Have property prices in Tier I cities peaked?
Live chat with users hosted by Mr Aditya Verma, CEO, Makaan.com on Moneycontrol.com. Please have a look at the chat transcipt below -
Q: I want invest some amount in Delhi NCR, so guide me for the same?
A: In the NCR area you can look at Noida Expressway, Yamuna Expressway, Sector 68 Gurgaon, Golf Course extension Road Gurgaon, Shalimar Gardens Ghaziabad. These places have given good returns in the past and are likely to do so in future. You can also log on to pricetrands.makaan.com to check price movement. Cheers
Q: What is the expected capital appreciation expected in locations like kharghar in mumbai?
A: Khargar has given an appreciation of approximately 8% over the last 12 months. Hope this helps. You can check prices trends of other areas in Mumbai on pricetrends at Makaan.com
Q: What is the prospect of buying property in Pune. Will it appreciate well in future and which areas can I consider?
A: Property prices in Pune city have appreciated by around 2% in the past 12 months. However, there are areas that have appreciated smartly including Wagholi (17%), Pimpri Saudagar (10%), Kharadi (9%)and Wakad (8%). You can consider these as per your preference.
Q: Which sector in Noida is good for self use? My budget is 40 Lakhs for 2 bhk.
A: Most upcoming areas in Noida are available at a psf rate ranging from INR 3000/- to 6000/-. For a budget of 40 lac you are advised to look at Noida expressway or Yamuna Expressway or Sectors 143, 77, 168 etc. Hope this helps.
Q: which is the best affordable housing project current ongoing in kolkata within a budget of 25 lakhs ?
A: As a policy we do not comment on any specific project or developer. However, in Kolkata you can look at areas like EM Bypass, Barasat, Behala etc. Cheers and all the best.
Q: What is the future of prices in East Delhi localities like I.P. Extention?
A: The going rate in I.P. Extension is in the range of 10,500 to 13,0000 psf. The prices in this area has remained the same over the past 12 months. To track property prices in any area you can log on to pricetrends.
Q: Why vastu is important in India where as in the western world Vastu is not followed still they are far more progressed than us?
A: I feel it is an individual choice and driven by culture and belief systems in a society. It is not good or bad. One should respect people who follow them and dis-regard if you do not want to. It is like choosing between non-veg or veg. There are good and bad reasoning`s on both sides.
Q: Can you please suggest some good area for property investment nearby mumbai in budget range of Rs.15 to 20 lakh?
A: Budget of 15 to 20 lac for a property near Mumbai is small. If I take a psf rate of min 4500/- you are looking at areas like New Panvel, Taloja, Ulwe etc. Sorry if I dis-appointed.
Q: I want to invest in resedental property in Jaipur. For plot, my budget is 17 lacs and for flat 30lacs, because my company provided home loan on 7% interest rate.so which is best plot or flat? which area prefferd? time horizon 10years.
A: For budget of 15-17 lac you can look at a PLOT along the upcoming Ajmer Road. The psf rate there is 2600 - 2800/- and it can give you an appreciation of 6-8% per annum. Since you are raising loan at 7% yourself, you will have to do more study and identify areas or projects that will give you >10% returns.