Sanjaykhanna

I have not seen any discussion about Moradabad in the forum.

I have invested in New Moradabad (MDA plot ) in 2008 , but i dont think there is any appreciation till date , although five star hotel, Appartments are coming there but still I don't see any appreication in the plot price . When I got the allotment there were talks that the price will double in 2-3 years time frame..bla..bla...

What does fellow members think about this ? Should I quit or hold it ? I know if I hold then I have to hold it for long...

Please advice...

ThePunjabi

1. The apartments etc that you mentioned are under construction since last 6 years and the speed at which construction is hapeening, they are at least 5 years from possession. Concept of living in flats in not popular in UP (outside NCR) in general. So there are not many takers for flats there.

2. New Moradabad plots are far away from the main city. So they don't attract many people because cheap options are available in the main city itself.

3. Work on widening of NH-24 started some 10 years ago under Vajpayee government. Work was stopped for 4 years as soon as Congress came to power in 2004 and is now progressing at ultra-slow speed. It will take at least 10 more years to complete the widening of NH24, that is 150 KM from Delhi to Moradabad. Traffic jams of 10-12 hours long are common on that highway. So people from Delhi are not very interested in that place.

4. Not many outsiders will want to move to Moradabad from other parts of UP because there are not many high-paying jobs in that area (it is UP after all) and more so because it is a hot-spot for communal riots.

5. Holding a plot there is risky because things like law and order don't exist in UP (it is known as ulta pradesh for a reason). If your plot is usurped by a politician or even a muslim guy, you can pretty much forget about your plot.

People move to places where there are jobs, infrastructure and safety. Moradabad has none of these.

I visit Bareilly several times in a year because many relatives live there. Plots in that region have not given the return of even a bank FD over last 5/10/15 years. If I was in you place, I'd sell and put my money in bank FD or look for an investment in NCR.

djvjain

This is the reason I have seen in small cities that are far away from big metros. They don't have good enough well-paying jobs for people to start living in apartments or plots and thats why the area is stuck. Not only areas like Moradabad, but I have seen the same thing in Jaipur where people are kind of stuck with plots they bought a while back.
No wonder all the action is around NCR and thats why people like to invest more and will be doing so in the future too.

You can sell this plot if you are getting a buyer, otherwise look for one. You can hold on to it if you are seeing any development in that area, which I doubt would happen for next 2-3 years.

saurabh2011

Your facts are simply great. BTW I am also from Bareilly and have my parental home there, after starting job and then my business in NCR I only had visited Bareilly maximum 15 times during last 10 years but whenever I visit this city I like it very much as all of my childhood as well as my MCA completed in Bareilly.

As for Sanjaykhanna investment I don't think he will get very good return from Moradabad. It will be better to dispose off that property and invest in FD/KVP, if Sanjay further want to invest only in property then better to buy any 1000 SF 2BHK or 1250 SF 3BHK in CR , RNE GZB or any PLOT in GN (any areas of GN where metro station is proposed near by). Few areas of Delhi which are not very costly at this time but 3rd phase of Metro has been proposed to there will also get bumper appreciation in next 4 years such Delhi areas are with in 3-4 KM radius of Maujpur, Yamuna Vihar (ie North-East Delhi).

abhimanyuuahuj

Hi Sanjay,

I too got a couple calls in past 2 days on the same new moradabad govt plots....since ur holding them since 2008, thought might as well ask you abt this....can you call me or text me ur number on my cell - nine eight seven three one five three six nine four

Abhimanyuu

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bundolo

Visited Moradabad on 27.07.2011. Two of my friends had bought 90 mtr plots there 4500. There is a five star hotel (Owner Robert Vadra), many high rise apartments of builders incl Supertech (Palm Greens).

Plots are in the size of 90, 135, 165 and 200 available on resale 4000 onwards. Though I liked the place the distance (160 km from Delhi) is too much. Id rather invest in Meerut.

Thanks

deepak82_mca

Dear Sanjay, I belong to the core of Moradabad, born & brought up in Moadabad, then moved to Meerut for my graduation, then worked in Delhi/Kolkata for 6 years & now settled in England since last 3 years.

Let me tell you that it takes little while to get a good returns from a new establish colony. I am sure 80% people who invested in Greater Noida 10 years back had the same feelings like yours but now they all are playing with gold.

Before Moradabd, MDA had successfully launched various colonies in & around Moradabd like Awas Vikas, Mansarovar, Ram Ganga Vihar colonies etc & all of them are now hot spot investments of this brass, metal handicraft city.

My father recently baught 4 begha land at 5.25 Lac/Begha rate in Sept this year, out of which my father sold 1 begha land at 6.50/Begha rate in Oct i.e. next month with a profit of 1.25 Lac. PS. this property was not even located in proper MDA & was situated in a nearby village.

Some one wrote about Bareilly, I am not sure how can we say that people in bareilly not getting good returns. Not sure if you have heard about Alliance Mahanagar project in Bareilly.Ask those people who live there who bought these 2/3 BHK independent villas at 15Lac rate & now not even ready to sell them at a double price. So please keep the facts right before you write anything.

About communal riots in UP, can you give me any one place in India where you can;t expect riots, Mumbai, Kolkata, Jamia in New Delhi, Lacknow, Meerut? Just do not think about earthquakes, natural disasters & riots when you are investing in property, specially in multistorey apartments. These things can happen anywhere without any prior notification. A huge 9.0 reactor scale earthquake & all NCR investments will go boom.

I would just advise, if you have not already sold, to wait another 5 years. There is a huge number of rich people including exporters who wants to come out of the messy city & want to live a good life.

I have my plot in sec-1, bought at 9Lac last year & now I am already getting 15Lac. MDA is building shopping complax & their state of art office to attract people to start constructions on their properties, few have already started. Property price in India will only rise in any part, becoz there is a huge demand due to growing population & effects of booming economy on tier 3 cities.

Regards
Deepak.
United Kingdom
+44-7709109458

nakularora

Dear Friends

If anyone is looking to buy a multiplex plot on the NEW MORADABAD HIGHWAY or knows anyone who is interested in buying the same, or looking for collaboration for the same, please do let me know.

The plot is 7000 sq. meters , is 4 side open , corner plot and purchased directly by the MORADABAD DEVELOPMENT AUTHORITY (MDA). Please contact for further details.

Thank you.

Sanjaykhanna

Thanks Deepak for your input. I am still holding that plot ,I have not visited Moradabad in past 3 years as I am not in India. I know that area has good potential and Moradabad is full of rich people and price will definitely increase but I feel my timing was not correct. But since its not a very big amount so I am planning to hold it for next 3-4 years(hopefully it will give some return by then).

DO you have any idea about the current price of these plots ?

deepak82_mca

Hi Sanjay, 3-4 yrs sounds decent time frame, I have my own plot in sec1 & looking to hold for same time. MDA is building their state of art office, shopping complex, multiplex close to 5 star hotel Holiday Regency. Many NCR A-listed builders have setup their projects including Supertech, Gaur & Parsvnath in New Moradabad. Surprisingly, prices of Supertech palmgreen are almost same as of any project in Raj Nagar Ext Gaziabad. First phase of palmgreen has already been handed over to families & almost full with landlords & tenants. There are lots of outsiders students, professors, due to many engineering colleages like TMU, IFTM. In next 2-4 yrs there will be huge demand of property due to swelling populations. As per my understanding, as long as there is demand, I dont see any reason as why prices shouldn't increase. Rest we can just hope for good returns, lets keep fingers crossed.