Why Kashmir Records Low Participation In Financial Markets

On a cold morning in Srinagar's Natipora neighbourhood, 52-year-old Ghulam Nabi Wani pulls up the shutter of a two-storey building he bought more than 20 years ago.

A pharmacy opens on the ground floor. Upstairs, students file into a private coaching center.

Wani does not call himself an investor. When he bought the plot in the late 1990s, he was running a small timber business and paid less than ₹6 lakh for land that many locals thought was too far from the city to matter.

Today, real estate brokers estimate the property's value at more than ₹3 crore.

“I didn't buy it to make money,” Wani said.“I bought it because I didn't know where else to put my savings.”

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