Latest news with #AbhishekKumar
Hindustan Times
2 days ago
- Business
- Hindustan Times
109 years in Mumbai, 64 years in Gurugram: Can top earners still achieve homeownership in major cities?
In cities like Mumbai, Gurugram and Delhi, even the top earners face an uphill battle when it comes to homeownership. According to recent National Housing Board (NHB) data, the top 5% of income earners in Mumbai would need a staggering 109 years to afford a home, while in Gurugram, it's 64 years, Delhi, it's 35 years and Bengaluru, it's 36 years. These figures highlight the stark reality that homeownership is slipping out of reach, even for those in the highest income brackets. According to recent National Housing Board (NHB) data, the top 5% of income earners in Mumbai would need a staggering 109 years to afford a home, while in Gurugram, it's 64 years, Delhi, it's 35 years and Bengaluru, it's 36 years. (Representational Image)(Unsplash) But does this mean homeownership in these cities is impossible? Not necessarily. While the path to buying a home in major metros has become more complex, it isn't impossible. The key lies in creative financing, compromise on size or location, and a fundamental shift in how we think about property investment. 'The mathematical calculation behind this claim is both accurate and alarming,' says Abhishek Kumar, a Securities and Exchange Board of India (Sebi)-registered investment advisor (RIA), and founder and chief investment advisor of SahajMoney, a financial planning firm. The top 5% of urban households in Maharashtra have a monthly per capita consumption expenditure (MPCE) of ₹ 22,352. For a family of four, this translates to a monthly income of ₹ 89,408 or approximately ₹ 10.7 lakh annually. Assuming India's gross savings rate of 30.2%, these wealthy families can save approximately ₹ 3.2 lakh per year. Compared to this, the average price per square foot in Mumbai is around ₹ 30,000, and for a standard home size of 1,184 square feet, the total home cost is ₹ 3.54 crore. So, he explains, the total years needed to afford a Rs. 3.5 crore house come out to be 109 years. While Mumbai is the most unaffordable metropolis in India, the situation in other cities like Gurugram and Bengaluru is also alarming. 'The affordability crisis extends across India's major metropolitan areas as affordable housing supply (homes under ₹ 1 crore) has declined dramatically across major cities. With no surprise, Mumbai maintains the highest EMI-to-income ratio at 48%, meaning households must allocate nearly half their monthly income to home loan payments. In contrast to this, Ahmedabad at 18% is most affordable,' says Kumar. The EMI-to-income ratio shows how much of your monthly income goes toward the loan EMI. For example, if you earn ₹ 1 lakh and pay ₹ 30,000 EMI, your ratio is 30%. Read More: Planning to buy a ₹ 2 crore home? A large down payment can ease your EMI burden and reduce financial stress Can you afford a house? Is it impossible to buy a house in a big city? 'Not impossible, but certainly harder than ever before. When even the top 5% of earners in a state like Maharashtra would need 109 years of savings to buy a modest home in Mumbai, it says a lot about how skewed the housing equation has become,' says Charu Pahuja, group director and COO, Wise Finserv (Private Wealth). For most people today, owning a home in a big city isn't off the table, but it comes with real trade-offs. It could mean taking on a 25-year loan, pooling incomes with a spouse or family, buying far from work and enduring long commutes, or postponing other life goals just to make the EMI fit. We recently looked at how you can afford a home worth ₹ 2 crore and how a large down payment can reduce your EMI burden. Like anything else you buy, you need to be able to afford your home. In fact, the bank will not lend you the money required to buy a home if your income does not support it. 'The right way to estimate affordability is to figure out how much funds are available for down-payment, stamp duty, registration, home furnishing, etc. and what is the loan affordability,' says Animesh Hardia, senior vice president, Quantitative Research at 1 Finance, a personal financial management and planning platform. The classic dream of buying a comfortable home in the heart of the city through years of disciplined saving is slowly giving way to a more complex reality. 'Now, buying a home often requires compromise, creativity, and a shift in mindset. It's still possible, but it's no longer simple,' says Pahuja. Read More: To rent or sell property? Here's what you should know to make the right decision The smart middle path between buying and renting In today's housing market, owning where it's affordable and renting where it's practical is becoming the smart middle path for many working professionals. Let's be real, buying a home in the heart of a big city often means years of debt or settling for something far from work, with exhausting commutes. On the flip side, Tier 2 cities offer better value, more space, and growing potential without the price tag that keeps you up at night. Owning a home, even in a different city, can still give you that sense of emotional security: 'I have something of my own.' And continuing to rent in the city you work in lets you stay close to your job, kids' school, and social life without being tied down by a crushing EMI. 'This hybrid model works best when you're financially stable enough to handle both rent and EMI, you see your Tier 2 home as a long-term investment, not a quick flip, and you're okay with living flexibly for a few more years,' says Pahuja. Your home in the Tier-2 city can also be put on rent, giving you an additional income. For many, this is a realistic way to build wealth without sacrificing everyday comfort. You're not giving up the dream of homeownership, you're just redefining how and where it fits into your life. Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
Time of India
2 days ago
- Entertainment
- Time of India
Bigg Boss 17 fame Abhishek Kumar opens up about how superstar Salman Khan gave him an important advise; says 'he likes me'
Abhishek Kumar rose to fame with his appearance on Bigg Boss 17, and ever since, his career has been on a steady upward direction with no signs of slowing down. After the controversial reality show, Abhisek has been busy working with back-to-back shows in his kitty like Khatron Ke Khiladi, Laughter Chefs season 2 and Tu Aashiki Haii. Recently, in a podcast, Abhishek Kumar shared that at the Bigg Boss 18 wrap-up party, Bollywood star Salman Khan praised him and knew all about what was going on in his life. He also talked about the important advice the Bajrangi Bhaijaan actor gave him. Abhishek said, "Bigg Boss 18 ki party horahi thi, Salman sir unhone mein mujhe bulaya, unhone mujhe bulake aise mujhe hug kiya hua tha aur mera haath pakda tha. Phir unhone kaha look at this guy, when he came to Bigg Boss he was nothing but today he is doing back-to-back shows, earning money. Abhishek tell him, "Khush hai na tu?" Maine bola haan sir khush hoon main... Then he said, abhi isne ek nayi car li hai... kaunsi... Rubicorn. Maine bola sir aapko kaise pata?" (The Bigg Boss 18 party was going on when Salman sir called me over. He hugged me and held my hand. Then he said, 'Look at this guy. When he came to Bigg Boss, he had nothing. And now, he's doing back-to-back shows and earning well.' He turned to me and asked, 'Abhishek, you're happy, right?' I replied, 'Yes sir, I'm happy.' Then he said, 'He's even bought a new car… which one… Rubicon.' I was surprised and asked, 'Sir, how do you know that?'') He added, "I have been a huge fan of Salman Khan since childhood, that person knows everything about my life.. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fully Loaded 4 BHK apts for 4.49 Cr(All Incl)* in Sec 104 ATS Triumph, Gurgaon Book Now Undo Main Salman khan dhang se bol bhi nahi pata tha... woh insaan mere baare mein jaanta hai, woh soch ke mujhe kitni khushi mili. He likes me bhai.. He kept holding my hand till 8 am in the morning, one hand on my shoulder and did not let me leave." Abhishek further mentioned about a piece of advise Salman Khan gave him, "At the end when I was leaving, he touched his feet and he told me, "Accha meri ek baat maanega? maine bola sir kya? he said, "Ye daant ka gap fill karwale zindagi mein bahot aage jaayega..." Abhishek has also worked in TV shows like shows like Bekaboo and Udaariyaan. Abhishek Kumar on Laughter Chefs, Salman's Praise & Bigg Boss Journey
India Today
2 days ago
- Business
- India Today
No guarantees in mutual funds: Investment adviser warns against risky PF advice
'Withdraw your PF and invest in mutual funds. I can get you 12% guaranteed.' That's what a financial advisor told someone recently. Sounds smart? 'It's actually reckless advice,' said Abhishek Kumar, a Sebi-Registered Investment Adviser and founder of SahajMoney.'Because here's the truth: no one can 'guarantee' 10–13% returns in mutual funds. That's not how market-linked products work,' he said in a recent Linkedin post. advertisementKumar, who has been in the financial planning business for over 15 years, says he has seen many such cases—'well-meaning families being misled in the name of 'higher returns.'' He calls this kind of advice dangerous, especially when it involves the Provident Fund, or PF. 'PF is your retirement safety net. That money is meant to grow slowly, safely, and tax-free. Touching it for higher-risk products can wreck your future security.'While mutual funds can be valuable tools for wealth creation, Kumar stresses they are not meant to replace guaranteed instruments. 'Mutual funds are great, but not for guaranteed income. Returns are market-driven. One year may give 15%, another might give -2%.'advertisementThe push for guaranteed returns, he adds, often comes from individuals who don't have the investor's best interests in mind. 'Many 'advisors' are actually sales agents. They earn commission when you invest through them. That means their advice often serves their income, not your goals.'And just because it's possible to withdraw PF doesn't mean it's the right choice. 'Yes, you can withdraw PF. But should you? Unless there's an emergency or a solid retirement backup—don't mess with it.'Kumar also points out that 'risk isn't always visible up front.' 'When the market crashes, it's not the advisor who suffers—it's you,' he added. His advice for individuals is to stay alert and avoid falling for promises related to market-linked returns. 'So take 'guarantees' with a mountain of salt. If your advisor pushes risky products with fake guarantees, fire them. A real advisor will protect your peace of mind, not gamble your future.'(Disclaimer: 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
News18
6 days ago
- Entertainment
- News18
Neena Gupta Scolds Abhishek Kumar On Laughter Chefs: 'I Will Throw You Out'
Last Updated: Abhishek Kumar and Samarth Jurel, who are mostly seen joking around on Laughter Chefs, will be getting schooled by Neena Gupta soon. The upcoming episode of Laughter Chefs season 2 will be graced by Neena Gupta, Sara Ali Khan, Aditya Roy Kapur and Anurag Basu. They will be seen promoting their movie Metro…In Dino and taking part in cooking challenges along with the contestants. Recently, Colors TV dropped a promo, revealing that veteran actress Neena Gupta will be paired with Abhishek Kumar and Samarth Jurel in the episode. The three will be seen getting into a fun banter during their cooking challenge. The promo depicted that Abhishek and Samarth, who are mostly seen joking around instead of cooking on the show, will be getting schooled by Neena Gupta. The actress was seen instructing them to do chores. When Samarth was seen leaving his cooking station, Neena called him back and shouted, 'Hello hello, leave that and come here." This left other contestants like Krushna Abhishek and the host, Bharti Singh, laughing out loud. Watch it here: View this post on Instagram A post shared by ColorsTV (@colorstv) Abhishek Kumar and Samarth Jurel's chemistry on Laughter Chefs is widely loved by all. Their bond. which began on a sour note inside the Bigg Boss 17 house, has now blossomed into a solid bond. In a chat with The Times of India, Abhishek reflected on their friendship and shared, 'Samarth and I share a great bond and get along really well. Ab koi ladai jhagda nahi hai humare beech (There's no conflict between us anymore). Even when we talk about our past or incidents from Bigg Boss, we do so in a lighthearted manner. We communicate everything in a positive and healthy way." Talking about his experience on Laughter Chefs 2, Samarth Jurel also added, 'I am having an amazing time shooting for Laughter Chefs, but cooking with Samarth is an absolute disaster! He can ruin even a perfectly good dish—he has no idea how to cook. In fact, whatever I prepare, he comes in at the last minute and messes it up. Then we're left with no choice but to steal ingredients!" Meanwhile, it was recently revealed that Abhishek Kumar and Samarth Jurel will reunite with their ex-girlfriend, Isha Malviya, during the finale episode of Laughter Chefs season 2. Reportedly, the actress will be gracing the episode with several other television celebrities, including Shraddha Arya and Divyanka Tripathi. First Published:
India Today
20-06-2025
- Business
- India Today
Is lifestyle inflation fuelling debt among India's middle class?
The paycheque is bigger, but the wallet feels thinner. Across urban India, many salaried professionals are earning more than they did five years ago, yet they're still anxious at the end of each month, juggling EMIs, credit card bills, and shrinking culprit isn't just stagnant salaries or rising costs. It's what personal finance experts call lifestyle inflation—the quiet, creeping habit of spending more as you earn it's starting to show up in debt IS LIFESTYLE INFLATION? Lifestyle inflation refers to the tendency to increase spending in line with income growth. A salary hike often triggers upgrades: a bigger house, a newer car, fancier gadgets, or more frequent eating out. But these expenses can quickly outpace actual earning power if not kept in check.'It's a major concern,' says Abhishek Kumar, SEBI-registered investment advisor and founder of SahajMoney. 'Even professionals earning substantial salaries are left with limited disposable income. As their income grows, so do their expenses, often faster than the income itself.'Over time, this pattern erodes financial flexibility. A higher salary that once promised upward mobility ends up funding short-term gratification and long-term liabilities.A SALARY HIKE, FOLLOWED BY AN EMIWith every job switch or annual raise, many professionals slide into bigger EMIs and costlier routines. But when those income jumps are modest, the math doesn't hold. 'High earners are increasingly falling into what I call the 'new middle class.' They earn well but feel stretched every month,' says Now, Pay Later (BNPL) schemes, no-cost EMIs, and credit card offers make it easier than ever to overspend. 'These products change behaviour. They make expensive purchases seem affordable by breaking them into smaller chunks, but the cumulative burden strains monthly budgets,' he often creeps in gradually until repayments consume a third or more of someone's WARNING SIGNSThe red flags of lifestyle overextension often go unnoticed. 'Living paycheck to paycheck despite a good salary, relying on credit for groceries or bills, dipping into savings for everyday needs—these are all warning signs,' Kumar use of short-term loans, missing credit card due dates, and falling credit scores are also markers that someone is living beyond their patterns are no longer rare. Personal loan growth among salaried urban professionals is at a record high, and delinquencies in BNPL accounts have been rising SOCIAL MEDIA TRENDSThe psychological triggers behind lifestyle inflation are just as strong as the financial ones. 'FOMO is real,' Kumar notes. 'Social media creates the impression that everyone else is doing better. That pressure pushes people to upgrade faster than they can afford.'A curated life on Instagram or an aspirational reel can influence everything from vacation plans to restaurant bills. But these comparisons often come at a financial SAVINGSadvertisementPerhaps the most damaging effect of lifestyle inflation is what it crowds out: long-term savings. 'When people spend more on lifestyle, they invest less for the future. And those early years are critical for building wealth,' Kumar out on compounding in your 20s or early 30s can delay financial goals by years. A few indulgences now might mean postponing retirement or taking on more risk restraint doesn't mean austerity, but balance is key. 'Start with the 50-30-20 rule. Allocate 50 percent to needs, 30 to wants, and 20 to savings and investments. It helps you stay grounded,' Kumar also recommends automating investments, limiting EMIs to essential purchases, and using a 24-hour pause before big-ticket buys. 'Clarity is crucial. It's not just about what you earn, but how you make that income work for your life goals.'Because income alone doesn't build wealth. Discipline does.
