Originally Posted by gharondabhai

1. You need to do your LEG WORK

Originally Posted by AnkurPune

Great post Gharondabhai. I had a lot of fun (and learning) reading it. Completely agree with your point that Leg work is needed in India. The prices shown on sites in India are mostly inaccurate and you have to go down to the area to find out the real prices.

And people who judge the appreciation of their properties by how much the builder has advertised the new scheme / building for, are really shocked when they find out the actual resale value of their own plots.

e.g. Close to Chandigarh in a place called Mullanpur, lots of developers have launched various plots / flats schemes. One of which is Omaxe who have sold plots in various phases. Their phase 1 plots which were booked quite a few years back are near completion and people paid something close to 15 - 16K per sq yard for those at that time. Omaxe recently sold Phase 3 plots which will have possession probably 2014 - 15 if everything stays fine. These were sold for 25500 + other charges which works out to about 27K per sq yard.

On paper it sounds like a great deal and people who booked in Omaxe phase 1 would be thinking of 60-70% returns (15K to 25K). However one 500 sq yard plot in phase 1 recently was sold for 18.5K which is the close to the actual price you can get nowadays. I am not sure if this would give them any returns if they consider the interest the have paid.

Originally Posted by Delhi Guy

Ankurje i have read your chandigarh thread, was also looking for a plot in Mullapur. But after reading the thread got confused. Chandigarh market is not even 5% of the NCR market. But Mullapur proximity to Chandigarh cannot be denied. Want your advise, as what Dad missed 20 years back i dont want to repeat the same.Is this the right time to enter Mullapur market and at what rate and which builder one should chose. Kindly reply

Originally Posted by AnkurPune

Hi Delhi guy,

My personal opinion is that for timespan > 5 years Mullanpur would be a good investment although I suspect that it may stay stagnant for next 1/2 years. However I wouldn't go for dlf at 32.5 k per sq yard when a lot of options are available between 15k to 25k.

Altus is a good option and so is Omaxe phase 1 resale which you should get close to 20k psqyard and it is only a few months away from possession ( internal roads etc are done and can be seen)

However as Rohit warren says "never trade on free tips", I would mention "never buy property on free advice"

Stay away from skyrock offerings bookings at 8.5 k per sq yard as they are listed as fraudulent on Puda site and I personally find Manohar singh a bit shady as well.

Originally Posted by NoidaDude

truly depicts the status of IREF users... it has made me turn from a mere guest in this forum to a new member....

Originally Posted by gharondabhai

So nice to see one change ... I hope the change is for better!!

Cheers