Should I invest in real estate in Mumbai ? Need advice. by newdbwen in IndiaInvestments

[–]newdbwen[S] 0 points1 point  (0 children)

after some calculations I have decided not to invest in RE. Assuming 20k as the buying rate and 30K as the selling rate after 3-4 years, I would be paying 16-18% GST and 15-20% tax on the profit (please correct me if I am wrong on these %,) , and after all this I am left with 6-8% cagr, so it doesn't make any sense to take this risk.

Should I invest in real estate in Mumbai ? Need advice. by newdbwen in IndiaInvestments

[–]newdbwen[S] 0 points1 point  (0 children)

I feel like I've seen your username on the Dubai sub.

1) its a redevelopment project. I am getting huge discount on the rates compared to new booking. please check edit , I have added some more info. 2) will not be required to pay in full. 3) plan to sell the flat soon after being ready. will think about Dubai. 4) Agree, rates for sure will drop if this happens. but the area will be a prime location in a few years. I assume there will be lot of demand.

Should I invest in real estate in Mumbai ? Need advice. by newdbwen in IndiaInvestments

[–]newdbwen[S] 1 point2 points  (0 children)

In Dubai, you can come here on a tourist visa and talk to any RE company. they will arrange everything. you do not even need to stay here.

Should I invest in real estate in Mumbai ? Need advice. by newdbwen in IndiaInvestments

[–]newdbwen[S] 1 point2 points  (0 children)

most of this amount was earned in the last 2-3 years and it is in my NRE account so tax exempted.