ndbhatt
09-09 12:43 PM
My 2 cents.
From what I have read and learned from my experience, the dwelling (house/condo/apt, etc) prices are sensible and affordable (read payable) if it is between 2-3 times household annual income. I think this applies universaly with few exceptions.
Average household (family) income in India metro cities is around 6-7 INR lacs. For folks working in IT, it would be 'X' % more depending on his/her work. Let's take liberal amount of 12 lacs p.a.
This means that buying a property for price over INR 36 lacs would carry significant risk of defaulting. I have heard many of my friends give me argument that our income will grow significantly over years and should be able to manage higher loan amounts.
I am really aghast at the rate at which NRI's are investing in India. I can speak to Mumbai, where there are thousands of NRI bought properties that are vacant for years and there is no justifiable ROI. Having realised that there is no ROI due to resale or renting, sooner or later they will start pulling out their hard earned money. I wouldn't be surprised to see many foreclosures, in years to come, and RBI may have to bail out ICICI, IDBI, etc - a scenario similar to Fannie Mae and Freddie Mac.
I have thumb rule for myself - Don't buy property which is 3 times more than current annual income.
P.S. This isn't applicable for folks who have inherited a fortune. :D
From what I have read and learned from my experience, the dwelling (house/condo/apt, etc) prices are sensible and affordable (read payable) if it is between 2-3 times household annual income. I think this applies universaly with few exceptions.
Average household (family) income in India metro cities is around 6-7 INR lacs. For folks working in IT, it would be 'X' % more depending on his/her work. Let's take liberal amount of 12 lacs p.a.
This means that buying a property for price over INR 36 lacs would carry significant risk of defaulting. I have heard many of my friends give me argument that our income will grow significantly over years and should be able to manage higher loan amounts.
I am really aghast at the rate at which NRI's are investing in India. I can speak to Mumbai, where there are thousands of NRI bought properties that are vacant for years and there is no justifiable ROI. Having realised that there is no ROI due to resale or renting, sooner or later they will start pulling out their hard earned money. I wouldn't be surprised to see many foreclosures, in years to come, and RBI may have to bail out ICICI, IDBI, etc - a scenario similar to Fannie Mae and Freddie Mac.
I have thumb rule for myself - Don't buy property which is 3 times more than current annual income.
P.S. This isn't applicable for folks who have inherited a fortune. :D
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vpadman
01-07 03:45 PM
What are the scenarios under which emergency AP is applicable ?
franklin
09-10 12:13 AM
and i am NOT the real Lou Dobbs. But in all seriousness guy, I think we really have to wake up. We are illegal immigrants....
And we are not asking for Amnesty...
There is no deying the fact that this country has benefited from us much than us. How about some moral abligation and sense of fairness from this great country???
Speak for yourself, I'm totally legal
And we are not asking for Amnesty...
There is no deying the fact that this country has benefited from us much than us. How about some moral abligation and sense of fairness from this great country???
Speak for yourself, I'm totally legal
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ssk1127
08-23 06:14 PM
I am just a reader of IV but this article made me to reply and below are my thoughts regarding the PM
> This might take atleast 6 months to get signoff (IF aproved by everyone)
> This will impact only the I-140 that are still pending approval
> I assume people who recently applied (mostly in past 1 year) for I140 has to go through this process. So this filters lot of people who applied for GC's longitme back.
> Mine i140 is already approved so I think i wil not be impacted
> Also this is applicable for "Exceptional Ability" only (I did a search the entire PDF and not find anything that talked about advacned degree)
> So every one who has masters degree in US will be considerd as Advanced degree and will not be impacted (See this article http://www.callyourlawyers.com/pdfcaselaw/eb2memo.pdf[/url] Note: This is not officially release d by USCSIS)
> I looked at my I140 approval and it clearly says "Advance Degree or Exceptional Ability". I have Master degree from a Sate Universtiy so I think I am covered
> So if anyone whose application is still penidng they might want to confirm with their attorney to see if it said "Advance Degree or Exceptional Ability" OR "Advance Degree and Exceptional Ability" OR "Advance Degree" OR "Exceptional Ability"
> If "or" i think you shold be ok as you can opt for advacned degree. However "Exceptional Ability" might have to show proof "IF" they do not get approval by the time this memo goes live ( I mean if this gets approved)
> I am pretty sure most of them wil have advanced degree but just to make you might want to confirm with your attorney
Thanks
Satish
> This might take atleast 6 months to get signoff (IF aproved by everyone)
> This will impact only the I-140 that are still pending approval
> I assume people who recently applied (mostly in past 1 year) for I140 has to go through this process. So this filters lot of people who applied for GC's longitme back.
> Mine i140 is already approved so I think i wil not be impacted
> Also this is applicable for "Exceptional Ability" only (I did a search the entire PDF and not find anything that talked about advacned degree)
> So every one who has masters degree in US will be considerd as Advanced degree and will not be impacted (See this article http://www.callyourlawyers.com/pdfcaselaw/eb2memo.pdf[/url] Note: This is not officially release d by USCSIS)
> I looked at my I140 approval and it clearly says "Advance Degree or Exceptional Ability". I have Master degree from a Sate Universtiy so I think I am covered
> So if anyone whose application is still penidng they might want to confirm with their attorney to see if it said "Advance Degree or Exceptional Ability" OR "Advance Degree and Exceptional Ability" OR "Advance Degree" OR "Exceptional Ability"
> If "or" i think you shold be ok as you can opt for advacned degree. However "Exceptional Ability" might have to show proof "IF" they do not get approval by the time this memo goes live ( I mean if this gets approved)
> I am pretty sure most of them wil have advanced degree but just to make you might want to confirm with your attorney
Thanks
Satish
more...
chanduv23
09-15 04:16 PM
Bump
dpuranik
07-15 10:36 PM
Thanks
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gapala
09-05 03:43 PM
The unbelievable growth in India made me explore a bit in terms of investments, ended up with the financial advise and recommendation from experts that we cannot directly invest in equity as an NRI. Only investment allowed it seems, for NRI is in real estate. Not sure whether this is true. There holds the surprise I could not add up the numbers in real-estate in India. Real estate in India is darn expensive even by international standards (with per capita GDP of $700->$2500 per annum).
Flats in Indian hub cities: 2-bedroom, 1000 sq ft apartment for average $200,000-$300,000 and above. (www.99acres.com) Condos in most major metros in USA: 2-bedroom, 1000 sq ft average $200,000-$300,000 (google housing)
Given that, median income in US is 50 times more than India. I thought the Indian cities are up in bubble. Next, look at agricultural land prices.
Agricultural land in Northern part of India is average $50000 - $250,000 per acre (www. 99acres.com) where in east, west and south is about $20000-$200,000. In Villages its about $15000 to $50000 per acre.
Agricultural land in US is in the range of $6000-$15000 per acre. ($12,000 per acre in NJ, $6,000 per acre in California and $8,000 per acre in Florida. From USDA website)
Now You can do the math. Commercial land is even more expensive in india.
The reason, people say, population density. Now lets look at this factor, the density in India is much higher than USA. But, compare to NJ, NJ is actually slightly more densely populated than most states in India. Real estate is regulated by government in India that prevents easy buying and selling and land survey records are not properly maintained which makes it easy to bump up the price.
Can someone explain to me how in the world, the farmers in India who make less than $1000 per annum continue to own land that is valued at several $100K? How many can afford a home in that country?
Is this what economic experts call "bubble"? I believe there needs to be a correction in the market in India to avoid a disaster.
Flats in Indian hub cities: 2-bedroom, 1000 sq ft apartment for average $200,000-$300,000 and above. (www.99acres.com) Condos in most major metros in USA: 2-bedroom, 1000 sq ft average $200,000-$300,000 (google housing)
Given that, median income in US is 50 times more than India. I thought the Indian cities are up in bubble. Next, look at agricultural land prices.
Agricultural land in Northern part of India is average $50000 - $250,000 per acre (www. 99acres.com) where in east, west and south is about $20000-$200,000. In Villages its about $15000 to $50000 per acre.
Agricultural land in US is in the range of $6000-$15000 per acre. ($12,000 per acre in NJ, $6,000 per acre in California and $8,000 per acre in Florida. From USDA website)
Now You can do the math. Commercial land is even more expensive in india.
The reason, people say, population density. Now lets look at this factor, the density in India is much higher than USA. But, compare to NJ, NJ is actually slightly more densely populated than most states in India. Real estate is regulated by government in India that prevents easy buying and selling and land survey records are not properly maintained which makes it easy to bump up the price.
Can someone explain to me how in the world, the farmers in India who make less than $1000 per annum continue to own land that is valued at several $100K? How many can afford a home in that country?
Is this what economic experts call "bubble"? I believe there needs to be a correction in the market in India to avoid a disaster.
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smuggymba
08-12 01:08 PM
The impact to companies like Infy etc is ~5-10MM
If someone look at their last year Balance sheet, They spent appx 16MM on visas, now assuming H1 cost came to ~10MM (these companies do lot of business elsewhere )
that would translate to ~ 2500 filings (including extn, new etc)
this additional $2000 would result in additional $5MM cost if they decide to continue filing 2500
This would not be too huge to make a dent on these companies. yes they may increase their billing to client by $2-5
So who is ultimately paying it is the American companies who use offshoring companies.
This new law:
1.) won't stop Infy, TCS from operating in USA
2.) Won't create jobs for americans
3.) Won't increase the competitiveness of american employees
4.) Will increase offshoring
5.) Will make a small dent in the profits of Indian companies but they likely will cut down on expenses/bonuseses/initiatives
If someone look at their last year Balance sheet, They spent appx 16MM on visas, now assuming H1 cost came to ~10MM (these companies do lot of business elsewhere )
that would translate to ~ 2500 filings (including extn, new etc)
this additional $2000 would result in additional $5MM cost if they decide to continue filing 2500
This would not be too huge to make a dent on these companies. yes they may increase their billing to client by $2-5
So who is ultimately paying it is the American companies who use offshoring companies.
This new law:
1.) won't stop Infy, TCS from operating in USA
2.) Won't create jobs for americans
3.) Won't increase the competitiveness of american employees
4.) Will increase offshoring
5.) Will make a small dent in the profits of Indian companies but they likely will cut down on expenses/bonuseses/initiatives
more...
skv
06-18 11:17 AM
I am praying what u say is right!1111
Hope and wish your prayers will be answered. After we have waited long enough to have luck on our side this time !!! :-)
Hope and wish your prayers will be answered. After we have waited long enough to have luck on our side this time !!! :-)
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beppenyc
03-16 10:15 AM
Frist Sets Date for Immigration Debate
(CNSNews.com) - Senate Majority Leader Bill Frist said he will bring an immigration reform bill to the Senate floor later this month, something that will force debate on a guest worker program supported by some Republicans but opposed by others. The Judiciary Committee hasn't completed work on what it calls a "very complicated" bill: Critics oppose any moves to give temporary workers amnesty. The House passed an immigration bill last year that does not address the guest worker issue. Read News on the Web
(CNSNews.com) - Senate Majority Leader Bill Frist said he will bring an immigration reform bill to the Senate floor later this month, something that will force debate on a guest worker program supported by some Republicans but opposed by others. The Judiciary Committee hasn't completed work on what it calls a "very complicated" bill: Critics oppose any moves to give temporary workers amnesty. The House passed an immigration bill last year that does not address the guest worker issue. Read News on the Web
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yabadaba
07-11 09:19 AM
My online status shows
"On August 17, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS..........................."
My recepit date was however July 2nd 2007. Are they processing my application or they go by received date of 8/17?
can someone explain how this works?
no one knows..if u call up the cust service ppl.. they will say we received it on aug 17th..so thats the RD..we know better...but doesnt get us anywhere
"On August 17, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS..........................."
My recepit date was however July 2nd 2007. Are they processing my application or they go by received date of 8/17?
can someone explain how this works?
no one knows..if u call up the cust service ppl.. they will say we received it on aug 17th..so thats the RD..we know better...but doesnt get us anywhere
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asanghi
09-12 07:30 PM
How do I place the google order? This is going to be my first contribution..
Click on "Contribute Now" on very top of the page.
Scroll down until you see blue colored "Buy Now" buttons.
Click on the blue button for amount you want to contribute.
Follow directions thereon.
Click on "Contribute Now" on very top of the page.
Scroll down until you see blue colored "Buy Now" buttons.
Click on the blue button for amount you want to contribute.
Follow directions thereon.
more...
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vinnysuru
03-14 11:13 AM
Thanks for you post about Canada Visit. You mentioned that one shouldn't say vacation for purpose of visit. What should we say then? My wife and I are going for Landing to Canada and people have posted that if you tell you landed as immigrant in Canada then Border Officers give you a hard time as well and some have even got RFE's from USCIS regarding their intent with US immigration process. So either way we are in trouble!
Friends please advise. What should you say to Border Patrol Officers on Re Entry to US with AP?:(
Also would you mind sharing what was your purpose of Visit?
I drove back from canada today. and I though I should post my experiance at the buffalo border crossing.
Drove up to the IO gave him my AP and passport. he gave me a token number and asked me to go into the office. Very polite. parked my car went into the office.
waited for about 40 minutes then they finally called me. the lady was very polite soft spoken she had already gotten all my papers ready like new I-94 card. stamp on AP and passport. She asked for my old I-94 cards I handed here all my old ones (i had about 6, since i first came on student visa then switched employers) i mentioned to her that I lost one of my I-94 would a photo copy work and she said yes thats not a problem. after she took all my I-94 cards stamped my passport with ap exiration date same on i-94. I mentioned to her that I will going back and forth to canada very frequently and she jokingly said then I will be seeing you alot.
No other questions were asked. the whole process went very smoothly.
O a friend of mine told me if asked purpose of visit outside US don't say vacation on AP that pisses the IO's because AP is only for emergencies originally.
Friends please advise. What should you say to Border Patrol Officers on Re Entry to US with AP?:(
Also would you mind sharing what was your purpose of Visit?
I drove back from canada today. and I though I should post my experiance at the buffalo border crossing.
Drove up to the IO gave him my AP and passport. he gave me a token number and asked me to go into the office. Very polite. parked my car went into the office.
waited for about 40 minutes then they finally called me. the lady was very polite soft spoken she had already gotten all my papers ready like new I-94 card. stamp on AP and passport. She asked for my old I-94 cards I handed here all my old ones (i had about 6, since i first came on student visa then switched employers) i mentioned to her that I lost one of my I-94 would a photo copy work and she said yes thats not a problem. after she took all my I-94 cards stamped my passport with ap exiration date same on i-94. I mentioned to her that I will going back and forth to canada very frequently and she jokingly said then I will be seeing you alot.
No other questions were asked. the whole process went very smoothly.
O a friend of mine told me if asked purpose of visit outside US don't say vacation on AP that pisses the IO's because AP is only for emergencies originally.
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gkdgopi
07-21 11:49 AM
According to LATimes article
http://www.latimes.com/business/la-fi-visas21jul21,1,3932099.story?coll=la-headlines-business&ctrack=1&cset=true
only 55000 applications so far this month.
"There was intense public reaction," said Bill Wright, spokesman for the citizenship and immigration agency, in explaining the reason for the reversal. "We heard that and did listen."
Wright said at least 55,000 applications had been filed this month; the window will remain open until Aug. 17. "
http://www.latimes.com/business/la-fi-visas21jul21,1,3932099.story?coll=la-headlines-business&ctrack=1&cset=true
only 55000 applications so far this month.
"There was intense public reaction," said Bill Wright, spokesman for the citizenship and immigration agency, in explaining the reason for the reversal. "We heard that and did listen."
Wright said at least 55,000 applications had been filed this month; the window will remain open until Aug. 17. "
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ychousa
07-19 12:58 AM
The following post
dont worry, the above scenario would happen only if pd remaines current.This is highly unlikely. In the next few months PD would retrogress to for instance 2004 , then you'll get your GC first :) Cheer up buddy:)
And this post
So the work of reviewing files goes roughly in FIFO order (that is based on RD) all round the year whether the bulletin says C, U, A, B or JAN01STONEAGE!
say the opposite.
The process in the second post sounds unfair, but it seems it is true, escpecially if you check this page: https://egov.uscis.gov/cris/jsps/Processtimes.jsp?SeviceCenter=NSC
dont worry, the above scenario would happen only if pd remaines current.This is highly unlikely. In the next few months PD would retrogress to for instance 2004 , then you'll get your GC first :) Cheer up buddy:)
And this post
So the work of reviewing files goes roughly in FIFO order (that is based on RD) all round the year whether the bulletin says C, U, A, B or JAN01STONEAGE!
say the opposite.
The process in the second post sounds unfair, but it seems it is true, escpecially if you check this page: https://egov.uscis.gov/cris/jsps/Processtimes.jsp?SeviceCenter=NSC
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NKR
04-02 12:55 PM
I reviewed my comment and I haven't wrote anything trashing another country and I didn't say that USCIS is bad. In fact, if you read carefully I am trying to defend USCIS from "Mirage's comments".
I don't know what nationality you are, but, I am an Australian and I don't need to suck up to get my green card. I will get my greencard soon, probably sooner than you.
In fact, there is a special immigration program "only for Australians" that allow me and my dependents to work and live in Australia indefinitely. That was signed in to law by the President last year, if you didn't know about that. I guess you got me wrong. Australia and America have good relationships as you know.
I still would stress to thank America for giving me the opportunity to work and live and experience America.
Please read my comments properly next time and be a little fair on your comments.
No wonder you do not like people complaining about things not moving fast enough. Dude, you got to eat something to know how it tastes.
If you are getting a GC sooner just because you are an Australian, you have no moral authority to preach people who are affected. This thread is not for you, you are welcome to visit other threads though.
I don't know what nationality you are, but, I am an Australian and I don't need to suck up to get my green card. I will get my greencard soon, probably sooner than you.
In fact, there is a special immigration program "only for Australians" that allow me and my dependents to work and live in Australia indefinitely. That was signed in to law by the President last year, if you didn't know about that. I guess you got me wrong. Australia and America have good relationships as you know.
I still would stress to thank America for giving me the opportunity to work and live and experience America.
Please read my comments properly next time and be a little fair on your comments.
No wonder you do not like people complaining about things not moving fast enough. Dude, you got to eat something to know how it tastes.
If you are getting a GC sooner just because you are an Australian, you have no moral authority to preach people who are affected. This thread is not for you, you are welcome to visit other threads though.
more...
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quizzer
07-06 02:16 AM
Please digg
http://digg.com/politics/Suit_Planned_Over_Visas_for_the_Highly_Skilled
jus dugged
excellent article
http://digg.com/politics/Suit_Planned_Over_Visas_for_the_Highly_Skilled
jus dugged
excellent article
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dingdong12
06-23 10:55 AM
well, i just made my first payment for $100 thru paypal
Receipt ID: 14F00794MF330594S
Receipt ID: 14F00794MF330594S
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lonedesi
06-19 10:05 AM
Also, please contact this person:
Helen Parker
Regional Administrator
U.S. Department of Labor/ETA
Atlanta Federal Center 61 Forsyth St. Rm. 6M12
Atlanta,GA 30303
Phone: (404) 562-2092
Fax: (404) 562-2149
Send faxes and call to request them to process our PERM applications. Please act now, if not we will miss the bus.
Helen Parker
Regional Administrator
U.S. Department of Labor/ETA
Atlanta Federal Center 61 Forsyth St. Rm. 6M12
Atlanta,GA 30303
Phone: (404) 562-2092
Fax: (404) 562-2149
Send faxes and call to request them to process our PERM applications. Please act now, if not we will miss the bus.
gsvisu
07-13 05:07 PM
My 2.5 Cents.
We need to start a Letter Campaign next.
A focussed uniform format with some lead from IV. But now focus on San Jose,CA's rally efforts.
We need to start a Letter Campaign next.
A focussed uniform format with some lead from IV. But now focus on San Jose,CA's rally efforts.
wanna_immigrate
03-15 03:33 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,.
BTW you can check it out at
Welcome to the iCERT Portal (http://icert.doleta.gov/)
Thank you,.
BTW you can check it out at
Welcome to the iCERT Portal (http://icert.doleta.gov/)
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