RazorMC
SENIOR MEMBER
- Joined
- May 28, 2009
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Forget Delhi, we had about 20 Katha land in this small as town called Bhagalpur in Bihar, sold it last month for 15 lakh/katha. The property price in India has gone through the roof, not a good news for first time home buyers.
For the price of a 3 bedroom flat in New Delhi, you can buy a massive mansion in Sydney or a beach side property in small towns in Aus. Its ridiculous.
Coming back to the topic, i think this criteria is more upper middle class status.
Prices for property are sky-high everywhere. In Karachi, a 1000 sq.m house in a slightly better-off area like Gulshan-e-Iqbal costs approx. 5-7 crore PKR depending on size of the house, garden, rooms etc. That's roughly 2-3 crore INR.
First-time buyers are toast. Those who bought property in the early days are much better off with the blessing they have. LEave houses, even rents are sometimes unaffordable.
And your last statement seems right. The criteria sets an upper-limit for the middle-class :s