Originally Posted by frugality

the reason why the builder use this term is that wherever IT parks have been made owners have got very good rental in last 5 years.....

while 2003 the rentals were in range of 2-3 k now they are in 10-12k/
So they are alluring the future owners that if you buy here owing to the IT park and from IT employees you can charge handsome rent.

Now 30 - 40 percent of today's rentals are with Defense personnel whose "pensioners heaven" had been made hell or side income whatever.....
why IT/service sector employee pay high rental because they stay on sharing basis and so 500 or 1000 here and there does not make a difference ....

So when there was scope of high rentals .... RE seemed to be a very good investments .... at the price during 2004 - 2005 .. then it became fashion ... oah you haven't bought a flat ??
BOSS grow up .... go now and order a flat ...
....
Hey I am going for booking will you join me ..
aah yes ... let me fetch my cheque book ....
can we book on ??
of course. ....

every one who has money became suddenly hellish interested in Major cities RE.
a 15 - 20 L flat giving you rent of 6 - 8 thousand in year 2006 what else you can dream for ???

that lead to mad race ... and in India the scales are higher and knowledge/common sense is ignored for Greed.

but consider now the case for a IT/service industry person having family and how tough for him to pay such high rental of 10k.....
and we talk about him owning one ...

IMPOSSIBLE for him .... how do you expect him to pay 35K EMI when take home is maybe in range of 30 - 50 K
majority of Service industry falls in this.

And its their DUTY to create the "feel good factor" even though their pockets may be empty.

So builders are not targeting IT people now .... rather wealthy individuals who have money to invest and forget for long term.