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Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

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Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

Last updated: October 21 2015
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  • #21

    #21

    Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

    Well I would say.. why do you want to look at correction.. Even if there is no real correction.. there might not be any real appreciation..

    If you look at returns.. we all know that rental returns are pretty poor in RE.. so it has to be a combination of rental + capital appreciation.. If any one suffers you are left with negative returns..

    Chembur is a good place to invest.. connected to South Mumbai as well as Navi Mumbai.. and is in Mumbai..



    Originally posted by dprc16 View Post
    Thanks gaurang..well I know prices are over hyped but do you really see a correction happening in the near future?
    Pune was another place that I was considering but I have zilch knowledge about that city. I'll find out about Chembur, I guess it's a matter of looking around and seeing where can I get the best deal.

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    • #22

      #22

      Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

      Originally posted by Sharpj View Post
      Well I would say.. why do you want to look at correction.. Even if there is no real correction.. there might not be any real appreciation..

      If you look at returns.. we all know that rental returns are pretty poor in RE.. so it has to be a combination of rental + capital appreciation.. If any one suffers you are left with negative returns..

      Chembur is a good place to invest.. connected to South Mumbai as well as Navi Mumbai.. and is in Mumbai..
      Hi sharpj well if you know of any good projects in chembur id really appreciate it.

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      • #23

        #23

        Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

        Originally posted by dprc16 View Post
        Well Sunilr everyone seems to be saying that Navi Mumbai is overhyped, but then again these are the same people who are looking at investing there and selling it off once it appreciates. In my perspective, as Mumbai gets more and more populated people will shift that side and the increase in demand may appreciate prices in the long run.
        I am not a fan of real estate in Mumbai, but I submit to the fact that it is not that bad either. I would personally go for a resale flat over a new construction in a prime place like Andheri (where most of the price is for the land). Per my knowledge, resale are 20 to 30% lower than new construction and reflect more realistic prices. Builder lobby in Mumbai is very strong and will take time for them to reflect the reality in their new construction prices.

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        • #24

          #24

          Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

          Originally posted by sameer318 View Post
          I am not a fan of real estate in Mumbai, but I submit to the fact that it is not that bad either. I would personally go for a resale flat over a new construction in a prime place like Andheri (where most of the price is for the land). Per my knowledge, resale are 20 to 30% lower than new construction and reflect more realistic prices. Builder lobby in Mumbai is very strong and will take time for them to reflect the reality in their new construction prices.
          Hi Sameer,

          Resale prices are lower than new construction in Mumbai? I suppose you meant it the other way round?

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          • #25

            #25

            Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

            Originally posted by dprc16 View Post
            Hi Sameer,

            Resale prices are lower than new construction in Mumbai? I suppose you meant it the other way round?
            Hey Dprc, nope I actually meant resale flat are a better bet than newly constructed (ready-to-move and not under construction) flats. Yes, the new flats should have a premium but it does not justify a premium of 20% to 30% psf especially in places like Andheri, Parle where the price you pay is for the land rather than the structure over it. Remember, even if resale flats are "old" they have a potential for redevelopment, less maintenance and less chances of illegal papers etc. I am too debating with myself whether to go for a resale (older) or with a long dated new construction (yes it is risky but if I get a good price for the calculated risk I will take)

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            • #26

              #26

              Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

              There are some threads on Godrej , RNA... You might get some deals in Tilak Nagar... but there r too many issues there.. cash.. chotta rajan affiliations.. There was a Mayfair property there check it out..

              Chedda nagar can be a gold mine if the salt pan issue gets resolved.. but that might take 100 years.. if you are of the types


              Originally posted by dprc16 View Post
              Hi sharpj well if you know of any good projects in chembur id really appreciate it.
              Last edited October 21 2015, 12:49 PM. Reason: Text formatting.

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              • #27

                #27

                Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

                Originally posted by sameer318 View Post
                Hey Dprc, nope I actually meant resale flat are a better bet than newly constructed (ready-to-move and not under construction) flats. Yes, the new flats should have a premium but it does not justify a premium of 20% to 30% psf especially in places like Andheri, Parle where the price you pay is for the land rather than the structure over it. Remember, even if resale flats are "old" they have a potential for redevelopment, less maintenance and less chances of illegal papers etc. I am too debating with myself whether to go for a resale (older) or with a long dated new construction (yes it is risky but if I get a good price for the calculated risk I will take)
                Hi sameer318 do let me know if you find anything interesting. Im still searching and havent found a worthwhile project or property so far. These builders are big cheats and real estate prices are over the roof to be honest. My relatives have suggested looking around pune which has experienced high growth too.

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                • #28

                  #28

                  Re : Buying a Flat in Andheri Vs. Investing in Navi Mumbai - Suggestions Required

                  I am lookn for flat in andheri for 2BHK/3BHK 80 lacs- 1Cr. plz can sm1 guide me anywhere in andheri west? DN Nagar area.

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