How much rent can 30 lakh flat fetch ?
The growing trend among IT folks now has being the need to keep ship steady during un-certain times. Some call this as rainy day funds or emergency funds, but it is always helpful is one has a legal steady residual source of income on a monthly basis.
Over the years, interest from FD’s, Monthly income scheme’s all proved that the returns are negligible with no capital gains.
A lot of folks are turning towards rental incoming as a sure shot way to get additional funds which can become primary when there is job loss or discontinuation for higher studies
Coming to the question, what are the investment options currently available which are low on investment and decent on returns?
A workable example below
Investment: Rs 25 lakh to 32 lakh
Location: Ramapuram. This property is sandwiched between Asvini Amrisa and Navin’s Subhamangala. It cost around 50 lakhs for a 2 bhk in Asvini or Navin’s.
Property: Marvel Apoorva
Flat Size: 611, 641 ,811 ( All 2 bed)
Rental Range: Rs 7500 ( 611 sq ft) to Rs 10000 ( 811 sq ft).
USP: Gated community, 234 apartments, higher UDS flats, Flat is less than 10 yrs old, decently maintained, low maintain per month ( Rs 600 to 800), Lift, RO, Children’s play area, open car park.
High demand for rental property. DLF, L&T , SRM, Olympia IT park folks, SRM , MIOT hospital.
Ramapuram is center of Chennai. Can reach most of the places within 30 min or so
This is a value buy.
Cons: Looks bit congested.
You may need to spend a bit on refurbishing the flat ( Rs 20000 or so)
More Information: http://www.macromarvel.com/rama.htm
Disclaimer: I don’t own a flat here.