Why is Navi Mumbai real estate so expensive? Or is it correctly priced? Well answers are difficult to get. A decent 2 bedroom apartment costs upward of @Rs One crore.
Even for a professional who has a nice starting salary of say Rs. 500,000 gross income (per annum) the cost of a flat is about 20 [...]
Real estate is going North?
Good news has been swirling around all the markets lately. GDP numbers, employment numbers, real estate numbers are all being flaunted at you saying: “Ha the recession is over”.
However if you are a Chartered Accountant by training and have been in consulting, being skeptical comes easy. Once upon a time one [...]
Real estate broker: Your house is the best asset that you can expect to create in your life. You can expect it to appreciate well over the long run.
What to do: Your home will not appreciate. It is not a wealth creating asset. It will not make you rich. Remember it is an important savings [...]
It is amazing that financial services – mutual funds, life insurance and banking are seen as villians in terms of charges in a country which has so many real estate deals!
Who can become a builder, who can become a broker, how much brokerage to charge, should prices be quoted for built up, super built up….NOTHING [...]
Should I buy real estate now – now that the market is down or wait for it to get lower? This is a question that everybody seems to be asking. Frankly I do not know.
A classmate (Prakash) and I have been having a disagreement about the direction of the housing market.
He calls real estate “the [...]
Many people who read my blog ask me one question. Am I against real estate investing? The answer is NO. It is a capital NO font size 72 dark, bold, …what ever else you want.
However the common man – or most of the people whom I meet are so poorly equipped to deal with the [...]
How many of you have grudged your friends who say “My father had bought a flat in Santacruz for Rs. 200,000 in 1977, now it is worth Rs. 20,000,000” – surely you felt pangs of jealousy did you not?
Did you think…if I had this I could have retired instead of suffering this boss? You bet!
Did [...]
It is amazing that strategies which looked very smart in a bull market can make you look very foolish in a bear market. One ‘house marketing’ company based in the suburbs of Mumbai had a big team to sell ’second homes’. Obviously the team included marketing people, branding, sales, call centre…etc. These were people who [...]
A few days ago India’s largest bank dropped its interest rates on home loans to 8%. This is nothing short of sensational – considering that at the same time one of the top Indian groups (let us say Bluest of Blue) are willing to borrow in the same market at 12% per annum!
However, I have [...]
continuing the myth busting on rent vs. buy ….
“Renting is for poor people.”
Of course renting is for poor people – very much true. But it’s for rich people, too. I know if I name some of the people who live in rented houses – with their designations some of you might torch me. The closest [...]