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Cash Crisis: Have property rates come down by 30 - 50%?- property hotline
Posted
December 20, 2016
Views
180
December 20, 2016
180
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4:55Now PlayingExpert: Jayashree Kurup, Head of Content & Research at Magicbricks.com
Question: I own an open land in heart of the Vijayawada City near Benz Circle behind Eenadu office which is of 750 square yards. Before demonetisation, it was valued at Rs 1 lakh per square yard. Then, I couldn't liquidate. Now, everyone is saying that it would have reduced to 30-50% of the rate to 50 or 60 thousand per square yard.
Answer: Plots near Benz Circle are sized upto 100 – 300 sq. yd. Average rate in Patamata is Rs 80,000 per sq. yd. Average value ranges from Rs 10 – Rs 45 lakh i.e. Rs 7000 – Rs 22,500 per sq. yd. Freehold properties are avaible. If you get a good buy you can liquidate via white money i.e. cheque.
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