no..this is not abt my liking the series by the same name on AXN...(offcourse its fantastic.. and 1 of the best medical series ive ever seen..apart from scrubs :))
but this is in reference to my hunt, of late, to find a suitable investment in bangalore's real estate..
first up, there are a multitude of choices, unlike mumbai. Here a budget of 50L does give you a lot of options.
(In mumbai, its either dahisar or beyond.. or a shack in dharavi with this budget. And offcourse thats AFTER the agent/builder laughs uncontrollably for an hr after you tell him this is your budget.)
1st option: Buy something for my personal use. a decent 2 BHK in a decent locality. pros:the rent i save will go towards paying off part of the EMI AND at the end of 15 odd yrs.. i will be the proud owner of an apartment in bangalore.ALso the interest i pay on account of the home loan will save some of the hefty tax i pay annually.
cons: personal use involves further expenditure to make the place my home.. and in the event of my shifting base to another city in future, will have been a waste of whatever i spend on the flat.
2nd option: buy something i can lease out.
pros: since its not for personal use, the possible locations for such an investment increase substantially..thus offering a much wider range of options. also the rent i earn off the apartment, will go towards paying off part of the EMI and my own rent.
cons: in case i do decide to settle in bangalore, i might have to again hunt for a better apartment IN the area i would like to live in.
3rd option: invest in land on the outskirts of bangalore. the area around the new airport is still quite cheap and affordable.
pros: in a best case scenario, buying an acre of land at under 150rs/sq.ft...and hold onto the land for 5-10 yrs. and later (looking at statistics for the region) sell it off for atleast 500% profits...
cons:investing in land is always a risk. if the region misses out on the bus to development, and somehow ends up being overlooked in a possible real estate boom in future.. the value of the land will remain locked forever. Also, considering this being my first investment, its inherently too risky to park all "eggs in 1 basket".
:))
4th option: tie up with friends/relatives and invest in commercial property. and then lease it out.
pros: joint investment:shared risks.handsome returns.
cons: joint investment:shared profits. unwise choice for a first investment. atleast for a newbie like me.
at the end of the day, my "suitable indian groom" instincts tell me.. a house is a priority.. get myself an apartment.
and so for now, the search continues..
:((
Subscribe to:
Post Comments (Atom)
8 comments:
With a 50lac budget you can pick an awesome/decent flat in the western suburbs - malad to Santacruz, FYI :)
wow..mebbe my info is outdated then..
my sources in mumbai tell me 50L is not enough for a 2bhk upto malad..
santacruz is def out of the question..
but then again.. since im in blr for ovr a yr now.. i might be out of touch with real estate prices back home..
Yes you are misinformed i'd say Mr.Nair :) Lemme know if u have another 50lacs to spare, we can find you a nice place to invest in Bombay too ;)
50L to spare?? hehe.. my dear anonymous friend.. i aint no birla/tata/mallya..
but if u can find me some interesting options in mumbai within that budget.. wow..i owe u one!
i still havent made up my mind abt blr yet.. so mumbai is still open!
Sure, shoot me your number or an email id and i'll have some people i know call ya and give you options.. I'm sure you can make a good investment with that 50lacs of yours :)
ahaa!! and finally i discover who VM is .. had a sneaky suspicion it was you all along!
hope ur dad has not been reading the blog too.. some of the stuff in here might be considered inappropriate by him!
:))
and finally 1 last thing.. why is it that you keep playing the same song from "swades" all the time????
:P
Post a Comment