There are only  two kinds of Home buyers.
1. The moneyed people. The money  might be black, so they have to sink it somewhere.  or the money  come from Big bucks earning salaried employees. They need a single point to invest  such big bucks. They might not be certain about investing in stocks, There is limit for gold -so RE is the only  choice they  have,
2. The first time buyers. Most  of India come from a middle class/working class group. Buying a house is an emotional purchase. So people buy , the price doesn't matter. Afterall, home prices have always gone up, till now.

the "luxury" tag is just  a euphemism to charge excess.  Similar to "international" school.  When they  can no longer sell shitty apartments at sky  high prices, they  would call is "luxury" apartments. 
people from Blore, might have noticed this. A lot of appartments with the name "lake view" in it... How many  actually  saw a lake from that buildings?

Consultant

Every rainy season they get to see pool in their basements 😂

Product Manager

Real estate people also don’t care. They’re trying to give as little space as possible in the most expensive way - in big cities.

MLA are asking big money. It very openly discussed by employees of the company saying x MLA asked for y cash. 
  
 Someone has to bear the cost.

Software Engineer

Make that money in White and in the end it ends up becoming black when you buy a property.

Founder

How can you get access to affordable housing?

Product Designer

Welcome to Personal Finance's Private Community

This is no time to buy a house

Investor

This is no time to buy a house- Grapevine

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

Interest rates will only increase. How this will impact job market a thread below! Share your opinion

Interest rates are not coming down anytime soon

Lawyer

Welcome to Fintech India's Private Community

Asking from people who consider that one should strive towards owning a house (or an even stronger stance that not owning a house is not an option for them).

Really want to understand their POV. 

Why are you comfortable taking 15-20 year loans for the dream of owning a house?

Owning a house, what's the appeal?

Business analyst

We have a family income of 45L in Bangalore still don’t feel that we can afford a 3bhk in Bangalore. I’m not sure who is able to afford these houses. I calculated an emi of 75k per month for 1cr loan and I’m not okay to pay it. 

Is it super inflated market?

Am I missing something?

Is my income not good enough?

Are the returns exceptionally well? 

What’s the catch. Please educate me folks on this entire real estate games

At this pace, will never be able to purchase a house🥲

3bhk at 2CR in Bangalore 👀

Operations Manager

Family is pressing us to buy a house but I don't have any treasure even to put a down payment. Terribly frustrated.

How do you cope up with family members pressing you to buy a house?

Security engineer

I was thinking about this few days back...Today a swiggy employee validated my thoughts so posting here.

Layoffs are mainly in cream jobs(20-30% which is hardly 2-3cr source tax web) and in India mainly home loans or highly consumable loans like car or PL are taken by White collars...As per labour law, we ain't protected like in Korea.

So, if someone or let's say a major chunk loses his or her job then how the system will absorb this default?

Some data...

Fy23 Home loan Size is 20 lac crore or $250B (15% of total loans disbursed by amount)

2030 it's about to touch $1T

Cagr 23% in HL growth 📈

What if defaults rise in dual digit?

Plus exorbitant hike in flat price like literally greater Noida West have 5lac unsold flat but still 10lacs worth flats are being sold at 40-50lacs (poor quality and seelan issues after a month)

PS - Usa and China have seen this. (2008 and ongoing in China)

Home Loan Crisis in India 📈

Senior Consultant

Hello all, I want to buy a plot in one tier 2 City where I wants to live after retirement. 
Right now I am working remotely and living here in this city only but in future can't guarantee the workplace as I have to move to some other place also in 2-3 years time. 
My most of the savings are going in mutual funds investments. I can afford home loan EMI also. 
Should I go ahead and buy the plot and make small house on that and rent it out/ give on Airbnb.
But our software Engineer's job is very unpredictable. Should I take this step?

Good time to buy a property

Tech lead

The sad part is one only thinks of real estate as an investment opportunity only after turning 26/27 types. I know multiple friends who did tons of research and were not able to conclude if this was the best option or not and have up…
I know couples/individuals who researched more than 30-40 options across bangalore and Hyderabad. They read real estate trends, read the FY statements of top builders, read numerous number of consulting reports and were not able to arrive at if their option is a best option or not.

Another reason being a real estate investment is likely to evil the order of 1-2.2 Cr in these cities and one is likely to keep 40-50% ( maybe more) of their savings as down payment and stick to loan for 10-20 years making it a huge thing.  Due to this factor we want to be more reassured of returns potential.

Does it make us want to be more reassured of the investment?
Is there way too much impact of right time right place in our life?
Is our generation not able to take long term decisions like our parents generation took?
Is it even worth going through all this and getting a house?

Any gyaans of real estate please help out here…

Real estate as investment opportunity

Product Owner

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

Welcome to News Discussion's Private Community

If you really want to invest in real estate, buy plots and not flats at these inflated price

In 3-5 years, there are going to be insane default on home loans by those who believe their salary is going to be same to more than their current salary. A rude shocks awaits everyone

What would be a better investment opportunity in Bangalore. Is it worth getting an apartment on loan and pay the emi from rent received? or would it be better to get a land a little away from the city. if yes then which areas would you recommend.

Flat vs Plot

Software Developer

We all have certain dreams and aspirations. People work hard in order to achieve their dreams. But there’s often a dream of yours that you know , how hard you try , is not going to come true. Reasons can be plenty and does not matter.

I’ll go first

My dream is to spend my 30s living in the country side of Japan and enjoy the peaceful life there. But I know with all the responsibilities that I have , this is never gonna become a reality 🤭

What’s a dream of yours that you know is realistically not going to come true ?

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

We've witnessed so many layoffs in the past year and this continues to be an upward trend. Bangalore is a city of IT professionals and these layoffs seem to have no effect on the real estate. 
Is this because the numbers are negligent? I don't think that's the case, my company has been laying off people since last year. It was never public. I'm sure there are lots of such companies. 
What are your thoughts?!

This is no time to buy a house

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