Q:I have property in Bakericity Ahmedabad, and Pros and cons areCons.1. Top floor(3rd)2. No allotted Parking3. No LiftPros1. Top Class Builder2. Very good Locality3. Very sufficient spacing4. Got rent which equals to my EMI (8000 minimum)Now Question is I am getting 18 Lak for it now, and it is 3 year old, so Do I have to sold it and go for new one in Ahmadabad. I bought it in 10 Laks and current trend in new construction is 24 to 26 laks for same type flat.Question is whether to sell or hold for a time. Confusen is Property now and onward started to get older. and older property loose its valuation.
Latest Answer: @Hemant, The property is already 3 years old so I think it is better if you sell it off, because your property doesn't have lift and car parking and the property is on the top floor. It is very difficult to get buyers for top floor.
Q:I have a pagdi 220 sq ft 1 RK house in dadar east. Mumbai and redevelopment chances are very low.I have taken a loan of 30 lacs @10.5% remaining 152 months for a house in Thane.I am confused 1)Whether I should sell the pagdi house for approx.30L net and make full payment of the loan as my outgoing is huge or 2) Should I make a part payment and reinvest the funds in other property and rent it out or 3) let-out the present pagdi house for rent of net Rs.9000/-p.m.? Please advise. I have a car loan of Rs.1,30,000/- @9.5% for 1 yr.Both the loans are consuming 50% of my salary.
