Team-BHP - The Property / Real Estate Thread

Today i heard about some project where in one have to pay 10% booking amount the the property and rest in emi's starting from the time of possession on radio.

It seems a good property investment thing to me which can be planned as

Propsal
3 BR Flat - 40 Lakh
10% booking amount - 4 Lakh
Likely possession - after 3 yrs
Expected price after considering the site is on NH24 (the Hapur stretch from Delhi), Delhi metro station is planned in front of project, lots of development are going on the same highway including "Crossing Republic City", "Indrapuram 2" - Atleast 60 Lakhs

Finances
4 Lakh @ 16 % for 3 yrs - EMI around 12-13 Thousand

Profit
If one sells the Flat after possession, then too he/she can easily book a profit of 10 Lakh+ within 3-4 yrs.

What is your take on this ? Anyone invested/experienced in such schemes around or outside delhi ?

Cheers

hello guys
I would suggest that instead of investing in apartments in mumbai....should invest in agricultural lands beyond panvel,karjat,neral as big developers are buying it as well mumbai people are buying it as farmhouse thing......as the apartments give you return which would be 8% annual max...............but the prices of 1 acre (43560 sq feet ) of land is equal to the cost of car park in my bldg which cost around 9 lacs.............I have got 300% return in 9 months in some properties in karjat.
golf course coming up in karjatclap:

Hi All,

I was infact doing the reaserches for buying a second Flat as Investment. But somehow I am feared to invest at this very high costs. Most of the new construction flats are booked by the Investor lobby and hardly few by the really needy people for living. Infact I have read somewhere that the stamp duty registration nos. are dropped by 20%.

With a cluttered mindset, started looking at topics about the property / real estate growth in India since I feel the prices are almost at it's break-even.

The following articles are interesting and giving a ray of hope of some downward correction. If that happens we will get a very good chance to buy a new home at a rate which is rational.

Please read the following article.

Real Estate News Finally, home prices begin to pinch less - (Everywhere else but Mumbai) - Source ET |Mumbai Property Exchange - India's First Property Exchange|

India's housing bubble: Economic Times on the Real Estate Slowdown

If the above said goes worse, the biggest losers are the short term investor community. But on a long term it will appreciate. I hope the property prices are already reached it's end of life cycle for another turn.
Look at the way the prices have gone up in 1993 and ended 1999-2001 and got the momentum back in 2003 to till date.

I believe the property market may come down as other economic factors are not really in support with the growth as of now.

primary reasons are

The dolloar- rupee gap ( also rupee is appreciating with other currencies too) The NRI income will be poorer when converting to INR and hence a turn back in Investment
The US recession
Uneven Stock market
A very high interest rate.

Lets hope for the best in the coming days.

Quote:

Originally Posted by ashthedivx (Post 710039)

No one heard about such ad on radio ? No one even done this type of investment so far ?

Quote:

Originally Posted by Surprise (Post 700028)

If its former look at the purchasing bulk grounds after Chengulpattu or Thirutanni or deeper areas in sriperumbatur. Bonus if you could get a corner plot on a minimum 33 ft road. Look for grounds that has more frontage (can easily split and sell)

If not, you can go and purchase lands in acres@ Rs.2 or 3L per acre. You can get these sort of lands after uthiramerur or in Tindivanam (forget on main roads, you need to travel minimum of 6-10 kms inside on village roads). This case the wait is long, but worth.

For such purchase, its better to know the right people locally who can help purchasing and also maintaing post purchase. Kancheepuram and Thiruvallur seems to be hot destinations currently.

Hey guys,
Its time that I make that move that every married man do, hunt for a good home.
But after one month of looking number's of home I am very sad,Rates have climbed up like anything in borivali and thane
rates like 7700/sqft for 2BHK flat and 10000/sqft at jogeshwari-vikroli link road, Rates in thane have also climb so much that I am now looking for a rented flat in thane.
My requirement

2BHK ,area 1000 and above my buget 50 lac

can any one in mumbai help ?
uday

Hey Uday,

A few quick q's

1. Is it for personal use or for investment until you find the perfect pad to your liking.?

2. Ready possession or under construction and avlb by end 2009 is acceptable.?

3. Social commitments that will come alongside the home purchase for eg kids schooling, offices of all working inhabitants, hospital & clinics for the elderly etc

4. Is the set budget avlb in one go or is it part of your loan strategy?

5. Any personal preferences in areas ( if your aware of BBay already )

A simple filteration on answers for the above q's should give you a more apt target profile to attack and get to the correct answer.?

Ohh also, there will be certainly a pad avlb for your budget and your simple 2BH requirement in some parts of Bbay, even as i write this.

Happy Searchin'

Quote:

Originally Posted by NetfreakBombay (Post 949451)

Does Malad West work out for you? You can look at Some properties with Lawn/Club/Gym/Swimming pool.

Costs would be 5 - 6k per square foot. It might be in your budget.

Are you sure, a prop with Lawn/Club/Gym amenities would be around 6k :eek: per sq.ft.? Because a few days back i was searching in Malad, resale properties (in not so new buildings) were quoted at the rate of more than 10k per sq.ft .