Now I am wondering if it's worth spending 14750 joining fee and renewal fee every year. (compensated by 12500 points worth Rs.9500, as I will explain below)--
The best use of all Infinia points is to buy air tickets on Smartbuy.
But I get 24% discount on all International and domestic air tickets on Traveledge using lifetime free Magnus Burgundy.
Hence the point value should be 76 paisa and not 1 rupee
So 12500 joining bonus and renewal bonus points should be discounted by 24%, so worth Rs. 9500.
That would imply an expense of 14750 - 9500 = 5250 every year after deducting the point value in rupees.
Disclaimer the above analysis and calculation is valid only for those who have a lifetime free Magnus Burgundy.