I T Recession How To Survie 2008 & Beyond


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I T Recession How To Survie 2008 & Beyond

  1. 1. This may be the House of your Dreams! Read this till the END this can save yours lacs of money
  2. 2. Guys there will be very big slack in 2008 in overall world. In USA 17,000 People have lost there job in Jan 08. No doubt India will also show effect. It will directly affect IT industry. Think before every buck u r spending. Survey’s shows that IT People spends unnecessary more money than other professionals. Plan ur monthly budgets properly. Be wise, while purchasing or taking flat on rent . Do not give Brokerage or other than rent. [Brokers are creating new trends in People’s that they should be in every deal] What’s need ? Banks, Builders & brokers are directly eating ur money. Banks Gets loans from other countries in very cheap interest rates for different purposes & they are offering us with minimum 11-12%.
  3. 3. While Purchasing every flat of actual price of 10-12 Lacs u r giving 25-35 Lacs. With interest it goes more than 50 Lacs Such loans are not with fixed interest rate for life time. That means u r giving them more than 3-4 times amount what actually it deserves. Think for future If in future u looses ur job then how u can pay the EMI of 10-15k. No Doubt after 10-15 yrs if these types of slack comes. News headlines will be like “xx IT professionals subsided due to burden of banks for Housing loan” Its a future call guys………….
  4. 4. Why IT peoples are going for flats. Why don’t you people try for co-operative societies. If u goes for societies u’ll get flats in 15 Lacs, with wat u want ? & no doubt that construction will be better than wat builder’s are offering Life of flats which are under construction or 5 yrs old will not be more than 50yrs So buddies why u r giving 50 Lacs for 50yrs. Instead of this co-operative societies have shown good qualities. THINK THINK THINK THINK Guys Its time to “HALLA BOL” On builders, banks, brokers, & the ppl who r lootofying us.
  5. 5. Warning ! Save your self and others from Builders & Bankers hunger of money… Yap I want to buy house but can’t…. 
  6. 6. Is this your dream house? Their hunger of money ruining our dreams 7% -11% increase, is this tolerable “ advantage of helplessness” Builders increasing their profit to 60% Banks taking advantage of demand increasing interest rates Problem: We dream for house Curse : we are IT professional, ‘have money printing machine in their perspective’ Solution : Either stop dreaming, pay for 40 years, stay in rented house for whole life Or get united stop buying house for a year to give them lesson till their rates cum down to save their bread & butter Everybody has a right to dream & fulfill it but…..
  7. 7. 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 -2007 , Some of the well known builders  started the rates boom , flat which was at the cost of   Rs.900 Sq Ft  now became 3000 to 4800 Q: Are there any additional facilities ?   --> No  Same Scheme/Area , Flat sold at 20 Lacks Now selling at 45 Lacks .   Q: Why Property increased so High ? --> IT people competition to buy sweet home ..,they are bound to take…. . Q: Who is going to Benefit from this Property Boom ? --> Only Builders ,Bankers and some of the Politicians     Q: How is the Bank's support on Home Loans ? --> Last Year , Bank gave the loan's at flexible minimum rate,Now Banks has sufficient number of customers - RACING WITH BUILDERS INCREASE ,   (Trap) Slowly Banker's increasing interest at % 0.5  every month .   IT People Who bought house for 22 Lacks  for 20 Yrs , Now became 28 Yrs with raise of   4.0 % No   Cinemas, No coffee day, No Barista, No hotel, No disc, No shopping..,no money sending to family.. (You know where to go and where not to go after reading this mail...) for 1 year at least 6 months…
  8. 8. 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 … LOAN IS A TYPE OF TENSION..YEARS ARE INCREASED   Q. IT salaries are high in Market , How much actually IT-people getting in Hand ?   --> People, Who bought house of  30 Lacks to 50 Lacks  ,now They need to pay EMI 25 ,000 to 35,000  for 30 Yrs. If Bank keeps same interest rates .      Suppose Salary is 35- 40 K  Per Month, 30K will be the EmI     Q. Is there any "Terms & Condition or Processes to increase rates" ?   --> No , Depends on Builders Greediness . Every builder follows the different strategies       Builder sold one flat 2000 Per Sqft  in Morning and 2800 Per Sqft  in the Evening ,     There are no records maintained .. RATES JUST INCREASING …… Q. Who made builders smart & greedy ?   --> Greedy IT people .. No body is asking  , Flat was sold at 15 Lacks , Why now 35 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 .
  9. 9. 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.
  10. 10. 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.
  11. 11. <ul><li>Q. How  We can stop Builders –Property -Bank profit Boom ? </li></ul><ul><li>IT People  should think about buying flats for  atleast next 1-2 Yrs . </li></ul><ul><li>Once rates are reasonable , With some legal process get the Booking . </li></ul><ul><li>Check Facilities, Convince, Road Approach, schools & Mainly co-operation water </li></ul><ul><li>Ask Questions  If I buy 1/2 BHK at 20 to 45 Lacks , Do I get resale value in future? </li></ul><ul><li>Today you are capable for paying 1500 -3000 maintains per month ? Will will be the same case after 20-30yrs after  retirement . </li></ul><ul><li>In All, Don't stretch more  to get the more & more loans other wise it will create unnecessary  pressure and tension . </li></ul><ul><li>Read the above mentioned calculation carefully, when you are about to buy a flat pls keep this in mind. </li></ul><ul><li>Please read this carefully * Send it to all you know * Act quickly * Save them from debts. * We can stop the inflation . </li></ul>Either we should be united and stop buying houses on such rates of builders & bankers,or Government should handle this big issue by making some rules and regulations Some fix Sqfeet area for fixed rate with tolerable interest rates.
  12. 12. This was the major issue for survival,now other big issues aswell are: 1-Auto riksha’s without meters asking for half returns..RS-35 for 1km “ are koi note chapne ki machine hai kya jo muh khol kar sab mangte rahte hai,mehnat se IT company me aye hai,tum bhi mehant ki kahyo..”reasonable” 2-Broker’s asking for 2-3 months rent,each 2 nd house is person will become broker to earn money..like sabjiwala,security guard,society secretary,panwala,barber,newspaperwala,shopkeeper,builders,everyone is becoming broker…what is this….GHOR KALYUG…. 3-Rent for 1 BHK is 10k,2bhk 15k..what is this ..then brokerage…rent should be like rent not…to ..make payees suffer… If they want to make money go struggule …why to lootofy people… Government is for what to govern,to make rules.. but they are just making their balances with blind eyes.
  13. 13. Solution: To these issues 1-Government should pass a rule for autowala’s- always use meters Or take autowalas to artio office or police station for asking more money..like half return in the day time Or become Gunda like them and don’t give let them run behind you..see what they can do..they can’t they’ll be in the same situation as we are like helpless to save time we fullfill their demands..which is wrong.. 2-Their should be some registration numbers for each broker,issued by some government authority.and make maximum use of office internal sites and friend’s office sites instead of approaching brokers 3-For rent also some government or housing authority should make some fixed stop taking houses on what they deserve or stop giving excess money take houses on location where u get reasonable rated I know it’s difficult but someone has to take initiative to stop…….
  14. 14. Thank you It’s the start…………….. Please read it and circulate as much as we can.