Good for you guys in B'Lore ... Hope this has a domino effect in Mumbai and other parts of India as well. In Mumbai, if one is in the vicinity of newly constructed buildings at around 8.30 - 9 pm (by which time most ppl are usually home), you will observe no lights in atleast 60-70% of the flats.
If your circumstances allow you to .. please hold off your purchases .. even if you can afford these prices, pls do not put your family to risk by buying at a price which will entail a major part of your salary going towards an EMI -- think about how the loan will be serviced when these high paying jobs vanish .. remember 2001- 2002.
Basic economics of demand and supply will take care that prices gone down to those 3 years back. I have seen the same happen in the US ... it will happen here too.
Greedy investors and builders have just made life misarable for everyone wanting a roof over their heads. Economically, nothing dramatic has happened in the past 3 years for prices to go up three times, our incomes have not gone up 3 times nor has the population gone up 3 times nor is there a sudden influx of crorepatis into our cities. Only the rich are making more money, feeding politicians and builders.
Builders are also desperately trying to create a hype by splashing news paper ads, doctored articles, organizing mega events etc .. While they seem to have borrowerd a lot of this from classic Marketing books .. they seem to forget that marketing mix comprises of Price as well not just Promotion.
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