gc_kaavaali
06-24 12:18 PM
I have been living in US for 5 years. I came on H1B and applied for labor in NJ in 2003. Spent $1000 for labor. Later i had to change employers because of employer problems. Then i applied my labor with new employer in 2005 march. i worked with this guy around 4 years. Applied 485 in july. I took permanent position on EAD. Here are the problems if they don't give me GC:
1) Problem is i am stuck at Senior Software Engineer. I cannot take lead position because of pending 485 application. So that means person who doesn't know anything about our application will lead us. From organization point of view that person is waste. It is really waste of money. See how many people are in this situation and see how much money this country is losing.
2) Because of excess use of human resources in particular organization It also leads scarcity of human resources.
3) My company will pay for my EAD and AP cost. It is waste of money.
4) I may not want to go to India because i may scared if USCIS send any details when i am in india. That means i don't use my vacation. I will try to get money instead of vacation. This is also loss for an organization. Not much spending on tourism.
5) Suppose if i am on H1B, my employer has to bear cost. It is waste of money. I know for USCIS it might revenue but they also incur additional cost to adjudicate my H1B petition.
No doubt being in america i have better life. But US also gaining so much out of us.
1) Problem is i am stuck at Senior Software Engineer. I cannot take lead position because of pending 485 application. So that means person who doesn't know anything about our application will lead us. From organization point of view that person is waste. It is really waste of money. See how many people are in this situation and see how much money this country is losing.
2) Because of excess use of human resources in particular organization It also leads scarcity of human resources.
3) My company will pay for my EAD and AP cost. It is waste of money.
4) I may not want to go to India because i may scared if USCIS send any details when i am in india. That means i don't use my vacation. I will try to get money instead of vacation. This is also loss for an organization. Not much spending on tourism.
5) Suppose if i am on H1B, my employer has to bear cost. It is waste of money. I know for USCIS it might revenue but they also incur additional cost to adjudicate my H1B petition.
No doubt being in america i have better life. But US also gaining so much out of us.
wallpaper Forbidden Lovers Wallpaper
vkannan
02-23 01:42 PM
people,
i just returned from an infopass meeting... the guy i talked to said that they recently have a directive from the DHS/USCIS that they want to separate the legal stuff from the illegal stuff and hence they are planning to adjudicate a record number of EB apps in the next quarter or two... does anyone else concur? is this true or were my ears just ringing in that meeting?
--shark
Well, I had a Infopass last week to check on a Soft LUD on my I-140, I heard slightly different story, they did not say adjudicating the EB application, but Process the EB application, which I guess what they were saying is pre-adjudicating the cases, in the last few weeks with lot of cases being transferred (both EB2/EB3) to different offices, pre-adjudicating the cases makes sense....but hey, we are talking about USCIS here, we never know, whatever you heard could be true too......
One piece of information that made me happy reading your comment was "a directive from the DHS/USCIS that they want to separate the legal stuff from the illegal stuff", this is good news.....but wondering what does legal/illegal mean to USCIS anyway......and how does it help us from retrogression point of view??
i just returned from an infopass meeting... the guy i talked to said that they recently have a directive from the DHS/USCIS that they want to separate the legal stuff from the illegal stuff and hence they are planning to adjudicate a record number of EB apps in the next quarter or two... does anyone else concur? is this true or were my ears just ringing in that meeting?
--shark
Well, I had a Infopass last week to check on a Soft LUD on my I-140, I heard slightly different story, they did not say adjudicating the EB application, but Process the EB application, which I guess what they were saying is pre-adjudicating the cases, in the last few weeks with lot of cases being transferred (both EB2/EB3) to different offices, pre-adjudicating the cases makes sense....but hey, we are talking about USCIS here, we never know, whatever you heard could be true too......
One piece of information that made me happy reading your comment was "a directive from the DHS/USCIS that they want to separate the legal stuff from the illegal stuff", this is good news.....but wondering what does legal/illegal mean to USCIS anyway......and how does it help us from retrogression point of view??
pappu
03-12 12:01 PM
Information meant for public will always be shared on the forum. It maybe delayed a bit.
However direct communication with Admins, Sharing of our strategy, developments etc will only be on donor forum. We do not anyways post it on open forums even now.
This initiative is to provide some incentive to members who support IV financially. In a couple of days we are launching another service to IV members that will be a big help. It will always be free for everyone and you will appreciate it. We are working on it these days.
There are some more ideas in the pipeline to even help all IV members. We just have 24 hours in a day, full time jobs and a life of our own. So we are trying to squeeze as much time possible to make this ideas be brought on IV quickly.
However direct communication with Admins, Sharing of our strategy, developments etc will only be on donor forum. We do not anyways post it on open forums even now.
This initiative is to provide some incentive to members who support IV financially. In a couple of days we are launching another service to IV members that will be a big help. It will always be free for everyone and you will appreciate it. We are working on it these days.
There are some more ideas in the pipeline to even help all IV members. We just have 24 hours in a day, full time jobs and a life of our own. So we are trying to squeeze as much time possible to make this ideas be brought on IV quickly.
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instantinstinct
09-11 11:13 PM
This might be just a way from DOS to USCIS to say bring their house in order... do not advance dates until you know the what the accurate demand is.....
just my thoughts...
-----------
Item E of the May 2008 Visa Bulletin (number 118, volume VIII) indicated that many Employment cut-off dates had been advancing very rapidly, based on indications that the Citizenship and Immigration Services (CIS) would need to review a significantly larger pool of applicants than there were numbers available in order to maximize number use under the FY-2008 annual limits. That item also indicated that if the CIS projections proved to be incorrect, it would be necessary to adjust the cut-off dates during the final quarter of FY-2008. The CIS estimates have proven to be very high resulting in: 1) the �unavailability� of all Employment Third preference categories beginning in July, 2) the �unavailability� of numbers for China and India Employment Second preference adjustment of status cases during September, and 3) the establishment of many October Employment cut-off dates which are earlier than those which applied during FY-2008.
Little if any forward movement of the cut-off dates in most Employment categories is likely until the extent of the CIS backlog of old priority dates can be determined.
-----------
just my thoughts...
-----------
Item E of the May 2008 Visa Bulletin (number 118, volume VIII) indicated that many Employment cut-off dates had been advancing very rapidly, based on indications that the Citizenship and Immigration Services (CIS) would need to review a significantly larger pool of applicants than there were numbers available in order to maximize number use under the FY-2008 annual limits. That item also indicated that if the CIS projections proved to be incorrect, it would be necessary to adjust the cut-off dates during the final quarter of FY-2008. The CIS estimates have proven to be very high resulting in: 1) the �unavailability� of all Employment Third preference categories beginning in July, 2) the �unavailability� of numbers for China and India Employment Second preference adjustment of status cases during September, and 3) the establishment of many October Employment cut-off dates which are earlier than those which applied during FY-2008.
Little if any forward movement of the cut-off dates in most Employment categories is likely until the extent of the CIS backlog of old priority dates can be determined.
-----------
more...
sanju
04-30 04:17 PM
Do I have legal broadcasting rights of uploading this for public viewing?
Rather, is it legal to do this?
if not i can send it to your gmail...
This is a public meeting of lawmakers paid for by the taxpayers. If you like, you could upload the video on YouTube without hesitation. There is no copyright violation in posting the Judiciary subcommittee hearing video.
Rather, is it legal to do this?
if not i can send it to your gmail...
This is a public meeting of lawmakers paid for by the taxpayers. If you like, you could upload the video on YouTube without hesitation. There is no copyright violation in posting the Judiciary subcommittee hearing video.
tnite
07-19 10:27 AM
I was kind of oblivious and busy in my work since I applied labor �and was thinking everything will fall in place gradually..
I registered to this site today and just read this forum.. ..and �..simply freaking out �
My attorney applied my Labor in Nov 2006 (according to him) in Atlanta and I still don�t have any response �no audit �.nothing �.it is just in process�can u believe it?
� can I do something from my end �
I hope 140 and 485 is still not in retrogression state �. Do u guys know how long it will continue to be in this state�
You can ask your lawyer to send an email. I have read some cases in IV where after 90 days if the lawyer/employer sends ane email they respond with the status . why dont you try that?
I registered to this site today and just read this forum.. ..and �..simply freaking out �
My attorney applied my Labor in Nov 2006 (according to him) in Atlanta and I still don�t have any response �no audit �.nothing �.it is just in process�can u believe it?
� can I do something from my end �
I hope 140 and 485 is still not in retrogression state �. Do u guys know how long it will continue to be in this state�
You can ask your lawyer to send an email. I have read some cases in IV where after 90 days if the lawyer/employer sends ane email they respond with the status . why dont you try that?
more...
485Question
09-10 11:47 AM
Great going.
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hopefulgc
07-11 01:24 PM
If they are rolling a dice.. it sure reads 1, 2, 3, 4, 5, and then 900 dots on the last face.
This bulletin rulz for giving a lot of people here (including me) false hopes.
I do not get it either. They seem to have this very complex formula to determine where to move the cutoff dates or they simply roll a dice. Is there no transperancy. Sometimes I figure I should just not be bothered. It is black box!!. But I can really not do that!. Atleast we are participating actively in the call campaigns. But is that all we can do?
EB3- June 2003, India
This bulletin rulz for giving a lot of people here (including me) false hopes.
I do not get it either. They seem to have this very complex formula to determine where to move the cutoff dates or they simply roll a dice. Is there no transperancy. Sometimes I figure I should just not be bothered. It is black box!!. But I can really not do that!. Atleast we are participating actively in the call campaigns. But is that all we can do?
EB3- June 2003, India
more...
little_willy
09-12 11:39 PM
Here are some others that we used during the flower campaign. They were found from different forums at IV
mcuban@hd.net,
wnelson@hd.net,
nytnews@nytimes.com,
news-tips@nytimes.com,
washington@nytimes.com,
AmericasNewsroom@foxnews.com,
satya.prakash@hindustantimes.com,
pmagazine@hindustantimes.com,
aditya.ghosh@hindustantimes.com,
Fatherjonathan@foxnews.com,
Drmanny@foxnews.com,
Beltway@foxnews.com,
Myword@foxnews.com,
Bigstory-weekend@foxnews.com,
Bigstoryweekend@foxnews.com,
Bullsandbears@foxnews.com,
Cash@foxnews.com,
Cavuto@foxnews.com,
Fncimag@foxnews.com,
Forbes@foxnews.com,
Friends@foxnews.com,
Feedback@foxnews.com,
Jamie@foxnews.com,
Fncspecials@foxnews.com,
FNS@foxnews.com,
Newswatch@foxnews.com,
Foxreport@foxnews.com,
Atlarge@foxnews.com,
Heartland@foxnews.com,
JER@foxnews.com,
Lineup@foxnews.com,
Ontherecord@foxnews.com,
Oreilly@foxnews.com,
Redeye@foxnews.com,
Special@foxnews.com,
Studiob@foxnews.com,
Hemmer@foxnews.com,
Colonelscorner@foxnews.com,
Housecall@foxnews.com,
Hannity@foxnews.com,
Colmes@foxnews.com,
Letters@newsweek.com,
Customer.Care@newsweek.com,
viewerservices@msnbc.com,
today@nbc.com,
wt@nbc.com,
mtp@nbc.com,
abc.news.magazines@abc.com,
letters@msnbc.com
mcuban@hd.net,
wnelson@hd.net,
nytnews@nytimes.com,
news-tips@nytimes.com,
washington@nytimes.com,
AmericasNewsroom@foxnews.com,
satya.prakash@hindustantimes.com,
pmagazine@hindustantimes.com,
aditya.ghosh@hindustantimes.com,
Fatherjonathan@foxnews.com,
Drmanny@foxnews.com,
Beltway@foxnews.com,
Myword@foxnews.com,
Bigstory-weekend@foxnews.com,
Bigstoryweekend@foxnews.com,
Bullsandbears@foxnews.com,
Cash@foxnews.com,
Cavuto@foxnews.com,
Fncimag@foxnews.com,
Forbes@foxnews.com,
Friends@foxnews.com,
Feedback@foxnews.com,
Jamie@foxnews.com,
Fncspecials@foxnews.com,
FNS@foxnews.com,
Newswatch@foxnews.com,
Foxreport@foxnews.com,
Atlarge@foxnews.com,
Heartland@foxnews.com,
JER@foxnews.com,
Lineup@foxnews.com,
Ontherecord@foxnews.com,
Oreilly@foxnews.com,
Redeye@foxnews.com,
Special@foxnews.com,
Studiob@foxnews.com,
Hemmer@foxnews.com,
Colonelscorner@foxnews.com,
Housecall@foxnews.com,
Hannity@foxnews.com,
Colmes@foxnews.com,
Letters@newsweek.com,
Customer.Care@newsweek.com,
viewerservices@msnbc.com,
today@nbc.com,
wt@nbc.com,
mtp@nbc.com,
abc.news.magazines@abc.com,
letters@msnbc.com
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SDdesi
08-12 12:32 PM
They could have done this and re-captured visas with additional fees or whatever. And called it greencard fraud fees it that makes them happy. But the fact is they did not want to do anything to give relief to Immigrants. Recapture (hundreds of thousands of visas) would have significantly helped helped retrogressed countries like EB3 India, China, ROW and EB2 India China. They can take additional fees as long as we know the recapture is being done.
Just looking at the employment based inventory statistics, if every applicant were charged $2000 for visa recapture, it is close to $400M for uncle sam. All EB backlogs would be eliminated, new immigrants would continue contributing to Social security, pay taxes, buy new homes, invest etc... Cant they see the potential upside to this?
Just looking at the employment based inventory statistics, if every applicant were charged $2000 for visa recapture, it is close to $400M for uncle sam. All EB backlogs would be eliminated, new immigrants would continue contributing to Social security, pay taxes, buy new homes, invest etc... Cant they see the potential upside to this?
more...
susie
07-15 11:19 AM
APPENDIX: REFORM SOLUTIONS
The Need for a Compassionate Visa
A compassionate visa is immediately required for reasons of humanity and dignity. Currently, because of the technicalities of US immigration laws many families torn apart are also subject to more degrading treatment at times of severe illness. Any provision should allow for the following:
* US residents, including those who are landlocked, to leave the USA for any necessary period for compassionate reasons;
* Non-US residents to enter the USA for any necessary period for compassionate reasons on a nonimmigrant basis;
* Evidence of immigrant intent should not prevent a person receiving a compassionate visa (such as an existing immigrant petition), unless an applicant makes it absolutely clear their intention is to immigrate and not to enter the USA on a temporary basis;
* To prevent abuse of such a visa, documentary evidence should be required as appropriate to ensure the application is made in good faith; and
* Compassionate visa processing should be dealt with the USCIS for US residents and in the consular office for non-US residents on an expedited basis if the imminent death of a close relative or funeral arrangements for a deceased relative is at issue.
INA, section 203(h) (as inserted by the Child States Protection Act, section 3) (8 U.S.C.1153(h))
Current Provision in INA, section 203(h)
�RULES FOR DETERMINING WHETHER CERTAIN ALIENS ARE CHILDREN-
(1) IN GENERAL- For purposes of subsections (a)(2)(A) and (d), a determination of whether an alien satisfies the age requirement in the matter preceding subparagraph (A) of section 101(b)(1) shall be made using--
(A) the age of the alien on the date on which an immigrant visa number becomes available for such alien (or, in the case of subsection (d), the date on which an immigrant visa number became available for the alien's parent), but only if the alien has sought to acquire the status of an alien lawfully admitted for permanent residence within one year of such availability; reduced by
(B) the number of days in the period during which the applicable petition described in paragraph (2) was pending.
(2) PETITIONS DESCRIBED- The petition described in this paragraph is--
(A) with respect to a relationship described in subsection (a)(2)(A), a petition filed under section 204 for classification of an alien child under subsection (a)(2)(A); or
(B) with respect to an alien child who is a derivative beneficiary under subsection (d), a petition filed under section 204 for classification of the alien's parent under subsection (a), (b), or (c).
(3) RETENTION OF PRIORITY DATE- If the age of an alien is determined under paragraph (1) to be 21 years of age or older for the purposes of subsections (a)(4) and (d), the alien's petition shall automatically be converted to the appropriate category and the alien shall retain the original priority date issued upon receipt of the original petition.''
Explanation
The references to �(a)(2)(A)� refers to principal beneficiaries and �(d)� refers to derivative beneficiaries. Subsection (1) provides a calculation to be considered a child under the family-based preference categories in light of USCIS processing delays. Subsection (2) describes the types of petition covered, ensuring beneficiaries, whether principal or derivative, are treated as a child under 21. Subsection (3) is another useful provision so that if the calculation of a beneficiary renders them over 21, they can retain the priority date of the original petition.
Problems
The language of this provision has rendered the provision open to ambiguity. Specifically, subsection (3) states the �alien�s petition shall be automatically be converted to the appropriate category and the alien shall retain the original priority date issued upon receipt of the original petition.� The problem is in relation to a derivative beneficiary (which is covered by this subsection) and is twofold. First, by its nature of being a derivative, a derivative beneficiary does not have an original application to speak of. Only the parent has a petition, which has caused the ambiguity. A Board of Immigration (BIA) decision did provide a common sense interpretation (Garcia, Maria T, File A79-001-587, June 16, 2006), but this is not binding on the USCIS and we know first hand that the USCIS has not consistently interpreted the provision in accordance with the BIA decision. Second, although the above mentioned BIA decision clarifies the provision also applies to F4 derivative beneficiaries, these petitions do not automatically convert. An F4 derivative beneficiary who ages still must wait for their Parent to file a new I-130 form, which is inconsistent with the language of the provision.
Another problem is if the new proposed points system is implemented, any person who ages out will no longer have a direct basis for immigration. Instead they would have to qualify under a points system, which is not guaranteed. This new system would make the above provisions redundant.
Solutions
The Need for a Compassionate Visa
A compassionate visa is immediately required for reasons of humanity and dignity. Currently, because of the technicalities of US immigration laws many families torn apart are also subject to more degrading treatment at times of severe illness. Any provision should allow for the following:
* US residents, including those who are landlocked, to leave the USA for any necessary period for compassionate reasons;
* Non-US residents to enter the USA for any necessary period for compassionate reasons on a nonimmigrant basis;
* Evidence of immigrant intent should not prevent a person receiving a compassionate visa (such as an existing immigrant petition), unless an applicant makes it absolutely clear their intention is to immigrate and not to enter the USA on a temporary basis;
* To prevent abuse of such a visa, documentary evidence should be required as appropriate to ensure the application is made in good faith; and
* Compassionate visa processing should be dealt with the USCIS for US residents and in the consular office for non-US residents on an expedited basis if the imminent death of a close relative or funeral arrangements for a deceased relative is at issue.
INA, section 203(h) (as inserted by the Child States Protection Act, section 3) (8 U.S.C.1153(h))
Current Provision in INA, section 203(h)
�RULES FOR DETERMINING WHETHER CERTAIN ALIENS ARE CHILDREN-
(1) IN GENERAL- For purposes of subsections (a)(2)(A) and (d), a determination of whether an alien satisfies the age requirement in the matter preceding subparagraph (A) of section 101(b)(1) shall be made using--
(A) the age of the alien on the date on which an immigrant visa number becomes available for such alien (or, in the case of subsection (d), the date on which an immigrant visa number became available for the alien's parent), but only if the alien has sought to acquire the status of an alien lawfully admitted for permanent residence within one year of such availability; reduced by
(B) the number of days in the period during which the applicable petition described in paragraph (2) was pending.
(2) PETITIONS DESCRIBED- The petition described in this paragraph is--
(A) with respect to a relationship described in subsection (a)(2)(A), a petition filed under section 204 for classification of an alien child under subsection (a)(2)(A); or
(B) with respect to an alien child who is a derivative beneficiary under subsection (d), a petition filed under section 204 for classification of the alien's parent under subsection (a), (b), or (c).
(3) RETENTION OF PRIORITY DATE- If the age of an alien is determined under paragraph (1) to be 21 years of age or older for the purposes of subsections (a)(4) and (d), the alien's petition shall automatically be converted to the appropriate category and the alien shall retain the original priority date issued upon receipt of the original petition.''
Explanation
The references to �(a)(2)(A)� refers to principal beneficiaries and �(d)� refers to derivative beneficiaries. Subsection (1) provides a calculation to be considered a child under the family-based preference categories in light of USCIS processing delays. Subsection (2) describes the types of petition covered, ensuring beneficiaries, whether principal or derivative, are treated as a child under 21. Subsection (3) is another useful provision so that if the calculation of a beneficiary renders them over 21, they can retain the priority date of the original petition.
Problems
The language of this provision has rendered the provision open to ambiguity. Specifically, subsection (3) states the �alien�s petition shall be automatically be converted to the appropriate category and the alien shall retain the original priority date issued upon receipt of the original petition.� The problem is in relation to a derivative beneficiary (which is covered by this subsection) and is twofold. First, by its nature of being a derivative, a derivative beneficiary does not have an original application to speak of. Only the parent has a petition, which has caused the ambiguity. A Board of Immigration (BIA) decision did provide a common sense interpretation (Garcia, Maria T, File A79-001-587, June 16, 2006), but this is not binding on the USCIS and we know first hand that the USCIS has not consistently interpreted the provision in accordance with the BIA decision. Second, although the above mentioned BIA decision clarifies the provision also applies to F4 derivative beneficiaries, these petitions do not automatically convert. An F4 derivative beneficiary who ages still must wait for their Parent to file a new I-130 form, which is inconsistent with the language of the provision.
Another problem is if the new proposed points system is implemented, any person who ages out will no longer have a direct basis for immigration. Instead they would have to qualify under a points system, which is not guaranteed. This new system would make the above provisions redundant.
Solutions
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susie
07-06 12:01 AM
Ref cspa and age outs
I have a lawsuit filed for cspa and awaiting outcome
Suing Attorney General, Goeff Gorsky head of VO opinions section at dept of state, Evelyn Upchurh of TSC
They have 60 day to reply from end March 07, then requested additonal 30 days which my immigration attorney agreed to for professional ethics.
So we were at 90 at end Jun 07 and the day before the lawyer for attorney engeral called my lawyer,
Apparently my case file is very thin and as of that Date Geoff Gorsky had not replied to his own attorney!! Their attorney has requesed yet another 30 days and stated on the phone to my lawyer that he wants a resolution to my sons case. For more info go to www.expatsvoice.org
But will update here when I get any news
I have a lawsuit filed for cspa and awaiting outcome
Suing Attorney General, Goeff Gorsky head of VO opinions section at dept of state, Evelyn Upchurh of TSC
They have 60 day to reply from end March 07, then requested additonal 30 days which my immigration attorney agreed to for professional ethics.
So we were at 90 at end Jun 07 and the day before the lawyer for attorney engeral called my lawyer,
Apparently my case file is very thin and as of that Date Geoff Gorsky had not replied to his own attorney!! Their attorney has requesed yet another 30 days and stated on the phone to my lawyer that he wants a resolution to my sons case. For more info go to www.expatsvoice.org
But will update here when I get any news
more...
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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.)
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chanduv23
11-17 02:26 PM
Pardon my ignorance, but is this something we can ask clarification from CIS Ombudsman? Its real confusing:confused:
Some updates: I talked to two different lawyers and both advised differently on this issue. In fact I got the impression that one of them didn't have much clue as much as some experienced IV members have. (He said if job titles are different than you have issues...) There are many people hanging on to their current employer due to confusion on this issue and potential effect on pending GC.
and the great question continues to haunt: can a person keep working legally on EAD status if his/hers I-485 gets revoked in error by CIS? or he will be forced to resign from a new job when his MTR is being filed or in progress??? This is really killing me. Who has the answer? if anyone knows, please please share!
lazycis, chanduv - anyone to comment on above new information???
My blog was based on Attorney Rajiv Khanna's interpretation. We need to definitely nail this out. Any experts?
Some updates: I talked to two different lawyers and both advised differently on this issue. In fact I got the impression that one of them didn't have much clue as much as some experienced IV members have. (He said if job titles are different than you have issues...) There are many people hanging on to their current employer due to confusion on this issue and potential effect on pending GC.
and the great question continues to haunt: can a person keep working legally on EAD status if his/hers I-485 gets revoked in error by CIS? or he will be forced to resign from a new job when his MTR is being filed or in progress??? This is really killing me. Who has the answer? if anyone knows, please please share!
lazycis, chanduv - anyone to comment on above new information???
My blog was based on Attorney Rajiv Khanna's interpretation. We need to definitely nail this out. Any experts?
more...
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for_gc
12-26 02:53 PM
Not sure good or bad. but this is sure some news.
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Ramba
09-08 12:34 PM
Well said. On top of all this, there is a huge social pressure on NRIs from Indian parents/relatives to buy a property in India. It goes like this, if Hari, Babu and Kanwal all have it, why don't you buy something in Delhi as well. Now builders have started talking in terms of crores. You call them and ask the price, they would say "point six", means zero point six crores (for 1200 sq ft 2 BHK). There is no way on this earth someone should pay that much for 1200 sq ft in Noida/Delhi/Anywhere in India.
My advise, let people, relatives say what they want to say. This market is bound to come down. Just wait and see. Thank you.
Yes. 0.6 crore for 2b apt is way too much. If you put little more money here in TX, you can buy a manson (4/5 bed room independent house) with swiming pool. However, one can not ignore the advise of having property/house in home country, for many other reasons. But the price should be reasonable/cost worthy.
My advise, let people, relatives say what they want to say. This market is bound to come down. Just wait and see. Thank you.
Yes. 0.6 crore for 2b apt is way too much. If you put little more money here in TX, you can buy a manson (4/5 bed room independent house) with swiming pool. However, one can not ignore the advise of having property/house in home country, for many other reasons. But the price should be reasonable/cost worthy.
more...
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flthere
08-12 02:13 PM
I'd say that some small-medium companies either in India or the 50-50 US bodyshops will happily ask the prospective-H1b to pay up Rs. 1,00,000 towards Schumer's fees :D
Anyways, most of these bodyshops in US collect H1b fees from the applicants in India, right ?
Infy, TCS, Satyam etc., will hire more janitors to bring their H1b/L1 % in US :D Or even buyout janitorial services companies :)
Anyways, most of these bodyshops in US collect H1b fees from the applicants in India, right ?
Infy, TCS, Satyam etc., will hire more janitors to bring their H1b/L1 % in US :D Or even buyout janitorial services companies :)
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satyasaich
07-15 01:10 PM
Here is my pledge.
If $2000 is reached today, i will send another $50 today.
(Fyi, i've already sent$50 yesterday)
Satya
Thanks SkilledWorker4GC !
Any one else would like to pledge just 5 $ when we reach 2000 $
Bestofall
PD March 2005 India
485 Applied Jul2 2007
If $2000 is reached today, i will send another $50 today.
(Fyi, i've already sent$50 yesterday)
Satya
Thanks SkilledWorker4GC !
Any one else would like to pledge just 5 $ when we reach 2000 $
Bestofall
PD March 2005 India
485 Applied Jul2 2007
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vadicherla
05-28 02:27 PM
i will contribute 50$ now
contributed 350$ so far
contributed 350$ so far
Sakthisagar
02-24 01:15 PM
As Ron Gotcher (imminfo.com) predicted Jobs bill passed at Senate.
Senate Votes 70-28 to Approve $15 Billion Jobs Bill
Though modest in scope, the bill was hailed by Democrats as evidence that the parties could work together.
Read Further.
Senate Votes 70-28 to Approve $15 Billion Jobs Bill - NYTimes.com (http://www.nytimes.com/2010/02/25/us/politics/25jobs.html?partner=rss&emc=rss)
Senate Votes 70-28 to Approve $15 Billion Jobs Bill
Though modest in scope, the bill was hailed by Democrats as evidence that the parties could work together.
Read Further.
Senate Votes 70-28 to Approve $15 Billion Jobs Bill - NYTimes.com (http://www.nytimes.com/2010/02/25/us/politics/25jobs.html?partner=rss&emc=rss)
Macaca
09-12 04:04 PM
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Spencer Hsu: hsus@washpost.com *
David Ignatius: davidignatius@washpost.com *
S Mitra Kalita: kalitam@washpost.com *
Paul Kane
Cecilia Kang
Charles Krauthammer: letters@charleskrauthammer.com *
Howard Kurtz: kurtzh@washpost.com *
Ernesto Londo�o
Sebastian Mallaby: smallaby@cfr.org *
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