Hello All,
Need your expert opinion on NBCC Vibgyor Towers, near Axis mail Action area 1. I've a 3BHK 1319 Sq ft first floor apartment, in this property.

I've been tracking prices for this since last 3-4 years and I don't see much appreciation happening. It stands flat at any point between 58-60 Lacs.
Can you guys pl tell me if it's worth holding the flat- It's on rent now. ? or I should sell it at the current price ?

Looking at tons of apartments coming up in this area, I'm skeptical if it will give me good returns in 3-4 yrs horizon term ..also not sure if it's worth waiting for Metro to come up, it may be a 5-7 yrs wait

-Thanks for your help,
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  • there are 2 scenarios:
    (1)the way money value is going down, maybe 60-70 lakhs will mean nothing tomorrow, so in that case you might get a good return
    (2)if it does not happen and if you have taken home loan while purchasing, then all these years it must be mostly interest that you are paying, so its a loss if you sell now at same price

    BTW, see the properties will be capped to that range. Why? cause India real estate is IT services driven and as long as the bill-ability is 5k $/month, India IT survives, which in turn caps the price of sell-able properties. So, I think its not wise to got for expensive ones, if you want ROI.
  • See, The way I see it , and as being somebody once considering buying in the project, I think you are better off selling the property and saving yourself from further interest payments(considering you have taken a HBL) , In any case , the prices overall of RE is quite subdued and expected to remain so/weaken in time to come , there are many factors which indicate the same , all the more in RE market of Kolkata. Also , and this is my personal view , VIBGYOR does not have a very good "name" in the resale market of New Town , which is to say that the resale demand in VIBGYOR is quite weak . Although Metro might not really be 5-6 yrs away ( I believe it should be ready by end 2018,may be earlier even , comparing the construction speed of this stretch to other 2 stuck ones is not correct, this one has hardly any disputed areas, if any, and the work currently is going on quite fast ), but it will not make a great impact on the project itself , since by that time newer , if smaller projects would have come up , closer to the metro stations.

    So in my view , specially since you obviously don't plan to stay there , Sell .