trueone

I had purchased an apartment in Orchid Petals in 2006 as a second buyer at Rs2325/sq ft with a bank loan of 35 Lac at 12%.. I am paying an EMI of Rs 37K on this. I had got it for personal use (long term) but we are not likely to use it for next 4-5 years. The Location and Layout are nice.
In view of the inevitable price correction expected in Gurgaon, does it make sense to sell it now at the current price of 3500/sq ft, return the bank loan and look for an alternative say a year later. Will I get such a good location and layout and facilities in a reasonable or lesser price? For an apartment of 2000sq ft or more that I need, a bank loan is inevitable even later. Or should I hold onto this apartment even if I am paying hefty EMIs? Your views please to help me understand likely trends and make up my mind.

rubin

I must say you re a one Lucky fellow if you re still getting 3500 Rs per Sq Ft if you cannot hold it for real real Long Term Like Atleast 7-8 Years Then take this money and run away there are many builders which are coming up with new projects on the other side of Sohna Road with pricing As low as 2300 on papers and giving further 10 % discount which looking at markets conditions will be 20 30 % in no time The best time for Gurgaon is over in this Decade If you can really Wait till Next one which can be 2012 or 2018 then only think of holding it -- also note if this is the only property you hold where you need to stay in future then dont even bother about prices and interest rates just hold on probably give it on rent you will get 12000 15000 K as rent per month

rubin

Just to update i was surfing some real estate sites and was able to find 3300 rs per Sq ft and every one knows that these sites show inflated prices you re really getting a good deal at this point of time if its is not the only house you have including your close family sell it at once i expect 3000 rs or below prices by Feb -march , i am not really
trying to scare you but GDP growth and hyped India is a thing of past now realistic values will emerge we re saying this from last 6 months those who heard are much better of today then those who went ahead and bought or didn't sell ( now they have no one to buy at that price ) when assets rise it rises more than people imagine and when it falls it falls even harder then one imagines

Amitava

Hi

I am on keen on finalising a 1719 square foot flat in orchid petal . the agent tells me that the area has been increased to 1806 ? is that correct ? could someone pls tell me what are the rates for an 1806 sq flat in petals , especially if i take one under construction, ?

would appreciate anyone who could revert and help

thanks

nicks

yes, as per the T&C builder have increased the super area by 5%. Brokers were quoting a price of around 300rs sft for that, last time I checked it. Just check the location and approach to the society before making up ur mind for petals.

kakalipal

what should be the right pre sq ft rate of orchid petals

ash7979

2800 per sq ft...

__________________
Cheers,
-Ashish

nicks

you wont find any seller 2800 in orchid petal. Anyway, I dont like this project due to the approach and 22 towers in small area.

Tirth

I don't think you will get 3500 psq now : The price slide is 3200 now

Tirth

I think if there is a great amount of uncertainty, then you should sell this . But if you are firm that after one year you will take possession than please hold.