goodboy1258

Hello all,

This forum has been informative and has helped me in taking correct decisions. So I am here once again to post a question for the experts

I am planning to buy a flat in Somnath, Veraval Gujarat. Here are the details of the flat :

1) Located at 5 min walking distance from Somnath Shivji Temple.
2) 800 sq. ft. Carpet area.
3) Price : 7L i.e. 875/sq. ft.
4) The construction is yet to begun.
5) Builder says the flat will be for possession within 1-1.5 yrs.
6) The payment will be approximately Rs. 50K/ month.

This builder is a friend of my In-Laws. Normally he is giving out flat at Rs. 10L but he is giving at 7L to us.

My plan is to keep this flat for another 1-1.5 yrs. after construction. I have got aged parents and they are dharmik so can visit Somnath once in a while. When vacant, I plan to rent out the flat for short-term (days/weeks etc.) to people who visit Somnath Temple.

I don't think I will have problem shelling out ~7-8L for a flat.

So based on the above facts, can you please tell me if this is a good investment for next 3 yrs (1.5 for construction + 1.5 keeping for ourself) ? Do you guys think that the rate of the flats will go up. The builder is saying that I will get double my money in 2 yrs. from now. Although I can shell out 7-8L, but should I still opt for loan?

Also, I am also planning to buy a flat in Vadodara for around 20-25L. Please recommend any new good schemes, or any past experiences etc.

Thanks for all your help and having the patient to read my long post

ashishi

Everything is fine friend, but one thing is impossible. You said the construction has not yet begun and possession will be in 1.5 years. This used to happen in Satyug.
In treta it became 2 years, in dwapar it became 3 years, and now in kalyug it is atleast 4 years