gaub123

I already have a 2 BHK in Koperkhairane Sec 11 and wish to invest in another flat, of which the EMI (of new flat) should be between 10K – 15 K per month.

I had started with a consideration that I will invest in a flat only to be sold after 4-5 years or given on rent but as I moved along I added another consideration to it which is - if at all I wish in next 2-3 years I should be able to move into that flat.

Problem
For past 2 months I have scouted areas like Nerul, Kharghar, Panvel and Ghansoli but all of them are selling 2 BHK flats ranging from 40 lac – 1 Cr, which is way beyond my budget since this is my second investment. Now I am left with no option other that looking for something which is cheap and is ONLY for INVESTMENT. I had visited Casabella but feel its not worthy of its HIGH price (actually its quite high than projected)

Question
I happen to visit New Panvel (Panvel – Matheran road) and found “Omkar Grah Sankool” selling its 2 BHK flat at 10 Lac and 15 lac. On the face of it everything looks well in budget and quite fascinating but the questions are :-

• Is it a good bet and the place will come up nicely in next 3-4 years?
• Does the builder have a repute and will be able to finish off things in 18 months (as suggested)
• Is there a decent appreciation at that place?
• Since I will not be moving in that flat (even after 2 years) will it fetch decent rent?

I will be obliged if you guys can help me in deciding.

Alpha1971

I undesrstsnd the area in not under Municipal Corporation.
Appreciaition is highly subjective.
Property may not fetch good rent.