Currently home loan interest is about 8.50% -9% - way above rental yield. PLEASE DO NOT think of buying second, third, fourth … house with housing loan for let out.
Rental yield has always been low in India but substantial capital appreciation more than made up for it. But in the last 10 years, capital appreciation in many parts of the country has become quite low and even negative in large no. of cases.
This makes the thesis that real estate is an "investment" questionable.
Realty is essentially an end use asset and not investment.
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