akkakarla
07-05 04:22 PM
Spoke to Congresswoman Office personnel in CA . Congresswoman Eshoo office staff and Congresswoman Lofgren office staff. Going to contact Senator Clinton. I had contributed towards her Presidential Campaign.
Going to meet Congress Congresswoman Eshoo staff next week.
Going to meet Congress Congresswoman Eshoo staff next week.
wallpaper Snack attack: Lea Michele
beppenyc
03-08 02:10 PM
He has asked the absent senators via staffers that if they do not want to come to hearings, they can leave this committee and let others take their place. Apparently they need atleast one democrat to proceed.
He is waiting for atleast one more senator to turn up before 3.15 pm else hearing will be adjourned
Senator Cornyn is offering a new amendment now (#6107 ) illegal aliens convicted in felony cannot file for petition for spouse...again this is not related to us
:mad:
He is waiting for atleast one more senator to turn up before 3.15 pm else hearing will be adjourned
Senator Cornyn is offering a new amendment now (#6107 ) illegal aliens convicted in felony cannot file for petition for spouse...again this is not related to us
:mad:
snathan
08-12 02:52 PM
My suggestion for everyone reading this is - do not send this information to your Company or HR department. They could ask us to table this additional cost. I work for Accenture so I hope that this does not apply to my employer with less than 50% employees on visa. But I'm not going to write to them asking about this because they may turn around asking us to eat this new cost.
How about you? Has anyone contacted their employer already? What are they saying?
If they ask you to pay...it illegal.
How about you? Has anyone contacted their employer already? What are they saying?
If they ask you to pay...it illegal.
2011 cast members Lea Michele,
jungalee43
04-29 06:50 PM
Senator Scott Brown (R-Massachusetts) - left voice mail
Senator Judd Gregg (R-New Hampshire) - left voice mail
Senator Richard Lugar (R-Indiana) -left voice mail
Senator Michael Enzi (R-Wyoming) - left voice mail
Senator Lindsey Graham (R-South Carolina) - it was not on my print out. But would call right away.
Senator John Ensign (R-Nevada) - Spoke with staff. Could not escape noticing her "sigh" when I mentioned CIR. She asked if I was from Nevada. I said no. But still she patientely took my message. She said there was no official statement yet from the senator and would not tell his position.
Senator Orin Hatch (R-Utah) - engage. Nothing happened.
Senator John Cornyn (R-Texas) - You must call during office hours. Cannot leave voice mail.
Senator John Kyl (R-Texas) - left voice mail
Senator Mitch Mcconnell (R-Kentuky) - engage
Senator Amy Klobuchar (D-Minnesota) - Voice mail
Senator Claire McCaskill (D-Missouri) - Mail box full !!!!!!!!!!!!!
Senator Jon Tester (D-Montana) - left voice mail
Senator Jim Webb (D-Virginia) - left voice mail
Senator Sheldon Whitehouse (D-Rhode Island) - left voice mail. Here you hear prompt both in English as well as Spanish before you get the beep of the voice mail.
In every message I mentioned my name, address and phone numbers. Will call the Sen. Graham and sponsoring dems now. I will make another round of calls during office hours tomorrow.
And please the Fax link for guests. They should not be able to edit the mesasge. But must enter name and address. I can have at least 100 faxes sent.
Senator Judd Gregg (R-New Hampshire) - left voice mail
Senator Richard Lugar (R-Indiana) -left voice mail
Senator Michael Enzi (R-Wyoming) - left voice mail
Senator Lindsey Graham (R-South Carolina) - it was not on my print out. But would call right away.
Senator John Ensign (R-Nevada) - Spoke with staff. Could not escape noticing her "sigh" when I mentioned CIR. She asked if I was from Nevada. I said no. But still she patientely took my message. She said there was no official statement yet from the senator and would not tell his position.
Senator Orin Hatch (R-Utah) - engage. Nothing happened.
Senator John Cornyn (R-Texas) - You must call during office hours. Cannot leave voice mail.
Senator John Kyl (R-Texas) - left voice mail
Senator Mitch Mcconnell (R-Kentuky) - engage
Senator Amy Klobuchar (D-Minnesota) - Voice mail
Senator Claire McCaskill (D-Missouri) - Mail box full !!!!!!!!!!!!!
Senator Jon Tester (D-Montana) - left voice mail
Senator Jim Webb (D-Virginia) - left voice mail
Senator Sheldon Whitehouse (D-Rhode Island) - left voice mail. Here you hear prompt both in English as well as Spanish before you get the beep of the voice mail.
In every message I mentioned my name, address and phone numbers. Will call the Sen. Graham and sponsoring dems now. I will make another round of calls during office hours tomorrow.
And please the Fax link for guests. They should not be able to edit the mesasge. But must enter name and address. I can have at least 100 faxes sent.
more...
Libra
09-14 01:00 PM
thank you gconmymind and Bhanu for the contributions. Hope to see you guys in DC.
pointlesswait
07-15 11:24 PM
$10, via chase!
njoy!
njoy!
more...
wanna_immigrate
03-15 02:48 PM
In the last 1 months, how mcuh time is it taking for just the labor to be cleared. Not the pre-labor work. Just labor.
Thank you,.
PERM is getting approved in less than 4 weeks after filing if there is not audit.
Thank you,.
PERM is getting approved in less than 4 weeks after filing if there is not audit.
2010 Glee#39;s Lea Michele wore a
gc_on_demand
06-11 08:33 AM
Folks
July bulletin is OUT and NO more significant movement. Donot hope for future bulletin . Please call Lawmakers ASAP. Unless we take action USCIS is not going to do anything. Situation can be worse once we head towards election season. Still we have 1-2 months to get things done or we will be waiting for years to get green card OR EAD ( For some folks ).
It is just 10-15 minutes need to spend to call. Let them know WHO WE ARE AND WHAT ARE OUR ISSUES .
I request all of you to call , if you have called then ask your friends and family members to call.
Now its time to act. If we dont take action CHC will not allow to move ahead our 3 bills.
CALL NOW .... and Spread this message to everyone.
July bulletin is OUT and NO more significant movement. Donot hope for future bulletin . Please call Lawmakers ASAP. Unless we take action USCIS is not going to do anything. Situation can be worse once we head towards election season. Still we have 1-2 months to get things done or we will be waiting for years to get green card OR EAD ( For some folks ).
It is just 10-15 minutes need to spend to call. Let them know WHO WE ARE AND WHAT ARE OUR ISSUES .
I request all of you to call , if you have called then ask your friends and family members to call.
Now its time to act. If we dont take action CHC will not allow to move ahead our 3 bills.
CALL NOW .... and Spread this message to everyone.
more...
Jimi_Hendrix
11-27 11:18 AM
Hi All,
Thank you to all those who attended the first meeting! I am attaching the excel file for you to complete. I have included instructions in the file itself but let me know if you have questions. Please fill all the columns against your name.
Our next meeting will be on Thursday at 7pm PST. The tasks for our next meeting are as follows:
1) Complete the excel sheet (instructions are included).
2) Brainstorm about possible locations where we can put up a booth to register new members � someone had proposed contacting student body at UCI, we can discuss this.
3) Take a look at the IV power point presentation and propose how we can tailor it to our needs. We need a presentation to show to our house reps when we visit them (This will be found on the resources page)
4) Go through the IV template for business cards along with instructions to modify the template and to print the business cards. (this will be found on resources page)
Please let me know if you have any other questions. The conference call information is the same as last time:
Conference Dial-In: (712) 432-3000
Conference Bridge: 227974
Cheers,
Amit
Thank you to all those who attended the first meeting! I am attaching the excel file for you to complete. I have included instructions in the file itself but let me know if you have questions. Please fill all the columns against your name.
Our next meeting will be on Thursday at 7pm PST. The tasks for our next meeting are as follows:
1) Complete the excel sheet (instructions are included).
2) Brainstorm about possible locations where we can put up a booth to register new members � someone had proposed contacting student body at UCI, we can discuss this.
3) Take a look at the IV power point presentation and propose how we can tailor it to our needs. We need a presentation to show to our house reps when we visit them (This will be found on the resources page)
4) Go through the IV template for business cards along with instructions to modify the template and to print the business cards. (this will be found on resources page)
Please let me know if you have any other questions. The conference call information is the same as last time:
Conference Dial-In: (712) 432-3000
Conference Bridge: 227974
Cheers,
Amit
hair Lea Michele GQ Magazine Nov.
immi_twinges
07-20 05:47 PM
1) Contact senators who voted yea...Lets specify that we are thanking them because they are supporting legal immigration...Lets make them aware that legal immigrants are prospective voters too.
2) Contact the 2 faced senators like Clinton and Obama and express dissapointment
3) Contact senators like Kennedy...who say they believe in immigration system but vote ney for legal immigration and express your thoughts
4)Contact USINPAC and ask what they are doing to help us?
2) Contact the 2 faced senators like Clinton and Obama and express dissapointment
3) Contact senators like Kennedy...who say they believe in immigration system but vote ney for legal immigration and express your thoughts
4)Contact USINPAC and ask what they are doing to help us?
more...
saimrathi
06-06 04:04 PM
Hello,
My Labor was certified this week from PBEC. My PD is Mar '05. Is Premium filing for I-141 advised?
My Labor was certified this week from PBEC. My PD is Mar '05. Is Premium filing for I-141 advised?
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immm
07-18 03:27 PM
I am confused about receipt date?
Is receipt date the date when they do data entry into the system or is it the date when they receive the package even though they may do data entry a month later?
My application was sent on June, 14th and delivered on June 15th (I have the FedEx tracking info and signature page confirming 6/15).
The case status online based on receipt number (obtained by calling them a few times until I got lucky) says:
"On July 11, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS, and mailed you a notice describing how we will process your case."
Not sure if the online status is referring to the receipt date or the notice date when it says "On July 11, 2007, we received" when, in fact, they received it on June 15th!!
.
Is receipt date the date when they do data entry into the system or is it the date when they receive the package even though they may do data entry a month later?
My application was sent on June, 14th and delivered on June 15th (I have the FedEx tracking info and signature page confirming 6/15).
The case status online based on receipt number (obtained by calling them a few times until I got lucky) says:
"On July 11, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS, and mailed you a notice describing how we will process your case."
Not sure if the online status is referring to the receipt date or the notice date when it says "On July 11, 2007, we received" when, in fact, they received it on June 15th!!
.
more...
house as her confidence in her
sroyc
07-11 01:37 PM
In order to avoid visa wastage, there is no �per country limit� during the last quarter, that could be the main reason for this quantum leap in EB2-I PD movement.
The per country limit was not adhered to even in the 3rd quarter. Remember how EB2 India rose like a phoenix from Unavailable to April 2004? Once they determine that there are enough visas for spillover, the per country limits don't exist. The question is how they decide to distribute it among the retrogressed countries.
The per country limit was not adhered to even in the 3rd quarter. Remember how EB2 India rose like a phoenix from Unavailable to April 2004? Once they determine that there are enough visas for spillover, the per country limits don't exist. The question is how they decide to distribute it among the retrogressed countries.
tattoo Lea Michele#39;s gleeful hot body
ameryki
01-03 08:00 PM
hi applied for 485/ ead and ap on Aug 1st to NSC. I received Ead cards and finger printing complete. But no RN's for any of the 3 applications and no AP yet :-(. Can't even find out AP file number since lawyer used money order to file.
more...
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hpandey
07-06 10:32 AM
Most leaders are actually volunteers in IV. They have a regular full time job.
What you are saying: "who can take a flight to Washington DC on Monday morning, change the law by noon to issue GC to every EB category, have a lunch at Olive Garden, come back monday evening" :
For this you need to hire full time lobbyist which costs a lot
of money. IV budget is nowhere close to that the Hispanic lobby group:
National council of La Raza whose budget is
$40 million or $1.3 billion including its �affiliates� network.
IV is a tiny organization in front of La Raza. Thats....a BILLION with which they hire full time lobbyist.
I strongly suggest you listen to the audio interview to understand how big the hispanic
lobby is and get some reality check of how things work in US politics.
Raul Yzaguirre on Past and Future of La Raza : NPR (http://www.npr.org/templates/story/story.php?storyId=4229605)
Even with such power also they cant pass CIR. But at least they ensure that no
EB or illegal immigration reform will pass unless there is something for illegals.
I agree with you . In fact I commend the IV leadership for at least giving us a platform. If someone believes that by a budget of 50 K to 100K a year IV can do some miracle then I guess they are deluding themselves.
I don't know much about behind the scenes IV leadership but I respect them for taking time off and doing something for the EB community .
Money talks in this country. Maybe IV people had good ideas or bad ideas but without money I don;t think anyone is going to hear our voice OR we need mass involvement - even that is not there . Although 30,000 people are IV members but when you need them except a couple of hundred you don't see anyone.
How can an organiation work which can't even collect 5K a month from its members . We all are willing to spend hundreds ( sometimes thousands ) of dollars on EAD, AP , H1, labor, I-140, I-485, lawyers etc etc and don't even spend 100$ a year ( yes not month - a year ) .
Most of the people come here to check forums or get free advice.
For this reason alone I cannot fault IV leadership and I respect them .
What you are saying: "who can take a flight to Washington DC on Monday morning, change the law by noon to issue GC to every EB category, have a lunch at Olive Garden, come back monday evening" :
For this you need to hire full time lobbyist which costs a lot
of money. IV budget is nowhere close to that the Hispanic lobby group:
National council of La Raza whose budget is
$40 million or $1.3 billion including its �affiliates� network.
IV is a tiny organization in front of La Raza. Thats....a BILLION with which they hire full time lobbyist.
I strongly suggest you listen to the audio interview to understand how big the hispanic
lobby is and get some reality check of how things work in US politics.
Raul Yzaguirre on Past and Future of La Raza : NPR (http://www.npr.org/templates/story/story.php?storyId=4229605)
Even with such power also they cant pass CIR. But at least they ensure that no
EB or illegal immigration reform will pass unless there is something for illegals.
I agree with you . In fact I commend the IV leadership for at least giving us a platform. If someone believes that by a budget of 50 K to 100K a year IV can do some miracle then I guess they are deluding themselves.
I don't know much about behind the scenes IV leadership but I respect them for taking time off and doing something for the EB community .
Money talks in this country. Maybe IV people had good ideas or bad ideas but without money I don;t think anyone is going to hear our voice OR we need mass involvement - even that is not there . Although 30,000 people are IV members but when you need them except a couple of hundred you don't see anyone.
How can an organiation work which can't even collect 5K a month from its members . We all are willing to spend hundreds ( sometimes thousands ) of dollars on EAD, AP , H1, labor, I-140, I-485, lawyers etc etc and don't even spend 100$ a year ( yes not month - a year ) .
Most of the people come here to check forums or get free advice.
For this reason alone I cannot fault IV leadership and I respect them .
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waitingmygc
05-18 04:22 PM
Hi Chanduv23,
Thanks for the reply.
Can you let all of us know the follwoing:
1. What are the steps involved in to do everything right?
2. Is one of the step "ex employer informing USCIS about the job change has gone through this"?
3. If not then what are the disadvantages or if can't trust employer ?
Please let us know about all the steps involved to switch employer by invoking AC-21?
regards,
waitingmygc
Thanks for the reply.
Can you let all of us know the follwoing:
1. What are the steps involved in to do everything right?
2. Is one of the step "ex employer informing USCIS about the job change has gone through this"?
3. If not then what are the disadvantages or if can't trust employer ?
Please let us know about all the steps involved to switch employer by invoking AC-21?
regards,
waitingmygc
more...
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eb3_nepa
06-01 11:28 AM
pretty soon they will start requiring photos from worksite to prove that employee exists and that the company exists and is present in the US. LOL :D (I think this was a requirement for H1B...may still be a requirement):rolleyes:
Just to let u know, during my H1 processing, my H1 was thrown back to my lawyer asking them to send photographs of my workplace and co-workers, server room, my desk. I had to use an entire disposable camera for the same. To make things even funnier, i was not even the First one to be on H1 in my company. We had atleast 7-8 H1's at one point in time. The reason given for a throw back was, that this company seems quite new and small.
I know this is off topic, but since someone has raised this point albeit in jest, i thought i should let people on here know that UCSIS has it's own whims and fancies at times. So if something similar has happened to you in the past know that you may not be alone. :)
Just to let u know, during my H1 processing, my H1 was thrown back to my lawyer asking them to send photographs of my workplace and co-workers, server room, my desk. I had to use an entire disposable camera for the same. To make things even funnier, i was not even the First one to be on H1 in my company. We had atleast 7-8 H1's at one point in time. The reason given for a throw back was, that this company seems quite new and small.
I know this is off topic, but since someone has raised this point albeit in jest, i thought i should let people on here know that UCSIS has it's own whims and fancies at times. So if something similar has happened to you in the past know that you may not be alone. :)
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ameryki
01-14 04:50 PM
I have a similar question -- the USCIS site says document mailed on Dec 26th, but I am yet to receive it. I have not heard from the Lawyers either. USCIS mailed the receipt to the lawyers but EAD to our home, what's the deal with AP - home or lawyers?
AP goes to your lawyer!
AP goes to your lawyer!
hairstyles Lea Michele: TV Guide Hot List
java_jaggu
06-02 08:33 PM
Canadian_Dream, I think your interpretation is wrong..
------------------------------------------------------------------------
40 (2) PENDING AND APPROVED PETITIONS AND APPLICATIONS.�Petitions
41 for an employment-based visa filed for classification under
42 section 203(b)(1), (2), or (3) of the Immigration and Nationality
43 Act (as such provisions existed prior to the enactment of this
44 section) that were filed prior to the date of the introduction of
265
1 the [Insert title of Act] and were pending or approved at the
2 time of the effective date of this section, shall be treated as if
3 such provision remained effective and an approved petition may
4 serve as the basis for issuance of an immigrant visa. Aliens with
5 applications for a labor certification pursuant to section
6 212(a)(5)(A) of the Immigration and Nationality Act shall
7 preserve the immigrant visa priority date accorded by the date
8 of filing of such labor certification application.
-------------------------------------------------------------------------
I think what AILA, our core group and other attorneys are trying to say is that as long as you filed before May 15, 2007 you will be fine regardless of whether your petition is pending or approved. There is no dispute about this point. Any applications that were filed after May 15, 2007 will become null and void the day this bill is signed by the president to make it a law. The 'effective date' ( Oct 1, 2008 ) does not apply for applications filed after May 15, 2007. I will be glad if you can prove me wrong :)
------------------------------------------------------------------------
40 (2) PENDING AND APPROVED PETITIONS AND APPLICATIONS.�Petitions
41 for an employment-based visa filed for classification under
42 section 203(b)(1), (2), or (3) of the Immigration and Nationality
43 Act (as such provisions existed prior to the enactment of this
44 section) that were filed prior to the date of the introduction of
265
1 the [Insert title of Act] and were pending or approved at the
2 time of the effective date of this section, shall be treated as if
3 such provision remained effective and an approved petition may
4 serve as the basis for issuance of an immigrant visa. Aliens with
5 applications for a labor certification pursuant to section
6 212(a)(5)(A) of the Immigration and Nationality Act shall
7 preserve the immigrant visa priority date accorded by the date
8 of filing of such labor certification application.
-------------------------------------------------------------------------
I think what AILA, our core group and other attorneys are trying to say is that as long as you filed before May 15, 2007 you will be fine regardless of whether your petition is pending or approved. There is no dispute about this point. Any applications that were filed after May 15, 2007 will become null and void the day this bill is signed by the president to make it a law. The 'effective date' ( Oct 1, 2008 ) does not apply for applications filed after May 15, 2007. I will be glad if you can prove me wrong :)
manderson
09-24 02:00 PM
it has to be similar job PLUS with an established company.
from what i have gathered it seems that if USCIS issues a RFE or calls u for interview during adjucation they might ask for 2 yrs of tax filings of future employer to prove that it's an established company (although they are not suppposed to bring up 'ability to pay' issue which is already covered in approved 140 -- but being USCIS anything goes...).
i also wondered about the conflict of interest becoz it's your relative that u clearly identified in your G325 (Biographic) form -- but I guess if ppl are doing it then it's possible.
Ok. Now lets say I have EAD cards for me (primary applicant) and my wife. I can now have my wife start a company and have a job position similar to where I work. Now after 180 days, can I work for my wife's company invoking AC21 with my EAD??:D
and so when an RFE comes from USCIS , can this be shown as the similar job offer?
Really speaking, The USCIS only wants a promise of employment when they are adjudicating form 485 saying that I will be given a job after I get my green card:). So can I literally work anywhere for any job using my EAD until green card gets fully approved as long as I have a promise of employment (by my wife's company)? :p
Ofcourse i am risking the chance of being out of status if my 485 gets denied. i just want to make sure it wont get denied because the "similar job" offer is from my relatives (wife's) company.
any thoughts??:confused:
Rex
from what i have gathered it seems that if USCIS issues a RFE or calls u for interview during adjucation they might ask for 2 yrs of tax filings of future employer to prove that it's an established company (although they are not suppposed to bring up 'ability to pay' issue which is already covered in approved 140 -- but being USCIS anything goes...).
i also wondered about the conflict of interest becoz it's your relative that u clearly identified in your G325 (Biographic) form -- but I guess if ppl are doing it then it's possible.
Ok. Now lets say I have EAD cards for me (primary applicant) and my wife. I can now have my wife start a company and have a job position similar to where I work. Now after 180 days, can I work for my wife's company invoking AC21 with my EAD??:D
and so when an RFE comes from USCIS , can this be shown as the similar job offer?
Really speaking, The USCIS only wants a promise of employment when they are adjudicating form 485 saying that I will be given a job after I get my green card:). So can I literally work anywhere for any job using my EAD until green card gets fully approved as long as I have a promise of employment (by my wife's company)? :p
Ofcourse i am risking the chance of being out of status if my 485 gets denied. i just want to make sure it wont get denied because the "similar job" offer is from my relatives (wife's) company.
any thoughts??:confused:
Rex
jasmin45
09-08 02:17 PM
Based on my research on net and discussion with economic savy friends and my own limited knowledge in economics, by any calculation, real-estate in India is going to be in deep trouble. It will be a uncalculated gamble to invest in realty at current prices in India just because the commitment is large and long term with 0 visibility
Even in NRI perspective, set aside the low GDP of india and assume that it will grow beyond wildest dreams in next 20 years (atleast I hope they will control the inflation), the prices are still beyond the Purchasing Power Parity between nations for example US and India. US PPP is around $41500 and stand at 8th position among world countries. Now all 7 countries above US are so called non attractive for NRI's. Where does india stand? 140th position with a Purchasing Power Parity of $3300. Only poor south african, south asian countries are below India in the list.
http://www.nationmaster.com/graph/eco_gdp_pur_pow_par_percap-purchasing-power-parity-per-capita
Assume that at some point in future you will need to realize the investment say 5 years from now or even 10 years. Who will buy it from you? only 2% of indian families potentially can earn $200,000 in life time. Given this, I think you can only hope that another NRI would earn and save enough at that time to buy from you paying more that what you have invested + (alternate investment value).
There are estimated 182000 including the ones waiting for approvals real estate flats and complexes are being built all across india's major cities expanding into suburbs. As someone said, NRI's invest in majority of the projects even before 10% of development is completed. These projects will be completed in next 5 to 7 years. Beyond that new projects that may come up in future which will potentially increase the supply combined with poor purchasing power of local folks and corruption is a real recipe for disaster.
I am sure majority of NRI's did not tak a deep look at economic and political scenarios before making decision on buying realty in India. I was shocked to hear one builder with such convincing tone, saying buy it now or you will loose the chance. After a week, he increased the price by 2% and told us that there is a huge demand and he already sold 20 units in 5 days since we talked to him. Hard to believe. I later heard that he is still selling units to NRI's :) and tells them same story.
That triggered me to do some research and study the situation in that country and when I try to connect the dots.. jeez its scary. It seems they do not consider capacity of drainage, sewer and waste disposal in the area to support increased usage in their project building these flats which will house 100's of new families. Public water supply pipes are also not expanded around the development area to cater increased demand and consumption. Builders just connect water pipes to the nearest public water supply point. God knows when, that public water supply pipes were layed and to support how much consumption? Water preasure in these buildings are 0 and you just see drops :) Solution to this, Builder says its a common norm that all occupants will buy the water and share the cost.
I am not throwing the my small savings to gamble in India. If you get a good deal, go for it or just wait for a correction. Now the question is what is a good deal in given circumstances? If the rotation slow down, investment locks up, poor local PPP with make credit expensive and preasure will build on borrowers to liquidate property which will lead to fall in prices. We can even expect a credit crisis in India in next couple of years.
Do not even compare effect of credit crisis in US to if at all it is going to happen in India. US is still the strongest economy and India is not. (I am not talking about growth rate here but the depth)
I agree! I would't invest in India either. I believe awareness about these facts will save atleast few folks from being duped of hard earned money.
Even in NRI perspective, set aside the low GDP of india and assume that it will grow beyond wildest dreams in next 20 years (atleast I hope they will control the inflation), the prices are still beyond the Purchasing Power Parity between nations for example US and India. US PPP is around $41500 and stand at 8th position among world countries. Now all 7 countries above US are so called non attractive for NRI's. Where does india stand? 140th position with a Purchasing Power Parity of $3300. Only poor south african, south asian countries are below India in the list.
http://www.nationmaster.com/graph/eco_gdp_pur_pow_par_percap-purchasing-power-parity-per-capita
Assume that at some point in future you will need to realize the investment say 5 years from now or even 10 years. Who will buy it from you? only 2% of indian families potentially can earn $200,000 in life time. Given this, I think you can only hope that another NRI would earn and save enough at that time to buy from you paying more that what you have invested + (alternate investment value).
There are estimated 182000 including the ones waiting for approvals real estate flats and complexes are being built all across india's major cities expanding into suburbs. As someone said, NRI's invest in majority of the projects even before 10% of development is completed. These projects will be completed in next 5 to 7 years. Beyond that new projects that may come up in future which will potentially increase the supply combined with poor purchasing power of local folks and corruption is a real recipe for disaster.
I am sure majority of NRI's did not tak a deep look at economic and political scenarios before making decision on buying realty in India. I was shocked to hear one builder with such convincing tone, saying buy it now or you will loose the chance. After a week, he increased the price by 2% and told us that there is a huge demand and he already sold 20 units in 5 days since we talked to him. Hard to believe. I later heard that he is still selling units to NRI's :) and tells them same story.
That triggered me to do some research and study the situation in that country and when I try to connect the dots.. jeez its scary. It seems they do not consider capacity of drainage, sewer and waste disposal in the area to support increased usage in their project building these flats which will house 100's of new families. Public water supply pipes are also not expanded around the development area to cater increased demand and consumption. Builders just connect water pipes to the nearest public water supply point. God knows when, that public water supply pipes were layed and to support how much consumption? Water preasure in these buildings are 0 and you just see drops :) Solution to this, Builder says its a common norm that all occupants will buy the water and share the cost.
I am not throwing the my small savings to gamble in India. If you get a good deal, go for it or just wait for a correction. Now the question is what is a good deal in given circumstances? If the rotation slow down, investment locks up, poor local PPP with make credit expensive and preasure will build on borrowers to liquidate property which will lead to fall in prices. We can even expect a credit crisis in India in next couple of years.
Do not even compare effect of credit crisis in US to if at all it is going to happen in India. US is still the strongest economy and India is not. (I am not talking about growth rate here but the depth)
I agree! I would't invest in India either. I believe awareness about these facts will save atleast few folks from being duped of hard earned money.
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