S
Sonali Verma
Did Southern Peripheral Road infrastructure actually increase rentals?
I'll be honest, tracking capital appreciation from Dubai without doing a site inspection myself felt like guesswork. Recent road connectivity along Southern Peripheral Road clearly pushed asking rates in Sectors 70 to 80 faster than Sector 90. Are local property managers seeing genuine tenant demand follow, or is this just speculative pricing?
#mohali#southern-peripheral-road#nri-investment#sector-80#rental-yield
Comments
I don't know, it looks like a mixed bag right now. Near Baliawas and the Faridabad connector side, commute to corporate offices is decent so tenants who cannot afford Golf Course Road are moving in, but internal sector roads are still broken in pockets. Did the OP end up buying anything yet, or are you still watching the market from Dubai? Because prices seem to change every two weeks here.
Can anyone share what is the actual realistic rental yield in Sectors 70 to 75 right now? My father is telling me not to lock our hard-earned savings unless the net yield touches at least 3.5%.
Sach mein, that 2.5% yield makes me so nervous about taking a 20-year home loan. What if interest rates shoot up further next quarter? We will end up paying double to the bank while rent barely covers half the EMI.
Realistically it is hovering between 2.2% to 2.8% net after society maintenance and property tax. If you buy a 3BHK for 2.2 Cr today, you will barely get 50k to 52k in hand. Anyone promising you 4% on SPR is selling you dreams, don't get swayed so easily.
Brokers are quoting crazy numbers on YouTube, but ground reality is very confusing. Last month I talked to an owner in Sector 70 who had to reduce his asking rent from 42k to 34k because the flat stayed locked for 75 days. Plus with companies calling people back 5 days a week, daily commute towards Cyber City or Aerocity through traffic bottlenecks is making people rethink SPR.
Honestly I feel this is purely speculative hype driven by channel partners. I went for a site visit near Sector 76 last Sunday, and half the towers look barely occupied at night with barely 4 or 5 lights on. If genuine tenant demand was there, occupancy rates would be much higher by now. We first-time buyers will get completely trapped if we enter at 13,000 per sqft expecting 4% rental yield.
Bhai, I was checking 2BHK rents near Badshahpur drain side on SPR last week, brokers are asking 38k plus maintenance! It feels totally inflated. Are salaried tenants actually paying this much, or are these flats sitting empty for months?
Arey par 38k is too steep for middle class yaar. My monthly budget for EMI itself is 45k. If tenants can pay nearly 40k rent, why won't they just stretch and buy a home instead of paying someone else's mortgage?
Bhai, they are paying it because Golf Course Extension rents went completely out of budget. My colleague was paying 55k in Sector 65, so he shifted to Sector 71 just to save 15k every month. Even with bad monsoon waterlogging, people need connectivity to Cyber City.