Originally Posted by Sharpj

People are not selling because of greed brother..
I was looking for a 1 BHK in chembur.. Budget was 25 to 30 L.. yes nothing was available... I was shown a poorly maintained apartment in a 15 year old building and the price was 54 lakhs (negotiable) which was way beyond my budget and though I had no intention to buy that.. Within a week however the seller raised price to some 70 lakhs because in the street a building had gone for re development and the broker was selling me saying it is still a great deal and if it goes for redevelopment I will get a 2 BHK and in the current rate of 12 to 13 K psf.. it would be 1.2 crores.. this is a bubble .. nothing changed here but price just went up in 2 weeks..
Distant suburbs is fine if my work is in distant suburbs.. whats the point to life if I travel and work for 12 - 14 hours a day.. no NRI would do that..

If it is always going to be so high.. Mumbai will never get out of the slums.. middle class is not just IT, Bankers, and media.. there are plenty more.. the vast numbers that hang out of the second class local trains..