After almost 2 years after been relocated from Mumbai, I revisited for an offical work. The city which does not seep and for many its all about achieving dreams. Many settle in Mumbai and become mumbaikar. Earlier people used to go to Mumbai to fullfill their dreams. I remember my relatives when they used to visit us during their vacations, there was a merry making & celebrations in my house. The neighbours would visit us to hear the gossips and know bollywood celebrities. They would directly ask, wheather they had personally meet these stars and how they look. When I was working in Mumbai and back at home during vacations, still neighbours would meet and ask did I meet their favourite celebrate anytime. Apart from the people who stay in Mumbai, nobody understand the life of Mumbai. The trains, the crowd, the fun!
During my travel time in the local, in Mumbai I used to complete reading “The Times Of India” newspaper. It is obvious that we can find a full page advertisement daily on the real estate displayed in every corner of the train aswell as in daily news paper. I found few advertisements on the newspaper on the new constructions that are coming up not in the prime city but at the out skirts of the city. The advertisement was on affordable house, 1 bed room kitchen just for 1 crore. Near the railway stations we find big hoardings of the new constructions advertising the value of affordable housing as Just ONE CRORE.
In Indian real estate market, we see a 1bhk flat costing over a crore rupees without any infrastructure and facilities. Truly we pay amazing high prices for undeveloped infrastructure and facilities. Sunlight, garden are offered as "features" when they are basic necessities. Some have balcony door width shrinking from 4ft to < 3 ft. Apts come up like bunch of match boxes(murgi ke dabde ek ke upper anek).
During my travel time in the local, in Mumbai I used to complete reading “The Times Of India” newspaper. It is obvious that we can find a full page advertisement daily on the real estate displayed in every corner of the train aswell as in daily news paper. I found few advertisements on the newspaper on the new constructions that are coming up not in the prime city but at the out skirts of the city. The advertisement was on affordable house, 1 bed room kitchen just for 1 crore. Near the railway stations we find big hoardings of the new constructions advertising the value of affordable housing as Just ONE CRORE.
In Indian real estate market, we see a 1bhk flat costing over a crore rupees without any infrastructure and facilities. Truly we pay amazing high prices for undeveloped infrastructure and facilities. Sunlight, garden are offered as "features" when they are basic necessities. Some have balcony door width shrinking from 4ft to < 3 ft. Apts come up like bunch of match boxes(murgi ke dabde ek ke upper anek).
Bottom-line
My ex-boss used to say . 15 years back to buy a house, you need to mortgage that house. To buy a house now, you need to mortgage your life
With crore plus costs, EMI's run for over 30 years & average middle class dream of having a roof over head, turns out to be a Damocles’ sword. With already rising inflation and spend on paying credit card bills, expensive car/bike/mobile phone, high donation+ school fees, highest petrol rates, what not!
To add to this - pollution, water crisis, traffic jams and hire/fire policy!
It has become - a+far+able – dream?
The reality is that, the tier two cities have also started advertising on developing one crore for 1 BHK. we are pledging our lives for banks and work for banks indirectly:-).
