Buying a House in India Just as a Second Home?
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suruchi
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Started 13 years ago
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- I’m highly elated at the prospects of real estate in India.:)
But, I want to play the safe game… I hope it’s not a bubble that would burst with time.CommentQuote0Flag - Thumbs up The boom is here to stay....
You seem to more confused than concerned, my friend!
If you can feel the boom in Indian realty from thousands of miles, I would say the situation here is maddening. The skylines of the cities are changing irrespective of their size and location.….
The quality of construction offered by the developers now are becoming better & better as the competition to provide the best and survive in the booming market has become more anticipated.
And the winner in this war of survival……, of course, the buyers.:)CommentQuote1Flag - Visualization…..
That was a brilliant piece of visualization…..
Heard that small unknown cities like Ghaziabad have become the most sought after cities? 5 years back when I left India, they were nowhere on the real estate map of India.CommentQuote1Flag - Yep. Read it somewhere…. I do not remember exactly….:(
It was something like; Ghaziabad, India is amongst the 10 hottest cities in the world.CommentQuote1Flag - Great news!
Wow! That’s great! :D
I’m from Durban and my hometown is in Ghaziabad (and feeling proud to be so!). But can’t believe. Ghaziabad… & among 10 hottest cities in the world.
Can anybody give me the news details……CommentQuote0Flag - Ghaziabad - to be the future real estate destination
Congrats buddy! You must be proud to have that tag attached to you now. Well, this is the news for you and many other Ghaziabad NRIs alike.GHAZIABAD – ONE OF THE 10 MOST DYNAMIC CITIES IN THE WORLD
In old Ghaziabad—20 kilometers outside New Delhi in the north Indian state of Uttar Pradesh—ancient green-and-white three-wheeled Tempos that double as buses career alongside a tangle of bicycle rickshaws, buffalo-drawn wagons and pushcarts. Tiny, no-name manufacturers advertise rubber gaskets, gears, machine tools. You'd never guess Ghaziabad is India's hottest city.
But thanks to skyrocketing real-estate prices in the capital, Ghaziabad is emerging as the next popular address for Delhi-bound commuters. In residential pockets on the outskirts like Indirapuram, posh new developments are sold out. The largest developer, Shipra Estate Ltd., has built 7,000 two-, three- and four-bedroom flats, all of which are already occupied, says Vijay Sundar Raj, manager of sales and marketing. Many of the residents commute to IT jobs in neighboring Noida and Delhi.
Strategically located on the old Grand Trunk Road from Bangladesh to Afghanistan, Ghaziabad was targeted by the state for industrial development in the 1980s. Today the city is home to more than 14,000 small-scale industrial units and larger plants run by giants like Coca-Cola and the International Tobacco Co., which still provide most of the jobs in Ghaziabad proper. For all the new luxury high rises, Ghaziabad today is one of the most heavily industrialized cities in Uttar Pradesh.
With its excellent highway connections to Noida and Delhi, Ghaziabad is starting to reap the benefits. Though it still doesn't have the cachet of Noida, it boasts cheaper land, and the completion this summer of the controversial Tehri Dam should help prevent frequent water and electricity shortages. None too soon. The city is already building a village to host the 2010 Commonwealth Games. And plans for both a new expressway and a second Delhi international airport on the east side of the capital should help put the entire region, Ghaziabad included, on the global map.
Source: NewsweekCommentQuote0Flag - Thanks mate……you made my day.:)
I feel like investing in Ghaziabad…. Maybe next time when I visit home….CommentQuote0Flag - Question A bit apprehensive
But I am a bit apprehensive about the assessment of the news.:(
Does Ghaziabad have more potential than cities like Bangalore and Hyderabad? As IT hotspots of India and the government of India’s initiative in IT and ITES sector, marked realty investments is said to have come up in cities like Bangalore.
However, they figure nowhere in the said report. Don't you think the ground real(i)ty is different from projected reports?
Though my intention is not to justify the credentials of the report, but it surely need to be discussed.....CommentQuote0Flag - Ghaziabad with so much potential...
I just sold out my property at ghaziabad and moved to gurgaon feeling the real estate boom in gurgaon and all the beautiful malls and the DLF and Unitech architechtural alacrity.... Now going throught the post made me confused about my decission....
I feel sorry why i didn't consult any real estate agent for this...
i was thinking the agent will cost me more....:(CommentQuote0Flag - I still doubt whether Ghazibad is well versed with amenities, infrastructure and good law & order. Being far away from India, I manage to listen news about happenings in India and Ghaziabad still lacks the infrastructure and the crime in the city has not stopped itself from mushrooming.....in fact city like Gurgaon is also not prepared to bear the load of so much influx of offices, malls, etc.CommentQuote0Flag
- I am located in USA and very much interested in investing in India more than buying a property but when an investment in the form of an immovable property..whats the return??I need to be clear whether Indian government's norms allow me to take back the whole return from my investment??
thanks if anyone can help me out here..
Reply With QuoteCommentQuote0Flag - Property Buying in India for NRI's
There has never been a better time for NRI's to buy realty in india, than now
Not only have construction standards up the ante, bigger complexes and layouts today give the same ambience and lifestyle homes that most of the developed countries worldwide.
And if you look at the fundamentals ruling the realty market, India is an emerging blue chip if we can choose to call it so.
There is a huge land bank today which can sustain progressive and planned development in the next 10 - 12 years, though most of it is in the extended suburbs in the big cities and also in the heart of Tier 2 and Tier 3 cities.
The best bet for NRI's would be to buy residential and commercial office spaces if they are looking for a long term perspective. If you have the time and the means to monitor your assets, land accquistions and retail space can be your option, though they are high risk and high returns portfolio.
It would help if you have a diligent Realtor who can act as your portfolio manager and advice you on your long term strategies. Also be sure to include a Chartered Accountant and Lawyer on your realty team, if you are looking at long term investments and want to play it safe. The fees you pay them would not only ensure the safety of your investments, but also sometimes provide you with the timely exit options.CommentQuote0Flag - need clearification....
Thanks friend for the inviting piece of advise.:)
But please can you make it clear what you mean by
If you have the time and the means to monitor your assets, land accquistions and retail space can be your option, though they are high risk and high returns portfolio.
As I'm planning for investment in India, I hope you can help me with this.
Thanks
RohitCommentQuote1Flag - High Risks
In India, land legislations are not fool proof and many land deals are mired in title litigations. Land deals are best left to the builders who are well versed with the legalities. Also compounding the problem is the issue of land grabbing and adverse possesion by unauthorised people. So its very essential that you have someone to monitor your land asset if you happen to invest in one.
In retail property, rates fluctuate a lot and you need to be tuned in to the pulse of the market to ensure that you get the best returns on your investment
The safest bet for NRI's are Residential properties.
Apartments booked at the initial stage can give good capital appreciation and there after a steady rental income once the apartment is ready and rented out
Research over last 7 yrs prices showed that average capital appreciation rates have been in the range of 20-25%
DO your homework well before you put in your hard earned dollars, euros n pounds
Happy Investing
RamCommentQuote0Flag - Originally Posted by varunYep. Read it somewhere…. I do not remember exactly….:(
It was something like; Ghaziabad, India is amongst the 10 hottest cities in the world.
Check the official site. They have added recent pics of excavation.
Sent from my Nexus 4 using Tapatalk 4 BetaCommentQuote0Flag
I am an owner or it belongs to family of following properties which we are interested in selling.
1) 5 BHK Villa in R S Puram, Coimbatore, Tamilnadu
2) 3 BHK apartment in Purva Swanlake, Chennai
3) Commercial complex getting rent near X-Cut Road, Coimbatore
If anybody interested kindly mail to blorekhan@gmail.com