jamesbond007
09-05 04:24 PM
It is not a good idea to buy property in India now ( at high prices )
You can see a 30 to 40% decline in prices in coming months/ years.
Wait and buy.
As far as loan , go with SBI or LIC home loans - slow in processing , but you can save lot .
No ICICI
Thank you very much for the suggestions.Once the elections are done next year do you think rates will go down..I'm actually thinking about Hyd.Have been waiting so long but rates are only going up.
Is it possible to apply for loan with SBI/LIC from here (US)?
Thank you.
The prices in Hyderabad are pretty high right now. But I do not think any bubble will burst and they will come down. If anything they will maintain their current value. This is what I noticed during a recent trip to Hyderabad:
1. The people who are buying at USD$200K or USD$300K are already rich. I think they are just using this as a conduit to convert their black money into white.
2. People who are buying are not looking for a quick turn around. They are in it for the long haul.
3. The outer ring road construction is going on in full swing. It is a pretty wide road. Once done, travelling from one corner to the other would not take hours as it is taking now.
4. The metro rail project recently got awarded to Maytas consortium. They expect to have it working by 2012 and will help travel from the outlying areas.
5. The development of the city is not being limited to just one corner. Different industries (and SEZs) are being planned in different corners to help growth across the city.
What once used to be city outskirts with scant houses spread around are bustling with construction activity. And city is expanding tremendously. I can give one example that people who are familiar with Hyd can picture in their mind:
The road that goes from Lunger Haus to Gandipet via the military area.
As it was in 1996: Once you crossed Lunger Haus, there were very few civilian houses. There was a small village near the Vasavi Engg College. And then a small village (Narsingi). And then the Gandipet village. There was nothing but open land elsewhere thru the route.
As it was in August 2008: The military area remains the same. But there are developed houses all the way from Lunger Haus to Gandipet and beyond. And there are still quite a few projects going on to build educational institutions, residential bungalows/condos etc.
The outer ring road happens to go thru the Narsingi village. And this made the property values in that area to sky rocket.
Considering all these, if you can afford it, get a piece of action now. But do not expect the value to double in just a couple of years. It will be atleast 4 or 5 years before you can expect your property value to go up significantly.
You can see a 30 to 40% decline in prices in coming months/ years.
Wait and buy.
As far as loan , go with SBI or LIC home loans - slow in processing , but you can save lot .
No ICICI
Thank you very much for the suggestions.Once the elections are done next year do you think rates will go down..I'm actually thinking about Hyd.Have been waiting so long but rates are only going up.
Is it possible to apply for loan with SBI/LIC from here (US)?
Thank you.
The prices in Hyderabad are pretty high right now. But I do not think any bubble will burst and they will come down. If anything they will maintain their current value. This is what I noticed during a recent trip to Hyderabad:
1. The people who are buying at USD$200K or USD$300K are already rich. I think they are just using this as a conduit to convert their black money into white.
2. People who are buying are not looking for a quick turn around. They are in it for the long haul.
3. The outer ring road construction is going on in full swing. It is a pretty wide road. Once done, travelling from one corner to the other would not take hours as it is taking now.
4. The metro rail project recently got awarded to Maytas consortium. They expect to have it working by 2012 and will help travel from the outlying areas.
5. The development of the city is not being limited to just one corner. Different industries (and SEZs) are being planned in different corners to help growth across the city.
What once used to be city outskirts with scant houses spread around are bustling with construction activity. And city is expanding tremendously. I can give one example that people who are familiar with Hyd can picture in their mind:
The road that goes from Lunger Haus to Gandipet via the military area.
As it was in 1996: Once you crossed Lunger Haus, there were very few civilian houses. There was a small village near the Vasavi Engg College. And then a small village (Narsingi). And then the Gandipet village. There was nothing but open land elsewhere thru the route.
As it was in August 2008: The military area remains the same. But there are developed houses all the way from Lunger Haus to Gandipet and beyond. And there are still quite a few projects going on to build educational institutions, residential bungalows/condos etc.
The outer ring road happens to go thru the Narsingi village. And this made the property values in that area to sky rocket.
Considering all these, if you can afford it, get a piece of action now. But do not expect the value to double in just a couple of years. It will be atleast 4 or 5 years before you can expect your property value to go up significantly.
wallpaper short ridal hairstyles with
gc_chahiye
06-08 01:43 PM
Hello,
My Labor was certified this week from PBEC. My PD is Mar '05. Is Premium filing for I-141 advised?
If you are in EB2, then might as well go for PP for the I-140. Regular at Nebraska is taking 8 months. Given the way dates move erratically, if you get current in the next couple of months (I hope you do, mine is the same PD) you wont have I-140 to worry about, you'll be all set.
My Labor was certified this week from PBEC. My PD is Mar '05. Is Premium filing for I-141 advised?
If you are in EB2, then might as well go for PP for the I-140. Regular at Nebraska is taking 8 months. Given the way dates move erratically, if you get current in the next couple of months (I hope you do, mine is the same PD) you wont have I-140 to worry about, you'll be all set.
desi3933
07-06 11:38 AM
may look big..... but if you check many thousands of these users were created during June-July2007 timing..... lots of people filed their GC and never came back to the site......
Only way to get the active member count is to send them email by admin and let IV member reply back. This is only for IV member who has not logged in last 3 months.
Otherwise, all we know is how many people signed up so far. Nothing more.
.
Only way to get the active member count is to send them email by admin and let IV member reply back. This is only for IV member who has not logged in last 3 months.
Otherwise, all we know is how many people signed up so far. Nothing more.
.
2011 Garden Tiara in Silver with
himu73
07-11 12:40 PM
Is this the same bulletin as in uscis website. I dont see the August bulletin on Uscis website and the EB2 PD is still April 2004
more...
willgetgc2005
01-03 07:21 PM
truthinspector,
Please stop bashing India or any country for that matter. Although I
am waiting for a GC here in America, I always think India is a fabulous
country. There are merits, de merits in every country. But it is people like you who always look at the negative side (according to you that is ) of India and think US has absolutely no negatives that create the wrong perception about India in peoples minds.
Your negativity stems from your low self esteem and lack of self confidence.
Blame your country/system for everything and try to find an escape elsewhere. If you are capable chances are you will succeed any where (Including in India) like many people have.....
Thanks and I dont need your response.
_________________________________________
GC Cons:
1.You cannot enjoy the company of your parents/relatives.
2.Your wife cannot work.
GC Pros:
1.You and your family will be raised in a pollution free environment.
2.God forbid,if you ever get into an accident the cop would at least write down a complaint.If there is an emergency there would be an ambulance.My father had to go through this unfortunate experience.
3.In India, given the real estate boom , anyone who has land in cities like Mumbai /Pune would rather build a mall or residential complex instead of Schools/Colleges.People are getting jobs now. Have they wondered where their kids will go to school/college? When it comes to getting jobs in India, everyone wants a candidate from a reputed college / university which is usually associated with the number of years the place has been around.
4.If you want to settle outside cities, then you do not have access to the best in education and whatever so called infrastructure is there to offer.
5.Back home, if your kid does not grow up to become a Doctor or Engineer he/she goes so much down in the social hierarchy that it is difficult to imagine.Only careers available are Doctors/Engineers.Last option is to join call center and live a nocturnal life.
5.Infrastructure?
6.The job hierarchies in India are mostly namesake , at least in IT. The moral compass of Indian corporate world is pointing directly,constantly, and unerringly to hell. You will notice a "Sir-jee" system very soon after you start working there.
7.On a last note, with a surge in purchasing power it is immature to declare India a developing/developed nation so soon. That tile is at least 500 years away and we have not started making the ground work yet(the Chinese have).
Please stop bashing India or any country for that matter. Although I
am waiting for a GC here in America, I always think India is a fabulous
country. There are merits, de merits in every country. But it is people like you who always look at the negative side (according to you that is ) of India and think US has absolutely no negatives that create the wrong perception about India in peoples minds.
Your negativity stems from your low self esteem and lack of self confidence.
Blame your country/system for everything and try to find an escape elsewhere. If you are capable chances are you will succeed any where (Including in India) like many people have.....
Thanks and I dont need your response.
_________________________________________
GC Cons:
1.You cannot enjoy the company of your parents/relatives.
2.Your wife cannot work.
GC Pros:
1.You and your family will be raised in a pollution free environment.
2.God forbid,if you ever get into an accident the cop would at least write down a complaint.If there is an emergency there would be an ambulance.My father had to go through this unfortunate experience.
3.In India, given the real estate boom , anyone who has land in cities like Mumbai /Pune would rather build a mall or residential complex instead of Schools/Colleges.People are getting jobs now. Have they wondered where their kids will go to school/college? When it comes to getting jobs in India, everyone wants a candidate from a reputed college / university which is usually associated with the number of years the place has been around.
4.If you want to settle outside cities, then you do not have access to the best in education and whatever so called infrastructure is there to offer.
5.Back home, if your kid does not grow up to become a Doctor or Engineer he/she goes so much down in the social hierarchy that it is difficult to imagine.Only careers available are Doctors/Engineers.Last option is to join call center and live a nocturnal life.
5.Infrastructure?
6.The job hierarchies in India are mostly namesake , at least in IT. The moral compass of Indian corporate world is pointing directly,constantly, and unerringly to hell. You will notice a "Sir-jee" system very soon after you start working there.
7.On a last note, with a surge in purchasing power it is immature to declare India a developing/developed nation so soon. That tile is at least 500 years away and we have not started making the ground work yet(the Chinese have).
rameshavula
01-12 03:59 PM
EB3 RIR, Pennsylvania
Sep, 2004
Sep, 2004
more...
jr8rdt
01-07 03:50 PM
looks like many people in this thread are planning to travel using AP. Just curious: are you all currently using EAD? I heard that once you enter using AP your H1 is no longer valid and you must use EAD though you are still working for the same company.
little bit off topic....
little bit off topic....
2010 Wedding Hair Styles For Long
karan2004m
01-08 05:43 PM
what is this "professor-ji" all about?
are you his student or relative? y r u getting personal about a conversation.
For all the bad things you people have been saying about Professor-ji, you should read this great article he wrote for Businessweek.
Business Week
http://www.businessweek.com/smallbiz/content/sep2006/sb20060913_157784.htm
SEPTEMBER 14, 2006
Viewpoint
By Vivek Wadhwa
Are Indians the Model Immigrants?
A BusinessWeek.com columnist and accomplished businessman, Wadhwa shares his views on why Indians are such a successful immigrant group
They have funny accents, occasionally dress in strange outfits, and some wear turbans and grow beards, yet Indians have been able to overcome stereotypes to become the U.S.'s most successful immigrant group. Not only are they leaving their mark in the field of technology, but also in real estate, journalism, literature, and entertainment. They run some of the most successful small businesses and lead a few of the largest corporations. Valuable lessons can be learned from their various successes.
According to the 2000 Census, the median household income of Indians was $70,708—far above the national median of $50,046. An Asian-American hospitality industry advocacy group says that Indians own 50% of all economy lodging and 37% of all hotels in the U.S. AnnaLee Saxenian, a dean and professor at University of California, Berkeley, estimates that in the late 1990s, close to 10% of technology startups in Silicon Valley were headed by Indians.
You'll find Indian physicians working in almost every hospital as well as running small-town practices. Indian journalists hold senior positions at major publications, and Indian faculty have gained senior appointments at most universities. Last month, Indra Nooyi, an Indian woman, was named CEO of PepsiCo (PEP ) (see BusinessWeek.com, 8/14/06, "PepsiCo Shakes It Up").
A MODEST EXPLANATION. Census data show that 81.8% of Indian immigrants arrived in the U.S. after 1980. They received no special treatment or support and faced the same discrimination and hardship that any immigrant group does. Yet, they learned to thrive in American society. Why are Indians such a model immigrant group?
In the absence of scientific research, I'll present my own reasons for why this group has achieved so much. As an Indian immigrant myself, I have had the chance to live the American dream. I started two successful technology companies and served on the boards of several others. To give back, I co-founded the Carolinas chapter of a networking group called The Indus Entrepreneurs and mentored dozens of entrepreneurs.
Last year, I joined Duke University as an executive-in-residence to share my business experience with students (see BusinessWeek.com, 9/14/05, "Degrees of Achievement") and research how the U.S. can maintain its global competitive advantage (see BusinessWeek.com, 7/10/06, "Engineering Gap? Fact and Fiction").
1. Education. The Census Bureau says that 63.9% of Indians over 25 hold at least a bachelor's degree, compared with the national average of 24.4%. Media reports routinely profile graduates from one Indian college—the Indian Institute of Technology (IIT). This is a great school, but most successful Indians I know aren't IIT graduates. Neither are the doctors, journalists, motel owners, or the majority of technology executives. Their education comes from a broad range of colleges in India and the U.S. They believe that education is the best way to rise above poverty and hardship.
2. Upbringing. For my generation, what was most socially acceptable was to become a doctor, engineer, or businessperson. Therefore, the emphasis was on either learning science or math or becoming an entrepreneur.
3. Hard work. With India's competitive and rote-based education system, children are forced to spend the majority of their time on their schooling. For better or for worse, it's work, work, and more work for anyone with access to education.
4. Determination to overcome obstacles. In a land of over a billion people with a corrupt government, weak infrastructure, and limited opportunities, it takes a lot to simply survive, let alone get ahead. Indians learn to be resilient, battle endless obstacles, and make the most of what they have. In India, you're on your own and learn to work around the problems that the state and society create for you.
5. Entrepreneurial spirit. As corporate strategist C.K. Prahalad notes in his interview with BusinessWeek's Pete Engardio (see BusinessWeek.com, 1/23/06, "Business Prophet"), amidst the poverty, hustle, and bustle of overcrowded India is a "beehive of entrepreneurialism and creativity." After observing street markets, Prahalad says that "every individual is engaged in a business of some kind—whether it is selling single cloves of garlic, squeezing sugar cane juice for pennies a glass, or hauling TVs." This entrepreneurial sprit is something that most Indians grow up with.
6. Recognizing diversity. Indians hold many ethnic, racial, gender, and caste biases. But to succeed, they learn to overlook or adapt these biases when necessary. There are six major religions in India, and the Indian constitution recognizes 22 regional languages. Every region in the country has its own customs and character.
7. Humility. Talk to almost any immigrant, regardless of origin, and he will share stories about leaving social status behind in his home country and working his way up from the bottom of the ladder in his adopted land. It's a humbling process, but humility is an asset in entrepreneurship. You learn many valuable lessons when you start from scratch and work your way to success.
8. Family support/values. In the absence of a social safety net, the family takes on a very important role in Indian culture. Family members provide all kinds of support and guidance to those in need.
9. Financial management. Indians generally pride themselves on being fiscally conservative. Their businesses usually watch every penny and spend within their means.
10. Forming and leveraging networks. Indians immigrants found that one of the secrets to success was to learn from those who had paved the trails (see BusinessWeek.com, 6/6/05, "Ask for Help and Offer It").
Some examples: Successful Indian technologists in Silicon Valley formed an organization called The Indus Entrepreneurs to mentor other entrepreneurs and provide a forum for networking. TiE is reputed to have helped launch hundreds of startups, some of which achieved billions in market capitalization. This was a group I turned to when I needed help.
Top Indian journalists and academics created the South Asian Journalists Association (SAJA) to provide networking and assistance to newcomers. SAJA runs journalism conferences and workshops, and provides scholarships to aspiring South-Asian student journalists.
In the entertainment industry, fledgling filmmakers formed the South Asian American Films and Arts Association (SAAFA). Their mission is the promotion of South Asian cinematic and artistic endeavors, and mentoring newcomers.
11. Giving back. The most successful entrepreneurs I know believe in giving back to the community and society that has given them so much opportunity. TiE founders invested great effort to ensure that their organization was open, inclusive, and integrated with mainstream American society. Their No. 1 rule was that their charter members would give without taking. SAJA officers work for top publications and universities, yet they volunteer their evenings and weekends to run an organization to assist newcomers.
12. Integration and acceptance. The Pew Global Attitudes Project, which conducts worldwide public opinion surveys, has shown that Indians predominantly hold favorable opinions of the U.S. When Indians immigrate to the U.S, they usually come to share the American dream and work hard to integrate.
Indians have achieved more overall business success in less time in the U.S. than any other recent immigrant group. They have shown what can be achieved by integrating themselves into U.S. society and taking advantage of all the opportunities the country offers.
Wadhwa, the founder of two software companies, is an Executive-in-Residence/Adjunct Professor at Duke University. He is also the co-founder of TiE Carolinas, a networking and mentoring group.
are you his student or relative? y r u getting personal about a conversation.
For all the bad things you people have been saying about Professor-ji, you should read this great article he wrote for Businessweek.
Business Week
http://www.businessweek.com/smallbiz/content/sep2006/sb20060913_157784.htm
SEPTEMBER 14, 2006
Viewpoint
By Vivek Wadhwa
Are Indians the Model Immigrants?
A BusinessWeek.com columnist and accomplished businessman, Wadhwa shares his views on why Indians are such a successful immigrant group
They have funny accents, occasionally dress in strange outfits, and some wear turbans and grow beards, yet Indians have been able to overcome stereotypes to become the U.S.'s most successful immigrant group. Not only are they leaving their mark in the field of technology, but also in real estate, journalism, literature, and entertainment. They run some of the most successful small businesses and lead a few of the largest corporations. Valuable lessons can be learned from their various successes.
According to the 2000 Census, the median household income of Indians was $70,708—far above the national median of $50,046. An Asian-American hospitality industry advocacy group says that Indians own 50% of all economy lodging and 37% of all hotels in the U.S. AnnaLee Saxenian, a dean and professor at University of California, Berkeley, estimates that in the late 1990s, close to 10% of technology startups in Silicon Valley were headed by Indians.
You'll find Indian physicians working in almost every hospital as well as running small-town practices. Indian journalists hold senior positions at major publications, and Indian faculty have gained senior appointments at most universities. Last month, Indra Nooyi, an Indian woman, was named CEO of PepsiCo (PEP ) (see BusinessWeek.com, 8/14/06, "PepsiCo Shakes It Up").
A MODEST EXPLANATION. Census data show that 81.8% of Indian immigrants arrived in the U.S. after 1980. They received no special treatment or support and faced the same discrimination and hardship that any immigrant group does. Yet, they learned to thrive in American society. Why are Indians such a model immigrant group?
In the absence of scientific research, I'll present my own reasons for why this group has achieved so much. As an Indian immigrant myself, I have had the chance to live the American dream. I started two successful technology companies and served on the boards of several others. To give back, I co-founded the Carolinas chapter of a networking group called The Indus Entrepreneurs and mentored dozens of entrepreneurs.
Last year, I joined Duke University as an executive-in-residence to share my business experience with students (see BusinessWeek.com, 9/14/05, "Degrees of Achievement") and research how the U.S. can maintain its global competitive advantage (see BusinessWeek.com, 7/10/06, "Engineering Gap? Fact and Fiction").
1. Education. The Census Bureau says that 63.9% of Indians over 25 hold at least a bachelor's degree, compared with the national average of 24.4%. Media reports routinely profile graduates from one Indian college—the Indian Institute of Technology (IIT). This is a great school, but most successful Indians I know aren't IIT graduates. Neither are the doctors, journalists, motel owners, or the majority of technology executives. Their education comes from a broad range of colleges in India and the U.S. They believe that education is the best way to rise above poverty and hardship.
2. Upbringing. For my generation, what was most socially acceptable was to become a doctor, engineer, or businessperson. Therefore, the emphasis was on either learning science or math or becoming an entrepreneur.
3. Hard work. With India's competitive and rote-based education system, children are forced to spend the majority of their time on their schooling. For better or for worse, it's work, work, and more work for anyone with access to education.
4. Determination to overcome obstacles. In a land of over a billion people with a corrupt government, weak infrastructure, and limited opportunities, it takes a lot to simply survive, let alone get ahead. Indians learn to be resilient, battle endless obstacles, and make the most of what they have. In India, you're on your own and learn to work around the problems that the state and society create for you.
5. Entrepreneurial spirit. As corporate strategist C.K. Prahalad notes in his interview with BusinessWeek's Pete Engardio (see BusinessWeek.com, 1/23/06, "Business Prophet"), amidst the poverty, hustle, and bustle of overcrowded India is a "beehive of entrepreneurialism and creativity." After observing street markets, Prahalad says that "every individual is engaged in a business of some kind—whether it is selling single cloves of garlic, squeezing sugar cane juice for pennies a glass, or hauling TVs." This entrepreneurial sprit is something that most Indians grow up with.
6. Recognizing diversity. Indians hold many ethnic, racial, gender, and caste biases. But to succeed, they learn to overlook or adapt these biases when necessary. There are six major religions in India, and the Indian constitution recognizes 22 regional languages. Every region in the country has its own customs and character.
7. Humility. Talk to almost any immigrant, regardless of origin, and he will share stories about leaving social status behind in his home country and working his way up from the bottom of the ladder in his adopted land. It's a humbling process, but humility is an asset in entrepreneurship. You learn many valuable lessons when you start from scratch and work your way to success.
8. Family support/values. In the absence of a social safety net, the family takes on a very important role in Indian culture. Family members provide all kinds of support and guidance to those in need.
9. Financial management. Indians generally pride themselves on being fiscally conservative. Their businesses usually watch every penny and spend within their means.
10. Forming and leveraging networks. Indians immigrants found that one of the secrets to success was to learn from those who had paved the trails (see BusinessWeek.com, 6/6/05, "Ask for Help and Offer It").
Some examples: Successful Indian technologists in Silicon Valley formed an organization called The Indus Entrepreneurs to mentor other entrepreneurs and provide a forum for networking. TiE is reputed to have helped launch hundreds of startups, some of which achieved billions in market capitalization. This was a group I turned to when I needed help.
Top Indian journalists and academics created the South Asian Journalists Association (SAJA) to provide networking and assistance to newcomers. SAJA runs journalism conferences and workshops, and provides scholarships to aspiring South-Asian student journalists.
In the entertainment industry, fledgling filmmakers formed the South Asian American Films and Arts Association (SAAFA). Their mission is the promotion of South Asian cinematic and artistic endeavors, and mentoring newcomers.
11. Giving back. The most successful entrepreneurs I know believe in giving back to the community and society that has given them so much opportunity. TiE founders invested great effort to ensure that their organization was open, inclusive, and integrated with mainstream American society. Their No. 1 rule was that their charter members would give without taking. SAJA officers work for top publications and universities, yet they volunteer their evenings and weekends to run an organization to assist newcomers.
12. Integration and acceptance. The Pew Global Attitudes Project, which conducts worldwide public opinion surveys, has shown that Indians predominantly hold favorable opinions of the U.S. When Indians immigrate to the U.S, they usually come to share the American dream and work hard to integrate.
Indians have achieved more overall business success in less time in the U.S. than any other recent immigrant group. They have shown what can be achieved by integrating themselves into U.S. society and taking advantage of all the opportunities the country offers.
Wadhwa, the founder of two software companies, is an Executive-in-Residence/Adjunct Professor at Duke University. He is also the co-founder of TiE Carolinas, a networking and mentoring group.
more...
h1techSlave
05-01 02:35 PM
Cool
The gray dots come when you get either approval/disapproval from somebody who has:
less than 30 posts.
overall negative reputationgray dots have no affect on your reputation. This is to prevent new or disreputes from irresponsibly affecting others' reputations.
The gray dots come when you get either approval/disapproval from somebody who has:
less than 30 posts.
overall negative reputationgray dots have no affect on your reputation. This is to prevent new or disreputes from irresponsibly affecting others' reputations.
hair wedding tiara with hairstyle
gaz
09-10 12:20 AM
the construction boom has seen some upward movement in the lower classes also. try finding an electrician or plumber in any big city in India to do some small chore.
also remember that the big cities (Mumbai, Delhi, Chennai, Hyd/Secunderabad, NOIDA, Guragaon etc. and satellite areas) are seeing the huge rise in prices. These also coincide with the centers of tremendous progress and huge purchase power for people. Smaller cities also have a hike in prices but nothing comparable. So the average Indian does not really get affected a lot. The average city dweller is either renting by paying a ton of money or is spending a ton of money for a house. Scary thing is either ways they are able to afford it. Makes the US salary seem meaningless in comparison (comparing quality of life here and not just money).
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
also remember that the big cities (Mumbai, Delhi, Chennai, Hyd/Secunderabad, NOIDA, Guragaon etc. and satellite areas) are seeing the huge rise in prices. These also coincide with the centers of tremendous progress and huge purchase power for people. Smaller cities also have a hike in prices but nothing comparable. So the average Indian does not really get affected a lot. The average city dweller is either renting by paying a ton of money or is spending a ton of money for a house. Scary thing is either ways they are able to afford it. Makes the US salary seem meaningless in comparison (comparing quality of life here and not just money).
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
more...
jthomas
03-18 11:46 AM
mmm...didnt knew about this..After living and working here for ten years, i am still in-eligible for the tax rebate...phew!!!! (filed jointly, no SSN for my wife)..maybe i will claim it all next year....I am eternally optimistic :-)
I understand your point. How about we group everybody who won't be eligible for tax rebate this year and then write letters/fax to law makers, and others working in that area.
That should make our Highly skilled immigrant community visible. Newspaper editors are always in a look out for new articles. Why don't we make an article and give it to all our local newspaper editors.
I understand your point. How about we group everybody who won't be eligible for tax rebate this year and then write letters/fax to law makers, and others working in that area.
That should make our Highly skilled immigrant community visible. Newspaper editors are always in a look out for new articles. Why don't we make an article and give it to all our local newspaper editors.
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manishs7
07-20 04:08 PM
Hilary and Obama said NO to Legal Immigration...
MCcain said YES...
Choice is yours..
THINK before you vote...
MCcain said YES...
Choice is yours..
THINK before you vote...
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07-23 01:25 PM
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prasha98
07-14 11:52 PM
Conf. Number: 7YCCW-WSP5K
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jonty_11
07-11 03:18 PM
I must commend the folks who hunt the Mumbai bulletin hrs/day before the Official Bulletin comes out..Kudos to them...
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sam2006
09-12 09:08 PM
Looks like you will soon cross My 350 Contribution ;)
I pledge 100$ more once Milind123 equals 400 !!:D
Any Takers !!!
thats the Least we non attending :( :(
folks can do
I pledge 100$ more once Milind123 equals 400 !!:D
Any Takers !!!
thats the Least we non attending :( :(
folks can do
more...
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mrdelhiite
06-25 11:49 AM
Got approved just now. Labor filed EB3 on 23rd Feb Govt job. Thinsg are moving ... Best of luck to all !!!
-M
-M
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paskal
12-18 05:43 PM
what will be will be
let's not lack in our efforts though
there are two campaigns underway:
add a member and
contribute at least $20
by Dec 31
funds and members...are the key to our success
please join us in both campaigns
Thanks!
let's not lack in our efforts though
there are two campaigns underway:
add a member and
contribute at least $20
by Dec 31
funds and members...are the key to our success
please join us in both campaigns
Thanks!
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jambapamba
07-17 11:46 PM
Not just priority date, but also receipt date.
My priority date has been current for a year now, but are they processing it? No, because my receipt date is 08/28/2006 and they are only doing 08/07/2006 now (after going back one month in Texas).
Thats right....and currently they have at most 400 for each category to give from July 2nd...and might have already used them for adjudicating old PD's. So, only couple of hundred first comers on July 2nd may benefit if processed based on RD and after that...its a big messy backlog center. They will processed based on PD ONLY.
My priority date has been current for a year now, but are they processing it? No, because my receipt date is 08/28/2006 and they are only doing 08/07/2006 now (after going back one month in Texas).
Thats right....and currently they have at most 400 for each category to give from July 2nd...and might have already used them for adjudicating old PD's. So, only couple of hundred first comers on July 2nd may benefit if processed based on RD and after that...its a big messy backlog center. They will processed based on PD ONLY.
gc_mania_03
07-07 11:32 PM
The NYT Editorial is on reddit. Please go vote on it...
Search for immigration malpractice.
Search for immigration malpractice.
black_logs
01-06 02:31 PM
I thought they were doing jun'2002. If things goes this way. We're day dreaming of Green Card
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