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Save the IT People from Debts

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Hi,

(below email "Save the IT People from Debts" was wonderful and we should go through it and also forward to all our friends)

Real Estate price hike is known open robbery from IT guys by brokers / whoever it is and it's not only Flats / Real Estate, IT guys undergo open robbery from all rich shop owners / a person who wanted to become rich as fast as possible...

The salary whatever we get, it's our hard-earned money, most of the times sitting in the night, away from family functions, friends, etc...but all our money or most of the money are going to someone who just takes advantage of our stressful life (both mentally and physically) and our new western life style.

I do not find anything wrong in having a US / UK life style, but many open thieves (starting from Ministers to our local Restaurant owner) just swindling all our "legal money" and as we do not have any other choice becoming poor / debtor day by day.

Well most of the price hikes are just unbelievable and there is absolutely no justification (few examples given below).

Chicken Biriyani (Karaikudi 3 weeks back) - Rs. 65

Today (since last 2 weeks) same Karaikudi Chicken Biriyani (believe me, there is absolutely no change) - Rs. 78, there is no justification for such a big increase.

Pop Corn (Sathyam Complex) previously (month and half back) - Rs. 20

Today (almost the same quantity) - Rs. 30 (again, i do not find any justification)

Corn in Garuda Mall previously (month back) - Rs20 Small, Rs 30 Medium and Rs 40 High

Now,     No "actual" small and real small has become 35 now and 45 for high... [Are they the farmers who have given their blood to grow this ]

(In Sathyam complex, many price hikes are really too much for no reason...)

Chips packet (Gangotree) previously (three months back) - Rs. 15

Since last two Months the same packet costs - Rs. 20 (again, I do not find any justification)

Room Clean (just once) - Rs. 200, that's bcos they cleaned IT guys room.

(The moment you say that you are from Software company, the price automatically increases...)

We guys already pays big taxes from our salaries and goes on paying other taxes too (starting from Hotel Sangeetha "Vadai" to Scotch in a bar), it's time to think and pledge ourselves that we stop spending just for one month...

Reason(s) why we should stop spending alteast for a month:

    1. 70% of the IT guys occupies the restaurants.

    2. 80-90% of the IT guys goes to coffee shop, hang around places, bakeries, etc.

    3. Most of the IT guys goes to Sathyam complex, Movies

If we stop going / spending just for a month, their business automatically goes down and they would have no other choice except to bring down the price, that's what happened when IT industry was down three years back.

Somehow directly or indirectly we are responsible for this unjust price hike and now, only we could prevent this open robberies, please add your comments or experiences and keep forwarding this email to all your known people, I am sure even if 25% of us realizes and acts accordingly, it could and would make lot of difference to us.

(let's try and prevent unjust price hike)

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 not 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 ?

  --> Greedy 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 think about 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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