Has anyone purchased property in Bangalore, Delhi, Chennai etc in India? How much investment you have made and how much loan you have taken in total?
Not advisable, not going to appreciate anytime soon, thanks modiji. Also rents are less than 8% interest that Indian banks gives
Then what other forms of investment would you suggest?
Booked an apartment in Mumbai 6 months back, will be ready in December. Expected rent is 1.2L INR, cost 2.5Cr, loan 1Cr. New ones selling at 2.8 Cr now
Is it furnished?
Yes.
It's been a year I have started my career, is it a good time for me to look into investment in India for real estate? I am not sure whether I should be taking 3 CR loan as I don't have much savings
Don’t at this point. Especially with interest rates that Indian banks offer. Don’t forget that 3cr is approx 400k US$. Get atleast 50% downpayment before buying real estate in India.
It all depends on individual requirements, but ideally you should have 30% down payment. Save until you have this plus extra cash in hand. Don't rush, there are always new locations coming up that will increase in value, in my case, my EMI+tax will be covered by the rent and I still have cash at hand, so it works for me.
Don't buy property for investment in indian cities, unless property value is like 20% of your total investment portfolio.
3 CR, loan 75 laks (paid off now)
wow how much yoe and savings you had when u took the loan? Also how are the returns from rent from the property ? Is it sufficient enough to pay off the loan amount quickly
It was for bunch of land parcels. 15 yoe. 2 .25 CR was savings.