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A White Ford GT parked outside a building, copyright Picturejockey : Navin Harish 2005-2008
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Buy a house, get a car free

18th December 2008

The Indian market has not collapsed like the US market and the real estate has also not suffered the way it has in India. The sharp rise in price (about 300-400%) we saw in the last 5 years in Bombay has stopped and the prices has gone down but the real estate is still hell of a lot more expensive than it was 5 years ago. Some builders have slashed the prices, some are offering other goodies like free registration, appliance and what not. A builder was offering a one bedroom house in some remote suburb if you buy a 3 BHK in Thana and someone was also offering a car on the purchase of a house but that is not unique, even in Gulf someone was offering a Merc with a house

I was thinking about the car and a house. If I buy a house in Bombay, I will be paying a minimum of 3 lacs for a parking spot. 3,00,000 bucks for parking a car that I bought 6 years ago for 2.25 lacs. Do you think it would put me under pressure to ditch my car and buy one that is more expensive than the parking spot?

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