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Buying house is no more a better investment for youngsters

Comments(19) Sub Category:Bangalore,Chennai,Delhi-NCR,Hyderabad,Mumbai,Realty News Posted On: Jul 10, 2012

According to ‘India Tax Ratio 2012‘ report by TaxSpanner, an online income tax return filing portal, only 56 per cent salaried individuals surveyed in the country own a house despite earning more than Rs 10 lakh annually.

And amongst those earning below Rs 10 lakh annually, only 13 per cent own a house. This shows that very few people consider investing for a house as a good investment and tax option.

The study covered employees from over 500 corporates in major cities, including Delhi, NCR, Mumbai, Chennai, Bangalore and Hyderabad.

The study added that at 40 per cent, Bangalore has the highest number of house owners followed by Hyderabad at 17 per cent and Mumbai and Chennai at 13 per cent each.

The study showed that the largest percentage of house owners is in the age bracket of 31-35 years at 42 per cent, with 20 per cent of house owners in the age group 21-30 years and house owners in the age group 21-25 years contributing only 1 per cent.

To read more real estate news:

Ascendas likely to buy Shriram’s SEZ in Chennai

Real estate regulatory bill is passed in Andhra Pradesh Assembly

Source: The Economic Times

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