Ulwe, Kharghar and Thane will give good returns
Answers for queries on Home Buying, 2nd Homes and Property Investments
I know a person who wants to sell a 490 sq ft (carpet) house in Mulund in a 26 year old building for 65 lacs. Will it be advisable to invest in such a property?
The answer will depend on the physical condition of the building, the willingness of banks to lend for a flat in such a building and its redevelopment potential in future. Prima facie the rate quoted is that of new buildings in the Mulund area , however you have not mentioned the exact location in Mulund , hence it will be difficult to comment on the price.
I've checked certain lands at Murbad for investment purpose. Can you please suggest what would be a fair value in terms of per sq ft currently in that area? Also from a 3 year perspective what is the minimum appreciation I can look at?
Its not clear from the question if you are investing in agricultural land, N.A. Land or plots in schemes. As regards raw land, prices range from Rs. 6 lakhs to Rs.70 lakhs per acre at Murbad depending on the exact location of the land and distance from the State Highway. Developed Plots in projects range from Rs 350/- per sq.ft. onwards. Land usually returns an annualized return of 15% - 20% p.a. over a period of time.
I have availed a Home loan of 8 Lacs from IDBI bank, my home agreement is worth Rs. 14.5 Lacs. I heard recently that the Finance ministry had announced a flat rate of interest (7.50%) for people whose loan is less than 10 Lacs and Property value less than 20 Lacs. Can you guide me if that is true, what steps I need to take to avail the benefit ?
You will need to check with the Lending bank about the same. What is most important is to check if the Finance Ministry circular has prospective or retrospective effect. You can take advantage of the same only in case there is a retrospective effect for the same, or else it will be applicable only to transactions happening after the date of the circular.
I am looking for a 2BHK property with a budget of Rs. 40 lacs. I found options at Ulwe and at Kharghar sector 35 (near Taloja) and at Ghodbunder road, Thane. Please guide me which location would give best returns if I have 5 years horizon? Also please guide me on fair rate of Ghansoli area?
All the places that you have mentioned will give you good returns if your horizon is 5 years. To be specific it is necessary to consider the exact location and its advantages, the developer and the time period to completion. The rates at Ghansoli area range between Rs.5000 - 6000 per sq.ft. depending on location within Ghansoli.
Answers for queries on Home Buying, 2nd Homes and Property Investments
I know a person who wants to sell a 490 sq ft (carpet) house in Mulund in a 26 year old building for 65 lacs. Will it be advisable to invest in such a property?
The answer will depend on the physical condition of the building, the willingness of banks to lend for a flat in such a building and its redevelopment potential in future. Prima facie the rate quoted is that of new buildings in the Mulund area , however you have not mentioned the exact location in Mulund , hence it will be difficult to comment on the price.
I've checked certain lands at Murbad for investment purpose. Can you please suggest what would be a fair value in terms of per sq ft currently in that area? Also from a 3 year perspective what is the minimum appreciation I can look at?
Its not clear from the question if you are investing in agricultural land, N.A. Land or plots in schemes. As regards raw land, prices range from Rs. 6 lakhs to Rs.70 lakhs per acre at Murbad depending on the exact location of the land and distance from the State Highway. Developed Plots in projects range from Rs 350/- per sq.ft. onwards. Land usually returns an annualized return of 15% - 20% p.a. over a period of time.
I have availed a Home loan of 8 Lacs from IDBI bank, my home agreement is worth Rs. 14.5 Lacs. I heard recently that the Finance ministry had announced a flat rate of interest (7.50%) for people whose loan is less than 10 Lacs and Property value less than 20 Lacs. Can you guide me if that is true, what steps I need to take to avail the benefit ?
You will need to check with the Lending bank about the same. What is most important is to check if the Finance Ministry circular has prospective or retrospective effect. You can take advantage of the same only in case there is a retrospective effect for the same, or else it will be applicable only to transactions happening after the date of the circular.
I am looking for a 2BHK property with a budget of Rs. 40 lacs. I found options at Ulwe and at Kharghar sector 35 (near Taloja) and at Ghodbunder road, Thane. Please guide me which location would give best returns if I have 5 years horizon? Also please guide me on fair rate of Ghansoli area?
All the places that you have mentioned will give you good returns if your horizon is 5 years. To be specific it is necessary to consider the exact location and its advantages, the developer and the time period to completion. The rates at Ghansoli area range between Rs.5000 - 6000 per sq.ft. depending on location within Ghansoli.
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