CIOL Article on Owning a house in Bangalore!

Click on the link (above title) to read thru the article... My opinion goes on the same line as this article... Adding more to this, I can tell that by the end 0f the day, it is we, the middle class (real) Bangaloreans who suffer...Even though I am in IT industry I will say this... By god's grace, 2 years back, I bought a independent house in one of the good old locality of Bangalore...this was one of my dream, a dream to fulfill the dream of my parents! Now I pay 50% of my take-home pay towards the home loan!!! The time I purchased the house was the time when the landprices were rising day after day...to give a picture, when I bought, the landprice in my current locality was Rs.1300/- per sq.ft...now, after just 2 years, it is Rs. 3000~3500/- per sq. ft!! Now imagine, could my parents, hailing from a very much middle class family and having 2 children to take care afford to buy a house at this rate?? Am not boasting that I have bought but given the current scenario, there are lot of families like mine who cannot afford to buy...all coz of this damn north bound sky-high unrealastic land prices!!

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