Market is again bullish. I heard that, builder lobby is going to charge 3100/- in wakad. I am not seeing any hope to crash the RE.

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  • realacres,
    Dont agree at all. Business man(a doctor is also a business man. Most of doctors are more worried of extracting money from patient rather than taking care of their health.), has typically tons of black money. One of my friend, easily makes 5L+ / month profit and does not pay single rupee as tax at the end of the year. You can find loads of cash in any pocket of his car. Such people easily spend in hotels/clothes, they have no place to keep that money other than to spend lavishly.
    Not the case with IT guy with 100% white money. How do you justify the real example I have given of "Coffee Day" survived in TCS office only for 4-5 months and shut the shop and disappeared
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  • well said realacres,
    - About naming those boys bolstering about their success and comparing with fathers that’s really amazing. I guess u named those thrash as ‘boy’s’ quite honor. Our earlier generation did not have these kinds of opportunities, anyways there is so much can be writte about that but you have labled them correctly.
    - I am not defending, but we can’t compare BM and ITG as they both have different goal, BM wants to create wealth and ITG just wants to relax after working hard for 10 years and then he wants to live peaceful life by becoming Project manager. :D which never happens he just runs, he can not stop coz EMI's are for 20 years ;)
    - I suppose ITG having vitues of BM will not be doing salaried job he would have started his own consulting firm/body shopping .
    - Regarding RE developer as BM, that’s not by design it’s accident for them as those guys are just doing ‘Chance pe Dance ’. Coz look at the builder community whoever is starting new project they just know how to get bookings and after that they are clueless on execution (Not just construction but managing buyers expectation) and over all image of builder community in society.
    Other industries manage that better. Look at RIL they pollute envornement so much but nobody questions them, they will build schools and townships.

    May be I am diverting but somehow still I don’t get it to compare BM and ITG
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  • Originally Posted by realacres
    Very well said space. Here is a brief comparison between a businessman & IT guys:-

    * A businessman (BM) will always think what he is getting out of it in commercial terms, not an IT guy (ITG),

    * BM will have VFM on top of his mind, not ITG,

    * BM will think how the money spend elsewhere (like ITG does by overstretching) in form of investment where the money can be multiplied,

    * BM has 3 goals in mind:- Short, medium & long term, ITG mostly has short term,

    * BM will spend after savings & investments, ITG will save after spending,

    * BM knows the value of money more than ITG as he gives money to get more money, while ITG only gets,

    * BM is more aware about the micro-economic scenario, ITG is more or less knows macro-economic scenario,

    * BM can decide the future about money/investments, not ITG. Eg. A BM can purchase a property where the future development is already known to him & not others; hence creating bigger asset/s for himself,

    * The BM knows people from various sectors, good & bad (read Mafia + Politicians) which gives him more advantage over ITG whose professional crowd is limited mostly to their own field,

    * Last but not the least, in many cases ITG earned more than even their own expectations. I have seen some boys (not men) boasting about how their salaries are fatter than their fathers' despite their father working for more than 25 years! This made them spend more & more. Such is not the situation with BM family, including their kids,

    I won't bring in the subject of B-money here as it is subjective & even some of the well known docs/lawyers too have crores in cash.

    However, you need to understand that at the end of the day, the risks involved in running a business are far greater than working in IT. You need to manage multiple tasks + various types of people.

    At the end of the day, the BM (here RE developers) created a trap & IT guys fell for that. This shows who is more wiser:)

    Comments welcome.


    Jeez ... live the life of an IT professional before making such stereotypical statements. Seems as if most of the comments come straight from a book written during dot-com boom. And please do not confuse a progression in purchasing power with "IT driven mindless consumerism". IT guys are not "duh", people are "duh". Does not matter which profession they chose.
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  • Originally Posted by rishitiwari
    Jeez ... live the life of an IT professional before making such stereotypical statements. Seems as if most of the comments come straight from a book written during dot-com boom. And please do not confuse a progression in purchasing power with "IT driven mindless consumerism". IT guys are not "duh", people are "duh". Does not matter which profession they chose.


    Bang on. Couldn't agree with you more.
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  • Roubini Warning about the coming Stock Market Crash

    Please read the below article.Roubini who predicted the US housing bubble is warning about coming stock market crash.


    ]http://www.moneycontrol.com/news/fii-view/roubini-warnsmega-stock-mkt-crash-39at-some-point39_423067.html
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  • Auto Rickshawallahs used to charge hell lot of money anyway all the time especially in remote areas (and for many of them Magarpatta is still remote)

    It is also due to heavy migrant population who don't know how to DEAL with these high rate quotations :D(like locals do).

    My Telegu colleague newly joined, ended up paying 500 Rs to Rickshaw from station to Fatima Nagar.

    It looks like some people feel IT guys *ENJOY* spending more money, on the contrary many of them are techies having no knowledge of Finance (no offense to those who have it :p) and negotiation skills; end up paying high.

    Y'day I went to MORE mall and I bought something of 99 Rs. Saleman did not give me 1 Rs; I had to ask for it :D He returned me with a look of anger :D
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  • Originally Posted by ash7979
    Hey do u not buy Lee or levis jeans??? Don't say No man

    Wow, what a list man...so do you know how much is the sale of branded cloths in india??? & how much that is due to IT???

    No man you are totally wrong, now a days a college going guy spend more than a IT guy & I am more then 200% sure abt that & I must tell you their parents are not from IT background to give them so much pocket money....India had so much black money accumulated by so many ppls Govt. servent, businessman etc..they spend a lot then a IT guy...

    This is now going too far that for every price rise in india only IT ppls are responsible..this is just jealously nothing else:D:D

    Now Price of sugar is going rocket high towards Rs 50?kg...someday some ppls will say IT ppls are responsible for this, as we have habit something goes wrong in india & our govt always says "iske peeche parosi takato ka hath hai" :D:D

    So, just accept simple fact...price rise in india is mostly due to easy availability of loan & truck load of black money coming out from all section of society...so stop whining...Start enjoying life:)


    1. yes, I did buy Lee in past and do in present, the only thing that is changed is I now get cheapest thing available. Nothings wrong with that right? Also frequency is gone down too. using few jeans for last 2 years now.

    2. Even if the sell because of IT guys is 5%, now you know that braded clothes are nothing but a trap. Then whats the harm in cutting down our own expenses instead of blaming others ? Its their 10 years now. you enjoyed yours. Who is going to get benefited if you/us spend less amount on this ?

    3. Kids have limitations.

    4. IT people were responsible earlier for stupid prices and its the fact. Now they need to realise that you are overtaken by others - so start thinking about your financial management.

    5. Again, what this easy availability of loans funda? Banks aren't stupid to give easy loans. Easy loans are there only because banks are confident that people can afford it, will give money back with interest. Are these easy loans available to a clark working in a bank. No !!

    6. Stop fooling your life, and start managing it right. you aren't the richest anymore. and inflation is going to climb regardless and not going wait for your salary hikes.

    Have FUN.
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  • Originally Posted by Space


    6. Stop fooling your life, and start managing it right. you aren't the richest anymore. and inflation is going to climb regardless and not going wait for your salary hikes.

    Have FUN.


    I have seen most of my colleagues are doing much better Financial planning then the normal Non-IT guy...Why, because we have got better resources to do so...and compulsion as well, as we have to pay tax and if we want to save some tax we have to invest for the in many financial instruments available in the Market today APART from RE....

    And In your other post you have mentioned that IT guy buy RitZ instead of Wagon-R or Santro....Have you seen any IT company's parking ever????

    More than 50% cars would be Only SANTRO, WAGON-R etc & if you see any Doctor's car it wont be lesser than Honda City...this is the Power of B-money man....And what ever progress you are seeing in India 5% of that is due to IT industry...So, I request you please don't show you jealously here with IT guys...There are so many better thing in life other than RE, so enjoy life :):):):)
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  • Originally Posted by ash7979
    I have seen most of my colleagues are doing much better Financial planning then the normal Non-IT guy...Why, because we have got better resources to do so...and compulsion as well, as we have to pay tax and if we want to save some tax we have to invest for the in many financial instruments available in the Market today APART from RE....

    And In your other post you have mentioned that IT guy buy RitZ instead of Wagon-R or Santro....Have you seen any IT company's parking ever????

    More than 50% cars would be Only SANTRO, WAGON-R etc & if you see any Doctor's car it wont be lesser than Honda City...this is the Power of B-money man....And what ever progress you are seeing in India 5% of that is due to IT industry...So, I request you please don't show you jealously here with IT guys...There are so many better thing in life other than RE, so enjoy life :):):):)



    Why would I be jealous when I am an IT guys myself ? rolleyes:
    Have seen the parking lots and known few doctors as well.
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  • Originally Posted by Space
    Why would I be jealous when I am an IT guys myself ?
    Have seen the parking lots and known few doctors as well.



    Still you have so much wrong notions:(:(:(

    I have not seen a Single IT guy,like what you have described in your 1st post on this topic & for your info I am working in this field for more than a decade now

    As, I told you these are the habits of teenagers, which they pick up from their college & maybe for initial 1-2 years they might be spending like that on Credit card off course:p...But eventually they got sense of money later part of their life....

    I think you also belong to that 1-2 years bracket, so just spend some more time in IT industry then you will able to see real picture...

    Somebody here has given example of cafe-coffee day in his company campus closed down in 5-6 months, I also have seen so, many such things happening in IT companies in last 4-5 years...Such ppls come with wrong notions (like yours) that IT ppls spends a lot on these things & in 5-6 months they realize the True fact & then they Bind up their business in IT campuses...You will also realize the same thing in coming years of your life...just have some patience...

    in last 4-5 years everything has rose like anything like sugar, rice etc & I don't think that is due to IT ppls, so its a funda of economy when you will grow other also grow with you (I mean Inflation etc)....
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  • Dont want to get anyone aggitated here... but sometimes BPO employees can be mistaken as S/W employees. please correct me if i am wrong but I think even BPO comes in the umbrella of IT services right.

    Please dont get aggitated but i feel space and ash might be referring to different group of people.

    Now i might be wrong in my opinion but i have seen a lot of BPO youngsters spending their complete salaries without consideration.

    For someone from IT-S/W background they see BPO as seperate group while someone from outside these fileds might see both IT and BPO as a single group. Maybe i am wrong but would be interesting to read about other peoples perspective.

    VK
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  • Why no B-money

    Guys,

    Please don't take it personal, irrespective of the profession. There are dumb people in biz also, who later go bankrupt. The fact however remains that IT guys got more than their counterparts say Civil,auto or mech engg student. The difference in the salaries was huge. I have seen no mech guys bagging a salary of more than 25k/month in campus interview though his academic performance was better than IT guys. The average age of home loans came down mostly due to IT. I have seen no mech/civil guy buying flat in his 20s. I have asked the manager of some leading hotels & was told that youngest crowd amongst professionals visiting the hotel was from IT.

    No doubt there are ITGs who do financial planning well, but the %age is low compared to rest.

    Banks did give loans to ITG definitely not for free, but even they did not anticipate that there would be sudden anti-outsourcing campaign in developed countires within 5 years time, no wonder the bad loans have increased by 25%!!

    ITGs say they pay tax. Well, do they have the option of creating B-money at first place? NO. Then why create false image that you pay tax honestly? I bet that 90% ITGs would not pay complete tax had there been option of taking part salary in cash;).

    At the end of the day, I see no reason why B-money should not exist or one should not make it. After all, if you take the risk, you should be rewarded for the same, right? Personally, I know people who hardly pay tax but spent in lakhs to crores in form of trusts for needy:).

    Who the finance minister is to dictate us how much tax should we pay? The ministers themselves are 'nange'. The world runs by people & not laws. Laws are simple piece of paper which keeps changing. So, bang the IT (income tax) & ED chaps & not bring white, B-money in this.
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  • Originally Posted by veeemkay
    Dont want to get anyone aggitated here... but sometimes BPO employees can be mistaken as S/W employees. please correct me if i am wrong but I think even BPO comes in the umbrella of IT services right.

    Please dont get aggitated but i feel space and ash might be referring to different group of people.

    Now i might be wrong in my opinion but i have seen a lot of BPO youngsters spending their complete salaries without consideration.

    For someone from IT-S/W background they see BPO as seperate group while someone from outside these fileds might see both IT and BPO as a single group. Maybe i am wrong but would be interesting to read about other peoples perspective.

    VK


    This is a great post. I agree to it 200% :) We forget that spending on irrelevent material things in early formative years of life without knowledge is a big concern and the subject here. It happens mainly in BPO industries where youngsters fall prey to material things at a very fast pace. There are sensible people also...they save/invest and stand out.:) But probability of such people is less....can't blame...human tendancy.
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  • Originally Posted by ash7979
    Still you have so much wrong notions:(:(:(

    I have not seen a Single IT guy,like what you have described in your 1st post on this topic & for your info I am working in this field for more than a decade now

    As, I told you these are the habits of teenagers, which they pick up from their college & maybe for initial 1-2 years they might be spending like that on Credit card off course:p...But eventually they got sense of money later part of their life....

    I think you also belong to that 1-2 years bracket, so just spend some more time in IT industry then you will able to see real picture...

    Somebody here has given example of cafe-coffee day in his company campus closed down in 5-6 months, I also have seen so, many such things happening in IT companies in last 4-5 years...Such ppls come with wrong notions (like yours) that IT ppls spends a lot on these things & in 5-6 months they realize the True fact & then they Bind up their business in IT campuses...You will also realize the same thing in coming years of your life...just have some patience...

    in last 4-5 years everything has rose like anything like sugar, rice etc & I don't think that is due to IT ppls, so its a funda of economy when you will grow other also grow with you (I mean Inflation etc)....


    Again same arguments. Guys, yongsters spend money on cloths, s, parties, girls ( or boys ?), but elders spend money on multiple cars, two parkings, lcds, expensive schooling for their children, expensive 3BHKs, funky interiors, costly gyms, just some expensive wastes !!!

    My experience is a mid way, gone through the youger times now soon to be called a old chap.

    And if all IT guys are like you who have well planned their finances, nothing's better than that.

    (By the way, you crossed your 10 years in IT now so all the above things are not really applicable to you. because you have done all the things that I had mentioned but probably own now which car ?)
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  • Originally Posted by Space
    Again same arguments. Guys, yongsters spend money on cloths, s, parties, girls ( or boys ?), but elders spend money on multiple cars, two parkings, lcds, expensive schooling for their children, expensive 3BHKs, gyms, just some expensive wastes !!!

    :D There are some girl/boys who make GF/BF for the same reason too. You know, disposable class:- Use & throw (also known as characterless people in regular language).

    My experience is a mid way, gone through the youger times now soon to be called a old chap.

    Good but it's better to be old chap in young age, hey only in terms of money:):p.

    Anyways, what I have seen is that when parents value money, the kids automatically do. My cousin was gifted Honda Jazz on his birthday recently, yet he drives activa scooter to his college. He also makes sure that he uses bonus cards to reduce call/SMS rates & keeps his recharge limited to INR 350-400/month. So, it's all in blood to large extent though exceptions may be there.
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