Rooted in Realty: India’s Property Passion

Property is seen as a multi-generational asset that means safety and usable as a hedge whereas rent is considered ‘rinse money’

- Dr. Prashant Thakur

“Beta, ek ghar toh apna hona chahiye...” —a phrase every Indian has heard growing up, echoing through generations, across dining tables, and WhatsApp family groups. Owning real estate is not just an aspiration in India — it is woven deep into our cultural, emotional, and even spiritual fabric. What lies behind this deeply embedded love affair with property? We can partially decode it through anecdotal examples, data, and a look into the Indian psyche.

Legacy Over Liquidity

In many Indian households, a home is the only tangible inheritance passed down through generations. We often hear stories of ancestral homes that have stood for over a century, becoming a family's identity.

In Kolkata’s Shobha Bazar, a 120-year-old mansion still houses five generations under its roof. It has weathered Partition, political upheavals, and latter-day redevelopment offers, but the owners refuse to part with it. “This home is our history,’ the octogenarian matriarch says.

According to 2023 ANAROCK report, 68% of Indian homebuyers are end-users, and a whopping 80% plan to pass on their property to their children. Unlike supply/demand and pricing, such data does not tend to change - it represents the psyche, not the market. It reaffirms that in India, real estate is not just about investment but also about legacy.

Culturally Conditioned