I personally know couple of guys buying resale flats at prices that are same as new flats. When asked how are they convinced of the price , they replied - RATES..in that area.

These morons bought 20 years old apartments (in another 10 years will go into redevelopment) at prevailing prices - no lift, no automated toilet flush, old style plumbing , exposed wiring and so on.
I mean how can people be so naive and stupid.

Does the 'RATES' as puiblicized is the only factor that matters ? How about this frigid thing called 'LIFE' ? Dont you want to live a comfortable life ? Or just look at an apartment like a tijori to be 'appreciated' after 10 years ?

These idiots ( my friends) are ready to shell out 10 years of their life for APPRECIATION OF THEIR PROPERTY. They say, after 10 years it will fetch good money with which they would buy a new house. I just rested mycase. cos these morons do not understand the value of 10 years life spent is a bog waiting for a new house - because BROKER SAID so.
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  • well there is a popular saying, a fool and his money are soon parted :D
  • Well, the guys who buy "old apts" have few aces up the sleeve which may not be obvious up-front...old aptarments have:-
    01. better layout or bigger room size
    02 have "unused" FSI which will get converted to additional rooms in future
    03. the social infrastructure may be better
    04. nieghborhood (dis) reputation is known in advance
    05. friends / family in neighborhood gives "comfy" feeling

    well, i think each one has there own reasons to buy a house - new or old - depends...