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Vastu Shastra (vāstu śāstra, also Vastu Veda,
"science of construction", "architecture") is a traditional Hindu system of design based on directional alignments. It is primarily applied in Hindu architecture, especially for Hindu temples,,
although it covers other applications, including poetry, dance, sculpture, etc. The foundation of Vastu is traditionally ascribed to the mythical sage Mamuni Mayan.
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Architecture and Design Architecture is both the process and product of planning, designing and constructing space that reflects functional, social, and aesthetic considerations. It requires the manipulation and
coordination of material, technology, light, and shadow. Architecture also encompasses the pragmatic aspects of realizing designed spaces, such as project planning, cost estimating and construction
administration. A wider definition may comprise all design activity from the macro-level (urban design, landscape architecture) to the micro-level (construction details and furniture). In fact,
architecture today may refer to the activity of designing any kind of system and is often used in the IT world.
The principal information provided in set of house drawings are as follows: Site plans are drawn to show the location of a home on the property in its context. It is an overhead
view of the construction site and the home as it sits in reference to the boundaries of the lot. Site plans should outline location of utility services, setback requirements, easements, location of
driveways and walkways, and sometimes even topographical data that specifies the slope of the terrain. A floor plan is an overhead view of the completed house. You'll see parallel
lines that scale at whatever width the walls are required to be. Dimensions are usually drawn between the walls to specify room sizes and wall lengths.
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The origins of Indian Property Market Bubble can be traced to the interest rate reductions made by the NDA coalition government in the years following 2001. Home Loan Rates fell to a (then) historical lows of 7.5% in early 2004. This prepared the basis for the massive increase in real estate property prices across India. Low interest rates triggered huge interest in individuals to borrow to own their own homes and this triggered an increase in demand for real estate across India. The Indian Property Market has been growing fast since March 2005, when the current UPA government decided to open FDI in Real Estate. The market has been growing at a dizzying rate of 100%+,and further[citation needed] |
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Real estate in Indian metropolises such as Mumbai, Gurgaon and Chennai has sky rocketed to levels comparable with international cities like London. One remarkable point is the real-estate boom in Chennai and its suburbs, leading to high prices in decent housing and then finally prices dropped. For example, an apartment of 1500 square foot in a Chennai suburb will cost around USD 200,000, whereas in Europe similar size costs about USD 450,000. In a class A suburb of New York you can buy a large house for around same amount (450K). Per capita ratio is around 50:1 ($50,000 to $1100); this suggests the presence of a bubble. However, speculations aside housing prices depend a lot on various factors such as the age of the property, facilities, surrounding area etc. Hence, the property bubble will burst for the places bought over priced with no stronghold value to it. |
Contra argument to this is US prices should ideally move with economy/inflation rate of 2-3% while Indian prices will gallop at the rate of 10% a year and probably more as the land distribution market is inefficient.
By its very definition a bubble is a short term phenomenon while Indian real estate market has continued on a secular upward trend, apart from periodic adjustments, in the last 10 years. Bear in mind that there are almost 400 million Indians waiting to hit the middle class group and they will exert additional pressure on the system. Affordability is the most important factor when it comes to housing prices and middle class housing is much levels of affordability in most of the major cities in India. People who compare India with developed European cities, forget the huge difference in affordability in both areas. Of course there is a huge demand for housing but they can only buy what they can afford.
One of the big problem of real-estate market is that supply lags behind demand by about 5 years (Plan-Approve-Finance-Construct time).
Lack of efficient signals to market participants means that there will be periods of mismatch between suppliers and buyers hence leading to cycles of booms and busts.
As of May 1st 2008, the Indian housing market has already started declining. Prices have started to drop to some extent in few major cities.
A many websites have also come up where you can get the latest updates. In India due to high salaries in some sectors esp IT sectors and demand from NRIs housing prices are inflated.Even a high earning professional is finding it difficult to get a house in decent localities in the metros.