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

[RazorMC]

Forget Delhi, we had about 20 Katha land in this small as town called Bhagalpur in Bihar, sold it last month for 15 lakh/katha. The property price in India has gone through the roof, not a good news for first time home buyers.

For the price of a 3 bedroom flat in New Delhi, you can buy a massive mansion in Sydney or a beach side property in small towns in Aus. Its ridiculous.

Coming back to the topic, i think this criteria is more upper middle class status.

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

 

[Sedqal]

Not in India - The only difference in India is when the property boom crashes, the profit margin levels come down but there will be no loss - the reason is large population.

Property boom is not related with population, its somewhat related to investment potential of said population and deeply related to greed of making a fast buck, unless you are into property business and know the market dynamics (and when to lay off the asset to some starry eyed sucker) 9 out of 10 times you will overvalue the lot and buy at a huge premium (then stick with a dead asset with the hope that it may shine someday).

 

[Zabaniyah]

Forget Delhi, we had about 20 Katha land in this small as town called Bhagalpur in Bihar, sold it last month for 15 lakh/katha. The property price in India has gone through the roof, not a good news for first time home buyers.

For the price of a 3 bedroom flat in New Delhi, you can buy a massive mansion in Sydney or a beach side property in small towns in Aus. Its ridiculous.

Coming back to the topic, i think this criteria is more upper middle class status.

Same in Bangladesh. Rising population = sky-rocketing land prices. Which is a good thing since my family also own land and property

Australia is not densely populated at all, so.....

Property boom is not related with population, its somewhat related to investment potential of said population and deeply related to greed of making a fast buck, unless you are into property business and know the market dynamics (and when to lay off the asset to some starry eyed sucker) 9 out of 10 times you will overvalue the lot and buy at a huge premium (then stick with a dead asset with the hope that it may shine someday).

Depends on the area ultimately. And yes, population density does play significant a role. For the price of a 900 Sqft apartment in Dhaka, you can buy a neat house in Malaysia!

 

[Kashmiri Nationalist]

It seems the Indian middle-class is more prosperous than the Western Middle Class.

 

[tvsram1992]

no no no no no yes no no no no
1/10 , im from very lower middle class

 

[OrionHunter]

What kind of a moron will buy a flat for 100 crore??

Robert Vadhra!!

For that kinda money I'd prefer an F-35!!

 

[Contrarian]

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

Cut out a vacation and maybe a club membership, an upper middle class can definitely afford a 60l house. It takes 15 years to wipe that loan off, but they do it.

 

[Sashan]

Cut out a vacation and maybe a club membership, an upper middle class can definitely afford a 60l house. It takes 15 years to wipe that loan off, but they do it.

Club membership can be cut out but vacation is important these days to rid of the stress due to lifestyle the middleclass has today.

 

[KS]

2000-5000 eating outside ? Lol wut ?

The middle class is some of the stingiest among all social spectrums.

i think this criteria is more upper middle class status.

UMC that is well on its way to the upper class.

I cant think of a single middle class family that wants to be a member of a reputed club or spends 5000 pm eating out...

Enjoy your life in small non metro towns or even in villages???? Where there's no Pizza Hut, no Dominoes, no swanky shopping malls, no multiplexes, no Baskin Robbins, and no chicks?? Jeeez! You must be from Laluland!!

Honestly I would prefer the rural/sub-urban life anyday to the swanky mall multiplex area. But then thats just me. Having grown up in a area with individual homes, privacy and lots of open space, I detest the apartment lifestyle in cities.

 

[Nair saab]

Till Today i thought myself to be a part of privileged Middle class... thanks for making me feel insecure... i just own a 2 BHK flat in Navi Mumbai that too on 50% loan ... Had a bullet which i sold few years back to pay my bank installment ... No 2 wheeler, no 4 wheeler ... no Foreign trip , no health insurance , No club membership , No dish washer , No LED TV ... although what ever i have today is hard earned by my own sweat... as my family didnt have any asset on which i could bank upon ... considering my age which is 25 i think i have a long way to go now...


I think i am the poorest among PDF member ...

 

[KS]

Just booked a 3 bedroom villa in DLF lucknow for around Rs.55 lakh and it is expected to multipy 4 times within the next 5 years
If u have $$$ in India then there is no better investment than infrastructure

3 bedroom villa in lucknow for just 55 lakh...thats a steal!!..whats the built up area in sq.feet ?

Till Today i thought myself to be a part of privileged Middle class... thanks for making me feel insecure... i just own a 2 BHK flat in Navi Mumbai that too on 50% loan ... Had a bullet which i sold few years back to pay my bank installment ... No 2 wheeler, no 4 wheeler ... no Foreign trip , no health insurance , No club membership , No dish washer , No LED TV ... although what ever i have today is hard earned by my own sweat... as my family didnt have any asset on which i could bank upon ... considering my age which is 25 i think i have a long way to go now...


I think i am the poorest among PDF member ...

At 25, you've done good to own a flat. Congrats.

 

[KS]

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.

 

[KS]

Club membership can be cut out but vacation is important these days to rid of the stress due to lifestyle the middleclass has today.

Middle class vacation is primarily religious vacation. And no Hindu religious place exists outside India.

 

[Nair saab]

At 25, you've done good to own a flat. Congrats.

Kya yaar ... now i have to do part time job to pay my home loan & other loans ...i am paying the home loan since last 6 years when i started my last year Diploma ... still there is no change in the Principle amount even after me completing Diploma & BE... now i am seriously thinking of selling the flat to fund my further studies shifting along with my Amma to a rental flat...

Loan is a killer ... it eats all the money in ur pocket but still remains hungry like a beast scavenging on ur dead body...

 

[KRAIT]

Kya yaar ... now i have to do part time job to pay my home loan & other loans ...i am paying the home loan since last 6 years when i started my last year Diploma ... still there is no change in the Principle amount even after me completing Diploma & BE... now i am seriously thinking of selling the flat to fund my further studies shifting along with my Amma to a rental flat...

Loan is a killer ... it eats all the money in ur pocket but still remains hungry like a beast scavenging on ur dead body...

I think you have done pretty well considering that you are just 25. I wish you keep on working hard like this and achieve whatever you want.