Facebook Pixel GHOST MANSION FALLACY: BUILDING PALACES WE NEVER LIVE IN | Mint Hyderabad - newspaper - Read this story on Magzter.com

Try GOLD - Free

GHOST MANSION FALLACY: BUILDING PALACES WE NEVER LIVE IN

Mint Hyderabad

|

January 15, 2026

It's a familiar sight across India's hinterland-from the green pockets of Kerala and the Konkan coast to the plains of Bihar and Punjab.

- AJAY PRUTHI

You drive past rows of village homes and suddenly see it: a massive, three-storey, brightly painted concrete palace, with grillwork, a towering gate and a terrace big enough for a game of cricket. Look closer, though, and the windows are dark. The gate is rusted shut. The only occupant is a bored chowkidaror perhaps an elderly uncle using just one room.

This is the Ghost Mansion. Built by a successful son working in Mumbai, Dubai or Bengaluru, it cost ₹60 lakh to construct. He flew in for the grand griha pravesh, fed the entire village, basked in the moment-and three days later locked the house and flew back. Back to a 600-sq-ft rented apartment, arguing with his landlord over water timings.You built a castle for others to admire, while living in a matchbox apartment to pay for it.

The psychology: Brick and mortar respect

In India, real estate is not just an asset-it is a biography. For families raised in mud houses or modest homes, a pucca, multistorey house becomes the ultimate certificate of arrival.

It is a billboard to the village: My son made it. The tragic irony is that such houses are rarely built for utility. They are built for the neighbour's gaze. You add a second floor not because you need space, but because Sharmaji's son built one last year. Or you lay Italian marble in a home destined mostly for dust and spiderwebs.

The Financial Black Hole

MORE STORIES FROM Mint Hyderabad

Mint Hyderabad

Why some people put on poverty as though it’s make-up

In his first speech as chief minister of Tamil Nadu, Joseph Vijay said in Tamil, “I have known poverty; I've known hunger. I am not from some royalty.”

time to read

4 mins

May 18, 2026

Mint Hyderabad

Mint Hyderabad

Why Bollywood stars are buying rights to their old hit movies

Actors long associated with iconic film roles are increasingly acquiring rights to older hits, betting that nostalgia-driven intellectual property can generate fresh value through remakes, sequels, streaming, licensing and franchise extensions in an overcrowded content market.

time to read

1 mins

May 18, 2026

Mint Hyderabad

IRFC plans to secure ₹28K cr via ECBs: CMD

Indian Railway Finance Corp. (IRFC) plans to raise ₹24,000-28,000 crore (less than $3 billion) through external commercial borrowings in what would be one of the largest overseas borrowing programmes by a state-run firm in recent years, chairman and managing director Manoj Kumar Dubey said, even as the financial markets remain rattled by the war in West Asia.

time to read

1 min

May 18, 2026

Mint Hyderabad

Mint Hyderabad

India races to build long-duration energy storage

green power penetration,” another official said, adding that long-duration storage is critical for optimal integration of renewable energy, “thereby achieving energy transition in the true sense”.

time to read

1 mins

May 18, 2026

Mint Hyderabad

Mint Hyderabad

Banks dip into surplus funds, short-term borrowings to bridge credit-deposit gap

Public sector banks (PSBs) are increasingly using surplus liquidity available with them and borrowing short-term funds from the Reserve Bank of India (RBI) to support loan growth, as deposits lag credit demand.

time to read

2 mins

May 18, 2026

Mint Hyderabad

Mint Hyderabad

Govt plans clean-up of toxic chemicals in drug making

Pharmacopoeia commission crafts new standards incorporating green chemistry principles

time to read

2 mins

May 18, 2026

Mint Hyderabad

Mint Hyderabad

Coal makes a comeback, fueled by war in the Middle East

Coal is making a comeback.

time to read

4 mins

May 18, 2026

Mint Hyderabad

Tata Cliq leans on luxury brands to stand out in e-commerce race

Tata Cliq, the Tata Group’s flagship e-commerce platform, is sharpening its focus on premium brands, luxury shopping, and franchising marquee international brands in India, as the country’s online retail business expands rapidly.

time to read

1 mins

May 18, 2026

Mint Hyderabad

Build social capital to resolve the gold dilemma that India is facing

People buy gold as they lack trust in institutions and efforts to wean them away must address this

time to read

3 mins

May 18, 2026

Mint Hyderabad

Paradox of thrift

Is Keynesian advice relevant to India’s economy? Austerity, Keynes warned, could worsen an economic slump.

time to read

1 min

May 18, 2026

Listen

Translate

Share

-
+

Change font size