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Arun kumar (Executive)     10 March 2013

Property on gpa

Hi,

 

I am planning to purchase a property in Delhi (chhattarpur) the property is havinh total 8 flats and all are sold out . My question is the property is on GPA. What is the risk involved in it as chhattapur is a proper resident colony and lots os people are staying there. I am salaried person so do not want to take a high risk....

 

Waiting for your valuable comments...



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 2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     10 March 2013

Do not Buy Property In Delhi which is leasehold on GPA as from now on any property on leasehold is totally Immovable and it wont be sold on Byana so such properties demand will go down and so will there prices as Investors (black ka paisa nahin lagega ) wont touch them. 
These have to be now converted to freehold and touts will make most money converting leasehold to freehold and since this takes time all GPA properties will get stuck which have been bought for trading by Investors for at least a year till they somehow get freehold and registered.
If you have a property bought before October 2011 convert it into freehold get mutation done in your name so that when you want to sell it you can easily sell it all said GPA areas prices will go down and transactions will rise in freehold areas. Worst hit will be unatuhorised colonies buyers especially those who just bought on Byana and did GPA .

Arun kumar (Executive)     11 March 2013

actually right now i am staying on a rent and paying 15000/month. So, i thought instead of paying 15000 as rent I can also pay 15000 towards personal loan and buy a property on GPA..I am not mainly concerned about appreciation or depreciation of property. It is mainly about risk. What is the main risk involved.


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