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kepler37b

Indian cities: Astronomical Real Estate Price

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20 hours ago, Clarke said:

 

Some (actually many) minds give greater weightage to feelings and then invent new facts to suit them. A cousin who's actually a chartered accountant with good tenure abroad & in India has given me such advice with similar claims devoid of ground realities. 

Devoid of what ground realities?

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On 6/19/2022 at 5:19 PM, Clarke said:

 

 

Well that never happened. India which has the lowest rental yield, often less than 3% and the rent is fully taxable for the owner while it gets HRA benefit for the renter. Good luck getting the bank/nbfc giving a loan at that rate. There's also the opportunity cost of being stuck in one place and potentially missing out on career growth if not open to relocation.

Why conflate home ownership with relocation for work?

 

One can pursue a career relocating to where ever the gravy train runs and can own a property back home. It's not necessarily at the cost of the other.

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On 6/19/2022 at 12:33 AM, kepler37b said:

One of my friends bought an apartment 3bhk for 1.68 crores and threw a big party 

 

The bugger would have retired comfortably with that amount. But he continues to work like a slave in office.

Bit off topic but retire with 1.6 cr? You think that is enough to live for the next say 50 years?

 

I don't think so.

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4 hours ago, kepler37b said:

@Trichromatic .. Apartments in India are  waste of money. Go for a villa, even if you have to work for few years. It can be passed down as a great asset. 

Affordability of villa is crazy. You can’t get a villa unless you have 3-5cr in a good place

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9 hours ago, gattaca said:

Affordability of villa is crazy. You can’t get a villa unless you have 3-5cr in a good place

 Agreed.

 

But consider this. Apartment is a difficult structure to build. You have to get the drainage, plumbing, Electrical connections right. It requires meticulous planning. We simply do not have either of these. Hence all these apartments, even the costlier ones, come apart in few years. Of course, after a time you can tear down the apartment and build it. But that needs nod from ALL members of the apartment. Which is beyond beyond impossible. 

 

I went to see an apartment. The bugger was quoting 1200 sq ft. I took out a tape and measured the entire floor area. It came to 768 sq ft. This is down right cheating. 

 

Villa is costly. But you get land for it and is relatively easy to build. You get better space as well. And has a superb resale value.

 

 

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1 hour ago, kepler37b said:

 Agreed.

 

But consider this. Apartment is a difficult structure to build. You have to get the drainage, plumbing, Electrical connections right. It requires meticulous planning. We simply do not have either of these. Hence all these apartments, even the costlier ones, come apart in few years. Of course, after a time you can tear down the apartment and build it. But that needs nod from ALL members of the apartment. Which is beyond beyond impossible. 

 

I went to see an apartment. The bugger was quoting 1200 sq ft. I took out a tape and measured the entire floor area. It came to 768 sq ft. This is down right cheating. 

 

Villa is costly. But you get land for it and is relatively easy to build. You get better space as well. And has a superb resale value.

 

 


Agreed about area builders cheat for apartment. Villas also have problems. I was looking at one but after research came to know the villa has drainage problems.

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4 hours ago, gattaca said:


Agreed about area builders cheat for apartment. Villas also have problems. I was looking at one but after research came to know the villa has drainage problems.

I would say this..Fixing issues in a individual villa is much much simpler than that of an apartment. 

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