When is a right time to sell and buy movable and immovable assets as per the changes in Govt policy In life , we have come across many situations when we wanted to buy some major item, we are always short of one Dollar and when we want to sell something, people give us very unreasonable low prices.
Pls narrate your life experiences both positive and negative if you ever regretted your decisions in buying or selling assets due to drastic changes in Government policies.
In this context, let me give my life experience that happened now. Story of my Movable asset: I have been thinking of moving back to my native place Visakhapatnam after I have taken voluntary retirement from IT company in Bangalore few months back. I have a 2 year old KA registered Innova Crysta Diesel automatic top end Z model. The challenge now is how to get AP registration done for my Crysta without loosing too much money (getting life tax refund from KA Government is an uphill task after paying AP Government life tax). I did my research on team bhp and finally concluded of the best option is to sell vehicle in Bangalore and buy new vehicle in Visakhapatnam. I called Ravindu, Toyota dealer in Bangalore with whom I had a fantastic buying experience 2 years back. An expert from the dealer came on the same day to my home and inspected my car and said Ravindu Toyota U Trust would pay me 1 lakh more than the invoice price ( normally we have 30% depreciation but it is minimal because automatic Crysta is a prized possession now due to its discontinuity by Toyota). I was surprised on how easy it is for me to take decision. I gave the car keys and signed on a couple of papers and money deposited in my account in 1 hour.
Now, what is my next car.Toyota is no more manufacturing automatic Crystas and our Government random press releases of Diesel ban is scaring me to buy another Diesel vehicle. Another important requirement is that I need a 4X4 vehicle to travel to farm house in Araku which requires a bit of off roading ( hill station near to Visakhapatnam 3000 ft above sea level). Once , I got stuck on a bad patch of rural road in Crysta and concluded that 4X4 is a must and India has majority of roads especially rural with no proper tarmac.
As usual, I did my research on Teambhp and decided to buy top end Jimny automatic. I called on phone to my childhood friend in Visakhapatnam to go to nearest Nexa show room and check on how many days they would take to deliver Jimny top end automatic model and how much is the discount.
To my friend’ s surprise, the Nexa show room head in Visakhapatnam touched his feet in respect as he happens to be his beloved student long back. All staff in Nexa were surprised. My friend called me and assured that I will get the best deal possible with VIP treatment. I took a quick decision and the Jimny alpha automatic Petrol car was delivered to my friend in a matter of hours while I am sitting in Bangalore watching on video. I was warned not to move the car to Bangalore with Temporary registration of AP as I may face issues at border in Karnataka. I decided to wait for a couple of days until the number plates arrive. Story of Immovable asset: Now the car issue is resolved, the next challenge is on how to sell my Bangalore villa and move to my ancestral home on beach road in Visakhapatnam. Karnataka Government increased guidance values by 50% from October 1 ,2023 and hence there is a mad rush of buyers queueing in at sub registrar office (with extended working hours due to huge rush) to buy homes. I own a villa in a walking distance from the first IT park in India called ITPL. I have put up a posting on No Broker portal that a villa is for sale with furniture and with in few hours, there were 50 calls from potential buyers ( may be they are attracted by the photos of my villa which has designer solid wood furniture brought from USA in a container on official and paid relocation by my employer ). The potential buyers are prepared to buy at 3 times what I paid ( The market value of Villa was almost 0 % appreciation one year back due to pandemic).
Meanwhile, my son who is one of the youngest PhD in CS and one of youngest faculty in top 5 universities in USA asked my advise if this is right time to buy his first car and a first multi million dollar home with long term loan commitment ( Audi A5 sports back and beach front home in San Diego). I advised him that there is no good or bad time to buy assets and asked him to go ahead in the way his heart is pointing. We all are aware that USA is on the sure path to recession after USA elections but this should not stop anyone from taking decisions now.
Last edited by Mystic : 11th October 2023 at 06:41.
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