485Mbe4001
06-11 01:48 PM
i wanted to aviod posting this, but please include a bit of realism in your optimism. Full disclosure: i am EB 3-I
We had a discussion on our chapter here is the extract of the email that i sent based on a couple of similar comments from fellow members.
After talking to a few of the fellow members, i feel that one the main causes for inaction is that folks who have applied under EB 2 India feel that the spillover from ROW EB 2/1 and India EB1 will be sufficient to get them their GC's in 2 years tops. EAD/AP for two years is no big deal. There is no urgency to get things done or the motivation to step up to the plate and make a few calls. If that is the case, then chances are that you are mistaken.
a) we have no estimate of the per country breakdown of pending applications.
b) we have no idea how many EB2 India applied in July 07
c) we dont know the number of multiple applicants who have EB2 and EB3 applications pending (spouse and self).
d) We have no indication of the 300k applications who were stuck in namecheck and are now eligible for approval. Namecheck victims were from all countries (you can see that ROW EB 3 is U)
This affects ROW as well as the retrogressed countries as the per country quota is still fixed.
We cannot wish this mess away. Making a few phone calls at lunch should not be a big deal.
I am Not sure everybody follows Federal Reserve revising short-term rates by every month and Financal analyst were trying to understand language(tone) of Bulletin. And Looking at tone of VISA Bulletin for July 2008 and historical Bulletins EB2 for India is very encouraging till we see the language next month for India.
VISA BULLETIN FOR July 2008
There have been questions raised regarding the way numbers have been provided to the China and India in the Employment Second preference categories beginning in April. Section 202(a)(5) of the Immigration and Nationality Act .....
VISA BULLETIN FOR JULY 2007
E. EMPLOYMENT-BASED VISA AVAILABILITY DURING THE COMING MONTHS
All Employment Preference categories except for Third “Other Workers” have been made “Current” for July. This has been done in an effort to generate increased demand by Citizenship and Immigration Services (CIS) for adjustment of status cases, and to maximize number use under the annual numerical limit. However, all readers should be alert to the possibility that not all Employment preferences will remain Current for the remainder of the fiscal year. Should the rate of demand for numbers be very heavy in the coming months, it could become necessary to retrogress some cut-off dates for September, most likely for China-mainland born and India, but also possibly for Mexico and Philippines. Severe cut-off date retrogressions are likely to occur early in FY-2008.
We had a discussion on our chapter here is the extract of the email that i sent based on a couple of similar comments from fellow members.
After talking to a few of the fellow members, i feel that one the main causes for inaction is that folks who have applied under EB 2 India feel that the spillover from ROW EB 2/1 and India EB1 will be sufficient to get them their GC's in 2 years tops. EAD/AP for two years is no big deal. There is no urgency to get things done or the motivation to step up to the plate and make a few calls. If that is the case, then chances are that you are mistaken.
a) we have no estimate of the per country breakdown of pending applications.
b) we have no idea how many EB2 India applied in July 07
c) we dont know the number of multiple applicants who have EB2 and EB3 applications pending (spouse and self).
d) We have no indication of the 300k applications who were stuck in namecheck and are now eligible for approval. Namecheck victims were from all countries (you can see that ROW EB 3 is U)
This affects ROW as well as the retrogressed countries as the per country quota is still fixed.
We cannot wish this mess away. Making a few phone calls at lunch should not be a big deal.
I am Not sure everybody follows Federal Reserve revising short-term rates by every month and Financal analyst were trying to understand language(tone) of Bulletin. And Looking at tone of VISA Bulletin for July 2008 and historical Bulletins EB2 for India is very encouraging till we see the language next month for India.
VISA BULLETIN FOR July 2008
There have been questions raised regarding the way numbers have been provided to the China and India in the Employment Second preference categories beginning in April. Section 202(a)(5) of the Immigration and Nationality Act .....
VISA BULLETIN FOR JULY 2007
E. EMPLOYMENT-BASED VISA AVAILABILITY DURING THE COMING MONTHS
All Employment Preference categories except for Third “Other Workers” have been made “Current” for July. This has been done in an effort to generate increased demand by Citizenship and Immigration Services (CIS) for adjustment of status cases, and to maximize number use under the annual numerical limit. However, all readers should be alert to the possibility that not all Employment preferences will remain Current for the remainder of the fiscal year. Should the rate of demand for numbers be very heavy in the coming months, it could become necessary to retrogress some cut-off dates for September, most likely for China-mainland born and India, but also possibly for Mexico and Philippines. Severe cut-off date retrogressions are likely to occur early in FY-2008.
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champak3
06-16 10:42 AM
If you are stuck at Atlanta PERM backlog center , please email your case number and explain them that your application has been pending for a LONG time and request them to help us get out of this grave situation. Also, please post on this thread after you have sent an email so that others can be motivated to do the same. We need to send as many emails as possible to get any positive feedback. I know that DOL mentioned that they will start processing our applications soon, but we need to keep up the pressure from our end so that it has some positive effect.
I know most of the people on this forum are not in this situation ..... but let's see how many can come out of this selfishness and help others by emailing / phoning DOL Atlanta to help other brothers who want to file AOS just like them...... When phone campaigns / email campaigns happen .... we who are stuck at Atlanta help others tooo... so let's see how many on this form help us now...
Here is the info :
email : Perm.DFLC@dol.gov
Phone : 404-893-0101
Thanks
Champak (Same as 1 and 2)
====================
First there was celebration by Atlanta center people and BEC people when visa fiasco happened. They rejoiced that since they cannot file I485, others should not be able to do so too as if this is some divine justice. When this was not sick enough, threads started blaming IV not caring for its members. (BTW this thread is started by a member who is anonymous and has been a known heckler and has posted offensive messages about IV in the past). Then there are emails being sent.
If you think spamming DOL and others with anonymous emails will help, you are wrong. I am seeing lots of emails from people with sender names like 'big_cat' , 'aabbccddeeffgg' etc etc talking about this 'huge injustice' and saying that Atlanta problem affecting 'millions of people' and that this is 'not what forefathers of America dreamt of'. Not even a single person wrote such emails with their name, address and phone number and a case number for someone to act on it. I hope highly skilled and intelligent people of this community use their intelligence when they write such emails. If you are so scared that you cannot even go and meet anyone, so scared that you cannot even write your name, address and phone number in your mail , do you think anyone will take you seriously? The emails core got from its members are also mostly anonymous and some went to the extent of telling core to only focus on Atlanta Perm because this is the 'real' issue.
If IV core was to take such anonymity approach in our advocacy efforts, IV would have been just a spammer organization and nothing else.
If you like to dwell in the shadows then just support IV and let us do our advocacy efforts. Or join an organization for illegals instead of Immigrationvoice. With our efforts and success 'everyone' will benefit. Have patience and faith.
- Pappu
====================
I know most of the people on this forum are not in this situation ..... but let's see how many can come out of this selfishness and help others by emailing / phoning DOL Atlanta to help other brothers who want to file AOS just like them...... When phone campaigns / email campaigns happen .... we who are stuck at Atlanta help others tooo... so let's see how many on this form help us now...
Here is the info :
email : Perm.DFLC@dol.gov
Phone : 404-893-0101
Thanks
Champak (Same as 1 and 2)
====================
First there was celebration by Atlanta center people and BEC people when visa fiasco happened. They rejoiced that since they cannot file I485, others should not be able to do so too as if this is some divine justice. When this was not sick enough, threads started blaming IV not caring for its members. (BTW this thread is started by a member who is anonymous and has been a known heckler and has posted offensive messages about IV in the past). Then there are emails being sent.
If you think spamming DOL and others with anonymous emails will help, you are wrong. I am seeing lots of emails from people with sender names like 'big_cat' , 'aabbccddeeffgg' etc etc talking about this 'huge injustice' and saying that Atlanta problem affecting 'millions of people' and that this is 'not what forefathers of America dreamt of'. Not even a single person wrote such emails with their name, address and phone number and a case number for someone to act on it. I hope highly skilled and intelligent people of this community use their intelligence when they write such emails. If you are so scared that you cannot even go and meet anyone, so scared that you cannot even write your name, address and phone number in your mail , do you think anyone will take you seriously? The emails core got from its members are also mostly anonymous and some went to the extent of telling core to only focus on Atlanta Perm because this is the 'real' issue.
If IV core was to take such anonymity approach in our advocacy efforts, IV would have been just a spammer organization and nothing else.
If you like to dwell in the shadows then just support IV and let us do our advocacy efforts. Or join an organization for illegals instead of Immigrationvoice. With our efforts and success 'everyone' will benefit. Have patience and faith.
- Pappu
====================
bsbawa10
02-19 01:57 AM
Trust me, my friend - I surely believe in systematic movement and by this june/july it will be Dec05 or beyond. Dates for EB2 have stayed around apr04 for really longer and then suddenly to 06. Very few perms were cleared in 05 (as per your posting). It should logivcally be past 2005 , never to go back.BTW ,we missed GC last aug/sept lotto
Me too. Actually , when the movement is not systematic and the gates are wide open, then they randomly pick up the cases and approve whatever file comes to them. The ones with older PDs suffer a lot while the ones with new ones get their GCs.
Me too. Actually , when the movement is not systematic and the gates are wide open, then they randomly pick up the cases and approve whatever file comes to them. The ones with older PDs suffer a lot while the ones with new ones get their GCs.
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hpandey
04-01 08:13 AM
As Ron Gotcher observed, they are still using DOS ( not department of state ! ) programs .
Well they do process millions of applications - H1's , EAD's , GC's ' I-140 , Labor and so many different kinds of visas and other applications . I must say that they are trying even if they are not succeeding. It is probably due to shortage of manpower and experienced personnel. Another problem is that the money that they get from all the application fees which is a very significant amont ( greater than a billion ) some of it is diverted to other programs rather than hiring more workers for USCIS .
I guess we can only make efforts via rallies and other actions that IV does to make them realize the delays and streamline their process but the ultimate decision will always lie with USCIS unless a big political figure steps in .
Well they do process millions of applications - H1's , EAD's , GC's ' I-140 , Labor and so many different kinds of visas and other applications . I must say that they are trying even if they are not succeeding. It is probably due to shortage of manpower and experienced personnel. Another problem is that the money that they get from all the application fees which is a very significant amont ( greater than a billion ) some of it is diverted to other programs rather than hiring more workers for USCIS .
I guess we can only make efforts via rallies and other actions that IV does to make them realize the delays and streamline their process but the ultimate decision will always lie with USCIS unless a big political figure steps in .
more...
hcard
04-30 08:29 AM
TOP USCIS AND DOS OFFICIALS TO TESTIFY IN HOUSE HEARING ON WASTED VISA NUMBERS AND BACKLOGS
http://blogs.ilw.com/gregsiskind/2008/04/top-uscis-and-d.html
http://judiciary.house.gov/oversight.aspx?ID=435
http://blogs.ilw.com/gregsiskind/2008/04/top-uscis-and-d.html
http://judiciary.house.gov/oversight.aspx?ID=435
Keeme
08-14 05:54 PM
USCIS should come up with strategy like if you are in US for 'X' years and if your 485 pending for 'Y' years and if you own a house worth 'XXX$' , then they should give GCs irrespective of Category(Eb1,Eb2,Eb3,Eb4 etc..)
People who can buy houses are more important to USCIS/US than people who already have bought houses.
People who can buy houses are more important to USCIS/US than people who already have bought houses.
more...
sanagani
03-05 10:43 PM
Even though my priority date is 2005 dec under EB3 , i have one soft LUD on my and my dependentcaseon feb 10 amd one more soft LUD on primary applicant case on feb 27 09...
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soorigadu2003
07-11 09:46 AM
GREAT NEWS...
but why is USCIS website not showing Aug bulletin ?
but why is USCIS website not showing Aug bulletin ?
more...
aerady
05-09 05:40 PM
I have been a victim of this rule implemented by DMV. On Texas the rule is like this. If you have Visa validity embedded on your DL, you will get a letter before 'Valid till Date period' on DL to show proof of approved I-797. In TX your approved petition you need to satisfy two conditions (1) When you go to DMV office, your approved I-797 should have atleast 6 months validity (2) The period on your I-797 should be more than one year. If you disqualify on any of these, they will suspend your license until you show a I-797 that satisfies the above two conditions.
So, My case is like this:-
My TX driving license(Valid till 2017) was suspended by DMV when I went(I tried online but it didn't work) for address change on 5/8/2010 saying that I don�t have a H1B visa which is valid for more than 6 months (Valid till 10/26/2010 � approx 5 months and 20 days) at the time of my visit for Address change.
I quit driving after that and my employer applied for Visa extension and they got the visa approval from 10/27/2010 to 9/19/2011. I got the approved petition from USCIS on 2/15/2011.
I went to the DMV office on 2/16/2011 and again DMV denied me license saying that even though the visa is now valid for 8 months, the total period for which the visa I got is less than 1 year(10/27/2010 to 9/19/2011 =11 months)
I am on 6+ years on US and my employer is processing my green card. USCIS will give only 1 year or less increment H1B extension after the 6th year till I get my I-140 approved.
The USCIS processing time is 4 months to 6 months for visa extensions, which puts me in a loop like sometimes when I get the approved extension, I will not have 6 months validity from the time I receive the approved petition from USCIS OR USCIS may not give one full year extension.
I am literally stuck without driving for the last one year. I was driving in US from 2003 to 2010, I don't have any accident history, I pay taxes regularly and always been a good citizen, but see what I get back!
So, My case is like this:-
My TX driving license(Valid till 2017) was suspended by DMV when I went(I tried online but it didn't work) for address change on 5/8/2010 saying that I don�t have a H1B visa which is valid for more than 6 months (Valid till 10/26/2010 � approx 5 months and 20 days) at the time of my visit for Address change.
I quit driving after that and my employer applied for Visa extension and they got the visa approval from 10/27/2010 to 9/19/2011. I got the approved petition from USCIS on 2/15/2011.
I went to the DMV office on 2/16/2011 and again DMV denied me license saying that even though the visa is now valid for 8 months, the total period for which the visa I got is less than 1 year(10/27/2010 to 9/19/2011 =11 months)
I am on 6+ years on US and my employer is processing my green card. USCIS will give only 1 year or less increment H1B extension after the 6th year till I get my I-140 approved.
The USCIS processing time is 4 months to 6 months for visa extensions, which puts me in a loop like sometimes when I get the approved extension, I will not have 6 months validity from the time I receive the approved petition from USCIS OR USCIS may not give one full year extension.
I am literally stuck without driving for the last one year. I was driving in US from 2003 to 2010, I don't have any accident history, I pay taxes regularly and always been a good citizen, but see what I get back!
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485Mbe4001
06-10 11:50 AM
You make it sound like they care about you and are doing this slowly to get everybody on board, sorry to burst the bubble but chances are they were able to apply the right pressure at the right places and get this passed.
Fashion models and Sport personnel and EB-5 folks are few in numbers and will go unnoticed by their constituents. Other EB categories are comparatively huge. So I suppose that congress is treading carefully. If the bills does not go though the subcommittee and full ones, opponents will debate that the bill was sneaked in or piggy backed or pushed through. Hopefully something will emerge before the presidential elections. Lets not loose hope and try our best. Anything after the elections will be bound to be bogged down by CIR...
Fashion models and Sport personnel and EB-5 folks are few in numbers and will go unnoticed by their constituents. Other EB categories are comparatively huge. So I suppose that congress is treading carefully. If the bills does not go though the subcommittee and full ones, opponents will debate that the bill was sneaked in or piggy backed or pushed through. Hopefully something will emerge before the presidential elections. Lets not loose hope and try our best. Anything after the elections will be bound to be bogged down by CIR...
more...
ragz4u
03-15 08:59 AM
The link you have sent has listed Dirksen 224 as the venue on the top left, while in the middle it does say
The Executive Business Meeting scheduled by the Committee on the Judiciary, for Wednesday, March 15, 2006 at 9:00 a.m., will take place in Dirksen Room 226.
There is no audio link for rroom 224 on capitolhearings.org....does anyone have any idea on where else can we can the audio from?
The Executive Business Meeting scheduled by the Committee on the Judiciary, for Wednesday, March 15, 2006 at 9:00 a.m., will take place in Dirksen Room 226.
There is no audio link for rroom 224 on capitolhearings.org....does anyone have any idea on where else can we can the audio from?
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chanduv23
11-20 10:25 PM
In addition to my above post, one can be on h1b and keep getting h1b extensions and apply for consular processing instead of AOS.
more...
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slammer
07-11 07:09 AM
I couldn't believe this. Wonderful news. Thanks
Yes, you're right, for you it's really great news ! Congratulations !!!
Rita
Yes, you're right, for you it's really great news ! Congratulations !!!
Rita
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pappu
11-30 01:21 AM
Great work Jimi and the CA chapter members!
more...
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indio0617
03-09 11:13 AM
Senator Specter: Again calling on all Senators who are not in other commitees to turn up in this meeting
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Mouns
04-30 02:24 PM
Does anyone else have the same problem. The webcast is erroring out.. saying page not found .
It is 2.25 pm and I still can't access the webcast. It was working fine 1h ago or so...
It is 2.25 pm and I still can't access the webcast. It was working fine 1h ago or so...
more...
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andy garcia
10-01 03:10 PM
What is the relationship of 480K to 366K = 140K (EB) + 226 (FS)?
Very interesting that FS (EB) can capture EB (FS) but can not capture FS (EB)!
Worldwide Limits
(a) FS Preference Limitation:
The overall ceiling for relatives is 480,000, from which the previous year's total of immediate relatives and other family classes which are exempt from the numerical ceiling are deducted to determine the level of family-based preference immigration. Although the difference could be greater or less than 226,000, that figure is established as a minimum for the FS preference immigrant limitation.
Specifically, if such family-related numerically-exempt immigrants and parolees are fewer than 254,000, the family-sponsored preferences will be entitled to more than 226,000 in the following fiscal year. On the other hand, if such family-related numerically-exempt immigrants and parolees exceed 254,000, the FS preferences are still provided at least 226,000 numbers by virtue of the minimum annual limit assured by Sec. 201(c).
Very interesting that FS (EB) can capture EB (FS) but can not capture FS (EB)!
Worldwide Limits
(a) FS Preference Limitation:
The overall ceiling for relatives is 480,000, from which the previous year's total of immediate relatives and other family classes which are exempt from the numerical ceiling are deducted to determine the level of family-based preference immigration. Although the difference could be greater or less than 226,000, that figure is established as a minimum for the FS preference immigrant limitation.
Specifically, if such family-related numerically-exempt immigrants and parolees are fewer than 254,000, the family-sponsored preferences will be entitled to more than 226,000 in the following fiscal year. On the other hand, if such family-related numerically-exempt immigrants and parolees exceed 254,000, the FS preferences are still provided at least 226,000 numbers by virtue of the minimum annual limit assured by Sec. 201(c).
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AllVNeedGcPc
12-02 07:55 PM
9years thank you for sharing all the information during the whole process...
I got an email saying that "On December 2, 2010, we ordered production of your new card" today. Me and my wife both got emails. Our wait (green in our life) for so many years came to a very happy end. My hearty wishes to all the friends who have been waiting in the queue to have best of luck.
Regards.
I got an email saying that "On December 2, 2010, we ordered production of your new card" today. Me and my wife both got emails. Our wait (green in our life) for so many years came to a very happy end. My hearty wishes to all the friends who have been waiting in the queue to have best of luck.
Regards.
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srhari
07-14 01:27 PM
here is my response thru my Bank Onlie pay
Immigration Voice
Immigration Voice
$ 5.00 07/18/2008 7Y9YG-2BT90
Please Help IV to help us
Thanks
Bestofall
PD-EB2 Mar 2005 India
AP-EAD received
Do you know how to pay online from my bank account? I checked the contributions page, but it discusses about paying through Paypal (and for $100+).
Immigration Voice
Immigration Voice
$ 5.00 07/18/2008 7Y9YG-2BT90
Please Help IV to help us
Thanks
Bestofall
PD-EB2 Mar 2005 India
AP-EAD received
Do you know how to pay online from my bank account? I checked the contributions page, but it discusses about paying through Paypal (and for $100+).
chmur
01-06 12:57 PM
what matters more , IMHO, is some of the basic skills like motivation, hunger for goal, work ethic, stress management etc which typically is categorized as life skills. Which are not teachable.
Immigrants have these in plenty, that probably explains why a graduate from village school in India, can kick ass in a duke and later succeed at work too.
Education helps, quality education starts one off with advantage. But that's about it...life is marathon not a 4-6 year sprint @ universities.
These studies by wadhwa and co should start looking at these and not just patents , quality of education etc .
,
Immigrants have these in plenty, that probably explains why a graduate from village school in India, can kick ass in a duke and later succeed at work too.
Education helps, quality education starts one off with advantage. But that's about it...life is marathon not a 4-6 year sprint @ universities.
These studies by wadhwa and co should start looking at these and not just patents , quality of education etc .
,
gaz
09-10 12:20 AM
the construction boom has seen some upward movement in the lower classes also. try finding an electrician or plumber in any big city in India to do some small chore.
also remember that the big cities (Mumbai, Delhi, Chennai, Hyd/Secunderabad, NOIDA, Guragaon etc. and satellite areas) are seeing the huge rise in prices. These also coincide with the centers of tremendous progress and huge purchase power for people. Smaller cities also have a hike in prices but nothing comparable. So the average Indian does not really get affected a lot. The average city dweller is either renting by paying a ton of money or is spending a ton of money for a house. Scary thing is either ways they are able to afford it. Makes the US salary seem meaningless in comparison (comparing quality of life here and not just money).
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
also remember that the big cities (Mumbai, Delhi, Chennai, Hyd/Secunderabad, NOIDA, Guragaon etc. and satellite areas) are seeing the huge rise in prices. These also coincide with the centers of tremendous progress and huge purchase power for people. Smaller cities also have a hike in prices but nothing comparable. So the average Indian does not really get affected a lot. The average city dweller is either renting by paying a ton of money or is spending a ton of money for a house. Scary thing is either ways they are able to afford it. Makes the US salary seem meaningless in comparison (comparing quality of life here and not just money).
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
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