One thing I should have mentioned in the video: FSI cannot be increased on its own. An increase in FSI would also need extra roads, sweage system, public transportation, etc. to manage the additional population. Something to consider!
As someone whose family has been close with real estate industry in mumbai, i can say this video is quite accurate. however it misses major part of economics of encrochment, Bonus FSI especially in mumbai. Builder Nexus of Artificial Inflation, The Stronghold of Empty inventory in many cites and inabilty for people and individual land owners to self develop. The sitaution is soo bad, Prices in Borivali are same as new jersey and more expensive than dubai
Hey PowerTrain, I love your videos too. Just my 2 cents: There is no quality of life in Mumbai at all despite the exorbitant property cost. Even Navi Mumbai is better than main Mumbai, but Nasik is much better than both Mumbai and Navi Mumbai. Similarly Pune and Pimpri Chinchwad are much better than Mumbai. One of my cousin sold his 2 BHK in Santacruz, took a 200% hike in salary, shifted to Bangalore and bought 2 x 3BHK from the Mumbai flat.
PowerTrain, People in New Jersey earn 10-20 times more than what people earn in Borivali but still have to pay extreme prices. I request you to make reality based videos that will bring to light the plight of common man. It is good that you only make videos on the top layer good aspects but you must also try to make videos which show the ground reality for the common man.
India has Taxes of Sweden Property prices of Singapore Wokeism of USA Freedom of North Korea and most importantly Government and Development level of Somalia
Freedom of North Korea and Gov like Somalia?? Just look at our neighborhood. The Gov is like any other Gov of democrasy. But the Country is to huge to handle. Even a mere 1% oppose a Gov decision. That can be one of the largest protest the world can see..
Solution: make remote work from home a common practice in India. It will reduce pressure on cities. Further it will put much needed money in small towns and rural areas.
A good solution, at least for jobs where just an internet connection is sufficient. But the HR in every IT company is hell bent on making the employees come to the office.
We are living in such era, where NEWS is doing comedy, and social media is showing the NEWS. Appreciate your efforts man Let's appreciate his efforts 😊
I was planning to buy a house in Mumbai and Pune when I was in India, the prices were very high and the property that I scouted didn't feel like it's worth that price. Then I moved to Canada within 1 1/2 years I bought a house for 3cr. It's a 3BHK with 1700 sqft, which also has a nice pond view, a front and back yard, indoor parking and a park near my house(which almost every Canadain locality had). Buying a house here was the best decision of my life.
I as an interior designer truly understand the pain of this people They spend their life savings on this flats and literally start all over with 0 due to expenses post purchasing
@@vishalgupta7460 So many a times these under constructions flats are sold saying there will be this will have ground, swimming, etc but is not there after completion.. They sell fake dreams.. also they might use good material for base but for completion certain big builders have also used cheap material and you can't do shit once flat is booked. Especially with big builders.. They are big they have lawyers and everything.. as a common person it's very difficult to fight. And many times buildings get delayed by few years.. Remember you will be paying the EMI and if you have exisiting loan or paying rent you are screwed.
Even after purchasing 1.5 BHK for 36 lcs in one of the fastes growing locality of Ahmedabad. ( Adani nearby, Reliance coming soon ) I might not have money for Interior once i get posassion.
Because of greedy people prices rising as well so if everyone thinks like you than people will all unethical practice to earn money ultimately harming the society
@@rasmiranjanbehera5873 Yup especially land is a good deal for them , even a municipal officer , and cash is the reason why it is happening , the rule should be made that stamp will be paid online
This is a rare instance when Mohak has presented the problem but not the solution (not even an idealistic one), and I don't blame him. Because the problem is so viciously rooted, the solution is not at all simple. Hoping for a better future. Would be great if our housing bubble pops like China.
@@abhishekchakraborty135 This is the one, it's not only the goddamn crab mentality we have but also the greediness beyond measure of anyone with even an iota of power. We'd rather dismantle someone doing good because he didn't cough up bribe money than let them bring prosperity. It's no wonder most people jump ship whenever they can
I'm from chhattisgarh and people here want government job because, there is so much corruption in government jobs here. And the government here doesn't let IT companies come in the state. There is no IT company in raipur so people don't even know about good paying private jobs
buying a house is not possible for the current era of Millenials and genZ..I mean u're most likely gonna live on rent till 3/4th of your work-life and near retirement, you may be ale to buy a house and at that time, you'll not want to live in a metro anymore as it would have sucked out your soul. It was so much simpler for my parents, my parents bought their first house for 2 lakhs (1BHK) in Delhi in '99, 3 years into marriage; sold it for 25 lakhs in 2011 and bought a 2 BHK+ for 50 lakhs again in Delhi along with land in our hometown as well. All this while raising two kids in private schools+colleges. I'm never gonna be that rich, like my parents. it's true that our generation is poorer than our parents
I saw an ad for a 3bhk apartment in Santa Cruz when I had visited Mumbai. A 3bhk apartment including registration and stamp duty costed a whooping 7c. For that amount of money, one could get a 1 ground land in proper Chennai and build an independent house. Not saying that prices in Chennai are any justifiable, but property prices in Mumbai are totally on a league of its own. It is absolutely insane to live in a matchbox building at some 20th floor and paying mind boggling 7c for it.
@@SilenceSerene I second you. Chandigarh is a beautiful city with minimal traffic, wide roads and open green spaces. The weather too is quiet reasonable and the mountains are just 100kms away. A nice place to stay.
@@anujrbx I did not say Mumbai is a bad city. I am just saying that property prices are too high. Your statement is very subjective. A person from say Hyderabad or Ahmedabad can also say that their city is an amalgamation of food, festivals and people. But the objective fact is property prices are really expensive in Mumbai.
India has 6major problems: 1. Corruption 2. Illiteracy and lack of awareness 3. Culture of Discrimination 5. Laziness 6. No unity among people 4. Politically motivated society The simple reason why the British was able to rule this country for more than 2 centuries and now brown sahebs are ruling us. Unless people unite and speak for their rights , all buyers tell the promoters : charge us reasonably or else we won’t buy. Woh keya uska baap bhi sudhar jayega
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
"Hence, Urban India is pretty much ignored" It's not ignored by politicians AT ALL. The corrupt politicians the majority of the urban voters elect to power themselves are the ones collecting bribes from the real estate industry. They keep doing it because they know, come election time, they can win votes based on religion and caste from the majority!
@@TheRishijoesanu the most of them are ignored, I think most of the indian do fear from the tall heights for that reason or simply they fear from the earthquakes
For the corruption we can't even blame a single government/party. If India has 1000 regional parties, all 1000 of them are corrupt. As a citizen we have to fight to end the corruption rather than blaming BJP over Congress or Congress over AAP. All of them are equally responsible for that. As a real estate developer's point of view Its equally important as they can also cut cost if they don't have to bribe 60 people for 60 approvals and it'll be easy to do business.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
Like he said. Corruption happens because common people want to buy house at circle rate and builders were also common people initially. If govt comes to take stand on this issue then state vs centre issue will start. And they would deviate.
As you all are knowing that corruption has increased a lot in the country and abroad and is increasing, so have you ever thought that how can one get rid of this corruption?
It's a bubble and it has to break , The Normal Indian just wants to run away from the country because its reasonable to love in London than in Mumbai . I have lived in london and found it's not just easier but better ( Financially too ) . It's the Govts restrictions and the finance policies in India that make it a hard to live in place .Thanks for sharing
Extremely valuable content, an AVERAGE (which is most of INDIA) person would not have ever known these facts. Working hard does not pay off these days anymore to honest people, since honesty is a burden now. Everywhere there are crooks waiting to squeeze an innocent for personal gains. SITTING IN GOVT are the people.
I am still trying to get a house for myself and my family, But I couldn't afford it. This is the truth and nobody will do anything and people like us will have to live forever in rent houses.
I was searching for rooms in Bangalore and your video is so on point. They leech money from hardworking individuals. Specially there are some societies which only rent through brokers and brokers charge exorbitant brokerage for even shitty apartments.
Nowadays, Corrupt money is going more into agricultural lands than urban properties. In the last 10 years, the price of agricultural land all over India increased by 10-15 times (Not on paper). Whereas Urban property prices have not even risen by 3 to 4 times.
This real estate problem affectes us students a lot. Few of my friends are paying 30k-35k per month just on rent in mumbai. Not even including other expenses like food, wifi, electricity, etc. 🙂
संत रामपाल जी महाराज जी का उद्देश्य है कि पूरी दुनिया से भ्रष्टाचार, रिश्वतखोरी समाप्त हो। संत रामपाल जी के बताये तत्वज्ञान से उनके अनुयायी न तो रिश्वत लेते और न देते हैं। इससे भ्रष्टाचार मुक्त समाज तैयार होगा।
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I am a Canadian who has traveled to India and Pakistan both, and I can say this is where Pakistan wins hands down against India. Housing is so much better in Pakistan, then in India. Most of the Indian houses I saw were very small and infrastructure of the houses was so bad, it felt like houses in India are 100 years older then in Pakistan. I traveled to Islamabad, Lahore and Karachi in Pakistan, the houses there are so beautiful and with western/Mediterranean designs and most of them were so new. In India I never saw such houses, most of them were so old, small and crumbling infrastructure, yet they were so expensive. The big huge mansions/villas in Pakistan are much more affordable. It seems there is huge corruption in India in the Real Estate Market, Indians are being cheated in buying these sh_tty houses. Please travel outside of India and see what you can get for the same amount of money you pay for sh_tty houses in India
FSI is based on rest of the infrastructure as well like width of the road, water facility, electricity availability, policing, etc. 😅 You can't just create big big building and be then stuck in traffic jams like Bangalore, Mumbai, Gurgaon, Noida etc.
True that.... And i also like to add what he said more fsi means more people to come to cities and reduce the overall rate... But he doesn't know the infrastructure to support that is negligent.... And with limited resource like water problem to overcome that infrastructure need more investment which ultimately going to strike up the taxes are people ready for that.... Also infrastructure needs time unless we are ready to invest tons of money on taxes which ultimately going to make a hole in your pocket so for that income also needs to be increase per person. I think this video was made in short time without in depth knowledge, just to get the scaler ad.....
@@shrikantchaudhari4252 there could be various policies to curb those difficulties. Owning a private vehicle is very costly in Singapore; so just like that we could promote public transport and improve it in major cities. FSI needs to be increased. The only major problem I see is drainage system and water availability. That means the cities need to be redesigned. Gov't needs to intervene and demolish illegal lands and homes. There are 100+ smart cities in India and proper planning is there but developing very slow. Population needs to be distributed there and new methods and new policies are needed there just like 1st world countries. The video was made perfectly okay, he's not a builder.
Look at Hyderabad…. Crazy real estate prices. Moved here from Delhi NCR. Now I have to deal with expensive real estate, dirty roads, completely lawless traffic, multiple beggars at signals, lazy and pathetic labour in general, horrible dilapidated government offices, indifferent people in general. But KT Rama Rao will tell you that Hyderabad is amazing for investment.😢
Delhi-NCR is much better in terms of infrastructure. Cleaner better roads, No beggars on roads, better maintained govt. offices ( though still pathetic but not as horrible as Hyderabad ) better maintained malls and open markets, way better attitude of people towards work in general.
I really like your explanation but you forgot to mention the RERA ( Real Estate Regulation Act), which came into force in year 2016 to regulate this sector also there is a new feature added in income tax site that if someone withdrawal huge amount from bank than it will be shown in your ITR as information....these are some of the efforts which government introduced to reduce black money.
When registering a private limited company (official, online, all white money), MCA Government officers still asks for black money to get name reserved. And Same with buying farm land, 1% of total amount goes to Government registry officer by black money. It's much better to do business in USA, rather than India. Trust me.
Please make more videos on this topic... Excellent topic.. This real estate is the most corrupt area. Every person has some properties stuck in court cases for 10-20 years... Hard earn money is looted from common man..
6:28 if someone who have 1 cr rupees & want buy home to voo 20% tax kuy de … uska bacha to government school me nahi jane vala.. usko to electricity bill me discount nahi milega … us tax se use jayda garbi ka fayda hoga jo 1 cr ka ghar hi nahi le sakate… That’s why india equal taxation hona chahiye
Excellent video! One major problem is the majority of companies opening their offices in prime locations or the metro cities in India. This insanely drives up the land rates as well as the rent prices and all of this heavily burdens the infra of that city. It would be awesome if companies and the government could work together to pave a way for office openings in tier 3 cities as well.
7:10 and people still say demonetisation was a great initiative by PM Modi, the only victims of that scheme were we middle class people, who almost went broke Imagine leaving every important work and standing in a long queue for days, weeks or even longer and still not able to exchange that piece of note you earned And at the same time, the capitalists, the billionaires didn't because they might have changed their currency notes already before the announcement of demonetisation, as the ruling party always has been too loyal to a few dozen richest sections of society. And the problem of black money is still there, so will they now implement a demonetisation 2.0 ? And I remember many of the BJP politicians, supporters and even news reporters like Sudhir Chaudhary claiming that the new 2000 rupee note contains a 'chip', which would prevent even the minute corruption.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I think you missed most important points, like How Indian property is inflated compared to other country. Buying power of Indian House on the basis of Average salary . I don't want to waste my whole life working just to buy a shitty flat in Mumbai or Delhi & live in unsafe place with corruption everywhere. This is the main reason why we want to leave India.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I believe the root cause of corruption in India is because of us, the people of India. The majority of us accept money during the elections, some even demand saying "that party is paying x, this party is paying y, how much are you willing to pay." from the election contestants. We need to change the perception of accepting money during elections and make it a taboo.
I am a Canadian who has traveled to India and Pakistan both, and I can say this is where Pakistan wins hands down against India. Housing is so much better in Pakistan, then in India. Most of the Indian houses I saw were very small and infrastructure of the houses was so bad, it felt like houses in India are 100 years older then in Pakistan. I traveled to Islamabad, Lahore and Karachi in Pakistan, the houses there are so beautiful and with western/Mediterranean designs and most of them were so new. In India I never saw such houses, most of them were so old, small and crumbling infrastructure, yet they were so expensive. The big huge mansions/villas in Pakistan are much more affordable. It seems there is huge corruption in India in the Real Estate Market, Indians are being cheated in buying these sh_tty houses. Please travel outside of India and see what you can get for the same amount of money you pay for sh_tty houses in India
The growth of Noida and Greater Noida halted mainly since builders have to pay 40% ''commission'' to authorities and officials. They have to build, sell the apartments and make profit in the remaining 60% - That's why most of the builders and consumers are suffering in NCR.
Starting from salaries, to corporate culture, to renting/buying property, to basic cost of living, everything seems so bleak and hopeless for young Indian adults. Where is the Joy in Life?
Bro a person have 1 - 2 crore rupees will get the visa of abroad and try to get some job there . Why he'll invest his money in any corrupted system ? Think logically
Mere ek dost ne Canada men ghar liya India se saste me. Now add the fact that incomes in Canada are several times higher, and loans cheaper. Now imagine how difficult it is to buy a house in India.
@@hardyzme other than avoiding sales tax & registration, this will create further problem with tax people later on. if you sell it, then you have to pay capital gains tax on the official gain on paper, not actual gain on housing price, which will much greater as your original buying price is officially very low, and you will not sale it based on that..as usual people perpetuate the black money route to hide the gain. Therein lies the problem..not only builders but even resell flat owners ask for black money.
Rental yields in India are one of the lowest in the world and if you want to rent, the cost in PPP is one of the lowest in the world no matter what city, so it's better for you to rent property and put the rest of the money into your NPF or PF account Also, you won't be able to buy a house in any major cities around the world, a house in London can cost you anywhere from 10 million GBP to 60 million GBP while the median wage is 1600 GBP per month after taxes Edit: the FSI that you have mentioned is inaccurate, FSI won't change anything, the higher the FSI, the worse the city design, the solution is nationalising real estate development and developing khrushchevkas or developing communal apartments like in 1920s USSR, or Georgism can be implemented and an authority like the Singaporean HDB can be implemented. Also, the 'corruption' that you have mentioned is not Corruption at all, it is bureaucracy and it's always going to be the case in a Capitalist country, you have to spend many years and a lot of money to get a building permit, its the same everywhere, the reason Singapore can build apartments fast is because the Singaporean Government owns all the land in Singapore and leases it out on 40-year or 99-year leases
If anyone wonders why there's no change happening- Here's an example of genius people who stop the change midway and make peace with whatever shitty living conditions they're being provided because "It's the same everywhere and that's how it works".
I think In our country there is a need for more cities(tech hubs) like Bangalore, Gurugram If we compare to USA there are San Francisco, New York, Seattle, DC, Detroit, Chicago, Dallas, Vegas, LA, etc that provide more employment opportunities And in India we only have Bangalore, Delhi and Gurugram, Hyderabad and Mumbai And Our Population is larger than every country except china
Your video is partially correct with respect to only Black Money. I have done a lot of research on dynamics of property ( home ) prices. The main reasons behind high and unaffordable price are 1. Black Money - which you already described. 2. Income Tax benefit - In congress rule, the income tax benefit was huge but after Modi Govt came in power, they removed benefit and now restricted to 2.5 lakh only. 3. Home loan - Why a low interest loan should be given to people buying a home for investment ? Solutions to each problem 1. Increase the circle rate to above the prevailing price so that black money transactions get curbed. And Govt revenues also can increase very much. 2. Income tax benefit to only home buyer who is going to stay in that house. Others should not be given any income tax benefit. 3. Home loan should be given at lower rate to only those who buys home for using it. For investors, home loan rate should be high and same as interest rate at which businesses get loan. 4. Income tax on empty houses assuming rental income ( higher than prevailing rental in that area) Without increasing FSI, property prices can easily drop by 50% if above suggestions implemented.
How To Live In Harmony With Nature And Reduce Pollution 1. Many Production Which We Do Not Need Actually For Human Beings Has To Be Stopped We manufacture so many products and it is creating pollution. So if we minimise our products, pollution would be less. We produce so many things which we do not need, like cold drinks, leather products, potato wafers, chips, fruit juices, chocolates, biscuits, pickles, ice creams, etc. Cold drinks, fruit juices, pickles, ice creams, etc. Should be cooked at home only. If we stopped producing this things which are not required for humans, so much pollution could be reduced. If we colour the clothes pollution occurs. So if we don't colour our clothes, the pollution resulting from colouring the clothes can be stopped. Let everything remain in natural colour. 2. We Should Cook Foods In Its Natural Form We can cook rice and wheat in our homes and eat it. Rice and Wheat is produced in farms. Then it is packed and transported to big warehouses, then wholesalers buy from them and supply to retail shops. But if a manufacturing company makes bread from rice and wheat, then to make bread a manufacturing company has to be set up, machines and working staffs are needed. When a company is built many other things are also needed. Then at last a plastic pack is required to pack the breads. So if we start cooking eatable things in its natural form then we do not need many companies like bread manufacturing company, tomato ketchup, noodles, fruit jam, pizza, burger, etc., the things required for the company and the plastic pack, paper box pack and glass bottles. If done like this, so many companies will not be required and hence less pollution for the world. Also we could save our money like this. If you buy a packet of bread, it would cost you more money than if you cook wheat and rice in home. Previously before industrial revolution, we didn't have technology, but our foods were rich with nutrients. Now we have technology, but technology is polluting our foods and our foods are not rich with nutrients, and because of that also we have health problems. If this is done, then many jobs would be lost. For that many peoples should do farming and they should be given loans if they do not have enough money to start farming on their own. Food, Medicines, Surgeries and Education's should be made free to the world till the world settles down with farming. After that food, medicines, surgeries and education's should be stopped free to the world. Many people should study botany subject so that they have knowledge of plants and they should do farming. Is their any another solution, that humans won't lose jobs and also pollution would decrease. Humans have to take this step certainly instead of going on polluting the earth, making wildlife extinct and also mass extinctions of humans in future. 3. Electricity Pollution We create electricity from many types of sources like coal, water, etc., but it creates pollution. If electricity created from windmill and solar energy then no pollution occurs in the creation process. But still to manufacture windmill and solar machines pollution would occur. As I previously said that if we shut down many manufacturing companies which are producing things which are not needed for humans, then the world would not require so much electricity. If less electricity required, then less pollution generated. 4. Could We Stop Drinking Cow's and Buffalo's Milk Whatever vitamins and nutrients we get from milk, if we can get it from other eatable things, then we can stop drinking cow's and buffalo's milk. As milk has to be packed in glass bottles and plastic packs and then transported to places. All of this can be stopped. For infants whose mother's have died or mother's who cannot breast feed their infants, only for them cow's and buffalo's milk should be given. We use milk in tea and coffee. Instead of milk we must use lime with tea and coffee or just plain tea and coffee. A lime should be cut into a few pieces and cooked with tea and coffee or something else can be used instead of lime. 5. How Much Should Be The World's Population Every place should have a single house. No buildings, everything ground floor. If we do this and the whole lands of our planet earth would be occupied one day with homes, farms, forests, schools, hospitals, etc., then we would come to know how much our planet earth can have maximum population. Once the population is determined, then we have to maintain that population. For example if our earth can have a population of 10 billion peoples, then when the population reaches 10 billion, then everyone should have only one child till the population reaches 9 billion peoples. As if we have only one child then the population decreases. When population is 9 billion peoples, then everyone should have 2 children's till the population reaches 10 billion peoples. After that again we should have only one child. In this way population can be maintained.
When remote work started... even the owners of the houses in the remote places started increasing the prices drastically.... it's about getting chance to loot the money... every human is an opportunist....
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
If FSI gets increased in Indian cities, it leads to bigger problems due to bad level of infrastructure. If you can’t afford houses in cities, live at outskirts and travel to work. You can’t overpopulate and destroy ecological balance.
We have 2 property only of 1000 sqft . And one house on one of the property 4 floors house. 4 flats in a metropolitan city. We get to this portion because of using black money. You call it crime'or what every politician and business man is criminal then. We payed 50 lacs on property rest Money in cash in black. Same way other properties. 24.6 lacks tax to 6.8 something. On each property. All these things done by my father and grandfather.
My family shifted to the USA in June 2011. The only way to have a home was to sell our ancestral land and buy a house, or to go to the USA and grow ourselves. My family chose growth. However, my mother couldn't speak English, so it was a big problem for her. She always remained isolated and didn't talk much to people. Americans were very rude towards her. She worked double shifts to send me to a good college. She hid her pain and took a loan from the bank to gift me a Microsoft laptop on my birthday. I am sorry, I can't express my pain. So we thought we would shift, and from there I completed my high school and college. Within a year after completing college, I was able to afford a home and manage my expenses. So itna asaan bhi nahi hota America me Ghar Lena. The same story is everywhere. Thank you for likes
Bura toh is baat ka lagta hai ki Indian Government ab apni image pure rakhne ke liye aesi achi videos hataye jaa rhi hai, GetsetflyFact aur Dhruv Rathee k videos hatayi gayi hai
I guessed 1 crore when he said at the start to guess the price... 😂 I wasn't surprised when he said 2 crores because it's Mumbai... But damn... 2 crores is a hell lot of money !!
My father bought a 80 gj plot 7 year ago in jaipur and the price was 7 lakh at that time,and the plot was not even in main jaipur.but in legal papers the price was less then 1lakh..
I live here in canda brampton recently my uncle bought bungalow of 3 cr which was quiet big a space of 4600 sq ft in outskirts of city and a good enviornment with less traffic and congestion.. my respect to mubaikers increased after seing their houses.. now i realised why mumbaiker nikhil wanted to shift to canada.
Very impressive study , myself working in real estate , it's a harsh truth but our govt is so corrupt that prices are increasing every quarter of the yr , btw great video I liked it .👍
I don't know what's the actual reason behind sky rocketing property prices in Mumbai, but surely saying our HYDERABAD DECCAN is the best place for building homes, 10k worker can also live here. Proud to be HYDERABADI.
Or how UPSC aspirants who get in due to reservation but don't have a good rank to become an IAS officer, give UPSC again using their "reservation" quota again lol.
Butthurt sarma baman won't make a video on historical caste privileges and access to wealth, education, resources and exploitative labour at the behest of which their socio-economic lifestyle has been forged. Sarmaji won't make a video on persistence of historical inequalities & historical inequities as a direct result of caste system. Cope lundit
FSI is not the only thing responsible..Major problem with metropolitan cities is actually non expansion in real sense..statistic confirm this, like Mumbai metropolitan area is meagre 2000sqkm whereas for New York it is 20000sqkm, tokiyo : 8000sqkm, shanghai : 6300sqkm..
You can't just increase floors per land. With existing limit itself we are not able to provide things like water . There is huge water crisis in cities like Bangalore. So, first you need to think of plans for such issues before increasing floors per Sq feet...
I have lived in Bangalore for 8 yrs. I have always loved the city. I got married and am planning to move out of my shared appartment and the increased rent prices have just hit us. This so unreasonable. Nothing new has happened in Bangalore. Our salaries are the same. Few landlords started and everyone has followed. We spoke to a owner who is charging the older rent of 26k from current tenants for 2 bhk but asked us to pay 40 k citing "rent badh gaya hai Bangalore me". This was a city i loved so much!!!! I don't even know if or where can we complain
This is something everyone is aware of who has tried entering the real estate market. It's horrible in India and no one will want to solve it as politicians get majority of their money through this source
The problem with removing corrpution now is that the people who have already bought a property will face heavy losses. It is a paradoxical situation now.
Since thses are not liquid assets they will face losses on paper so they should wait till the price go back up and digest the minimal losses. After all one can't go much longer destroying younger generation's lives forever, someday sooner or later this artificial inflation should deflate and better be soon since it will be win-win for all, the more time it takes the greater losses investors will face. Moral paradox for sure.
Another thing which I think would help solve the issue is if people did not have to migrate to metros for jobs. I have seen in Germany for example that even a small city e.g. Hannover has a pretty decent sized industry which translates to lot of jobs for the locals. The tendency of our MNCs to set up shop only in big cities is also something which encourages migration to the big cities. Probably this is due to connectivity issues in small towns.
IN european countries they have concept of University Towns, so instead of building a new university in a large city, they select a relatively small town and bulild Univeristy there. Thousands of students go there instead of adding into the big city, and the town also benefits from growth.
8:38 Correction: If the 'legal' price is 1Cr then due to corruption the 'illegal' price becomes 2Cr... Because the data says that if corruption were to be resolved the price would drop by 50% implying that 50% of 'illegal' is equal to 'legal' price... Therefore 'illegal' price is actually double the 'legal' price (since 50%=50/100=1/2, taking which to the other side makes it 2)... Small error but great video... 👍
Good to see my area R.T. Nagar, Bangalore in the video. I stay in an apartment on rent. Don't have any plans to buy any house because of highliy inflated rates.
One big reason for real estate being unaffordable is speculation, that is happening only because property rights are forever. If government makes it max 30-50 years just like apartments. All property will be brought back to market and highest bidder gets the property, people stop buying just for "appreciation". Plain speculation is both wasting money and making real estate unaffordable.
Boss. Check your facts. The FSI permissible in Mumbai is 6.7. Yes, purchasing FSI above base FSI (range b/w 1x - 1.3x) is expensive. But things will get rationalised once there is urban deterioration to keep up with the demand.
