I live in Bangalore, so let me tell you that flats generally have good resale value, but they vary based on some important factors like location, condition of the property, amenities, road connectivity and others. Properties from reputable builders or in gated communities with quality facilities call for higher resale prices. So my answer to do flats have resale value is yes and let me elaborate on why I say so.
Do Flats Have Resale Value in India?
In general, flats have good resale value in India, especially in developing cities like Bangalore, Mumbai, Pune, Hyderabad and more. People from all over the nation are flocking to these cities in huge numbers; as a result, the real estate market and demand for properties are increasing here day by day. As a result, people in general are interested in investing in both new and old properties.
If you buy a property, be it new or old, and sell it later, you are bound to have a good return on investment. But yes, you need to know that the factors that affect the resale value of a flat are:
Age and Condition
If the property is way too old and not in good condition, it might fail to fetch a good value, but even if the property is 10 to 20 years old, it is expected to have a resale value of around 58% of the current market price.
Location
Flats located in a good locale, especially near IT hubs, enjoying good have higher resale value.
Developer reputation
If the flat has been constructed by a renowned real estate developer, it will fetch you a good resale value.
Other factors include amenities, demand, area development and others.
Avail NoBroker Buyer Plan to Invest in Verified Properties at ZERO BROKERAGERead More:
What will be the resale value of 20-year-old flat?
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Do Flats Have Resale Value?
Sara
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6 months
2024-11-29T09:15:15+00:00 2024-11-29T09:15:15+00:00Comment
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