Hello,

I am 58 years old and I have just retired from my service. I have some money and was thinking on investing some money in property preferably plot. I have seen 3 possible properties.

1. Greater Noida - Block Delta 2 - 120 sq.m./200 sq.m. plots - cost Rs. 27000 to 28000 per sq.m. (on resale). Lots of construction happening in and around sector Delta 2 and a mini connaught place in also being built for which the construction work has already started. The problem is you cant take the plot in Greater Noida and leave it. You need to do the construction and take a completion certificate from the government. Add another cost of approx 4 lakhs for the construction. The total cost for a 120 sq.m. plot shall come to somewhere around 35 lakhs + 4 lakhs = 39 lakhs.

2. Faridabad - BPTP plots in sector 85/86. Although all the original allotments are gone but whatever are available only on resale. Plots are available in the range of 250 sq.yards (gaj), 300 gaj, 500 gaj and 1000 gaj. The price is somewhere in between 17000 to 18000 per sq.yard (gaj).
The proposed Delhi Agra expressway shall be connected to this land and apart from BPTP lots of other developers have started construction in close vicinity. Omaxe, Piyush, Puri Constructions, PRS etc. The cost of a 250 sq. yard plot shall come to be somewhere ariound 50 lakhs.

3. Sonipat - Parsvanath and Omaxe are building their complexes in Sonipat. Sample villas are fantastically built. 194 sq. yards (gaj) villas are available for sale (only resale, no original allotment). This property is available for approx. 14000 per sq.yard (gaj) + a premium of approx Rs. 12 lakhs to 20 lakhs on the site location of the villas. The total cost of the villa shall come to be somewhere aroung 40 lakhs.

I wanted some advise from the experts here, which property shall be best to invest at this time so that even if I could sell it off after few years I could make some money for my retirement.

Please reply urgently.

Thanks a ton.

Regards,
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  • Hi,

    A safe investment would be a plot or a built up flat. However, it will also depend upon the amount you want to invest.

    You can also explore Ghaziabad/Indirapuram as another option.

    If you don't want to put in all your capital at a single go, you can opt for construction linked schemes.

    If you have explored any other areas in NCR, please let me know, I'm also on the look out.

    Regards
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  • The best time is to invest in Noida sec2 scheme..still you have your idea to invest where you find the thnings best
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  • Dear friend,

    Better keep your retirement cash in good FD at about 10% for the next 1 year or so unless you are in your second job with a good salary in your second innings. Invest in RE after an year or so, the money you can spare to put in as investment duly considering the minimum cash you need every month to keep going with the running of the family, of course debt free.

    ks2071746
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  • since you are 58 and retired you should look for properties which you can visit atleast twice weekly as landgrabbing is prevalent.i would suggest you buy the villas and rent it out to working people who would invariably be relocated and will vacate eventually. at your age safety is of the utmost importance.BTW I am not aware of the rates there and not suggesting them as good buys.
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  • Dear friend,

    But Villas will not fetch good rent from working people?

    ks2071746
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  • I would suggest Him To invest their money in flat & apartment in Noida, in resale he canmake money, in short period of time.
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  • completed house in grater noida

    u can buy completed house in sector alha p3 ,delta with in 40 lack
    and also can get 8000 to 10000 rs as rental income. i know some dealer they can provide completed house(120 meter(100 meter in alpha)) in 40 lack
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  • Buddy, boeing777 left this place 2 years ago, leaving this dead thread behind.

    Originally Posted by rajesh81
    u can buy completed house in sector alha p3 ,delta with in 40 lack
    and also can get 8000 to 10000 rs as rental income. i know some dealer they can provide completed house(120 meter(100 meter in alpha)) in 40 lack
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  • Originally Posted by ajit11
    I would suggest Him To invest their money in flat & apartment in Noida, in resale he canmake money, in short period of time.

    Let me Guess NRI City :P

    Ajit bhai yeah to dekh lo ki thread kis zamane ka hai
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  • Originally Posted by Venkytalks
    Buddy, boeing777 left this place 2 years ago, leaving this dead thread behind.



    No one seems to noticing it !!!!
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  • includes u :)
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  • Originally Posted by ajit11
    I would suggest Him To invest their money in flat & apartment in Noida, in resale he canmake money, in short period of time.



    Yes, I would also suggest him to stay away and keep his retirement money saved for the rainy part of his life./

    Don't go for bank FD as you might loose them in case of a bank run.

    Better go for RBI's Senior Citizen Savings Scheme 2004 which is garunteed by RBI and all nationalize bank which support PPF will take deposit on behalf of the RBI.

    You will have to run behind the bank as bank don't get anything for it... but it is worth it (9% interest) with absolute garuntee from RBI/Govt. you can invest till 15 Lakh from your retirement benefits.

    Don't get fooled by the scheme of special interest given by banks on FD for senior citizens those are nothing but normal bank FD and as risky as normal bank FD. If the bank goes down, so will the FD..


    Also, go for post office's monthly income plan which gives 9% annual interest you will easily get 30,000 per month with safety.

    for your own sake avoid risky investments like real estate to save your life's savings.
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