As most of you have mentioned the author's assumptions, examples and conclusion are completely out of date, if not rediculous.
a) Nothing (not even decent) is available for 25L in metros. b) Nothing (decent) is available for 25L in upcoming Tier-II cities. c) Rs 25L worth property is not worth to fetch Rs. 7000 in rent but other circumstances may prevail.
Having said that, the author has admitted that may other external factors such as appreciation, emotional/physical security, etc. have not been considered.
All in all, one need not go by absolute values. Use the worksheet as a template and work out your own calculations and conclusions.
RE:Author's assumptions
by Sujit Bhattacharjee on May 02, 2007 04:21 PM Permalink
Hello, go to Kolkata and you find very good Houses at a very low Price. You are talking of Tier-II Cities. There is full chance of finding a good House at this Price. Update yourself.
RE:Author's assumptions
by Vijay B on May 02, 2007 09:43 PM Permalink
Really? Then I guess you are lucky. In my city (Pune) nothing is available below 30L and that too in the outskirts and fringe areas.
RE:Author's assumptions
by pradeep kumar on May 02, 2007 04:26 PM Permalink
Who wants to stay in socialist world. when everybody is looking for capitalistic world. U know why the rate of culcutta is so low. It will never improve, no appreciation.. then why buy there?
RE:Author's assumptions
by pawan bhutani on May 02, 2007 11:06 PM Permalink
i am staying in south delhi. in 25L you can get a 32 square metres, two room set flat at third floor. if you are earning 45000 rs per month, then you will never buy such property for your living. you will look for a property definitely costing more than 50L. here you can get a 2 bedroom flat easily in 8000. now relook your calculations using this data.
