Moving into a new house

Finally, after years of trying to buy a house and meeting with challenges and almost got it instances, we’ve done it. We’ve managed to purchase an apartment in Sector 47, Gurgaon and move in there over the weekend. Here are some of the high- and low- lights of the transition as well as some pointers for those planning to purchase a house.

  • It took us 3 years of searching, negotiating, fights and sleepless nights off and on to buy a house in Gurgaon.
  • For all those media people who claim property prices are falling, they’ve got their heads in the clouds - prices in Gurgaon are atrocious.
  • The apartment at a total built-up area of 2615 sq.ft. and covered area of 2365 sq.ft. is large compared to the most of the other apartments at the budget we had. Fairly well planned out other than the placement of structural beams and columns.
  • We had to spend a huge amount of money more to get all the woodwork, electrical fittings, plumbing and painting done. Never trust the builder’s work in any of this.
  • Make sure you apply for a home loan well in advance. The more the documentation you can provide, the faster the loan can get processed. Have scanned copies of anything and everything you can think of.
  • Woodwork takes x*1.5 days at least where x is the number of days promised to you by the carpenter.

Anyway, I’ll put up some shots of the house soon. We’re still living out of boxes for this week while some plumbing and electricity stuff gets done.


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December 6. 2008 08:33

Venkatarangan TNC

Good Luck Vinod, I am happy for you.

The prices in Metros (NCR = Delhi) haven't fallen down due to the limited / pre-defined space available. Outside Metros it seems to have fallen by 20% at the minimum. In Chennai, I find lot of the new commercial and residential properties empty for long, as there are no takers - but builders are hopeful of a miracle in the next few months and are hoarding them for now.

Venkatarangan TNC

December 8. 2008 01:43

vinod

Yup exactly the same here. Entire residential projects are lying empty - but builders are not willing to lower prices at all. They prefer to hold on to the property till the market "recovers".

Investors too do not want to sell before making a handsome profit. Sadly this chicken-and-egg scenario makes purchasing a house a nightmare.

vinod

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January 6. 2009 18:15