Let's say you are earning ~ 2 Lakhs per Month, living in Hyderabad.
You have No savings - Bank balance Zero and U want to Buy some property With Loan or By saving up something.
The real estate is skyrocketed. So the rates are higher not sure whether it will shoot up again from this point or alteredy reached its peak and will be staggered for a few months or stable.
In this situation you are planning to buy a property. Will you
Share your thoughts, what would you do and Why ? (P.S Consider you are in Hyd)
Not knowing much specifically about Hyderabad Real Estate scenes.
But in general you should go for an apartment in a gated community or a villa in a gated community.
If you go for the latter, ensure that the land is not on lease and will be considered your property.
I am on similar bus.( Same bus)
Some things I am clear about: No point in buying apartments/flats. So left with independent homes and plots. I am also considering commercial shops. Also iam not a big fan of living on outskirts of city.
I am planning to buy independent in next 3-4 years( in the city, not Gachibowli/raidurg/manikonda like areas). Next 6 months planning to buy a small plot for ~10/12 lakhs and let it appreciate till next 3 years.
Meanwhile, if my job supports and I get promotions. I will reach the target sooner. Maybe buy a small commercial shop as well.
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