Look for deals when buying realty

This is a good time to purchase a property for personal use, but not if you are buying it as an investment.

A wait-and-watch policy is advocated in the latter case as at current levels, real estate prices are quite high across most cities. "The prices are high in most cities and it is better to wait, except for Hyderabad, where we expect a good growth and a potential for appreciation," advises Ashutosh Limaye, head - research at Jones Lang LaSalle, India.

At the same time, those waiting for a major correction in the real estate markets may be disappointed. "We do not foresee a correction. Rather the prices will see a modest appreciation," adds Limaye. Financial advisors believe that property should be purchased only if you plan to stay in that property. 

P V Subramanyam, chartered accountant and financial trainer, is not in favour of property as an investment. "It is a very low yielding asset that involves a huge chunk of money. Plus, it does not have partial liquidity, so it does not make for a good investment but is a good asset for personal use," he explains.

Given the high real estate prices, there is little headroom for appreciation. "Property prices for ready apartments are unlikely to see appreciation over the next 12-18 months," says Wali Chaudhary of Pyramid Property Consultants. Real estate experts suggest that those planning to purchase property should keep searching for lucrative deals like distress sales or where the property is available at a discount.

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About us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.