Tracking real estate is tougher due to lack of data and location issues. So I picked the village where buffaloes bathed earlier but which has turned to a boomtown now, i.e., Gurgaon, to see what the price change has been. Speaking to original inhabitants from the 1980s of what is now DLF City, I get rough rates of an investment of Rs 2 lakhs turning into Rs 2 crores over thirty-four years, or an average annual growth rate of 15 per cent. But remember, both gold and real estate have high transaction costs that equity does not have.
