Hi,
Yesterday I was talking with my parents and they advised me they just sold a piece of land they bought in 2004 for Rs2900 / var (locally used unit to measure land) for Rs17,700 / var in 2009.
That is growth of 6 times or compounded at 35.2%pa. And they don't live in a very big city like Mumbai, Banglore, New Delhi where growth has been even more. I have heard similar stories from friends in different parts of India but didn't take it seriously until yesterday. Makes my 6-7% compounded growth per annum look pretty average.
The Rupee has devalued in the mean time from 1 AUD = 35Rs in 2004 to 1 AUD = 42Rs in 2009.
So still after doing some rough calculations an investment of 10K in 2004 would have resulted in around 42K in 2009 after converstions.
Cheers,
Oracle.
Yesterday I was talking with my parents and they advised me they just sold a piece of land they bought in 2004 for Rs2900 / var (locally used unit to measure land) for Rs17,700 / var in 2009.
That is growth of 6 times or compounded at 35.2%pa. And they don't live in a very big city like Mumbai, Banglore, New Delhi where growth has been even more. I have heard similar stories from friends in different parts of India but didn't take it seriously until yesterday. Makes my 6-7% compounded growth per annum look pretty average.
The Rupee has devalued in the mean time from 1 AUD = 35Rs in 2004 to 1 AUD = 42Rs in 2009.
So still after doing some rough calculations an investment of 10K in 2004 would have resulted in around 42K in 2009 after converstions.
Cheers,
Oracle.
