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- Originally Posted by sonalsriDear Friends,
I am very new to this forum and this is my first post. We bought a 3 BHK with Terrace(about 20x10) in Nagpur in 2005 and got the possession in 2007.
I keep hearing that the equity has substantially gone up but do not know how much as I am hearing different from various sources.
----- You got possession in 2007 and you can expect profit of 5-8 lakh if you are able to find a buyer. Many good buildings are completed in good areas of Nagpur but no buyers.
What do you feel about the property prices in Pratapnagar(Mate chowk) area /sqft?
--------- No fixed price at this time. The rate you get is the correct rate. If I am saying my Flat rate is 4000RS Sq feet but nobody to buy it then I am wrong. If I get offer from 2-3 parties 3000 to 3200 then price is 3000 to 3200. sometime Agents give to opinion that price will be 3200SQ feet but you don't get any buyer . it means price is not 3200 Rs sq feet.
Do you think MIHAN project will soon start up?
-----At this time MIHAN is Flop.
I am looking to sell out the property sometimes this year, do you think I should wait and watch MIHAN realizes?
-------------------------------- New CM is trying to help MIHAN .Few companies may start work . TCS is saying for last 6 years "we will start operations by Next March" but nothing has happened till date. Don't depend on MIHAN. if you are going to live then keep it. if you are not going to live in that flat try to sell it. Many who invested in Plots/Land on Wardha Road in 2007 for the rate of 300 to 400 Rs Sq feet are not able to sell for the same rate of Rs 400 they are unable to recover the cost. No buyers at this time . But if you ask rate of plot in new layout developers will ask 500 to 700 Rs Sq feet in JAMTHA, DONGERGAON or near new VCA but finally will be ready to sell for very less.
SOrry for tonnes of questions, please advice.
Your help is greatly appreciated.