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Advice on investing in NCR / Gurgaon

By Unregistered Visitors, Section Ask Questions
Posted on Mon Jan 25, 2010 at 09:02:17 PM EST

Hello

I'm an NRI and would like to invest approx 90 lakhs. Though my family owns a residence in Delhi, I'm new to the real estate market in NCR (and in India in general). Having heard about appreciation potential in NCR has generated this interest in investment

a) Is investment in NCR region really a good idea and is the timing right

b) Which area is better suited for investment - Gurgaon, NOIDA, G Noida or Faridabad. For example has Gurgaon pretty much peaked with first and second level appreciation in most areas.

c) Would a plot be better versus an apartment. How about commercial space

As I mentioned, this is purely for the purposes of investment with no intent of moving into (or using) the property at a later date. I don't have a time horizon in mind but as long as the property appreciates I will not be in a hurry to liquidate.

Thanks

< What Is the Current Status of DLF Capital Greens, Delhi | Government Wants A Single Tax Slab Under GST >

Advice on investing in NCR / Gurgaon | 18 comments (18 topical, 0 hidden) | Post A Comment

Stay Away from Real Estate (none / 0) (#18)
by Unregistered Visitors on Sun Feb 14, 2010 at 08:28:09 AM EST

In my opinion it is likely real estate prices will see a steep fall may be to the tune of 50%, inflation adjusted for sure. The reason the whole growth mania is gone in spite of artificial pumping of easy money by printing and printing notes. In future to pay the bills people will have to spend a lot more and the cycle will continue, the government has to print more even to pay the salaries of millions of its employees. Even if the prices rise from here the money supply is too much and the result will be currency depreciation rather than appreciation. Proof: Indian rupee fell against US Dollar as compared to other major currencies during this financial meltdown.

[ Reply to This ]

: Agree ... (none / 0) (#19)
by Unregistered Visitors on Mon Feb 15, 2010 at 10:21:06 PM EST

You seems to be correct but Dallas do not understand as they are busy parroting Metro, investment, growth etc to justify the increase. But they do not realize that prices are way high for even people who earn well by Indian standard say Rs 1 lakh a month.

[ Parent | Reply to This ]

Poor NRI ! (none / 0) (#16)
by Unregistered Visitors on Thu Feb 04, 2010 at 10:11:03 AM EST

I feel sorry for this poor NRI who is about to lose 80-90 lacs rupees.

Those who are comparing floor area v. super area must realize that the factor only comes into force when someone gets possession. This NRI is not going to get possession from a builder. Will he?

The land factor is not applicable as someone will build a place of worship on his land, if he buys one. It will be impossible for him to get his land vacated.

The other option is ready-to-move-in. With his limited knowledge of Gurgaon Reality, evident by his query, the chance for him getting a clear title is very slim.

Best of luck NRI.

Welcome to the club.

[ Reply to This ]

90 Lacs for 3 BR? Are you tracking Indian market (none / 0) (#15)
by luckyindialucky on Wed Feb 03, 2010 at 03:42:19 PM EST

Dear Friend

I hope you meant depreciation not appreciation. 2010 onwards there is going to be huge supply of flats and comparatively less demand in India. You may refer few leading Indian newspapers and get the facts.Also you might be aware the cyclic nature of market and it can't continue to work like this and hot ballon is almost burst.

All factors have already been accounted for which can trigger the Indian real estate:

Indian IT (BPOs loosing its shine and moving to Philippines and other cheaper countries)
IT industry has saturated and days are gone for double digit growth
Builders/Dallas are singing song of Metro since long and already prices are accounted for
Airport - same story as 3

Anyway best wishes! I hope your money becomes 2 crore in 3 years!

[ Reply to This ]

: Ansal Palam Vihar (none / 0) (#17)
by Unregistered Visitors on Tue Feb 09, 2010 at 05:37:29 PM EST

Ansal Palam Vihar is a nice area to invest in. Due to Metro connectivity in the next 3 years thru the IGI route, this area will be gold mine as prices are currently much lower than DLF or Sushant Lok.
Just my humble opinion....good luck whatever you decide to buy.

[ Parent | Reply to This ]

Buy Land (none / 0) (#7)
by Unregistered Visitors on Mon Feb 01, 2010 at 12:00:32 AM EST

For maximum reap on your investment, I would suggest that you buy a plot in Sec-45 Gurgaon.
Reasons:

Proximity to Metro, City Centre (Sec-29), Institutional Sector (Sec-44)
Affordable
Nearby Taj's 5 star hotel, Fortis Hospital, Unitech's Cyberpark

[ Reply to This ]

: Sector 40,45,46,47,31,33 (none / 0) (#8)
by Unregistered Visitors on Mon Feb 01, 2010 at 01:08:20 AM EST

Sector 40,45,46,47,31,33 are the best for appreciation in future.
According to Saturday (30Jan) Article in Times Property, these areas will see 25-30% appreciation by June once the metro starts.
Plots will give better returns than flats.

[ Parent | Reply to This ]

Invest in IREO Uptown (none / 0) (#6)
by Unregistered Visitors on Sun Jan 31, 2010 at 10:01:06 PM EST

Buy a 3BR or 4BR in Ireo Uptown.

[ Reply to This ]

Analysis of super vs carpet of top developers(GGN) (none / 0) (#4)
by xs2gaurav on Sun Jan 31, 2010 at 09:38:26 AM EST

A small Analysis which says the bigger is not always the best!

BPTP park life 2293
Super Area    2293
Carpet Area    1535.78
wastage    757.22
wastage %    33%

DLF park place 2282
super area 2282
Carpet Area    1434.97
wastage    847.03
wastage %    37%

Tata Raisina 2319
super area    2319
Carpet Area    1604.99
wastage    714.01
wastage %    31%

Orchid Petals 2337
super area    2337
Carpet Area    1591.3
wastage    745.7
wastage %    32%

Unitech Escape 2066
super area    2066
Carpet Area    1279
wastage    787
wastage %    38%

Anonymus
[ Reply to This ]

Gurgaon Investing (none / 0) (#1)
by Unregistered Visitors on Tue Jan 26, 2010 at 04:44:43 PM EST

Gurgaon would always be better than rest of places. Noida -because of its crime rate & Faridbad due to its very poor infrastructure as compared to other 2 are always going to remain 2nd & 3rd ,untill & unless some miracle happens.

Next wave in GGN wud be Metro connectivity, further to that is many new compaies still coming to GGN.

Best places as per my opinion :Golf Course Extension road, Sohna Road. Here you can get a good flat within 90 lacs & scope of appreciation is also high.Many new malls & commercial spaces under construction ,future metro connectivity, access to highway NH8, 6 laning of Sikandarpur to Rajiv Chownk Road are few of the reasons of above logic.

[ Reply to This ]

Property in GGN the Best (none / 0) (#3)
by Unregistered Visitors on Thu Jan 28, 2010 at 07:23:45 PM EST

I think the best option for you would be to invest in Ggn. Let me list the reasons:

Noida

Only one mall (Great India Place) catering to entire Noida. This mall is way over crowded on weekends.
Though standard of living (cost of things) is lower than GGN as there are old markets, but Noida is huge and scattered
Rates are very high and its a mix of old and new

Gurgaon

Its totally new and being built around lines of new towns around the world
Proximity to airport
Nice gentry
Great companies and scy scrapers

I have a flat in GGN at Sohna Road which is 3 bed room at Orchid Petals 1800 sq ft. Can sell at 90 lakhs if intersted. Chers.

[ Parent | Reply to This ]

Super vs carpet area for top gurgaon builders (none / 0) (#5)
by xs2gaurav on Sun Jan 31, 2010 at 09:56:03 AM EST

A small Analysis which might help for Gurgaon for close to your budget

BPTP park life 2293 Ready to move in
Super Area    2293
Carpet Area    1535.78
wastage    757.22
wastage %    33%

DLF park place 2282 budget above 1 cr
super area 2282
Carpet Area    1434.97
wastage    847.03
wastage %    37%

Tata Raisina 2319    possession after 3 months
super area    2319
Carpet Area    1604.99
wastage    714.01
wastage %    31%

Orchid Petals 2337    Ready to move in
super area    2337
Carpet Area    1591.3
wastage    745.7

Anonymus
[ Parent | Reply to This ]

Super vs carpet area (none / 0) (#11)
by Unregistered Visitors on Tue Feb 02, 2010 at 08:39:28 AM EST

Thanks for the great analysis. Do your calculations include balconies in carpet area as well?

[ Parent | Reply to This ]

super vs built-up area. (none / 0) (#13)
by Unregistered Visitors on Tue Feb 02, 2010 at 09:38:42 AM EST

As per court judgement, balconies are not part of the built-up area. Only common areas such as passage and lift/stairs area is the part of super area and nothing else. The common areas are normally far too less than the wastage being claimed by these builders. For example, if there are three Apartments of 2300 sq feet on each block and the built-up areas of each indivdual Apartments are only 1500 sq feet and based on this assumption, the total wastage works out to be 2400 sq fee ( 3X800). So, you guys must ensure that the common area in reality is 2400 sq feet, which means that the total common area is more than the size of individual apartment which again is hardly unlikely and virtually unbelievable and if it not, then you have certainly been robbed by the builders and if I were you, I would take the builders to court for cheating. if on the contrary, your wasted area works out to be precisely 2400 sq feet, then the builder is justifiable to charge you for 2300 sq feet in each case.

[ Parent | Reply to This ]

: super vs carpet area (none / 0) (#14)
by xs2gaurav on Wed Feb 03, 2010 at 03:45:32 AM EST

Well this calcuation includes everything , i had taken the measurement of even the area between the rooms which was mentioned clearly in the layout for each one of these 5 apartments, including balconies etc ( All such measurements that are usually mentioned in the layout)I just couldnt paste the whole excel here.. For instance Tata Raisina did not seem like such a gtreat layout Infact the BPTP Park life layout was quite good...It just goes to show that there should be a proper ruling for super area vs carpet area and the wastage i the carpet area should never be more than 25% ideally if all balconies etc are included.

Anonymus
[ Parent | Reply to This ]

Super area Vs Carpet area (none / 0) (#9)
by Unregistered Visitors on Tue Feb 02, 2010 at 02:49:09 AM EST

This is literally a rip-off and the buyers of these projects should ask these builders the following questions, rather than allowing them to make fool of you. You must ask for Credible evidence in support of wasted area and the formula on the basis of which, these builders have arrived at super area.This can be done by you in two ways:-

By seeking relevant information from the planning authority under RTI act or ask for the copy of the original plan from the builders. Hiring an Architect to take all the measurements and if it is proved that you have been short-changed ( a criminal offence), then you can sue these builders for defrauding you. Alternatively, you can even go to E O Wing of Police. Don't just sit and accept what ever is thrown at you, ask for documentary evidences yourselves first before approaching any third party.

[ Parent | Reply to This ]

super vs carpet area (none / 0) (#10)
by xs2gaurav on Tue Feb 02, 2010 at 03:56:26 AM EST

Well I agree and your method does sound good coz the above has been done with the help of whatever has been mentioned on thier websites by multiplying 10*13 = 130 total area of the room etc. but sometimes i wonder if whatever is mentioned on the website is also correct or not. Also is it mentioned anywhere by the company ie super area and carpet area ?

Anonymus
[ Parent | Reply to This ]

: super vs built-up area. (none / 0) (#12)
by Unregistered Visitors on Tue Feb 02, 2010 at 09:18:35 AM EST

The information re super area or the built up area is already there on papers.You know the super area perfectly well and you also know the built-up area perfectly well because it is all there in your agreement i.e measurements of all the rooms. Therefore, the only missing information is about the common areas in between various sizes and if the common area is less than the waste declared by builders, then you have been short changed. The Balconies are not the part of the built-up area as per court definition of super area, the details for which is available in indian express dated 9th Jan. You must calculate the total plot size of your block and if the plot size is smaller than the super area sold to you, then you have certainly been defrauded. For example, if your and your neighbour super area is total 5000 sq feet and you plot size is only 4000 sq feet, then you have certainly been cheated by the builder. The plot size must be compatiable with your super areas and if it not, then you have a very strong case against the builder for fraud and ought to take them to court for fraud/seeking refund with interest.

[ Parent | Reply to This ]

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