Gautam John [25/10/08 23:32 +0530]:
On Sat, Oct 25, 2008 at 8:54 PM, Srini Ramakrishnan <[EMAIL PROTECTED]> wrote:
I don't think Indians digest bad news as easily as the rest of the world,
everyone seems to be pinning their hopes on a good Diwali.
From what I've heard, property prices are set to tumble post Diwali.
I keep hearing rumors about an interest rate cut. No matter, I bought my
apartment (2bhk in Adyar - a rather nice part of town) for INR 2 million,
back in 2002/03, and similar apartments are selling for ~ 5 times that much
now in this part of town. And interest rates for my loan have gone up from
8.75% back then to 11% now.
So, if property prices tumble I have incentive to wait till prices
stabilize and then buy a bigger apartment - which I do need - and to see
about closing my old loan early (if I keep making normal payments I still
have about 10 years or so left to pay it)
srs
