Seriously considering selling my Bangalore flat and moving to Tier-2. The metro dream is over for middle class.
I think it's finally time to accept defeat. I earn ₹35LPA, wife earns ₹20LPA. In 2015, we were "rich". Today, we are barely middle class in Bangalore/Mumbai/Hyd.
We have a 2BHK worth ₹1.6Cr. To upgrade to a "decent" 3BHK in a gated community, the asking price is ₹3Cr+. Who is buying these? My broker says 70% of his sales in Whitefield/Sarjapur are to NRIs or "Dollar folks".
They are buying unseen, paying 100% cheque. We locals earning in INR simply cannot compete with Dollar inflation. There is no way a 3BHK construction cost + land value equals ₹3 Cr. It's purely inflated by NRI money parking.
So here is the plan: Sell the 2BHK for ₹1.6Cr. Move to mysore/Coimbatore/Vizag. Buy a PALACE of a villa for ₹1.5Cr. Live debt free. Work remote.
Is anyone else actually doing this? Or is it just a fantasy?
5 Replies
100% true. I work in Sales. Every launch in Gurgaon or Hyd, the "Pre-launch" is sold out to NRI investors. They hold it for 2 years and flip it at 40% profit to end-users like us.
We are not buying homes, we are buying their exit liquidity.
Why the hate for NRIs? We work hard, leave our families, live in cold countries, and want to invest back home for our retirement.
We are not "parking money", we are securing our future just like you. And frankly, ₹3Cr is $350k. That is not "rich" in US terms, it's a basic starter home price. The problem is Indian rupee devaluation, not us.
I did exactly this in 2023. Sold flat in Kondapur, moved to Vizag (Rushikonda area).
Quality of life upgrade is insane.
- Traffic: 0
- Pollution: Low
- Beach view from terrace.
- School fees: 50% of Hyd.
Only con: Career growth. If you lose your remote job, you are stuck. You have to be very sure about your job stability.
Grass is always greener.
wait until you need specialized healthcare or your kids need top-tier coaching. Or you just want to go to a decent pub on a Tuesday. Tier-2 is great for retirement, boring for 30s. You will come back to Metro in 2 years.
The Tier-2 trend is real but prices there are rising faster than metros in percentage terms.
Ayodhya, Jaipur, Kochi have seen 20-30% appreciation last year. If you wait too long, you will be priced out of Tier-2 also!
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