NRI - Construction for generational wealth
NRI in late 30s, Owning a semi-residential plot which is now worth 3.5Cr, I am thinking of construction (G+4+P) which is costing me approx 2.5Cr, I will fund the entire project completely from my savings.
I have no plans to sell the land or
Flats, As I delay the construction due to inflation it is costing me more in future..I am thinking of renting the flats or whole building based on prospect I receive during the time..expecting rental around 1.2-1.5l/month
My plan is purely for generational wealth, I have Job and other investments which will continue to fetch income..Currently I have money, energy and time to work on this project..I can travel once in 2 month for project to oversee, also I have ppl who can look for ground progress every week.
I understand there are better investment options such and mutual fund and stocks which I am already invested in however based on last 10 years I am not satisfied with the appreciation I received against it.
I am looking for ppl in this community who has gone thru similar situation or can share their feedback. Thank you.