Update On Indian Property Bubble 2012
Real estate research firm PropEquity said new home sales in Mumbai and NCR dropped over 50 per cent in Q1 of this calendar year. India is having the world's largest housing bubble if you take Per capita income into consideration. Indian per capita income is 64000Rs at 2012 while housing prices for 2BHK in metro cities ranges from 50Lak to 2 crore rupees,indicating a massive massive bubble.Unlike China,where Govt has been taking actions against bubble Indian Government is doing nothing to control the bubble.
Read more about this topic: Indian Property Bubble
Famous quotes containing the words indian, property and/or bubble:
“As the global expansion of Indian and Chinese restaurants suggests, xenophobia is directed against foreign people, not foreign cultural imports.”
—Eric J. Hobsbawm (b. 1917)
“Personal rights, universally the same, demand a government framed on the ratio of the census: property demands a government framed on the ratio of owners and of owning.”
—Ralph Waldo Emerson (1803–1882)
“Then a soldier,
Full of strange oaths, and bearded like the pard,
Jealous in honor, sudden, and quick in quarrel,
Seeking the bubble reputation
Even in the cannon’s mouth.”
—William Shakespeare (1564–1616)