"Automobiles, electronics, clothes, etc, all become 'second-hand' after being sold by the first owner, but a house is never second-hand. It will still be somebody's first home," believes 66-yearold retired banker Arun Sharma. The fact that his 1-BHK flat has appreciated to about Rs 1.2 crore within nine years is a matter of joy and pride for Arun and Alka Sharma. "I have lived in NABARD quarters throughout my career and never felt the need to own a home in the city. However, with just two years left for retirement, I booked this one in Thane for Rs 36 lakh, only because my wife wanted one," says Arun.
Financing our dream home
Gathering their family savings and maturity amounts from mutual funds invested over several years, the Sharmas were finally able to secure their dream home. Arun explains, "I initially took a home loan of Rs 12 lakh but was able to close it soon after retirement using some of my PF and gratuity amounts. Thus, I retired with no liabilities but only assets in hand."
Upward mobility
When the Sharmas took possession in 2013, there were hardly any shops around and even the roads were not completely done. "Today, there are about 25 retail outlets in the vicinity with another two-three more projects launched recently. Thane has bloomed in a very short span of time as a relatively affordable destination in Mumbai. I would encourage all Mumbaikars, especially the younger generation, to think seriously about a home for their family," advises Alka Sharma.
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Source: content.magicbricks.com
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