Many Indians are finding it hard to decide whether they need to get their dream home now or wait till they make the jump to buy a house. Choosing a house is not easy, let alone financing it. There are lots of possibilities.
Here is a good article from outlook india. This was a long overdue article on the real estate market. Thanks to Arvind in bringing this article up in our blogs. This will surely help you make an independent choice whether you are ready to make the jump or not.
http://money.outlookindia.com/article.aspx?sid=10&cid=70&articleid=7978
My view is probably you really need not buy a house now. You can get a better deal later. In the mean time stay outside the expensive residential localities too otherwise you will end up paying too much on house rent.
Some good graphical representations in the above article.
http://money.outlookindia.com/MagIssueImg/31Dec08/Pg-42-salary-increase.jpg
http://money.outlookindia.com/MagIssueImg/31Dec08/Pg-40-credit-squeeze.jpg
The government policy too is one reason for the boom in reality prices. With more income even persons not really interested in getting a home buy it because of Tax benefits.
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