1 hr ago
Noida Flat’s Value Jumps From Rs 26 Lakh To Rs 42 Lakh
Vivek bought a small apartment in Noida in 2021 for Rs 26 lakh.
He bought it as an investment and did not plan to live there.
He furnished the apartment and rented it out through an agent.
The home was reportedly rented almost continuously for five years.
An agent later told him that someone would pay Rs 42 lakh for it.
That means the offer was about Rs 16 lakh more than what Vivek paid.
Even though the price increased, Vivek decided not to sell.
He said he did not need the money and had grown attached to the apartment.
His story led other people online to share their own property-investment experiences.
Vivek bought a 1 BHK Noida flat for Rs 26 lakh in 2021 as an investment.
He had the flat furnished and rented it through an agent.
The property reportedly stayed occupied because it was near the Delhi and Noida metro networks.
An agent recently said a buyer was offering Rs 42 lakh for the flat.
Vivek declined to sell, citing no immediate need for money and an emotional attachment to the property.
- Who
- Vivek, the Noida homeowner, and an agent representing a prospective buyer.
- What
- A 1 BHK flat bought for Rs 26 lakh reportedly received a Rs 42 lakh purchase offer.
- Where
- Sector 52, Noida, near the Delhi and Noida metro stations.
- When
- Vivek bought the flat in 2021 and received the offer five years later, according to the article.
- Why
- The reported offer reflects rising property values in Noida; Vivek chose not to sell because he did not need the money and had become attached to the flat.
Key facts
- Purchase price
- Rs 26 lakh
- Purchase year
- 2021
- Property
- 1 BHK flat in Noida
- Reported offer
- Rs 42 lakh
- Reported return
- Approximately 61 per cent over the purchase price
- Rental status
- The flat was reportedly never vacant for more than a week during the last five years
- Owner’s decision
- Vivek said he would not sell the property
Quotes
Vivek
Noida homeowner and property investor
“The agent called 2 days back saying someone is offering 42 lakhs to buy it. I am not going to sell it because I don't need the money now and somehow I became emotionally attached to it too!”
NDTV
“I purchased a 1 BHK flat in Noida for 26 lakhs in 2021. Since I was never going to live there, it was purely an investment (no emotional baggage).”
NDTV
Sources
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