Hello Folks, :bab (26):

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 :bab (41):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:bab (59):

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:bab (30):
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
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  • Expert Advice

    Originally Posted by rohit_warren
    b) I would like to finance it ~50 Lakhs
    Originally Posted by rohit_warren


    Kamaal hai yaar 65 lakh ke property aur 50 lakh ka loan wo bhi by someone which is staying in US for 5 years (till 2014 worst case)

    yaar etne paise to yahi mil jaayege fir waha kya kar rahe ho ?

    bhai waha se paise kama kar laao aur India mai poora lagao - kyu pange lete ho banks ko involve karke.

    Rohit


    Sir,

    Thanks for your comments! :bab (6): Would have appriciated further, if you would answer some of my queries. None the less, thanks for passing remarks!
    Now since you have given suggestions, I believe, you are also entitled for some explaination, so here it is:
    yaar etne paise to yahi mil jaayege : 1) It will depend upon the profession too...:-) At least the profession i'm, i don't see in India, i would be paid such renumeration, in at least 4-5 years :-)
    2) I will love to wait for 2015, but then , the price in Dway will be what is there in Golf course extension (may be a little exaggeration but who knows!!)
    3) I want to sit on the cash , i see some immediate need for that
    4) I'm just 28 and i really need to toil for earning. Really want to get into the league of all your genius, who could get-in / get-out and 1 day, would want to write on this forum: "This RE is not for end-use and for investment purpose!"

    kyu pange lete ho banks ko involve karke. -
    Really, is it a PUNGA? I thought, Banks are there to fund you and earn money so that this economy could keep on propelling. The money locked in the vault of banks are no good, isn't it? (off course liquidity in the market adds-up to inflation , but hey, it can't be a sole reason to stop funding people to lent)

    Appreciate, if you have some suggestions/pointers to my original query (though i have to accept, i got some pointers by just writing on this forum)!

    Cheers!
    CommentQuote
  • Originally Posted by BlessU
    Hi Amit
    Greetings

    My problems were very very similar to yours but I was generally scouting for investment/end use/50-90lacs/Horizon 3-5years/100%own capital/Low risk as own capital and have tried to tabulate opportunites around dway in the open link.. Hope it is helpful for you! Do update if you find anything useful for others help..

    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2

    Cheers


    Hello:bab (6):

    Thanks for your answers!

    I've also searched for the apartments in DWay (since my horizon could be as late as 2014-15). I think, with finance option + Not being In Delhi before November, looking for a re-sale property might not be a best fit? Isn't it?

    I don't see much pre-launch too! While exploring some options, i noticed, in near future there might be some launches:
    ATS - 109
    Raheja Shristi - 109

    Chintels Paradiso - Not sure, if it's alredy sold out?

    I could PM you, if you could direct me to some prestigious broker (given, i will be booking from here!)

    Thanks in advance for your help!

    Cheers,
    Amit
    CommentQuote
  • Dear All,

    Please suggest on the offer of 3BHK - 1700 sq ft Rs2900 psf in Era 103.
    (EDC+PLC etc extra)
    Amount already paid by seller till date: Rs. 5 Lacs towards booking.

    Should i go for this.
    Thanks
    CommentQuote