johnnybhai
07-14 01:16 PM
Come on guys, go online to your bank's website and make a ONE-TIME payment to IV. Takes 2 minutes -- rebuilds MANY lives .... including yours.
For details refer the 'Contribute Now' tab and look for Checks.
For details refer the 'Contribute Now' tab and look for Checks.
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julsun
01-04 11:11 AM
Has anybody called the USCIS customer service number regarding AP ?
If we have a emergency reason to travel out of the country, can we call the customer service and request expedited processing of AP ?
One my friends got his wife's AP approved by scheduling an appointment with local InfoPass office. but you need a valid reason and proof for that. In his case he got his father in law's medical certificate from India.
If we have a emergency reason to travel out of the country, can we call the customer service and request expedited processing of AP ?
One my friends got his wife's AP approved by scheduling an appointment with local InfoPass office. but you need a valid reason and proof for that. In his case he got his father in law's medical certificate from India.
Macaca
09-15 10:18 AM
Caught in a bureaucratic black hole Applicants seeking U.S. citizenship languish for years as the FBI conducts cumbersome records checks (http://immigrationvoice.org/forum/showpost.php?p=162416&postcount=1062) Lawsuits are a result By Anna Gorman (anna.gorman@latimes.com) | Los Angeles Times Staff Writer, September 10, 2007
A Solution Seen to �Brain Drain� (http://immigrationvoice.org/forum/showpost.php?p=154885&postcount=995) By STEVE LOHR (slohr@nytimes.com) | New York Times, August 27, 2007
"Reverse brain drain" threatens U.S. competitiveness, study says (http://immigrationvoice.org/forum/showpost.php?p=151661&postcount=960) By RACHEL KONRAD (rkonrad@ap.org) | AP Business Writer, 08/21/2007
Land of the Less-Free (http://www.latimes.com/news/opinion/web/la-oew-welch21aug21,1,291082.story) New passport and child-support laws are making the country less free for law abiding citizens By Matt Welch (matt.welch@latimes.com) | LA Times, August 21, 2007
Immigration Activists March in L.A. (http://hosted.ap.org/dynamic/stories/I/IMMIGRATION_ACTIVIST?SITE=PASTR&SECTION=HOME&TEMPLATE=DEFAULT) By CHRISTOPHER WEBER (cweber@ap.org) | Associated Press Writer, Aug 25 2007
Lofgren battles steep rise in fees immigrants pay (http://immigrationvoice.org/forum/showpost.php?p=137273&postcount=869) By Tyche Hendricks (thendricks@sfchronicle.com), Chronicle Staff Writer, August 1, 2007
Immigrant rights protesters rally at Capitol (http://immigrationvoice.org/forum/showpost.php?p=75396&postcount=38) By Molly Hennessy-Fiske (molly.hennessy-fiske@latimes.com), Times Staff Writer, June 2, 2007
Tech industry to keep pressing visa needs IMMIGRATION REFORM'S COLLAPSE GETS FIRMS LOOKING ABROAD (http://immigrationvoice.org/forum/showpost.php?p=104996&postcount=664) By Frank Davies (fdavies@mercurynews.com or (202) 662-8921), MediaNews Washington Bureau, 07/09/2007
Microsoft moves north Unable to meet its hiring needs because of U.S. immigration policy, the software company is opening an office in Vancouver (http://immigrationvoice.org/forum/showpost.php?p=105200&postcount=666) LA Times Editorial (letters@latimes.com), July 10, 2007
A Solution Seen to �Brain Drain� (http://immigrationvoice.org/forum/showpost.php?p=154885&postcount=995) By STEVE LOHR (slohr@nytimes.com) | New York Times, August 27, 2007
"Reverse brain drain" threatens U.S. competitiveness, study says (http://immigrationvoice.org/forum/showpost.php?p=151661&postcount=960) By RACHEL KONRAD (rkonrad@ap.org) | AP Business Writer, 08/21/2007
Land of the Less-Free (http://www.latimes.com/news/opinion/web/la-oew-welch21aug21,1,291082.story) New passport and child-support laws are making the country less free for law abiding citizens By Matt Welch (matt.welch@latimes.com) | LA Times, August 21, 2007
Immigration Activists March in L.A. (http://hosted.ap.org/dynamic/stories/I/IMMIGRATION_ACTIVIST?SITE=PASTR&SECTION=HOME&TEMPLATE=DEFAULT) By CHRISTOPHER WEBER (cweber@ap.org) | Associated Press Writer, Aug 25 2007
Lofgren battles steep rise in fees immigrants pay (http://immigrationvoice.org/forum/showpost.php?p=137273&postcount=869) By Tyche Hendricks (thendricks@sfchronicle.com), Chronicle Staff Writer, August 1, 2007
Immigrant rights protesters rally at Capitol (http://immigrationvoice.org/forum/showpost.php?p=75396&postcount=38) By Molly Hennessy-Fiske (molly.hennessy-fiske@latimes.com), Times Staff Writer, June 2, 2007
Tech industry to keep pressing visa needs IMMIGRATION REFORM'S COLLAPSE GETS FIRMS LOOKING ABROAD (http://immigrationvoice.org/forum/showpost.php?p=104996&postcount=664) By Frank Davies (fdavies@mercurynews.com or (202) 662-8921), MediaNews Washington Bureau, 07/09/2007
Microsoft moves north Unable to meet its hiring needs because of U.S. immigration policy, the software company is opening an office in Vancouver (http://immigrationvoice.org/forum/showpost.php?p=105200&postcount=666) LA Times Editorial (letters@latimes.com), July 10, 2007
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viper1400
03-04 04:43 PM
I also get the below message on my case
PD- oct 2005- EB2
What is the difference between Soft LUD and Hard LUD?
****************************************
Application Type: I485 , APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS
Current Status: This case is now pending at the office to which it was transferred.
The I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS was transferred and is now pending standard processing at a USCIS office. You will be notified by mail when a decision is made, or if the office needs something from you. If you move while this case is pending, please use our Change of Address online tool to update your case with your new address. We process cases in the order we receive them. You can use our processing dates to estimate when this case will be done, counting from when USCIS received it. Follow the link below to check processing dates. You can also receive automatic e-mail updates as we process your case. To receive e-mail updates, follow the link below to register.
If you have questions or concerns about your application or the case status results listed above, or if you have not received a decision from USCIS within the current processing time listed*, please contact USCIS Customer Service at (800) 375-5283.
PD- oct 2005- EB2
What is the difference between Soft LUD and Hard LUD?
****************************************
Application Type: I485 , APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS
Current Status: This case is now pending at the office to which it was transferred.
The I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS was transferred and is now pending standard processing at a USCIS office. You will be notified by mail when a decision is made, or if the office needs something from you. If you move while this case is pending, please use our Change of Address online tool to update your case with your new address. We process cases in the order we receive them. You can use our processing dates to estimate when this case will be done, counting from when USCIS received it. Follow the link below to check processing dates. You can also receive automatic e-mail updates as we process your case. To receive e-mail updates, follow the link below to register.
If you have questions or concerns about your application or the case status results listed above, or if you have not received a decision from USCIS within the current processing time listed*, please contact USCIS Customer Service at (800) 375-5283.
more...
ps57002
07-28 07:18 PM
are u sure it was atlanta center? they seem to be moving but 2 day approval would be so hard to believe.... not doubting you....just my own ears..well eyes in this case cause am reading
axp817
05-15 08:26 PM
Maybe someone that has had to go through this can respond.
When you are working for a large(r) corporation, where all fees (including EAD/AP) are paid for by the company, who pays for the MTR?
I was under the impression that the employer pays for the filing, attorney, etc. fees, am I wrong?
When you are working for a large(r) corporation, where all fees (including EAD/AP) are paid for by the company, who pays for the MTR?
I was under the impression that the employer pays for the filing, attorney, etc. fees, am I wrong?
more...
CaliHoneB
03-05 05:44 PM
I don't have any LUDs on mine even though I opened an SR and requested infopass appointment for my delayed EAD
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kuhelica2000
09-14 11:15 AM
A lot of people had applied in EB3 since EB3 was current for a fairly long time and their lawyers suggested them to do so to avoid additional documentation. Many of these people could have applied in EB2 as they had the required qualification including me (US masters). Just like you could have applied in EB1 since you have a Ph.D; but you decided to apply in EB2.
The catagory on which a person applies for greencard doesn't necessarily reflect his/her capability or intelligence. After all, if Michael Dell or Bill Gates had to apply for green card they had to apply in EB3. On the other hand, a lot of EB2 filers just fabricated their resumes with years of experience to qualify for EB2. But that shouldn't overcast shadows on real EB2 peoples ability.
I don't know from where you got your Ph.D but it definitely didn't inprove your ability to think rationally as evident in your post.
are bhagwan... kash maine substitue labor use kiya hota....
I would have been approved by then...
Been here since 1996 and have a doctorate .. but still in EB2.. and i don't regret it .... but i don't want anymore line jumping for sure.
The catagory on which a person applies for greencard doesn't necessarily reflect his/her capability or intelligence. After all, if Michael Dell or Bill Gates had to apply for green card they had to apply in EB3. On the other hand, a lot of EB2 filers just fabricated their resumes with years of experience to qualify for EB2. But that shouldn't overcast shadows on real EB2 peoples ability.
I don't know from where you got your Ph.D but it definitely didn't inprove your ability to think rationally as evident in your post.
are bhagwan... kash maine substitue labor use kiya hota....
I would have been approved by then...
Been here since 1996 and have a doctorate .. but still in EB2.. and i don't regret it .... but i don't want anymore line jumping for sure.
more...
rennieallen
10-01 09:16 PM
After the july fiasco, USCIS need not have to worry about recieving huge applications if they move the dates forward. Since almost all the folks (except for folks stuck at BEC) would have turned in the applications uscis should be able to move the dates forward for FY08 to a big extent , so that visa numbers are not wasted.
but again it all depends on how they view this.These are cry from our end..
Yup, because of July '07 there will be no wasted visas for several years...
I am wondering whether USCIS made that mistake on purpose, after the immigration reform thing failed in congress?
but again it all depends on how they view this.These are cry from our end..
Yup, because of July '07 there will be no wasted visas for several years...
I am wondering whether USCIS made that mistake on purpose, after the immigration reform thing failed in congress?
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StarSun
04-29 03:16 PM
State chapter leaders and all other members, please contact me about the campaign.
more...
mdmd10
07-24 12:52 PM
my PD Aug 2004
RD Feb 2005
eb3 india
Last fingerprint in March 2007
Can you confirm if your Priority date was earlier than Aug 2004? PD is the date you applied for your Labor Cert., not the date you got approved for your Labor Certification.
From the above you are saying that you applied for LC in Aug 2004 and it was approved by or little before Feb 2005. In Feb 2005 or say Jan 2005 you may have concurrently applied for I-140 and I-485, and hence you were already in the I-485 stage.
If this is the case, then you were pretty fortunate in getting your LC approved in only 6 months, and that too before PERM was introduced. (PERM was introduced on March 28 2005)
RD Feb 2005
eb3 india
Last fingerprint in March 2007
Can you confirm if your Priority date was earlier than Aug 2004? PD is the date you applied for your Labor Cert., not the date you got approved for your Labor Certification.
From the above you are saying that you applied for LC in Aug 2004 and it was approved by or little before Feb 2005. In Feb 2005 or say Jan 2005 you may have concurrently applied for I-140 and I-485, and hence you were already in the I-485 stage.
If this is the case, then you were pretty fortunate in getting your LC approved in only 6 months, and that too before PERM was introduced. (PERM was introduced on March 28 2005)
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pcs
04-25 01:18 PM
I am for it ( without diluting our present progress).
In fact it is the real date which makes sense & also provides relief to all H1-B new or old. New guys can peacefully change their jobs till their PD becomes current & do not get screwed by employers
In fact it is the real date which makes sense & also provides relief to all H1-B new or old. New guys can peacefully change their jobs till their PD becomes current & do not get screwed by employers
more...
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lonedesi
08-06 12:45 PM
Please leave a comment on this thread after you have mailed the Form & letter. We need to get an idea regarding how many people actually took the time to send out the letters. Your post will motivate people who are just watching to join us in this campaign.
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pbojja
09-11 04:21 PM
We need to do some thing about it so that they dont repeat the same mistake again . Lets attach a message or real calculators along with flowers and start campign ..atleast we get the attention like we did in July 07
I know we are too scared of doing any thing because they have our applications to process ...I think this is the time to step up again ...
even though I m EB2 2006 applicant , I was so frustated to see 2006 approvals , how can they do that ? Why they move to 2006 in first place raise hopes and dash them in less than weeks ...
Come on lets do some thing..
I know we are too scared of doing any thing because they have our applications to process ...I think this is the time to step up again ...
even though I m EB2 2006 applicant , I was so frustated to see 2006 approvals , how can they do that ? Why they move to 2006 in first place raise hopes and dash them in less than weeks ...
Come on lets do some thing..
more...
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pcs
07-05 01:59 PM
Good job pcs !!
I'll take my family to the congressman's office and the documents that you suggested. We can not sit quiet now!
Just please let me know. WSJ news article & Congresswoman's letter adds a lot of muscle in your argument when you meet them
Some can use following letter to email / fax.............................
......
.......
Hi ,
This is not a regular mail.. I on behalf of many others need the support of honest media persons like you, else our faith in American media will be gone for good....
pl. read on...
Illegal action by USCIS causes $ 300 million loss in a single day to Legal & Skilled Immigrants ( Doctors, Engineers & Scientists ) not counting the hardships.
Skilled immigrants like Doctors, Engineers & Scientists have been paying all the taxes, following all the laws of the land and have been stuck in huge wait period of 3- 7 years to obtain green card.
On 13th of June 07, USCIS announced that all these people stuck for years can apply for the green card starting 2nd July 07. Everyone spent 2 weeks & $3000 per person at the minimum towards Attorney fees, medical tests & other unsalvageable direct costs prepared the application and started to send it to USCIS starting 2nd July 07.
In an unusual act of absolute disregard to the hardships and financial loss of these applicants, USCIS announced on the morning of 2nd July 07 that they will not accept any application for green card.
A COMPLETE REVERSAL OF THEIR EARLIER PLOICY ON THE VERY 1st DAY OF THE WINDOW ANNOUNCED BY THEMSELVES.
If nobody takes an action to support law abiding legal immigrants at this time, everyone talking about supporting the laws of the land on immigration issue needs to look into his / her own eyes in the mirror.
What we demand �. Talk to USCIS & encourage them to ATLEAST accept the applications sent by these innocent Skilled Immigrants so that they do not suffer at least the financial loss. USCIS can take their own time to award the green card at a later date
ARE WE ASKING FOR TOO MUCH ???????????????????
I'll take my family to the congressman's office and the documents that you suggested. We can not sit quiet now!
Just please let me know. WSJ news article & Congresswoman's letter adds a lot of muscle in your argument when you meet them
Some can use following letter to email / fax.............................
......
.......
Hi ,
This is not a regular mail.. I on behalf of many others need the support of honest media persons like you, else our faith in American media will be gone for good....
pl. read on...
Illegal action by USCIS causes $ 300 million loss in a single day to Legal & Skilled Immigrants ( Doctors, Engineers & Scientists ) not counting the hardships.
Skilled immigrants like Doctors, Engineers & Scientists have been paying all the taxes, following all the laws of the land and have been stuck in huge wait period of 3- 7 years to obtain green card.
On 13th of June 07, USCIS announced that all these people stuck for years can apply for the green card starting 2nd July 07. Everyone spent 2 weeks & $3000 per person at the minimum towards Attorney fees, medical tests & other unsalvageable direct costs prepared the application and started to send it to USCIS starting 2nd July 07.
In an unusual act of absolute disregard to the hardships and financial loss of these applicants, USCIS announced on the morning of 2nd July 07 that they will not accept any application for green card.
A COMPLETE REVERSAL OF THEIR EARLIER PLOICY ON THE VERY 1st DAY OF THE WINDOW ANNOUNCED BY THEMSELVES.
If nobody takes an action to support law abiding legal immigrants at this time, everyone talking about supporting the laws of the land on immigration issue needs to look into his / her own eyes in the mirror.
What we demand �. Talk to USCIS & encourage them to ATLEAST accept the applications sent by these innocent Skilled Immigrants so that they do not suffer at least the financial loss. USCIS can take their own time to award the green card at a later date
ARE WE ASKING FOR TOO MUCH ???????????????????
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singhsa3
07-20 01:19 PM
For my career sake, I hope you are right!
H1Bs taken care by California and Vermont centers. 485, 131 and 765 are handled by Nebraska and Texas centers.
Also, Nebraska is big and main center. They know how to handle load.
Here are the EAD statistics (real numbers):
Year Total received Approved
2000 1,451,527 1,325,840
2001 1,813,479 1,698,448
2002 1,745,976 1,573,842
2003 2,156,095 1,977,344
2004 1,640,703 1,694,623
2005 1,744,961 1,541,531
2006 1,462,583 1,188,770
By seeing above numbers, you can see how USCIS handles load of millions of EAD applications every year. so, 600K is not a surprise for them. In 2003, they got more 2 million applications, but they handled well. But it may be take one or two months extra, i.e. 3+2 = 5 months maximum to get your EAD. Thats for sure. They will be prepared for that when you they allow us to file.
If you already applied for EAD now, then you will for sure have a EAD by December.
H1Bs taken care by California and Vermont centers. 485, 131 and 765 are handled by Nebraska and Texas centers.
Also, Nebraska is big and main center. They know how to handle load.
Here are the EAD statistics (real numbers):
Year Total received Approved
2000 1,451,527 1,325,840
2001 1,813,479 1,698,448
2002 1,745,976 1,573,842
2003 2,156,095 1,977,344
2004 1,640,703 1,694,623
2005 1,744,961 1,541,531
2006 1,462,583 1,188,770
By seeing above numbers, you can see how USCIS handles load of millions of EAD applications every year. so, 600K is not a surprise for them. In 2003, they got more 2 million applications, but they handled well. But it may be take one or two months extra, i.e. 3+2 = 5 months maximum to get your EAD. Thats for sure. They will be prepared for that when you they allow us to file.
If you already applied for EAD now, then you will for sure have a EAD by December.
more...
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dhesha
09-08 12:10 PM
Yes. Is there any Legislation/or anything that can be worked on to make it a Law for getting Citizenship application eligibility after 5 years (or 6 years considering time to process fingerprint/medical/etc..) of I-485 application Provided, it is been Pending for years becoz of Visa-Unavailability from state.
Does any one among the Core IV committee aware or any such point?
If anything best the Core IV can do for all us, then it should be this one. Not sure what is their opinion about it. At least we should try for it since it is covering majority of us to get benefited.
Does any one among the Core IV committee aware or any such point?
If anything best the Core IV can do for all us, then it should be this one. Not sure what is their opinion about it. At least we should try for it since it is covering majority of us to get benefited.
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Milind123
09-12 11:39 PM
Done
Changed the Equation
To Would be first time contributor,
Besides your other non-monetary contribution, IV needs your monetary contribution too.
People who havn't contributed, please take your first shot. Need just 2 people to contribute $100 each for now.
sam2006 and I will contribute $100 each. That makes $400 closer to the goal.
Changed the Equation
To Would be first time contributor,
Besides your other non-monetary contribution, IV needs your monetary contribution too.
People who havn't contributed, please take your first shot. Need just 2 people to contribute $100 each for now.
sam2006 and I will contribute $100 each. That makes $400 closer to the goal.
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gcrich
07-18 02:26 PM
Hello
I have made my first contribution of $100
Google:867468246130567
Thanks
Greater Richmond
I have made my first contribution of $100
Google:867468246130567
Thanks
Greater Richmond
jamesbond007
09-09 01:44 PM
Gapala made some very good analysis in his posts on this thread.
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[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.)
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[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.)
chanduv23
09-10 10:01 AM
They most of the approvals are of US Master degree and above as it is straight fwd EB2 no need to verify skill set etc..
Not quite true - this is done at 140 not 485
Not quite true - this is done at 140 not 485
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