negi wrote:^ Depends on multiple factors
1. Is the per square feet rate at par with the current trend for the city ? The real estate mkt has slumped in last 6 months.
Current trends
negi wrote:
2. You said row house so is it the corner one and specially the one which does not meet the main road but is at end towards the boundary wall of a gated complex (I assume this is a row house within a gated complex) ? Does it have extra open spaces adjacent to it as against the other houses in the same complex ?
It is in the middle of its row. Some space in front and rear. Parking space can take a sedan and a scooter.
All the plot are in the range of ~1200 sqft with built-up area ~1200 leaving 600 odd sqft area on the front and back.
negi wrote:
3. 5 years down the line will a high rise come up within 30-40 meters from this house and block the sunlight on your terrace/balcony ?
No
negi wrote:
4. The current house can it be re-innovated and used again or you wish to bulldoze the entire structure and make a new one from scratch ? If it is the latter factor in the real cost of breaking it down and disposing the junk. Add that to your construction cost 'P'.
If it was a plot with each house having space around, one could have done whatever one fancied.
There are common walls as the complex was constructed by the builder (houses were sold not plots)
Theoretically, buying same size plot in the same area at current market rates and building would be cheaper than the price of this built unit.
negi wrote:
Lastly for your point '2' "The price of a plot of same area will be available in the market at P/2. No guarantee that a plot IS available in the same locality."
Do you see this place retaining it's central or good location in next 15-20 years ? I mean if you are in a metro then chances are that in next 10-20 years a lot of new areas will become equally well connected if not better are high so if you are getting a plot of same area at 'P/2' you might want to actually buy either a bigger plot for P or buy the same sized one for P/2 and keep the money for construction or investment . Again it all depends on the locality say if the choice was between say Vasant Vihar in Dilli vs some place in Noida or say Jayanagar first 4 blocks or HSR 2nd block vs some place in Sarjapur or E city then you would want to stick to your first choice .
It will remain central for long time.
The idea was to fund this transaction by selling a flat in the same locality for A and taking a loan of A/2.
A friend says it is better to buy a plot/row house 5+ km away from this location and still get a better (new) house built on bigger plot. He is in the process of selling his 25y old house on a ~5000 sqft plot for a price that seems to discount his construction (effectively getting paid for the land at market rate).