10 Signs That You've Made It To Middle Class Status!

[KS]

It is Angannan Biriyani hotel(not Angappan as I mentioned) - It is in Variety hall road - This place is mentioned in Arul Movie as well.

https://foursquare.com/v/angannan-biryani-hotel/4c7b6d6e97028cfa39e1e0fe


Here is an article from Hindu as well.


The Hindu : Metro Plus Coimbatore : The great biriyani adventure

hehe angannan I know...I was just wondering where the hell was this Angappan....

 

[Contrarian]

And one more thing - owning these things are not necessarily the sign of a middle class..because my family definitely has the purchasing power to buy LED tvs for all the bedrooms, buy a +15 lakh car, take a foreign vacation every 3 years, eat for the mentioned amt outside etc...but they dont do it...but invest in lands and properties..this is not say that they dont spend on essential things..but there is a fine line between spending on things that you need and spending on luxuries/status symbols. And there are also people who have borrowed money all over the city, but have spent on these luxuries..on looking outside you will not know they are sunk in debt..so external appearances are highly deceptive.

And I've noticed people up North are a bit flashy as compared to their southern counterparts.

You said it before i could. By reading your first paragraph i instantly thought that you were South Indian. Most South Indians are just too stingy with spending, not that they dont have money, but they hardly ever spend it on things other than necessities!

North Indians spend what they earn on material and life comforts much much more. Dunno whether its a good thing or bad.

Prices for property are sky-high everywhere. In Karachi, a 1000 sq.m house in a slightly better-off area like Gulshan-e-Iqbal costs approx. 5-7 crore PKR depending on size of the house, garden, rooms etc. That's roughly 2-3 crore INR.

First-time buyers are toast. Those who bought property in the early days are much better off with the blessing they have. LEave houses, even rents are sometimes unaffordable.

And your last statement seems right. The criteria sets an upper-limit for the middle-class :s

You have no idea how comforting that is to hear! In Delhi you would hardly find any flat for less than 80-90 lakhs INR!
Bombay is downright absurd. 2 BHK's - 900 sq feet sell for nothing less than 1.5 Crore INR!
Dont even think about buying independent houses!
I could shift to Karachi after i have retired! A South Asian cosmo city with full utilities yet a lower cost of living

 

[Contrarian]

Koi plan nahi hai yar wesay hi poch raha tha.

@Don Jaguar.

You were given wrong figures when someone said 1.5-8 Crores. Just a 1500 sq feet flat in South Bombay - right on the beach- costs 20 Crore INR.
It varies a lot - its cheaper in North - but then its not bombay - it becomes Thane or other towns.

If you are talking of bombay bombay - then a 2 BHK flat in Bandra in a 30 story building - not the very posh South Bombay- would be atleast 2.5-3 Crore INR. And that would be old constructed flats. Newer ones cost quite a bit more than that.
You do the math.
I wont even dare to speculate on how much land would cost there!

 

[Don Jaguar]

@Don Jaguar.

You were given wrong figures when someone said 1.5-8 Crores. Just a 1500 sq feet flat in South Bombay - right on the beach- costs 20 Crore INR.

What?

It varies a lot - its cheaper in North - but then its not bombay - it becomes Thane or other towns.

If you are talking of bombay bombay - then a 2 BHK flat in Bandra in a 30 story building - not the very posh South Bombay- would be atleast 2.5-3 Crore INR. And that would be old constructed flats. Newer ones cost quite a bit more than that.
You do the math.
I wont even dare to speculate on how much land would cost there!

That 1 billion per flat info is also wrong i guess.

 

[RescueRanger]

Well, have you attained the coveted Middle Class status? (I’m not talking about higher or lower middle class). It’s neither. Defining "middle class" remains a challenge, as everyone wants to be in the middle regardless of their income. Instead of focusing on just the money in your bank, let's take a look at the lifestyle benchmarks that define middle class status:

Home Ownership

Do you own a house whose value is between Rs 30 and 60 lakhs?

Automobile Ownership

Have a car that costs between Rs 4 and 10 lakhs?

Health Coverage

A health insurance cover of at least Rs 10 lakhs?

Children’s Education

Are your children studying in Public schools that charge between Rs75,000 and Rs 1 lakh per year as fees? Or studying in colleges that cost more than Rs 3 Lakhs per year?

Plasma/LED/LCD TV 32” and above.

TVs in all bedrooms and maybe the living room too with at least one DVD/Blue Ray player.

Washing machine/dishwasher/clothes dryer/computer/iPad or equivalent.

These needless to say are a must.

Eating Out

Do you spend approx Rs 2000-5000 on eating out every month?

Vacations

At least one vacation abroad in two/three years.

Tax

Do you pay income tax of at least Rs 20,000 per year? (Does not apply to tax evaders!)

Club Membership

Are you a member of a reputed club in a metro.

If you’ve achieved these benchmarks, then congrats! You’ve made it to the Middle Class Club! Next stop? The Upper Middle Class! All the best!

Cheers!

Lol, looks like i made some shitty decisions in life.

 

[Iggy]

Robert Vadhra!!

He has entire Delhi land as his back yard.. Why should he settle for a mere 100 crore flat?

 

[Iggy]

Do you think..upper middle class can afford vacation abroad and club membership etc along with 60 lakh house EMI.....think again....

Actually yea, most of my friends and relatives who are not that rich went for vacations in Malaysia, Thailand, Singapore etc..

Air Asia is providing affordable packages.. There are lot of people who are visiting these places now a days..

 

[OrionHunter]

Too bad GOI recognizes middle class as anyone who earns above rs.36

Nope! That's the benchmark for the so called 'Below Poverty Line' natives. A middle class dude earns at least Rs 2000 per day!

 

[sms]

Nope! That's the benchmark for the so called 'Below Poverty Line' natives. A middle class dude earns at least Rs 1500 - 2000 per day!

1500 - 2000 per per day not enough to be middle class based on list you've posted. Let give you simple maths.

Monthly income = 50000 ...... @2000 per day for 25 days.
Income tax = 3800 ...... @ after some saving due to insurance

Income after tax= 46200
Mortgage = 20000 ....... for loan of 20 Lac for 20 years @ 10% interest assuming he bought cheaper property as he cannot afford 60 Lac house/ apartment
Car loan payment=10000 ....... Loan for 2 Lac for 3 yrs assuming he/ she has 2Lac + for advance payments
_________________________
Salary Balance = 16200

School fee = 7000 ...... assuming one kid in public school
Eating out = 2000 ...... Taking min expanse in your list
Car petrol/ maint. = 4000 ...... @600 KM/ Month , petrol, insurance, maintenance
Utilities = 2100 ...... taking lower side- including water/ gas/ electricity/ cable
_______________________
Balance = 1100 ...... for Food, clothes and emergencies
_______________________

Rs 1100 for month's expanse left when you are earning 50K/ month. Did you notice 1100/ month (Rs 36.66 / day) is the official Govt rate for not poor people.

Conclusion: You are not poor if you earn Rs 50K/ month. To be in medium class you need at-least Rs 80K

 

[OrionHunter]

1500 - 2000 per per day not enough to be middle class based on list you've posted.
Conclusion: To be in medium class you need at-least Rs 80K

What I meant was a minimum of Rs 2000 per day or Rs 60,000 take home pay after tax! And then nowadays you get car loans @ 8.5% for 7 years and not just 3 years that you mentioned! So you save a lot here. And then, many may have already paid back their home loans too!

Cheers!

 

[Iggy]

Home Ownership

Do you own a house whose value is between Rs 30 and 60 lakhs?

Nope, still in the name of Dad.. Have to fight with my brother for the ownership
Automobile Ownership

Have a car that costs between Rs 4 and 10 lakhs?
Have a bike worth 85 thousand but mum is paying the installments

Health Coverage

A health insurance cover of at least Rs 10 lakhs? Dont even have a job

Children’s Education

Are your children studying in Public schools that charge between Rs75,000 and Rs 1 lakh per year as fees? Or studying in colleges that cost more than Rs 3 Lakhs per year? Not yet.. Still trying to convince my mum that I am matured enough to get marry

Plasma/LED/LCD TV 32” and above. Still using the TV with a big bad A$$

TVs in all bedrooms and maybe the living room too with at least one DVD/Blue Ray player.

Washing machine/dishwasher/clothes dryer/computer/iPad or equivalent. Have all those but parents paid for it

These needless to say are a must.

Eating Out

Do you spend approx Rs 2000-5000 on eating out every month? I would love to but local shops here dont charge much for chai and porotta

Vacations

At least one vacation abroad in two/three years. Does vacation outside my village counts??

Tax

Do you pay income tax of at least Rs 20,000 per year? (Does not apply to tax evaders!)Naa..Fnt even have money to drink a tea let alone tax

Club Membership

Are you a member of a reputed club in a metro.Yea!! Bhagat Singh Arts and Sports cub.. His name is very reputed!!

If you’ve achieved these benchmarks, then congrats! You’ve made it to the Middle Class Club! Next stop? The Upper Middle Class! All the best!

Cheers!


Man!! My life is really fucked up!!

 

[sms]

What I meant was a minimum of Rs 2000 per day or Rs 60,000 take home pay after tax! And then nowadays you get car loans @ 8.5% for 7 years and not just 3 years that you mentioned! So you save a lot here. And then, many may have already paid back their home loans too!

Cheers!

LOL you did not get sarcasm! I was twisting numbers to pull your leg
50~60K are good enough to live a decent life in India.

 

[agamdilawari]

That's DLF Aralias in Gurgaon(NCR).

A flat here costs between 20-22 crores INR. The famous DLF-Robert Vadra case had no mention of a Penthouse in name of Priyanka Gandhi here worth 40 crores INR. Getting a flat on rent ranges from 3-4 lakhs per month, same for penthouse is 7 lakh. Hell, even maintenance paid by the owner pm is close to 40k

 

[Contrarian]

What?



That 1 billion per flat info is also wrong i guess.

Yup. That society is not on the beachside. The prices are roughly 15 Crore INR for a flat there.

But it would cost you nothing less than 100 crores to buy a 1,000 sq yard house in South Bombay. A more realistic number would be multiple times that.

 

[Don Jaguar]

Yup. That society is not on the beachside. The prices are roughly 15 Crore INR for a flat there.

But it would cost you nothing less than 100 crores to buy a 1,000 sq yard house in South Bombay. A more realistic number would be multiple times that.

Can you specify from this map which areas are included in south mumbai?

mumbai - Google Maps