Property as an Investment.
There is a seven floored Shobha on the way to my wife's office. The apartments are ready to occupy and there are very few occupants. It has been this way from at least a year. I have been seeing at least 5 to-let boards on completed/old commercial complexes from the last six months in the vicinity of my house. Close to 50% of the new stores, shops that had come up in the last 6 months have closed. Sweet vendors, cloth stores, stationary shop etc. One of them told me that the business was not good and he could not afford the rent. The Business in general has not been good. But how then, have the real-estate prices been holding up? Black money. Most of real-estate business runs on black money, the kind of money that did not expect returns anyway. It (black money) was parked under beds and pillow covers it is now standing as a building. And the real-estate Mafia, it appears to me, is holding the real-estate prices, artificially. The impression that most of us get when go our