Should we hold/sell a property over delayed possession?- Property Hotline
August 30, 2016
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4:43Now PlayingShould we hold/sell a property over delayed possession?- Property Hotline
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as posted by the channelExpert: Amit Goenka, MD & CEO, Nisus Finance.
Question: I bought a flat in BPTP's Spacio project in Gurgaon in the year 2013. I bought it for Rs4,500/ sq. ft. for about Rs55 lakhs. The rates have to come down to Rs4,200/sq. ft. The builder has delayed possession. He is telling me I will get possession in July 2018. Should I hold it or sell it?
Answer: Sector-37D is big township comprising of approx 400 acre land. It is supposed to have school, hospital, shopping malls, and commercial projects. It is about 10 minutes from the Delhi International airport and 30 minutes from Connaught Place. So while it has a good location, there are anticipated challenges in delivery and track record of the developer which is why prices are being quoted lower. It may be better to book a loss and sell in favour of better options.
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