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Should I buy a Flat in Sec 7578 after 2 years

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Should I buy a Flat in Sec 7578 after 2 years

Last updated: August 9 2010
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  • #21

    #21

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

    Originally posted by rdwasnik_2009 View Post
    No no Munish, I guess you did not understand my point. When I calculated difference in costs, my assumption is that the 'home buyer' condition is same in both the cases. e.g. if a person who takes a loan today for under-cons flat, I am assuming that the person who will buy flat after 2.5 years will also take loan.
    So this 6L of interest will never get into consideration of difference calculation. Because this interest component is anyways to be paid in any case.

    But as per your post it seems like you wanna say that a person will take 20L loan for 25L flat but if he'll buy after 2.5 years he'll become rich and earn enough to pay cash of 35 to 40L in this period.
    or
    I guess you are calculating the total burden on the person not the difference of cost.

    Raj
    Raj,
    i just realized that we are talking the same thing but putting it across differently
    When i said boss's boss, it was in sarcasm.
    we all agree that it doenst make much difference(burden on buyer) buying now or 2 yrs hence.
    yes if u continue staying on rent (forever)then it sure gives u more liquidity to spend more.... but then house buying can control and check those expenses hence becomes worthwhile.
    yes if u have cash go for purchase.
    crazy spiral.
    Last edited by Munish Malhautra; August 4 2010, 01:05 AM.
    MM

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    • #22

      #22

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

      Originally posted by rdwasnik_2009 View Post
      I agree to Digvijay here. If one is having enough money, he should always go for ready-to-move in flats, mainly because of peace of mind and satisfaction.
      But only reason people go for under-const flat is lack of enough money.

      Raj
      Raj if i have cash i would like to minimize my cost of purchase and that is only if i buy an under constructed house. A person with excess cash is normally an investor as a buyer (like me) is always running short of it
      MM

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      • #23

        #23

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

        Majority of buyers are in age range of 27-35. With my experience I can tell you that if you have debt or some other objective then you tend to save more rahter than keeping cash.

        Suppose you work in private sector and earn 50k per month.
        If you buy flat now, in 3 years or until you get possession you may pay 6 lakhs from your pocket but if you do not buy and just keep making bank FD you may save only 4 lakh.
        Rest 2 lakh you will buy something which might not required.
        It could be buying a new car or a costly while your existing car runs good and your also working well. But if you bought a flat then you might skip these as you have to pay for your flat and your objective will be to keep loan as minimum.
        There are lot more other ways which may give you better return than RE but no surity.
        JP/Unitech lot more other company offering Fd with almost 15% commulative annual return and company FDs are safer than buying flat of these companies.
        So if you have disposable income of 10 lakh buy these and get 1.40 lakh interest every year
        this will atleast cover your 75% to 100% amount of annual rent.

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        • #24

          #24

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

          I understand that this lack of enough cash is the sad part of the story. But I personally feel that one should go for under-const flats. Let me share my experience.
          Back in 2006 some of my relatives were suggesting me to buy a flat in Aditya group, vaibhav khand, IP. rates were around 1800. Some of my friends suggested that there will be enough supply after 3 years 'coz of 1000s of flats coming in IP and don't buy. I didn't and went to B'lore. Last year when I came back, seen a whole new story. IP rates were 3500+ despite recession.
          Same Aditya flats were almost ready (though people got possession on early 2010) and the rates were 4000. I was wondering, where the hell whole supply has gone.
          I would have stayed in my own house if I had purchased at that time.


          Raj

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          • #25

            #25

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

            Originally posted by mrityunjay View Post
            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
            correction - you can easily buy sec 50 and around for 4100-4200

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            • #26

              #26

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

              Originally posted by rdwasnik_2009 View Post
              I understand that this lack of enough cash is the sad part of the story. But I personally feel that one should go for under-const flats. Let me share my experience.
              Back in 2006 some of my relatives were suggesting me to buy a flat in Aditya group, vaibhav khand, IP. rates were around 1800. Some of my friends suggested that there will be enough supply after 3 years 'coz of 1000s of flats coming in IP and don't buy. I didn't and went to B'lore. Last year when I came back, seen a whole new story. IP rates were 3500+ despite recession.
              Same Aditya flats were almost ready (though people got possession on early 2010) and the rates were 4000. I was wondering, where the hell whole supply has gone.
              I would have stayed in my own house if I had purchased at that time.


              Raj
              Raj do u know reasons for that?
              -It was launched at low price 1200-1800 in 2005-06 and was started as affordable housing for middle class
              -Most of the buyers were end users

              Believe me you were lucky. not that i am against IP(i myself have a flat there).....now who wants to buy in IP at 3700-4000 as they can get same in a good locality in Noida.
              The infrastructure is pathetic there? power issues, over crowded, many projects(started in 2006) are still unfinished, invisible green spaces . I would not like to buy a flat for 50+ lacs there, i would prefer to build a villa in Noida in a new sector or a villa upcountry for my life after retirement.

              Only specific need based requirement would lead someone to move there.
              MM

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              • #27

                #27

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

                Every one saying that we will have 1lac or 1.5 lac flats after 4-5 years. But I really doubt this only good projects will complete during this time frame. That would be not more then 50000 flats available after 4-5 years. There would be few projects which will never complete even after 10 years. So price appreciation will always be there for good projects which are going to complete on time with good quality and good location.

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                • #28

                  #28

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

                  Now we have reached to that million dollar question...
                  Who is that good builder and which is that good project where you will have your dream house?
                  Originally posted by Ajay Chauhan View Post
                  Every one saying that we will have 1lac or 1.5 lac flats after 4-5 years. But I really doubt this only good projects will complete during this time frame. That would be not more then 50000 flats available after 4-5 years. There would be few projects which will never complete even after 10 years. So price appreciation will always be there for good projects which are going to complete on time with good quality and good location.

                  Comment

                  • #29

                    #29

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

                    ATS , 3C, logix , Mahgun , Unitech , Gulshan ..
                    You can add to the list
                    Originally posted by sigma1 View Post
                    Now we have reached to that million dollar question...
                    Who is that good builder and which is that good project where you will have your dream house?

                    Comment

                    • #30

                      #30

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

                      Million $ Question... very well said sigma1 ji...
                      Adding to the list of doubts we have "proposed" metro site, "proposed" sports city, "proposed" golf course, "proposed" commercial like atta...

                      Not sure about a good flat, but if one would have made so many "proposes" to a girl, she might have said YES ;-)

                      No offenses (its Friday night)

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