S
Suresh Reddy
Charmwood Village road upgrades do not justify current resale premiums
Two years ago I thought Charmwood Village was totally tapped out on price gains. Currently in a 2BHK in Sector 21C and thinking of upgrading to a 3BHK around here for the Delhi border access. The road connectivity clearly helped, but is the price jump worth it for older inventory? Already have a home loan running, so trying to figure out which pockets actually benefited without crazy markup...
#charmwood-village#infrastructure-impact#faridabad-real-estate#upgrade-to-3bhk
Comments
At the end of the day it is all about your personal EMI comfort level. If upgrading stretches your monthly outflow beyond 45% of take-home pay, older inventory upgrades rarely make sense, even with good roads. What did your family finally decide on that Sector 21C flat, are you planning to sell it first or keep both on rent?
Keeping both on rent with an active loan sounds terrifying in this interest rate environment.
Current Faridabad market sentiment is weird right now. Resale asking prices are high because people think Delhi spillover will absorb everything, but actual middle-class buyers like us are just walking away from these inflated demands.
I was in the exact same boat last month trying to finalize between Charmwood and Sector 35. Road banne ke baad broker bola price double ho jayega, but the actual flats have old plumbing, tiny lifts, and massive maintenance issues. In Sector 35 you get newer layouts for almost 25% less money, though traffic near Mathura Road during peak hours is a headache. Now I am totally stuck in analysis paralysis because neither option feels 100% safe for my tight budget. What did your bank say about valuation for these older Charmwood registries?
Haan Sector 35 seems cheaper on paper, but daily commute to Nehru Place will kill you if you rely on the bypass road during morning rush.
Banks usually down-value them by at least 15% compared to agreement value, speaking from painful experience last year. Meri loan eligibility short fall ho gayi thi last minute pe.
Sector 21C is much more peaceful honestly. Why take on so much extra financial stress just to save 10 minutes at the border?
Bhai seriously, thank you for posting this. I have been looking at Charmwood for 3 months now because my office is in South Delhi, but the quotes brokers are throwing around are giving me mini heart attacks. Are sellers actually getting that 8k to 9k per sqft for 20-year-old flats?
To answer your question directly, deal closures are happening closer to 6.8k to 7.5k per sqft, not 9k. Even at that rate, if you already have an ongoing home loan, taking another huge top-up for seepage-prone buildings is risky.
Nobody is paying that blindly, but genuine demand toh hai for proximity. I visited three societies last week and got totally confused because everyone quotes randomly based on that widened Surajkund road.