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buying 25 yr old flat in prime locality

Q: Hi,
i have come across a resale flat in Murugeshpalaya next to Manipal hospital and Leela palace which is a prime location.the age of the property is around 25 year.the condition seems to be not quite good,but OK.the quoted price is 40L,negotiable.how long i will be able to make use of such a flat?will i get reasonable appreciation if i want to sell it later?how generally old apartments are demolished and re-constructed?

jimmy13ad
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