Advice for selling ourhouse(not primary) for better investment avenues?
We, a family of 3 have 3 houses in Mumbai. Two of them are on the verge of getting redeveloped. The third house is recently redeveloped. Hence, the price has increased up by 10%. It’s a house worth 1cr, and hasn’t appreciated mich in the past years. We have put it on rent, which returns us 2% net per year. I don’t see the property seeing any more appreciation any time soon. On the other hand, if we wouldn’t buy a new property post selling this, we would be incurring LTCG of 20% on about 75% of the selling price.
Any insights would be helpful.