Hereby I will prove how the realty boomers arguments are false.

What are the boomers arguments?

1.) Buy today, houses always increase in value in the long run.
WRONG. House prices cannot increase more than incomes in the long run. This is obvious if you think about it. If house prices go up more than people can afford to pay, buying stops, like it has stopped now.
Even Warren Buffett have pointed out that houses don't increase in intrinsic value. Unless there's a bubble or a crash, house prices simply reflect current salaries and interest rates. If a house is 100 years old, it's value in sheltering you is exactly the same as it was 100 years ago. Then came the maintenance as the house didn't renovate itself. It also has taxes, and insurance - costs that always increase and never go away. The price of the house went up about as much as salaries went up.
To put this is simple perspective, vegetable were costing Rs.5-6/kg when 5 digit salary was a rarity.
Today, the prices have gone up by about 4 times but so have the salaries. So, sounds very much like the reasoning people use now when they talk about how much their father's house appreciated "in the long run" without considering that salaries rose a proportional amount.

2.) Renting is just wastage of money.
WRONG. As said before renting is now much cheaper per month than owning. If you don't rent, you either:

* Have a mortgage, in which case you are throwing away money on interest, tax, insurance, maintenance, costs that increase forever.
* Own outright, in which case you are throwing away the extra income you could get by converting your house to cash, investing in bonds, and renting a similar place to live for much less money. This extra income is sufficient for emergency expenses,retirement etc.

Either way, owners lose much more money every month than renters and that's assuming prices don't correct to very high level & everything is smooth in the economy.

3.) As a renter, you won't have any money left as you will spend them on vacations,cars & hence won't have equity/savings etc.
WRONG. Equity is just money. Renters are actually in a better position to build equity/savings through investing in anything but housing. Renters can get rich much faster than owners, just by investing in conservative stocks & bonds.

* Owners are losing every month by paying much more for interest than they would pay for rent. The tax deduction does not come close to making owing competitive with renting.
* Owners must pay taxes simply to own a house. That is not true of stocks, bonds, or any other asset that can build equity/savings. Only houses are such a guaranteed drain on cash.
* Owners must insure a house, but not most other investments.
* Owners must pay to repair a house, but not a stock or a bond.
* Owners lose their money as house prices reduce. The EMI's remain constant in spite of reduction in rates. At the end of loan tenure, they would have paid almost twice than that of current renters who will buy at logical rates. Keep interest rates in mind. Most of the EMI is not principal amount but interest.

4.) There are great tax advantages to owning a house.
WRONG. Many people believe you can just reduce your income tax by the amount you pay in interest, but they are wrong. Buyers may not deduct interest from income tax; they deduct interest from taxable income. And even then, the tax advantage is not significant compared to the large monthly loss from owning.

If you don't own a house but want to live in one, your choice is to rent a house or rent money to buy a house. To rent money is to take out a loan. A mortgage is a money-rental agreement. House renters take no risk at all, but money-renting owners take on the huge risk of falling house prices, as well as all the costs of repairs, insurance, property taxes, etc.

5.) RE is based on local factors, it's not a national phenomenon. RE of Delhi-NCR,Bangalore & rest of the cities has nothing to do with Pune RE.
WRONG. Lending rates remain the same throughout the country. ALL loans are harder to get. This will drive prices down everywhere.

6.) A rental house provides good income. So, you can rent if you have purchased as investment.
WRONG. Rental houses provide very poor income in hyped areas and certainly cannot cover mortgage payments. Remember there is almost 300% difference between EMIs & rent for the same house.

It's pointless to do the work of being a landlord if you can make more money with no risk, no work, and no state income tax by investing in assured good returns bond.

7.) If owning is a loss in monthly cash flow, but appreciation will make up for it.
WRONG. Appreciation is negative. Prices are going down. It only adds to the injury of already high EMI's.

8.) As soon as prices drop a little, the number of buyers on the sidelines willing to jump back in increases.
WRONG. There are very few buyers left, and those who do want to buy will be limited by increasing difficulty of borrowing now that many house owners are near bankrupt as they don't save anything at the end of the month due to high EMI's.
No one has to buy, but there will be more and more people who have no choice but to sell as their payments rise. That will keep driving prices downward for a long time.

9.) House prices never fall atleast in Pune.
WRONG. If you see the RE scenario of 1996, prices crashed by 50% & took a whole 7+ years to recover.
Exact 1996 scenario may not be there today but strong correction is inevitable across the city.

10.) House prices don't fall to zero like stock prices, so it's safer to invest in real estate.
WRONG. House prices won't be zero, but the equity or the principal amount you paid can be zero or even negative. What you will pay as EMIs later in actual terms is not for the principal amount but only the interest as house prices dip. So, you will be only serving the bank.

11.) Prices will soften gradually, won't crash immediately.
WRONG. Prices are falling off a cliff. No one knows exactly what will happen, but it looks like prices will continue to fall for long time. These are just more manipulation of buyer emotions, to get them to buy even while prices are falling.

12.) The bubble prices were driven by supply and demand alone.
WRONG. Prices were driven by low interest rates and risky loans & good returns for investors in initial phases of boom in 2004-05.
Prices went up, interest rates went up & buyers savings went down. So prices are violating the most basic assumptions about supply and demand.

13.) There is lack of land.
WRONG. Ample of land is available & continue to be even in future in Pune. Sales volume are down. Even in Japan (small country with less land), prices went down. Current prices here are the same as that of 23 years ago. If we really had a housing shortage, there would not be so many vacant rentals.

14.) If you don't own, you'll live in a cheap neighborhood later.
WRONG. For the any given monthly payment, you can rent a much better house than you can buy. Renters live better, not worse. There are downsides to renting, such as being told to move at the end of your lease, or having your rent raised, but since there are thousands of vacant rentals, you can take your pick and be quite happy renting during the crash. There are similar but worse problems for owners anyway, such as being fired and losing your house, or having your interest rate and property taxes adjust upward. Remember, property taxes are forever.

15.) There's always someone predicting a real estate crash.
TRUE, yet irrelevant. There are very real crashes every decade or so. Even a broken clock is right twice a day.

16.) Local incomes justify the high prices.
WRONG. The mortgage should be more than your 3 years earning. It is much higher today. Most are already in danger/red zone.

17.) You have to live somewhere.
CORRECT. But that doesn't mean you should waste your life savings on a bad investment. You can live in a better house for much less money by renting during the down slide in RE.

18.) It's not a house, it's a home.
WRONG. Wherever one lives in it is home, be it apartment, condo, bungalow , mansion or house. Calling a house a "home" is a manipulation of your emotions for profit.

19.) If you don't buy now, you'll never get another chance.
WRONG. History proves otherwise.
Here's a beautiful quote from a analyst:-
"The real issue isn't whether you will be stuck being a renter all your life, she says. Its whether you'll get so scared about being shut out that you'll buy at the market's peak and be stuck in a property you can't afford or sell."

20.) It would take major economic recession or a major earthquake that wipes out this area in order for the price to fall by over 50%.
WRONG. Even today, if the prices fall by 50%, there will still be very few people who can buy at this levels due to uncertainty in jobs & most importantly high EMIs. Also, look at the rental rates for equivalent houses. Which loss per month is larger? EMI or rent?

contd....
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  • Originally Posted by realacres
    This is precisely what we say here:-

    Pay for first class & travel by economy class or maybe even tier-2 by train :D.

    Rather than spending lacs on builder, one must go abroad, see how things are there & then take a final call. Not to forget that in several countries, there are stringent norms for developers in terms of quality, delivery etc. & where customer can sue them for damages. Here in India, the buyer pays through his nose & acts like a beggar in front of builder as if builder is doing some favor by giving the flat.



    Still a large number of the premium flats are booked by NRI's.

    The reason being the excess money which they want t0 park at a place where it can grow.
    Gurgaon, Delhi, Mumbai are full of such investors which are keeping the rates high for the real estate.

    When the recession hits the world even though India was effected pretty much late but since these NRI's are hit and they stop buying its then that the prices come down.
    CommentQuote
  • Originally Posted by realacres
    This is precisely what we say here:-

    Pay for first class & travel by economy class or maybe even tier-2 by train :D.

    Rather than spending lacs on builder, one must go abroad, see how things are there & then take a final call. Not to forget that in several countries, there are stringent norms for developers in terms of quality, delivery etc. & where customer can sue them for damages. Here in India, the buyer pays through his nose & acts like a beggar in front of builder as if builder is doing some favor by giving the flat.


    Very well worded, realacres. I was going thru this thread & it is as if many of my thoughts are reflected here. Its a great discussion that captures the changing realities of the real-estate market.
    One of my puzzles is this:why is every city going for the 'vertical development' model? Its not that land is scarce in India. Why not have the 'horizontal' model of independent houses with nice gardens and plenty of open/green areas? What's this with ugly towers and shodddily built matchbox buildings? Yuck. And we're supposed to call these matchboxes 'homes'? I would opine that this whole vertical model is wrong for our country. No way I'm going to pay half or quarter crore for matchboxes.
    I know, I know, infra is the key. If good roads are developed around a city, people will prefer to build their own houses in quiet areas away from the city madness. But then what will happen to billions invested by politicos ? What a scam. are reflected here. Its a great discussion that captures the changing realities of the real-estate market.
    One of my puzzles is this:why is every city going for the 'vertical development' model? Its not that land is scarce in India. Why not have the 'horizontal' model of independent houses with nice gardens and plenty of open/green areas? What's this with ugly towers and shodddily built matchbox buildings? Yuck. And we're supposed to call these matchboxes 'homes'? I would opine that this whole vertical model is wrong for our country. No way I'm going to pay half or quarter crore for matchboxes.
    I know, I know, infra is the key. If good roads are developed around a city, people will prefer to build their own houses in quiet areas away from the city madness. But then what will happen to billions invested by politicos ? What a scam.
    CommentQuote
  • I know, I know, infra is the key. If good roads are developed around a city, people will prefer to build their own houses in quiet areas away from the city madness. But then what will happen to billions invested by politicos ? What a scam.

    You have already summed it up - anyways look at the width of Indian roads - the busiest roads on Delhi is mere 100ft wide a joke indeed - I am not sure but somehow we indians prefer to live in congested crowdy surroundings .

    I know at least 10 families who own 1 acre farm houses in Delhi but still they prefer to live in crowded places.

    By the way I too like to live in a place where activity is visible even at 2 in morning :) May be my grandkid would prefer to live in lonely place in a 5 acre plot which is middle of no where

    Yeah I bought a six acres piece of land just thinking that about 40 miles from the heart of the city. I guess that would have some relevance in 30 years from now.

    Till then .......

    rohit
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  • Very well put Rohit ! We have a herd mentality resulting in scarcity of land which is exploited by RE agents and builders.

    But, your decision will prove right in the future. Connectivity is getting better slowly and am sure your 6 acres will made full use of by your next generation :-)
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  • Originally Posted by SanjanaSingh
    Very well worded, realacres. I was going thru this thread & it is as if many of my thoughts are reflected here. Its a great discussion that captures the changing realities of the real-estate market.
    One of my puzzles is this:why is every city going for the 'vertical development' model? Its not that land is scarce in India. Why not have the 'horizontal' model of independent houses with nice gardens and plenty of open/green areas? What's this with ugly towers and shodddily built matchbox buildings? Yuck. And we're supposed to call these matchboxes 'homes'? I would opine that this whole vertical model is wrong for our country. No way I'm going to pay half or quarter crore for matchboxes.
    I know, I know, infra is the key. If good roads are developed around a city, people will prefer to build their own houses in quiet areas away from the city madness. But then what will happen to billions invested by politicos ? What a scam.
    Fact is India doesn't have scarcity of land but scarcity of developed/livable land. If infra is made to the outskirts through better connectivity & building permissions given transparently, many people will build on their own.

    Other aspect is component of cash in buying land which is as high as 55-70% of total cost. Now, as most of the people can't pay so much cash, they are left out.

    However, one good business is buying a big plot, doing plotting & then selling it in smaller pieces. This way, builder + buyer both benefit. But no builder is doing this right now as the margins by selling flats are huuuuuuuge compared to land.

    Once proper demarcation of land is done with good connectivity & proper water supply, rates will drop in city + people will go for horizontal development than vertical.

    * PS:- I love Nagpur for this reason:- Good roads, nice bungalows & horizontal development. I think Satellite city for Pune will be on this lines.

    Btw, I don't understand the logic of building 24 storey building in gram panchayat called Hinjewadi. Globally, only the central areas & CBDs have high rises while outskirts have big bungalows with big gardens, driveways etc.

    The builders here are only bothered about selling future dreams like Manhattan of Tomorrow, California of Tomorrow, Swiss of Tomorrow.....:D .

    Other aspect is component of cash in buying land which is as high as 55-70% of total cost. Now, as most of the people can't pay so much cash, they are left out.

    However, one good business is buying a big plot, doing plotting & then selling it in smaller pieces. This way, builder + buyer both benefit. But no builder is doing this right now as the margins by selling flats are huuuuuuuge compared to land.

    Once proper demarcation of land is done with good connectivity & proper water supply, rates will drop in city + people will go for horizontal development than vertical.

    * PS:- I love Nagpur for this reason:- Good roads, nice bungalows & horizontal development. I think Satellite city for Pune will be on this lines.

    Btw, I don't understand the logic of building 24 storey building in gram panchayat called Hinjewadi. Globally, only the central areas & CBDs have high rises while outskirts have big bungalows with big gardens, driveways etc.

    The builders here are only bothered about selling future dreams like Manhattan of Tomorrow, California of Tomorrow, Swiss of Tomorrow.....:D .

    Other aspect is component of cash in buying land which is as high as 55-70% of total cost. Now, as most of the people can't pay so much cash, they are left out.

    However, one good business is buying a big plot, doing plotting & then selling it in smaller pieces. This way, builder + buyer both benefit. But no builder is doing this right now as the margins by selling flats are huuuuuuuge compared to land.

    Once proper demarcation of land is done with good connectivity & proper water supply, rates will drop in city + people will go for horizontal development than vertical.

    * PS:- I love Nagpur for this reason:- Good roads, nice bungalows & horizontal development. I think Satellite city for Pune will be on this lines.

    Btw, I don't understand the logic of building 24 storey building in gram panchayat called Hinjewadi. Globally, only the central areas & CBDs have high rises while outskirts have big bungalows with big gardens, driveways etc.

    The builders here are only bothered about selling future dreams like Manhattan of Tomorrow, California of Tomorrow, Swiss of Tomorrow.....:D .

    Other aspect is component of cash in buying land which is as high as 55-70% of total cost. Now, as most of the people can't pay so much cash, they are left out.

    However, one good business is buying a big plot, doing plotting & then selling it in smaller pieces. This way, builder + buyer both benefit. But no builder is doing this right now as the margins by selling flats are huuuuuuuge compared to land.

    Once proper demarcation of land is done with good connectivity & proper water supply, rates will drop in city + people will go for horizontal development than vertical.

    * PS:- I love Nagpur for this reason:- Good roads, nice bungalows & horizontal development. I think Satellite city for Pune will be on this lines.

    Btw, I don't understand the logic of building 24 storey building in gram panchayat called Hinjewadi. Globally, only the central areas & CBDs have high rises while outskirts have big bungalows with big gardens, driveways etc.

    The builders here are only bothered about selling future dreams like Manhattan of Tomorrow, California of Tomorrow, Swiss of Tomorrow.....:D .
    CommentQuote
  • Originally Posted by realacres
    Fact is India doesn't have scarcity of land but scarcity of developed/livable land. If infra is made to the outskirts through better connectivity & building permissions given transparently, many people will build on their own.

    Other aspect is component of cash in buying land which is as high as 55-70% of total cost. Now, as most of the people can't pay so much cash, they are left out.

    However, one good business is buying a big plot, doing plotting & then selling it in smaller pieces. This way, builder + buyer both benefit. But no builder is doing this right now as the margins by selling flats are huuuuuuuge compared to land.

    Once proper demarcation of land is done with good connectivity & proper water supply, rates will drop in city + people will go for horizontal development than vertical.

    * PS:- I love Nagpur for this reason:- Good roads, nice bungalows & horizontal development. I think Satellite city for Pune will be on this lines.

    Btw, I don't understand the logic of building 24 storey building in gram panchayat called Hinjewadi. Globally, only the central areas & CBDs have high rises while outskirts have big bungalows with big gardens, driveways etc.

    The builders here are only bothered about selling future dreams like Manhattan of Tomorrow, California of Tomorrow, Swiss of Tomorrow.....:D .

    My 6 acers are in Nagpur only :D

    Rohit
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  • Credit default

    Many Builders are not even aware that their name will enter into Credit Bureau on March end. They are still thinking in old way that Bank will extend the loan with some penalty OR they may foreclose the property & builders will get away from it.

    The “Credit Bureau” policy in India is just one way traffic. Once name enters, it will keep highlighting the character for next 5-7 years. One can’t challenge it nor dispute it. If RBI wants to copy it like USA at least they should have copy it completely. In USA one can challenge it or dispute the credit record.

    Anyway, we will see more fun in long run.:bab (59):
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  • Very well done posts guys, a nice independent villa in Jersey or any of the suburbs around Manhatten will be less than a million(between 2-5 crore the kind they sell posters of in India), for a million (4.5 cr) you can get a all built villa with a football field in front and swimming pool, mountains in background a prestine lake along side, wall mart, costo, macys or any other really big store you can think of, shops holding all the brands in the world at the price visiting India's malls one can't even think of(sample this tommy polo shirts for $15/Rs600-700, or cashmere sweaters less than Rs 2000 all made in India :bab (45):). You get broadband, electricity, drinking tap water, security, hospitals, maintained roads/highways all as basic norms.

    Now you check with some Noida expressway/Gurgaon builder and prices quoted for an under construction property which may be delivered in 10 years time price range 3 cr, 5 cr, 10 cr. 1 crore ka to flat hai 3 bedroom ka matchbox in a 20 storey building, jaise ke sona gaad ke denge har wall me. Its all black money in use so balantly, they just annouce a road to jack up the prices beyond the reach of a common man, leave alone basic amenities. such a shame ke ek flat ka price 1 crore hai 'cause wo road ke bagal me hai and that road will be there in 5 years.

    Hope things change, and markets mature in India.
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  • Now look at these jokers, one is "Ex MLA" of sohna another is small time gurgaon builder, and we were thinking who buys a 10 crore villa or 2 crore matchbox
    :bab (4):
    Barber gets Rs 2.5L in big, fat Gujjar wedding - The Times of India
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  • India Against Corruption

    www.indiaagainstcorruption.org



    Please take copies of this pamphlet and spread the message
    a mahatma announces
    fast unto death


    When & Where? 5th April at Jantar Mantar, New Delhi.
    Who is Anna Hazare? A soldier, lone survivor in his unit in 1965 Indo-Pak war, Anna dedicated his life to the well-being of society. A bachelor, an ascetic, he has no possessions, no bank balance and lives in a temple. He is a living Mahatma Gandhi!
    This is a defining moment for India that can give our children a better future! Let us unite and stand by him! Thousands will be there to support him. Will you be there?
    In Maharashtra, Anna has single handedly transformed barren and dry regions into green and food surplus areas. He has fasted unto death on several earlier occasions. He forced the Maharashtra government to dismiss the corrupt - 6 ministers and 400 officers. Due to his fast, the govt enacted the Maharashtra RTI Act. In 2006, when government of India tried to amend the Central RTI Act, he again went on an indefinite fast and forced the Indian government not to amend RTI Act.
    Leaders, organizations and the common man from across India will be with him. This is a do or die moment – let us make it happen!
    Across India, join Swami Ramdev, Sri Sri Ravishankar, Swami Agnivesh, Arch Bishop of Delhi Vincent Concessao, Mahmood A Madani, Kiran Bedi, J M Lyngdoh, Shanti Bhushan, Prashant Bhushan, Arvind Kejriwal, Mufti Shamoom Qasmi, Mallika Sarabhai, Arun Bhatia, Sunita Godara, All India Bank Employees Federation, PAN IIT Alumni Association, Common Cause and many other prominent organizations and leaders, as India comes out on the streets! 100+ CITIES WILL RALLY BEHIND ANNA!
    Come and stay with Anna at Jantar Mantar for a few days from 5th April.


    Anna’s appeal to the people:
    When I sit on fast from 5 April, I urge my fellow countrymen to
    Join me in fasting for one, two, three or whatever number of days you can comfortably fast.
    Along with fast, please pray to God (whoever you believe in) for better and corruption free India. Collective prayers from all the people of India would definitely have a huge impact.
    Write an impassioned plea to our Prime Minister that we look upon him to pass “Jan Lokpal Bill”, else we will be compelled not to vote for his party in next elections.
    Remain calm and peaceful and develop the courage to go to jail, if required, in this next freedom movement.
    To stay updated about movement, either send a missed call at 02261550789 or send us your email ID
    India Against Corruption: A-119, Kaushambi, Ghaziabad, UP | 09718500606www.indiaagainstcorruption.org | indiaagainstcorruption.2010gmail.com | facebook.com/indiacor
    Salient features of Jan Lokpal Bill
    Drafted by Justice Santosh Hegde, Prashant Bhushan and Arvind Kejriwal, this Bill has been refined on the basis of feedback received from public on website and after series of public consultations. It has also been vetted by and is supported by Shanti Bhushan, J M Lyngdoh, Kiran Bedi, Anna Hazare etc. It was sent to the PM and all CMs on 1st December. However, there is no response.
    1. An institution called LOKPAL at the centre and LOKAYUKTA in each state will be set up
    2. Like Supreme Court and Election Commission, they will be completely independent of the governments. No minister or bureaucrat will be able to influence their investigations.
    3. Cases against corrupt people will not linger on for years anymore: Investigations in any case will have to be completed in one year. Trial should be completed in next one year so that the corrupt politician, officer or judge is sent to jail within two years.
    4. The loss that a corrupt person caused to the government will be recovered at the time of conviction.
    5. How will it help a common citizen: If any work of any citizen is not done in prescribed time in any government office, Lokpal will impose financial penalty on guilty officers, which will be given as compensation to the complainant.
    6. So, you could approach Lokpal if your ration card or passport or voter card is not being made or if police is not registering your case or any other work is not being done in prescribed time. Lokpal will have to get it done in a month’s time. You could also report any case of corruption to Lokpal like ration being sid off, poor quality roads been constructed or panchayat funds being sid off. Lokpal will have to complete its investigations in a year, trial will be over in next one year and the guilty will go to jail within two years.
    7. But won’t the government appoint corrupt and weak people as Lokpal members? That won’t be possible because its members will be selected by judges, citizens and constitutional authorities and not by politicians, through a completely transparent and participatory process.
    8. What if some officer in Lokpal becomes corrupt? The entire functioning of Lokpal/ Lokayukta will be completely transparent. Any complaint against any officer of Lokpal shall be investigated and the officer dismissed within two months.
    9. What will happen to existing anti-corruption agencies? CVC, departmental vigilance and anti-corruption branch of CBI will be merged into Lokpal. Lokpal will have complete powers and machinery to independently investigate and prosecute any officer, judge or politician.
    JAN LOKPAL BILL will act as deterrent and instill fear against corruption
    (This movement is neither affiliated nor aligned to any political party)
    India Against Corruption: A-119, Kaushambi, Ghaziabad, UP | 09718500606www.indiaagainstcorruption.org | indiaagainstcorruption.2010gmail.com | facebook.com/indiacor
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  • PM invites Hazare to Delhi for discussion on Lokpal Bill

    PM invites Hazare to Delhi for discussion on Lokpal Bill, IBN Live News

    PM invites Hazare to Delhi for discussion on Lokpal Bill

    PTI | 03:03 PM,Mar 03,2011 New Delhi, Mar 3 (PTI) Prime Minister Manmohan Singh today invited anti-corruption activist Anna Hazare, who has threatened to go on an indefinite fast if the government failed to draft a strong Lokpal Bill, for a discussion on the issue. PMO sources said the Prime Minister has invited Hazare for a discussion as he has some views on the Lokpal Bill. The sources said that Hazare could visit and meet the Prime Minister at his convenience. Demanding enactment of a strong anti-corruption law on the lines of Jan Lokpal Bill, Hazare, who addressed a press conference here on Saturday last, threatened to go on an indefinite fast from April 5 if the Prime Minister does not act decisively on his suggestion by March-end. Hazare had wondered how the government could pass the anti-corruption Bill without consulting anyone from the civil society.
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  • I visited the website. This really seems to be a good initiative. Also lots of clean and credible people are involved in this. :bab (22):
    Bravo...I am going to participate in this...We need a change in system now and this can not be done unless people like us participate, promote and pray for such noble causes!

    :bab (6):
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  • Hassan Ali

    Who is protecting Hasan Ali? Is it Pawar?
    whats the inside dope on this Real...
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  • Originally Posted by Sharpj
    Who is protecting Hasan Ali? Is it Pawar?
    whats the inside dope on this Real...

    You are right man, Bobada Pawar is one chap in this. Confirmed.

    Btw, Hasan Ali is not that rich as media claims. He is just a small chap acting more like a 'Manager' of the illegal money of politicos & criminals & drug lords, some based in middle east & ASEAN region.

    Hasan Ali getting caught means these politicos & criminals loosing their pound of flesh, hence this thing.

    Now, CVC moron Joseph gone, pressure is building on Congress led UPA2 to act against this chap. Another in firing line is Pune MP Kallu who may get arrested in next few days. Congress is avoiding this coz if Kallu goes in, Delhi CM Shiela ki jawaani will come out in open :D, which will lead to chaos in Delhi Govt :D. Lets see what happens.
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  • Nice sarcastic article about current RE state

    And the Property Supplement contained hundreds of other such DREAM HOMES. They weren't all called Whispering Woods. Some were called Murmuring Meadows. Others were called Peaceful Pines. But they all had names associated with tranquil, pollution-free Nature. Preferably Nature located not in smelly, dirty old India, but in California, or Florida, or Timbuctoo, or some such exotic locale, whose desirability as a residential address is in direct proportion to its remoteness from the daily desi reality of stray cows and dogs and garbage heaps and potholes and noise and dust and power cuts and dry water taps.


    Unreal estate : Living : Jug Suraiya : TOI Blogs

    Attached Golf Courses are the latest indispensable feature of Indian Dream Homes. The average Indian family mightn't be able to afford to buy onions. But no average Indian Dream Home can call itself a Dream Home unless it has a Golf Course attached.
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