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What kind of appreciation can investing in redeveloped property fetch? - Property Hotline
Posted
January 10, 2017
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37
January 10, 2017
37
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2:57Now PlayingExpert: Jayashree Kurup, Head- Research & Content, Magicbricks.com
Q: I have booked a 3 BHK apartment for Rs 1.78 crore in Charkop, Kandivali. This is an SRA project. I have already paid 40% down-payment. There is another upcoming project, which is not a high-end apartment, but I chose the first one as they were offering better amenities. I booked the apartment in November and possession is around end of 2017. Please tell me what kind of appreciation can I expect in the next few years?
A: You can expect a significant appreciation from the price you have bought in when the house is redeveloped. That is the reason people prefer redeveloped properties. After it is complete, you will again have two options -- either exit the property if you don’t want to stay in or hold on to it for a longer period.
I would advise to go for the latter. In properties, it is generally notices that once the occupancy goes up, that’s the time you will actually get good appreciation.
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