Dear Friends

At the outset, I really value arguments and counter arguments on this Forum by many members who have deep insights and knowledge of the market and projects. Thats why my recourse to this Forum to seek different viewpoints to overcome my dilemma.

I have a 160 sq yards plot in Sector 46 bought for investment purpose in 2006. I am not going to live there as my job is outside. I have following options:

(i) To get three floors constructed and give them on rental as the plot is not getting me any income only capital appreciation which is also stagnant for the last two years. ( I have close relatives in Gurgaon who can oversee construction given to a reputed contractor).

(ii) To sell it and buy a bigger plot say 200 sq or 240 sq yard in semi gated places in South City II etc but availability of good plots is a major issue and trying to find one takes huge time.

(iii) To sell it and invest the money in some good project around GCX or Sohna Road. (I have some emotional issue in this as this is the only piece of land I own and want to keep it or some other plot but if it makes economic sense to buy an apartment in some good project which can fetch better capital appreciation and rental I will go for it).

So Sirs please take some time to read the broad outline of my case and give your suggestions as I am sure there may be many facing similar dilemma. Many Thanks
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  • What price your getting for your plot?
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  • Last checked I think it was somewhere around 80-82000 per sq yard.

    Members please spare some time to pitch in with your comments.

    I think the cost of construction of 2.5 floors would be around 45 -50 lakhs and rental income would be around 15-20000 per floor as per going rates on magicbricks or 99.acres
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  • I think it is a Huda plot. You can sell it and go for Dlf sector 92 plots 40000per square yard and buy 300 square yard plot . Enjoy

    Sent from my GT-I9190 using Indian Real Estate Forum mobile app
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  • Yeah Its a HUDA plot Sector 46. But there is no comparison of location of this plot and Sector 92 plot may be if its a DLF. As everyone knows location of Sector 46 is superb, livable, close to Metro, malls, schools, close to NH 8, Delhi and Sector 92 will be never ever be like Sector 46. Is there any other location like Rosewood, Unitech South City II etc where one can get a slightly bigger plot with not a huge infusion of funds.
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  • So what. You will be paying 35000 square yard for this plot. This is the option only. Going for it or not is your decision.

    Sent from my GT-I9190 using Indian Real Estate Forum mobile app
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  • Originally Posted by Janin76
    Yeah Its a HUDA plot Sector 46. But there is no comparison of location of this plot and Sector 92 plot may be if its a DLF. As everyone knows location of Sector 46 is superb, livable, close to Metro, malls, schools, close to NH 8, Delhi and Sector 92 will be never ever be like Sector 46. Is there any other location like Rosewood, Unitech South City II etc where one can get a slightly bigger plot with not a huge infusion of funds.

    In sec 46 good location small plot is not less then 87k-88k.My advice construct 3 floor in 1500/sq ft u ll build a great house.
    That will cost u around 50 lakh
    And put them on rent ull get min 18-20 k per month for each floor.
    Assuming u get plot at 60 lakh total cost will be 110 lakh.
    And get 60k rent that will be 6% roi in means of rent that is great return.
    And in future if u need fund sell one floor.
    In my idea 1 floor will be not less then 95-100 lac.
    That will cover ur all ur cost.
    So live free and enjoy returns
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  • Originally Posted by vik thakur
    In sec 46 good location small plot is not less then 87k-88k.My advice construct 3 floor in 1500/sq ft u ll build a great house.
    That will cost u around 50 lakh
    And put them on rent ull get min 18-20 k per month for each floor.
    Assuming u get plot at 60 lakh total cost will be 110 lakh.
    And get 60k rent that will be 6% roi in means of rent that is great return.
    And in future if u need fund sell one floor.
    In my idea 1 floor will be not less then 95-100 lac.
    That will cover ur all ur cost.
    So live free and enjoy returns

    What size plot is available for 60 lakhs?
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  • Originally Posted by miketest
    What size plot is available for 60 lakhs?

    Sir he bought this 160 sq yrd plot in 2006.
    So its just my assumtion that in 2006 may be plot rate were 40k.
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  • Originally Posted by vik thakur
    Sir he bought this 160 sq yrd plot in 2006.
    So its just my assumtion that in 2006 may be plot rate were 40k.

    Ohh ok.
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  • Originally Posted by Janin76
    Dear Friends

    At the outset, I really value arguments and counter arguments on this Forum by many members who have deep insights and knowledge of the market and projects. Thats why my recourse to this Forum to seek different viewpoints to overcome my dilemma.

    I have a 160 sq yards plot in Sector 46 bought for investment purpose in 2006. I am not going to live there as my job is outside. I have following options:

    (i) To get three floors constructed and give them on rental as the plot is not getting me any income only capital appreciation which is also stagnant for the last two years. ( I have close relatives in Gurgaon who can oversee construction given to a reputed contractor).

    (ii) To sell it and buy a bigger plot say 200 sq or 240 sq yard in semi gated places in South City II etc but availability of good plots is a major issue and trying to find one takes huge time.

    (iii) To sell it and invest the money in some good project around GCX or Sohna Road. (I have some emotional issue in this as this is the only piece of land I own and want to keep it or some other plot but if it makes economic sense to buy an apartment in some good project which can fetch better capital appreciation and rental I will go for it).

    So Sirs please take some time to read the broad outline of my case and give your suggestions as I am sure there may be many facing similar dilemma. Many Thanks


    Hi
    Greetings

    Sir why are you thinking of touching and defacing a "gandhi note" with some structure on it??

    It is a huda plot which has ready saleable value and the easiest to sell. The price discovery is the easiest for a HUDA PLOT and can be sold overnight, regardless of market conditions, and if need be at a discount of Rs 100 psy.

    Every broker.. big or small, worthy of name in the area, will give you an near approximation with value not varying between the highest and the smallest, by a margin of variance greater than Rs 500-1000 psyd.. There is no headache, no maintenance charge.. simply build boundary wall, get a mochi/malli/dhobi to settle in so that people can be prevented from encroachment/use the plot as garbage dump.

    Once constructed, selling chances are reduced, people give different valuations, difficult to sell ready buyers.

    investing in a flat by disposing off a plot may be your biggest mistake of life, as capital appreciation trajectory of both plots and flats are congruent and not have independent and different directions, in a given market. Besides, if FAR increases, the benefit will go to builder and if you are a plot owner the benefit will go to you..

    Just chill and sleep tight.. invest any disposable income in some farm/agricultural land, if immediate regular income generation is not a compulsion.

    Hope that helps

    Cheers
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