Who will control this speculated hike??? It has to be Me and You guys.

[sanjaym]

Dear Property Buyers,

A humble request to the reader, please be courteous to reply. It will really help.

This forum post is only for the people who desire to buy a property in India(Mumbai or may be other places if interested) but cannot buy. I hope by now its very clear that hike in property (Which is NOT Worth) is due to the following reasons,

- greedy demands of the sellers
- greedy builders
- cunning property agents who mislead/ the
- NRI's who end up paying any price
- Some Foolish Buyers

Friends, I too am a victim of the property hike and looking to buy a flat in mumbai but could not buy since 3 years. There seems to be no end to the peoples demands and no end to the speculated demands. Government is doing nothing on it and the politicians WILL NOT take action because they themselves have invested lots in properties. Hope you all agree with me.

- Sellers who are investers demand any price which is not worth. Above that they demand BLACK money. This BLACK money is their profit which the foolish buyers end up giving not realising that this leads to the unnecessary hike. Can you believe that a flat costing 30 lakhs is now asked 75 lakhs. This is too much and I cant understand how people are willing to pay these prices.

- Builders are the main root cause. They have put hefty rates on the new constructions and people have no options but to agree. To mislead people they start with reporting that all flats have been sold and then quitely start asking heavy prices. How cheap.

- Property Agents: I dont understand why do we have such unprofessional agents. They are so cunning and play with the buyers offers. There are many agents who hike the sellers price and strike a commision deal with the seller. That means even if the seller has quoted low they hike and keep their margin. Licenses should be made mandatory for the agents.

- NRI's can pay any price for the property's as they have foreign money and its peanuts for them to buy in India. Why doesnt the government control the buying of the NRI's

- Foolish buyers. There are some category of people who are willing to buy even if the price is too high and out of budget thinking that there will be no other good property available and that prices will hike more in future. They dont understand that by doing this they are hiking the rates.

Friends dont you think that no one is taking any action on this.
Who will control this?
Who will bring this down?
Why there is open demand for BLACK money when the government is clearly aware of this fact? Why is there no action?
When will the people start reporting the BLACK money demands.

Guys please post your concerns so that all affected people are aware that there is a huge bunch of victims and whats going on.

Please dont remain silent.

Please suggest what action can we as people can take.

Regards
Sanjay

 

[gareth73]

property rape

Hey sanjay i just stumbled across this thread.
youre missing the point about property prices.look at the bigger picture.
im 38 years old and when i was a younger man the banks would only lend a mortgage 3 times the annual wage of the highest earner,not both partners but only the highest earner,so if i earned 18k a year i got a maximum mortgage of 54k.
now with this FAIR system people could afford a home and prices of property could not inflate.
now not so long ago im unsure of the date but somebody,probably the united states government and their banks jp morgan and goldman sachs hit on a money making idea.
lets rape the poor and working classes to make trillions,how?
deregulate the banks so we can push property prices through the roof and dish out silly mrtgages ie a house that was 40k we can now sell for 120k.
the banks made a killing and so did their customers the governments of the world.
governments and world media and banks encouraged a buying frenzy and the rich got richer and when the bubble bursts and the banks go bust they use tax payers money to bail the banks out so the money the banks raped from us they can keep,they dont care as long as people stay in debt.
the best way for people to stop the banks is to not get any loans,any credit,no mortgages,nothing.keep the money we earn and live by our means.starve the banks of money.