Apartment buying suggestion

[killerspin]

Manikonda area lo new 2BHK apartment 60L ki undi friend valladi..seems 4-5 guys pooled money and built apartments. Maa vadiki some 4 flats vachinayanta. He is quoting 60L for one 2BHK flat. Rent around 20k vastundi in same apartments. Pedda master plan community em kadu. some 50 flats unnayi anthe. Aa area lo edi chusina crores lo unnayi but this seems under priced..dont know much about RE market in india. Just shed some light

 

[RSUCHOU]

12 minutes ago, killerspin said:

Manikonda area lo new 2BHK apartment 60L ki undi friend valladi..seems 4-5 guys pooled money and built apartments. Maa vadiki some 4 flats vachinayanta. He is quoting 60L for one 2BHK flat. Rent around 20k vastundi in same apartments. Pedda master plan community em kadu. some 50 flats unnayi anthe. Aa area lo edi chusina crores lo unnayi but this seems under priced..dont know much about RE market in india. Just shed some light

 

Manikonda lo ekkada? Also, what's the square footage?

[Ryzen_renoir]

No one will you for cheap just because he's a friend , not even brothers and sisters do that. If it's that cheap then either land dispute or have no permission or some other unknown factor 

Don't buy apartments in India if you are not staying in them 

The rental yield is negligible , they won't appreciate much , maintenance would eat up half the rent , honestly fixed deposits would be a better investment than an apartment 

[killerspin]

9 minutes ago, RSUCHOU said:

Manikonda lo ekkada? Also, what's the square footage?

Edi bro address. Ikkade illu konnam oka 2 years back. Ela alochinchina flat in India doesn’t make sense to me but wife is insisting we should have something back home.

Shaikpet, Manikonda Jagir, Telangana 500089, India

 

[killerspin]

1 minute ago, Ryzen_renoir said:

No one will you for cheap just because he's a friend , not even brothers and sisters do that. If it's that cheap then either land dispute or have no permission or some other unknown factor 

Don't buy apartments in India if you are not staying in them 

The rental yield is negligible , they won't appreciate much , maintenance would eat up half the rent , honestly fixed deposits would be a better investment than an apartment 

Thanks brother for some good suggestion🙏 

[Ryzen_renoir]

11 minutes ago, killerspin said:

Edi bro address. Ikkade illu konnam oka 2 years back. Ela alochinchina flat in India doesn’t make sense to me but wife is insisting we should have something back home.

Shaikpet, Manikonda Jagir, Telangana 500089, India

 

Don't give into pressure ,  plenty of places  rent while you search for a place to buy. 

I know many people who bought the same as you and got stuck with an apartment that was trashed by the renters. They don't even appreciate much if you want to sell 

[killerspin]

7 minutes ago, Ryzen_renoir said:

Don't give into pressure ,  plenty of places  rent while you search for a place to buy. 

I know many people who bought the same as you and got stuck with an apartment that was trashed by the renters. They don't even appreciate much if you want to sell

[SaradaChinnodu]

Unless you vet out the legality, don't rush to buy anything....its not worth the toll it takes on peace of mind. You can always invest/buy another one...there are lot of investment options these days in HYD. 

 

P.S. this is my personal suggestion, don't buy/invest into properties sold by friends and family. Its just unwanted headache.

[csrcsr]

22 minutes ago, Ryzen_renoir said:

No one will you for cheap just because he's a friend , not even brothers and sisters do that. If it's that cheap then either land dispute or have no permission or some other unknown factor 

Don't buy apartments in India if you are not staying in them 

The rental yield is negligible , they won't appreciate much , maintenance would eat up half the rent , honestly fixed deposits would be a better investment than an apartment 

super plus 100

[Kurrodu1]

48 minutes ago, killerspin said:

Manikonda area lo new 2BHK apartment 60L ki undi friend valladi..seems 4-5 guys pooled money and built apartments. Maa vadiki some 4 flats vachinayanta. He is quoting 60L for one 2BHK flat. Rent around 20k vastundi in same apartments. Pedda master plan community em kadu. some 50 flats unnayi anthe. Aa area lo edi chusina crores lo unnayi but this seems under priced..dont know much about RE market in india. Just shed some light

 

20k/mo on 60L investment is = 20000*12/60000000*100 = 4% return per year. 

you have to exclude all the repair, maintenance, vacancy and holding costs you encounter 

[KaipuRaja]

3 minutes ago, Kurrodu1 said:

20k/mo on 60L investment is = 20000*12/60000000*100 = 4% return per year. 

Pls include taxes and repairs also

[killerspin]

Yep. ROI is under 5%.  recurring income great em radu. I felt very happy when I bought home here in US. It giving me so much happyness for the money I put in..Janalu em radu aa 60L ki manchi offer antunnaru. They are just creating some FOMO I guess. Full dielama to GO or NO-GO. Pakka andulo undam tenants gabbu chestaru anedi ardam ayyindi and appreciation is also way less. Kondaniki pedda reason em kanabadatle..salla badatha inka

[SaradaChinnodu]

2 minutes ago, killerspin said:

Yep. ROI is under 5%.  recurring income great em radu. I felt very happy when I bought home here in US. It giving me so much happyness for the money I put in..Janalu em radu aa 60L ki manchi offer antunnaru. They are just creating some FOMO I guess. Full dielama to GO or NO-GO. Pakka andulo undam tenants gabbu chestaru anedi ardam ayyindi and appreciation is also way less. Kondaniki pedda reason em kanabadatle..salla badatha inka

intelligent fellow 

[RSUCHOU]

41 minutes ago, killerspin said:

Edi bro address. Ikkade illu konnam oka 2 years back. Ela alochinchina flat in India doesn’t make sense to me but wife is insisting we should have something back home.

Shaikpet, Manikonda Jagir, Telangana 500089, India

 

Edho satisfaction ki tappa meeru cheppina area lo 2BHK konna kuda meeru vellina taruvata undaleru ani naa feeling. You will rent a bigger and better home. If it is for you to go and stay back choose something bigger and better. That too, only if you have plans to come back within 5 years. If not, the value of a standalone apartment will not appreciate the same way as an apartment in a reputed gated community. 50-60 Lakhs in a standalone apartment complex might become 70-80 at the best. That area is growing and will always have new apartments coming up. So, seconds is not a very lucrative market. Where as spend an additional 40 lakhs to buy something in a reputed complex with good amenities in nallagandla or some such area and you will see better returns both in terms of rental value and future resale.

[killerspin]

7 minutes ago, RSUCHOU said:

Edho satisfaction ki tappa meeru cheppina area lo 2BHK konna kuda meeru vellina taruvata undaleru ani naa feeling. You will rent a bigger and better home. If it is for you to go and stay back choose something bigger and better. That too, only if you have plans to come back within 5 years. If not, the value of a standalone apartment will not appreciate the same way as an apartment in a reputed gated community. 50-60 Lakhs in a standalone apartment complex might become 70-80 at the best. That area is growing and will always have new apartments coming up. So, seconds is not a very lucrative market. Where as spend an additional 40 lakhs to buy something in a reputed complex with good amenities in nallagandla or some such area and you will see better returns both in terms of rental value and future resale.

Cheers brother. This is great info👍 Nenu bhi chusa aa area 40k+ vastunnayi rents manchi gated comms. lo. Now I stay put on buying apartment. But monna India trip lo chusindi endi ante farm lands, villas anni super expensive ayipoyayi. Affordability lo evi levu. Just I was tempted by seeing its in OK price.