Hello Everyone,

I am new to this Forum, however am immensely thankful for everyone to share thier knowledge and experience and helping me in making a right decision.

I intend to buy a house for investment in Thane Godbunder Road. I liked a house in Puranik. Its a Resale flat by an invester I guess. He had bought it around a year back ( got to know this as he has paid 18 month society maintainance)
He is quoting 50 L ( inclusive of car park)
He wants 15 L as black and is agreeing for a 35 L agreement.
Around 3 L will be spent on Stamp duty, Registration, Transfer fees and Brokerage

I will obviosly negotiate and intend to quote 45 L,

I belong to service group( me and wife working) and have 10 L to shell out out of my savings.
I have got sources for loans to fund the rest.

My queries:-

1) Is investment by taking home loan a wise decision? If yes what should be the extent?
2) is the Quote of 45 L reasonable? works to 4500 per sq feet.
2) Obviously this house will be rented at around 12 K per month.

Could you please guide me and advise on whether its a right decision?

Appreciate all your expert comments.
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  • hi

    first check with the quality of puranik--i heard its not good quality of construction
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  • Hi,

    The quality is fine. My query is something else.
    Can you please advise?
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  • Investment in RE at this market is not wise. What is the source of fund. Do not borrow to inest in RE unless you intend to stay there. But finally it is your call.
    Your money and your decision.


    Originally Posted by Radical
    Hi,

    The quality is fine. My query is something else.
    Can you please advise?
    CommentQuote
  • Originally Posted by Sharpj
    Investment in RE at this market is not wise. What is the source of fund. Do not borrow to inest in RE unless you intend to stay there. But finally it is your call.
    Your money and your decision.


    Source of Funds is 1/4th Savings 3/4th Home Loan.
    I do not intend to stay.

    So for pure investment purpose, whats the advise?
    CommentQuote
  • Avoid.. Don't be desperate.. keep looking you might get better deal.. Market might not crash .. but it will not go higher either..
    Watch the interest rates.. and decide on the moment.. chances are this property might still be in market..

    Originally Posted by Radical
    Source of Funds is 1/4th Savings 3/4th Home Loan.
    I do not intend to stay.

    So for pure investment purpose, whats the advise?
    CommentQuote
  • Stay away..instead you can get a good deal directly from the builder...Since it is for investment I presume you are not in a hurry to buy. Secondly avoid this seller since there is black money involved. After all why shd we as working class get involved in it at all.
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  • u r an idiot if u spend 50 lacs and also get property 15 years ols, do u think u'll even get 60 lacs for 1 BHK after 10 years? U'll probably not. Mumbai has already started using its charm. Industires are shifting away from Mumbai. No scope of appreciation any more.
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