A post that highlights how incomes have not kept pace with growing real estate prices has struck a chord with thousands of Indians. The post was shared by Chennai-based financial planner and investor D Muthukrishnan, who revealed that a successful couple in the city is still dreaming of owning a house someday despite their sizable savings of ₹1.5 lakh per month.
Muthukrishnan revealed that the physiotherapist couple runs a successful practice where they charge ₹500 for 30-minute sessions. “The husband works full time. Wife works only for a few hours a day as she has to take care of their two young kids. The husband makes home visits for patients too,” he explained.
“Being a clinic, right from electricity charges to property tax, everything has to be paid at commercial rates, which is high,” Muthukrishnan said further.
The couple manages to save ₹1.5 lakh every month after EMIs and taking care of all expenses.
“They dream of owning a home one day. Even for people like them, it's a dream. I'm talking about a successful professional couple in a city like Chennai. Earning money and creating wealth is very difficult in India,” wrote Muthukrishnan.
Take a look at the post below:
The post has resonated with hundreds of social media users, having been viewed over 2.5 lakh times in a day. Some called it a clear example of how honest tax paying citizens get the short end of the stick.
{{/usCountry}}The post has resonated with hundreds of social media users, having been viewed over 2.5 lakh times in a day. Some called it a clear example of how honest tax paying citizens get the short end of the stick.
{{/usCountry}}“Educated white collar workers who don’t cut corners and pay legit rates (income, electricity, GST) don’t have a chance in hell to earn and create generational wealth. It’s a sad reality of our current existence,” wrote X user Monica Jasuja.
“It's an extremely dire situation when even those earning ₹1.5 lakh a month struggle to afford a decent house. Now imagine the plight of those earning ₹1.5 lakh a year—it's nothing short of tyranny,” another person opined. “After 75 years of independence, we've failed to create a society where people can live a dignified and honourable life. Shame on all of us!”
“With the way real estate prices are in tier 1 cities, I'm surprised people still clamour after homeownership. Once people stop buying houses, the Real Estate mafia will crack and prices will eventually normalise,” said Akash.
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