How I became a millionaire by not investing in Indian Real Estate
Disclaimer: I am not a millionaire. I am a code wagie. Please judge accordingly.
As I stepped in poo, I remembered all the past events that had led to this particular incident. I was somewhere near nowhere. Construction was ongoing, and a yuuuuuge empty field stretched out in front of me. Do you know how many people have told me that a Dmart is going to be built near or on their property in just a month? Four. Four people. Even Dmart doesn’t have such aggressive expansion plans - or so I’ve been told.
Soon after we left the location, we got a call from a realtor who said, "Come and look at our ready-to-move flat." We asked how much the flat cost, and he said 85 lakhs. Clearly out of our budget, but we still went to check it out.
Sometimes, we visit flats that are out of our budget just to see how the uber-rich live. LMAO. Just kidding. Or am I? But even the most expensive flats don’t have much to offer apart from the location. I’m yet to see a flat that truly blows my mind. Actually, I did see one that I thought was well-designed, but it costs 92 lakhs, and the location isn’t great. They’re labelling it as "luxurious construction."
The thing is, as a middle-class person, you don’t really want to live around the uber-rich. Their societies usually have higher maintenance fees. Also, imagine having to pay 5,000 rupees for Ganpati Sthapana. Itna paisa nahi hai re baba. Many of the flat buyers we inquire about often turn out to be government employees. I’ve never really understood how government employees become so wealthy that they can afford what 99% of the Indian population cannot. But my jealousy is a topic for another time.
After showing us the flat, the realtors call us 1–2 days later and ask when we’re booking it. My man, how can we decide to invest 50 lakhs in just 1–2 days? People don’t seem to realise how much money that actually is.
But it’s just their sales tactic. I feel the real estate market will see a slump soon. The properties are ridiculously overpriced. The circle rate is ₹900 per square foot, while builders charge ₹4,500 for the same. The real estate market in India is heavily overinflated.
You should have bought that land for 1 lakh in 2001, dear friend. You’d be stress-free by now.
The whole gist of this is that, in a developing country, only two strata of society are truly free: the rich and the poor. The middle class is forever stuck in an unending grind for a better life.
I don’t want to complain, but, well, this is my blog, so I will complain about it.
Anyway, the time has come to buy some land and become part of the land mafia. I don’t see any other alternative, given the rate at which AI is improving. My code-wagie job seems to be in danger, and that makes me sad. People who entered the tech industry in 2010 experienced the most glorious years of tech in India and had the chance to make a lot of money. On the other hand, people like me only got to see 3–4 years of the same.
Kaash main big tech mein hota, toh aaj main ameer hota.
Mungeri Lal k Haseen Sapne
Chalo, bye.
