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Ishita Bhatia
posted on 2 AprASK Developers possession in Sector 98 - some surprises!
Just got possession of my flat in Sector 98 from ASK Developers last month. Honestly, the rental yield they advertised seems way off. They quoted like 4%, but after talking to other owners here, it's more like 2.5% max. Has anyone else faced this discrepancy? Also, the OC is still pending, and nobody told me that meant extra charges for everything! Am I the only one feeling a bit misled? I'm also wondering if I should have gone for a 3BHK instead of a 2BHK. Would the rental income be significantly better? What's everyone's experience with renting out property in Sector 98? Not sure if I should hold on or sell it now. What's the best time to sell for maximum gain?
#possession-delay#sector-98#rental-yield#ask-developers#oc-charges
Comments
Final advice: Patience. Real estate is a long-term game. Don't panic sell based on short-term fluctuations.
Before selling, calculate all your costs - stamp duty, registration, maintenance, etc. Then factor in the potential capital gains tax. Selling might not be as profitable as you think.
Sector 98 is a good location, but the builder's reputation matters a lot. Next time, check their past projects before investing.
I think holding onto the property is the best option right now. The market will improve, and you can always renegotiate the rent with your tenant later.
Did you get the OC yet? If not, you can file a complaint with RERA. They are pretty effective in resolving these issues.
So, what are you planning to do now? Are you going to hold onto the property or try to sell it?
Market sentiment is key. Now is definitely NOT the best time to sell. Wait for a good quarter, maybe after Diwali?
I bought in Sector 150 three years ago. Rates have almost doubled now. Patience is key in real estate.
OC pending and extra charges? That's standard practice unfortunately. Builders always find a way to squeeze more money out of you.
Totally agree yaar. They'll keep extending the date and charge you for every little thing. It's a scam!
Which direction does your flat face? Park facing properties usually fetch better rent and resale value.
Mera bhi same experience tha 2 years ago in Sector 137. Builder promised the moon, but reality is very different.
Check the RERA registration number on the UP RERA website. It will give you a better idea of the project's status and any complaints against the builder.
Sector 98? Isn't that near the Noida-Greater Noida Expressway? Connectivity is good, but traffic can be a pain during peak hours.
Honestly, the rental yield advertised is almost always inflated. They want to lure you in. That's why due diligence is so important.
Has anyone checked the current rental rates on NoBroker or Magicbricks for similar properties in Sector 98? That will give you a realistic idea of the potential rental income.
OC pending means a lot of hidden costs, unfortunately. You'll have to pay for things like generator usage, water charges, etc. I learned that the hard way.
I'm also considering investing in Sector 98. Which floor did you get? And what's the sqft area?
2BHK vs 3BHK depends on your target tenant. Families usually prefer 3BHK, which means higher rent. But 2BHKs are easier to rent out, especially to bachelors or couples.
True that. 3BHKs are vacant for longer periods usually.
Also depends on the location within Sector 98. Closer to the metro station, 3BHKs might be more desirable.
Don't sell now! The market is slowly picking up. Especially with the Jewar airport coming up, prices will definitely go up. Hold for at least 2-3 years.
Bhai, 2.5% rental yield? That's Noida for you. Everyone overpromises. Which project is this exactly? Sector 98 is huge.
Haan yaar, I'm also facing the same issue in Sector 75. Rental yield is never what they promise.
U1, he mentioned ASK Developers. Probably ASK Cable Stay bridge one.