Hello I am an NRI planning to invest somewhere along the western suburb (Bandra to Borivali) for capital appreciation. I am looking for a studio or 1 bedroom in good location with possible rental potential. Budget about 40L down payment (and rest on loan if needed)

Questions
1. What are some of the specific areas / builders I should focus on?
2. Where do I find the list of New developments coming up in the area? Is it easier to work directly with the developers?
3. Any recommendations on good agents covering that area?
4. What is the loan process for NRI? What % of home value does one generally get on loan?

Thanks a lot for all responses in advance
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  • Hi javapro,
    r u looking for under construction or ready to occupy flat? I am also an nri on the lookout for a 2bhk flat from goregaon to borivali. Have heard from couple of friends that next 3-6months would be the best time to snap a deal. Hence, keeping fingers crossed and waiting for the right oppr.
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  • With due respect to my fellow NRI's ( I am an ex NRI ) the best place to invest is to buy land and if possible agricultural land or commercial real estate. India is growing and growing rapidly needs the above. Whilst there is a potential appreciation in the real estate area the price increases are just not unsustainable and at some point supply will need to keep up with demand. Prices are a premium and you pay in Mumbai for a 5 BHK in Sydney minus the flooding, travel and all the tamasha of Mumbai life. Thus while the common man gravitates to "real estate" the next frontier is agriculture land or production of agri goods. Again an NRI status restricts you buying agricultural land so ..
    All the best !!
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  • With all due respects .. NRIs yearn to own a place in the homeland .. but since you are looking to just "invest" and have spare cash .. why don't you look around where you are currently .. atleast u won't pay a king's ransom for a rathole plus get commensurate rental returns ..
    All this talk about India becoming the next economic super power et al is great feel good .. but the way real estate in India is priced .. one would think we are already an economic superpower .. however, our average incomes and infrastructure is nowhere near .. expectations of considerable appreciation are basically rumours floated by builders, bankers and brokers .. I am an ex-NRI myself .. for the last 4 years .. I hav ebeen unable to afford a place in Mumbai .. imagine the fate of those lakhs of people who travel in local trains..

    Originally Posted by Javapro13
    Hello I am an NRI planning to invest somewhere along the western suburb (Bandra to Borivali) for capital appreciation. I am looking for a studio or 1 bedroom in good location with possible rental potential. Budget about 40L down payment (and rest on loan if needed)

    Questions
    1. What are some of the specific areas / builders I should focus on?
    2. Where do I find the list of New developments coming up in the area? Is it easier to work directly with the developers?
    3. Any recommendations on good agents covering that area?
    4. What is the loan process for NRI? What % of home value does one generally get on loan?

    Thanks a lot for all responses in advance
    CommentQuote
  • Originally Posted by Kimmig
    .. however, our average incomes and infrastructure is nowhere near ..

    Do you also mean the 30 million NRIs who add to our woes??

    If residents can't buy, each NRI will buy two pieces.

    Imported inflation:bab (38):

    Also price is a function of deman/supply, had there been no buyers, builders would not have been able to sustain the 12-20% interest they pay on their debt. White/Black money, Resident/non-resident indian, End-user/Investor someone must be buying for prices to say put.
    In case of Mumbai it is basically a supply crunch.

    Some analyst number crunching on mumbai residential market:
    Knight Frank

    Also while sensseexx has risen 7 fold since 2003, property has only risen 4 fold?
    Absurd things do happen, this is part & parcel of globalisation.

    Back to Java/Indonesia, first think of the exact money u wanna gamble and then look for the table (read builder/locality/agent).
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  • The return in India is much greater than what you get in perhaps Sydney. The prices double every 7 years or so followed by a bust but in India this is more like 2-3 years if you invested in a decent location. I must admit the rental yield overseas is a lot more better.

    Supply Crunch in India and Mumbai is and will be a permanent phenomena, I mean people are already buying in Panvel and Virar and the prices paid are just ridiculous.

    More land will need to be de-zoned from Agricultural Land to Non Agricultural Land and perhaps therein lies your biggest opportunity.
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