Prices doubled from 2009...enough said....
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  • :) Agree on this one...u just have to dig on some threads of this forum to believe how bears keep saying it is not good price and it shud reduce further when the bottom and highs keep getting higher..i must say it is peak at the moment for pune..i cant imagine prices getting higher with this rates..but i dont think there will be drastic correction..may be at the most 25% ..not 50%..but even with 25% reduction..some veteran members will remain cynical..just like they have been for last 10 years maybe..

    Originally Posted by stoxxx
    Well said. So called bears here give examples from lack of infra to reduction in FDI. As I call these are not bears but Crash Mongers and the philosophy is 'do nothing'. This is proven by the fact the 'RE bulls theory proven wrong' was started and vehemently argued in 2009 when it was one of the best times to buy RE. So even if prices come down these guys would gun for further price reduction.

    One of my colleague never invested in stocks since when SEN was at 2000. And he has been always waiting for SEN to come down / crash by 50% ever since it went above 14000. With his luck it actually came below 9000. But he did not buy because then he said fair value is 5000 and then kept siting various newspaper articles, links and the usual deflation stories. So when he should have bought he kept arguing how he was right and now again he is back to wishful thinking that it will come down again. I am not sure whether he will buy even if it crashes to those levels again as it has become his second nature to 'do nothing'. He spends most of his time discouraging people buying shares in Indian stock markets with stories ranging from INR appreciation to corporate governance issues. He has sizeable amount waiting in cash for past few years waiting to be deployed for best opportunity. Where as I think it is best to SIP and buy when you can, within your means whichever asset class. There are opportunities in every market.
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  • Anonymous post from India's Housing bubble

    Someone on the India housing bubble ( a housing bearish blog) came up with an unusual perspective on RE price, which I reproduce below:

    Societies with massive corruption and underworld crime typically have very high housing prices. There’s really nothing that can be done about it. You can’t expect a crash in such markets. Look at the facts.

    House prices are intolerable in the following cities:

    1. Bogota (Colombia)
    2. Luanda (Angola)
    3. Lagos (Nigeria)
    4. Moscow
    5. Karachi, Islamabad (the dump in Abbottabad where scumbag Bin Laden was found cost over 1 million USD).
    6. Vancouver (huge druglord/criminal underclass with plenty of cash).
    7. Caracas (Venezuela)
    8. Rio de Janeiro (Brazil)
    9. Sao Paulo (Brazil)
    10. Indian cities
    11. I can go on and on…

    Guess what all these cities have in common? Massive corruption at all levels, a privileged ruling class that uses state coffers as their own piggy bank, a state-enabled thugocracy and a large criminal underclass swimming in black money.

    NONE of these places have had any significant correction in real estate prices since the crisis began. Yep, the so called economic crisis of 2008, the Great Recession, the Greater Depression, whatever you want to call it, has not put a DENT, no, not even a teeny-weeny dent on real estate prices whatsoever. In fact, real estate prices have gone UP following one of the greatest deflationary periods in human history!

    What are the chances that real estate prices are going to go down NOW meaningfully in these places? I’m sorry to say this, but the chances are well near ZERO.

    Real estate prices may revert to mean following bubbles in countries with honest governments, equitable law enforcement and a civilized populace like the UK, US or Spain, but certainly not in India.

    Yeah, it really is different this time... only not in the way you think.

    (from India's housing bubble
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  • Originally Posted by Venkytalks
    Someone on the India housing bubble ( a housing bearish blog) came up with an unusual perspective on RE price, which I reproduce below:

    Societies with massive corruption and underworld crime typically have very high housing prices. There’s really nothing that can be done about it. You can’t expect a crash in such markets. Look at the facts.

    House prices are intolerable in the following cities:

    1. Bogota (Colombia)
    2. Luanda (Angola)
    3. Lagos (Nigeria)
    4. Moscow
    5. Karachi, Islamabad (the dump in Abbottabad where scumbag Bin Laden was found cost over 1 million USD).
    6. Vancouver (huge druglord/criminal underclass with plenty of cash).
    7. Caracas (Venezuela)
    8. Rio de Janeiro (Brazil)
    9. Sao Paulo (Brazil)
    10. Indian cities
    11. I can go on and on…

    Guess what all these cities have in common? Massive corruption at all levels, a privileged ruling class that uses state coffers as their own piggy bank, a state-enabled thugocracy and a large criminal underclass swimming in black money.

    NONE of these places have had any significant correction in real estate prices since the crisis began. Yep, the so called economic crisis of 2008, the Great Recession, the Greater Depression, whatever you want to call it, has not put a DENT, no, not even a teeny-weeny dent on real estate prices whatsoever. In fact, real estate prices have gone UP following one of the greatest deflationary periods in human history!

    What are the chances that real estate prices are going to go down NOW meaningfully in these places? I’m sorry to say this, but the chances are well near ZERO.

    Real estate prices may revert to mean following bubbles in countries with honest governments, equitable law enforcement and a civilized populace like the UK, US or Spain, but certainly not in India.

    Yeah, it really is different this time... only not in the way you think.

    (from India's housing bubble


    Venky,

    The post kind of makes sense, given that RE is probably the best place for black money to be invested. Also, given the sorry state of laws governing land and RE in these areas, this is obvious.

    However, I don't agree to a fundamental point this post is trying to make, that crash is impossible in these places. Here on iref, most people have admitted that Indian RE is not at the point where we are expecting a crash. Expectation of a 10-15% correction cannot be called as wishful thinking of a crash.

    The entire hue and cry everybody is making is that people are forced to buy shoddy RE for exorbitant prices in far flung areas where basic amenities are not present.

    I'm sure you'll agree. Anyways, the post was quite a different take. Thanks for that.
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  • Originally Posted by Venkytalks
    Someone on the India housing bubble ( a housing bearish blog) came up with an unusual perspective on RE price, which I reproduce below:

    Societies with massive corruption and underworld crime typically have very high housing prices. There’s really nothing that can be done about it. You can’t expect a crash in such markets. Look at the facts.

    House prices are intolerable in the following cities:

    1. Bogota (Colombia)
    2. Luanda (Angola)
    3. Lagos (Nigeria)
    4. Moscow
    5. Karachi, Islamabad (the dump in Abbottabad where scumbag Bin Laden was found cost over 1 million USD).
    6. Vancouver (huge druglord/criminal underclass with plenty of cash).
    7. Caracas (Venezuela)
    8. Rio de Janeiro (Brazil)
    9. Sao Paulo (Brazil)
    10. Indian cities
    11. I can go on and on…

    Guess what all these cities have in common? Massive corruption at all levels, a privileged ruling class that uses state coffers as their own piggy bank, a state-enabled thugocracy and a large criminal underclass swimming in black money.

    NONE of these places have had any significant correction in real estate prices since the crisis began. Yep, the so called economic crisis of 2008, the Great Recession, the Greater Depression, whatever you want to call it, has not put a DENT, no, not even a teeny-weeny dent on real estate prices whatsoever. In fact, real estate prices have gone UP following one of the greatest deflationary periods in human history!

    What are the chances that real estate prices are going to go down NOW meaningfully in these places? I’m sorry to say this, but the chances are well near ZERO.

    Real estate prices may revert to mean following bubbles in countries with honest governments, equitable law enforcement and a civilized populace like the UK, US or Spain, but certainly not in India.

    Yeah, it really is different this time... only not in the way you think.

    (from India's housing bubble



    So you mean to say that in yrs 1990 - 2003 city like Pune was not that much corrupt as the prices were ok
    THEY saw corrections too ...aah that was BJP Govt....
    and in last 6 yrs it has become most corrupt and so due to this the prices have increased and will never go down....... humm seems Congress is responsible ...

    no wonder they hacked EVM and again got reelected.....

    Seems I and many were under wrong impression that it was due to IT growth .. which propelled a Retiree's TOWN in india's IT map.

    And even if in next 6 yrs Just in case all the IT companies shut downs the prices will remain the same ...although 50% of these launches will be in Lock?


    And the Recent survey puts other cities(Bangalore etc) with declining prices .... so they are less corrupt and Pune increase so its moving towards more corruption ...

    Among the cities that witnessed a correction, the sharpest was recorded by Bangalore at 17.6 per cent, followed by Kochi at 14.92 per cent. Faridabad was next at 6.37 per cent and Hyderabad 4.6 per cent. Surat, Bhopal and Jaipur had price corrections of 3.76 per cent, 3.55 per cent and 2.63 per cent respectively.
    http://www.indianexpress.com/news/NHB-Residex-records-correction-in-seven-cities/811671/


    No wonder Pune Mayor receiving award from President ......

    Pune Municipal Corporation among best managed bodies - Mumbai - DNA

    what a joke ....

    A city rated at the top in accidents, worst traffic .... ... and its managing body is called best managed :D
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  • Originally Posted by frugality
    So you mean to say that in yrs 1990 - 2003 city like Pune was not that much corrupt as the prices were ok
    THEY saw corrections too ...aah that was BJP Govt....
    and in last 6 yrs it has become most corrupt and so due to this the prices have increased and will never go down....... humm seems Congress is responsible ...

    no wonder they hacked EVM and again got reelected.....

    Seems I and many were under wrong impression that it was due to IT growth .. which propelled a Retiree's TOWN in india's IT map.

    And even if in next 6 yrs Just in case all the IT companies shut downs the prices will remain the same ...although 50% of these launches will be in Lock?


    And the Recent survey puts other cities(Bangalore etc) with declining prices .... so they are less corrupt and Pune increase so its moving towards more corruption ...

    Among the cities that witnessed a correction, the sharpest was recorded by Bangalore at 17.6 per cent, followed by Kochi at 14.92 per cent. Faridabad was next at 6.37 per cent and Hyderabad 4.6 per cent. Surat, Bhopal and Jaipur had price corrections of 3.76 per cent, 3.55 per cent and 2.63 per cent respectively.
    NHB Residex records correction in seven cities - Indian Express


    No wonder Pune Mayor receiving award from President ......

    Pune Municipal Corporation among best managed bodies - Mumbai - DNA

    what a joke ....

    A city rated at the top in accidents, worst traffic .... ... and its managing body is called best managed :D


    1999-2003....those days are gone forever....please don't be disillusioned about it....

    I dont think even staunches bear think we'll ever get 2003 prices....

    As far IT of course IT has a major influence on the RE market in Pune.

    But what I think Venkytalks is saying that having those prices gone up so much they are now sustained or further in inflation spiral because of corruption since it is not free market.

    Remember higher the growth more the corruption in countries like India. Politicians and authorities get more money to play with and become stronger.

    Today builders have so much money in their personal account (and that is another problem they have swindled money from their so called RE companies or not shown profit / assets for tax purpose). They can wait and hold almost forever.

    I've a friend who wants to buy flat in one of the societies in Pune where another of my friend lives. There are few investor held flats. He is ready to pay market price (in fact a little more because he needs it in that society due to strong personal reasons), immediate payment but no one is ready to sell.
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  • An email circulation which I received:

    No one to bribe, therefore no investment ARCHIVES | EQUITYMASTER HOMEPAGE09th July 2011
    For the past few months there has been some data that is worrying a lot of people. The respected CMIE notes that the decline in capital expenditures by India, Inc is disturbing. After all, future GDP growth depends on investments made today.

    Mr. Deepak Parekh, the respected business leader who has been "known to call a spade a spade" (source: Times of India) says that "I have been told by several large industrial houses that they are now looking at investing abroad as it's much easier. Their aim or strategy is to now have 50% of their turnover from abroad. Take the top five to seven group - the Tatas, Birlas, Ambanis, Ruias...Some have already achieved their target...These are industrialists who have established their reputation, capacity and stature in India. "

    Mr. Parekh went on to rightly question the rationale of investing abroad when there is demand in India. But I have a few issues with this statement and some of the examples of the business houses quoted.

    Is the "reputation" they have established good or bad?

    Is the stature being referred to classified as "good" by some ranking of the richest industrial families or are we referring to their stature in terms of people who have helped build a more fair and transparent India?

    The end may be more important than the means to some - but the means may be equally important to many others.

    Business is free to go where it wishes to - and we should not stop it from investing there where it wishes to establish its reputation, capacity, and stature. Countries who wish to host them are welcome to do so.

    Goldman Sachs, Merrill Lynch, Morgan Stanley, Citibank, J P Morgan - and many other Wall Street firms and banks - have established their reputation, capacity, and stature in the USA. Their business plan is simple: they mug an investor, whack his wallet then end up paying fines in a settlement (if they are caught) with their host regulators. On July 7th, J. P. Morgan agree to pay a fine of USD 228 million in settlement of accusations that it was rigging the US municipality bond market. The fine, the article noted, "will have no material impact on the firm's earnings". Nor will this have an impact on most parents' desire to have their children work with J. P. Morgan.

    Every time I meet a proud parent of an NRI living in the USA they happily proclaim how proud they are that their son or daughter is working with one of these infamous firms. Maybe they, too, one day will see the movie "The Inside Job" and realise that most of these businesses are basically built on questionable practices. Maybe, after watching "The Inside Job", these proud parents will ask their children to quit their jobs and petition the regulators to protect their own citizens from the fee-generation business plans of these financial geniuses. Or, like many of us who get blinded by some wealth ranking statistic, they will hold the industrial equivalents of the financial firms in high esteem and continue to highlight the "reputation" and "stature" of these firms.

    But, while statements of "stature" and "reputation" are subjective the data from CMIE is a dose of hard, cold facts.

    Capex and corruption

    In an article carried in the Financial Express on May 3, 2011 Mahesh Vyas - the MD and CEO of CMIE and a person I respect a lot - pointed out a "deceleration in the pace of announcements of new investments". As Table 1 shows, India Inc and all its high stature business leaders seemed to be frightened about announcing new investments.


    Table 1: A sharp decline in announcements of new investments.Quarter ended31-Mar-1131-Dec-1030-Sep-10Average of the 3 quarters (Sept 30, 2010 to March 31, 2011)Average of the 3 quarters (Dec 31, 2009 to June 30, 2010)Capital investments announced (in Rs trillion)2.632.923.5735.8
    Source: CMIE, Financial Express
    The second disturbing sign that Mr Vyas highlights is the decline in the completion of projects (see Table 2). Also, if the completion of projects stays at Rs 2.63 trillion range, this would be the first time since 2004 when there is an actual decline in the year-on-year investment by India Inc.


    Table 2: India Inc completes fewer projects than it announcesYear-ending31-Mar-1131-Mar-10Projects announced (Rs trillion)8NAProject completion expected by CMIE (Rs trillion)6.5NAActual completion (Rs trillion)2.633.84
    Source: CMIE, Financial Express
    The third point brought out by CMIE is "the sudden rise in projects abandoned in the March 2011 quarter". As Table 3 indicates, at Rs 516 billion, the projects abandoned were over 2x the normal rate of projects cancelled. Mr. Vyas does note that most of these cancellations are in the real estate and SEZ areas.


    Table 3: India Inc gives up on projects at an alarming rate.Year-ending31-Mar-11Average for most quartersProjects abandoned (Rs billion)516250
    Source: CMIE, Financial Express
    So, is it time to bail out of the long-term India story? If there is no capex, there will be no job creation, and if there is no job creation, the 120 million young people looking for jobs by the year 2025 will not be a happy lot. Chances are they will happily sign up for Baba Ramdev's army or be willing - and natural - volunteers in any fast unto death programme!

    Was past capex driven by corruption?

    CMIE does not feel that things are that bad. They note that revenues are growing by 20% in general and that net profit margins are a healthy 8%. Good enough incentive to get corporate India to move ahead with its investment programme.

    Obviously, the industrial houses - based on the comments by Mr. Parekh - have a different take. They have no incentive to invest in India. There is uncertainty. There is no clarity. They are people of stature and reputation and can take their money anywhere.

    Maybe Corporate India ko gussa aata hey because they no longer know who to bribe.

    And they are not sure if the person they bribe will be in power to follow through on the deal.

    The timing of the slowdown is interesting. Over the past year we have had the Adarsh housing scam. The CWG sports event. The Nadia tapes. The 2-G scam. Just to name a few.

    There are now investigations and queries into the hydrocarbon ministry. There was the incident of 16 bubble-gums hanging around the Finance Minister's office - supposedly places to plant bugs to listen into conversations. We have 2 Ministers sitting in jail. Many more bureaucrats, industrialists, and CEOs are also being denied bail.

    In addition to Jairam Ramesh trying hard to protect the national resources and the tribal assets, the Supreme Court is ordering land stolen by governments and passed on to real estate developers to be returned to the villagers. And the Supreme Court wants a definitive trail on the black money issue.

    In such an environment, which of our industrialists who have "established their reputation, capacity, and stature in India" would have the guts to announce or implement capacity? Their skill set of bribing their way through the system is in danger of being extinct. Most of our industrialists have surely added to capacity - but they have also helped to make our society and our system more corrupt. Let them take those skill sets to other countries, if they don't have the determination to work in a cleaner environment.

    As Mr. Vyas notes in his concluding paragraph: "It is better that India Inc battles issues related to proper land acquisition, environmental clearances and graft rather than worry about a liquidity crunch."

    Indeed, stop whining Mr Corporate India. Stop complaining about the RBI raising interest rates because that is not the real cause of the slowdown. Just admit that while you may be individually happy to light a candle for Anna Hazare's cause, if corruption was to decline, you would stand exposed for what you have become. And it will not be a pretty sight.
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  • I dont know why the new members think 2 years passed of a slight increase in rates in 2009 was an excellent oppurtunity.

    I have been saying all the way - the rates WILL not drop or INCREASE more than 20-30% till 2014-2015 from 2008 rates.

    I consider the peak to be in 2007-2008, and with a 7-10 year RE estate cyle, inflation adjusted, if the price are similar or 20-30% higher to what they were in 2008, we should already seen a 50%+ reduction.

    Hence, there is no point to be a bull or a bear. You have to ask yourself 3 questions :

    1. What is your standard of living?
    2. Whether you have the more than enough cash/assets to own such a standard of living?
    3. Do you have the mind, and passion to be wealthy, or you are already wealthy, or you think owning is a house is the defination of wealth for you - and is the ultimate acheivement in life ?

    Persoanlly, I would have long bought a house in if I had 15-20 crores with me, a house for 1-2 crores which suits my standard of living currently.

    The problem is whatever I have and the loan I could stretch to afford - but then, I want to be in that league of 10-15-20 crores after few years, so that atleast I am left with some crores to invest and make more money.

    ALWAYS REMEMBER ONE RULE (marwadi rule) -

    MONEY ATTRACTS MORE MONEY !

    DEBT ATTRACTS MORE DEBT !

    Its your choice - and its a damn personal choice.
    If you dont have the mind and matter to "invest", and have the money to buy your - "standard of living house", just go for it.

    But, if you do a marwari hisab, 1 crore ka byaj hi aaj 10 lac hain per year, even if you pay 2-2.5 lacs in rent, you save 7.5 lacs per year. Whether the value will increase to 1.5 crores in 5 years - I and we agree - it will not happen.Hence, if a person just has 25 lacs + has decent salary - make that money count to increase it to about 50 lacs in 5 years -- with aim for atleast 10% return per year --- and then you could buy that 50 lac house....
    .....of course a person starting with 50 lacs capital shoudl try to to reach 1 crores......after 5 years....
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  • By the way, today I landed a great deal at Croma Aundh, got a 40 inch 3d led - C version - Series 7 - - last piece available for 55K - the MRP is 1.3 lacs, and the SP was 90K - with a 3 year warranty.

    Samsung launched D versions last month, and hence I just pounched on this offer.

    Alas - real estate doesnt have such auctions - specially in Pune and in India - should I say - I foresee whats in the stocks....
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  • Originally Posted by pcpune
    By the way, today I landed a great deal at Croma Aundh, got a 40 inch 3d led - C version - Series 7 - - last piece available for 55K - the MRP is 1.3 lacs, and the SP was 90K - with a 3 year warranty.

    Samsung launched D versions last month, and hence I just pounched on this offer.

    Alas - real estate doesnt have such auctions - specially in Pune and in India - should I say - I foresee whats in the stocks....


    Congrats. Thats a great deal. Hope its not a display piece.
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  • Originally Posted by pcpune
    By the way, today I landed a great deal at Croma Aundh, got a 40 inch 3d led - C version - Series 7 - - last piece available for 55K - the MRP is 1.3 lacs, and the SP was 90K - with a 3 year warranty.

    Samsung launched D versions last month, and hence I just pounched on this offer.

    Alas - real estate doesnt have such auctions - specially in Pune and in India - should I say - I foresee whats in the stocks....


    Good deal on the LED.

    I was planning to spend about 60,000 for a 42 inch LED - but not 3D. Waiting for the technology to stabilise - Edge seems to be the default standard now.

    Did you do any market research from which I might benefit?

    I agree with your earlier post on prices also. Also agree that 2014/15 is the latest to buy in RE before the next big bull run starts and prices run away from you.

    I personalyy believe in buying under construction flat under CLP plan. Expecting 3-5 years for delivery - you should buy after a crash and expect to make money after delivery + 3-4 years (one full RE cycle), definitely by delivery + 10-12 years (after 2 full RE cycles)

    In RE also great deals come your way during crashes. Many good deals were there in March to May 2009 - I got one.

    After the crash, you get average deals only, as available now. But they should also make money after one cycle.

    Currently, we are staring at an industrial recession. So RE prices will be flat for 1-2 years. No need for hurry.

    By 2014-15, we should be looking at an industrial plus RE bull market - like 2006-7 - which is when prices really shoot up.

    When the industrial cycle of 4 years and RE cycle of 7 years have a coincidental bull run, that is when you see extra-ordinary returns - in both stok and RE.
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  • Originally Posted by Venkytalks

    I agree with your earlier post on prices also. Also agree that 2014/15 is the latest to buy in RE before the next big bull run starts and prices run away from you.


    Oh...so is 2014-15 the new timeline advised by the bears? Holi or Diwali? :D But yeah, safe bet now that it is 3-4 years from now. Won't have to hide like now where the prices are refusing to decrease.
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  • Originally Posted by pcpune
    By the way, today I landed a great deal at Croma Aundh, got a 40 inch 3d led - C version - Series 7 - - last piece available for 55K - the MRP is 1.3 lacs, and the SP was 90K - with a 3 year warranty.

    Congrats man. Btw, how many goggles did you get alongwith the TV set. I have seen Samsung, VU, LG & & finally concluded that Bravia is the best of lot, but for 55k, yours is a good deal.
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  • Originally Posted by pcpune
    By the way, today I landed a great deal at Croma Aundh, got a 40 inch 3d led - C version - Series 7 - - last piece available for 55K - the MRP is 1.3 lacs, and the SP was 90K - with a 3 year warranty.

    Samsung launched D versions last month, and hence I just pounched on this offer.

    Alas - real estate doesnt have such auctions - specially in Pune and in India - should I say - I foresee whats in the stocks....


    You can get this price any day for said specs in Bangkok. But getting it in Pune is lottery.
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  • Originally Posted by nitesh321
    Oh...so is 2014-15 the new timeline advised by the bears? Holi or Diwali? :D But yeah, safe bet now that it is 3-4 years from now. Won't have to hide like now where the prices are refusing to decrease.


    You couldnt be more wrong. 2014/15 is the probable time for start of the next bull run.

    Right now is the bear phase - prices have already corrected 5-30% depending on the market/location/city.

    This is the bulls thread, the majority believe in long term bull phase for RE in India
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  • Originally Posted by pcpune
    I dont know why the new members think 2 years passed of a slight increase in rates in 2009 was an excellent oppurtunity.

    I have been saying all the way - the rates WILL not drop or INCREASE more than 20-30% till 2014-2015 from 2008 rates.

    I consider the peak to be in 2007-2008, and with a 7-10 year RE estate cyle, inflation adjusted, if the price are similar or 20-30% higher to what they were in 2008, we should already seen a 50%+ reduction.

    Hence, there is no point to be a bull or a bear. You have to ask yourself 3 questions :

    1. What is your standard of living?
    2. Whether you have the more than enough cash/assets to own such a standard of living?
    3. Do you have the mind, and passion to be wealthy, or you are already wealthy, or you think owning is a house is the defination of wealth for you - and is the ultimate acheivement in life ?

    Persoanlly, I would have long bought a house in if I had 15-20 crores with me, a house for 1-2 crores which suits my standard of living currently.

    The problem is whatever I have and the loan I could stretch to afford - but then, I want to be in that league of 10-15-20 crores after few years, so that atleast I am left with some crores to invest and make more money.

    ALWAYS REMEMBER ONE RULE (marwadi rule) -

    MONEY ATTRACTS MORE MONEY !

    DEBT ATTRACTS MORE DEBT !

    Its your choice - and its a damn personal choice.
    If you dont have the mind and matter to "invest", and have the money to buy your - "standard of living house", just go for it.

    But, if you do a marwari hisab, 1 crore ka byaj hi aaj 10 lac hain per year, even if you pay 2-2.5 lacs in rent, you save 7.5 lacs per year. Whether the value will increase to 1.5 crores in 5 years - I and we agree - it will not happen.Hence, if a person just has 25 lacs + has decent salary - make that money count to increase it to about 50 lacs in 5 years -- with aim for atleast 10% return per year --- and then you could buy that 50 lac house....
    .....of course a person starting with 50 lacs capital shoudl try to to reach 1 crores......after 5 years....

    "Sahi kahyu Bhaaya" :D
    This can happen if people start respecting money. 2+ years slowdown coupled with high interest-rates can make this case.
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