## Colophon tags:: url:: https://www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate date:: [[]] %% title:: The ‘Coldplay effect’ of Indian real estate type:: [[clipped-note]] author:: [[@newslaundry.com]] %% ## Notes > The ‘Coldplay effect’ of Indian real estate — [view in context](https://hyp.is/E1t8ZuUyEe-1lyfCv0dXxA/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) date:: [[2025-02-07]] > Well, Pink Floyd has been quite popular in engineering college hostels over the decades. Students who are likely to live reasonably comfortable lives thanks to their education would nevertheless blast the song We Don’t Need No Education over and over again. — [view in context](https://hyp.is/Kt3zUOUyEe-0OXt5ivhpSg/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) 😂 > And, of course, any Indian who thinks in English and was born before 1995 has, in all probability, heard of Bryan Adams’s Summer of ‘69 which, if you listen very carefully, especially towards the end, isn’t really a song about the summer of 1969. — [view in context](https://hyp.is/UEKC3OUyEe-Au79QFPUh7g/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) No need to attack us, Vivek. > a lot of those who think in English — [view in context](https://hyp.is/iJeS0OUyEe-xYZfTdPix-g/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) > As G Hari Babu, president of the National Real Estate Development Council told The Indian Express in June 2024: “There are 1.14 crore vacant flats [in India].” And this is not a recent problem. In 2015, Anshuman Magazine, then chairman and managing director of CBRE South Asia, a real estate consultant, had said: “Despite a housing shortage, around 1.02 crore completed houses are also lying vacant across urban India.” — [view in context](https://hyp.is/7tQS7uUyEe-8XzNBfehorA/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) Do we have any estimation of what this might be in percentage terms? > In fact, on a side note, this is an impact of the huge income inequality that prevails in India. The super rich have a lot of money to throw around and, beyond a point, don’t know what to do with it. So, they keep buying more and more flats and other forms of property. In that sense, it’s a game of passing the parcel that they keep playing with each other. And builders, due to various reasons, also keep addressing only this small section of the market. — [view in context](https://hyp.is/CY-AtOUzEe-EsFc1-kKubw/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) > Of course, all this is also a matter of mental conditioning as well: Mental bubbles are much more stronger than investment ones. — [view in context](https://hyp.is/ZL6X9OUzEe-qPgPSR17IMg/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) > The ‘Coldplay effect’ of Indian real estate — [view in context](https://hyp.is/E1t8ZuUyEe-1lyfCv0dXxA/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) - Annotation: date:: [[2025-02-07]]> Well, Pink Floyd has been quite popular in engineering college hostels over the decades. Students who are likely to live reasonably comfortable lives thanks to their education would nevertheless blast the song We Don’t Need No Education over and over again. — [view in context](https://hyp.is/Kt3zUOUyEe-0OXt5ivhpSg/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) - Annotation: 😂> And, of course, any Indian who thinks in English and was born before 1995 has, in all probability, heard of Bryan Adams’s Summer of ‘69 which, if you listen very carefully, especially towards the end, isn’t really a song about the summer of 1969. — [view in context](https://hyp.is/UEKC3OUyEe-Au79QFPUh7g/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) - Annotation: No need to attack us, Vivek.> a lot of those who think in English — [view in context](https://hyp.is/iJeS0OUyEe-xYZfTdPix-g/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) > As G Hari Babu, president of the National Real Estate Development Council told The Indian Express in June 2024: “There are 1.14 crore vacant flats [in India].” And this is not a recent problem. In 2015, Anshuman Magazine, then chairman and managing director of CBRE South Asia, a real estate consultant, had said: “Despite a housing shortage, around 1.02 crore completed houses are also lying vacant across urban India.” — [view in context](https://hyp.is/7tQS7uUyEe-8XzNBfehorA/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) - Annotation: Do we have any estimation of what this might be in percentage terms?> In fact, on a side note, this is an impact of the huge income inequality that prevails in India. The super rich have a lot of money to throw around and, beyond a point, don’t know what to do with it. So, they keep buying more and more flats and other forms of property. In that sense, it’s a game of passing the parcel that they keep playing with each other. And builders, due to various reasons, also keep addressing only this small section of the market. — [view in context](https://hyp.is/CY-AtOUzEe-EsFc1-kKubw/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate) > Of course, all this is also a matter of mental conditioning as well: Mental bubbles are much more stronger than investment ones. — [view in context](https://hyp.is/ZL6X9OUzEe-qPgPSR17IMg/www.newslaundry.com/2025/02/07/the-coldplay-effect-of-indian-real-estate)