Hi,
I want to buy a Land for Capital apreciation in India. What will be the good city for that? My budget is around 30-40 lacs.
All Inputs are welcome.

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Driller the thriller

1. Your budget is around a 100K which is a lot in Canada but not much in today's India. Yes! Things in India are so expensive especially real estate. 1 acre of barren land on Hyderabad outskirts fetched a whopping Rs.14.5 crore per acre in auction.

2. There is a growing land mafia in India eyeing non-monitored lands ( read old people , NRI's etc ), generating fake papers and reseling them

3. In my opinion your budget will go to a greater length in Canada than in India

4. But if you know someone , and if someone can look after or take care of your property, then it is fine. The rate of return on investment in India is very high

5. Ensure Clear title, aproved layout and get legal opinion before you buy

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Non illigitamus carborundum

For a 30 K to 40 lakhs, I don't think it is possible to buy a piece of land in any metrocities or developing metrocities in India. The land price is high as close to 100 lakhs

Considering high cost of land, what will be the option for purchasing a flat ( may be small) in Chennai, Mumbai or Banglore
Please reply

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Driller the thriller

desi_driller,

Good thinking. For Rs. 30-40 lakhs, you can get a decent sized plots (60x40) in Bangalore or Chennai. There are number of websites that has ads for plots in these two cities. But be careful abt dealing with a broker. Go for private sales so that u can negotiate directly. The advantage of a plot is that its easy to sell or if u want to build something, u can do it with your choice.

For apartment, its already there and u dont have a choice. The advantage of the apartment is that u can rent it out, if u get a good tenent. On the contrary, if the RE market is down, apartments are the one to get hit first. E.g. in any apartment complex, there may be number of units for sale. It would be buyers market.

So think abt it. Good decision though abt invesnting in India. Future is in the developing countries.

DIO

DIO,
You are right. I visit India every year, it is better to deal directly then thru websites. I am narrowing my search to Chennai. I am a North Indian but my relatives are there in Chennai since ages.Can you suugest some nice area in Chennai?

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Driller the thriller

dd,

check your pm

DIO