Letter to Prime Minister Manmohan Singh

Respected Sir,

"A desperate starving man will always pay more for a meal than a well fed fat man"

I am writing this letter out of desperation, because, the housing sector in Mumbai is heading towards a catastrophic human disaster. Why are NRIs/Non-Indian nationals’/Corporations/Indian Investors ("Sharks") being allowed a free run in Indian housing sector? Since when did the housing sector start to become a commodity that could be sold in an auction-like manner?

Sir, I am salaried class person, part of the value-industry that is bringing dollars to India. I paid about 1/3 million rupees in taxes with an effective tax rate of 28% this year. Even for me to buy a modest 850 sq. ft. flat in Mumbai means having to part with more than 50% of my gross monthly income! What happens to my family which has old-parents, wife and kids (planned), and their modest aspirations to a good life? If I face such issues what can I say about others who are not-so-lucky?

Sir, the situation is quite obvious, Indian population has always had a very-high demand for housing. The supply, albeit, has never quite kept pace. To make matters worse now, the demand is now further increased due to buying by these "Sharks", merely for the sake of Investment. Sir, this demand from outside India is not because of any other factor but due to the statement I made above. The "Sharks" has his eyes on the starvation that an ordinary Indian has towards affordable housing in a country like ours and is quite content to "invest" his easy money into our cities and block housing units for years at end till they earn a good return.

Sir, is this right for India? Should we allow the starvation of the country become a driving force for some investors' investment greed? Why have they not participated in Indian Infrastructure projects, why isn’t a NRI willing to dedicate 6 months of his services to India, surely it is going to reward him well, but I think the answer lies in a simple fact, they probably don’t care!

Sir, my only request to you is to not look at the Housing Sector with an Economics or Trade viewpoint, rather this subject needs to be given a Humanitarian and Socialist ear and mind.

Sir, to conclude, I would just ask you this: What would've Mahatma Gandhi done if he was to see the ground realities of the shameful greed on show in the housing sector of this country?

My sincere regards to you!

Yours' Truly