I am 29, married and have kid. after deducting all personal liabilities , i decided to spare Rs 2,61,000 for investment. asset allocation for my investment portfolio is such that – 19.2% in equity , 30.3 % in fixed income investment, 5.7% in metals like gold, 44.8 % in real estate. Please sugest is this right asset allocation or should i modify my portfolio ?

Your asset allocation depends on you. Your understanding of risk. Your time line.

Personally… I think half of your portfolio in real estate is nuts (scary nuts). 30% in fixed income is great if you were 50 years old. 19.2% in equity will leave a lot of growth on the table. Coming to Yahoo Answers for an "asset allocation" model….. is also very dangerous to your financial health.

Learn about "asset allocation". Make your own plan.

BTW: If inflation comes back in the next year or two…… your "fixed income" portfolio will tank.