Good read! Mom’s been in the business for 2 decades almost, and she says the same. Also, the kind of societies they have built in Noida, for instance, better not to buy a house there. Plus, our generation’s work life is more fluid than that of our parents. Many more factors too. https://twitter.com/kaul_vivek/status/1322158526202982403

I have been living in a rented accommodation in Noida for 20 months now, and here’s what I noticed about buying a home.

1) It’s just not the raw cost, you need another 5–10L to build the house as well, from the scratch.

2) The problem is that most societies have terrible plumbing. You see damp walls in no time, and it’s a recurring process. So, adda to the maintenance cost and disgust.

3) The over all build of the society is mostly bad, and that shows 5-8 years later, so the ones buying during construction phase could be easily duped. For instance, it takes one punch for me to knock a chunk off my wall here in Amrapali. The quality is just not there, mostly.

4) The residential welfare associations are crazy, and in some cases, even the neighbours. The aunt adjacent to my home is crazy, for instance, and buying a home could lead to one being stuck with perhaps a set of people or the kind some people want to avoid, to put it mildly.

5) Exuberant maintenance costs, in some societies, and very restricted parking space. The maintenance charges can go as high as 4K in some places when added to the society charges.

6)...and then, there can be an array of individual factors, say someone may want a space closer to their or the spouse’s working space. One may like being on the move. IMHO, best to invest in a commercial property than residential.