North India Statesman
[ad_1]
In today’s era, buying a house in India is a very big dream for many people. Putting pace between rising property prices and stable income in cities has become a major challenge. A recent viral post on social media has brought out this bitter reality again, which has forced millions of people to think. This post is of a person whose monthly salary is ₹ 1.2 lakh, yet he is struggling to buy a house in India.
Story of viral post: dream of buying salary vs house
This viral post shared on Reddit has highlighted the economic challenges faced by a common Indian middle class family. In the post, a person has expressed his pain and said that his monthly income is ₹ 1.2 lakh, but despite such a good salary, he is not able to buy his house. He expressed some such troubles:
-
High EMI burden: EMIs paid on home loans taken to buy a house are very high. Even if a house is purchased, EMI is so heavy that there is very little money left for the expenses of the rest.
-
Home prices and other expenses: Property prices are skyrocketing in India, especially in big cities. Apart from this, there are also registration fees, stamp duty and other hidden fees that further increase the total price of the house.
-
Savings and future concern: Despite such a high salary, if all the money is spent to buy a house or has to be given heavy EMI, then it becomes difficult to save for the future or raise money for any other emergency need.
The person also wrote that he does not understand how the ‘middle class’ is able to buy his house in today’s time, because his own position is full of difficulties with such a good salary.
People’s reactions to this viral post
This post immediately went viral and hundreds of people expressed their opinion on it. Most of the users expressed sympathy to the situation of the person and told that they are facing similar problems. Many people expressed concern over expensive city and declining purchasing power.
-
Some users advised to stay and save in a rented house.
-
Some suggested considering purchasing property in small towns.
-
Others argued that today’s youth are “under pressure and are in debt,” because they live under more pressure for big goals like buying a house.
Homebukers’ reality in India
This viral post is not just the story of one person, but the collective problem of millions of middle class people who buy homes in India. Flats ranging from Rs 1 crore to Rs 2 crore have become common in metro cities, while the average income is not increasing as fast. Home loan interest rates are also a major factor.
This situation highlights the strength of the housing and serious challenges related to urban development in the country. Good jobs and good salary for people are also no longer guaranteed to make their homes. This issue is not only a matter of personal concern, but also for the national economy and social stability. Government and policy makers have to find a long -term solutions to bridge this growing gap.
