Islamabad — a city only for the rich?

[ziaulislam]

govt killed the mushi govt era i15, meant to bring middle class in islamabad.
surprisingly PML N alos ignored the projected for the poor and midle clasas

 

[Contrarian]

Actually that's pretty cheap when compared to Lahore too, but it should be for a small city of its size. What's the average cost you get for 605 sq yards in one of the good areas in major Indian cities?

For a 600 sq yard plot in South Delhi, the average price should be Rs 40-50 crore INR. So probably around double that in terms of PNR - maybe 80-100 crore PNR

And I dont even want to think what it would be in Bombay. I doubt you would even find a plot in Bombay except for a couple of places which are owned by business tycoons. You would probably only get a flat in Bombay.

Well it depends on location
I live in a 500 Sq yard house in the outskirts of New Delhi and it cost my family around 5 Crore INR OR 600000 USD
A similarly sized house in Lutyen's Zone of New Delhi will cost 10 times that amount, only because Lutyen is a vip area home to the PM, CM, President of Congress, BJP and India

The cheapest proper bungalow in Lutyens is 150 crores INR

 

[krash]

For a 605 sq. yard (approx 5500 sq. feet) apartment (no plots here) in a good neighbourhood in Bombay, you'd pay anywhere between 300 and 400 million Indian rupees, which today, amounts to 531+ million Pakistani rupees.

For a 600 sq yard plot in South Delhi, the average price should be Rs 40-50 crore INR. So probably around double that in terms of PNR - maybe 80-100 crore PNR

And I dont even want to think what it would be in Bombay. I doubt you would even find a plot in Bombay except for a couple of places which are owned by business tycoons. You would probably only get a flat in Bombay.


The cheapest proper bungalow in Lutyens is 150 crores INR

Well it depends on location
I live in a 500 Sq yard house in the outskirts of New Delhi and it cost my family around 5 Crore INR OR 600000 USD
A similarly sized house in Lutyen's Zone of New Delhi will cost 10 times that amount, only because Lutyen is a vip area home to the PM, CM, President of Congress, BJP and India

50 crore, 100 crore, 150 crore! That is expensive. 600,000 USD sounds about right for a good 605 sq yard house in the posh areas of Lahore, say where Nawaz's and his families houses are.

Why are property prices so high in India? And how then do Indian cities make it to the list of 'cheapest cities to live in' lists? This is insanity!

Wrong information, even a 10 marla plot in bahria in a good Phase costs 10m rupees and kanal costs some 150m rupees where did this 1m rupee in Islamabad came from? you can't even buy a new car in 1m. In Islamabad a 10 marla plot costs 2crore+ depends on location...buying a kanal house in Islamabad would cost you 45m-60m rupees that is not cheap.

You're saying that a kanal costs 15 crore rupees in bahria town?


Am I converting the metric units to our local ones wrong?

 

[SarthakGanguly]

50 crore, 100 crore, 150 crore! That is expensive. 600,000 USD sounds about right for a good 605 sq yard house in the posh areas of Lahore, say where Nawaz's and his families houses are.

Why are property prices so high in India? And how then do Indian cities make it to the list of 'cheapest cities to live in' lists? This is insanity!

It truly is 'insanity'

 

[arushbhai]

50 crore, 100 crore, 150 crore! That is expensive. 600,000 USD sounds about right for a good 605 sq yard house in the posh areas of Lahore, say where Nawaz's and his families houses are.

Why are property prices so high in India? And how then do Indian cities make it to the list of 'cheapest cities to live in' lists? This is insanity!



You're saying that a kanal costs 15 crore rupees in bahria town?


Am I converting the metric units to our local ones wrong?

Nawaz sharif has a family home in raiwind where property price is really low because its outside the city. Nawaz sharif also has his own personal house in model town where the prices are lower than Gulberg or defence. Not sure why people have a habit of dragging nawaz sharif into everything.

 

[Contrarian]

50 crore, 100 crore, 150 crore! That is expensive. 600,000 USD sounds about right for a good 605 sq yard house in the posh areas of Lahore, say where Nawaz's and his families houses are.

Why are property prices so high in India? And how then do Indian cities make it to the list of 'cheapest cities to live in' lists? This is insanity!

It is insanity. Property prices are high because there was a massive development boom from 2000 to 2010, coupled with black money being parked in land.

Cheapest cities to live in is because the rents are still low and prices of essential commodities is low. If you understand the concept of 'yield' - that means rent per year/cost of house in purchase. Yield in India is probably one of the lowest in the world - that means buying a house is disproportionately more expensive than renting it - compared to other countries like Pakistan, China, USA, etc.

 

[krash]

It is insanity. Property prices are high because there was a massive development boom from 2000 to 2010, coupled with black money being parked in land.

Cheapest cities to live in is because the rents are still low and prices of essential commodities is low. If you understand the concept of 'yield' - that means rent per year/cost of house in purchase. Yield in India is probably one of the lowest in the world - that means buying a house is disproportionately more expensive than renting it - compared to other countries like Pakistan, China, USA, etc.

Yeah I've read about the old rent ceilings (price ceilings) still enforced in Mumbai. Politicians never want to remove them fearing backlash from the public and so landlords just stop maintaining their properties resulting in good apartments turning into slum like areas. The prof told us that you could rent a two bedroom apartment for $20/ month in some places in Mumbai, don't know how much of this was exaggerated.

Nawaz sharif has a family home in raiwind where property price is really low because its outside the city. Nawaz sharif also has his own personal house in model town where the prices are lower than Gulberg or defence. Not sure why people have a habit of dragging nawaz sharif into everything.

I was talking about Model Town where all the rest of his extended family lives as well. And plot prices in Model Town have always been equal to or greater than in defence, depending on where in defence are you comparing the price from, e.g. You can get a kanal in phase 5 for 1.25 to 1.5 crore right now while in Model Town its 2.75 to 3 crores. In Gulberg as well it depends on the location of the plot, on the Main Boulevard it would probably be the most expensive property in Lahore, at other places its cheaper than defence and Model Town. Prices in Model Town also fluctuate with the location but with less standard deviation and are more homogeneous.

Nawaz's reference was given to let the other guy know what sort of an area I was talking about, he wouldn't know of Model Town otherwise.