I have been a great critic of the Indian real estate scenario for a couple of years now. I stick to my view point even now.Buyers are still flocking to buy houses and say that Indian real estate prices have sustained even the worst of global recession.
There is definitely a genuine need for housing as the city dwellers are growing in geometric progression . But the rates charged remain unduly high considering the infrastructure available in the Indian cities. The buyers think that their financial future by buying a house. But this may not hold true , if someone buys an house at abnormal prices.
The total cost of ownership of an house goes up heavily if one buys on a 15-20 year EMI. The black money flow and the political nexus help the prices to stay where they are in India as of now. Buyers need to be aware and be patient before they shell their hard earned money for buying a flat/land.
Any artificially jacked up prices need to come down some day.So, my wait to witness the great fall of Indian reality continues.
Indian real estate scenario, prices 2010, boom or bubble of real estate in India. is it really worth to buy a home in India as of now? Are the flats worth their cost?, don't get fooled by real estate guys.