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Old August 5 2010, 04:21 PM   #1
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Icon20 ready possession 2bhk around mumbai (within 30-35lac)

I am looking out for a 2bhk around mumbai (ready possession). My budget is upto 30-35 lacs. So far I have come to know about the locations - Kalyan and Khargar only (for my budget).

My office is at lower parel. But I am ready to commute upto 2 hours one way.

Any advices for the best areas and the properties there???

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Old August 5 2010, 04:40 PM   #2
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Just wait for some time.. Currently your budget is not good enough to buy anything in Mumbai. .. . stay on rent for and observe the market.. If it cracks.. buy something.. in any case it should come down.. so don't make any decision now.. It is far too over heated..


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Originally Posted by anita_P View Post
I am looking out for a 2bhk around mumbai (ready possession). My budget is upto 30-35 lacs. So far I have come to know about the locations - Kalyan and Khargar only (for my budget).

My office is at lower parel. But I am ready to commute upto 2 hours one way.

Any advices for the best areas and the properties there???
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Old August 5 2010, 04:48 PM   #3
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Neel siddhi project near kopar station (comes before dombivali)...
Thane - you'll get after suraj water park on Godhbundar road... (u'll have to hunt most probably by visiting the area to get something as near as possible...
Navi Mumbai - you can get a resale flat beyond sanpada on rail route and in koperkhairane (will be diificult to find without a broker)

if u don't mind travelling by train ... dombivali project seems the best...
if u plan to travel by car in future... try navi mumbai... GB road will be also be too far to travel by car though u can...
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Old August 5 2010, 04:52 PM   #4
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Thanks for ur reply...

I am presently staying at Goregaon (E); and paying a rent of 25k p.m. + the monthly expenses of general household bills.

This amount is pinching me too much; and lately i m thinking that instead of paying this huge amount in rent; paying the installment of your own house is a better option. And the sooner I start, the more I'll be contributing towards building my own property.

For my budget, Heart of the Mumbai is not an option for me; so I am looking out for the areas around Mumbai (e.g. Kalyan, Khargar in Navi Mumbai, etc.)

But are you suspecting for property rates to come down in near future (6 months or a year) ?
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Old August 5 2010, 05:01 PM   #5
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yes... these areas will suit me.

I am more interested in a new property than a resale. The thing is I am new to Mumbai (its for last 3-4 months only I am staying here).

So don't have much idea about the places around; and most importantly not sure, investment in which location will give me more appreciation in far future.

This weekend I'll try to visit the places Godhbundar Road, Dombivali...to understand these areas and the road connectivity.

Thanks for your advise though!

Quote:
Originally Posted by lmfrz View Post
Neel siddhi project near kopar station (comes before dombivali)...
Thane - you'll get after suraj water park on Godhbundar road... (u'll have to hunt most probably by visiting the area to get something as near as possible...
Navi Mumbai - you can get a resale flat beyond sanpada on rail route and in koperkhairane (will be diificult to find without a broker)

if u don't mind travelling by train ... dombivali project seems the best...
if u plan to travel by car in future... try navi mumbai... GB road will be also be too far to travel by car though u can...
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Old August 5 2010, 05:19 PM   #6
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ideally the prices should come down as it has escalated 25-40% since March 2010... the prices currently are the peak prices/near peak prices...
but u never know... though it won't rise by more than 200-300 psf in the next 6 months for sure... sorry, not for sure
welcome to mumbai!!!
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Old August 5 2010, 05:46 PM   #7
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Yeah rentals are crazy for the size of the house.. One advice.. when staying on rent in Mumbai.. stay in a older building.. and look for a biggish 1 BHK in a decent society.. they are cheaper..
Rates are unreasonably high.. it will not climb..
How do you commute? If it is by road.. look at Bhandup/ Vikroli the other side of Goregaon and your rentals will certainly come down.. if you want and are particular of 2 BHK.. and are okay with the areas..

Travel in mumbai is simply crazy..

I think rates will surely come down.. Wait till the festival season if the demand does not pick up.. It is too high to pick up.. but it will be a gradual process.. and its not like they fall overnight..
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Old August 7 2010, 07:35 PM   #8
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Godbhunder Road is very far from Lower Parel.. It will fit your budget, but will really b tough on travel.. Remember 2 hours travel on a better day can turn into a nightmare on a bad day which happens often during the monsoons..
Dombivili is by far a safer bet though I only know a lot of decent UC properties..

All the best... If you are buying go for the completed instead of UC.. and for a 30L loan EMI will be around 29K to 30K per month for the next 20 years.. Think a lot before making that commitment

All the best


Quote:
Originally Posted by anita_P View Post
yes... these areas will suit me.

I am more interested in a new property than a resale. The thing is I am new to Mumbai (its for last 3-4 months only I am staying here).

So don't have much idea about the places around; and most importantly not sure, investment in which location will give me more appreciation in far future.

This weekend I'll try to visit the places Godhbundar Road, Dombivali...to understand these areas and the road connectivity.

Thanks for your advise though!
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Old August 10 2010, 12:11 AM   #9
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Quote:
Originally Posted by anita_P View Post
I am looking out for a 2bhk around mumbai (ready possession). My budget is upto 30-35 lacs. So far I have come to know about the locations - Kalyan and Khargar only (for my budget).

My office is at lower parel. But I am ready to commute upto 2 hours one way.

Any advices for the best areas and the properties there???
Buy 1bhk in Thane or Charkop. This will give u good return in 4-5 yrs.
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Old August 10 2010, 12:20 AM   #10
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HI Anita,
I don't think the prices will really fall to the levels that you are expecting. Simply because there are many many like you who are gainfully employed so the minute there is even a 5-10% drop buyers will again flock in to take advantage of the correction and prevent further correction. If it is for your end use I recommend do not try to time the market because majority of opinions including mine are educated guesses which may or may not happen. Same time last year prices were much lower as the economy was in real shambles but now it seems difficult to see prices at those levels. Am glad you are looking at Kalyan and ghodbunder as these are the precise areas where u may get something for ur budget. Though I also feel u may want to look at the remote western railway suburbs as well in view of rail connectivity in a single train to your office. And anyday I think western railway is much more efficient than Central Railway.
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