Wednesday, May 21, 2008

Indian middle class salaried families turning naxalite?

"How far can Indian real estate market rise?"

Arun blogged "How far can Indian real estate market rise?" on November 4th, 2007. He says "I am amazed at the way Indian real estate market is rising" and Arun tries to find out "What are the reasons for such multifold rise? and how long is this run going to continue?" He also gives his views.

Track in - India Business Blog:

For the last six months many people have shared their views on 'rising real estate prices' in the comments on his blogs. Day by day, you can see, we all are getting more and more angry.

You have expressed your anger on my blogs on PBAP's price hike and Pethkar Projects' Samrajya - Balwantpuram.

I am sure, you will agree with Dave. In his comment on May 16th, Dave says,
"Has anyone thought about socio-economic fallout? Middle class salaried families turning naxalites? When you can’t even buy a decent house when the economy is booming, would you not want social justice?"

Politics of Housing:

I do not find 'Indian middle class salaried families turning naxalite' difficult to believe.

Because housing has always played an important role in democratic politics, in British as well as US politics. Margaret Thacher coined the term "Home Owning Democracy" and came to power. President Bush had launched "Hope Now" for the victims of sub-prime crisis. Singapore boasts about home ownership. Except 45 individuals everybody owns a home in Singapore!

What about us, India? Honorary Secretory of PBAP, Mr. Nitin Nyati of Nyati Group has declared that housing schemes for the lower or middle classes are not feasible without government concessions!

What are you going do? Are you going to give up your right of "owning your home"? Are you happily opting out for 'renting'? or Are you going to fight for the "property ownership right"? Democratically or otherwise? Please, let me know in the comments. "EMAIL THIS" to all your friends and ask them what are they going to do? Subscribe to my blog and do not miss a single news and share your views about Pune real estate market.

2 comments:

  1. The dream of having one’s own roof over one’s head is a universal one. India is no different. Almost all of us – including me – have a dream of owning our own houses. But in the present real estate boom coupled with inflation, how many among us are actually making our dream come true? In my last blog, there were a few comments on how the rich are getting richer and the common man is left out of this phenomenal real estate growth of the country.On a recently conducted online survey carried out by a property site, it was revealed that more than half of those surveyed are looking for a 2-bedroom home within 5-10 lakhs. It will be logical to say this largely reflects the dreams and aspirations of the common man – you, me and other people like us including the service class, businessmen, lawyers, professors, house wives and young professionals.However, going by the present trend, the Rs 5-10 lakh bracket of affordable houses are confined to the extreme suburbs or peripheries of large and small cities. Majority of the sample in the survey are from metros, where a 2 bedroom house is at least three to five times more than the affordable range! Tier II and Tier III cities too are fast catching up – making it even more difficult for the common man.It was on news that the Ministry of Housing and Urban Poverty Alleviation has commissioned the Reserve Bank of India team to find out more about affordable housing. I sincerely hope that they realize the folly of skewed growth and make the necessary correction.For more view- realtydigest.blogspot.com

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  2. A very balanced post by Realty Rider.

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