RE:wrong thinking but not crap
by ramprasad on Apr 30, 2007 05:31 PM Permalink
MR.PATEL. Only fool will buy a property by paying interest. Sweet home will be a hot home at the last.
Rs. 13500/- rent is not fact for house costing Rs. 25,00,000/-. Actual rent would be 8000-10000/-. Again for 20 years the house property is not yours. If you take loan it will be yours only and just think what would be cost of it after 20 years if you want to sell it.
The comparison between own loan and reneted one will be always unfair.
In Indirapuram, flats worth Rs.25 lakhs are easily available at a rent of INR 7000/=. Hence, the author should take correct market rates.
Secondly, even if the house was bought at INR 25 lakhs, in 5-10 years time it could easily be sold at double the price as has happened with many properties in Noida, Gzb, and Gurgaon.
Even a school student can add up figures and show the above calculations. What is different in the article that made it show on rediff...??? High time rediff needs to change its editor. The quality of the articles has gone down dramatically.
RE:wierd comparison
by chetan khanna on Apr 30, 2007 05:11 PM Permalink
R u Nuts????? Do u live in Mumbai or some place else.....The rates are exactly what the writer has quoted in case of Andheri...& if we move towards the city.....it's even much higher than that!!!!....So, he has considered the lowest possible....
RE:wierd comparison
by Vivek Kumar on Apr 30, 2007 05:52 PM Permalink
amit madan, not your fault buddy. u stay in a village. how will you know about a city? dont worry we will all contribute money & sponsor a trip for you to a big city like mumbai. that way a country bumpkin like you will know about prices in a big city. madu baby, start packing you bags ...
RE:wierd comparison
by Vivek Kumar on Apr 30, 2007 05:06 PM Permalink
Where do you stay? in a village with no electricity and drainage facilities. If not, you would not find the comparison absurd
RE:wierd comparison
by vijay ramalingam on Apr 30, 2007 05:06 PM Permalink
All these calculations are just an example. Just to show you how to calculate.
RE:wierd comparison
by suprakas maiti on Apr 30, 2007 05:25 PM Permalink
Whatever the rent is, it all depends on the standard of house, locality, amenities and facilities available. Got it?
RE:where is the tax from corporation and society maintenance charges calculated
by Ganpat on Apr 30, 2007 05:03 PM Permalink
Absoltely true.. The calculation is totally wrong. Rediff.com, please come up with factual information. An example can be taken like the city of Mumbai or Chennai for the comparison. That would give the true picture and the appropriate answer.
RE:where is the tax from corporation and society maintenance charges calculated
by naga mathan on Apr 30, 2007 06:31 PM Permalink
Till now I am not sure how the EMI is 22,022 Rs for the loan amount of 20,00,000 Rs with the interest rate of 12%. I hope the the EMI itself was wrong. As per my knowloedge the EMI for 20 years should be 9333,33 Rs not 22,022 Rs.
people who are taking home loans are not fools they know that it is also a investement when ever they required money they can make good money by selling it
RE:home loan
by rakesh raina on Apr 30, 2007 05:20 PM Permalink
The writeup is quite unrealistic. Wher ia a house in a metropolis costing 25 L which will fetch 13500/- as rent? Secondly what will be the cost of the flat after 20 yrs the author has not imagined at all. People are thronging into the metropolis and prices will shoot up beyond imagination. I wish prices stop sooting up, wish everybody owns a small place to live, but this seems unlikely to happen as the govt. is riding a pro capitalist policy. Poor are getting only poorer by the day and rich getting richer.
RE:home loan
by Himanshu Srivastava on Apr 30, 2007 05:46 PM Permalink
rakesh, i'm a resident of mumbai & currently own an appartment worth rs 20 lakhs; it has been put up on rent of Rs 10,000 per month. the numbers assumed are perfect for a city like mumbai. the author has also clearly mentioned that the asset value will grow over the years. better get your facts right & read the article carefully...
RE:wrong comparision
by Badrinath Viswanathan on Apr 30, 2007 05:01 PM Permalink
Very True. These authors are trying make fool of people. Housing is a bad/risky investment if you are taking it on loan
