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Don't you find it a bit ridiculous that the seller has the gall to ask almost 600k when the buyer must make under 30k a year? HDFCs were set up to keep housing costs affordable to low income people. Tell me what low income person--except for someone who receives a gift from family, has an inheritance, has a rich family and doesn't have to work much, or is hiding income--can afford this? That's 50x their annual salary.
Don't you find it a bit ridiculous that the seller has the gall to ask almost 600k when the buyer must make under 30k a year? HDFCs were set up to keep housing costs affordable to low income people. Tell me what low income person--except for someone who receives a gift from family, has an inheritance, has a rich family and doesn't have to work much, or is hiding income--can afford this? That's 50x their annual salary.
Its not that bad. its actually perfect for someone in retirement that sold a house and wants to downsize in the city.
its is a deal. its big and the price per sq is about half for the area.
HDFC dosent mean for poor people, was intended to be for people below the average for the zone.
and that zone its expensive.
The Catch 22 extends to the "lot of cash" You cannot have anywhere NEAR the all-cash price and qualify.
Actually NOBODY can qualify.
you can have cash, a lot of it. you can buy the whole thing cash.
with the current regulatory agreement there are not mandatory assets limits. Some coops do have by laws about it, but thats not common.
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