Buying property in India

#1 Jun 8th, 2014, 21:00
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  • godspeed1208 is offline
#1
Hi there everyone, i'm am planning of investing in building a property(residential or commercial ) in india for investments/profits etc. And i was wondering how things work in india.. for example let's say i buy a land and build a house in india, how much or how do i know how much i can sell it for?

Example:

plot/land area: 1500sf
house cost me to build: RS2000000
plot/land cost me :RS 300000
So total cost is : RS 2300000

So how much can i sell the house for or will it depend on the area i built the house and the current running rate for per square feet of properties in the same area?

Also when i sell the house does it include the land too? it goes with the package in india? Thanks guys for any help you could provide me
#2 Jun 8th, 2014, 22:40
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  • edwardseco is offline
#2
Buying property in India is very complex and wrought with risks. I assume you are Indian because more challenges occur otherwise. However, its been done and there are threads here on such. Note the ones that appear below or to the right of this post and note the vastly improved site search engine. See also the British expat sites that talk about this mostly in regard to Goa.

My brother in law bought property that is under a lake. Its a nice lake but he doesn't like to talk about it. In a moment of destitution and desperation my mother in law bought a flat with her last money. She made so much money on it she disregarded the confiscation of her pension in Kashmir..
#3 Jun 8th, 2014, 23:36
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#3
Quote:
Originally Posted by edwardseco View Post Buying property in India is very complex and wrought with risks. I assume you are Indian because more challenges occur otherwise. However, its been done and there are threads here on such. Note the ones that appear below or to the right of this post and note the vastly improved site search engine. See also the British expat sites that talk about this mostly in regard to Goa.

My brother in law bought property that is under a lake. Its a nice lake but he doesn't like to talk about it. In a moment of destitution and desperation my mother in law bought a flat with her last money. She made so much money on it she disregarded the confiscation of her pension in Kashmir..
HI there yes i'm indian born in singapore. My great grand parents were from india. I really have no idea how to go about buying property in india . guess i need to read up more now. Looks like i need to be a PIO or NRI first even before thinking of moving ahead right?
#4 Jun 9th, 2014, 07:28
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  • goangoangone is offline
#4

Lightbulb

You mean OCI, Overseas Citizen of India.

GoanGoan......here & there..Goa
#5 Jun 9th, 2014, 08:52
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  • professorm is offline
#5
Property values vary from town to town. In general, property values are very high right now. Except in big cities, there is no established market for residential real estate.

You need to get OCI status to buy residential real establish. At any rate, pay a visit to areas where you want to engage in real estate business to investigate if your ideas are feasible.
#6 Jun 9th, 2014, 17:33
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#6
Quote:
Originally Posted by goangoangone View Post You mean OCI, Overseas Citizen of India.

Oh ok thank you haha too many of this pio.oci, etc
#7 Jun 9th, 2014, 17:37
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#7
Quote:
Originally Posted by professorm View Post Property values vary from town to town. In general, property values are very high right now. Except in big cities, there is no established market for residential real estate.

You need to get OCI status to buy residential real establish. At any rate, pay a visit to areas where you want to engage in real estate business to investigate if your ideas are feasible.
HI yes i think i should pay a visit. I was first checking if i could get to buy a property in india and than buy a land. AFter that would be finding out the estimated cost so that i could budget and plan what type of business i could start or invest it. At the moment i have planned 3 which are : residential flats(rental income), commercial.. hotel business run by myself or shop(given for rent ).

So if i had an idea of the cost to build them i could go ahead and plan things out. Maybe i need to visit building contractors directly for this. Any reputable building contractors you guys can recommend me ? Thanks alot guys
#8 Jun 26th, 2014, 01:26
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  • professorm is offline
#8
You need to see it for yourself, words will not do justice. Go visit! Travel around to develop an overall perspective. Learn all you can and then narrow your search. Spend a lot of time to learn about prices of real estate in an area of your choice. Spend a lot of time there before investing.

Caveat Emptor, Indian real estate is extremely complex and rife with fraud.

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