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Planning to buy property in Vasavi Sarovar. Need to get my logic validated
My primary purpose is not investment for rental or appreciation. It's for my personal use. Here's my rational to buy in Vasavi Sarovar: 1. I am opting for one time payment- OTP (with majority of personal savings, some family help and 15l of personal loan) and I am getting it in 6300/sqft with a scope of negotiation and project delivery is June 2028. So unit I am interested in 1660 sqft apartment which will approximately cost me around 1 Cr (without registratio, gst, maintenance etc). Note: Reaon I am opting for OTP is I am getting it in lesser price, plus I don't want to get into House Loan loop. Now if I go for some other projects, I need to pay much more for same apt and I can't finance that I need take housing loan and for loan, prices (20:80) for builders are different/higher. 2. I have seen their GHMC approval, RERA aproval and specially litigation department's NOC certificate starting construction is not in FTL zone and all the legal norms are taken care of. SBI and HDFC has approved loan for this project so far. 3. One notion I got from people that they always delay their handovers and majorly because they promise early delivery but they don't. But almost for all their project they're delivering in and around their RERA deadlines. 4. Thier RERA deadline for Sarovar Project is Aug 2028 and I am considering 6 months of grace period as well. So personally I am considering Jan-Feb 2029. That timeline is not a problem with me unless they deliver in 2030 or later. 5. Now all the other good builders are having 7500+/sqft even for project getting handover in 2028/2029. So if I opt for them then same 1650 will cost me around 1.4 Cr 6. I am expecting by the handover let's say in 2029, price of the unit would be around 9000+/sft if not more (Today ready to move in apt are 9500+/sqft in same locality- cybercity marina skies, oriana, Rainbow Vistas, Honer Signatis). So if I don't like what they've built or something I can sell it then with slight lower price than current market price of then. All in all, if I have opportunity to buy a 3BHK apt within my budget without taking housing loan from a Tier 2 builder and slight delay from their RERA deadline is not a concern for me. Is this a good decision or it's better to take from other builder/Project?4
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