I have a residential plot in sector 57 gurgaon. The land rates there are around Rs.50000/sq yard. Many brokers have recently approached me regarding selling this property and i must admit it is tempting. But I also feel that 50000/sq yard for any piece of land is quite cheap and that i should hold onto this in the long term instead of selling this and buying a flat for rental income.

any advice as far as the prospects of this sector go??

thanks
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  • the rates are higher than 50,000. most locations are quoting around 57-60000. depending on size. where in 56 and what size?
    hold on to it.....

    Originally Posted by rahulmathur9
    I have a residential plot in sector 57 gurgaon. The land rates there are around Rs.50000/sq yard. Many brokers have recently approached me regarding selling this property and i must admit it is tempting. But I also feel that 50000/sq yard for any piece of land is quite cheap and that i should hold onto this in the long term instead of selling this and buying a flat for rental income.

    any advice as far as the prospects of this sector go??

    thanks
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  • Originally Posted by AmitMM
    the rates are higher than 50,000. most locations are quoting around 57-60000. depending on size. where in 56 and what size?
    hold on to it.....


    i dont think prices of sector 57 huda plot can be 57-60k , thats the rates of sushant lok-3 (falling in sector 57 but private developer )
    HUDA Plot of sector 57 should be around 50k mark only !!!
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  • yeah im talkin abt sector 57 only.....is it a good long term bet? or should i sell this an invest in a different property ( most probably a 3 BHK on Golf course road)
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  • Originally Posted by rahulmathur9
    yeah im talkin abt sector 57 only.....is it a good long term bet? or should i sell this an invest in a different property ( most probably a 3 BHK on Golf course road)

    Hold your plot and u can explore the option of making guest house there which will give u good rental income. Anyway plot is always better in appreciation then apartment. But i u still want then go for good commercial. I think Ishan Sir can suggest you for good commercial
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  • Originally Posted by harpreet_sa
    Hold your plot and u can explore the option of making guest house there which will give u good rental income. Anyway plot is always better in appreciation then apartment. But i u still want then go for good commercial. I think Ishan Sir can suggest you for good commercial


    ohho harpreet saab , sir wagera chhodo yar !!! Agreed land gives better appreciation in the long run any day , but the problem is plot market is really slow right now because of the increase in circle rates which will again be revised in march/april !!!! So the plot market in gurgaon looks kind of weak for an year or two ahead . Exit option can become very difficult during this period (it already has somewhat become difficult) , and the thing with huda plots is when there is a down trend huda plots in gurgaon tend to fall like a deck of cards and are most hampered during this period !!!

    If one wants to hold onto it from a long term perspective then its ok but if one would like to sell it in an year or two , then i wouldnt suggest the waiting option !!
    would suggest switching to an appartment or plot in an upcoming part of gurgaon(like gc ex , nh-8 etc),and not golf course road as it would defnitely fetch more ROI than an appt on golf course road.
    And if commercial is an option !! study well before getting into it !!!
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  • Originally Posted by rahulmathur9
    yeah im talkin abt sector 57 only.....is it a good long term bet? or should i sell this an invest in a different property ( most probably a 3 BHK on Golf course road)

    if your plot size is big enough i mean 360 sq yd + then i would suggest to sell the plot..........get around 2 cr and buy a villa in a 225-250 sq yd plot in a township like Nirvana or Eldeco (will be aroung 2.25 to 2.6 cr) ........villa still have lots of demand and will appreciate more than........specially those in a settled township
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  • so i should hold onto this property only with a long term perspective of say more than 3years?
    Also where can the prices be in say 2-3 years?

    I personally think that the sector is very favorably located. I mean its close to GC and GC extension also i remember someone telling me that the metro is supposed to get constructed nearby.

    the plot is 263sq yards so it will fetch me around 1.3 cr.

    what options can i look for incase i decide to sell this
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  • Rahul, I would sell

    If
    1. I want to upgrade my current residence and want to utilize money for some luxury.
    2. Getting sure lucrative options(some gov. allotment etc)
    3. If I want to add (measly 3% or even less) income to your monthly income after getting a flat and then renting out.
    4. I want to switch from one location to another comparable area. For example from Gurgaon to Noida.

    So I won't sell in case I'm satisfied with my income and residence just for getting the rental income.

    No body can predict price after 2-3 year. Less than two year ago it was available 25-30k. Now it's almost double.
    I think circle rate are now 20k per sq yard.
    Did you enquire how much money in white those dealer told you? In case it's only circle rate in white then 30 k black you can use only in black not for acquiring the new property.
    Also there is capital gain tax implication.

    What ever amount you managed to get in white will be treated(excluding the actual cost) as long term capital gain in case you have that plot in your possession for more than 3 years. Whole amount(including original cost) has to be invested in house property to save tax. In case of plot then house need to be constructed within three year. Otherwise you need to pay long term capital gain tax, I think 10%.

    As I said no body can predict how much plot will appreciate but you can't go wrong with this in long term.
    You can expect on an average 8-10% increase this makes about about 10 lac to your kitty per annum but irony is that you can't utilize it until you sell. ;-)

    So keep in mind all these thing before taking any decision.

    btw I'm also in the same boat.

    r
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  • HUDA SECTOR 57 ...BIG SCAM

    HUDA GURGAON OMMITS AROUND 300 RESIDENTIAL PLOTS IN SECTOR 57 GURGAON....AND CASE PENDING SINCE LAST 4 YEARS ....WITH NO ACTION AND A SCENT OF SCAM FROM HUDA AUTHORITIES .....

    I have been continuosly writing to HUDA gurgaon authorities regarding my sector 57 plot which is still ommited from last 4 years .It has been a VERY VERY VERY painfull struggle so far just to get my own plot to build my house .But still no reply , WHICH IS VERY VERY STRANGE , HUDA IS NOT ABLE TO RELEASE MORE THAN 200-300 PLOTS IN GURGAON TO SOME DEPRIVING AND NEEDY CUSTOMERS .


    Since I referred to various bullet points regarding sector 57 plots and is still wanting to know answer to some of the most intriguing questions from Haryana’s largest land authority HUDA .I have Eight Marla plot which I own AND HUDA ALLOTED ME THE SAME PLOT WITH HUDA ALLOTMENT LETTER and i m depositing yearly instalments on that , I m still waiting to see any action on HUDA sector 57 gurgaon plots .
    We need to create lot of transparency in the processes or else common man,s trust will be shaken with the government .MY HUDA sector 57 plot has been ommited or removed from HUDA map and due to that my plot value is currently zero which inhibits sleepness nights .My wife is also quite ill and my financial situation has been going down day by day ..Only thing which I counted upon is my plot which I bought from Haryana govt (HUDA) too doesn’t hold any significance .I m currently staying in rented accomodation in sector 17A gurgaon .Even after me having this sector 57 gurgaon plot and paying on time instalments to HUDA still I have to live in rented accommodation from last so many years .

    In sector 57 issue I would request that HIGH LEVEL ENQUIRY OF A SCAM is required and there are about more than 200-300 allotees who are waiting for justice so that they can build their dream home in Gurgaon .I see no reason why HUDA gurgaon cannot allot alternate plots soon to effected parties when there is lot of land being availiable to them .

    All this land has been allotted by HUDA and proper license has been issued by DTCP Huda gurgaon, when huda can grant licenses to private builders in new sectors then why cant they allot alternate plots to sector 57 allotees who are suffering badly without any home to live .
    Last year HUDA held a draw on 16th July , 09 for some of the omitted allotees whose plots were omitted and released very few plots and gave a strong promise to all other parties like us that they will release our plot very soon in next 2-3 months and till now nothing has happened .This is corruption at its best .

    I visited several times to HUDA office in gurgaon and again got a same reply that you will get the plot but nothing happened so far .Already more than 5 years passed when HUDA released the draw of sector 57 in open market and this case being pending from quite a long time .Whenever I tried calling HUDA gurgaon in regard to my plot , I never got to know the right reply .I came to know that there have been some court litigation on our plots and case is going on in Punjab Harayan high court .What amazes me is that howcome HUDA is demanding instalments every year for the plots which are under court litigation and why HUDA cannot reallot the alternate plots to effected parties when there is so much land availiable in Gurgaon , when HUDA can allot land to private builders then why not people like us whose plots were omitted .

    Well this is not story of mine or any other person , this is related to more than 200 families who are endlessly suffering for their land .Times have changed from past to present when people have to wait for their rights but still in this 21st century we are waiting to get justice since last more than 4 years which is quite astonishing .I had a hope that my plot would be my life’s savings and will support me when in downturn , but now that too seems to be effected .I m middle class person who is working and staying on rent in Gurgaon for last so many years with only one dream which is owning my own house in Gurgaon .For that matter I have saved every single penny of my earnings from last so many years to buy this plot but now when I even think of it that my plot is under lititgation gives me jitters .I don’t know whom to approach and what to do and therefore with lot hope I m writing to you .
    My again urgent submission is to kindly give a serious look into this matter and get some action initiated to plug the loopholes because common man is suffering to get the piece of land which is his future dream house .
    I look forward to serious and quick action so that we can remove the curtain from the callous attitude of HUDA authorities .

    ALL THE SECTOR 57 OMMITED PLOT EFFECTED PARTIES ....PLS JOIN HERE AND TAKE SOME STEPS TO GET OUR LAND BACK ......

    Let me know if more information sharing is required and the subsequent progress in this case .

    Due Regards,
    Hari Om Sejwal
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  • Hi

    Dear rahulmathur9, I agree with ISHANb, the plot rates, specially in Sector 57 will not be able to see much apprciation now as Golf course extn. area has taken over the charm of Sec 54-57 area.

    Would suggest you to sell it off as soon as possible & invest in a flat in an upcoming area for good rental income as well as good appriciation.

    BTW what's the size of the Plot ??? Is it the 60 yards one or the bigger one?

    If it's a 60 yards one then don't wait to dispose if all the leaglities seem fine.

    Thanks
    ~V~
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  • Originally Posted by vikramwix
    Dear rahulmathur9, I agree with ISHANb, the plot rates, specially in Sector 57 will not be able to see much apprciation now as Golf course extn. area has taken over the charm of Sec 54-57 area.

    Would suggest you to sell it off as soon as possible & invest in a flat in an upcoming area for good rental income as well as good appriciation.

    BTW what's the size of the Plot ??? Is it the 60 yards one or the bigger one?

    If it's a 60 yards one then don't wait to dispose if all the leaglities seem fine.

    Thanks
    ~V~


    I respect your opinion but beg to differ. Land will always have its charm since there will always be people who want to build their own kothis rather than apartments. Per my understanding, its easier to get an apartment in GGN but not that easy to get a good plot. Plots prices might have reached a plateau similar to apartments but in long term, I believe, it always pays off to invest in plots. I can easily buy a 3bhk luxury class under const apartment in GGN for ~1.5 CR but its not that easy to buy a good plot in the same amount. I agree with Ishan on upcoming GCx area though - when you compare plots to plots, GCx should give better returns.

    Then again, looks like investing in anything & everything will give amazing returns in GGN so whatever decision you make - you cant go wrong.
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  • Yes, 3 years and + is a pretty good holding horizon & should fetch handsome returns . rahulmathur9, i think u should retain the plot .
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  • HUDA GURGAON OMMITS AROUND 300 RESIDENTIAL PLOTS IN SECTOR 57 GURGAON....AND CASE PENDING SINCE LAST 4 YEARS ....WITH NO ACTION AND A SCENT OF SCAM FROM HUDA AUTHORITIES .....
    I have been continuosly writing to HUDA gurgaon authorities regarding my sector 57 plot which is still ommited from last 4 years .It has been a VERY VERY VERY painfull struggle so far just to get my own plot to build my house .But still no reply , WHICH IS VERY VERY STRANGE , HUDA IS NOT ABLE TO RELEASE MORE THAN 200-300 PLOTS IN GURGAON TO SOME DEPRIVING AND NEEDY CUSTOMERS .

    ALL THE SECTOR 57 OMMITED PLOT EFFECTED PARTIES ....PLS JOIN HERE AND TAKE SOME STEPS TO GET OUR LAND BACK ......
    Let me know if more information sharing is required and the subsequent progress in this case .
    Due Regards,
    Hari Om Sejwal
    CommentQuote
  • Originally Posted by MANOJa
    Yes, 3 years and + is a pretty good holding horizon & should fetch handsome returns . rahulmathur9, i think u should retain the plot .


    yes well actually depends on what kind of an investor in rahulmathur(we ll know if he cares to speak up !!!)
    i mean ones who dont want to fiddle too much and thinks selling and buying another property is a big hassle , or one who wants max ROI from investment !!!

    I feel max ROI can be achieved by investing the same amount in an appt/plot in an upcoming area of gurgaon -nh-8, sohna road , gc ex etc . preferably in a private developers township if its a plot ones looking for .
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  • Ishan, u could be right here, really depends on rahul's risk taking appetite & his mindset . But, if he is looking to sell the plot, the best thing would be to reinvest in a plot only .
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