U
Uma Thurman
posted on 10 MayNRI looking to invest in Chandigarh: Need ground truth
Budget finalised, loan pre-approved — but being in Dubai, investment in Chandigarh feels like a big leap. I'm looking at a 3BHK in New Chandigarh or Aerocity, maybe with Omaxe or Godrej, around ₹1.5 Cr. The main issue for me is managing the property remotely. Kaise log rental yields manage karte hain from abroad? Finding a trustworthy property manager for a 2-4% yield seems tough, no? I'm also worried about legal clarity with power of attorney. Is it straightforward, yaar, or are there hidden pitfalls? Especially with construction quality variations, can't do site visits myself. What's the scene with builders offering good post-sale support for NRIs? Any advice on this would be super helpful.
#nri-investment#property-management#legal-clarity#chandigarh-real-estate#remote-investing
Comments
Omaxe aur Godrej ka track record toh theek hai but post-sale support NRIs ke liye, that's a different ball game. Builders generally don't care once the payment is done. Construction quality ka issue toh har jagah hai, site visit ke bina kaise decide karoge? Bohut risky hai, bhai.
Sahi baat hai. Mera ek dost Aerocity mein Omaxe phase 2 mein liya tha. Possession mein 2 saal delay hua, aur jab mila toh finishing work itna substandard tha ki usko khud se karwana pada. Customer care toh phone bhi nahi uthate the. NRI hone ke naate toh aur bhi zyada dikkat aati hai, builders ko
Yaar, exactly my thoughts! Main bhi first-time buyer hoon aur remote investment ka soch kar hi sir ghoom jata hai. ₹1.5 Cr is a big amount, aur Chandigarh mein rental yields kaafi tight hain, especially for a 3BHK. Property manager pe depend karna bahut risky lagta hai, pata nahi kaun mil jaaye.
Bhai, trust toh mushkil hai but there are agencies. Maine apne cousin ke liye ek property manager dhunda tha Mullanpur Garibdass mein. They charged 6% initially, but after some negotiation, settled for 4.5% for a 2BHK. But still, every month they'd come up with some new expense. Rental yields toh khaali paper pe dikhte hain, real mein expenses kaat ke 2% bhi mushkil se bachta hai. My advice, agar koi close relative nahi hai wahan, toh mat lo remote property.
Totally agree. Remote management is the biggest headache. Kaise trust karein kisiko?