*
Property market in Year 2001 -2004 was quiet Ok , People were able to buy
Flats in reasonable rates .
*Year 2005 -2006 , Some of the well known
builders started the rates boom , flat which was at the cost of
Rs.900 Sq Ft now became 2200 to 2800
Q: Are there any additional facilities ?
--> No Same Scheme/Area , Flat sold at 10 Lacks Now
selling at 25 Lacks .
Q: Why Property increased so High
?
--> IT people
competition to buy sweet home ..
Q: Who is going to Benfit from this Property Boom
?
--> Only
Builders and some of the Politicians
Q: How is the Bank's support on Home Loans
?
--> Last Year
, Bank gave the loan's at flexible mimimum rate,Now Banks has sufficient number
of customers ,
(Trap) Slowly Banker's increasing interst at % 0.5
every month .
IT People Who
bought house for 22 Lacks for 20 Yrs , Now became 23 Yrs with raise of
0.5 %
Q. How some IT people
can face the problems in Future ?
--> Companies are
Project Based , If Projects are there then People will not be there
..
Q. IT salaries are high in Market ,
How much actually IT-people getting in Hand ?
-->
People, Who bought house of 22 Lacks to 40 Lacks They need to pay
EMI
15,000 to 35,000 for 20 Yrs. If Bank keeps same interst
rates ..
Suppose Salary is 35- 40 K Per Month, 20K will be the EmI
Q.
Is there any "Terms & Condition or Processes to increase rates" ?
--> No ,
Depends on Buiders Greediness . Every builder follows the different strategies
Builder sold one flat 1500 Per Sqft in Morning and 1800
Per Sqft in the Evening ,
There are no records maitained ...
Q.
Who made builders smart & greedy ?
--> Fool IT
people ..
No body is
asking , Flat was sold at 12 Lacks , Why now 24 Lacks ?
Q. Is Corporation water & MESB available to
all schemes ?
--> Some of the area don't have the Corporation
water at all , People surviving on Water Tankers.
** MESB
.. Under Table ,can be managed easily .
Q.
What will be the condition If We are not able to Clear the Loan ?
-->
Depends on individual capabilities
Q.
What wiil be the actual 'area of living' or carpet area if the builder proposes
1000 sft?
....> The
actual carpet area will be 800-850 sft only. The common area is also included in
the proposal.
If two flats are in the same floor, then
the builder cheats both the residents by collecting
How do Builders cheat buyers? ...
Let us see with a simple example
Builder XXXX
proposes a flat in a decent residential area.
Rate ( Unit
Price ) - Rs. 3500 sft.
Registration
- Rs. 40 per sft.
EB and
drainage - Rs. 50,000
Covered Car park -
Rs. 1,25,000
Corpus fund
- Rs. 50000.
For a 1000 sft flat ( 850 sft
carpet area ), the approximate cost will be Rs.37,65,000. In the same plot area
( measuring 2 grounds) the builder would have constructed 8 or 10 flats.
Let us see how a builder earns
his profit
Total sales for the builder -
37, 65,000 *10 = 3, 76, 50000 ( 3.76 crores)
Cost of the land
- Rs. 40 laks per
ground
1) Total cost of the land
- 80 lakhs
for two ground ------- A
Total builtup area for 10 flats
- 10*1000 sft =
10,000 sft
Construction cost per sft ( for
normal specification) = Rs. 900 per sft
2) Total
construction cost
- 10,000 * 900 = Rs. 90,00,000
-------------- B
3)
Other expenses for the builder
- Rs. 20 per sft = Rs. 2,00,000
................. C
Total
expenses for the builder = A+ B+C
=
Rs. 80,00,000 + Rs.90,00,000 + Rs. 2,00,00
= Rs.
1,72,00,000 ( 1.72 crores approx)
Total Sales
= Rs. 3.76 crores - Rs. 1.72
crores
Total profit
of the builder = Rs. 2.04
crores.
Let us see the share of each
resident
1. Cost of
land = Divided share among the other 10 residents
= Rs. 80,00,000 /
10
= Rs..
8,00,000
2.
Construction cost = Rs. 900 * 1000
= Rs. 9,00,000
3. Other expenses = Rs. 2,00,000 (
approx)
Total
= Rs. 19,00,000 (
Nineteen lakhs)
The total
share for each resident is Rs. 19,00,000 ( Nineteen lakhs only )
but he pays
Rs. 37.5 laks for the flat.
Q. How
We can stop Builders -Property Boom ?
1) IT People should stop buying flats for atleast next
1-2 Yrs .
2) Onces rates are reasonable , With some legal
process get the Booking .
3) Check Facilities, Convince, Road
Approach, schools & Mainly co-operation water
4)
Ask Questions If I buy 1/2 BHK at 12 to 30 Lacks , Do I get reasale
value in future?
5) Today you are
capable for paying 1000 -3000 maintains per month ? Will will be the same case
after 20-30yrs after retirement
..
6) In All, Don't stretch
more to get the more & more loans other wise it will create
unnecessary
pressure and tension .
7) Read the above mentioned calculation carefully, when you are
about to buy a flat pls keep this in mind.
Please read this
carefully. Send it to all you
know .Act
quickly..Save them from
debts.We can stop the
inflation.
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