4 ms·

Buying a house in an Indian metro (without taking a loan) doesn't look too realistic for a person in his 20s.

• kamaal 13y ago
  No, but in any Indian metro you can easily buy a plot on the city outskirts for some money. Agreed that you may still need a loan. But that is likely to be in the figure of 10-12 lacs, given you have done basic savings in your early 20's. Also the inflation in India is close to 9%. Which means the principle you owe to the bank is losing value at the rate of 9% per annum, while your property value appreciates. Buying a car in your 20's is the worst mistake you can make. If you haven't made this mistake making 50% down payment to a plot in city outskirts should be a walk in the park. And the monthly gold saving schemes available with any big jeweller has helped people triple their money in as little as 5-6 years. Add to that the regular tax saving endowment insurance policies. In all if you have made your investments even with mediocre planning, you should end up pretty rich by 35.