India vs Canada- Real Estate Investment
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Chandresh
Advice is free – lessons I charge for!!
Location: God's own country
Posted on: 31-03-15 05:01:39
In Kerala, I pay RS.10,000 rent for a 3 bedroom upper portion of a house which is worth around 1 crore in the market.
In Chennai, my brother pays Rs 30,000 rent for a 1.4 crore villa.
In other parts of chennai, a apartment of cost rs. 65 lakhs will fetch you a rent of 18,000 to 20,000 per month.
My Ex (fired) CEO bought an apartment in the twin tower, Mumbai for 8 crores and he has rented it out to a MNC for Rs. 20 lakh per year (Frank something). This was in 2012.
Make your own calculations. I am being told that the RE boom in India is over, meaning that you will not expect the kind of returns that you got from 2004-2007 when properties appriciated between 1000% to 30,000%
Murali
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I am a Gents and not a Ladies.
Quote:
My nephew who lives in Bombay - in a 3 bedroom 1300 sft apt in Juhu, used to pay a rental of 1.65 lakhs per month three years ago.........don't know how much he pays now!
That's bcoz , lot of Bollywood actor's and actresses's live in the Juhu area.
Amitabh Bacchaan lives in that area. He has 2 bungalows there .. 1 named PRATEEKSHA and the other named JALSA.
His son Abhishek Bacchaan & daughther in law , Aishwarya Rai also live there in Juhu
Quote:
My nephew who lives in Bombay - in a 3 bedroom 1300 sft apt in Juhu, used to pay a rental of 1.65 lakhs per month three years ago.........don't know how much he pays now!
What does he do to pay that kind of rent ?
Is it No. 1 business or No. 2 business , he is doing ? Surely he is NOT a salaried guy to pay that kind of rent.
Why not buy a flat in Vile Parle ( East ) for a reasonable amount & then go to Vile Parle ( West )..where Juhu is located for a walk everyday
..if he wants, instead of paying that kind of rent.Quote:
Originally posted by tamilkuravan
In Kerala, I pay RS.10,000 rent for a 3 bedroom upper portion of a house which is worth around 1 crore in the market.
In Chennai, my brother pays Rs 30,000 rent for a 1.4 crore villa.
In other parts of chennai, a apartment of cost rs. 65 lakhs will fetch you a rent of 18,000 to 20,000 per month.
My Ex (fired) CEO bought an apartment in the twin tower, Mumbai for 8 crores and he has rented it out to a MNC for Rs. 20 lakh per year (Frank something). This was in 2012.
Make your own calculations. I am being told that the RE boom in India is over, meaning that you will not expect the kind of returns that you got from 2004-2007 when properties appriciated between 1000% to 30,000%
Murali
Why doesn't this fool just sell the house for 1 crore ? ..and keeps the money in Fixed Deposit..he will almost get 10 % interest on it , so about 10 Lacs per yr ..as opposed to the paltry 1.2 Lacs from you..is he himself living in the lower portion..if so it makes sense
Plus he has lot of other over heads & headache like property taxes, maintenance etc.
Quote:
Originally posted by tamilkuravan
My Ex (fired) CEO bought an apartment in the twin tower, Mumbai for 8 crores and he has rented it out to a MNC for Rs. 20 lakh per year (Frank something). This was in 2012.
Make your own calculations. I am being told that the RE boom in India is over, meaning that you will not expect the kind of returns that you got from 2004-2007 when properties appriciated between 1000% to 30,000%
Murali
Knight Frank is probably the company ..he is renting it out to.
Location: God's own country
Posted on: 31-03-15 05:55:47
Adam,
It is a 3 level house.
House owner lives in the lower floor where his second car park is our 3 rd. bedroom above.
We live in the middle floor. There is another tenant in the top floor.
The whole house is worth atleast 3 crores. He is a doctor in the nearby hospital.
In the area I live, all live in the Gulf and hence a lot of apartment is just locked. So house rents are generally low but property / land prices are not low.
On the other post, yes. it is Knight Frank that he is renting it out to. Since it is a MNC, they pay a premium rent.
Murali
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I am a Gents and not a Ladies.
