Real Estate

You're right, Mumbai flats aren't purely depreciating. The value actually comes from a mix of the land price and the cost of building, minus any depreciation. Sure, buildings get older and may lose some value, but the land itself tends to appreciate by about 8-12% each year. Plus, there are policies that help with redevelopment, making it a solid investment.

Smart investors know to consider land and buildings separately. The land appreciates while the building might wear down, but as long as you have a good location, you can still do really well.

I’m hiring pros to handle the paperwork, so I can stop stressing over the legal jargon. Shouldn't I focus my energy on the selling strategy and timing instead? I want to make sure I’m actually maximizing my property's value.

You're so right about that. In smaller Tier-3 towns, high prices and low rents make it tough to own property, especially when needing a quick sale. Index funds are easy to manage, tax-efficient, and require no maintenance. Investing in index funds is usually a smarter and less stressful way to grow your money, unless you find an excellent deal on a house.

It's high due to rapid urban development, the Unit Area Value (UAV) system, and higher property values, especially in prime zones. All these factors contributed to increased property taxes. The BBMP municipal corporation frequently revises rates based on zones, usage, and property type, which ultimately increases the tax burden.

To get an accurate house value, use professional appraisals, check online valuation tools, and compare recent sales of similar properties. Consider market trends, location quality, and property condition to ensure a smart long-term investment.

For consistent income, REITs are a good option for rent and potential value increases. Direct investment in property requires active management.

There are some other options like the Senior Citizen Saving Scheme (SCSS), debt mutual funds, and RBI bonds. Investment in rental property is also a good option that provides you with steady income. Government schemes like fixed deposits and the Post Office Monthly Income Scheme will all provide fixed returns and also be risk-free.

Both land and REITs have their strengths and weaknesses. Land is good for long-term wealth. However, it requires a significant investment and a high level of patience. But REITs offer you more liquidity and steady income.

So for your father, REITs are a more suitable and hassle-free option because of their liquidity and regular payouts.

You can think about ITPL Main Road, Hope Farm Junction, or Kadugodi in Whitefield, depending on your tastes and budget. Additionally, Kaggadaspura and the Outer Ring Road are the best options for you in Marathalli.

Check this post to determine whether to choose an apartment or land: https://fincuss.com/topic/82/should-i-buy-a-property-or-a-flat/2?_=1730184450913

It is a great time to buying a property in Surat as there is a stable growth, which makes it a good time to invest in real estate as you have a stable income and savings. Its better to sell that old apartment as you are not going to live there in future. About your queries:

Buying a land means longer construction time, more involvement in the process, increased cost. But buying a new flat gives you a facility ready-to-move-in with less hassle. The real estate market is very dynamic. Waiting for a best property may be offers you great results but it may also mean missing up the best opportunities. Your financial status, market trends, property location, legal clearances, resale value, tax implications. These are some factors which you need to consider before buying property or flat.

Hi

For a real estate investment, you can explore tier-2 or tier-3 cities in Himachal Pradesh, Uttarakhand and Goa. Real estate may be volatile. You should diversify your investment for that you can investigate other possibilities like mutual funds, fixed deposits and even open a small business in your chosen location.

Fees you need to pay to buy a house:
Stamp Duty which is 5-7% of total property value. Then 1% registration fees of the property value. Some legal and handling fees are also there.
It's better to consult a property lawyer to understand all the possible costs.