‘Don’t get me wrong, I don’t want to buy this’: ‘I’ve already spent more than Rs 1 crore on this house’

“I have already spent Rs 1.5 crore on the house,” says Mr. Bhagwan.

“It’s worth less now, but I have already done everything.”

He is also saving money by purchasing a brand-new, five-star, modern, luxury home in New Delhi.

Mr. Thakur is also living in a six-star house in Delhi, and plans to spend his next couple of months in the capital.

He has already spent around Rs 1 lakh in cash on his first home.

“I will be spending over Rs 2 lakh in this house,” he says.

“The money will be spent in the next couple months.

It’s just like the old days.”

Mr. Jeevanthi, who is planning to buy a six storey, five star home in Delhi and has invested around Rs 3 lakh on his house, is a regular visitor to Mr. Chandrasekhar’s home.

He says he spends Rs 2,000 to 3,000 a month for his home.

But he says he has not used the money yet.

“My main concern right now is to build my house,” Mr. Kothari says.

He believes the house, which he has bought with his wife and children, will help him to build a career in real estate.

“We have already invested Rs 1,000,000 into the house.

I’m going to use the money to build another house and a restaurant.”

But he has no plans to buy another house.

“There is no money in the bank, no money at home,” he adds.

“But, this is a way of life.”

Mr Thakurs wife, Jashna, who has a bachelor’s degree in education, says she is happy to see a change in the way people are spending their money.

“People have realised that they can’t save, that they have to spend their money to buy everything they want,” she says.

‘It’s not a luxury’ Mr. Nagesh Sharma, an analyst with ING, agrees.

“These are the people who are still spending their time and money.

But it’s not luxury, it’s just money,” he said.

“A lot of people have been thinking about saving money and that’s good.

But now, the government needs to get a grip.

They need to have a real sense of urgency.”

But not everyone is so convinced that the government is taking proper action.

“They (the government) are just using the word luxury.

People are being very picky about this,” says Ms. Nambiar, who lives in New Dehli.

“When you spend your money on a house, the money is going to be used to buy luxury items.”

‘Not a luxury, just money’ The issue of what constitutes a luxury item has become a contentious one.

Mr Chandrase, the resident real estate agent, says he feels that he is doing his best to make people realise the value of the home he has purchased.

“That’s what makes me really proud.

I am proud of my work.

The quality of the house is important,” he added.

“You don’t have to buy the house and leave it empty.

But when I see a property like that, I can feel the value,” he told NDTV.

“This is what we call a luxury property.

The owner will be happy.”

For Mr. Kumar, it is a matter of saving money rather than the luxury of the property.

“What I’m really worried about is how much money I have saved,” he explains.

“Even if I don, I will still have to sell my other home.

I have no money for a second home.”

“The government has taken some steps, but not enough.

They (the buyers) have been saving their money, but there is no real effort.

They should have invested in the property and not bought it.

If I buy the home, the bank will loan me Rs 1 million,” Mr Kumar adds.

‘The whole market is collapsing’ Mr Chandraks concerns are echoed by many other buyers who are not making as much as they would like to.

“Everybody is trying to save their money,” says P. S. Dhir, a real estate developer from New Deha.

“For most of us, we have already sold our homes and are looking at buying new properties.”

“We are saving Rs 1-2 lakh.

If the government has started to invest in our properties, we should have no problem,” he predicts.

But this is not the case.

“Most of us are buying houses for cash, but that is not saving,” says M. Raghuvans, a broker with ITC.

“Every single house has been sold.

Now, people are trying to buy houses for Rs 2-3 lakh.” But this