Budget Homes

Submitted by gsee on Thu, 2011-01-13 05:42. chennai | Current Affairs | Realty

Flats for 2 lakhs to 2.5 lakhs in Kundrathur, Chennai. Majestic Enclave offers such unbelievable offers.

Here is the plan. Those who are interested, have to pay 2 lakhs or 2.5 lakhs depending upon the SQ.FT they like. Flats are 2BHK flats from 700 SQFT to 1000+ SQFT.

The amount you pay is a deposit. After your payment, you have wait for next 3 years. Afte 3 years, builders will conduct lucky draw. If you are selected in the lucky draw, you will be awarded the flat. You have to pay the EB, Corporation, registration and other taxes. That's all. It is really a great deal for Kundrathur.

If you are not selected in the draw, your money will be return back. The big show of awarding flat to the winner(s) and returning back the money to the loser(s) will be conducted after 3 years.

To see your luck you have wait for 3 years. If you are lucky, you will own a flat which is 10 times worthier than the amount you pay now.

If you are not lucky, your 2 lakhs or 2.5 lakhs will be paid back. That's it, nothing to loose.

There are around 75 flats, and it is expected that there may be around 100+ participants for each flat. So there will be around 7500 people will be playing this 'lucky draw for flats'. The probability winning this lucky draw is 1 out 100 for an individual.

Is it a real boon for middle income or middle class people?

For a middle class man, his life time commitment is his housing loan EMI. Buying a house/flat is one time crucial effort in his life. He can not play lightly like his marriage :) .

Assume that, you are middle class man, you paid 2.5 lakhs in the hope that you will be selected in the lucky draw after 3 years. If you are selected, you are lucky. If you are not lucky, you have to search/hunt your new home after 3 years. Definitely prices of flat after 3 years will be higher than today. You agree to it.

This is not feasible for a man who will pay this amount by pledging his wife' jewel or from his several years of 'Stingy Savings'. If you deposit this amount in bank, at least you will get interest after 3 years.

This is good for the people, who take the risk of investing in shares worth 2 to 3 lakhs or who does not know what to do with his huge bank balance. It is really a good and great investment. If you are selected in the lucky draw, your investment will be increased to 10 times. If you are not selected, at least your investment will be secure. But you should have already own a home, car and etc. So that you need not hunt for home, if you are not selected.

This is good for the people who are settled or already own a home and want to invest their surplus money in a safe way.

For more details, contact: 91 9094766441