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Should I hold/sell property in Rising City, Chembur?- Property Hotline
Posted
October 24, 2016
Views
850
Likes
3
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October 24, 2016
850
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2:09Now PlayingExpert: Jayashree Kurup, Head Content and Research Magicbricks.com
Question: I booked a property in Rising City, Chembur which is on Ghatkopar Link Road. The property is under-construction and the possession is expected in December 2018. I bought it for Rs.11750/ sq. ft. in 2013. I want to know if I should hold it or sell it.
Answer: Rising City has 1, 2 and 3BHK apartments of 675 - 1803 sq. ft. which cost Rs 90 lakhs and above. Currently, the rate here is Rs 13,000 per sq. ft. onwards. It is a gated township in the heart of Mumbai and less than half an hour from major office locations such as BKC, Parel, Nariman Point, Andheri or Thane. The project also boasts of good connectivity via the Eastern Express Highway, Metro, Monorail etc. The rent for a 2BHK apartment in this area starts from Rs 25,000 per month onwards.
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