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Arjun Verma
posted on 7 MaySite visited Omaxe New Chandigarh — my honest take.
Did a site visit to Omaxe New Chandigarh on Saturday. Everyone glorifies Mohali International Airport expansion, but prices already seem super high. Lagta hai market ne peak kar liya. What's the real ROI for a 2BHK there? I work in real estate, but buying for myself is different. Is this the right time to buy? Change my mind.
#market-timing#new-chandigarh#omaxe#2bhk#roi
Comments
I think it's important to look beyond just the airport. Check the RERA status properly, see the progress on ground, not just the glossy brochures. Compare with other projects in areas like Saini Majra or even some pockets of Zirakpur which offer better connectivity and established living. The market is not in a clear bull run right now for all segments, so don't get swayed by FOMO. Do your due diligence, especially if it's your first home.
Har builder ka yahi haal hai, airport dikha ke price badha do. Lagta hai hum middle class ke liye ghar lena sapna hi reh jayega, ya phir loan ke chakkar mein zindagi nikal jayegi. So frustrating!
OP, you mentioned you work in real estate. What's the current rental yield for a 2BHK there, realistically? That's key for ROI calculation for a first-time buyer like me. Kitne time mein investment recover hoga, that's what matters for budget-conscious people.
Rental yield for 2BHKs in that specific Omaxe area is barely 2-3% right now, if you even find a tenant. Most buyers are investors, not end-users, so there's a lot of inventory for rent, pushing yields down. ROI is definitely a long shot for the next 3-5 years.
See, I get the skepticism, but the airport expansion is a game-changer for the region. Look at how areas near Manimajra shot up after the flyover and connectivity improved. New Chandigarh ka potential long-term mein toh pakka hai. Maybe not for immediate ROI, but for appreciation in 5-7 years, it could be huge. End-users ke liye shayad abhi expensive lage, but investors always look ahead.
Yaar, ye 'long-term potential' sunte-sunte mere jaise kitne log phas gaye hain. My uncle bought a plot in Mullanpur Garibdass thinking it would boom, but development has been slow. Airport expansion is good, but infrastructure needs to catch up first. Sirf airport se log rehne thodi aa jayenge wahan. Schools, hospitals, daily needs ka kya?
Bhai, totally agree with you! I visited last month and the prices they're quoting for a 2BHK are insane. They keep pushing the airport angle, but with the current infra development around Omaxe New Chandigarh, it feels like a gamble. ROI kaise niklega itne high entry points pe?
Haan bilkul! Mere ek friend ne bhi dekha tha wahan, Phase 3 mein they were asking for close to 70-75L for a small 2BHK. That's almost what you'd pay for a well-located 3BHK in some established parts of Mohali. Itna paisa daal ke kya return milega, samajh nahi aata.