Real Estate Investments
With express highways coming up, lots of new flyovers, with metro rail planned to reach Sushant Lok (an important residential area) in Gurgaon by 2010 and this high population growth, real estate prices are bound to skyrocket. Would it be really possible for a middle-class person to invest in real-estate then? But for that matter, is it easy to invest today. Nah!! The prices are already too high to be considered for investment unless one has a solid financial background from family. It's just not possible for a service class person with an average salary to purchase a flat here in Gurgaon. Average stands for 4-6 lacs pa.I've been considering to buy a flat for past few months. The only possible way is to get some money from dad for the initial down payment/investment and pay the rest through EMIs which would take away more than half of my current salary. But then that's a safe investment indeed and would help with tax savings too.
The cheapest 2-room flat here in Gurgaon (given that the society is decent) is around 35 lacs and it goes over 70-80 lacs in some other societies. Note that this is for an unfurnished 2-room set. I only wonder how people buy all those luxurious flats costing over a crore.
Time taken to write this post: 15 minutes
posted by AK-84 @ 10:57 AM
1 Comments:
Very rightly said Akansh. Gurgaon has gone out of reach of the average middle class and lucky are those people who had bought some property when real estate wasn't experiencing the kind of boom that it is today!!
Post a Comment
<< Home