Announcement

Collapse
No announcement yet.

Should I buy a Flat in Sec 7578 after 2 years

Collapse
X
Collapse

Should I buy a Flat in Sec 7578 after 2 years

Last updated: August 9 2010
37 | Posts
4780 | Views
  • Time
  • Show
Clear All
new posts

  • Should I buy a Flat in Sec 7578 after 2 years

    Hi Friends

    Recently there have been so many flats launched in Sec 75-78. The count may be close to 50000 with about 16000 in Gardenia + 8000 in Silicon City & Princely estate etc. Add to it about 1,00,000 flats in Noida Extn.
    Almost all of them will be delivering by 2012 end (best case scenario as promised).
    Here is a different view I have adopted to avoid entering the booking game:
    1. Everything is in the Air - Barring a few, even Bhumi Pujan hasnt been done for most of the plots. No Bank funding yet (which sets the timer of 30 months). Who knows when the work will start and when would it complete.
    2. No clue of the final look - everything is promised to be a dreamland but what if things turn out ugly later on. May be another shabby Indirapuram in the making
    3. Infrastructure - About 1.5 lakh new houses would mean 6 lakhs+ people. Are we ready with Electricity, Water, Schools, Hospitals etc?
    4. Price Wars & Confusion - Even though things are a bit cheaper today, there is so much of confusion. One can never be sure to get the best deal for the best apartment.
    5. Supply and Demand - With about 1.5 lakh flats coming up and being delivered at almost the same time, there would be a huge supply around 2012. It will definitely bring down the price of all flats, even the ones in developed areas like sec 50, 51 and 62. One might get a better deal then.

    Hence I am planning to take the flat only later on in 2012. It might cost me a bit more, but atleast I will have all the options available. I can view the societies, their facilities, their finishing, location, flat location, metro existence etc.

    No offenses meant to people who have already booked, but its just a lateral thinking post which might interest some members.

    All the best to All

    Regards
    Buzzz
  • #2

    #2

    Re : Should I buy a Flat in Sec 7578 after 2 years

    How about buying a society flat in vaishali like gaur heights

    Comment

    • #3

      #3

      Re : Should I buy a Flat in Sec 7578 after 2 years

      Good thought, but in my case, there is a constraint of Office in Noida itself...So looking for something local

      Comment

      • #4

        #4

        Re : Should I buy a Flat in Sec 7578 after 2 years

        Any idea about gaur heights. I intend to buy a 2 BHK

        Comment

        • #5

          #5

          Re : Should I buy a Flat in Sec 7578 after 2 years

          Expressway...

          And not to forget Expressway socities. I think around 20 thousand in 137 itself, and then the whole belt of JP projects whci will also be delivered sooner or later. Not sure about the number coming on expressway, but I believe atleast 1 lakh there also....Noida RE is going like anything...and the biggest catalyst for this is NA..they are changing Master Plan like a second class student rubs and redraw his drawing during exam(infact that also comes every 3-4 months)...I hope when all the land is finished, NA don't start selling the roofs of thier and other govt buildings as residential land..though that is also not impossible with BEHENJI and like minded people in power..may God(if He is able to get some land to build His temple) bless Noida...

          Originally posted by buzzz View Post
          Hi Friends

          Recently there have been so many flats launched in Sec 75-78. The count may be close to 50000 with about 16000 in Gardenia + 8000 in Silicon City & Princely estate etc. Add to it about 1,00,000 flats in Noida Extn.
          Almost all of them will be delivering by 2012 end (best case scenario as promised).
          Here is a different view I have adopted to avoid entering the booking game:
          1. Everything is in the Air - Barring a few, even Bhumi Pujan hasnt been done for most of the plots. No Bank funding yet (which sets the timer of 30 months). Who knows when the work will start and when would it complete.
          2. No clue of the final look - everything is promised to be a dreamland but what if things turn out ugly later on. May be another shabby Indirapuram in the making
          3. Infrastructure - About 1.5 lakh new houses would mean 6 lakhs+ people. Are we ready with Electricity, Water, Schools, Hospitals etc?
          4. Price Wars & Confusion - Even though things are a bit cheaper today, there is so much of confusion. One can never be sure to get the best deal for the best apartment.
          5. Supply and Demand - With about 1.5 lakh flats coming up and being delivered at almost the same time, there would be a huge supply around 2012. It will definitely bring down the price of all flats, even the ones in developed areas like sec 50, 51 and 62. One might get a better deal then.

          Hence I am planning to take the flat only later on in 2012. It might cost me a bit more, but atleast I will have all the options available. I can view the societies, their facilities, their finishing, location, flat location, metro existence etc.

          No offenses meant to people who have already booked, but its just a lateral thinking post which might interest some members.

          All the best to All

          Regards
          Buzzz

          Comment

          • #6

            #6

            Re : Should I buy a Flat in Sec 7578 after 2 years

            Originally posted by buzzz View Post
            Hi Friends

            Recently there have been so many flats launched in Sec 75-78. The count may be close to 50000 with about 16000 in Gardenia + 8000 in Silicon City & Princely estate etc. Add to it about 1,00,000 flats in Noida Extn.
            Almost all of them will be delivering by 2012 end (best case scenario as promised).
            Here is a different view I have adopted to avoid entering the booking game:
            1. Everything is in the Air - Barring a few, even Bhumi Pujan hasnt been done for most of the plots. No Bank funding yet (which sets the timer of 30 months). Who knows when the work will start and when would it complete.
            2. No clue of the final look - everything is promised to be a dreamland but what if things turn out ugly later on. May be another shabby Indirapuram in the making
            3. Infrastructure - About 1.5 lakh new houses would mean 6 lakhs+ people. Are we ready with Electricity, Water, Schools, Hospitals etc?
            4. Price Wars & Confusion - Even though things are a bit cheaper today, there is so much of confusion. One can never be sure to get the best deal for the best apartment.
            5. Supply and Demand - With about 1.5 lakh flats coming up and being delivered at almost the same time, there would be a huge supply around 2012. It will definitely bring down the price of all flats, even the ones in developed areas like sec 50, 51 and 62. One might get a better deal then.

            Hence I am planning to take the flat only later on in 2012. It might cost me a bit more, but atleast I will have all the options available. I can view the societies, their facilities, their finishing, location, flat location, metro existence etc.

            No offenses meant to people who have already booked, but its just a lateral thinking post which might interest some members.

            All the best to All

            Regards
            Buzzz
            you are living in fools Paradise. now a days price of those units which will came into existence in 2012/2013, is Rs 2500-3000 PSF. On the days of possession the price will be around 5500-6000( as the price of sector 50 and 51 in now a days are Rs 5500-6000 PSF).

            so dont be in any pipe dream and book a falt b4 too late

            Comment

            • #7

              #7

              Re : Should I buy a Flat in Sec 7578 after 2 years

              I totally agree with mrityunjay.

              There is severe price gap when the flat is booked (pre-launch) , during phased launching of a bigger community (subsequent phases are always costlier than previous ones) and when the flat is completely built.

              Price of the flat is definitely up when building is half built but when flat is ready, price is very high compared to prelaunch rates. The amount you earn as interest in 2 years time (assume safest invest as FD) will always be less than the amount by which flat has gone up.

              And if builders have managed to hold the flats in toughest times (recession is well gone) then they will have no issues in holding them in good times :-).

              Your next assumption, where would people come in 2012? Dude, almost 60% of Junta here lives in rented flats and they are the ones who will rush to book current flats (because current rates are in their reach). I along with my six friends, who were till now living in rented houses (and dreaming only about our own home as rates are so high in Noida) , have booked flats. You will never ever get same rates what you are getting now.

              (Apart from Crossings scare, as no body loves to buy a flat next to dump yard) Even crossings original rates were 1300 - 1400 psft and now they are in range of 1800-2000 psft.

              In shudh hindi, Zameen kahaan hai yaar Noida mien ab (apart from newly coming sectors) ? If you sit idle now, you might have to buy same stuff at more cost. When Indirapuram was being built, it was dust everywhere and now see the rates. Jo ghar ban jaata ahi, woh bik bhi jata hai dear. Aur bane hue ghar ki keemat hamesha booking k time se bahut jyaada hoti hai.

              You are waiting here and people from US are putting money in those sectors to gain the premium later on.

              These were just my 0.02$.


              Thanks,

              Comment

              • #8

                #8

                Re : Should I buy a Flat in Sec 7578 after 2 years

                absolutely correct.A smarter thing would be to invest in something now and later once its ready you vcan either retain it or change it for something you prefer. Howere buying a completed project is a much more expensive proposition.

                Comment

                • #9

                  #9

                  Re : Should I buy a Flat in Sec 7578 after 2 years

                  Guys you all are correct. I have a slight change in thinking which is a result of logic, self experience and wisdom from the forum.

                  Let consider the following standard -
                  Current price is 2800 psf.
                  Basic Price of flat is 25 Lacs. Cash in Hand is 5 Lacs.
                  Possession in 2 years, stretch upto 2.5 years considering standard(acceptable) project delay.

                  Scenario 1 Continue to stay on rent for 2.5 years-
                  Rent is 3 Lacs for 2.5 years at 10K pm.
                  Thats it no further charges.
                  Earn 1 Lac ROI on 5 Lacs cash in hand on Bank FD



                  Scenario 2 Buy flat today
                  Take loan of 20 Lacs,
                  EMI of 2.5 Lacs(principal + interest) per annum amount to 6 Lacs in 30 months.(looks like you are earning for the bank and builder)
                  Lose 1 Lac on Bank FD
                  Continue to pay rent 3 Lacs
                  Pay Service tax and other charges to govt 50K
                  Pay registration charges-2 Lacs(u do not get loan on this)

                  Total cost is now 6+1+3+.5+2=12.5 Lacs

                  The cost of 25 Lacs flat today is around 38 Lacs after 2.5 years.

                  Now assuming historical figures, land appreciates to 4300-4500 after 2.5 years(this is based on pure speculation and risk but should be possible), intrinsic value of flat becomes ~40 Lacs.

                  Conclusion -what do u earn or lose after 2.5 years is just bank interest on your FD. yes in addition you get a house as well but you can always get that after 2.5 years without loosing much
                  Brother why do u want to live next 10 years of your life in bank loan misery . enjoy your life keep cash with yourself and leave headaches to builder and bank.

                  Another scenario-If u have Cash in hand, buy on Flexi/Tranche payment by taking 10% discount on BSP, u get at a price of ~2520 psf and pay as construction goes. (No loan from bank).
                  Here u make a saving/profit of ~35%(price benefit + appreciation) in 2.5 years which is substantial.

                  I like the way Buzz is thinking
                  MM

                  Comment

                  • #10

                    #10

                    Re : Should I buy a Flat in Sec 7578 after 2 years

                    Dear Munish
                    You just got the point. This is exactly where both arguments turn equal. But with the 'buy later approach' one can always choose the best location and the best apartment/flat. Whatever higher price one has to pay will be negated thus.
                    Mritunjay and Anuj, no offences, but still in Sec 62, you can have ready to move-in flats at approx Rs.4000 psf. Even someone in Antriksh told that they quote rates of Rs.5000 psf only to negotiate it to lower amounts.
                    Dont consider the rate difference, as it will vanish when approx 2 lakhs new flats (including 75-78, 119, NExtn, 137, 93 etc) come up. They will be always available below Rs.3500 and will also lead to lowering of rates of flats in other developed sectors.
                    Its Demand Vs Supply factor which control RE and we all know that while demand might follow a linear increase, supply is going to be exponential

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X