Buying a house in India, just as a second home? - Indian Real Estate Forum

suruchi · 16-10-06

Buying a house in India, just as a second home?

NRI or Non-resident Indians have significance contributions to make in the economy of India. It is a known fact that in spite of living thousands of miles away from their homeland they have always remained connected to their roots. The liberalization of Indian economy and the recent growth in the real estate market in India has opened up the doors for NRIs to make profitable investment in India.

vardaan · 16-10-06

I’m highly elated at the prospects of real estate in India.

But, I want to play the safe game… I hope it’s not a bubble that would burst with time.

16-10-06

You seem to more confused

than concerned, my friend!

If you can feel the boom in Indian realty from thousands of miles, I would say the situation here is maddening. The skylines of the cities are changing irrespective of their size and location.….

The quality of construction offered by the developers now are becoming better & better as the competition to provide the best and survive in the booming market has become more anticipated.

And the winner in this war of survival……, of course, the buyers.

varun · 16-10-06

That was a brilliant piece of visualization…..

Heard that small unknown cities like Ghaziabad have become the most sought after cities? 5 years back when I left India, they were nowhere on the real estate map of India.

varun · 16-10-06

Yep. Read it somewhere…. I do not remember exactly….

It was something like; Ghaziabad, India is amongst the 10 hottest cities in the world.

mohan · 16-10-06

Wow! That’s great!

I’m from Durban and my hometown is in Ghaziabad (and feeling proud to be so!). But can’t believe. Ghaziabad… & among 10 hottest cities in the world.

Can anybody give me the news details……

16-10-06

Congrats buddy! You must be proud to have that tag attached to you now. Well, this is the news for you and many other Ghaziabad NRIs alike.

Quote:

GHAZIABAD – ONE OF THE 10 MOST DYNAMIC CITIES IN THE WORLD

In old Ghaziabad—20 kilometers outside New Delhi in the north Indian state of Uttar Pradesh—ancient green-and-white three-wheeled Tempos that double as buses career alongside a tangle of bicycle rickshaws, buffalo-drawn wagons and pushcarts. Tiny, no-name manufacturers advertise rubber gaskets, gears, machine tools. You'd never guess Ghaziabad is India's hottest city.

But thanks to skyrocketing real-estate prices in the capital, Ghaziabad is emerging as the next popular address for Delhi-bound commuters. In residential pockets on the outskirts like Indirapuram, posh new developments are sold out. The largest developer, Shipra Estate Ltd., has built 7,000 two-, three- and four-bedroom flats, all of which are already occupied, says Vijay Sundar Raj, manager of sales and marketing. Many of the residents commute to IT jobs in neighboring Noida and Delhi.

Strategically located on the old Grand Trunk Road from Bangladesh to Afghanistan, Ghaziabad was targeted by the state for industrial development in the 1980s. Today the city is home to more than 14,000 small-scale industrial units and larger plants run by giants like Coca-Cola and the International Tobacco Co., which still provide most of the jobs in Ghaziabad proper. For all the new luxury high rises, Ghaziabad today is one of the most heavily industrialized cities in Uttar Pradesh.

With its excellent highway connections to Noida and Delhi, Ghaziabad is starting to reap the benefits. Though it still doesn't have the cachet of Noida, it boasts cheaper land, and the completion this summer of the controversial Tehri Dam should help prevent frequent water and electricity shortages. None too soon. The city is already building a village to host the 2010 Commonwealth Games. And plans for both a new expressway and a second Delhi international airport on the east side of the capital should help put the entire region, Ghaziabad included, on the global map.

Source: Newsweek

mohan · 16-10-06

Thanks mate……you made my day.

I feel like investing in Ghaziabad…. Maybe next time when I visit home….

rakesh · 16-10-06

But I am a bit apprehensive about the assessment of the news.

Does Ghaziabad have more potential than cities like Bangalore and Hyderabad? As IT hotspots of India and the government of India’s initiative in IT and ITES sector, marked realty investments is said to have come up in cities like Bangalore.

However, they figure nowhere in the said report. Don't you think the ground real(i)ty is different from projected reports?

Though my intention is not to justify the credentials of the report, but it surely need to be discussed.....

rajbeer · 16-10-06

I just sold out my property at ghaziabad and moved to gurgaon feeling the real estate boom in gurgaon and all the beautiful malls and the DLF and Unitech architechtural alacrity.... Now going throught the post made me confused about my decission....

I feel sorry why i didn't consult any real estate agent for this...

i was thinking the agent will cost me more....

16-10-06	#1
suruchi New Member Join Date: Oct 2006 Posts: 31 Thanks: 0 Thanked 1 Time in 1 Post	Buying a house in India, just as a second home? Buying a house in India, just as a second home? NRI or Non-resident Indians have significance contributions to make in the economy of India. It is a known fact that in spite of living thousands of miles away from their homeland they have always remained connected to their roots. The liberalization of Indian economy and the recent growth in the real estate market in India has opened up the doors for NRIs to make profitable investment in India.

16-10-06	#3
arvind Unregistered User Posts: n/a	Thumbs up The boom is here to stay.... You seem to more confused than concerned, my friend! If you can feel the boom in Indian realty from thousands of miles, I would say the situation here is maddening. The skylines of the cities are changing irrespective of their size and location.…. The quality of construction offered by the developers now are becoming better & better as the competition to provide the best and survive in the booming market has become more anticipated. And the winner in this war of survival……, of course, the buyers.

16-10-06	#4
varun New Member Join Date: Oct 2006 Posts: 45 Thanks: 0 Thanked 0 Times in 0 Posts	Visualization….. That was a brilliant piece of visualization….. Heard that small unknown cities like Ghaziabad have become the most sought after cities? 5 years back when I left India, they were nowhere on the real estate map of India.

16-10-06	#6
mohan New Member Join Date: Oct 2006 Posts: 25 Thanks: 0 Thanked 0 Times in 0 Posts	Great news! Wow! That’s great! I’m from Durban and my hometown is in Ghaziabad (and feeling proud to be so!). But can’t believe. Ghaziabad… & among 10 hottest cities in the world. Can anybody give me the news details……

16-10-06	#9
rakesh New Member Join Date: Oct 2006 Posts: 30 Thanks: 0 Thanked 0 Times in 0 Posts	Question A bit apprehensive But I am a bit apprehensive about the assessment of the news. Does Ghaziabad have more potential than cities like Bangalore and Hyderabad? As IT hotspots of India and the government of India’s initiative in IT and ITES sector, marked realty investments is said to have come up in cities like Bangalore. However, they figure nowhere in the said report. Don't you think the ground real(i)ty is different from projected reports? Though my intention is not to justify the credentials of the report, but it surely need to be discussed.....

16-10-06	#2
vardaan New Member Join Date: Oct 2006 Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts	I’m highly elated at the prospects of real estate in India. But, I want to play the safe game… I hope it’s not a bubble that would burst with time.

16-10-06	#8
mohan New Member Join Date: Oct 2006 Posts: 25 Thanks: 0 Thanked 0 Times in 0 Posts	Thanks mate……you made my day. I feel like investing in Ghaziabad…. Maybe next time when I visit home….

16-10-06	#10
rajbeer New Member Join Date: Oct 2006 Posts: 8 Thanks: 0 Thanked 0 Times in 0 Posts	Ghaziabad with so much potential... I just sold out my property at ghaziabad and moved to gurgaon feeling the real estate boom in gurgaon and all the beautiful malls and the DLF and Unitech architechtural alacrity.... Now going throught the post made me confused about my decission.... I feel sorry why i didn't consult any real estate agent for this... i was thinking the agent will cost me more....

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