Is it worth to invest Rs 1.25c to buy a flat in Chennai city (in some particular locations it's not less than 2c)? Even if I want to buy little bit outside of city it comes to 1c. Too crazy, I thought only Bangalore is the costly place in South India. As NRI, would bank offer loan for this huge amount?
Thanks.
Please advice
Please advice
rome99;352015Thanks for the reply. If I invest 1c to buy a flat later is it that easy to sell it? What about the re-sale value? I heard most of the builders building flats without any quality. I'm really confused to take a decision.
I too had the same feeling when I heard of flats selling at 50 lacs+. But, after reaching Chennai, I am even more surprised to see the prices here. For example, I regularly see advertisements for flats at around 3 crores+. If you have doubts, please search some real estate web sites. There are even flats advertised at 7c.
But, don't ask me who is buying all these flats. My head spins.
As far as the builder's quality is concerned, go for reputed builders who would go all the way to ensure that their name is not tarnished. You have to trust the builder if you want to invest in a flat. If you don't trust them, then you need to buy a plot and construct on your own.
I am not trying to convince you. But, take a decision after considering the area, the builder's reputation, the details of the project and of course, your own comfort zone. Wish you all the best.
Please advice
Could not stop myself from replying.
RE builders 90% fo them are cheats. With Banks not providing loan to them typically 100% of time they will delay. Unless they get enough people to buy they will not start or complete construction, even the big guys like HIRANANDANI.
First is fix a place/area where you want to buy, look for developres in that area. Sometimes even if you have to go little far to deal with a good company its worth it.
Several issues with small time builders (Jains, Land marvel and many more)
1) gauranteed delay
2) no cust service
3) undivided land not given properly
4) common area, facilities not developed as promised. Cost included for cust
5) modify frontal area for commercial / shops. This is a big pain for people living inside, your parking will be taken away, entrance area will be used by the shops. Too many hindrance.
If you flexifibility go for the corporate house builders like Mahindra, tata, L&T, even Akshya has fairly good reputation.
RE builders 90% fo them are cheats. With Banks not providing loan to them typically 100% of time they will delay. Unless they get enough people to buy they will not start or complete construction, even the big guys like HIRANANDANI.
First is fix a place/area where you want to buy, look for developres in that area. Sometimes even if you have to go little far to deal with a good company its worth it.
Several issues with small time builders (Jains, Land marvel and many more)
1) gauranteed delay
2) no cust service
3) undivided land not given properly
4) common area, facilities not developed as promised. Cost included for cust
5) modify frontal area for commercial / shops. This is a big pain for people living inside, your parking will be taken away, entrance area will be used by the shops. Too many hindrance.
If you flexifibility go for the corporate house builders like Mahindra, tata, L&T, even Akshya has fairly good reputation.