Daily, we are reading about the fall in the prices of property and the further expected falls. While speaking to a gentleman who stays in my building, and happens to be a doctor, I asked him about the progress of his plans to shift from rented place where he runs his dispensary to a place of his own. He informed me that he has put off the plan as of now. He explained that he had infact seen a place for 32 lacs. But now that the expected fall is to be in a range of 25-30%, he feels it is better to sit on his money and save atleast 10 lac rupees. Not a bad saving. So the old saying of cash is the king surely works for this gentleman. Saving 10 lac is not an easy thing and is certainly a big thing. He says even if I pay around 20000 rent per month, I am shelling out only 2.4 lacs. So still I save 7.6 lacs. Smart guy.
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