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Missed an Oppurtunity - My experience
by SunInfo Solutions on May 03, 2007 12:17 PM
In 2003 I rented a property at Rs. 5500/- Per Month (Value of Property: Rs. 600000)
At that time the interest p.m. / emi was felt too high. vis a vis the rent. Interest on 600000 @ 1% p.m. = Rs. 6000 Principal Value)
However in the last 3 years the value of the property has gone up to Rs. 2000000 (20 lacs)
Its completely out of reach. Also imagine the diff. of amount Rs. 14 lacs.
If I buy this property today I have actually lost 14 lacs in 3 years.
Yes I am going to buy this property since I do not want to make another mistake. However after some time.
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