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Dear ck.kislay,
You are subscribed to the thread "Real Estate Bubble Set to Burst Again in India" by MANOJa, there have been 9 post(s) to this thread, the last poster was raabta.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: huntershark
On: July 4 2017 10:12 AM
Not sure if this is the best place to post this, but I have been reading this thread ever since it started, so decided to do it here. Mods please feel free to move it to the best parking lot... Topic - Financing your goals A lot of us in our 30s started working * 22, and quite a few of did not inherit large sums on money. Most come from middle income families where the father was the sole earner and he like his parents before took care of his old parents (which we should also be doing), and though he gave us a good upbringing and good education, did not hand us the tons of money that is needed to buy a decent house in one of the five metropolis. A lot of us end up frustrated, as decent houses today are out of reach. So I will narrate my story, with the purpose of contributing to the forum and to give a few people the hope that corpus can be built up (not necessarily for a house, but for a anything you need)… The story goes like this: Phase 1 (Live like there is no tomorrow) - I started working at 22 after my engineering and went for an MBA at 27. Had just save enough to complete my MBA (yeah the big fat ugly unnecessary education), and was fortunate not to take a big loan for studies. Phase 2 (Winter is coming, collect the wood) - Post MBA there was basically no money in my bank account. At 29 there was family and a social pressure to get married (useless fellow, men of you age have 2 kids already), so the next financial goal was to save enough to be decently married. Indian marriages celebrations are an awful waste of money, but like 99% of the fools I to did it at 31 and then again with a couple of thousand in my account I started my married life. (Bankrupt for the second time) Phase 3 (Age of frustration) – Both me and my wife work, and though we could earn, live and save well enough, we could never dream of buying a house, as the house value was 1.4Cr, and the rent was 20,000/month. Made no sense of buying and we thought that we never be able to afford a house at this rate (and why should we renting is way more economical). However this was also the time that we started building our corpus, a few SIPs, a few stock investment (and more importantly always an arm away from relatives who insisted on INVESTING a small amount (25-30Lacs in ghost locations). This was also the time when our salaries steadily increased and in the last seven years we were able to build a decent corpus. A part of the corpus (approx. 75 lacs went into the house, balance 65 came as loan) So what did I learn in the process:[LIST=1][*]20' is the age to enjoy and spend, it is the best part of life. Enjoy it to the hilt, start a small SIP and save some money for future education.[LIST=1][*]Education is a one of the fee non deprecating assets– invest in it[/LIST][*]Do not go for an MS/MBA 2 years after work of working, if you need to do it early do it straight through after graduation. 4-5 years give good experience and also helps in building a corpus[*]Try not to take a 20+Lacs loan for education, use the SIPs investments early in your career to fund a part of your study[*]Don't hear to property experts who ask to invest in atleast a small property (e.g., a DDA 1 BHK as 25lacs make no sense, if you can afford to buy a 25lacs one bhk, definitely your living standard will not allow you to stay there)[LIST=1][*]First property should your home – it is not an investment. Stock markets give better investment opportunities[/LIST][*]If you are renting, don't not spl urge the balance. Save it and invest it, even if house is out of your radar, your retirement should be. Opposite to 20s, 30s should focus of corpus build up. Salaries are higher and responsibilities are lower[*]At some stage in life you will have a decent saving to buy a house – Again buying a house not an excel calculation, it is not the best business case. But please remember that you never do a business case only on quantitative measures, a business case also has a lot of qualitative factors. Give appropriate weightages to the qualitative and quantitative measures, and the weights you assign is your choice….[*]Periodic displacement of family and kids from one place to the other might not be the best thing for them. Look at the folks in the defense forces, after a point in time even they want their families to settle in one place for education, growing up etc.[LIST=1][*]Mobility is good, but when you have a family it is difficult to make them also mobile[*]For a kid maki ng new friends every 2 years might not be the best of the thing[*]Know your neighbors, it helps. Stay longer and you will end up knowing them[/LIST][*]Use a pen and a paper (or excel) to track you finances (not every spend), but a clear writeup on what you have, where exactly you have it and how much more you need… there should be a clear understanding of the assets (cash, stocks, gold re etc.) source of funds (salary, dividends, interests), and payouts (regular (bills, grocery, rent, emi, insurance), irregular (eat outs, holidays etc.)[*]Again house a house is not the only purpose of your life, and anyways you will not build a Taj Mahal (even though Shahjahan had built one, all he could do was to enjoy it from a prison cell. Don't lose your sleep over it (pick your car every weekend to search for a property ), plan well and it will happen… till then enjoy other things[/LIST]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: humblefool
On: July 4 2017 10:25 AM
[QUOTE=huntershark;n2529702][*]Again house a house is not the only purpose of your life, and anyways you will not build a Taj Mahal (even though Shahjahan had built one, all he could do was to enjoy it from a prison cell. Don't lose your sleep over it (pick your car every weekend to search for a property ), plan well and it will happen… till then enjoy other things[/LIST][/QUOTE] [FONT=trebuchet ms, helvetica, sans-serif]:) Seriously man. I think Shahjahan and Mumtaz had a lot of fun in the Taj Mahal. It was this time's multiplex, mall, eating out and vacationing kind of thing. Needless to say after watching his father waste money on this, and not build any real estate for his kids. Aurangzeb decided to punish his father.[/FONT] :)
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: Achal Gupta
On: July 4 2017 10:33 AM
hi guys.. sorry for posting here but my query is related to projects at and around golf course road / golf course extension and mg road. i tried posting in all other threads, started one of my own, but havent received reply. i am planning to buy within a budget of 1.3-1.5 cr (excluding registry) a rtm 3+1 atleast 1500 sq ft flat with minimum amenities of security, parking, power backup and club wd be added advntg. looking for something that wd cater needs of a fmily having 2 elderly parents, 2 toddlers, working wife and self (end use)..... i have shortlisted bptp park prime so far , getting a 2062 sq ft. 3+1+1 apartment. checking its pros and cons.. i have to finalise withing a week or two. seniors here can u please advise and guide me, whether i shd go for it or not, as heard a lot of controversy over its reputation an all. construction quality is indeed my requirements as well . i have had a look at unitech fresco, dont wanna get into anything like that. i have heard about ireo skyon , uptown , tata raisina , m3m etc. awaiting ur valuable feedbacks. urgenty required sincere thx
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: huntershark
On: July 4 2017 10:39 AM
Not 'in the Taj Mahal' --> 'Before the Taj Mahal' The EMI pressure on Shahjahan, pizzas without toppings and movies without popcorns, made the kid really mad
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: spectre
On: July 4 2017 11:41 AM
[QUOTE=humblefool;n2529709] [FONT=trebuchet ms, helvetica, sans-serif]:) Seriously man. I think Shahjahan and Mumtaz had a lot of fun in the Taj Mahal. It was this time's multiplex, mall, eating out and vacationing kind of thing. Needless to say after watching his father waste money on this, and not build any real estate for his kids. Aurangzeb decided to punish his father.[/FONT] :)[/QUOTE] :) This is exactly what I wrote few pages before - "Original owners are very unlikely to enjoy the benefit, it's their next generation who enjoys! " You probably was too focused in your STEM studies, so you may have forgotten, Taj mahal started after Mumtaz died! So question of her enjoying with Shajahan does not arise! As with any RE bull, Shajahan's this particular RE obsession led to famine and led the Mughal empire to financial ruin! Aurangzeb had to limit himself with "Bibi ka makbara", due to wasteful use of finances in father's RE obsession! :) However, as usual, generations later world enjoys that investor's bad investment!
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: humblefool
On: July 4 2017 11:54 AM
[QUOTE=spectre;n2529751] :) This is exactly what I wrote few pages before - "Original owners are very unlikely to enjoy the benefit, it's their next generation who enjoys! " You probably was too focused in your STEM studies, so you may have forgotten, Taj mahal started after Mumtaz died! So question of her enjoying with Shajahan does not arise! As with any RE bull, Shajahan's this particular RE obsession led to famine and led the Mughal empire to financial ruin! Aurangzeb had to limit himself with "Bibi ka makbara", due to wasteful use of finances in father's RE obsession! :) However, as usual, generations later world enjoys that investor's bad investment![/QUOTE] [FONT=trebuchet ms, helvetica, sans-serif]Hilarious. :) :)[/FONT] [FONT=trebuchet ms, helvetica, sans-serif]But Shahjahan didn't build a luxury fort(Or did he?). Taj Mahal if Im not wrong is a luxury grave yard now? [/FONT] [FONT=trebuchet ms, helvetica, sans-serif]Better RE investment would have been building a fort. He wasn't advised well. But yeah, on a long term perspective tourism revenue from TM brings in a lot of money.[/FONT]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: spectre
On: July 4 2017 12:10 PM
[QUOTE=humblefool;n2529755] [FONT=trebuchet ms, helvetica, sans-serif]Hilarious. :) :)[/FONT] [FONT=trebuchet ms, helvetica, sans-serif]But Shahjahan didn't build a luxury fort(Or did he?). Taj Mahal if Im not wrong is a luxury grave yard now? [/FONT] [FONT=trebuchet ms, helvetica, sans-serif]Better RE investment would have been building a fort. He wasn't advised well. But yeah, on a long term perspective tourism revenue from TM brings in a lot of money.[/FONT][/QUOTE] :) He was obsessed with RE at time! Most of structures during his time continue to be marvelous, which we continue to enjoy. If I'm not wrong Red fort is by him. I fully agree with you, he didn't have IREF then to advise (warn) him well!
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: shalumani
On: July 4 2017 05:59 PM
[QUOTE=humblefool;n2529709] [FONT=trebuchet ms, helvetica, sans-serif]:) Seriously man. I think Shahjahan and Mumtaz had a lot of fun in the Taj Mahal. It was this time's multiplex, mall, eating out and vacationing kind of thing. Needless to say after watching his father waste money on this, and not build any real estate for his kids. Aurangzeb decided to punish his father.[/FONT] :)[/QUOTE] Err..Taj Mahal was built after Mumtaz Begum died, so don't think they could have had fun in it. Unless you are talking about their ghosts, of course.
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/gurgaon-real-estate/13876-real-estate-bubble-set-to-burst-again-in-india
Posted by: raabta
On: July 4 2017 06:20 PM
Is this an RE discussion?
With warm regards,
Team IREF
With warm regards,
Team IREF
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