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Retrogression, priority dates and Visa bulletins Issues surrounding the retrogression of the priority dates for the various employment based categories

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  #1 (permalink)  
Old 10-06-2008, 08:08 PM
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Default Does it make sense to buy a property in India

Guys,

I know this is immigration forum , so People who are not interested in this thread please ignore.

Considering the State of Markets and Global economy.

Do you guys think it make sense to buy a Flat/Single family house in India in this market?


Please throw some ideas..

Last edited by funny; 10-07-2008 at 07:42 PM.
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  #2 (permalink)  
Old 10-06-2008, 08:17 PM
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pls post in property related forums..
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  #3 (permalink)  
Old 10-06-2008, 08:29 PM
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Default

Quote:
Originally Posted by funny View Post
Guys,

I know this is immigration forum , so People who are not interested in this thread please ignore.

Considering the State of Markets and Global economy.

Do you guys think it make sense to buy a Flat/Single family house in India , I am going to india in Mid october. Should i take the lunge and buy some proerty there...This would be the first home..so no Home equity Loan..It will be on 12% interest Rae from some indian bank.


Please throw some ideas..

Yes! It is a good idea!. You would have some equity built over the years.
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  #4 (permalink)  
Old 10-06-2008, 08:36 PM
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Default Does it make sense to open multiple thread not related to immigration?

Dont you worry....as requested...you are ignored.
Quote:
Originally Posted by funny View Post
Guys,

I know this is immigration forum , so People who are not interested in this thread please ignore.

Considering the State of Markets and Global economy.

Do you guys think it make sense to buy a Flat/Single family house in India , I am going to india in Mid october. Should i take the lunge and buy some proerty there...This would be the first home..so no Home equity Loan..It will be on 12% interest Rae from some indian bank.


Please throw some ideas..
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  #5 (permalink)  
Old 10-06-2008, 08:42 PM
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What you are seeing right now in US, you'll see that in India begining next year. Indian Property market is ripe for a crash. I wouldn't invest a penny until the dust settles...
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  #6 (permalink)  
Old 10-06-2008, 08:45 PM
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Default i would wait

i would wait a few months unless i had cash and could get substantial discounts...of course you may already have a great deal that you want to close...however, at a 12% rate, you have to be careful....lots of people will be looking to sell their flats soon...and there may be a temporary downturn in the market that you can take advantage of..get all your paperwork ready...but wait a bit to pull the trigger...

free advice...take it for what it is worth
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  #7 (permalink)  
Old 10-06-2008, 09:00 PM
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Default Atleast have some flat to stay when you are back in india..

What i think is add this in your short term goal:

In case we need to go back we should have atleast a flat (completely owned) to live and work.

This is the minimum advantage of coming to different country to take all these struggles.


Quote:
Originally Posted by funny View Post
Guys,

I know this is immigration forum , so People who are not interested in this thread please ignore.

Considering the State of Markets and Global economy.

Do you guys think it make sense to buy a Flat/Single family house in India , I am going to india in Mid october. Should i take the lunge and buy some proerty there...This would be the first home..so no Home equity Loan..It will be on 12% interest Rae from some indian bank.


Please throw some ideas..
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  #8 (permalink)  
Old 10-06-2008, 10:05 PM
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Default Not really correct ...

Quote:
Originally Posted by mirage View Post
What you are seeing right now in US, you'll see that in India begining next year. Indian Property market is ripe for a crash. I wouldn't invest a penny until the dust settles...
You have to understand how the market in India operates versus how it is run in developed countries especially in USA. I don't know if you noticed, but all the property transactions are conducted on credit in USA with minimum persnal contribution ( i.e. down payement). And now in hindsight, we all can understand how this practise was reason for bubble-brust. As an interested home-owner looking for houses currently, I have first hand experience. I say that beacuse people out-bidding me, even in todays market conditions, are putting down zero amount in down payment and in-turn even financing closing costs. So when you have minimal of personal equity at stake, it bothers you least to take risks on other peoples ( say banks) money.

Now lets go to India, and I will stick to North-India, as that's where I have first hand expereience from. Go and talk to any property dealer and enquiry about properties. Wait for few weeks and return to find the rates have gone up. Well lets assume, you agreed upon the sale price and are now ready to conduct transaction. The property dealer is not going to ask you for SS number to check credit wortheness, but rather will ask for cash amount. You pay cash, you have the papers else don't waste time. So with business model, their is little risk involved and hence property business in North-India remains sizzling hot.

If you can afford you must buy piece of land in North India. ALthough maintaining it always remains challange as their are no laws protecting you from Rich-Police-Politician gangs.
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  #9 (permalink)  
Old 10-06-2008, 11:01 PM
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Default Not a bad thought

Property prices will soften worldwide. Though as someone pointed out many purchases in India are not credit based, so it may not be as bad there as there would be limited forced selling, though from what I have heard sales have and will slow markedly, another point to consider is that India has a population pressure like nowhere else in the world, as long as people can buy they will continue to do so.
It is also the case that the Indian economy is very much dependent on the US economy as much of the exports are to the USA, but the domestic economy is stronger than China. India can and perhaps will spend their 300 Billion dollar reserves in this down cycle for infrastructure development projects which should keep the domestic economy going.
An interesting thing is that the Indian Rupee is falling vis a vie the Dollar. I've heard it is because of hedge funds and other investors liquidating Indian assets to bring them back to the US where they have more pressing needs in a rapidly deleveraging system.
I would say that Property prices in India have adjusted downward by 15% or so already and will perhaps go another 10% but maybe not much more. I'm also hearing that the bigger hit is in the above 35 lakh properties, below that prices are holding up better.
Additionally if you are planning to buy from your savings/borrowings in the USA then you could benefit from the exchange rate, which is already nearly 25% better than a few months ago. Especially if you consider your situation shaky in the USA, it is an option worth considering. Given the US authorities can't seem to make up their minds whether they want us here, I can't see the sense in buying homes here, atleast buying there, you can ride out a market.

Last edited by alterego; 10-06-2008 at 11:09 PM.
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  #10 (permalink)  
Old 10-06-2008, 11:31 PM
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Default

We are really now in a global credit/liquidity crisis. Please see the link below to see the cash crunch the major real estate players like DLF are in. This article is from July so you can imagine what September would have been like for them. Prices have already come down in major centres. Currently there is a game of chicken being played between builders and end use buyers. Every indication is that very soon builders will have to cut their losses and sell their flats at deep discounted prices.



http://economictimes.indiatimes.com/...ow/3190535.cms
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  #11 (permalink)  
Old 10-07-2008, 10:26 AM
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Default Dont Buy!

Properties in India will start going down. They will reach bottom in the next 3 years. This is only the begining.
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  #12 (permalink)  
Old 10-07-2008, 11:45 AM
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It's not a wise decision to invest in India for another few years. If a controlled market like the US experiences such short comings, you cant even imagine how things will get in India. It's going to be extremely volatile and the armageddon is just about to begin. Stay away from there.
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  #13 (permalink)  
Old 10-07-2008, 12:12 PM
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Default Indian Markets Vs US Markets

Indian markets are in fact more controlled (by the government) than US ones. Last few years were like "wild wild west" on the Wall street under the cloak of "free markets" theory with practically no oversight or regulation of any kind which ultimately landed us all in this hole!!

Quote:
Originally Posted by dallasdude View Post
It's not a wise decision to invest in India for another few years. If a controlled market like the US experiences such short comings, you cant even imagine how things will get in India. It's going to be extremely volatile and the armageddon is just about to begin. Stay away from there.
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  #14 (permalink)  
Old 10-07-2008, 12:37 PM
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Well, it doen't make sense to buy any kind of property any where in universe now as they are all coming down. Some already had and some are near to the situation.
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  #15 (permalink)  
Old 10-07-2008, 12:41 PM
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Quote:
Originally Posted by rupchikgulti View Post
Well, it doen't make sense to buy any kind of property any where in universe now as they are all coming down. Some already had and some are near to the situation.

I agree with your point. So, wait for some more time. Right now most important thing is to hold your money tight. When you have a job market highly volatile, most important thing is to have money in hand for bad time (I pray to GOD that no one get to see this time).
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