I have a feeling that Agnibikram desperate needs to sell some land rightnow. Did you really get the job, dude?

Yes, people have gone abroad, and the land price has gone up by 10 times already. Banks are literally crying now. Jagga Dalals have committed suicide by jumping off from the top of buildings or swallowing metacids. They are begging with Rashtra Bank to reduce the land credit ceiling.

All you have to do is a simple math. If you have 1 crore now, you get 1 lakh per month if you keep it in the bank. How much do you get when you buy a house? Until the rent of a house goes up, I don't see how such a huge land/house price can be justified. 

And, no, NRNs who go to arab/gulf are from outside district. They send money (which is in thousands or some lakhs) to their own districts. They teach their own kids. KTM people are may be in USA, but they are unlikely to send money at this stage. Frankly, I haven't seen anyone in the states lately who said, 'oh, gee, landprice/houseprice in KTM are low, I am going to buy it rightnow.' People with that kind of money can find better houses worth investment here.

The reality is houses are not being sold, land is not being sold, and the price , using logic, will go down.