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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Mumbai > Buying a flat in Nahur-Near station
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Old June 16 2012, 04:53 PM   #1
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Default Buying a flat in Nahur-Near station

Hi All,

I am planning to buy a flat in Mumbai. My ofc is in Vikhroli and my wife works in BKC.

I have looked at many flat in Bhandup, kanjurmarg, vikhroli, mulund, Nahur.

I desperately seek help from the guys who know about the RE in these areas.
I am seriously thinking of buying a property in Nahur west

1> This is not for investment. I am planning to live in this flat.

2> How beneficial is buying a flat in Nahur? If I buy a flat in Nahur, what benefits can I reap from from it in the coming years?

3> I am not looking to stay in this place long term. I would offload this flat in 3 years( bcos of short term capital gain tax).

4> Nahur lords is offering me 9000psf. 1 BHK- landed cost is 70 lakhs.

5> Since i would be staying in this place- how is place in monsoons. Is there water logging, since this is a low lying area.

I am planning to buy in Lords nahur.Reason of choosing this place:

1> Close to the Nahur station

2> Relatively low proces-- property on LBS is quoting 10-11.5k psf. Lords is quoting 9k.

3> Building has OC and is giving possession in 1 month. So i can save on my rent which i am currently paying.

4> There are a lot of builders who have bought land in this area( as nahur and bhandup station is nearby). So i can expect a decent appreciation in 3 years.


Pls help me out to finalize the property.

 
Old June 18 2012, 07:04 PM   #2
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Firstly, Congratulations for finalizing the area and project which is giving posession immmediate (anything less than 3 months is immediate in RE)

Nahur is affordable location compared to Vikhroli, Bhanndup and Mulund. Many people luk at Nahur as poor cousin of Mulund - doesn't matter - as the basic infrastructure is in-place like railyway station, roads to Navi Mumbai etc etc

See if u can negotiate with builder and squeeze in some discounts like no floor rise, no charges for parking or free membeship to club etc - any rate around INR 8250 psf is very good.

Reason to buy the said property is as follows:-
01, Poor cousin of Mulund but will appreciate soon (than Mulund)
02. Basic infra is in-place - roads, market, connectivity
03. Within BMC limits
04. No project execution risk - else-where u may get good rate but there is uncertainity if the project will get completed in given time frame. I have heard that some projects on LBS in Mulund are WIP for past 7 years and they still are not sure if they will get by 2015.
05. i forsee atleast 40% appreciation in 3 yrs.

As regards water logging etc - well, Mumbai is island city so this problem wil exist anyplace u buy house in this city - with time society can work on some solution for this problem - after all it rains heavy few days of the year - not all the year round - right?

Regards
Sagar
 
Old June 19 2012, 04:59 AM   #3
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Quote:
Originally Posted by adi1804 View Post
Hi All,

I am planning to buy a flat in Mumbai. My ofc is in Vikhroli and my wife works in BKC.

I have looked at many flat in Bhandup, kanjurmarg, vikhroli, mulund, Nahur.

I desperately seek help from the guys who know about the RE in these areas.
I am seriously thinking of buying a property in Nahur west

1> This is not for investment. I am planning to live in this flat.

2> How beneficial is buying a flat in Nahur? If I buy a flat in Nahur, what benefits can I reap from from it in the coming years?

3> I am not looking to stay in this place long term. I would offload this flat in 3 years( bcos of short term capital gain tax).

4> Nahur lords is offering me 9000psf. 1 BHK- landed cost is 70 lakhs.

5> Since i would be staying in this place- how is place in monsoons. Is there water logging, since this is a low lying area.

I am planning to buy in Lords nahur.Reason of choosing this place:

1> Close to the Nahur station

2> Relatively low proces-- property on LBS is quoting 10-11.5k psf. Lords is quoting 9k.

3> Building has OC and is giving possession in 1 month. So i can save on my rent which i am currently paying.

4> There are a lot of builders who have bought land in this area( as nahur and bhandup station is nearby). So i can expect a decent appreciation in 3 years.


Pls help me out to finalize the property.
I was recently in Mumbai and stayed with my parents in Bhandup. I know Mulund, Bhandup and Kanjurmarg quite well. I like LBS marg of Mulund, Kanjurmarg and Vikhroli but not too crazy about Bhandup. Having said that I would prefer Bhandup over Nahur anytime. The reason being cost of living is preety low compared to neighboring areas. I had first hand experience of it as I would pay almost double for the same products in Powai (my residence).

There are couple of good projects going up in Bhandup and one of them is notably good called Mahavir complex. Some of my parents neighbors moved there and have nothing but good to talk about it. I recently checked with them and they are quoting $9500 sq ft (negotiable). Also check out Kukreja complex right next to it. They are adding 2 new towers and asking Rs 9000 sq ft. I do like Nirmal green in Nahur but they are quoting too high.

Goodluck
 
Old August 9 2012, 12:32 PM   #4
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Hi adi1804,

Did you finally buy a property in Lord's? I am interested in Nahur area and would like to get your opinion on projects that you have looked at.

Thanks,
NG
 
Old August 10 2012, 01:26 PM   #5
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Default Nahur

Check ou the pollution at midnight in that area before u buy. I know a lot of folks in that area who are suffering from asthma and allergies due to pollution.
 
Old August 10 2012, 01:46 PM   #6
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Every week on friday evening I pass by nahur station and I see a lot of smoke in that area, any resident can comment?
For buyer, just go there around 9 PM and have a look at that area from east side of the bridge over the railway line.
 
Old September 10 2012, 05:43 PM   #7
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Hi adi/ ng gokhlae , I visited Lords this Saturday and frankly found it to be good for the price point it is quoting. Some of the points i noted

1. It is hardly 10 min from nahur station.
2. There is seepage in many rooms on 11th and 12th floor.
3. It is next to industrial area so some pollution will be there for sure, but i don't think any industrial unit will continue in long run as most are SME .

I hold interest in booking same so if you have similar view do let me know , we can try for some group buying discount.
 
Old October 11 2012, 04:39 PM   #8
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Hi ABPant,
Did you bought house in Lords, please update. I am planning to go there.
 
Old January 29 2013, 05:09 PM   #9
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Hi - What would be the latest rate at Lords, Nahur. I am interested in a 2BHK.
 
Old January 30 2013, 11:11 AM   #10
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There was some offer by builder on last week (25 to 27 Jan), cost was around 98 lacs as builder was bearing stamp duty registration cost(5 Lacs).
I saw the project. and its worth for the money you r paying. if i could affort i had gone for it..
If u hav budget, visit the flat and book ASAP.
 
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