Mark Twain’s investment advice — ‘Buy land, they are not making it any more’ — appears to be holding good a hundred years after the American author’s death. Whether it is Mumbai, Delhi, or even some of the smaller tier II cities, like Coimbatore or Jaipur, real estate prices have multiplied manifold over the past few years.
In real estate, there is no dearth of multibaggers. There are many cases wherein properties bought for a mere Rs 1 lakh around 1985 are today valued at Rs 1 crore or more.This essentially means money is multiplying a whopping 100 times in 25 years at an annualised return of 20% per annum. For instance, retired professional N Mehta, who bought a one BHK house in Andheri, Mumbai, for Rs 70,000 in 1977, is now receiving offers worth Rs 70 lakh.
courtesy: Economic Times
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