Unauthorised Trades by Stock Brokers: Unauthorised Trades by Stock BrokersI believe th...

Unauthorised Trades by Stock Brokers: Unauthorised Trades by Stock Brokers

I believe th...: Unauthorised Trades by Stock Brokers I believe the topic may be of an interest to all the investors who have entrusted the brokers w...

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From horses mouth …. No cut paste this is my experience – if helpful – do let me know - thanks for reading

My First blog.... Appreciate your feedback and inputs ..... completed this in less than 10 mins ... may have missed something valuable .... Thanks in Adv... :)

Posted it at below site but I was banned... :)

http://www.indianrealestateforum.com/pune/t-from-horses-mouth-no-cut-paste-this-is-my-experience-if-helpful-do-let-me-know-7229.html

Below are my 2 cents from my exp
1) Do not go with Launch offers - I had booked with 2 very reputed builders whose entire scheme was sold off during launch and I thought property prices will rise but now today the prices are still same / lower ...as 2 yrs back and yet to get possession... ppl who didn’t book were wise as they are sitting on cash, earned interest or didn’t pay interest for part disbursement.

2) Only buy ready possession houses - there is no point on loosing sleep over false builders commitments - ours is hard earned money and we should know how to use it wisely ... we only buy fresh vegetables don’t we ... or we pay to farmer in advance on his commitment of delivery of good n fresh vegetables - apply same rule and u will gain better - lets not be cattle and follow crowd - today lot of ready possession apartments are available - best is on net you know pros and cons of same ... Like we know for Fortleza - Kalyani nagar of Raviraj-kothari group. (Just google for this and see results you get)

3) Do not buy to rent it out - u get better returns else - even on FD's or PPF it is better with no flats less than 30Lac .... even if you have 30% available for down payment ... I will say put it in FD and get 8% as 1 BHK will not fetch u 24K as rent .... Cash in hand is best

4) IT benefit is not here to stay and it is only good for loan up to 15-20 lac .... beyond that what interest you pay and what u get as real value of apt after entire loan is repaid is totally different. More over no more IT benefit for house after 2011... that is just one year man .... even 8.5% fixed is too much ...

5) Property Appreciation is history - Today's reality is .....(Take home sal) -minus ( EMI[house+car] + monthly house exp + LIC/ULIP payment + kid education + once in while dinner + if possible vacation ) = outstanding balance on credit card ... no savings .... And yes... if you have assumed that you have very secure job with 20% raise every year

6) No I am not saying do not buy house and keep paying rent - I am saying do your through Homework .... dont let any one cheat you of your hard earned money and spend it very wisely - if you have spent 2-3 yrs in accumulating for your downpayment and will spend 5-7 yrs in paying off loan - why hurry to finalize something immediately - spend time in evaluating - write down your requirements on paper and dont get distracted by anything like free stampduty, reg, car-park etc

For eg: My Ideal checklist will be:

1) What is carpet area i will get to live in finally?

2) Divide carpet area into final price and arrive upon real price?

3) what us actual to charged cost of MSEB, Maintenance, Carpark? (Most this list is illegally charged)

4) Does it have corporation water - or every one is buying so will I? or it is available for 6 -2bhk flats but my building has 30 - 3bhk

5) Cost of staying there - We pay maintenance per month and then we again pay for water tanker, generator backup (diesel), club usage, I know a builder have given clubhouse and swimming pool to prof agency to run their club and society members are paying for using it ... remember you have to give it over and above your EMI paying for that apt...

6) Does this apt have proper connectivity, road ? - think of emergency to call ambulance or ppl to travel form Airport , railway stn.... if they arrive at odd hrs will anyone bring them to your apt.

7) Security - can I peacefully go on business trip leaving family back home

8) Can I afford to pay EMI in future as well - expenses keep going up and in case market goes down again, remember salary cuts, recession fears etc

9) What is cost of interiors - i.e. to get apt to make it livable - i have seen min Inr 100 - 500 per sqft spent on livable interiors i.e. INR 4-6 lac for 850 sqft carpet apt

10) Are basic needs like grocery / medicals /auto / maids / servants / take away available in that society easily?

Friends we all have full time job and cannot have bandwidth to fight with builder or do court case / police compliant against builder where as cheating has become full time activity of some builders so - pls. be very cautious .... think thrice before you make final decision .... as it is one way road ahead and u have to pay huge fine for U turn !!!