Real estate, as an asset class, is distinctly different from other asset classes because of its deep emotional connection with the Indian psyche, its nature of ‘can be touched and felt’ and for being easy to understand. In fact, it is also an asset class wherein a person’s financial stability is measured on the basis of the quantum of investment he or she has made in real estate.
Buying a house in India is a huge psychological and emotional decision for most middle-income group people and the highest priority is accorded to the repayment of housing loan as it is linked directly to a person’s status symbol. This behaviour is the same across income levels in India. In fact, as income increases, buyers start preferring weekend homes, holiday homes, luxury homes, among others.
