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Shweta Joshi
Faridabad Affordable Housing: buy now or wait for price correction?
Affordable Housing Projects mein Faridabad mein kya chal raha hai? I'm based in Dubai, can't visit. Last 1-2 years mein prices kaafi badhe hain kya? Should I invest now ya wait karna chahiye for a correction? Power of attorney se manage karna hai, toh rental demand bhi important hai. Kya lagta hai community ko?
#faridabad#affordable-housing#price-trend#nri-investment#rental-yield
Comments
Wait for correction is a myth for affordable housing, usually prices only go up, albeit slowly. But builder ka track record dekhna bahut zaroori hai. Mere friend ne 5 saal pehle Sector 78 mein book kiya tha, abhi tak possession nahi mila. RERA complaints bhi chal rahi hain. Make sure the project has all approvals and a good reputation before investing from afar.
Rental demand Faridabad mein mixed hai. New sectors like 81, 84, 88 mein achhi hai because of connectivity to Delhi and new infrastructure development around. But older affordable projects mein thoda struggle hai ya rent expectations kam hain. Power of attorney se manage karna hai toh society maintenance aur tenant screening bhi dekhna padega, it's not a walk in the park.
Sach mein itna appreciation? Current rate kya chal raha hai per sqft for a decent 2BHK in affordable segment in Faridabad?
I checked rates for Puri Amanvil in Sector 89, it's around 3700 psf now for a fresh booking. Two years back it was 3000 psf. So yes, considerable increase. But rental yield in that area is good, around 10-12k for a 2BHK, which might cover a good chunk of EMI if you manage it well from Dubai.
Haan bhai, 4000+ per sqft for affordable is crazy. Pehle to 2500-3000 mein mil jaate the. Builder loot rahe hain with all these 'hidden' charges too.
U3, Sector 35 mein toh 4000-4500 per sqft chal raha hai for ready-to-move-in affordable flats. New ones are slightly lower, around 3500-3800, but with the usual delays. It's definitely not as 'affordable' as it used to be.
I booked a 2BHK in Sector 88 last year, possession date was supposed to be Dec 2023 but abhi tak pending hai. Builder ne 3-4 months ka extension maanga hai. Par value appreciation kaafi hui hai, around 15-20% in my project since booking. Agar long-term perspective hai, then it might be worth it, especially if rental yield is good in that area.
U7, I booked in Adore Happy Homes. Builder ne naya date March 2024 diya hai, construction speed badhi hai, lag raha hai mil jayega. RERA website pe bhi updates hain, you can check there.
Which project did you book in Sector 88? Possession status kya hai abhi exactly? Builder ka naam kya hai?
Totally agree with U2! Meri bhi booking Sector 89 mein hai, same story. Delay toh hai but price wise we are in profit. Bas possession mil jaaye time se, phir rental income se EMI manage ho jayegi.
Bhai, Dubai se invest karna without visiting, thoda risky hai. Affordable housing projects mein delays bahut common hain. Correction toh pata nahi kab aayegi, but prices already high lag rahe hain for the quality and amenities they offer. Careful rehna padega.