Its 1 km from the Main Road
2 Bedroom,1dining room,1 balcony,1 bathroom,1 kitchen,Semi Furnished.Its a small building with four flats in it.
Its 850 sq ft.
Price : 270000 lacs
Is it fine to go for it?We basically buying it to resale it later at a higher cost.Shall we get a good apprciation value for this flat considering the flat is old but is in a developed area and posh and is almost preferable by many IT ians.
Please help?I dont have much experience in this ?It wd be very helpful if you guys give some suggestions.
As you are saying its 10 years old apartment it much be in a posh area. Generally what I have seen is people like to rent in posh area rather than buying because the aim of staying in posh area would be nearer to work place and similar reasons.
And one more reason I'll say no because apartment value remains stagnate after 10 years because of depreciation in building.
Another connception is people want to stay in bigger buil-up area slightly far from the city rather than small unit in posh area. This is applicable if someone want to buy and stay in there.
So, I'll suggest not to go for it, if its only for investment.
Its always easy to rent out given the flat is located in a developed area(IT proximity). But at the same time since the flat is already 10 years old thus it'll be always difficult to sell it. And it'll be even more difficult to sell it even closer to market price.
I suggest you to look into this before buying any property...
getinvested . blog spot . in/2011/12/pointsfactorscriteria-to-be-considered.html
You can also refer...
getinvested . blog spot . in/2011/12/investment-in-sarjapur-orr-real-estate.html