Most corrupt I've seen: Finfluencer on Indian metro real estate market
India's metro real estate market is 'one of the most corrupt' spaces in the country, according to finfluencer and financial educator Akshat Shrivastava, who recently stirred debate online with a blunt critique of how property prices in big cities remain inflated by black money and speculative hoarding.In a widely shared LinkedIn post, Shrivastava claimed that just nine families control nearly 20% of Mumbai's real estate, wielding disproportionate power over pricing."Real estate in Indian metros is one of the most corrupt I have ever seen," he wrote, pointing to how untaxed money continues to fuel demand—not out of necessity, but to park wealth securely in physical assets.
advertisement'Rich businessmen deal with black money the only option is to buy real estate or physical gold,' he explained. That capital, according to him, goes into properties that are often left vacant. 'These rich guys don't need to rent. They're cool with keeping properties vacant,' Shrivastava added.
He explains that the result is a distorted market where home prices soar, rental yields shrink, and the average middle-class buyer is left chasing an increasingly unattainable dream. 'You don't need to own a house in a metro,' Shrivastava said, arguing that many end up buying at inflated rates for paltry rental returns—typically around 2–3%—while locking in long-term debt."Anyone telling you to buy a property in metros to get your 2-3% yield is a sales agent disguised as YouTuber,' he warned.He urged potential buyers to do the math before investing, especially in metros, and suggested buying homes only when rental yields exceed 4%. "Treat your house as lifestyle, not investment," Shrivastava wrote. "People lie, math does not."advertisement(This article is for general informational purposes only and does not constitute financial advice. Readers are encouraged to consult a certified financial advisor before making any investment or financial decisions. The views expressed are independent and do not reflect the official position of the India Today Group.)- Ends
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