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Buying villa in OMR is it even worth investing high priced villa for investment

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Buying villa in OMR is it even worth investing high priced villa for investment

Last updated: September 29 2018
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  • Buying villa in OMR is it even worth investing high priced villa for investment

    Last 2 to 3 years we dont see much apperication in chennai real estate. the price are almost stable espically flats seeing KG builder for 2699 thalmbur nest for 3800 sholinganallur

    However I see so many people are buying especially NRI 1 to 2crore villa and planning to rent out for 20 to 25k thinking that thats the best invesment and expecting the price will be double in 5 years . serisouly 1.5 crore villa for 20 k rent? even in saving account interest we get 4% that is 60k per month and use it for anything if needed cash, any time resale vila will be tough as we have the new for the same price. buying villa and keeping them locked for 2 to 3 years . had been to villa and most of the villas are locked and closed or open for rent in last few months without renters and paying 4000 to 5000 per month for maitaiance without renters. in OMR they are thousands of unsold flats in completed project and few projects are in pipeline as well. it will take another 5 to 10 years to sell everything and then only we can see any apperication. boom in 2011/2012 increased so much we are still catching up the price . medavakkam in 2012 the cost for flat is Rs 5000 and even now the price is Rs 5000 with increased cost in material.

    ofcouse if some one buying it for own use then it make sense to spend on their dream house to stay for rest of their life. I can understand

    Forum members, please share your feedback and correct me if understanding is wrong

    Thanks for your time


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