frugality

What could be bought in top deal that happened in Mumbai ... 36Crore

http://www.realtor.com/realestateand...131_1099918551 7.8 million USD 10,910 Sq Ft on 15 Acres

check the pics ... this is in Las Vegas ... (a celebrity's house)
http://www.realtor.com/realestateand...141_1099131062
Everything is damn customized and fully furnished ....
and design .... that you can find in Inside outside Magazine .....

http://www.realtor.com/realestateand...141_1115695821 9.9 million 13,489 Sq Ft on 0.93 Acres (40,510 Sq Ft Lot)


11,677 Sq Ft on 1.51 Acres

And if 10 Million is too high price ....
just check this one ...

1 Million USD or 4.5 Crore .. 4,030 Sq Ft on 0.27 Acres (11,761 Sq Ft Lot)

http://www.realtor.com/realestateand...141_1109905816

http://www.realtor.com/realestateand...135_1108954797 1.2 million thats 5 crore
4,110 Sq Ft on 0.27 Acres (11,761 Sq Ft Lot)

frugality

In Rest of World Handmade .. customized is class apart ....
ready-made or factory made is for the Masses ....

while Mumbai and Pune flats are like factory made shirts ...

No customization ....
No individuality....


All in same shape ... same poor window designs .... same architecture pattern.......

But prices tell as if they are made by some World fame Architect ...where every single material is customized ...

mindguru

Look for description and condition of houses in burbs of NYC in say queens, patterson, LI and then get back to me with their prices and description.

Try making a smart research ... do you ever been to vegas. You can only see for miles new condos ready to move but all boarded up. You cannot bring city to life just because wallstreet could securitize any debt faster than you can build houses. Its a dead town ... in fact not even dead town because to be dead one has to be alive first. Its stillbirth in most part of vegas. Its a town of sleaze and will be tombstone for greed of american housing.

Indian cities are quite far far from that level of greed. India's housing boom is due to innovation of mortgaging (which came to us in 60s) while US boom in housing was due to credit related innovations. Yes indian asset prices have run maybe five years ahead of their time but in Vegas they had gone atleast 20 years ahead of time. Remember vegas homes were third homes for american homes while in india we barely have people able to get into their first homes.

realacres

The issue is not of price but median incomes: RE price ratio as well + infra & quality of living. Rates at Aundh are comparable directly with some of the best areas in Aus cities, not to mention that their avg incomes is almost 50 times than that of India. Same goes with Canada as well.

__________________
It takes Hands to build a House but only Hearts can build a Home!

mindguru

Again the same fallacy ... falling for mean medians. Look for the demand and supply. Our median income would be pathetically bad but our top quintile will be as big as australia's population and they are driving the demand. Mind you I am not a RE bull. (infact right now I am trying to build a strategy to encash on upcoming asset price corrections.)

You guys are smart enough to know that india doubled its real GDP in last 6 years and next double will come sooner than that. This gets absorbed in asset prices. Its just that sometimes valuation overrun the reality and they get corrected. One can see a 5-10% correction in a year from now.

realacres

Now here are 2 points:-

1. Prices more than doubled in 3 years,
2. The unsold inventory is more than demand, hence the demand supply logic is flawed.

frugality

What I am trying to prove is ... Pune and for that Matter Mumbai builders are selling useless and third grade stuff...
at the price of Super expensive .....

Why are you getting irked by Las Vegas ... there are examples of other places too...for that matter compare the par capita of Las Vegas too with Mumbai ...

Just wanted to show how good a customized home looks like .... if you can't apprise the beauty
Not my problem .... A single such house ad. you find me in Mumbai ... and Pune Mumbai rates are like anything ...just for the four walls!!! Right

realacres

Without the guarantee of roof. Anyways, nice pics man. Liked that. Infra + quality of life is important than anything else when it comes to RE.

bheeshma

a 5 - 10% correction means what? instead of quoting 3500 psf builders will quote 3325 in one year? Happy strategizing mate!!!!!

mindguru

Point taken!

If your intention is to highlight stark differences then I understand but I will warn you beauty lies in the eye of beholder.

I have been exposed to both sides of this paradigm. MY RE has paid of only in India and has been a big dud in US. We will get to that when india becomes developed country. Right now having a roof is luxury for most and I am damn sure owners of 2 bhk lodha, mantri, lunkad, sobha, purvankara and so on feel their houses are more beautiful than those of mcmansion guys in middle america.