On the Torrid real estate market of India, home ownership more out of reach. Sparkling skyscrapers of Mumbai on the outskirts distant from Bengaluru, the prices are arrows – supplied by swollen demand, the increase in construction costs and the narrowing supply. Luxury projects flock while affordability is rapidly eroding, leaving buyers in the middle class. An increasing number of citizens now question sustainability – and ethics – of this real estate boom.
A recent Post Reddit has sparked a discussion on soil property costs, targeting non -resident Indians (NRI), often considered as main buyers on the market.
“For all NRIs, please prevent the purchase of apartments in major Indian cities for a while. I checked the cost of apartments in Bangalore and Hyderabad. I was surprised to note that the cost of 3 BHK is approximately 2 to 2.5 crushes in the outdoor parts of the city (City Border). Then, I checked the cost in cities like London and Newyorks and they found the same cost. These.
The feeling touched a sensitive string with several others, which sounded with similar concerns concerning swollen assessments and the erodation of infrastructure.
“I am not rich but I wanted to buy a small field in Bengaluru, but by looking at the prices and the infrastructure in ruins, I retained myself. Yesterday, I saw that they had uprooted all the elderly trees which are as wide as 10m all along the road to enlarge it. The geed does not know of green paradise, ”shared an outside person.
“I planned to buy one, so I decided to make one in Dubai. Always WIP. Indian real estate is super inflated and it is a corrupt money well,” said another.
A third user highlighted poor investment returns in metros. “The best decision I have made in the past 5 years is not to invest in Bangalore real estate. All my partners who have invested have lost money or barely broken even on a property purchased after 21 added inflation. I invested the same thing for land development in the periphery of the city of level 2 and I made my investment 5 times. There is a lot of correction of 20 to 30% on the current price.
Others have pointed out how international comparisons do not tell the whole story. “London, New York City Awards have also increased after Covid. They are definitely higher than Bangalore / Mumbai / Gurgaon. But your main point is valid. People buy like crazy. Because Trump targets visas holders, more NRI will be widely ignored in India rather than in the United States. I am afraid that your well -intentioned advice will be widely ignored. ”
However, the conviction that real estate prices will never really fall seems deeply rooted. “Over the past 40 years, real estate prices have almost never dropped. If they fell for a while, it was 10% or stagnating for a few years. It is the unfortunate reality because of our growing population and economy. Prices are not justified, but there are people who are ready to pay and therefore the price will never drop. ”
