NRI posted on Reddit that the family is opposing his decision to sell, however, since he is out of India he does not wants to go through redevelopment process

A Non-Resident Indian (NRI) has taken to Reddit to seek views on his decision to sell his 2BHK apartment in Navi Mumbai before his housing society undergoes redevelopment. While his family opposes the sale, he prefers the certainty of selling the property now rather than relying on future redevelopment promises. Several Reddit users supported his decision, citing the risks, delays, and uncertainties associated with redevelopment projects.

According to the Reddit post, the flat is in Navi Mumbai and is expected to undergo redevelopment. The owner said he was considering selling the property before redevelopment begins, while his family members opposed the idea. The family’s reluctance to sell appears linked to the potential benefits of redevelopment, including the possibility of getting a larger or upgraded apartment in the redeveloped project.

"Since I am outside India, I keep discussing it with friends and family, and they're firmly against the idea of selling it. They say, you will get way more by holding, but they don't understand that I don't want to wait 5-8 years. What if it gets further delayed? Usual society khich-khich has begun, and it's annoying for me," the user posted on Reddit.

According to the post, the homeowner gained good appreciation on the property and plans to sell it.

"It's not like I will take this money to the afterlife. Life was kind, we are already making a profit. I don't want to seem ungrateful, but I'm just trying to move on with my own life and do the best with whatever money I get for the flat. But the opinion that someone else will "get my profits" is making friends and family hostile and non-cooperative," the user said in the Reddit post.

The user also wants to sell the property because his personal situation is very different. "I am outside India, aging parents in a different state. I am also expanding my business and need funds. My aunt also has a flat in the same society and I am helping her sell it too, as she is too old to manage it," he said.

Several Reddit users favored the sale, particularly if the owner is not emotionally attached to the property and does not intend to live in the redeveloped apartment. Some users also pointed to the importance of assessing the redevelopment agreement, the developer’s track record and the additional area being offered before deciding whether to hold on to the property.

"You have a great point which is the hold period being long, possibility of it getting delayed if the developer is not very reputed, and the emotional and mental stress that comes with it. You can always try and sell the flat at a premium given the building is going under redevelopment. If the redevelopment terms are finalized I.e. If you know how much extra area and corpus you are getting then bake that into the price. There will be buyers who would be interested," user replied on the post.Real estate experts say redevelopment can unlock higher resale value because homebuyers generally prefer newer buildings with amenities such as parking, security systems, and updated infrastructure. As a result, apartments in redeveloped projects often command a premium over those in older buildings in the same neighbourhood.Uncertainty abroad is and will cause NRIs to want to secure a home base in India. We expect to also see the same pattern from US-based buyers for immigration-related reasons. Last year, about ₹350 billion flowed from India into Dubai real estate. A material part of that will now stay in India,” Lodha said during the company’s investors’ call for Q1 FY27.