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Old September 4th, 2007, 11:12 AM   #61
sudheeshnairs
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Guys, back to SSC after a looong Onam vacation & festivities...

Yes, NRI was the primary driver some time back for the apartment projects. Now what I see here is that the pattern is changing. Trivandrum can be said as the sole exception. Here our stats show that 60-70% professionals/locals and the remaining NRIs. BTW one thing, it need not be 'Techies' alone. For example professionals in service and other related sectors (perhaps like me, Ajay, etc)too buy these apartments. My classmate for MBA who is working as a Manager in Unilever in Kerala has bought two apartments in Cyber Palms. Same with Ajay, he too is not an IT guy.

The age group has also come down, earlier it was people in the 40-45 age bracket who were buying apartments, now we have buyers from 25 yrs onwards (Mostly Technopark guys).

NRI also do play an important part, mostly they prefer bigger apartments, say 4 bed units, which they could give on rent to corporates. Corporates always prefer larger apartments.

Quote:
Originally Posted by sanjupalayat View Post
I think on that we will hav to refer to our mod, as he is into this business... heard that 60 to 70% of booking in skyline cyber palms came from techi's working in technopark...and not NRI's......mod plz respond to this.....
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Old September 4th, 2007, 07:01 PM   #62
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Hmm thanne? But I dont think its the same at kakkanad. Its a bit away from the city. Also infopark is very small when compared to technopark. So the apartment coming there will be used as investment by NRIs (atleast for now).

Out of the 20000 "techies" in technopark most of them are low earners. I dont think they can even dream about such apartments. Glad to know there are many like sudheesh and ajay at tvm who can "compete" with NRIs to get those apartments. I dont think it is the situation at kakkanad. But also we cannot forget its kochi which actually started the highrise apartment culture in kerala. In the last decade when only very few such apartments were present in other kerala cities kochi had lot of them.
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Old September 4th, 2007, 07:50 PM   #63
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What is the % of buyers who do not avail a bank loan ?

Welcome back to the forum . Hope you had a great time celebrating Onam.

What is the % of buyers who do not take a bank loan ? What % of NRIs take a bank loan ? I believe it will be low since they do not get a tax benefit on home loan interest. I think that fixed interest on long term loans are only fixed for 2 years max. Am I right ? Please do comment Sudheesh.
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Old September 4th, 2007, 08:07 PM   #64
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What is a techie's ( with 5 years experience) 'take home' salary at technopark ?

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Originally Posted by kidu View Post
Out of the 20000 "techies" in technopark most of them are low earners. .
I have asked several people this question, but got several numbers like 40k -100k monthly for the same experience and qualifications at the same place. These are the 'take home' numbers ie after all the taxes and deductions.
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Old September 4th, 2007, 08:20 PM   #65
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Quote:
Originally Posted by hkaran07 View Post
I have asked several people this question, but got several numbers like 40k -100k monthly for the same experience and qualifications at the same place. These are the 'take home' numbers ie after all the taxes and deductions.
I can't agree with that, coz i'm a software professional with so many friends in technopark. The salaries in that range being paid for a < 1000 professionals in total 20000 (approx, including BPO). Most of them are middle or upper middle class from all over kerala, having a home in native. Among them a 10-12% (max 120 nos)may be willing to buy a flat in Trivandrum.
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Old September 4th, 2007, 09:12 PM   #66
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Yea you are correct RKPV. I know many ppl working at technopark. Only a small percentage gets such glamorous salaries.
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Old September 4th, 2007, 09:27 PM   #67
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Quote:
Originally Posted by kidu View Post
Hmm thanne? But I dont think its the same at kakkanad. Its a bit away from the city. Also infopark is very small when compared to technopark. So the apartment coming there will be used as investment by NRIs (atleast for now).

Out of the 20000 "techies" in technopark most of them are low earners. I dont think they can even dream about such apartments. Glad to know there are many like sudheesh and ajay at tvm who can "compete" with NRIs to get those apartments. I dont think it is the situation at kakkanad. But also we cannot forget its kochi which actually started the highrise apartment culture in kerala. In the last decade when only very few such apartments were present in other kerala cities kochi had lot of them.
Techies usually buy 2 bhk apartments while NRIs prefer big 3 bhk/4bhk/pent houses. Most of the projects near Technopark keep an average ratio of 2:1:1 [2bhk:3bhk:4bhk]

The techies who are working in TVM do have higher savings compared to their counterparts in BGLR or Chennai due to low cost of living...

if u think people getting 40k+ salaries is < 1000... its simply not true... my younger brother having 3 yrs exp gets around 50K.. and so does most of his colleagues... Do note that technopark has comparatively less # of BPOs..
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Old September 5th, 2007, 06:49 AM   #68
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Thats rite Robin. Technopark has many people who earn fat salaries and we can see many guys from other districts settling down here thanks to the infrastructure, amenities which you don't find anywhere else in Kerala

Quote:
Originally Posted by robin_a_p View Post
Techies usually buy 2 bhk apartments while NRIs prefer big 3 bhk/4bhk/pent houses. Most of the projects near Technopark keep an average ratio of 2:1:1 [2bhk:3bhk:4bhk]

The techies who are working in TVM do have higher savings compared to their counterparts in BGLR or Chennai due to low cost of living...

if u think people getting 40k+ salaries is < 1000... its simply not true... my younger brother having 3 yrs exp gets around 50K.. and so does most of his colleagues... Do note that technopark has comparatively less # of BPOs..
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Old September 5th, 2007, 08:16 AM   #69
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We should consider one more fact that the NRI population in Trivandrum and Kollam districts are comparatively less than Kochi,Kottyam,Kozhikode,Tsr, Kannur and Malappuram dists.
Then the percentage of NRI investments in those area in real estate, will be much higher than Tvm.

Last month, a person from reputed construction company (i think it was Mather) from kochi reveals on a TV show on Asianet that major % their booking are coming from NRI peoples from Kottayam,Pattanamthiita and few from NRI's from other districts , a few from techies and a few from others including real estate brokers
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Old September 5th, 2007, 09:24 AM   #70
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Quote:
Originally Posted by RKPV View Post
I can't agree with that, coz i'm a software professional with so many friends in technopark. The salaries in that range being paid for a < 1000 professionals in total 20000 (approx, including BPO). Most of them are middle or upper middle class from all over kerala, having a home in native. Among them a 10-12% (max 120 nos)may be willing to buy a flat in Trivandrum.
I would like to disagree on this one, RKPV. Technopark has mostly product and application development firms, which pay on the higher end of the spectrum. Even Technopark-based firms like UST, IBS, IVL and so on, are now matching or even beating the majors like TCS and Infosys, who are also at the Park. Many of the smaller firms are niche players and a large number are MNCs which have good packages.

You also fail to consider the fact that with the most engineering colleges in Kerala, Trivandrum also accounts for a significant number of the malayali IT professionals working outside Kerala and India. Many of the senior Keralite personnel in Indian and MNC IT firms, are alumni of the College of Engineering, Trivandrum - the state's oldest and premier engineering college. These expat IT personnel also invest heavily into Trivandrum. Many of them are now starting to come back to their city. Infy apparently has a looong waiting list for people to join its Trivandrum center.

Finally, one should also not fail to consider the people of the southern districts of Tamil Nadu who consider Trivandrum their gateway city. These folk have always had a close link to Travancore and then to Trivandrum, and even today prefer coming here and working here, to say, going all the way to Chennai or Coimbatore. With thousands of techies and NRIs, they also add a considerable punch!
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Old September 5th, 2007, 11:54 AM   #71
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Quote:
Originally Posted by Ajaypp View Post
I would like to disagree on this one, RKPV. Technopark has mostly product and application development firms, which pay on the higher end of the spectrum. Even Technopark-based firms like UST, IBS, IVL and so on, are now matching or even beating the majors like TCS and Infosys, who are also at the Park. Many of the smaller firms are niche players and a large number are MNCs which have good packages.

You also fail to consider the fact that with the most engineering colleges in Kerala, Trivandrum also accounts for a significant number of the malayali IT professionals working outside Kerala and India. Many of the senior Keralite personnel in Indian and MNC IT firms, are alumni of the College of Engineering, Trivandrum - the state's oldest and premier engineering college. These expat IT personnel also invest heavily into Trivandrum. Many of them are now starting to come back to their city. Infy apparently has a looong waiting list for people to join its Trivandrum center.
Ajay, i'm agreeing tease all other facts , but i'm just contradict with the statement 'most of the guys are getting 40k-100k per month as take home, in technopark'. and they are buying apartments

And one more fact that u left is- Trivandrum have the largest number of professional students studying/studied in engg colleges in all over kerala.
Normally, a mass number of professionals are available in tvm or willing to relocate from other places too.

Last edited by RKPV; September 5th, 2007 at 12:06 PM.
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Old September 5th, 2007, 12:08 PM   #72
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Quote:
Originally Posted by RKPV View Post
Ajay, i'm agreeing tease all other facts , but i'm just contradict with the statement 'most of the guys are getting 40k-100k per month as take home, in technopark'.

And one more fact that u left is- Trivandrum have the largest number of professional students studying/studied in engg colleges in all over kerala.
Normally, a mass number of professionals are available in tvm or willing to relocate from other places too.
RKPV - The question to which that was the answer, is the salary for people with 5 years or more of experience, not the average salary. And the answer is not too far off the mark. Even Indian companies now offer gross packages of 30-40K for professionals with 5+ years of exp.

Yes, you are correct that there is a very significant number of professionals willing to come back to or relocate to Trivandrum and Kerala as the opportunities become available. Cheers!

(I guess we have spent enough time on this, on with more pix and news from Kottayam! Folks, please bear with us on this small divergent discussion. )
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Old September 5th, 2007, 12:25 PM   #73
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Quote:
Originally Posted by hkaran07 View Post
Welcome back to the forum . Hope you had a great time celebrating Onam.

What is the % of buyers who do not take a bank loan ? What % of NRIs take a bank loan ? I believe it will be low since they do not get a tax benefit on home loan interest. I think that fixed interest on long term loans are only fixed for 2 years max. Am I right ? Please do comment Sudheesh.
Among the Resident Indians, almost all go for loans to get tax exemption. The purchase of apartments/home loans too can be viewed in this perspective. All young professionals need to save on tax and the most preferred mode is home loans. Same with the case of myself also, for our tax savings, my wife and I have taken a joint home loan.

Regarding NRIs, those from Middle East Countries opt for loans. I feel it is generally around 50%. To be more precise, we will have to compile the data. And generally NRIs from Europe and US are not interested in taking loans. So in the case of NRIs, we can see a divide between those from middle east and the west.

'Fixed Rate' of interest is only for a period of 3 years, after that the banks can effect the present rates.
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Old September 5th, 2007, 12:56 PM   #74
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Quote:
Originally Posted by robin_a_p View Post
The techies who are working in TVM do have higher savings compared to their counterparts in BGLR or Chennai due to low cost of living...

Its true that the cost of living is low in TVM compared BLR. But that doesn’t mean that IT profs in TVM saves more compared to BLR. ie, for a fresher(Btech or MCA), some cos in BLR are paying around 9 - 12 lakhs(Top layer) while those in TVM will be paying around 2.5 - 3 lakhs(Max). On an avarage, for 5 yrs exp guy, will be getting around 8 to 9 lakhs(Not in Infy, wipro or TCS ) in BLR. i dont think salary pattern in TVM is as strong as that in BLR. cheers..

Last edited by binoj-viswam; September 5th, 2007 at 01:02 PM.
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Old September 5th, 2007, 01:53 PM   #75
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In the US low rate Home Equity loans and 0% and low rate credit card loans (short term) are more attractive than the loans offered by Indian banks

Thanks Sudheesh!!!

In the US low rate Home Equity loans and 0% and low rate credit card loans (short term) are more attractive than the loans offered by Indian banks.

America runs on credit. Most of the employed people keep on "rolling" money from one loan to another. I wonder whether the concept of "refinancing" have started in India. With the increase of home loans banks might have started to compete with each other for customers by offering "refinancing options" at lower interests..
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Old September 6th, 2007, 12:17 AM   #76
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Quote:
Originally Posted by hkaran07 View Post
Thanks Sudheesh!!!

In the US low rate Home Equity loans and 0% and low rate credit card loans (short term) are more attractive than the loans offered by Indian banks.

America runs on credit. Most of the employed people keep on "rolling" money from one loan to another. I wonder whether the concept of "refinancing" have started in India. With the increase of home loans banks might have started to compete with each other for customers by offering "refinancing options" at lower interests..
It is practically impossible in India as the concept of Social security does not exist. In US they have tied Credit History to social security number. So any bank can check your credit history and give you a loan. In India, a person can change his name and his previous credit history does not exist (the concept can be manipulated by extremely crooked people).
It is interesting to note that US has the highest debt in the world and this debt keeps growing.
http://en.wikipedia.org/wiki/List_of..._external_debt
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Old September 24th, 2007, 06:22 AM   #77
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Proposed water front resort in Vaikom
got the pic. from architect K.C.George's website


A better picture of Sree Gokulam Spring Tower @ Kanjikkuzhy


A better picture of Jewel homes water lily @ nagampadom
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Old September 24th, 2007, 09:51 AM   #78
Aslesh
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Wow I liked the first one.
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Old September 24th, 2007, 02:38 PM   #79
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Nice projects Krishna

BTW Nagampadom is where the main mofussil bus stand is, near Railway station, isn't it? So 'Jewel Water Lily' is in the banks of which waterbody?, it is some river?
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Old September 24th, 2007, 04:45 PM   #80
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you r right sudeeshetta.but the bus stand is really dirty and the bus stand is notorious for all sorts of anti social activities.

About the water lily project, it is to come up on the bank of MEENACHIL RIVER.

Last edited by sakrishna; September 24th, 2007 at 04:58 PM.
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