India is known as the Republic of India. It is the 7th largest country in the world and the 2nd most populated country with a population of over 1 billion. India is so vast that you can travel for 6 months and only scratch the surface of this country. Whether you are looking to explore the Himalayan Mountains, the wildlife or the sanctuaries, you are bound to find that the scenery here is amazing.
Indian house prices rose rapidly over a course of 5 years. By 2002, a residential property in Mumbai cost around 85 times the average annual income. By 2006, residential properties in Mumbai cost 100 times the average annual income. Mumbai has approximately 21 million residents and is India’s financial center and is one of the most expensive cities in the world for housing.
Delhi’s and Bangalore's residential property prices rose between 26.5% and 28.8% over the course of 3 years. In 2008, there was a significant slowdown and some dramatic price declines. Bangalore’s was hit the hardest with a decline in prices of 27% in 2008. Since October 2008, the demand for luxury housing has fallen 50%, while affordable housing demand has only fallen 10%. Developers are refocusing on low-income houses, as the affordable housing market remains strong.
The average price of condominiums in New Delhi was $2,170(US) per square meter in 2009. The average price of condominiums in South Mumbai was $9,542(US) per square meter in 2009. Condominiums in Bangalore cost an average of $745(US) per square meter in 2009.
While the United States is still experiencing a recession in the job market, India's job market is on the rise. The Indian economy is projected to create 87.37 million new jobs by 2015. The most significant growth in the job market will be in the manufacturing area, which is projected to generate 32% growth. Jobs in trade will be running a close second place and coming in third is construction jobs that will generate approximately 15.13 million jobs.
Just like the United States is known for its foundational belief in Christianity, India is known for being the land of spirituality and philosophy. India's religious beliefs and practices have a major impact on the personal lives of the Indians. It is the only country in the world that has such ancient and diverse cultures. The three ancient religions are Hinduism, Buddhism and Jainism with Hinduism being the faith that is most dominant.
Domestic services are very inexpensive in India. Someone could do all of your cleaning everyday of the week and charge you no more than $100 a month. In the United States it will run you anywhere from $50 - $75 a week for the same type of services.
Healthcare is another area where you can save in India. Usually this option is used when Americans either do not have insurance or they have a procedure that is not covered by their insurance carrier. A surgery that would cost $50,000 in the United States would run approximately $4500 in India. Would there really be a need for an insurance carrier if the savings are this big?
Food is an area that you can greatly save money in when you compare it to shopping in the United States. The same products that would cost you $10 in America would only cost you $1 in India as long as it didn't have to be imported. If the food has to be imported then it can cost you up to three times more than what you would pay in the United States.
Local transportation in India is also very inexpensive when compared to America. These are just a few of the areas that you will save in but you will need the savings in these areas to pay for the schooling.
Unlike the United States, India requires you to pay for good education. There are government funded schools but an American would not want to make this a choice for their family. The public school system will range anywhere from $750 - $1750 a year, while alternative schools range anywhere from $2250 - $12,500 a year.
It all depends on what you are looking for that will determine what your best fit will be. Do you want to get out of debt or live in the land of the free? It is your choice.