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Chat Transcript

Surabhi Arora

Sr. Associate Director , Colliers International

The best deals in the housing market


Questions Answered


guest: I have an investment in Hiranandani Estate Thane. I am planning to buy another 3 BHK. Wanted to know your take on buying in the same property at Rodas. Do you expect prices to significantly move up in next 5 years considering they have been stagnant for last 3 years. Any other good property you suggest ? Budget is 2 crore.

Surabhi Arora: Assuming that you are buying the second property for investment purpose, i suggest to diversify your portfolio in terms of location. You can also consider buying the under construction or newly launched project as they give better return then a mature old property. Considering that the overall transparency is increasing in the market with RERA coming and the overall demonetisation impact has been subsided, i think you can expect decent returns in coming years specially if investing for more than 4-5 years.

guest: Best area to invest in Bhubaneswar for residential segment?

Surabhi Arora: Unfortunately, i do not have much expertise on Bhubneshwar residential market. As a suggestion while investing in residential segment, do look at the infrastructure development and proximity to employment centre in consideration. Generally, the well connected residential area develop faster than the other markets.

guest: Is buying luxary aptt at golf course rd gurgaon is a good buy at this point of time.

Surabhi Arora: Golf course road is emerging as a prime locality within Gurgaon. With the metro getting operational the connectivity of the area has increased multifold. Considering that the market is soft for last one year , it is a good time to buy the apartment on golf course road.

guest: Is it good time to purchase property now. Should I hold for rates to dip

Surabhi Arora: Contrary to the general perception of a significant price correction, the prices are largely stable in most of the market.The emerging markets have seen 5-7% correction case to case basis. I think this is a good time to explore option and go for a investment. However, do not expect speculative gains in the short term. If you are looking for a under construction or new project, check the track record of the developer and the approvals for the project.

guest: Sir my salary is 20000. Give me the road map how to invest in real estate

Surabhi Arora: Recently, the Government has started giving push to affordable housing by providing credit linked subsidy to the first time home buyers. If you are based in NCR, I think you can look to invest in 1BHK apartment in Gurgaon. They range anywhere between 12 to 14 lakh. Beside that you can also look to invest in Noida Extension which is a emerging affordable locality.

beaminamt: What to look at while finalizing house purchase?

Surabhi Arora: Run a quick due diligence on the shortlisted • Approval and licenses i.e. commencement certifcate for work, environmental clearance, approved building plans, allotment letter and development agreement; • List of banks for financing the project; • Quality of previously constructed projects by the same developer; • Developer track record in terms of total square feet developed, market feedback and project delays; • Status of land title with the developer; • Status in terms of whether it was purchased by the developer or he has the development rights; • Blueprints of all of the plans.

guest: I have old 1000 sq ft flat near kashmiri gate stn what can be its valuation

Surabhi Arora: The valuation of the property will depend on a number of factors such as location, floor, condition of the property, carpet area, super built up area etc. Thus, it is difficult to give you any estimate for the same. suggest you to get the valuation done from a authorised valuer.

guest: which areas in bangalore, areas and amounts and time to get a decent return?

Surabhi Arora: In Bengaluru, the areas near employment hubs such as Sarjapur Road, Thanisandra Road and Kanakpura Road are considered as good investment in the range of INR 5000 to 6000 per sq ft for a investment horizon of 3 to 5 years. Beside this you can consider investing locations like Electronic City, Kengeri Mysore Road, Bommanahalli, and Yelahanka in the price band of 4000 to 4500 per sq ft.

guest: what is the future of real estate in comimg year

Surabhi Arora: The robust commercial market indicates the strong fundamentals of the real estate market. New regulations will inevitably lead residential developers to hold new launches to see how the authorities enforce the new rules. This in turn will slowly address the issue of high level of unsold inventory. Thus, the residential market is likely to pick up in near term.
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