Looking at Mumbai

If I saw something like this happening, I'd go and buy as many as I could. Its not a mining town and there will always be a demand for land in India as Indians become more wealthy...

 

Nah mate...too small

Can you find one like this

 

Sorry @ashish1137 - as per @Gockie, I missed you. @MsAli?

 

We bought because it was in vicinity of Chandigarh, the cleanest and greenest city of India. Education and hospitality hub, only city where 80% of the properties touch 200k mark.
We bought in the vicinity thinking the prices might be beyond reach and i think that was a very wise decision. Not exactly a posh area though.

Another i bought for 34k in Jaipur in 2012 near to India's largest SEZ (special economy zone). That currently stands at 70k. I still see value in that and will keep it for another 4-5 years.

But i bought that with only with reputed builder as the notion in India is you dont buy where you dont anywhere else than where you live unlike Australia. If you buy open land, there are great chances you will see someone else possessing it in case it is left vacant. Ample such cases have happened.

Regards

 

I think...you need to double check the number of wealthy Indians....over the next few years...the focus will move from China which will be the first newly industralised country to struggle with a rapidly aging population to India.

The money will be in India not China as the central govt in China puts in place policies to contain the issue with a rapidly ageing population.

Think Japan with 11 times the population

Also India has far more transparency than China which makes it an excellent incubator for companies. However, corruption in some Indian states is out of control...

 

Dont tell me you are diverting your attention towards India now.

There is a real estate law which is due to be passed I think. Also 8th pay commission about to roll out. I think it will help the property to come up. Then I will start selling.

Regards

 

Nope...have no interest outside of Australia.

My point is exactly what I stated...forget China..old new...new interest in Australia i likely to come from India, Indonesia, Vietnam and to a lesser degree Sri Lanka, Phillipines as these countries rapidly progress to the next stage of development.

It also means a lot of dislocation of jobs out of Australia, China as these countries grow more aggressive.

If China does not move to being a developed country...they will not be competitive in the larger cities where wages are quite high in comparison to yesterday year.

 

Hmmm, I think that is a good observation. I know a couple of good paid IT prodessionals from India who have bought flats in UAE (Dubai, more specifically) around 3-4 years back for 150k. They have got a good cg growth by now and rentals already are good there.

Regards

 

Land? did someone say development? @Westminster @MTR

 

Sorry for highjacking the thread but couldn't stop myself sharing this link.
Here is mycity in news

Link

Regards
Ashish

 

This thread is an eye-opener.

Apart from UK, US, NZ, and (vicariously througj my partner who is from there), Brazil; I'd never considered other markets such as India.

Good to learn about some of the dynamics at play there.

I personally would prefer Spain but that is more for selfish reasons (the Visa scheme attached to property ownership is pretty cool..)

 

who wants to look at me?

 

I work with plenty of Guys from India due to the industry. Their stories more than confirm that you need to be around or have a very trusted contact just next to your property. One guy owns land and puts a fence to avoid people just settling there with no authorisation, and guess what his fence was stolen a couple of times already....

 

@datto: Is it an offence to br caught fencing fences?

 

Just wanting to get your thoughts - so why not go to the source of all things Mumbai?

 

Sorry mate...quite the correct question to ask..ask is it illegally to shoot anyone stealing?

 

Remember. It's only an offence if you get caught.

Sorta like when a tree falls in the forest, you only hear it if you are there or you left a recorder there.

 

missed @sanj
edt: oopsss his name is the first post