Statutory Warning ;- This post is written on a lighter note and readers are not expected to take anything written here seriously . ( Probably, this disclaimer should apply to all the posts :-))
If you are looking for an investment that never goes down, is secure and gives you a compounded annual growth rate of 30% or more , "Welcome to Chennai real estate".
Most of the working class in this city has seen the property rates go up at least 10 times in the last ten years. So, everyone who buys a property in Chennai feel that they have done the best investment on earth.If you try to discourage a person who is going to buy his second or third property and tell him not to "lock" 70% of his take home salary on "EMI", you are looked down as a fool.
Equity's lackadaisical performance and the extended bull run of real estate(over the last five years) has gotten into the deep psyche of these 'investors".
India is thickly populated, City population keeps going up, Rates have never gone down in Chennai are all regular arguments you hear. No amount of data or concepts can take away the belief (rather fact:-) that "Chennai real estate never goes down". You will feel people more confident than Warren buffet on their investments.
I am left with only one doubt - why do corporations work with thousands of employees and struggle to make 20% profit margins.Why do banks who lend to the Chennai real estate buyers @10% (home loan) , When they can buy and own flats to make 30% CAGR??
But what are you waiting for?? In the time that you have been reading this article , if you had booked a piece of property in Chennai, you would have been richer by 10% :-)).
1 comment:
Lack of easier/transparent investments, plus lot of black money is the culprit!!
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