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- Originally Posted by rudyrudyHi
I have a property in Sector 49 (300 square yards - park facing) and I invested alot of money in building the plot. Current market value would be around 3-4 Cr.
I am wondering if the market price for my home will continue to rise in the next 3 years or am I looking at a stagnation or decline in the prices?
Am i better off selling that property and investing in another asset or does the real estate market graph for my property look good from 2013 to 2015?
Sec 49 is not the best of the sectors to be invested in...Long term prices of plots will definitely go up, may not be in the ratio of what one can expect in luxury flats..But land is premium in Noida as theres no land bank left anywhere in Noida...
However, if you intended to hold this for investment purpose and not for primary end use, spending considerable amount on the construction may not have been the best idea...you can consider most of it as sunk cost..
Best of luck!CommentQuote0Flag
- thank you
thanks for your reply prakash.
I was living there for 8 years and then I had to move to Gurgaon for work obligations. However, I see the markets slowing down and am thinking whether it would be a good idea selling the property now and buying another one when the markets are again down (which i think should/could happen from 2013-2014).
what are your views on this? I do not wish to live there again not for the next 10-15 years. should a move this asset to replace with another one which will rise in value more? or should I keep this knowing the market will again in the coming years go up (5-10 years). In essence, is my opportunity cost of keeping this asset higher?CommentQuote0Flag
- You seems to be trying a little to hard to tame the market. do this next year, if this happens then do that and will do that then this will happen. Believe me, its would be worth and could prove counter productive.
Land, that too in NCR, is not be sold. Period.
You never know, in 5-6 years even floor registry be allowed in Nodia. and your plot would become goldmine.
If you sell it to buy land immediately at some better offer then its other thing, otherwise hold on to it and keep it safe.CommentQuote0Flag
thanks for your reply Jai,
My intentions are to sell it when the market is still on, and buy gold/silver from it and when the markets drop, to invest that gold/silver (hopefully worth much more) back into property.
Your point makes sense, that there could be no more land to buy!CommentQuote0Flag