Wednesday, January 6, 2010

Real estate prices on Steroids!

Cheaper to buy in Bhurj Khalifa than India(Read full story here...)

Real estate is no longer real in India. India has always been on the forefront when it comes to making heads turn. It is at it again...this time its real estate for a change. With the world economies trying to stand up on their weak & wobbly knees (due to after effects of the recent financial meltdown) India on the other hand is soaring to new heights, mocking the sensibilities of number crunchers - economists ;).

The real estate prices are sky rocketing in India and this news article says it all. Indians specially those staying in cities like Mumbai & Delhi are paying a premium. I know this is not news any more, but what baffles me is the fact how can any sensible person in their right senses pay such a premium provided there are no proper(read appropriate) infrastructure or facilities built/provided to support and hence justify these kind of sums charged! The prices of Bhurj Khafila makes sense for the fact that the infrastructure in and around this place is well developed.

Hope the investors\residents shelling out this kind of head-spinning amount ask the right questions and push the developers to be answerable for providing enough(read appropriate) infrastructure rather than play into their hands and be part of this fleecing game. Anybody want to second that?

One of the thought that keeps lingering in my mind is "Does Indians really have these kind of money or is it Black money talking?"

Concluding all I understand is that 'Real estate prices are no more real any more!'


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