One thing I should have mentioned in the video: FSI cannot be increased on its own. An increase in FSI would also need extra roads, sweage system, public transportation, etc. to manage the additional population. Something to consider!
I was planning to buy a house in Mumbai and Pune when I was in India, the prices were very high and the property that I scouted didn't feel like it's worth that price. Then I moved to Canada within 1 1/2 years I bought a house for 3cr. It's a 3BHK with 1700 sqft, which also has a nice pond view, a front and back yard, indoor parking and a park near my house(which almost every Canadain locality had). Buying a house here was the best decision of my life.
As someone whose family has been close with real estate industry in mumbai, i can say this video is quite accurate. however it misses major part of economics of encrochment, Bonus FSI especially in mumbai. Builder Nexus of Artificial Inflation, The Stronghold of Empty inventory in many cites and inabilty for people and individual land owners to self develop. The sitaution is soo bad, Prices in Borivali are same as new jersey and more expensive than dubai
Hey PowerTrain, I love your videos too. Just my 2 cents: There is no quality of life in Mumbai at all despite the exorbitant property cost. Even Navi Mumbai is better than main Mumbai, but Nasik is much better than both Mumbai and Navi Mumbai. Similarly Pune and Pimpri Chinchwad are much better than Mumbai. One of my cousin sold his 2 BHK in Santacruz, took a 200% hike in salary, shifted to Bangalore and bought 2 x 3BHK from the Mumbai flat.
PowerTrain, People in New Jersey earn 10-20 times more than what people earn in Borivali but still have to pay extreme prices. I request you to make reality based videos that will bring to light the plight of common man. It is good that you only make videos on the top layer good aspects but you must also try to make videos which show the ground reality for the common man.
I as an interior designer truly understand the pain of this people They spend their life savings on this flats and literally start all over with 0 due to expenses post purchasing
@@vishalgupta7460 So many a times these under constructions flats are sold saying there will be this will have ground, swimming, etc but is not there after completion.. They sell fake dreams.. also they might use good material for base but for completion certain big builders have also used cheap material and you can't do shit once flat is booked. Especially with big builders.. They are big they have lawyers and everything.. as a common person it's very difficult to fight. And many times buildings get delayed by few years.. Remember you will be paying the EMI and if you have exisiting loan or paying rent you are screwed.
Even after purchasing 1.5 BHK for 36 lcs in one of the fastes growing locality of Ahmedabad. ( Adani nearby, Reliance coming soon ) I might not have money for Interior once i get posassion.
Solution: make remote work from home a common practice in India. It will reduce pressure on cities. Further it will put much needed money in small towns and rural areas.
A good solution, at least for jobs where just an internet connection is sufficient. But the HR in every IT company is hell bent on making the employees come to the office.
We are living in such era, where NEWS is doing comedy, and social media is showing the NEWS. Appreciate your efforts man Let's appreciate his efforts 😊
Because of greedy people prices rising as well so if everyone thinks like you than people will all unethical practice to earn money ultimately harming the society
@@rasmiranjanbehera5873 Yup especially land is a good deal for them , even a municipal officer , and cash is the reason why it is happening , the rule should be made that stamp will be paid online
I saw an ad for a 3bhk apartment in Santa Cruz when I had visited Mumbai. A 3bhk apartment including registration and stamp duty costed a whooping 7c. For that amount of money, one could get a 1 ground land in proper Chennai and build an independent house. Not saying that prices in Chennai are any justifiable, but property prices in Mumbai are totally on a league of its own. It is absolutely insane to live in a matchbox building at some 20th floor and paying mind boggling 7c for it.
@@SilenceSerene I second you. Chandigarh is a beautiful city with minimal traffic, wide roads and open green spaces. The weather too is quiet reasonable and the mountains are just 100kms away. A nice place to stay.
@@anujrbx I did not say Mumbai is a bad city. I am just saying that property prices are too high. Your statement is very subjective. A person from say Hyderabad or Ahmedabad can also say that their city is an amalgamation of food, festivals and people. But the objective fact is property prices are really expensive in Mumbai.
buying a house is not possible for the current era of Millenials and genZ..I mean u're most likely gonna live on rent till 3/4th of your work-life and near retirement, you may be ale to buy a house and at that time, you'll not want to live in a metro anymore as it would have sucked out your soul. It was so much simpler for my parents, my parents bought their first house for 2 lakhs (1BHK) in Delhi in '99, 3 years into marriage; sold it for 25 lakhs in 2011 and bought a 2 BHK+ for 50 lakhs again in Delhi along with land in our hometown as well. All this while raising two kids in private schools+colleges. I'm never gonna be that rich, like my parents. it's true that our generation is poorer than our parents
India has Taxes of Sweden Property prices of Singapore Wokeism of USA Freedom of North Korea and most importantly Government and Development level of Somalia
Freedom of North Korea and Gov like Somalia?? Just look at our neighborhood. The Gov is like any other Gov of democrasy. But the Country is to huge to handle. Even a mere 1% oppose a Gov decision. That can be one of the largest protest the world can see..
Nowadays, Corrupt money is going more into agricultural lands than urban properties. In the last 10 years, the price of agricultural land all over India increased by 10-15 times (Not on paper). Whereas Urban property prices have not even risen by 3 to 4 times.
This is a rare instance when Mohak has presented the problem but not the solution (not even an idealistic one), and I don't blame him. Because the problem is so viciously rooted, the solution is not at all simple. Hoping for a better future. Would be great if our housing bubble pops like China.
@@abhishekchakraborty135 This is the one, it's not only the goddamn crab mentality we have but also the greediness beyond measure of anyone with even an iota of power. We'd rather dismantle someone doing good because he didn't cough up bribe money than let them bring prosperity. It's no wonder most people jump ship whenever they can
I'm from chhattisgarh and people here want government job because, there is so much corruption in government jobs here. And the government here doesn't let IT companies come in the state. There is no IT company in raipur so people don't even know about good paying private jobs
This real estate problem affectes us students a lot. Few of my friends are paying 30k-35k per month just on rent in mumbai. Not even including other expenses like food, wifi, electricity, etc. 🙂
For the corruption we can't even blame a single government/party. If India has 1000 regional parties, all 1000 of them are corrupt. As a citizen we have to fight to end the corruption rather than blaming BJP over Congress or Congress over AAP. All of them are equally responsible for that. As a real estate developer's point of view Its equally important as they can also cut cost if they don't have to bribe 60 people for 60 approvals and it'll be easy to do business.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
Like he said. Corruption happens because common people want to buy house at circle rate and builders were also common people initially. If govt comes to take stand on this issue then state vs centre issue will start. And they would deviate.
As you all are knowing that corruption has increased a lot in the country and abroad and is increasing, so have you ever thought that how can one get rid of this corruption?
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
"Hence, Urban India is pretty much ignored" It's not ignored by politicians AT ALL. The corrupt politicians the majority of the urban voters elect to power themselves are the ones collecting bribes from the real estate industry. They keep doing it because they know, come election time, they can win votes based on religion and caste from the majority!
@@TheRishijoesanu the most of them are ignored, I think most of the indian do fear from the tall heights for that reason or simply they fear from the earthquakes
I am still trying to get a house for myself and my family, But I couldn't afford it. This is the truth and nobody will do anything and people like us will have to live forever in rent houses.
Extremely valuable content, an AVERAGE (which is most of INDIA) person would not have ever known these facts. Working hard does not pay off these days anymore to honest people, since honesty is a burden now. Everywhere there are crooks waiting to squeeze an innocent for personal gains. SITTING IN GOVT are the people.
It's a bubble and it has to break , The Normal Indian just wants to run away from the country because its reasonable to love in London than in Mumbai . I have lived in london and found it's not just easier but better ( Financially too ) . It's the Govts restrictions and the finance policies in India that make it a hard to live in place .Thanks for sharing
Look at Hyderabad…. Crazy real estate prices. Moved here from Delhi NCR. Now I have to deal with expensive real estate, dirty roads, completely lawless traffic, multiple beggars at signals, lazy and pathetic labour in general, horrible dilapidated government offices, indifferent people in general. But KT Rama Rao will tell you that Hyderabad is amazing for investment.😢
Delhi-NCR is much better in terms of infrastructure. Cleaner better roads, No beggars on roads, better maintained govt. offices ( though still pathetic but not as horrible as Hyderabad ) better maintained malls and open markets, way better attitude of people towards work in general.
FSI is based on rest of the infrastructure as well like width of the road, water facility, electricity availability, policing, etc. 😅 You can't just create big big building and be then stuck in traffic jams like Bangalore, Mumbai, Gurgaon, Noida etc.
True that.... And i also like to add what he said more fsi means more people to come to cities and reduce the overall rate... But he doesn't know the infrastructure to support that is negligent.... And with limited resource like water problem to overcome that infrastructure need more investment which ultimately going to strike up the taxes are people ready for that.... Also infrastructure needs time unless we are ready to invest tons of money on taxes which ultimately going to make a hole in your pocket so for that income also needs to be increase per person. I think this video was made in short time without in depth knowledge, just to get the scaler ad.....
@@shrikantchaudhari4252 there could be various policies to curb those difficulties. Owning a private vehicle is very costly in Singapore; so just like that we could promote public transport and improve it in major cities. FSI needs to be increased. The only major problem I see is drainage system and water availability. That means the cities need to be redesigned. Gov't needs to intervene and demolish illegal lands and homes. There are 100+ smart cities in India and proper planning is there but developing very slow. Population needs to be distributed there and new methods and new policies are needed there just like 1st world countries. The video was made perfectly okay, he's not a builder.
Your video is partially correct with respect to only Black Money. I have done a lot of research on dynamics of property ( home ) prices. The main reasons behind high and unaffordable price are 1. Black Money - which you already described. 2. Income Tax benefit - In congress rule, the income tax benefit was huge but after Modi Govt came in power, they removed benefit and now restricted to 2.5 lakh only. 3. Home loan - Why a low interest loan should be given to people buying a home for investment ? Solutions to each problem 1. Increase the circle rate to above the prevailing price so that black money transactions get curbed. And Govt revenues also can increase very much. 2. Income tax benefit to only home buyer who is going to stay in that house. Others should not be given any income tax benefit. 3. Home loan should be given at lower rate to only those who buys home for using it. For investors, home loan rate should be high and same as interest rate at which businesses get loan. 4. Income tax on empty houses assuming rental income ( higher than prevailing rental in that area) Without increasing FSI, property prices can easily drop by 50% if above suggestions implemented.
Excellent video! One major problem is the majority of companies opening their offices in prime locations or the metro cities in India. This insanely drives up the land rates as well as the rent prices and all of this heavily burdens the infra of that city. It would be awesome if companies and the government could work together to pave a way for office openings in tier 3 cities as well.
When registering a private limited company (official, online, all white money), MCA Government officers still asks for black money to get name reserved. And Same with buying farm land, 1% of total amount goes to Government registry officer by black money. It's much better to do business in USA, rather than India. Trust me.
I was searching for rooms in Bangalore and your video is so on point. They leech money from hardworking individuals. Specially there are some societies which only rent through brokers and brokers charge exorbitant brokerage for even shitty apartments.
The growth of Noida and Greater Noida halted mainly since builders have to pay 40% ''commission'' to authorities and officials. They have to build, sell the apartments and make profit in the remaining 60% - That's why most of the builders and consumers are suffering in NCR.
I think In our country there is a need for more cities(tech hubs) like Bangalore, Gurugram If we compare to USA there are San Francisco, New York, Seattle, DC, Detroit, Chicago, Dallas, Vegas, LA, etc that provide more employment opportunities And in India we only have Bangalore, Delhi and Gurugram, Hyderabad and Mumbai And Our Population is larger than every country except china
7:10 and people still say demonetisation was a great initiative by PM Modi, the only victims of that scheme were we middle class people, who almost went broke Imagine leaving every important work and standing in a long queue for days, weeks or even longer and still not able to exchange that piece of note you earned And at the same time, the capitalists, the billionaires didn't because they might have changed their currency notes already before the announcement of demonetisation, as the ruling party always has been too loyal to a few dozen richest sections of society. And the problem of black money is still there, so will they now implement a demonetisation 2.0 ? And I remember many of the BJP politicians, supporters and even news reporters like Sudhir Chaudhary claiming that the new 2000 rupee note contains a 'chip', which would prevent even the minute corruption.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
Please make more videos on this topic... Excellent topic.. This real estate is the most corrupt area. Every person has some properties stuck in court cases for 10-20 years... Hard earn money is looted from common man..
If FSI gets increased in Indian cities, it leads to bigger problems due to bad level of infrastructure. If you can’t afford houses in cities, live at outskirts and travel to work. You can’t overpopulate and destroy ecological balance.
Mere ek dost ne Canada men ghar liya India se saste me. Now add the fact that incomes in Canada are several times higher, and loans cheaper. Now imagine how difficult it is to buy a house in India.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I am a Canadian who has traveled to India and Pakistan both, and I can say this is where Pakistan wins hands down against India. Housing is so much better in Pakistan, then in India. Most of the Indian houses I saw were very small and infrastructure of the houses was so bad, it felt like houses in India are 100 years older then in Pakistan. I traveled to Islamabad, Lahore and Karachi in Pakistan, the houses there are so beautiful and with western/Mediterranean designs and most of them were so new. In India I never saw such houses, most of them were so old, small and crumbling infrastructure, yet they were so expensive. The big huge mansions/villas in Pakistan are much more affordable. It seems there is huge corruption in India in the Real Estate Market, Indians are being cheated in buying these sh_tty houses. Please travel outside of India and see what you can get for the same amount of money you pay for sh_tty houses in India
@@hardyzme other than avoiding sales tax & registration, this will create further problem with tax people later on. if you sell it, then you have to pay capital gains tax on the official gain on paper, not actual gain on housing price, which will much greater as your original buying price is officially very low, and you will not sale it based on that..as usual people perpetuate the black money route to hide the gain. Therein lies the problem..not only builders but even resell flat owners ask for black money.
I really like your explanation but you forgot to mention the RERA ( Real Estate Regulation Act), which came into force in year 2016 to regulate this sector also there is a new feature added in income tax site that if someone withdrawal huge amount from bank than it will be shown in your ITR as information....these are some of the efforts which government introduced to reduce black money.
Very impressive study , myself working in real estate , it's a harsh truth but our govt is so corrupt that prices are increasing every quarter of the yr , btw great video I liked it .👍
Starting from salaries, to corporate culture, to renting/buying property, to basic cost of living, everything seems so bleak and hopeless for young Indian adults. Where is the Joy in Life?
FSI is not the only thing responsible..Major problem with metropolitan cities is actually non expansion in real sense..statistic confirm this, like Mumbai metropolitan area is meagre 2000sqkm whereas for New York it is 20000sqkm, tokiyo : 8000sqkm, shanghai : 6300sqkm..
One big reason for real estate being unaffordable is speculation, that is happening only because property rights are forever. If government makes it max 30-50 years just like apartments. All property will be brought back to market and highest bidder gets the property, people stop buying just for "appreciation". Plain speculation is both wasting money and making real estate unaffordable.
8:38 Correction: If the 'legal' price is 1Cr then due to corruption the 'illegal' price becomes 2Cr... Because the data says that if corruption were to be resolved the price would drop by 50% implying that 50% of 'illegal' is equal to 'legal' price... Therefore 'illegal' price is actually double the 'legal' price (since 50%=50/100=1/2, taking which to the other side makes it 2)... Small error but great video... 👍
My father bought a 80 gj plot 7 year ago in jaipur and the price was 7 lakh at that time,and the plot was not even in main jaipur.but in legal papers the price was less then 1lakh..
I live here in canda brampton recently my uncle bought bungalow of 3 cr which was quiet big a space of 4600 sq ft in outskirts of city and a good enviornment with less traffic and congestion.. my respect to mubaikers increased after seing their houses..
now i realised why mumbaiker nikhil wanted to shift to canada.
I have lived in Bangalore for 8 yrs. I have always loved the city. I got married and am planning to move out of my shared appartment and the increased rent prices have just hit us. This so unreasonable. Nothing new has happened in Bangalore. Our salaries are the same. Few landlords started and everyone has followed. We spoke to a owner who is charging the older rent of 26k from current tenants for 2 bhk but asked us to pay 40 k citing "rent badh gaya hai Bangalore me". This was a city i loved so much!!!! I don't even know if or where can we complain
I think you missed most important points, like How Indian property is inflated compared to other country. Buying power of Indian House on the basis of Average salary . I don't want to waste my whole life working just to buy a shitty flat in Mumbai or Delhi & live in unsafe place with corruption everywhere. This is the main reason why we want to leave India.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
The problem with removing corrpution now is that the people who have already bought a property will face heavy losses. It is a paradoxical situation now.
Since thses are not liquid assets they will face losses on paper so they should wait till the price go back up and digest the minimal losses. After all one can't go much longer destroying younger generation's lives forever, someday sooner or later this artificial inflation should deflate and better be soon since it will be win-win for all, the more time it takes the greater losses investors will face. Moral paradox for sure.
0.25 Dadar is center of Mumbai , its residential & commercial location. in 70's & 80's Bollywood celebrities can't afford it to buy property in Mumbai city. so they shifted to Mumbai Western Suburbs Bandra.
When remote work started... even the owners of the houses in the remote places started increasing the prices drastically.... it's about getting chance to loot the money... every human is an opportunist....
My family shifted to the USA in June 2011. The only way to have a home was to sell our ancestral land and buy a house, or to go to the USA and grow ourselves. My family chose growth. However, my mother couldn't speak English, so it was a big problem for her. She always remained isolated and didn't talk much to people. Americans were very rude towards her. She worked double shifts to send me to a good college. She hid her pain and took a loan from the bank to gift me a Microsoft laptop on my birthday. I am sorry, I can't express my pain. So we thought we would shift, and from there I completed my high school and college. Within a year after completing college, I was able to afford a home and manage my expenses. So itna asaan bhi nahi hota America me Ghar Lena. The same story is everywhere. Thank you for likes
You can't just increase floors per land. With existing limit itself we are not able to provide things like water . There is huge water crisis in cities like Bangalore. So, first you need to think of plans for such issues before increasing floors per Sq feet...
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I don't know what's the actual reason behind sky rocketing property prices in Mumbai, but surely saying our HYDERABAD DECCAN is the best place for building homes, 10k worker can also live here. Proud to be HYDERABADI.
FSI value depends on many factors based on the bylaws of the city's governing authority. It also depends on the size of the plot, the location, width of the adjacent road, availability of power, sewer lines, water, earthquake zone type and also the type of building - commercial, residential, worship, institutional, etc. If fsi is not regualted well then builders will make tall buildings in small plot and that is very dangerous. In India people leave no space for road. When such tall structure falls down it will be disastrous.
Even if FSI is a thing, several buildings both commercial and on personal property violate it. You'll see a ton of housing areas that are having 4-5 floors (and being rented out) while that plot is not being approved for such activities. Speaking from what I've seen in Bengaluru for the past 25 years.
Very nice points raised bro Corruption by local property dealers should also be included , they increase price and don’t let anyone sell property below that prices … they create hype in market pseudo hype .
This is something everyone is aware of who has tried entering the real estate market. It's horrible in India and no one will want to solve it as politicians get majority of their money through this source
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
For 80 lac you can get a 7300 sqft mini farmhouse type land in outskirts of Gurgaon. And the registration cost is also just 2.5 lac.. Cost of living is the one reason why I sometimes feel reluctant to go out of Gurgaon or Faridabad. They have all the facilities like big hospitals, schools, sports a academy etc, and if you just go 15 km outside the city limits, you can own a sizable chunk of land in a Village where you can legally construct a house.
I don’t know what you’re talking about. Circle rate is mostly very high wherever we have seen flats. Also most builders take only white. In fact recently my uncle sold a property in Goregaon East and it had barely appreciated in 11 years. He sold the flat for only 70lacs
Good to see my area R.T. Nagar, Bangalore in the video. I stay in an apartment on rent. Don't have any plans to buy any house because of highliy inflated rates.
A couple of other factor's i feel for these jacked up prices: * Builder's borrow money at high interest rate and pass on the burden to buyers. * "Investment" from NRI's in Indian Real estate sector.
Boss. Check your facts. The FSI permissible in Mumbai is 6.7. Yes, purchasing FSI above base FSI (range b/w 1x - 1.3x) is expensive. But things will get rationalised once there is urban deterioration to keep up with the demand.
I really request you to cover the topic of DBRAITS affiliation issue, mainly because it's issue where the whole adminstration could be held accountable and the other reason being no other mainstream media is covering the issue(It shows how secluded A&N island remains) covering this issue will be a great support towards those students whose futures are ascertain because of a Greedy Principal and a corrupt Administration. Edit: please check the news report from Nicobar times on 28/09/2022 protest and what went wrong. You'll understand the gravity of the situation.
Just an Update: 2bhk in Ulwe are currently being sold at 1.5cr and 3bhk for 2cr. (Forget lowering instead prices jumped by almost 50% while you were making the video 😂) Anyways Keep up the good work Bro.
Another thing which I think would help solve the issue is if people did not have to migrate to metros for jobs. I have seen in Germany for example that even a small city e.g. Hannover has a pretty decent sized industry which translates to lot of jobs for the locals. The tendency of our MNCs to set up shop only in big cities is also something which encourages migration to the big cities. Probably this is due to connectivity issues in small towns.
IN european countries they have concept of University Towns, so instead of building a new university in a large city, they select a relatively small town and bulild Univeristy there. Thousands of students go there instead of adding into the big city, and the town also benefits from growth.
1. Ahmedabad has FSI of 5.4 2. Even cities with FSI of 10 or above, have not solved housing problem, housing ia still very expensive in NY, Singapore even for their income levels
We don't have to pay gst on purchase of flat. We have to pay stamp duty tax as per the valuation of stamp duty authority given in sec 50C of income tax act 1961.
I know this , in Patna the new real estate hubs are Jalalpur city , Gola road and people spend their black money to either buy flats or constructing luxury societies
I regularly watch your videos about Indian issues and believe me the issues are literally the same here in Pakistan, cannot even feel the difference if you remove the city names.
Homes being so costly, but still flats are sold. I don't understand who are the buyers and what they are doing to earn a living. I know that there are a lot of vacant unsold flats inventory also but still builders are constructing new buildings. Don't understand the mathematics behind this.
Being in tier 2 city ... I always wonder when i go to metropolitans that who stays at top most floors of huge skyscrapers some of which being at outskirts and away from the city .. that too flats being so costly.. i wonder
log gav ke khet bech kar metropolitan city me flat le rahe hai , gav valo koi ladki deta nahi aur wahi ladka khet bech kar city me flat le to ladki mil jati hai
I guessed 1 crore when he said at the start to guess the price... 😂 I wasn't surprised when he said 2 crores because it's Mumbai... But damn... 2 crores is a hell lot of money !!
Bura toh is baat ka lagta hai ki Indian Government ab apni image pure rakhne ke liye aesi achi videos hataye jaa rhi hai, GetsetflyFact aur Dhruv Rathee k videos hatayi gayi hai
Having a real estate business, I cannot agree more!! Property rates are rising very fast & many people prefer to invest their legitimate & illegitimate wealth into it. Volatility is much less than stocks.
Bhai Mumbai me to FSI bohot jyada hai. Sab skyscrapers hi to ban rahe hai. Real reason is builder-politician nexus. Builder are more than happy to hold onto excess flats but will never sell at low price. Kuch bhi karke bhav upar hi rakhenge.
Rental yields in India are one of the lowest in the world and if you want to rent, the cost in PPP is one of the lowest in the world no matter what city, so it's better for you to rent property and put the rest of the money into your NPF or PF account Also, you won't be able to buy a house in any major cities around the world, a house in London can cost you anywhere from 10 million GBP to 60 million GBP while the median wage is 1600 GBP per month after taxes Edit: the FSI that you have mentioned is inaccurate, FSI won't change anything, the higher the FSI, the worse the city design, the solution is nationalising real estate development and developing khrushchevkas or developing communal apartments like in 1920s USSR, or Georgism can be implemented and an authority like the Singaporean HDB can be implemented. Also, the 'corruption' that you have mentioned is not Corruption at all, it is bureaucracy and it's always going to be the case in a Capitalist country, you have to spend many years and a lot of money to get a building permit, its the same everywhere, the reason Singapore can build apartments fast is because the Singaporean Government owns all the land in Singapore and leases it out on 40-year or 99-year leases
If anyone wonders why there's no change happening- Here's an example of genius people who stop the change midway and make peace with whatever shitty living conditions they're being provided because "It's the same everywhere and that's how it works".
You could have added how intentional infrastructure shortage in cities also is to increase the cost of developed areas/ flats. How big builders are pooling huge black money and creating artificial shortage, and how they use huge marketing budgets to take people for a ride ..
Bhai Mumbai me ek padosi ke relative ne ek flat kia h 85 lacs ka 19 floor par 4 sal phle or idhar meerut me itna me to ek kothi ban jaye .( Metro ki wajah se price increase ho gaye h to ab thoda muskil h )
6:28 if someone who have 1 cr rupees & want buy home to voo 20% tax kuy de … uska bacha to government school me nahi jane vala.. usko to electricity bill me discount nahi milega … us tax se use jayda garbi ka fayda hoga jo 1 cr ka ghar hi nahi le sakate… That’s why india equal taxation hona chahiye
One thing I should have mentioned in the video: FSI cannot be increased on its own. An increase in FSI would also need extra roads, sweage system, public transportation, etc. to manage the additional population. Something to consider!
yes
So more Vikas needed
Satisfied sir and thanks for giving importance and reply for my comment.
In India, every city has its own FSI norm, ranging from 1.5 to 3.75, with Hyderabad being the only city in the country with unlimited FSI
the pressure on the infratstructure is already there anyways, but yes need to be formalized so people can buy their own home at much lower cost
I was planning to buy a house in Mumbai and Pune when I was in India, the prices were very high and the property that I scouted didn't feel like it's worth that price. Then I moved to Canada within 1 1/2 years I bought a house for 3cr. It's a 3BHK with 1700 sqft, which also has a nice pond view, a front and back yard, indoor parking and a park near my house(which almost every Canadain locality had). Buying a house here was the best decision of my life.
Then ,I think i have to move there also.😀
@@anuraganand7629 he had 3 crores
this is why people mobe outside india
@@kartickchandradas5095 that's not a reason
Ok...
As someone whose family has been close with real estate industry in mumbai, i can say this video is quite accurate. however it misses major part of economics of encrochment, Bonus FSI especially in mumbai. Builder Nexus of Artificial Inflation, The Stronghold of Empty inventory in many cites and inabilty for people and individual land owners to self develop. The sitaution is soo bad, Prices in Borivali are same as new jersey and more expensive than dubai
Hey PowerTrain, I love your videos too.
Just my 2 cents: There is no quality of life in Mumbai at all despite the exorbitant property cost. Even Navi Mumbai is better than main Mumbai, but Nasik is much better than both Mumbai and Navi Mumbai.
Similarly Pune and Pimpri Chinchwad are much better than Mumbai.
One of my cousin sold his 2 BHK in Santacruz, took a 200% hike in salary, shifted to Bangalore and bought 2 x 3BHK from the Mumbai flat.
@@LifeGeneralist yes it costed me fortune to own 1 bhk in Santacruz
@askPT Bro.. You should address issue in your new video
PowerTrain, People in New Jersey earn 10-20 times more than what people earn in Borivali but still have to pay extreme prices. I request you to make reality based videos that will bring to light the plight of common man.
It is good that you only make videos on the top layer good aspects but you must also try to make videos which show the ground reality for the common man.
Can you elaborate
I as an interior designer truly understand the pain of this people
They spend their life savings on this flats and literally start all over with 0 due to expenses post purchasing
THIS MAN NEVER DISAPPOINT TO MAKE US LAUGH
I think buying under-construction flat are good you can examine the quality of material used.
@@vishalgupta7460 So many a times these under constructions flats are sold saying there will be this will have ground, swimming, etc but is not there after completion..
They sell fake dreams.. also they might use good material for base but for completion certain big builders have also used cheap material and you can't do shit once flat is booked.
Especially with big builders..
They are big they have lawyers and everything.. as a common person it's very difficult to fight.
And many times buildings get delayed by few years..
Remember you will be paying the EMI and if you have exisiting loan or paying rent you are screwed.
@@sanketnegi1 yes i totally aggre with you.
Even after purchasing 1.5 BHK for 36 lcs in one of the fastes growing locality of Ahmedabad. ( Adani nearby, Reliance coming soon ) I might not have money for Interior once i get posassion.
Solution: make remote work from home a common practice in India. It will reduce pressure on cities. Further it will put much needed money in small towns and rural areas.
A good solution, at least for jobs where just an internet connection is sufficient. But the HR in every IT company is hell bent on making the employees come to the office.
Our political parties, government officials, registrar offices will not like this idea as they will not be able to fill in their pockets.
Rents in India are so cheap, I don't get the point of buying a house in India
@@mohit4902 so cheap? 💀 A decent 2BHK flat in Bangalore costs 35/40k per month? What cheap 😂
this is the only solution for India
We are living in such era, where NEWS is doing comedy, and social media is showing the NEWS.
Appreciate your efforts man
Let's appreciate his efforts 😊
News bikchuka cha janta garib horahi har din
😂😂
True bro
Rents in India are so cheap, I don't get the point of buying a house in India
@@mohit4902uncertainty and you want to settle in life rented house isn't a good option
And people say money can't buy happiness
While it can give you home
Because of greedy people prices rising as well so if everyone thinks like you than people will all unethical practice to earn money ultimately harming the society
@@rasmiranjanbehera5873 But not every one is foolish ethical person or unethical scum
@@rasmiranjanbehera5873 Yup especially land is a good deal for them , even a municipal officer , and cash is the reason why it is happening , the rule should be made that stamp will be paid online
haan bhai tu akela raho ghar meh bohot piason ke saath aur khareeed lo happiness ko bhi 👍
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I saw an ad for a 3bhk apartment in Santa Cruz when I had visited Mumbai. A 3bhk apartment including registration and stamp duty costed a whooping 7c. For that amount of money, one could get a 1 ground land in proper Chennai and build an independent house. Not saying that prices in Chennai are any justifiable, but property prices in Mumbai are totally on a league of its own. It is absolutely insane to live in a matchbox building at some 20th floor and paying mind boggling 7c for it.
Mumbai is just like an expensive village, the only city worth living in India is Chandigarh
@@SilenceSerene I second you. Chandigarh is a beautiful city with minimal traffic, wide roads and open green spaces. The weather too is quiet reasonable and the mountains are just 100kms away. A nice place to stay.
@@SilenceSerene Goa >>> All other States of India
Kolkata and suburbs my home.
@@anujrbx I did not say Mumbai is a bad city. I am just saying that property prices are too high. Your statement is very subjective. A person from say Hyderabad or Ahmedabad can also say that their city is an amalgamation of food, festivals and people. But the objective fact is property prices are really expensive in Mumbai.
buying a house is not possible for the current era of Millenials and genZ..I mean u're most likely gonna live on rent till 3/4th of your work-life and near retirement, you may be ale to buy a house and at that time, you'll not want to live in a metro anymore as it would have sucked out your soul.
It was so much simpler for my parents, my parents bought their first house for 2 lakhs (1BHK) in Delhi in '99, 3 years into marriage; sold it for 25 lakhs in 2011 and bought a 2 BHK+ for 50 lakhs again in Delhi along with land in our hometown as well. All this while raising two kids in private schools+colleges. I'm never gonna be that rich, like my parents.
it's true that our generation is poorer than our parents
In India the rich are getting richer and the poor are getting poorer
I feel you. My dad will retire with 2 pensions whereas I'm depressed for my future.
Sahi bola , Jo hamare parents ne bana diya ab to hum logo ki himmat bhi nhi aur saath me itna kama bhi liye to kharche Kam nhi hote
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@@ShubhamMishrabro 2 pensions holy shit
How 🤯🙏
I currently live in Singapore but if you created MOHAK TOWN, I would move back to India right now!!!
😂😂
India has
Taxes of Sweden
Property prices of Singapore
Wokeism of USA
Freedom of North Korea
and most importantly
Government and Development level of Somalia
Exactly 👍
True af
Salary of third world country also 🤣
Freedom of North Korea and Gov like Somalia??
Just look at our neighborhood. The Gov is like any other Gov of democrasy. But the Country is to huge to handle. Even a mere 1% oppose a Gov decision. That can be one of the largest protest the world can see..
On top of that we have socialist and Communist people. What else do we need it to be worse?
Nowadays, Corrupt money is going more into agricultural lands than urban properties. In the last 10 years, the price of agricultural land all over India increased by 10-15 times (Not on paper). Whereas Urban property prices have not even risen by 3 to 4 times.
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Urban property prices not risen 3 to 4 times in last 10 years?
Starting price 25k vs starting price 10 laks
But very few can afford agri land as there's no loan facility
Bruh where you getting your data. My rental property I bought in 06 was 7.5L in a good location in western Maharashtra it swooped to 1.2cr by 2018
Any Mumbaikar knows all these things very well. That is why owning a house in Mumbai is like a lifetime achievement.
Who cares 😴 Mumbai is polluted and polluted
7llTHIS MAN NEVER DISAPPOINT TO MAKE US LAUGH
And going under water in 10-15 years, move out bro
Pune>>>Mumbai
@@pawannfcb
Absolutely Magarpatta and Nanded City alone >>> Mumbai
This is a rare instance when Mohak has presented the problem but not the solution (not even an idealistic one), and I don't blame him. Because the problem is so viciously rooted, the solution is not at all simple. Hoping for a better future. Would be great if our housing bubble pops like China.
Still won't eradicate corruption..
It's in the mindset
@@abhishekchakraborty135 This is the one, it's not only the goddamn crab mentality we have but also the greediness beyond measure of anyone with even an iota of power. We'd rather dismantle someone doing good because he didn't cough up bribe money than let them bring prosperity.
It's no wonder most people jump ship whenever they can
Not gonna pop like other countries. The demand is very huge so the price will not even move.
@@thespectacularrevenant6642what's the solution please tell
I'm from chhattisgarh and people here want government job because, there is so much corruption in government jobs here. And the government here doesn't let IT companies come in the state. There is no IT company in raipur so people don't even know about good paying private jobs
This real estate problem affectes us students a lot. Few of my friends are paying 30k-35k per month just on rent in mumbai. Not even including other expenses like food, wifi, electricity, etc. 🙂
For the corruption we can't even blame a single government/party. If India has 1000 regional parties, all 1000 of them are corrupt. As a citizen we have to fight to end the corruption rather than blaming BJP over Congress or Congress over AAP. All of them are equally responsible for that. As a real estate developer's point of view Its equally important as they can also cut cost if they don't have to bribe 60 people for 60 approvals and it'll be easy to do business.
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
People themselves do this leave party alone.
Like he said. Corruption happens because common people want to buy house at circle rate and builders were also common people initially. If govt comes to take stand on this issue then state vs centre issue will start. And they would deviate.
@@vikashchauhan2267 Corruption happens because of FSI regulations
As you all are knowing that corruption has increased a lot in the country and abroad and is increasing, so have you ever thought that how can one get rid of this corruption?
Urban India doesn’t get priority for the government. Majority of voters stay in Rural India. Hence, Urban India is pretty much ignored 😢
Yes, nobody focuses on Urban area
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
"Hence, Urban India is pretty much ignored"
It's not ignored by politicians AT ALL. The corrupt politicians the majority of the urban voters elect to power themselves are the ones collecting bribes from the real estate industry. They keep doing it because they know, come election time, they can win votes based on religion and caste from the majority!
@@TheRishijoesanu the most of them are ignored, I think most of the indian do fear from the tall heights for that reason or simply they fear from the earthquakes
Yes , aache din aa gye
I am still trying to get a house for myself and my family,
But I couldn't afford it. This is the truth and nobody will do anything and people like us will have to live forever in rent houses.
That's why don't marry
toh bhai foreign shift hoja .. u can live a quality life their.
True. And jab tak koi kisi Ghar ke liye 40-50 lakh kama bhi le tab tak us ghar ka price 1 crore tak pahuch jayega!
Own house is luxury now days
Tier 2,3 cities are best to get properties!!
Extremely valuable content, an AVERAGE (which is most of INDIA) person would not have ever known these facts. Working hard does not pay off these days anymore to honest people, since honesty is a burden now. Everywhere there are crooks waiting to squeeze an innocent for personal gains. SITTING IN GOVT are the people.
It's a bubble and it has to break , The Normal Indian just wants to run away from the country because its reasonable to love in London than in Mumbai . I have lived in london and found it's not just easier but better ( Financially too ) . It's the Govts restrictions and the finance policies in India that make it a hard to live in place .Thanks for sharing
not just uk, but a third world country like indonesia/vietnam is also better.
Look at Hyderabad…. Crazy real estate prices. Moved here from Delhi NCR. Now I have to deal with expensive real estate, dirty roads, completely lawless traffic, multiple beggars at signals, lazy and pathetic labour in general, horrible dilapidated government offices, indifferent people in general. But KT Rama Rao will tell you that Hyderabad is amazing for investment.😢
Gurgaon mein bhi kam nahi hai prices.
Delhi-NCR is much better in terms of infrastructure. Cleaner better roads, No beggars on roads, better maintained govt. offices ( though still pathetic but not as horrible as Hyderabad ) better maintained malls and open markets, way better attitude of people towards work in general.
Aap Telugu ho ?
Ur identity?
Hyderabad houses are as costly as in Bangalore along with dirtiest roads and traffic jam.
Government is just bluffing about better infrastructure
FSI is based on rest of the infrastructure as well like width of the road, water facility, electricity availability, policing, etc. 😅 You can't just create big big building and be then stuck in traffic jams like Bangalore, Mumbai, Gurgaon, Noida etc.
include pune also.... horrible traffic....
True that.... And i also like to add what he said more fsi means more people to come to cities and reduce the overall rate... But he doesn't know the infrastructure to support that is negligent.... And with limited resource like water problem to overcome that infrastructure need more investment which ultimately going to strike up the taxes are people ready for that.... Also infrastructure needs time unless we are ready to invest tons of money on taxes which ultimately going to make a hole in your pocket so for that income also needs to be increase per person. I think this video was made in short time without in depth knowledge, just to get the scaler ad.....
@@shrikantchaudhari4252 there could be various policies to curb those difficulties. Owning a private vehicle is very costly in Singapore; so just like that we could promote public transport and improve it in major cities. FSI needs to be increased. The only major problem I see is drainage system and water availability. That means the cities need to be redesigned. Gov't needs to intervene and demolish illegal lands and homes. There are 100+ smart cities in India and proper planning is there but developing very slow. Population needs to be distributed there and new methods and new policies are needed there just like 1st world countries. The video was made perfectly okay, he's not a builder.
Rents in India are so cheap, I don't get the point of buying a house in India
Your video is partially correct with respect to only Black Money.
I have done a lot of research on dynamics of property ( home ) prices.
The main reasons behind high and unaffordable price are
1. Black Money - which you already described.
2. Income Tax benefit - In congress rule, the income tax benefit was huge but after Modi Govt came in power, they removed benefit and now restricted to 2.5 lakh only.
3. Home loan - Why a low interest loan should be given to people buying a home for investment ?
Solutions to each problem
1. Increase the circle rate to above the prevailing price so that black money transactions get curbed. And Govt revenues also can increase very much.
2. Income tax benefit to only home buyer who is going to stay in that house. Others should not be given any income tax benefit.
3. Home loan should be given at lower rate to only those who buys home for using it.
For investors, home loan rate should be high and same as interest rate at which businesses get loan.
4. Income tax on empty houses assuming rental income ( higher than prevailing rental in that area)
Without increasing FSI, property prices can easily drop by 50% if above suggestions implemented.
What do u do?
@@interiorblanket1551 Business
@@vipuljasani4315 real estate?
@@interiorblanket1551 what do you want to know ?
@@vipuljasani4315 I want to know how we can get research data? Where we can read everything about market?
Excellent video! One major problem is the majority of companies opening their offices in prime locations or the metro cities in India. This insanely drives up the land rates as well as the rent prices and all of this heavily burdens the infra of that city. It would be awesome if companies and the government could work together to pave a way for office openings in tier 3 cities as well.
When registering a private limited company (official, online, all white money), MCA Government officers still asks for black money to get name reserved.
And Same with buying farm land, 1% of total amount goes to Government registry officer by black money.
It's much better to do business in USA, rather than India. Trust me.
I was searching for rooms in Bangalore and your video is so on point. They leech money from hardworking individuals. Specially there are some societies which only rent through brokers and brokers charge exorbitant brokerage for even shitty apartments.
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Not some I think every owner rent only through Brokers....
in bangalore there is one idioti rule of demanding 10x rent as a security fund till tenant vacate it.
Yes damn I'm going through that hell. Bangalore is a hell hole.
We seriously need the government to take this up just like how they talked about the baiju's issue
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Rents in India are so cheap, I don't get the point of buying a house in India
The growth of Noida and Greater Noida halted mainly since builders have to pay 40% ''commission'' to authorities and officials. They have to build, sell the apartments and make profit in the remaining 60% - That's why most of the builders and consumers are suffering in NCR.
I think In our country there is a need for more cities(tech hubs) like Bangalore, Gurugram
If we compare to USA there are San Francisco, New York, Seattle, DC, Detroit, Chicago, Dallas, Vegas, LA, etc that provide more employment opportunities
And in India we only have Bangalore, Delhi and Gurugram, Hyderabad and Mumbai
And Our Population is larger than every country except china
DC isn't a tech city
@@shivanshsinghchauhan2623 wasn't saying that
DC provides a lot of jobs
Detroit is also not a tech hub
But it provides a lot job opportunities
@@mohammedamaan5397 u used tech hub
@@mohammedamaan5397 DC provides jobs. Nope
Correct. China has lot more new cities. We must follow their way.
You changed my perception towards upper middle class/ rich families. The way you connect to common man problem is phenomenal. Cheers mohak Bhai ❤️
Glad you mentioned ULWE... Faltu ke prices hai jabki no water, electricity... no nearby schools, markets etc.
7:10 and people still say demonetisation was a great initiative by PM Modi, the only victims of that scheme were we middle class people, who almost went broke
Imagine leaving every important work and standing in a long queue for days, weeks or even longer and still not able to exchange that piece of note you earned
And at the same time, the capitalists, the billionaires didn't because they might have changed their currency notes already before the announcement of demonetisation, as the ruling party always has been too loyal to a few dozen richest sections of society. And the problem of black money is still there, so will they now implement a demonetisation 2.0 ?
And I remember many of the BJP politicians, supporters and even news reporters like Sudhir Chaudhary claiming that the new 2000 rupee note contains a 'chip', which would prevent even the minute corruption.
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Did you watch the video?
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
Demonetization was a grand success, so was GST
@@LifeGeneralist Sarcasm?
Please make more videos on this topic... Excellent topic.. This real estate is the most corrupt area. Every person has some properties stuck in court cases for 10-20 years... Hard earn money is looted from common man..
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If FSI gets increased in Indian cities, it leads to bigger problems due to bad level of infrastructure. If you can’t afford houses in cities, live at outskirts and travel to work. You can’t overpopulate and destroy ecological balance.
Mere ek dost ne Canada men ghar liya India se saste me. Now add the fact that incomes in Canada are several times higher, and loans cheaper. Now imagine how difficult it is to buy a house in India.
Agreed, I bough the house out of India as well much easier & quicker plus got really good appreciation by the time handover was due.
Corruption is the biggest evil stopping growth in india
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I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
@@TheRishijoesanu even if FSI increases the officers who are supposed to give permission for more floors on your building will take more bribe😒
I am a Canadian who has traveled to India and Pakistan both, and I can say this is where Pakistan wins hands down against India. Housing is so much better in Pakistan, then in India. Most of the Indian houses I saw were very small and infrastructure of the houses was so bad, it felt like houses in India are 100 years older then in Pakistan. I traveled to Islamabad, Lahore and Karachi in Pakistan, the houses there are so beautiful and with western/Mediterranean designs and most of them were so new. In India I never saw such houses, most of them were so old, small and crumbling infrastructure, yet they were so expensive. The big huge mansions/villas in Pakistan are much more affordable. It seems there is huge corruption in India in the Real Estate Market, Indians are being cheated in buying these sh_tty houses. Please travel outside of India and see what you can get for the same amount of money you pay for sh_tty houses in India
Religion also slowing development
We buy our home last month only
And We got 30% payment in bank and Rest 70% in Cash (Black)
So, it's very common in India
Will there be any legal consequences for paying in black?
@@hardyzme other than avoiding sales tax & registration, this will create further problem with tax people later on. if you sell it, then you have to pay capital gains tax on the official gain on paper, not actual gain on housing price, which will much greater as your original buying price is officially very low, and you will not sale it based on that..as usual people perpetuate the black money route to hide the gain. Therein lies the problem..not only builders but even resell flat owners ask for black money.
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Abey ye cheeze bata nahi bewakoof 😂😂
Why any legal action cannot be taken?
Love the way how you swiftly explain such topic in detail. Love your research work and videos 👍🏻👍🏻❤
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I really like your explanation but you forgot to mention the RERA ( Real Estate Regulation Act), which came into force in year 2016 to regulate this sector also there is a new feature added in income tax site that if someone withdrawal huge amount from bank than it will be shown in your ITR as information....these are some of the efforts which government introduced to reduce black money.
Very impressive study , myself working in real estate , it's a harsh truth but our govt is so corrupt that prices are increasing every quarter of the yr , btw great video I liked it .👍
Mohak, the most important aspect that you miss is Home Loan interest rate, if we got 50 Lac as home loan we need to pay 1 to 1.25 Cr.
Starting from salaries, to corporate culture, to renting/buying property, to basic cost of living, everything seems so bleak and hopeless for young Indian adults. Where is the Joy in Life?
Youth have the power to change the affairs of the country...
@@rahulbhimakari5584 par youth toh instagram reels me busy h
@@kamartaj3010 because there's no hope.
@@jinfin221 sad thing is people are not even trying to change anything
Buy plot in Dholera
Lucky to be in a generation fully of awareness!!! Thanks to you
FSI is not the only thing responsible..Major problem with metropolitan cities is actually non expansion in real sense..statistic confirm this, like Mumbai metropolitan area is meagre 2000sqkm whereas for New York it is 20000sqkm, tokiyo : 8000sqkm, shanghai : 6300sqkm..
One big reason for real estate being unaffordable is speculation, that is happening only because property rights are forever. If government makes it max 30-50 years just like apartments. All property will be brought back to market and highest bidder gets the property, people stop buying just for "appreciation".
Plain speculation is both wasting money and making real estate unaffordable.
8:38 Correction: If the 'legal' price is 1Cr then due to corruption the 'illegal' price becomes 2Cr... Because the data says that if corruption were to be resolved the price would drop by 50% implying that 50% of 'illegal' is equal to 'legal' price... Therefore 'illegal' price is actually double the 'legal' price (since 50%=50/100=1/2, taking which to the other side makes it 2)...
Small error but great video... 👍
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The way you choose the untouched yet important topics is incredible....and your in depth explanation is awesome.
My father bought a 80 gj plot 7 year ago in jaipur and the price was 7 lakh at that time,and the plot was not even in main jaipur.but in legal papers the price was less then 1lakh..
I live here in canda brampton recently my uncle bought bungalow of 3 cr which was quiet big a space of 4600 sq ft in outskirts of city and a good enviornment with less traffic and congestion..
my respect to mubaikers increased after seing their houses..
now i realised why mumbaiker nikhil wanted to shift to canada.
@@user-zw1pd8rm6e bas hoogaya flex karkay?😥
@@user-zw1pd8rm6e realy in crores ? 😂
@@kaun_mukul3338 it was lone and he is a candian citizen so he gave only 10 percent downpayment.
@@user-zw1pd8rm6e he was or he is
I have lived in Bangalore for 8 yrs. I have always loved the city. I got married and am planning to move out of my shared appartment and the increased rent prices have just hit us. This so unreasonable. Nothing new has happened in Bangalore. Our salaries are the same. Few landlords started and everyone has followed. We spoke to a owner who is charging the older rent of 26k from current tenants for 2 bhk but asked us to pay 40 k citing "rent badh gaya hai Bangalore me". This was a city i loved so much!!!! I don't even know if or where can we complain
Totally agree with this. The rental prices have increased exorbitantly over past 2 years yet there's demand for them at that price.
I used to think youtubers mock about the price of Flat in shorts, but after hearing 2 Cr ,it all seems real
We bought a 5 acres of land in 12.5 lakhs but we paid 2.5 lakhs in cheque and rest 10lakhs in cash (black).
This is very common in India.
Which location did u bought this land? Is it very far from city? Sounds not too costly, I would be interested in buying.
5acre in 12.5lakhs 🤔
Bhai kuch zyada sasta nhi h
bhai kaha pe , bata de
FBI!! OPEN UP!!
Fake comment
I think you missed most important points, like How Indian property is inflated compared to other country. Buying power of Indian House on the basis of Average salary .
I don't want to waste my whole life working just to buy a shitty flat in Mumbai or Delhi & live in unsafe place with corruption everywhere. This is the main reason why we want to leave India.
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How Anti-national you are. India gave you so much and now you find that place bad
@@racistronin BOT
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
Same i also want to leave india instead i can work hours for buying a house in silicon valley of usa
The problem with removing corrpution now is that the people who have already bought a property will face heavy losses. It is a paradoxical situation now.
lagta hai apne khrid lia hai.. to aap nhi chahte ki prices gir jaye
Since thses are not liquid assets they will face losses on paper so they should wait till the price go back up and digest the minimal losses.
After all one can't go much longer destroying younger generation's lives forever, someday sooner or later this artificial inflation should deflate and better be soon since it will be win-win for all, the more time it takes the greater losses investors will face.
Moral paradox for sure.
@@aakashsahani2991 true that.
@@ajaysinghrathore1940 nope. Just stated a fact. Would love for the prices to fall down to make my first purchase.
That loss will only be temporary. There will be a surge of demand -- this time from genuine buyers -- that prices will again creep back up.
0.25 Dadar is center of Mumbai , its residential & commercial location. in 70's & 80's Bollywood celebrities can't afford it to buy property in Mumbai city. so they shifted to Mumbai Western Suburbs Bandra.
When remote work started... even the owners of the houses in the remote places started increasing the prices drastically.... it's about getting chance to loot the money... every human is an opportunist....
Rents in India are so cheap, I don't get the point of buying a house in India
My family shifted to the USA in June 2011. The only way to have a home was to sell our ancestral land and buy a house, or to go to the USA and grow ourselves.
My family chose growth. However, my mother couldn't speak English, so it was a big problem for her. She always remained isolated and didn't talk much to people. Americans were very rude towards her. She worked double shifts to send me to a good college. She hid her pain and took a loan from the bank to gift me a Microsoft laptop on my birthday.
I am sorry, I can't express my pain.
So we thought we would shift, and from there I completed my high school and college. Within a year after completing college, I was able to afford a home and manage my expenses.
So itna asaan bhi nahi hota America me Ghar Lena.
The same story is everywhere.
Thank you for likes
I feel your pain
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Lekin America jana hi kyu tha? India mai achche jobs nhi the ya achche colleges nhi the?
Your mum at least got a job there. That's not possible in India nowadays lol
@@titan3537 ek dum sahi baat, ab bol bhaag ja Pakistan 😂😂😂
You can't just increase floors per land. With existing limit itself we are not able to provide things like water . There is huge water crisis in cities like Bangalore.
So, first you need to think of plans for such issues before increasing floors per Sq feet...
Corruption within Real estate That's Common Thing... BUT Without Corruption it is Unimaginable... Specifically in India...!
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
I don't know what's the actual reason behind sky rocketing property prices in Mumbai, but surely saying our HYDERABAD DECCAN is the best place for building homes, 10k worker can also live here. Proud to be HYDERABADI.
FSI value depends on many factors based on the bylaws of the city's governing authority. It also depends on the size of the plot, the location, width of the adjacent road, availability of power, sewer lines, water, earthquake zone type and also the type of building - commercial, residential, worship, institutional, etc.
If fsi is not regualted well then builders will make tall buildings in small plot and that is very dangerous. In India people leave no space for road. When such tall structure falls down it will be disastrous.
I cud have bought 2 BHK apartment for 80lacs-1 crore but I chose to construct own house outside blr urban area for 80 lakhs 2.5 floor 😊
The Best Way Is To Construct A House In Your Village At Least Youll Not Live In A 2.5 CR Matchbox Hanging Over 17-18th Floor In A City 🙂
Ham village mein hi khush hain...nahi chaiye saher jane ka....just enjoying in our village..🤸♂
Even if FSI is a thing, several buildings both commercial and on personal property violate it. You'll see a ton of housing areas that are having 4-5 floors (and being rented out) while that plot is not being approved for such activities.
Speaking from what I've seen in Bengaluru for the past 25 years.
Very nice points raised bro
Corruption by local property dealers should also be included , they increase price and don’t let anyone sell property below that prices … they create hype in market pseudo hype .
This is something everyone is aware of who has tried entering the real estate market. It's horrible in India and no one will want to solve it as politicians get majority of their money through this source
You forgot brokers.. they play a big role in it
THIS MAN NEVER DISAPPOINT TO MAKE US LAUGH
@@racistronin johoni
I don't know why it took so long for people to realize this. Indian cities are expensive because of low FSI (floor space index) regulations. That's it. It's a dumb regulatory problem that can be easily fixed.
This topic was on my mind since months. Great video as always 👍
For 80 lac you can get a 7300 sqft mini farmhouse type land in outskirts of Gurgaon.
And the registration cost is also just 2.5 lac.. Cost of living is the one reason why I sometimes feel reluctant to go out of Gurgaon or Faridabad. They have all the facilities like big hospitals, schools, sports a academy etc, and if you just go 15 km outside the city limits, you can own a sizable chunk of land in a Village where you can legally construct a house.
What’s the point of living on the outskirts of Gurgaon?
I don’t know what you’re talking about. Circle rate is mostly very high wherever we have seen flats. Also most builders take only white. In fact recently my uncle sold a property in Goregaon East and it had barely appreciated in 11 years. He sold the flat for only 70lacs
Glad my city neither feels vacant nor overcrowded. It's a perfect balance and from what I have heard is rent is pretty low.
Which city?
Which city?
Most probably Chandigarh
Demand bhaaad gayaa.
Dila de ghar Chandigarh mein
I have personal experience with black money, have been to several builders they all were asking atleast 50% in black
Cant government form some agencies and make their officers as customer and catch these builders red handed ??
@@rahulbhimakari5584 They have connections that go upto big MLAs. Nothing will happen to them. lol
Good to see my area R.T. Nagar, Bangalore in the video. I stay in an apartment on rent. Don't have any plans to buy any house because of highliy inflated rates.
A couple of other factor's i feel for these jacked up prices:
* Builder's borrow money at high interest rate and pass on the burden to buyers.
* "Investment" from NRI's in Indian Real estate sector.
Boss. Check your facts. The FSI permissible in Mumbai is 6.7. Yes, purchasing FSI above base FSI (range b/w 1x - 1.3x) is expensive. But things will get rationalised once there is urban deterioration to keep up with the demand.
I’ve learnt a lot from this channel. Love from Nigeria.
r u nigerian ?
Are you a prince? Give me my money back!
@@tmg1219 🤧
सिर्फ solution है कि गांवों को develop करो तो लोग शहरों की तरफ नही भागेंगे
In assam we buy a 1 Bigha land in 14 lakh rs.
But non local residents cannot able to buy land here
I really request you to cover the topic of DBRAITS affiliation issue, mainly because it's issue where the whole adminstration could be held accountable and the other reason being no other mainstream media is covering the issue(It shows how secluded A&N island remains) covering this issue will be a great support towards those students whose futures are ascertain because of a Greedy Principal and a corrupt Administration.
Edit: please check the news report from Nicobar times on 28/09/2022 protest and what went wrong. You'll understand the gravity of the situation.
We need a part 2 stating hows these problems can be solved.
Informative......... Nice approach Mohak bhaia ❤️❤️❤️❤️❤️
Just an Update: 2bhk in Ulwe are currently being sold at 1.5cr and 3bhk for 2cr. (Forget lowering instead prices jumped by almost 50% while you were making the video 😂)
Anyways Keep up the good work Bro.
Another thing which I think would help solve the issue is if people did not have to migrate to metros for jobs. I have seen in Germany for example that even a small city e.g. Hannover has a pretty decent sized industry which translates to lot of jobs for the locals. The tendency of our MNCs to set up shop only in big cities is also something which encourages migration to the big cities. Probably this is due to connectivity issues in small towns.
IN european countries they have concept of University Towns, so instead of building a new university in a large city, they select a relatively small town and bulild Univeristy there. Thousands of students go there instead of adding into the big city, and the town also benefits from growth.
Exactly. Good point. Rather than increasing fsi increase job opportunities everywhere and reduce corruption ofcourse.
Hum sirf IT par hi focus kar rahe hai. Production pe koi dhyaan nahi hai.
Why these type of videos are not trending on UA-cam? First People are not giving attention to the problem and then goes around blaming the world...
1. Ahmedabad has FSI of 5.4
2. Even cities with FSI of 10 or above, have not solved housing problem, housing ia still very expensive in NY, Singapore even for their income levels
I always wondered why there are so less skyscrapers in India from childhood now I have my answers.
We don't have to pay gst on purchase of flat. We have to pay stamp duty tax as per the valuation of stamp duty authority given in sec 50C of income tax act 1961.
Upsc wale ho kya
I know this , in Patna the new real estate hubs are Jalalpur city , Gola road and people spend their black money to either buy flats or constructing luxury societies
I regularly watch your videos about Indian issues and believe me the issues are literally the same here in Pakistan, cannot even feel the difference if you remove the city names.
I agree bro
In faridabad developed areas it cost around 1 to 1.2 Cr for 3 bhk flat
And 40 to 60 lakh for 2bhk
Homes being so costly, but still flats are sold. I don't understand who are the buyers and what they are doing to earn a living. I know that there are a lot of vacant unsold flats inventory also but still builders are constructing new buildings. Don't understand the mathematics behind this.
Being in tier 2 city ... I always wonder when i go to metropolitans that who stays at top most floors of huge skyscrapers some of which being at outskirts and away from the city .. that too flats being so costly.. i wonder
log gav ke khet bech kar metropolitan city me flat le rahe hai , gav valo koi ladki deta nahi aur wahi ladka khet bech kar city me flat le to ladki mil jati hai
Buyers are mostly NRIs, businessmen. Imagine how much money NRIs are minting now that rupee is falling rapidly.
I guessed 1 crore when he said at the start to guess the price... 😂 I wasn't surprised when he said 2 crores because it's Mumbai... But damn... 2 crores is a hell lot of money !!
I only thought it would be 40 lac😂
Suprisingly I thought about 2 crore only 😂😂😂, just a random thought .
Bura toh is baat ka lagta hai ki Indian Government ab apni image pure rakhne ke liye aesi achi videos hataye jaa rhi hai, GetsetflyFact aur Dhruv Rathee k videos hatayi gayi hai
Having a real estate business, I cannot agree more!! Property rates are rising very fast & many people prefer to invest their legitimate & illegitimate wealth into it. Volatility is much less than stocks.
Bhai Mumbai me to FSI bohot jyada hai. Sab skyscrapers hi to ban rahe hai.
Real reason is builder-politician nexus. Builder are more than happy to hold onto excess flats but will never sell at low price. Kuch bhi karke bhav upar hi rakhenge.
Rental yields in India are one of the lowest in the world and if you want to rent, the cost in PPP is one of the lowest in the world no matter what city, so it's better for you to rent property and put the rest of the money into your NPF or PF account
Also, you won't be able to buy a house in any major cities around the world, a house in London can cost you anywhere from 10 million GBP to 60 million GBP while the median wage is 1600 GBP per month after taxes
Edit: the FSI that you have mentioned is inaccurate, FSI won't change anything, the higher the FSI, the worse the city design, the solution is nationalising real estate development and developing khrushchevkas or developing communal apartments like in 1920s USSR, or Georgism can be implemented and an authority like the Singaporean HDB can be implemented.
Also, the 'corruption' that you have mentioned is not Corruption at all, it is bureaucracy and it's always going to be the case in a Capitalist country, you have to spend many years and a lot of money to get a building permit, its the same everywhere, the reason Singapore can build apartments fast is because the Singaporean Government owns all the land in Singapore and leases it out on 40-year or 99-year leases
If anyone wonders why there's no change happening- Here's an example of genius people who stop the change midway and make peace with whatever shitty living conditions they're being provided because "It's the same everywhere and that's how it works".
A house definitely doesn't cost £10M in London.
You could have added how intentional infrastructure shortage in cities also is to increase the cost of developed areas/ flats.
How big builders are pooling huge black money and creating artificial shortage, and how they use huge marketing budgets to take people for a ride ..
3bhk in dehradun generally only costs 50 to 60 lakh rupees which is quite resonable.
Which area bhai???
chalo Pacific Golf Estate :p
Bhai Mumbai me ek padosi ke relative ne ek flat kia h 85 lacs ka 19 floor par 4 sal phle or idhar meerut me itna me to ek kothi ban jaye .( Metro ki wajah se price increase ho gaye h to ab thoda muskil h )
6:28 if someone who have 1 cr rupees & want buy home to voo 20% tax kuy de … uska bacha to government school me nahi jane vala.. usko to electricity bill me discount nahi milega … us tax se use jayda garbi ka fayda hoga jo 1 cr ka ghar hi nahi le sakate…
That’s why india equal taxation hona chahiye