Looks like today is real estate day on GV 🥸 
  
 What is happening to the real estate market? 
 A lot of black money, equity profit realisation and house as first investment choice is driving the demand.

Product Manager

It’s election season; i think a lot of it has got to do with the demand for black money.  
  
 Things will settle after elections. I’ll pick plots over flats any day for investment; especially in tier2-3 cities.

Product Designer

there's black money in the market, real-estate prices can not rationalize, maximum buyers are effectively getting a 30-50% discount on face price.

Backend Engineer

What is happening to the real estate market in India? It is extremely tough to think of buying a place to yourself for salaried class without inheritance. All the metro cities have already gone bey...

Welcome to Personal Finance's Private Community

What is happening to the real estate market in India? It is extremely tough to think of buying a place to yourself for salaried class without inheritance. All the metro cities have already gone beyond the reach of middle class income bands and tier-2 cities are also not giving any relief. 
50L seems to be the bare minimum budget to even discuss with brokers in the smaller towns. What is leading this rally? 
Contrast to a decade back, prices were still under reach for a typical middle class household with sub 10L household salary.

Real estate markets

Real estate markets- Grapevine

Saw a similar post somewhere from an European and I think it’s pretty valid for India.

For context, I am in my early 30s, a home owner, living in tier-2 city with a pretty high salary. Recently got married and my wife also works as an Enterprise AE for a listed US company. Our cost of living is pretty low given the house and tier-2 city. Even if we had a kid, the overall cost of living will not change a lot. 

I got to where I am, economically, by a combination of hard work and luck. Luck definitely was a huge part of it. Knowing the right people at the right time, working on the right technologies helped a lot more in advancing my career a lot more than grinding for good grades. Even the ability to buy a house without much debt, was partly because I was lucky to sell my shares in a fairly small startup. 

It would be easy to say things aren’t economically bad based on my own experience or that of my close friends. However, when I look at things more objectively, I can’t help but come to the conclusion that we are screwed as a generation. Except for maybe the top 1%, salaries are not keeping up even with inflation. Housing costs, specially in tier 1/2 cities are unbelievably high even if you want an average apartment. Jobs are no where to be seen. The whole generation is living in the hope of the stock market rally never ending. This seems completely unsustainable as a nation. I might be doing well for now, but I still recognise how these are real problems for most Indians, who’ve been waiting for India’s century for 20 years

Given that the services industry contributes more than 50% to the GDP, the current state of joblessness, the overall sluggishness in IT and related sectors, and the fundamental changes happening to the way IT services now work, I wouldn’t be surprised if we see a complete recession in the next 4-5 years.  

Lately, there has been a lot of criticism of anyone expressing anger on how bad things are but I think it’s helpful to talk about this.

Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Great post, I was thinking to jot down something similar.     
 The way I see is that our generation(I'm Gen Z), is financially fucked due to 2 main behavioral changes:     
 1. Increase in consOOmerism: We're zoomer consoomer. GenZ is known for show off culture. We will buy the latest and greatest phones on EMI every 2 years. People spend thousands on sneakers, bags, branded clothes.     
 2. No Savings: People are no longer saving money. My then girlfriend used to got mad at me in market when I tried to bargain. Its considered a turn off lmao. People find bargaining bad now... like I'm looting a poor guy. People don't realise how much our parents sacrificed and bargained everyday to save money.

Software Engineer

What is the current scene of buying property in India. In my hometown (second tier city) I have seen property prices shoot up by as high as 20% CAGR in the last two years. I expected the price to come down with weak global markets and layoffs in metro cities but the stickiness is still there. Is this also the scene in Tier 1 cities? And why is the rate so much higher than the 5-6% these finfluencers and investment gurus keep saying? Is there any possibility of a downturn in prices?

Property in India

It is not the usual society rule, but I have had this longing of own house.

Childhood was spent I  government house, adjusting with members of family.

Now I am earning fine, will have 20% of loan in liquid cash by end of year.

But I also have practicality now. No fancy house are spared in these rains, there are so many repairs - one thing is repaired, second one goes down then third then fourth, bigger the house more you have to clean - wtf is this dist coming from, then you have asshole neighbours. And be scared what if there's a fire, robbery, calamity.

I had just one dream, but really rethinking the whole plan now.
So lost to be honest.

My one dream is own house, now reconsidering

Consultant

Price rise last 1 year. Where to buy house in Bangalore if job is in Bellandur. Budget 50lc. 2bhk with balconies and utility + car park required. Atleast 1000 Sq ft carpet

Growth Manager

Welcome to News Discussion's Private Community

- Home prices in India are set to rise steadily, driven by demand for luxury properties from wealthy individuals, according to a Reuters poll of housing experts.
- Economic growth benefits are increasingly being funneled to a select few, leaving millions of job-seekers out of the growth story.
- Aspiring first-time buyers are forced to keep renting as affordable homes dwindle and cash-rich individuals corner the property market.
- National home prices in India are expected to rise 7.75% this year, with further increases of 6.0%-6.25% in the next two years.
- Developers are focusing on luxury housing projects, aligning supply with prevailing demand, while affordable housing continues to suffer. 

 Source: [Reuters](https://www.reuters.com/world/india/luxury-property-frenzy-set-drive-up-home-prices-india-2024-09-03/)

Luxury Property Boom to Skyrocket Home Prices in India

India is just good for crooks, goons and thieves.

Journalist

I am just relating with our parent's era how they could afford to get house and do so much with limited income at that time in 90s. But with our gen I keep seeing these exorbitant prices. Do you think and plan on making investment to buy, I know many folks have very good income here and it might seem not so tough but generally speaking how shd one plan to get these things into place for house, education, etc etc with such rising prices.

1 cr has become common price for 2 bhk in metro cities

Associate Product Manager

Here is the break-up - 
Residential Plot we Just bought from our Indian Stock Selling - 90L
Equity - 40L
Crypto - 6L
US Stocks - 26L
Mutual Funds - 10L
NPS and EPF - 22L 
Cash - 6L 

I have not factored in inheritance of about 1CR which will be passed on to us in a long time but I don't want to count that as mine I want to pass that to my son... As that will be his not mine! 

3.5 year back I had a educational loan of 17L and my Wife had Equity of 17L so basically we were at 0 at that time... 

Nothing has changed at all for me... And I do not think even 10-20CR would change me too 😉 I am still a confused stupid... And will be forever ♾️

I have resigned from my current job as I was not satisfied.. I am looking out for more opportunities outside so that I can build the house with that money! 

Even with 2 CR I don't think I have achieved anything ... I have a long way to go from here ☺️

Reached about 2CR! Still Feel Poor! WTH is Wrong!

Not 2Cr even 20Cr you won't be satisfied. 
  
 First, think about what you want out of life, money is not (the only) goal.

Welcome to Office Gossip's Private Community

I’ve been working as a SWE for GE in Bangalore for nearly two years. First of all the WLB and culture here is incredible. I honestly can’t believe how great the WLB is over here, I work maybe 20 hours a week on average and am rarely ever stressed about anything. They’re not strict about WFO so I can chill at home most of the time. No fixed timings and I also get a ton of leaves. There’s no micromanagement and the culture is chill and professional. Perks are about average for any large MNC. We have a beautiful company campus with plenty of car parking space for everyone.

Obviously your mileage may vary depending on the your team, it’s possible I just got lucky.

The only con is that the pay is shit. Fresher SWEs are paid around 12 LPA while seniors might earn around 30. Not possible to earn 60+ unless you’re in a leadership position.

My review of GE in Bangalore

How much salary is required and plan it to buy a 2bhk flat in mumbai without emi and full payment in one time... cause I don't like emi at all

Software Developer

I guess Bangalore is Becoming the next Mumbai.Its so tough to get a good flat at a reasonable price in Bangalore. And if you are looking inside of Bengaluru the cost is so high. A typical 3 bhk would cost close to 2 crore.

And then there are set of builders who confidently say sir we don't give OC and CC.And no gives it in Bangalore.

And everything is already sold.Anyone would be like sir only few units left.

Even if you buy an apartment how do you plan on paying the emis.How many years.Do enlighten in comments

Real Estate Bangalore

After getting a bunch of 'buy a house' advice from my in-laws over the weekend, I decided to fire up magicbricks to check prices in Bengaluru. My browsing ended within 5 mins seeing just how much the prices have risen in last 1 year

A 3BHK that used to cost 2.3 Cr last year is now 3.7
A 2BHK that used to cost 1.8 Cr last year is now 2.7

These are two houses I had earmarked for sometime later when I would have more money

WTF is happening in BLR

Did you notice? Bangaluru housing prices have EXPLODED

Time to call in-laws and say that "Aap do jodo mei ladki bhejo ladki huio hamaari"

Analyst

I want to understand if buying the property on SH 35 is the right decision which has connectivity to OOR and Whitefield within 10-15km from each side. Easily approachable from sarjapur road side and from whitefield side, in case my office changes from OOR to whitefield or marathalli side. Want know the opinion here.

Buying property on State Highway 35 near Sarjapur main road.

These days, I can't help but keep on thinking about post white collar labour economy and it's implication on our day to  day life.... 

We can keep on dwelling in our wishful cocoon but fact remains that world is going to be vastly different in 4-5 years vis a viz today... 

In that scenario, let's us discuss some scenario :
1. What will be impact on rental yields of tier  1 cities and consequently what will be overall impact on Indian real estate 
2. What would be impact on banking interest rates 
3. Where will you park your money in that scenario : Gold, Indian Equity , Big Tech Equity , FD, Real estate or Cash.. 

My opinion :
1. As high paying jobs for majority of people diminishes, Rental yields of tier 1 cities will come down thereby directly impacting real estate. This will result in huge NPA by those people who have taken loans for 20-30 years period. This will eventually bankrupt real estate developers thereby making real estate deflationary. 

2. We will begin to witness  overall a deflationary society where cost of services like Education, software, finance etc will drastically reduce. Moreover due to high NPAs,  banking interest rate will reduce. Home loans for tenure of 20-30 years will drastically reduce due to increased uncertainty. 

3. Gold has historically been inflation proof asset. However will it still be a good asset to invest into in a deflationary society?  What are things that will still hold value then? 

Don't you think current big techs will become East India Company of future indirectly controlling world's economy? 

I would love to know what do grapevine folks think about the same  !

Discussion about post white collar labour economics

Super frustrated with my job( love the money bit it sucks my peace of mind) . Have savings(combined me and my husband) of 5 cr(MF,FD,PF,ppf) . No assets. When can i leave this corporate slavery?

How much do we need to retire?

Project Manager

This is no time to buy a house

Investor

With rising prices of properties and houses, my dream of building a home will remain dream for me. 
When will that day come when common people will be able to buy property. All good properties are worth more than 1.3 cr. 
Home loan is also joke. For property worth 1 cr. You will pay double the amount as interests. 
How many people here have completed their dream of buying property without home loan.
I don't want to take home loan as our jobs are very unpredictable. Any time any one can get laid off.
Will we be able to buy our own home ever?

Dream of buying or building home will remain dream

Tech Lead

I would like to know monthly expenses for a family of 3, husband, wife and an infant in bangalore... Considering a decent upper middle class lifestyle..

Monthly expenses for family of 3

Welcome to Software Engineers's Private Community

I am earning lakh rupees a month(excluding my monthly expenses as a single). but  when I think about buying a house (2bhk around 7.5 to 8 hundred sqft) in a city like Pune/ Banglore. I feel I will not be able to afford it considering other expenses (along with 60 k emi). but when I see people with a salary of 50-60k per month buying the same houses. how are these people planning it out? and most of the people earn between 30-60k how you guys are planning it? how should I plan this for myself? and 20 years of repaying the loan. i feel it's a trap.

House property prices in metro and semi metro cities?

Let's say you are earning ~ 2 Lakhs per Month, living in Hyderabad.

You have No savings - Bank balance Zero and U want to Buy some property With Loan or By saving up something.

The real estate is skyrocketed. So the rates are higher not sure whether it will shoot up again from this point or alteredy reached its peak and will be staggered for a few months or stable.

In this situation you are planning to buy a property. Will you 

1)  Buy an apartment in the Gated Community (~1 to 1.1cr)
2) Buy an apartment in the Standalone Building (80 to 90 Lakh)
3) Buy an independent house or villa outside the city (1.3 to 1.5cr)
4) Invest on some land for future 
5) Don't buy anything 
6) Confused 

Share your thoughts, what would you do and Why ? (P.S Consider you are in Hyd)

Real estate markets

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