If you want a property solely for investment purpose, the time horizon is one of the most important considerations. It is always good to have a longer time horizon for investment, say 3-5 years. Records show that investment in young and growing cities has always been fruitful. You should invest in places, the development strategy of which is already on papers.
Noida and Gurgaon stand as the two relevant examples of the same.
15 years ago, Noida Sector 15 and 18 were in the initial stages of development. Properties were available at an average rate of Rs 2,000-2,200 per sq ft. Now the average property price in these locations is as high as Rs 8,000-12,000 per sq ft. Prices have multiplied manifolds. Commercial properties in Sector 18 have witnessed an appreciation of 15-20% in the last 15 years. [Read more…]