I disagree with Author that house is asset as it doesn't generate any values for you. Even though home value gets increased, you are going to sell your home.
Staying on rent is a better option if you have to choose one your own house or rented house. It is meant for those who already staying in their homes :)
Moreover, in no metro cities, you can buy a home in 25 L and rent for flat which costs 35L may be maximum 7-8 K (exceptions are excluded).
RE:House is not an asset
by Ramesh on May 03, 2007 02:18 PM Permalink
sachin,
fail to understand ur logic. if you own a property & it appreciates in value, how is an asset not created. also why is it compulsory to sell the property as stated by you?
get your facts about property prices right. the rates mentioned are perfect in my locality in a western suburb in mumbai (which for your information is a metro)
RE:RE:House is not an asset
by umesh gupta on May 07, 2007 11:24 AM Permalink
but will that property (bought at Rs 25 lacs) fetch a rent of Rs 13500 per month...no way...hence the cost of living on rent would come down drastically...
RE:House is not an asset
by on May 11, 2007 07:17 PM Permalink
you are not going to make any money in ur life..In our country there is only 1 asset..that is real estate
