S.Nirmala

I have a half ground land in Thirumullavoyal on a 20 feet road. I checked with Avadi municipality and CMDA if I can construct a G+2 building and they said it is a violation. A G+1 approval can only be given. So alternatively, I am thinking to sell off this land and try to get a bigger land between 1800 to 2000 sqft. My intention is build one portion for my family's use and have 3 portions for rental in a G+1. The land that I have is in a decent and calm area and the rate is 15 lacs. However I will only be to build one portion for rental. This is for our retirement. My question is, should I sell land and then look for another bigger land. I can top up maybe another 5lacs. My concern is whether I can find a good residential land within my budget and will I be able to sell this land fast. Also should I invest in rental as my retirement plan. I am very confused and please advise.

ks2071746

Dear friend,

Investing in building for rental is not a bad idea. But this is not the right time either to sell or buy. Please wait for a few more months. After all you have your own land and constructing the building for own use and for rental with fast escalating cost is no more there. The materials and over all construction cost has come down very much. Better wait for atleast another 6 to 12 months.

ks2071746