The Real Estate Journey of Gunjan Chaurasia: Insights for Buyers in Dubai
Gunjan Chaurasia, a long-time Dubai resident, recently made headlines with her significant investment in a four-bedroom villa located in Sharjah’s Masaar 2 community. With a purchase price exceeding Dh4 million (around $1.08 million) and a projected delivery date in 2027, her journey offers valuable insights for prospective homebuyers.
Choosing the Right Community
Gunjan’s decision to invest was influenced by more than just the allure of luxurious architecture. The array of amenities and facilities offered by the developer, Arada, played a crucial role in her choice. With a background that includes ownership of properties in Dubai’s Jumeirah Lakes Towers as well as in India and Canada, Gunjan emphasizes the importance of evaluating a community’s infrastructure before making a commitment.
“Always go for a good location and good building,” she advises. This principle is critical when weighing the pros and cons of a property investment.
Red Flags in Property Investment
In her experience, Gunjan highlights several red flags that potential buyers should be aware of during their property search. Her first red flag? Deals that sound too good to be true. “If a property is large but comes at a much lower price, something’s probably amiss,” she cautions.
Moreover, she points out that many buyers focus solely on the unit price but overlook essential factors like service charges. “Always check the price per square foot,” she advises, as a seemingly affordable unit may end up being disproportionately small.
Market Insights and Trends
Recent reports predict that Dubai’s real estate market may experience a "moderate correction" in the latter half of 2025. According to Fitch Ratings, residential prices could drop by as much as 15% this year, driven by a surge in new projects. Despite this forecast, industry experts remain optimistic about the market’s resilience, citing steady population growth and sustained housing demand as mitigating factors.
Purpose Behind the Purchase
Gunjan urges potential buyers to clarify the reason for their property purchase. “Understanding your purpose will guide your decision,” she says. Whether for investment or personal use, knowing your motivation is crucial.
P.P. Varghese, head of professional services at Cushman & Wakefield Core, supports this notion, emphasizing the significance of rental yields in investment purchases. Ideally, your rental yield should be able to cover your mortgage, providing a sustainable financial foundation.
The Developer’s Credibility
Another critical consideration for buyers is the track record of the developer. Gunjan warns against investing in projects from companies without a strong reputation in the UAE. Elena Yurgeneva, another property owner, echoes this sentiment, sharing her own painful experience with a developer whose project has faced multiple delays. The lack of clear communication often leaves buyers in a state of uncertainty, which can severely impact their investment.
Broker Credentials Matter
In Dubai’s well-regulated real estate environment, it’s essential to verify the credentials of any broker you work with. Farooq Syed, chief executive of Springfield Properties, advises buyers to request the broker’s RERA ID. Any lack of transparency or reluctance to provide this information should raise red flags.
Total Cost of Ownership
The purchase price isn’t the only financial aspect to consider. Buyers need to be mindful of the total cost of ownership, which goes beyond the initial purchase. This includes service charges, maintenance reserves, insurance, utility connections, and potential major repairs. Understanding these costs can significantly affect your investment’s long-term viability.
Due Diligence on Area Development
It’s equally important for buyers to conduct due diligence on the area development. Mr. Varghese recommends researching future infrastructure projects and zoning changes that could influence property values, helping prospective buyers make informed decisions.
Important Tips for Non-Residents
For non-resident investors, while there aren’t hidden fees, broker commissions and registration fees are part of the standard process. However, the paperwork can be extensive, and financial options may be limited. Non-resident buyers should prepare for a more complicated purchasing journey due to additional regulatory requirements.
The Essence of Informed Decision-Making
Ultimately, Gunjan Chaurasia’s journey illustrates the critical importance of thorough research, self-awareness about purchasing motivations, and careful evaluation of all aspects of a property sale. For anyone looking to invest in Dubai’s vibrant real estate market, her experience acts as a guide, emphasizing the significance of informed decision-making in safeguarding one’s investment.
