Tuesday, 29 May 2012

Real Estate & Mumbai

"Roti,Kapda aur Makaan" these are three basic needs of human
being. In Mumbai Roti & Kapda is very easy to get but "Makaan" is
very difficult. In India Real Estate prices are going high with every passing

It's difficult for normal people with salary of 15-20 thousand to get his dream
home in Mumbai. Some out skirts of Mumbai (neighbour cities) are also getting
costly with every passing day.

A week back there was survey in real estate sector which said that it's
difficult for person to purchase house in Mumbai with salary of 1lac per month.
If your dream house cost is 70lacs then you have to pay 20lacs as black money.
You have to apply for loan with 50lacs registered value. You have to pay 15%
cash to avail the loan of 50lacs. If your loan is for 20years then you have to
pay 45000 per month for EMI but before doing all this getting Rs27.5lacs cash
money is big deal.

We have seen in past that how people of big corporate companies like LIC
Housing are involved with financial scam to support builders to hike the prices
of property. Black money is among the key factor for increase in property
rates. In pat black money was going into swizz account but at present time it’s
all coming in real estate market of India. There are several Benami properties
across India.

Corruption and property prices increased in same time because property market
is safe place to divert all black money. You can register as many benami
properties you want to register. All black money coming in to property market
leads to Increase in properties Prices.

Doing Kamaal,

Kamal Upadhyay

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