Hi Guys,

One of my cousins is looking to buy a house immediately for his own end use in either south Delhi or Gurgaon . His budget is not more than 2 Cr . He is looking for either builder floors or independent houses/plots from anywhere between 180-300 sq. yards .

Since his budget is low for south delhi . There are less options for him in South delhi in areas like CR Park , East of kailash , Kailash hill , GK 1 (old construction) Hauz Khas , Kailash colony , Malviya nagar (Mostly B category areas of south delhi) .

Whereas in Gurgaon , he can have many options like a builder floor in DLF 1 or an independent house in SL 1 , SL 2 , South city 1 and many HUDA Sectors and also few ready to move in apartments in Highrise buildings .
Since he would be living alone and with his future wife and children(Currently he is a bachelor) , his main criterias are security , 100% residential colonies ,good infrastructure ,wide roads, parking etc .

He is utterly confused as to what to choose between South Delhi and Gurgaon since both the areas have positives and negatives .

Guys please help and give in your suggestions as to what he should go for ?

Thanks in advance .
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  • Originally Posted by Munish Malhautra
    i have quickly scanned the thread....not sure what are the criteria for moving since the details are incomplete.....

    anyways if u can add JP Greens-Sun court/Moon court(option of 1-2 flats per floor) which is at pari chowk amidst 350 acres golf course, 85% open area actually...u/ur family will never regret in your life, just have a look at the project and let me know....price shud be 2cr.


    Varun-fyi maybe u missed the above option.
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  • Originally Posted by VarunVKV
    Thanks for the reply ishanb bhai , which option you suggest , a floor in DLF phase 1(360 sq. yard) or a plot in SL2(240 Sq. yard) ? A dealer told my cousin yesterday that the registration for builder floors is becoming very difficult as the government has imposed many rules and regulations like , Completion certificate etc which are not available with most of the builders, is that correct ?


    Naa its all bullshit , everywhere in india one needs completion certificate yaa ..... and CC is also not a pre requisite for registration of builder floor but you should buy a floor or for that matter even a kothi which has CC with it ....

    Also living wise , dlf-1 builder floor would be better , but appreciation wise 240 plot in sl-2 will give more appreciation ..... he can also have a look at 150 sq yd built up options avlble in dlf 1 which would be avlble in range of 2-2.25 depending on location !!!!
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  • Originally Posted by ISHANb
    Naa its all bullshit , everywhere in india one needs completion certificate yaa ..... and CC is also not a pre requisite for registration of builder floor but you should buy a floor or for that matter even a kothi which has CC with it ....

    Also living wise , dlf-1 builder floor would be better , but appreciation wise 240 plot in sl-2 will give more appreciation ..... he can also have a look at 150 sq yd built up options avlble in dlf 1 which would be avlble in range of 2-2.25 depending on location !!!!


    Yes , the CC is required everywhere in India but if i talk of delhi, 95% of Owners don't have it , if one keep this as a major criteria in delhi , one would not be able to buy anything other than few latest constructions .

    I gave him the suggestion to buy a plot in SL2 since he can also generate some income by leasing out the upper floors and after few years he can dispose the upper floors , so he can have both as investment and end use . But yes living wise DLF 1 is better . Is 150 sq. yard a good option , i mean is it in demand cos i 've heard in Gurgaon plots above 250 sq yards are the ones which are easy to find buyers. anything less is slow moving ..
    Now the BIG question , Can we expect the prices to come down since the ratio of white money has increased a lot after the recent hike in circle rates . I have been told by local dealers that since the increase in circle rates the market for plots in these regions has slowed down and if things remain this way ,the market is expected to come down in 3-4 months ?
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  • Originally Posted by Munish Malhautra
    i have quickly scanned the thread....not sure what are the criteria for moving since the details are incomplete.....

    anyways if u can add JP Greens-Sun court/Moon court(option of 1-2 flats per floor) which is at pari chowk amidst 350 acres golf course, 85% open area actually...u/ur family will never regret in your life, just have a look at the project and let me know....price shud be 2cr.

    Originally Posted by Munish Malhautra
    Varun-fyi maybe u missed the above option.


    Hi sorry Munish , missed your post . He is not interested in any place other than the Gurgaon and South Delhi , Noida , GN may be a good option but he is not considering it .
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  • 150 sq yd built up in dlf-1 would be a decent option for living , but there is just one drawback that as per law right one cannot register floors made on a plot lesser than 180 sq yds in gurgaon .....

    And well i guess the plot market is doing decent (obviously not at its peak like it was 7-8 months back ) but in long term and short tem it is expected to do pretty good .....

    and about buyers ... well 500 sq yds and above are the most expensive in dlf , but also not all can afford such sizes , plots below 180 sq yds also find a good deal of buyers as the market segment is completely different for these plots and the bigger plots ........


    And this thing about CC is not new . its been there for long so there no new development as such that you should be cautious about !!!

    Originally Posted by VarunVKV
    Yes , the CC is required everywhere in India but if i talk of delhi, 95% of Owners don't have it , if one keep this as a major criteria in delhi , one would not be able to buy anything other than few latest constructions .

    I gave him the suggestion to buy a plot in SL2 since he can also generate some income by leasing out the upper floors and after few years he can dispose the upper floors , so he can have both as investment and end use . But yes living wise DLF 1 is better . Is 150 sq. yard a good option , i mean is it in demand cos i 've heard in Gurgaon plots above 250 sq yards are the ones which are easy to find buyers. anything less is slow moving ..
    Now the BIG question , Can we expect the prices to come down since the ratio of white money has increased a lot after the recent hike in circle rates . I have been told by local dealers that since the increase in circle rates the market for plots in these regions has slowed down and if things remain this way ,the market is expected to come down in 3-4 months ?
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  • Originally Posted by ISHANb
    150 sq yd built up in dlf-1 would be a decent option for living , but there is just one drawback that as per law right one cannot register floors made on a plot lesser than 180 sq yds in gurgaon .....

    And well i guess the plot market is doing decent (obviously not at its peak like it was 7-8 months back ) but in long term and short tem it is expected to do pretty good .....

    and about buyers ... well 500 sq yds and above are the most expensive in dlf , but also not all can afford such sizes , plots below 180 sq yds also find a good deal of buyers as the market segment is completely different for these plots and the bigger plots ........


    And this thing about CC is not new . its been there for long so there no new development as such that you should be cautious about !!!


    The cousin enquired with brokers , he is getting few plots in the range of 60-65K per sq. yard at SL 2 . Isnt a plot of 240 sq. yard in SL2 overall a better option ? He can own a complete plot , can lease or sell the upper floors as and when required and as you said appreciation chances are more when compared to DLF , so the positives are more than negatives , how do you overall rate SL2 for living and do you think the prices are going to come down in plots in the coming 2-3 months ?
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  • Originally Posted by VarunVKV
    The cousin enquired with brokers , he is getting few plots in the range of 60-65K per sq. yard at SL 2 . Isnt a plot of 240 sq. yard in SL2 overall a better option ? He can own a complete plot , can lease or sell the upper floors as and when required and as you said appreciation chances are more when compared to DLF , so the positives are more than negatives , how do you overall rate SL2 for living and do you think the prices are going to come down in plots in the coming 2-3 months ?



    Well economically as you said sl-2/3 makes sense ...and i did not say sl-2 /3 have more appreciation scope than dlf i meant appreciation would be MORE IN PLOT in sl-2 than a FLOOR IN DLF ...and the price range for 240 sq yds if your brother is getting between 60-65 k is a very decent deal , although just check the location of sl-2 plots as in some areas there is involvement of ghata gaon .....
    so just check that .... and i dont think prices would come down , but noone can predict the future ....
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  • The only place in gurgaon which comes close to South Delhi is DLF 1 and 2 which is quite expensive. People move to gurgaon for jobs and financial reasons mainly. I would advise you to personally go and visit the places you have shortlisted, ask a few friends etc. I dont live in gurgaon though just my 2 cents.
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  • Whatever you do, never sell your property before finalising the new one.
    By the way is it absolutely necessary that one should live in his own house? Why can't he rent out the property in Delhi and live on rent in Gurgaon? Do you really belive that long term appreciation of Delhi will be lessor? As for Gurgaon, it is more likely that the rental values may not appreciate much compared to Delhi as more and more good properties may become available with the passage of time.
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  • Originally Posted by varghese
    Whatever you do, never sell your property before finalising the new one.
    By the way is it absolutely necessary that one should live in his own house? Why can't he rent out the property in Delhi and live on rent in Gurgaon? Do you really belive that long term appreciation of Delhi will be lessor? As for Gurgaon, it is more likely that the rental values may not appreciate much compared to Delhi as more and more good properties may become available with the passage of time.


    Hi Verghese , nice suggestions . Well what you have said does make sense but his case is lil different , he is currently living in a joint family and once they dispose off the house ,the amount will be distributed equally , so by all means he has to hunt for a house and i personally feel there's no better place to invest than buying house for your end use . You can enjoy the best living as per your budget and at the same time enjoy appreciation which will always provide you the piece of mind .
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  • Have to agree.
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  • Originally Posted by ISHANb
    although just check the location of sl-2 plots as in some areas there is involvement of ghata gaon .....
    so just check that .


    Thanks Ishan bhai for that update .

    Varghese bhai you and i may agree but somehow my cousin is not 100% convinced with this advice , i adviced him to increase his budget for his house hunt by adding the savings (60 lacs approx) he has .
    Although he wants to invest that money into real estate only but he feels its rather better to invest that money as an investement somewhere in NCR rather than for his own end use . He says he don't wanna keep all his eggs in the same basket whereas i feel if he includes this amount in his home search ,he can have few other good builder floor options in South Delhi . Guys give in your views

    1) Should he include that amount in his search for his home
    OR
    2) Should he invest that amount somewhere else into Real Estate

    I 'll ask him to join this forum and see all the advices himself .
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  • Hm......

    Let me put it this way.

    There can be two ways in which you can see money.

    One is to see it as a facilitator and an instrument for freedom. I belongs to this category. I would rather have money handy so that I can decide how I spend my life. For me life is made of time.

    The other view is to see money as something which brings luxuries which in turn is addictive. I would rather go with your cousin. So that he will not have to indulge in luxuries which he may not require and invest the amout in another property which will give him a sense of freedom. Smaller properties may be easier to sell also.
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  • Originally Posted by varghese
    Hm......

    Let me put it this way.

    There can be two ways in which you can see money.

    One is to see it as a facilitator and an instrument for freedom. I belongs to this category. I would rather have money handy so that I can decide how I spend my life. For me life is made of time.

    The other view is to see money as something which brings luxuries which in turn is addictive. I would rather go with your cousin. So that he will not have to indulge in luxuries which he may not require and invest the amout in another property which will give him a sense of freedom. Smaller properties may be easier to sell also.


    I would slightly like to differ here . In his budget of 60 odd lacs he would not be having many good options to invest in Delhi , he would have to invest either in gurgaon or Noida and that too in properties that are under construction . I guess a good ready to move in property in delhi will be far more easier to sell than a property that is under construction in Gurgaon or Noida and whereas the appreciation would also be more compared to NCR and in the need of immediate money, he can always sell his house and shift to gurgaon/Noida .
    I know many people from south delhi who did so , they sold off their homes back here in south delhi and purchased a plot/floor in gurgaon at half the cost and invested the remaining sum of amount in their business, infact this is one of the main reasons you see many Delhites(especially business class) living in places like DLF and SL .

    If he had a budget of 5-6 crores , What you suggested makes sense , in 60 lacs it wont make a huge difference , whereas he may find a good floor in south delhi if he includes that amount in his home search . Purchasing a house is a once in a lifetime thing for many ,hence i feel one should not compromise on that . Just my pov .
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  • This is gettin interesting.

    What do you mean by Good Property?

    An investment is an investment. The purpose of it should be appreciation. I would be willing to to invest in almost anywhere in Delhi more probably in DDA colonies where there are some parks and open space that you will not feel suffocated and there is some parking facility. It can be for Rs.25 lacks for a Janata Flat and 1 corores of an MIG Flat. For somebody having 60 lacks in his kitty, he can avail a Bank loan for a bigger house also. The interest paid minus the rent received on a rented property can be decreased from your income(without any limit) for I.T purpose as loss from property.

    Try to find out whether there is any DDA colony in Delhi where the prices have not doubled within the last 5 years. If you take a paper and calculator and do some calculation you may agree with me.

    Now the point about buying the new properties which are being launched. I believe that it is very lucrative to book for a property at its pre-launch and launch stages. Of course there is risk involved. It would require a lot of research and is time consuming process also. But the losses you may incur in one project will be doubly compensated in others in which you make profit.
    The point is do the due diligence as if you are going to buy a property where you expect to say. You generally book with 10% of the project cost. In most of the cases in the first year you may not have to make any more payment since they have not started anything yet. In the next year if the price of the property is increased by 10% your investment is doubled if you sell your booking.
    But most importanly believe in your Common Sense while listening to the experts.
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