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Fractional Ownership of Property: A new investment tool for millennials
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By Varun Mohan, Founder of Definite
A majority of individuals from Gen X (born between 1965 and 1980) were from the middle class families, who had to struggle hard to make a living. They started with meeting their family responsibilities, saving for their children’s education and ended up buying a residential property to make their children live a rent-free life. However, this made them restricted to only residential markets which helped them in owning a house.
The next generation, i.e. millennials (born between 1980 and 1996) who studied well and lived in their own house, thinks of investing in real estate when they reach or cross their 30s. However, huge down payments and the hefty amount that goes into EMIs may take years of their life.
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