save the IT people from Debts

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Save the IT People from Debts
* Property market  in Year 2001 -2004 was quiet Ok , People were able to buy Flats in reasonable rates .
*Year 2005 -2006 , Some of the well known builders  started the rates boom , flat which was at the cost of   Rs.900 Sq Ft  now became 2200 to 2800
Q: Are there any additional facilities ?
 --> No  Same Scheme/Area , Flat sold at 10 Lacks Now selling at 25 Lacks .
  Q: Why Property increased so High ?
--> IT people competition to buy sweet home ..
  Q: Who is going to Benfit from this Property Boom ?
--> Only Builders and some of the Politicians  
  Q: How is the Bank's support on Home Loans ?
--> Last Year , Bank gave the loan's at flexible mimimum rate,Now Banks has sufficient number of customers ,
  (Trap) Slowly Banker's increasing interst at % 0.5  every month .
  IT People Who bought house for 22 Lacks  for 20 Yrs , Now became 23 Yrs with raise of   0.5 %
  Q. How  some IT people can face the problems in Future ?
--> Companies are  Project Based , If  Projects are there then People will not be there .
  Q. IT salaries are high in Market , How much actually IT-people getting in Hand ?  
--> People, Who bought house of  22 Lacks to 40 Lacks   They need to pay EMI
    15,000 to 35,000  for 20 Yrs. If Bank keeps same interst rates .
     Suppose Salary is 35- 40 K  Per Month, 20K will be the EmI  
  Q. Is there any "Terms & Condition or Processes to increase rates" ?
  --> No , Depends on Buiders Greediness . Every builder follows the different strategies
      Builder sold one flat 1500 Per Sqft  in Morning and 1800 Per Sqft  in the Evening ,
    There are no records maitained ..
 
Q. Who made builders smart & greedy ?
  --> Fool IT people ..
No body is asking  , Flat was sold at 12 Lacks , Why now 24 Lacks ?
  Q. Is Corporation water & MESB available to all schemes ?
--> Some of the area don't have the Corporation water at all , People surviving on Water Tankers.
     ** MESB  .. Under Table ,can be managed easily .
  Q. What will be the condition If We are not able to Clear the Loan ?
-->  Depends on individual capabilities
Q. What wiil be the actual 'area of living' or carpet area if the builder proposes 1000 sft?
....> The actual carpet area will be 800-850 sft only. The common area is also included in the proposal.
        If two flats are in the same floor, then the builder cheats both the residents by collecting
  How do Builders cheat buyers? ... Let us see with a simple example
    Builder XXXX proposes a flat in a decent residential area.
   Rate ( Unit Price ) - Rs. 3500 sft.
   Registration          - Rs. 40 per sft.
   EB and drainage  -  Rs. 50,000
   Covered Car park  -  Rs. 1,25,000
   Corpus fund         -   Rs. 50000.
For a 1000 sft flat ( 850 sft carpet area ), the approximate cost will be Rs.37,65,000. In the same plot area ( measuring 2 grounds) the builder would have constructed 8 or 10 flats.
Let us see how a builder earns his profit
Total sales for the builder - 37, 65,000 *10 = 3, 76, 50000 ( 3.76 crores)
Cost of the land               -  Rs. 40 laks per ground
1) Total cost of the land                       - 80 lakhs for two ground     -------   A
Total builtup area for 10 flats                - 10*1000 sft  = 10,000 sft
Construction cost per sft ( for normal specification) = Rs. 900 per sft
2) Total construction cost                           - 10,000 * 900 =  Rs. 90,00,000     -------------- B
3) Other expenses for the builder                - Rs. 20 per sft  = Rs. 2,00,000      ................. C
Total expenses for the builder  =  A+ B+C
                                                 =  Rs. 80,00,000 + Rs.90,00,000 + Rs. 2,00,00
                                                 =  Rs. 1,72,00,000 ( 1.72 crores approx)
Total Sales                               = Rs. 3.76 crores - Rs. 1.72 crores
Total profit of the builder          =  Rs. 2.04 crores.
Let us see the share of each resident
1. Cost of land  = Divided share among the other 10 residents
                        = Rs. 80,00,000 / 10
                         = Rs. 8,00,000
2. Construction cost = Rs. 900 * 1000
                                = Rs. 9,00,000
3. Other expenses   = Rs. 2,00,000 ( approx)
  Total                     = Rs. 19,00,000 ( Nineteen lakhs)
The total share for each resident is Rs. 19,00,000 ( Nineteen lakhs only )
but he pays Rs. 37.5 laks for the flat.
Q. How  We can stop Builders -Property Boom ?
         1) IT People  should stop buying flats for  atleast next 1-2 Yrs .
     2) Onces rates are reasonable , With some legal process get the Booking .
     3) Check Facilities, Convince, Road Approach, schools & Mainly co-operation water
     4)  Ask Questions  If I buy 1/2 BHK at 12 to 30 Lacks , Do I get reasale value in future?
     5) Today you are capable for paying 1000 -3000 maintains per month ? Will will be the same case
         after 20-30yrs after  retirement .
    6) In All, Don't stretch more  to get the more & more loans other wise it will create unnecessary  
         pressure and tension .
     7) Read the above mentioned calculation carefully, when you are about to buy a flat pls keep this in mind.

Please read this carefully
�� Send it to all you know     Act quickly ..Save them from debts �� .We can stop the inflation .
 
 
 


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