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Right Avenue for Investment - Urgent

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Right Avenue for Investment - Urgent

Last updated: July 27 2008
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  • Right Avenue for Investment - Urgent

    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. 4 lakhs to 10 lakhs on the site location of the villas. The total cost of the villa shall come to be somewhere aroung 32 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,
    Last edited July 27 2008, 01:58 PM.
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