New Delhi As banks get stringent on home loans, with soaring interest rates and higher EMIs, property prices are beginning to climb up. In the National Capital Region though areas like Faridabad, Gurgaon and Ghaziabad are still within reach of the low-budget buyers.
Shobhit Agarwal – President, Capital Markets & Investment sales, and Deepak Sankhye – Manager, Capital Markets & Investment Sales, LaSalle Meghraj answer your queries on property deals and real estate investment.
I have a budget of around Rs 20 lakh. I would like to purchase a 2 BHK flat in and around Delhi. Which are the better locations in this budget, where future appreciations are high? It should not be too far from Gurgaon or Noida as I work in Noida and my brother works in Gurgaon. I want the house within Delhi. Sanjay
It is a good time to invest in Faridabad, which now features on the Government’s priority list for infrastructural enhancement after Gurgaon. Rates are bound to go up soon and on a sustained basis.
Buying a flat from HUDA represents a safe investment because of the assurance of the property’s legal status. Moreover, Faridabad is really the only feasible destination for small ticket investment, since the Delhi NCR region is completely out of reach for these. Your minimum entry ticket would be around Rs 30-35 lakh.
I have Rs 5 lakh that I want to invest in land. Please suggest where I should invest – my preferences are Haridwar, Dehradun, Faridabad, Bhiwadi and Kundli. Where can I get land (at least 100 SQY.) with my cash?
Deepender Singh
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We would suggest Dehradun, which still has plot options for smaller investors. There is considerable demand for flats at Chatrata Road, Mussoorie Bypass, Sahastra Road and Dhara. While the entry level for residential property purchase starts at Rs 12-15 lakh, you can buy a plot on Mussoorie Bypass as a suitable investment option. The current rates begin at Rs 3500/square yard.
I have Rs 30-35 lakh to invest in property for investment purposes. Can you tell me which is the right place in Delhi & NCR, where I can get good appreciation in near future with least risk?
For appreciation, Greater Noida and Faridabad are the best options. However, you can also consider Dwarka. The Dwarka branch of the Metro is now functional. Though Dwarka was always a well-planned satellite town with all the right ingredients, its property market did not take off due to issues of accessibility to the CBD (Connaught Place). Now that the Metro places this vital locality in Dwarka’s reach, the property market there is ready for takeoff – this translates into higher appreciation.
I hold 500 square yards plot at Malakpet, Hyderabad, and wish to sell, as current market price is Rs 25000 per yard. I wish to invest this amount in commercial property for monthly rental income. Since I am deaf from childhood and not capable of running business. Should I sell or hold? This plot is giving 500% return in eight years.
Hyderabad’s residential market might see a correction in the next few months. There are chances that the price of plotted land will also be affected. If you have a ready investment option in which to put the funds generated by the sale of your plot (it should fetch around Rs 1.25 crore) then you can certainly proceed. If you decide to hold on to your plot, be advised that the rate of appreciation will not be as steep as before.
Should you decide to buy into a commercial property, the preferred commercial destinations of Madhapur and Gachibowli may be out of reach for your budget. You could consider Uppal, where IT and retail are on the increase, or Secunderabad.
I wanted to know that is this the right time to invest in Hyderabad in projects like aliens group at Tellapur, Miyapur etc in 2 bedroom flat?
Devesh
You may wish to wait and watch how the real estate market and Hyderabad reacts to an anticipated correction. Two months down the line would be a far better time to discuss cost with developers of various projects.
My wife has purchased property in her name with my money. I wish to gift this property to her. If there is any rental income on this property in future, will it be clubbed with my income, or her income? She does stitching work for a boutique and files her income tax return.
Also kindly clarify if I gift some money to my wife or daughter and they invest it in business, etc. with whose income the profit/income earned by them on that investment would be clubbed, i.e. with my income or their individual incomes? Both file their annual returns. Many thanks for your time.
Since the property is purchased out of the husband’s money, it is the husband who is the actual owner of the property. Via proper documentation, a husband can gift a property to his wife. Even after this gifting, rental income will be treated as the husband’s income. Similarly, after gifting the money to your wife, any profit from such money will be treated as your income.
Source:moneycontrol.com
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