Hi All,

Me and my brother are staying in the Gurgaon area (on rent) currently and paying 16k as a rent. Now, both of us wants to buy our 1st house/apartment for end-usage purpose (2-BHK will work). But looking at the prices of apartments in Gurgaon, I am not sure whether buying two apartments would be possible for us (since currently any 2-BHK apartment in a society will cost around 50-60 lacs atleast which comes out to more than 1 crore for 2 apartments).
Now, since we guys will be taking the loan in any case, I am thinking of an option of buying a residential plot (say in sec-45,46) and then constructing a house over there. I guess even in this case, we would be ending up paying around 80-90 Lacs for the same but will get the land ownership.
Please advice us which would be a better option, going for 2 apartments or going for the 100-120 sq. yard plot and then building the house (may be by giving the contract to some builder).
Also, please share the pros and cons of both option and areas where we can look for plots/apartments as per your choice.

Key notes:
- For end-use purpose mainly
- Need to finance it through banks (would be relying on the loan mainly for payment initially)
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  • A friend of mine who was in similar situation bought a plot in Rohini. They are 2 brothers, shifted from U.P. and working in Delhi.

    Now they are constructing 4 floors on that plot. In Delhi FAR is 3.5 for plots under 100 meters. So, 4 floors (G+3) are allowed after payment of bribe to MCD etc.

    2 floors will be used by them and 2 floors will be rented out. Rent will help in repayment of loan and incase there is any financial emergency in future, floors can be sold to repay the loan.

    I guess it all comes down to financial calculations, issues like how many floors can be constructed on a plot in Gurgaon and can you find tenents for those floors?

    There are obvious advantages of flats in Gurgaon such as power backup and security.
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  • Buying a plot is obviously better than going in for apartments, if u have the finances & go for plots in a gated community .

    If u have limited finances, look at various sectors & choose one carefully, looking at the present infra & developments . If u do not mind the label of Old Gurgaon, take a look at Ansal's New Palam Vihar & some more areas there .

    My take, go for a plot ( even if it means overstretching yr. budget ).
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  • Originally Posted by gaurav_ncr
    Hi All,
    Key notes:
    - For end-use purpose mainly
    - Need to finance it through banks (would be relying on the loan mainly for payment initially)



    Gaurav, if you are relying only on Bank Loans, then it might be difficult for you to buy a Plot, as Banks are not very keen on giving big loans on plots, also the loan which u might get will be very less
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  • Thanks alot for all your suggestions. So seems like buying a plot is prefer way if one can arrange a loan for the same through bank. If you guys have any recommended sectors for plots, please respond back. As I mentioned earlier, we are looking for around 120 sq. yard plot in a budget of around 60 lacs and preferably in new gurgaon area, near to Huda city center station (may be in 6-7 km range, if feasible).
    Looking forward for some advice from you people.
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  • Before going for plot, keep in mind that in Haryana, registry of independent floors is allowed only on plots of 180 sq. yards or above in some sectors. While in case of older sectors and for some other plots, independent floors can be built on smaller plots also. Read the following rules, they include the info that no broker or seller will provide to you:

    http://www.huda.gov.in/Urban%20Branch%20I%20Residential%20and%20Commercial/Policy%209.pdf

    Since you are looking at a 120 sq yard plot, this rule will be relevant for you just in case you wanted to sell an extra floor on your plot or one of you 2 brothers wanted to sell his share in the property for any reason whatsoever in future. Before buying you may want to check if the registry of floors on smaller than 180 yards plot is happening for that area.

    I hope someone will come up with a viable suggestion soon on a decent livable area/sector that meets your requirement.
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  • Never purchased a plot in GGN ( so could be wrong here or wrongly informed by the Brokers ), i was looking for a plot for somebody known & was told by a few Brokers that registry of independent floors for plots less than 180 sq. yards is now open for all areas .


    Please do crosscheck & ThePunjabi could be 100 % correct here & i may have been fed wrong information .
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  • There is a confusion on the construction of 3rd floor on plot sizes of 180 sq.yds and more. HUDA has allowed this in some for the new construction areas like Neharpar, Gurgaon etc, but not in other places, so why is that?
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  • as far as i know .......
    builder floors cannot be registered on a plot size smaller than 180 sq yds ....
    third floor is also not allowed in gurgaon !!!
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  • Lot of builders are actually making G+3 floors(ofcourse bigger than 180 sq.yds) in Neharpar Faridabad and selling it on registry, so why is that?
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  • Originally Posted by ISHANb
    as far as i know .......
    builder floors cannot be registered on a plot size smaller than 180 sq yds ....


    This is correct...
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  • Thanks alot for all this information. So it seems like selling an independent floor on a plot size smaller than 180 sq yard is not allowed in Gurgaon.. that's a bad news for a mediocre end-users like me.
    Still any suggestions for the sectors where one can look for residential plot for end use preferably in a gated society?
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  • I think it is because of increase in loading in colonies that have smaller plot sizes. I have seen builders doing it in their townships, but doing the same on HUDA plot could be an issue.
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  • Would like to highlight 1 more thing..
    You have to arrange at least 35 to 40 lac of cash with you to get a plot.
    Because now days a good 100 Sq yard plot is cost around 60 - 70 lac in 45 -46 sector.

    And most of the plot's seller are asking the minimum white price of the plot, in best case they would take 40 lac in white and rest 30 lac in black.

    For example if 100 Sq yard plot cost is 65 lac. They will ask you to pay 40 lac in white.
    Now you can get 70% of loan on your plot ( In case of plot max loan in 70% with more interest rate).
    Bank will give you 70% of 40 lac i.e. 28 Lac only ... but you need to pay 65 lac to seller means you need to arrange 37 lac from your own + around 2 lac for registry...that is why over all you need to arrange at least 40 lac of cash with you before starting Bank loan process..
    And plot will give better return than Apartment.
    in Gurgaon you can build 2.5 floor on 100 sq yard plot.
    Basically Huda plots are in size of 99.9, 161.4, 204, 263, 342, 502 sq yard
    s
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  • Originally Posted by brij_shukla200
    Would like to highlight 1 more thing..
    You have to arrange at least 35 to 40 lac of cash with you to get a plot.
    Because now days a good 100 Sq yard plot is cost around 60 - 70 lac in 45 -46 sector.

    And most of the plot's seller are asking the minimum white price of the plot, in best case they would take 40 lac in white and rest 30 lac in black.

    For example if 100 Sq yard plot cost is 65 lac. They will ask you to pay 40 lac in white.
    Now you can get 70% of loan on your plot ( In case of plot max loan in 70% with more interest rate).
    Bank will give you 70% of 40 lac i.e. 28 Lac only ... but you need to pay 65 lac to seller means you need to arrange 37 lac from your own + around 2 lac for registry...that is why over all you need to arrange at least 40 lac of cash with you before starting Bank loan process..
    And plot will give better return than Apartment.
    in Gurgaon you can build 2.5 floor on 100 sq yard plot.
    Basically Huda plots are in size of 99.9, 161.4, 204, 263, 342, 502 sq yard
    s


    Good information mate and most of what you said is correct. Just that circle rates in these Sectors are around 30K. If you go for sectors with higher circle rate, the rate of plot would go high as well.
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  • plot/floor

    I have been looking for a plot in gurgaon for last 5 yeaqrs, everytime i thought it was overpriced, let me save some money , ... evrytime i lost...

    the prices have never come down... buy a plot even if smaller, build on it even if it means .. going to a sahukaar..

    if that doesnt work contact me , we will boy together and build 4 floors.. u kep two i keep two..


    plot always even if smaller.
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