What is more beneficial? My requirement is NOT to stay there, but to resell it at a higher value. Advise please!
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  • This thread gives good insight of someone who sold his two ground plot in Thoraipakkam and invested in an apartment in Virugambakkam:

    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/56958-thoraipakkam-vs-virugambakkam-chennai?t=58450

    Was it a good or bad decision? Which would have yielded better return in future?
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  • I think that particular thread is a unique situation. There aren't many people with expensive piece of parcel looking to buy flat in the city. Most people do not buy land in a populated area, they all look at faraway places.

    Coming to the guy's decision. I say it is hard to compare - Apples to Oranges.
    If he builds a 2600sqft house in his land for 60L or so, then it might be possible to an extent. Got to take the value of living in a own house vs living in a rented house with barren land having high encroachment risks.

    My advice for people to be careful when buying in a layouts with lot of NRI buyers or investors in unpopulated faraway places. Nobody is going to build, higher encroachment risks, etc.

    Various other factors to consider.

    Interest rates are sky high. Cost of holding shot up.
    Market has slowed. It looks bleak for next couple of years.
    Doubling in 2-3 years close to impossible.
    More illquid, hard to sell.
    Rental market has also weakened.
    Construction costs are sky high.
    Hight Stamp Duty.
    Brokers issue, Double docs, etc.
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  • Originally Posted by k11
    I think that particular thread is a unique situation. There aren't many people with expensive piece of parcel looking to buy flat in the city. Most people do not buy land in a populated area, they all look at faraway places.

    Coming to the guy's decision. I say it is hard to compare - Apples to Oranges.
    If he builds a 2600sqft house in his land for 60L or so, then it might be possible to an extent. Got to take the value of living in a own house vs living in a rented house with barren land having high encroachment risks.

    My advice for people to be careful when buying in a layouts with lot of NRI buyers or investors in unpopulated faraway places. Nobody is going to build, higher encroachment risks, etc.

    Various other factors to consider.

    Interest rates are sky high. Cost of holding shot up.
    Market has slowed. It looks bleak for next couple of years.
    Doubling in 2-3 years close to impossible.
    More illquid, hard to sell.
    Rental market has also weakened.
    Construction costs are sky high.
    Hight Stamp Duty.
    Brokers issue, Double docs, etc.


    Good point, especially the illegal encroachment part. This is what scares most people away from plots. Here is a latest thread on this:

    https://www.indianrealestateforum.com/forum/city-forums/chennai-real-estate/63437-the-dark-side-of-real-estate?t=64795
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  • Good point, especially the illegal encroachment part. This is what scares most people away from plots. Here is a latest thread on this:


    This is a well known issue discussed at length in respective threads. Absolutely, there is no point in re-hashing the issue and making a discovery in the pretext of opening a discussion based on a post makes it too contrived and apparent.

    People sell lands and buy apartments for various reasons - even those who strongly believe in land holdings do this. Plots Vs Flats discussion should deal with generic issues that are inherent to those holdings rather taking a specific instance and adding color to it, to conclude the agenda. Bringing examples of relatives and acquaintances like my uncle or grandfather did it, also do not cut and are mere anecdotal - for we do not know the specific circumstances driving or having driven the decision.
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  • Whether this trend still holds in Chennai favouring plots. First flat with line or approved plot in ourskirts waiting period of 10 to 15 years. Also what is best to go for approved low cost splits or approved mid value splits in a slightly settled outskirts. U never know which will develop fast and yield better. Values taken as 30lakhs for flat with 15 year loan 25% paid upfront or investing in plot with a budget of 8 lakhs.
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  • It depends where you are purchasing .
    In Bangalore a 50 lakh flat will give you a rent of 20-30 k but in. Delhi NCR a 50 lakh will give you mere rent of 10-15 k .

    But plot on both place will give u good appreciation and you don't need to care for maiantaince also .

    But in flat you have to again invest a major portion of rent into maintenance like painting etc
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