In my area some drunkards and low level earners like electrician, plumber earning like Rs. 10K/month are thousand times richer than well qualified MDS doctors and MBA/Engineers just because their father/grand-father purchased a 200 sq. yard plot 30 years back for Rs. 10K which is now Rs. 8-10 crore and their looser kids managed to survive and not sell it till 2010's. Now each such looser is doing "collaboration" with local builders who develop their plots (which look like they will fall in next few years because of no maintenance) and turn it into a 4 story home with parking and each such landlord looser is given 70-80 lakhs for selling one floor to the builder (because builder sells that floor, deducts his commission and the construction cost borne by him and gives the rest to the landlord for selling one floor to him). The landlord also keeps the rest 3 floors. It is happening everywhere in Delhi and everybody knows it. Now the electrician does not have to work. He can keep Rs. 80 Lakhs in bank and can easily earn Rs. 80K/month in interest by doing nothing also earns 20-25K rent from 2 floors while keeping one floor for living. So, total income is 80+20+20 = 120K/month which is almost equal to what I earn after studying 5 years and working like an ass every day for 24/7 for a shit pay. If in case that electrician happen to loose that Rs. 80 Lakhs in gamble, foreign trips or other leisure activities, he still has 3 floors worth total 6 crore from which he can earn Rs. 6 Lakhs/month just in bank interest after selling those, which is more income than the official income of Prime Minister, Chief Justice of Supreme Court, Chief of the Army/Navy/Air-force Staff. And remember he will always have 6 crore in bank which he never has to spend because I don't think anyone can spend Rs. 6 Lakhs/month in any possible way.

Another example, an employee who works in my brother's factory for Rs. 7K/month has assets of 1 crore (farm land in native village) while my brother has a total investment of hardly 70-80 Lakhs in the factory (it is his total asset that he keeps invested in the manufacturing business) and earns 2-2.5 Lakhs/month. So, I asked why he does not start the factory himself because he has more assets than my brother and why is he working under him when he can be a factory owner. He replied who wants to take all the stress. My property will double in the next 2-3 years which is more than the factory's income. So, why should I take tension.

Are these people really worth that much? Who is responsible for all this madness?
Read more
Reply
3 Replies
Sort by :Filter by :
  • Originally Posted by Logitech25
    You are angry because your grandfather didn't buy any property and you have no inheritance?

    It is just a matter of demand and supply. High demand of space and low supply. So their property prices appreciated rapidly.

    If you don't want this to happen to your grand children, then out of the money you earn from working your ass off, buy some property NOW. Your grandson, or even your son need not work and he will be rich.

    Remember that "some drunkards and low level earners like electrician" 's grand fathers / fathers would have worked their ASS OFF to save money and buy that property at that time.


    What if I purchase now and there is real estate crash in a few years like it happened in USA where many people lost their life's savings?
    CommentQuote
  • "What if I purchase now and there is real estate crash in a few years like it happened in USA where many people lost their life's savings"
    RE crash may not take place.So why worry about something which may not take place?.
    If the worst happens it is hard luck.Try and bounce back with your skills,knowledge and personal capability.
    There is absolutely no point begrudging some person suddenly becoming rich due to the foresight of his grandparents buying land.
    With the kind of population and total reluctance of our leadership to control the bursting population,land can never be a bad investment.Value will rise over a long period.
    One of my friends elder had purchased land near Chennai in early 70's at the rate of Rs500 per plot and the area was deserted for miles around and people called him foolish,but 30 years later the land is now worth at least a crore per 1000 Sq feet.(figures are approximate)
    It is just luck/chance, if you inherit such land by being born in the family.
    Point which I wish to make is that each generation had certain instruments to invest in.We need to find out which instrument will now yield higher returns.
    CommentQuote
  • First off. I will describe your behavior as "Khisiani Billi Khamba Noche".

    I will keep my reply to the point.

    1. The words you have used for electricians, plumbers etc.. are not apt.

    2. The fact that their grandfather worked hard and purchased a land generations back shows that they come from a hardworking and intelligent family.

    3. You are worried that if you buy the land now, the market might crash. OK. So, who cares? You are planning for your grandkids right? Or may be for your greatgrandkids... So, even if the market crashes now, won't it recover in next 50/60/70/80 years? Or are you just thinking just about yourself and your life? Well, that is what your grandfather did... You are repeating the story. Buy land now, let your grand kid do much better than that "looser electrician's grandkid". Right?

    5. Not sure what you do for your living and what your education level is. You say that you can keep 80 lakhs in a bank account and spend 80,000 per month from the interest earned.. For the rest of your life? seriously??? That is your game plan, if you had 80 lakhs?
    This clearly shows your lack of understanding. Heard of something called "Inflation"? Don't worry, it is not very difficult to understand it.

    While I completely agree that there is madness in market, I completely oppose your thought process.
    CommentQuote