Posted: Tue Mar 17, 2009 12:06 pm Post subject: Sell or rent your Kochi flat
When you relocate to another city or country, one of the important questions is, should you sell your Kochi flat or rent it out? What's better financially? Should you sell and take the profit? What if you hate the new place and want to come back? You won't have a house. There are a number of awful stories about people, who sell their home when they move then come back and can't even afford a studio. Your stakes may be higher for the flat you own is now worth three times your buying price. Selling now will lock in your sizeable gains, but could price you out of the market if you return in a year or two.
The situation isn't unique. Many move from city to city every day, with a weak job market, many are moving to various places to find jobs. Most job seekers were willing to reallocate for employment.
Selling one's home is usually a necessary step in affording a new home, but for various reasons some people choose to rent out their homes instead. In some instances, people know that they'll be leaving only for a year or two — perhaps while they take on a specific project at work. Sometimes the would-be seller simply can't sell at an acceptable price, so he waits until the market picks up. A more likely scenario these days, however, is that the owner wants to hang on while property values continue to soar. Others just want to keep their old home until they're confident they won't be coming back. But for the people of Kerala there is another unique opportunity coming up, and you may want to hang on to that property/flat you have for a little while.
Dubai's Internet City will set up the Smart City in Kochi, Kerala soon. Though Several states like Andhra Pradesh, Karnataka and Tamil Nadu were after it, finally Kerala bagged the project.
The Smart City, expected to create more than 100,000 new jobs in the first stage and around 5 Lakhs jobs directly and indirectly in the last stage, would provide critical infrastructure for IT services and IT-enabled service companies. The smart city provides Kerala with a great opportunity to compete with other states of India in the field of Information Technology.
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