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Irfan Ansari
posted on 12 MayNRI Mohali investment is a gamble
Is NRI investment in Mohali actually worth it without being here? I just bought a 3BHK in Sector 84, Signature Global project, possession last month. Experience has been a mixed bag, lots of small issues. My cousin, an NRI, is looking to buy too, maybe in Sector 65 ya Cyber City. He can't visit often. Builder ka track record remote check karna kitna reliable hai? Are the advertised rental yields for NRIs real, ya bas paper pe hi hai? Seems risky to buy blind, right?
#nri-investment#builder-trust#remote-buying#rental-yields
Comments
Bhai, Signature Global ka track record mixed hi hai. Kuch projects theek hain, kuch mein bahut complaints hain. Without being physically present, it's very difficult to ensure quality and timely possession. Mohali mein bahut projects hain, but due diligence is key, especially for an NRI.
This is exactly why I'm so hesitant. I'm also a first-time buyer and the stories I hear about builders are scary. My friend's brother invested in a project near Airport Road (Gurgaon side) and the possession got delayed by 3 years! He had to fight for compensation. For an NRI, it's even worse – how do you chase legal battles from abroad? I've heard Cyber City Mohali is promising but without a local contact, it's a huge risk. Maybe look at ready-to-move options only?
That's a valid concern, U9. My brother, also an NRI, used a property management firm for his investment in Badshahpur (Gurgaon). They charge a fee, but they do regular site visits, send video updates, and handle all builder communication. It's an added cost, but gives peace of mind. Without that, it's truly blind faith.
But even with POA, how do you verify the POA holder is doing their job properly? Builder might still cut corners.
You're right, the legal hassle is a nightmare for NRIs. Ready-to-move is definitely safer. Or, if they insist on new, they need a very reliable local POA (Power of Attorney) holder. Someone who can actually represent them, not just sign papers.
Sahi kaha! My uncle also bought a plot in Mohali a few years back, thinking high returns. But the appreciation has been slow. For your cousin, I'd say physical verification is a must. Did you get your 3BHK fully furnished from Signature Global?
Yeah, brochures are always misleading. They show one thing, deliver another. Classic builder tactic.
Nahin, U3, it wasn't furnished. Just basic fittings. That's one of the 'small issues' – the quality of fittings is just okay, not what was promised in the brochure. My cousin is thinking of investing in Cyber City Mohali, but I'm telling him to be super careful.
Totally agree, bhai. NRI investment in new projects is always a gamble. Especially if you can't be there to oversee things. Rental yields are usually inflated, only on paper.
Is NRI investment in Mohali actually worth it without being here? I just bought a 3BHK in Sector 84, Signature Global project, possession last month. Experience has been a mixed bag, lots of small issues. My cousin, an NRI, is looking to buy too, maybe in Sector 65 ya Cyber City. He can't visit often. Builder ka track record remote check karna kitna reliable hai? Are the advertised rental yields for NRIs real, ya bas paper pe hi hai? Seems risky to buy blind, right?