Dream house planning through loan
How land corruption can affect your Finances
Scams concerning land appear to directly hit people's savings and investments in a way that telecom and coal can never do...
The trajectory of property prices in India has become a massive conduit for the transfer of wealth from those who have land (or can somehow get it cheap) to those who don't have it but need it.
A decade ago, buying a Rs 25 lakh apartment typically meant an EMI of somewhere around Rs 25,000 for 15 years.
Today, a similar apartment can easily cost a crore.
Even if interest rates had not increased it would have meant an EMI of a lakh a month.
With higher interest rates today, the sum is closer to Rs 1.15 lakh a month. Effectively, where you would have paid Rs 40 lakh over fifteen years, you now pay Rs 2 crore!
Read full article at :
http://www.valueresearchonline.com/story/h2_storyView.asp?str=21207
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