I have already started the process to sell my Navi Mumbai and Malad investment flats because I believe this is the right time to sell. They were bought 5 and 4 years ago- currently on rent.

Just wondering what the knowledgeable people on this forum think about that. Please comment.
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  • If you get the buyers don't hesitate and sell.There are plenty of new investments coming up and you can get a new flat from a reputed builder.
    Only problem you may face is in finding a buyer and patience will help.
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  • It is a viscous circle.. My take is you will sell then you need to think about investing again to avoid capital gains.. Though you have 3 years to reinvest.. it is impossible to time the market.. and where will you invest again..

    Inflation is high and not wise to sit in cash..

    RE might not crash.. but it will stagnate..

    You can put it in the market and see the response.. Better to do it now then when property prices are correcting..

    Originally Posted by tanashah
    I have already started the process to sell my Navi Mumbai and Malad investment flats because I believe this is the right time to sell. They were bought 5 and 4 years ago- currently on rent.

    Just wondering what the knowledgeable people on this forum think about that. Please comment.
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  • Evaluate Your Returns

    Basically, it is an individual decision; you evaluate how much you return you expect from each of these investments as against the price you are offered on a new investment. If you find the ratio is mis-matched (going against you), do not sell it but if it is loaded in favour, please go ahead and sell it once a buyer is found. Personally, I find the prices going up after elections - if a pro-investment govt is elected. On the other hand, if a hung parliament is the result then it may stagnate further or go in the opposite direction. But as someone pointed out, any time is a good time if you can match your expectation. Remember, you have ready possession flat as against hypothetical one(in the case of under-construction properties)
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  • what do you plan to do with the money you get from sale
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  • if want to sell--think where u will invest-
    for eg-- 4 years or 5 years back u bought property 50 lakhs and now sell 1cr-what u will do with 1 cr where u will invest,is it any chances to get any property in 1cr, and u think its potentail to grow,from 1cr-to more-

    if u think from 1cr it will grow more than why not from 50 lakhs u will get more % of returns.

    if planning withdraw from property to somewhere else its different.

    what i feal real estate is better to keep minimum 10 yrs to get good % of profit
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  • Thankssss

    Hello friends...

    Thanks for all your responses so far...
    I am a all white seller because it is all my sweat earned money and don't want to convert it to black.
    So far have already found several all white buyers for Navi Mumbai flat (sub 1 Cr one)...
    Many buyers for Malad...nobody ready to give all white so far...inspite of 5% discount...

    Have found a super opportunity to invest...so exiting real estate...

    thanks.
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  • Nonsense !

    Nobody buys all white real estate in India. This is nonsense !
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  • Originally Posted by neil_base
    Nobody buys all white real estate in India. This is nonsense !

    Not everybody is dishonest, i have bought in white and so have many others in this forum.
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  • Originally Posted by tanashah

    Have found a super opportunity to invest...so exiting real estate...

    thanks.


    be carefull, these super opportunity do at times create super problems. Think before you exist RE as its said, never put all your eggs in the same baskets, unless you have a poultry farm ;) . Just a friendly advice.
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  • Originally Posted by neil_base
    Nobody buys all white real estate in India. This is nonsense !

    Neil - Thank you for your post.

    After being a silent spectator for more than a year, it was your post the actually compelled/inspired me to register myself so that I could respond to your note.

    The primary reason why the real estate market is stagnant in Mumbai (& areas around) is mainly because there is a request from builders/investors for black money. Unfortunately, majority of salaried professionals who are the end-users would not mind the prices being high & are willing to take bigger loans but do have a problem with the black component as we never had any source for this kind of money.

    All the income WE (individuals earning salaried & doing white collared jobs) ever had was white and we have paid tax on every bit of it. Neither do we encourage paying money in black (nor do we have any) nor do we accept any amount in black while exiting the property in lieu of a new one.

    Investors & Builders are in a catch 22 situation where neither can they sell the flats with huge black components (as end users do not have the cash lying in closets) nor can they take a hit by selling in loss.


    We already are in a situation where supply is getting bigger than demand for the real buyers, it's just out of a common man's reach.
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  • sold one..one more to go

    Originally Posted by neil_base
    Nobody buys all white real estate in India. This is nonsense !

    Neil,

    I understand that your statement is largely true but it is not 100% true.

    This week, I completed the all white sale of my Navi Mumbai flat and have deposited the cheques in the bank. And I intend to pay the correct capital gains tax on it.

    My Malad flat is in final negotiations and a person is ready to buy it - all white - if I give him little more concession- I offered 5%, he wants 9% and I have given a counter offer of 6.5%..we should be able to agree this week... I also have another -again all white - offer that came in on the weekend for the same Malad flat...

    So the reality is there are all white buyers and sellers- at least in Mumbai - but as your statement indicates- they are a small fraction of the total.

    thanks all and god bless
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  • I have had discussions with many developers. None of the decent developers will insist on black money. They will give you the option but none of them insist on it!

    The dubious developers do insist on it!

    Cash component is higher in resale generally... that is my experience.
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  • @tanashah, came across your post here.. I am looking for investment in Malad area.. all white.. pls email me we can discuss the details on phone.. thanks! Akshay
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  • Originally Posted by neil_base
    Nobody buys all white real estate in India. This is nonsense !

    Oh is it .. Go get your facts right then ...
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