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Seeking Experts advice

Last updated: October 12 2011
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  • Seeking Experts advice

    Hello Folks,

    I need your expert advice on a RE investment from an END-USE perspective. Before i go further, like they say, "don't hide any facts from counselor/Advocate/Doctor", i would like to give a stock of my current position:

    Situation
    1) I'm living in the US from last 1 years and worst case scenario, will have to leave by 2014 and best case scenario (once i feel like leaving) , five years from now, i.e. by 2016.
    2) I have a flat in Mumbai but i lived in ggn for 5 years and i've fallen in LOVE with NCR and would like to settle here.
    3) I'm looking for a property with following features:
    a) Around 65 Lakhs
    b) I would like to finance it ~50 Lakhs
    c) Property should be inhabitable by 2013-15 timeframe
    d) Property is for end-use but if i needed to, i would like to have an exit criteria
    e) I will be visiting delhi, November 1st week (but want to book it before)
    g) > 1500 sqft (built-up area) + 3 BHK
    f) My knowledge is very limited, in terms of arranging finance without travelling to India (though, i have overheard that it's possible).Before jumping all the hoops, i would like to understand if it's POSSIBLE TO AVAIL A FINANCE WITHOUT GOING TO INDIA

    PROJECTS CONSIDERED
    1) Skyz - Sector 37D (3400 psft)
    2) Uniworld Resorts The Residence - Sector 33 (3295 psft)
    3) I don't want to go down towards manser - TOO FAR
    I need your help with (more projects suggestions) and pros/cons for point (2) , i have been confused enough with Skyz by reading this forum

    Legality
    1) I'm in touch with some of the companies ( allcheckdeals) and they seemingly sounded very confident that for the "booking and securing a finance", I need not need to travel India and everything could be arranged. I need your help, in evaluating this statement, on a high level, whether it's true or NOT?

    2) Power Of Attorney - Any information about the procedure (though i have to accept that, i am asking without searching for it over net - The thing, which i don't like myself- Seeking answers, without first making an attempt myself to find it - too much)

    3) Broker / Service companies contacts - I will highly appreciate, if you could DM me some reliable sources in GGN to reach out and hold a conversation further.

    I really THANK YOU guys in advance for answering my post and congratulate you for your efforts for helping people out, sitting 1000 miles away!!!
    As i said above in my post, I’m just trying to make some effort to gain more insight before i zeroed down with my choice but at the same time, as someone said: “It is human nature to think wisely and act foolishly.”


    Cheers,
    Amit
    Last edited July 23 2011, 04:03 AM.
    A Desi, far away from Desh !!!
  • #2

    #2

    Re : Seeking Experts advice

    Uniworld Resorts The Residence - Sector 33 (3295 psft)

    I think its a 3 year old price???????

    Am i missing something


    Originally posted by NewKidInTown View Post
    Hello Folks,

    I need your expert advice on a RE investment from an END-USE perspective. Before i go further, like they say, "don't hide any facts from counselor/Advocate/Doctor", i would like to give a stock of my current position:

    Situation
    1) I'm living in the US from last 1 years and worst case scenario, will have to leave by 2014 and best case scenario (once i feel like leaving) , five years from now, i.e. by 2016.
    2) I have a flat in Mumbai but i lived in ggn for 5 years and i've fallen in LOVE with NCR and would like to settle here.
    3) I'm looking for a property with following features:
    a) Around 65 Lakhs
    b) I would like to finance it ~50 Lakhs
    c) Property should be inhabitable by 2013-15 timeframe
    d) Property is for end-use but if i needed to, i would like to have an exit criteria
    e) I will be visiting delhi, November 1st week (but want to book it before)
    g) > 1500 sqft (carpet area) + 3 BHK
    f) My knowledge is very limited, in terms of arranging finance without travelling to India (though, i have overheard that it's possible).Before jumping all the hoops, i would like to understand if it's POSSIBLE TO AVAIL A FINANCE WITHOUT GOING TO INDIA

    PROJECTS CONSIDERED
    1) Skyz - Sector 37D (3400 psft)
    2) Uniworld Resorts The Residence - Sector 33 (3295 psft)
    3) I don't want to go down towards manser - TOO FAR
    I need your help with (more projects suggestions) and pros/cons for point (2) , i have been confused enough with Skyz by reading this forum

    Legality
    1) I'm in touch with some of the companies ( allcheckdeals) and they seemingly sounded very confident that for the "booking and securing a finance", I need not need to travel India and everything could be arranged. I need your help, in evaluating this statement, on a high level, whether it's true or NOT?

    2) Power Of Attorney - Any information about the procedure (though i have to accept that, i am asking without searching for it over net - The thing, which i don't like myself- Seeking answers, without first making an attempt myself to find it - too much)

    3) Broker / Service companies contacts - I will highly appreciate, if you could DM me some reliable sources in GGN to reach out and hold a conversation further.

    I really THANK YOU guys in advance for answering my post and congratulate you for your efforts for helping people out, sitting 1000 miles away!!!
    As i said above in my post, I’m just trying to make some effort to gain more insight before i zeroed down with my choice but at the same time, as someone said: “It is human nature to think wisely and act foolishly.”


    Cheers,
    Amit

    Comment

    • #3

      #3

      Re : Seeking Experts advice

      Originally posted by amit001 View Post
      Uniworld Resorts The Residence - Sector 33 (3295 psft)

      I think its a 3 year old price???????

      Am i missing something
      You are right, correct one is: 3395/-

      Please see here: AllCheckDeals.com - Unitech Builder Developer - Unitech Residential Property - Original Booking - Unitech Group - New Projects - India
      A Desi, far away from Desh !!!

      Comment

      • #4

        #4

        Re : Seeking Experts advice

        Sir the correct price is 5800-6000

        Comment

        • #5

          #5

          Re : Seeking Experts advice

          This is a BUMMR now..does it mean that all the deals shown on CheckAllDeals.com are not updated? If so, what is indeed a reliable source of finding the deals with CORRECT price?

          BTW, Any insight on my queries? Please excuse me for my ignorance of the correct price...isn't the name says it all: NewKidInTown :P
          A Desi, far away from Desh !!!

          Comment

          • #6

            #6

            Re : Seeking Experts advice

            Originally posted by NewKidInTown View Post
            This is a BUMMR now..does it mean that all the deals shown on CheckAllDeals.com are not updated? If so, what is indeed a reliable source of finding the deals with CORRECT price?

            BTW, Any insight on my queries? Please excuse me for my ignorance of the correct price...isn't the name says it all: NewKidInTown :P
            Yes, allcheck deals is not updated in prices.
            3395 price in Sector 33 will cause a stampede of buyers in Gurgaon

            I generally go to 99 acres and make few calls to find out a reliable market price. But I would be happy to learn from senior members in this forum on how to find out reliable prices.

            Comment

            • #7

              #7

              Re : Seeking Experts advice

              ha ha ha...Well said Sachin.
              Indeed it cause stampede..LOL


              Originally posted by onesachin View Post
              Yes, allcheck deals is not updated in prices.
              3395 price in Sector 33 will cause a stampede of buyers in Gurgaon

              Comment

              • #8

                #8

                Re : Seeking Experts advice

                With type of budget you have mentioned you need to search for properties which have bsp around 3500 psf because there will be additional charges you need to be aware of.

                - EDC/IDC charges
                - Preferred location charges
                - Club membership
                - IFMS

                These will contribute an addition of 500 to 1000 psf price.

                Comment

                • #9

                  #9

                  Re : Seeking Experts advice

                  Originally posted by NewKidInTown View Post
                  This is a BUMMR now..does it mean that all the deals shown on CheckAllDeals.com are not updated? If so, what is indeed a reliable source of finding the deals with CORRECT price?

                  BTW, Any insight on my queries? Please excuse me for my ignorance of the correct price...isn't the name says it all: NewKidInTown :P
                  I usually check on ****************. Here also its just an indicator of the price trend as Brokers like to quote lower prices to attract people and later if you call them, they would tell you a higher price. Also the prices quoted usually are BSP and dont include PLC/EDC/Club etc. Still you would get an idea.

                  Comment

                  • #10

                    #10

                    Re : Seeking Experts advice

                    Mate I am an NRI myself. My sincere advice to you will be do not buy anything unless u do thorough on the ground market research and see the property yourself.

                    Dont be in hurry. Buy when you are here in India. However in case you like any prelaunch u can do thorough research on this forum and may go for it, still it is advisable that you have some idea about various location in ggn, which from your posts it seems you do not have. Please visit the entire gurgaon market understand various micro markets and only then buy....

                    As they say Dhurgatna se der bhali...

                    Also one wrong decision will give you a lot of unnecessary tension, since you are away from India you wont even have the opportunity to quickly dispose off a wrongly bought project.

                    Also keep in mind that there are large numbers of brokers and manipulators in the forum who try each and every trick in the book to lure a gullible and naive investor like you. So do not believe an argument or suggestion or a supposed fact unless 5-6 more people agree to it. There are lot of nice people on the foum also who will come forward and help you.

                    Best of Luck and Be Careful -


                    Originally posted by NewKidInTown View Post
                    This is a BUMMR now..does it mean that all the deals shown on CheckAllDeals.com are not updated? If so, what is indeed a reliable source of finding the deals with CORRECT price?

                    BTW, Any insight on my queries? Please excuse me for my ignorance of the correct price...isn't the name says it all: NewKidInTown :P

                    Comment

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