Hi Friends,

I have been looking for options in resale as well as new one in ANDHERI (W).
The difference in resale and newly constructed flat is not a lot it seems, atleast here in Andheri (W). 1 BHK is costing Rs. 80-90 Lakh.

I have seen 1 BHK in PEGAUS (YARi Road) (700sqft) and many resale old built up flats.

This Pegaus flat which is highrise in YARI road looks bigger (cos of the brightness) although carpet is 430 sq ft. Huge hall, small kitchen, Big looking bedroom (because of the French windows). They cost almost the same as any resale flat which I have visited in Four Bunglaws/ OSHIWARA COMPLEX/ YARI ROAD. The Carpet in these resale flats are much more but they never look big enough cause of their layout.

Am bit confused... to go with some low outgoing, not so fancy building or with the contemporary, high maintenance (sea breeze would cause damage) but posher building.

I am happy with where I live on rent and wouldn't want to move away cos of the convenience for work etc. but I quite liked the high rise for its feel, elegance and royalty, where I wouldn't mind living, but might be good idea to get rental income to pay for the bank loan for sometime. Apparently the rental income would be similar too. around 20K for Andheri(W).

Please throw some light who can guide. Also if there any other nice places which one can visit around in ANDHERI(W).

Thanks for your time.
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  • New construction is always better if getting almost the same rate. Check out 1 BHK in Tarapore Towers in Oshiwara also, has nice big flats with balconies and great location. Otherwise 1 BHKs will only be available in main Lokhandwala, and old MHADA flats in Oshiwara/4-bunglaw.
  • sensible investment.

    SH-Saxena - How expensive do you think Tarapore tower would be... any idea? I have been asked to go and look for a flat in OAKLAND park which I have heard is very posh, with amenities and parking which come along with the flat. Which is a plus but bit secluded.

    I have seen one in tarapore gardens which is about 30 year old buildings, didn't excite me much. The layout is quite boring. Although they say its 550sq ft built up and carpet is around 500sqft.

    Abhishek, thanks for your insight in the investing part of it.
    To buy a flat for investment might be easy to buy any decent flat which would be kept for rental income only but What I feel is that the money which is lying in bank is not giving me anything at the moment (dont have any FD's), therefore want to make a sensbile buy of a flat which later on if I need I would live there or buy another one by selling it, to buy a better and bigger flat for myself.

    ENTRY in buying a flat which is expensive 90lakh (assuming 20K EMI), might be easy but then EXIT may not be easy.. this is where I am not sure and herefore bit hesitant.

    Is buying a 1 bhk in Andheri worth 90Lakh sensible and safer. Or go for more developing areas like goregaon, where appreciation might be better in the time to come.

    Please drop in your thoughts of wisdom.
  • Tarapore Towers would be 15-20 yrs old probably. They have 1 BHKs in around 600 sqft size I think. Prices would be ranging around 15000/sqft. The good thing is that being old building, you get less loading & more carpet area and good location, the negative thing is obviously the old construction, no frills kind of building.
    Appreciation would be more in under-construction properties. If your reason for buying is investment, then better off to buy in underconstruction in Goregaon/Malad etc.