Hot Deal How to start a business with ₹15 lakh money in 1300sq.feet flat in city ?

378°
Deal Cadet
3
616
53

Hi friends,

I have a 3 Bhk flat of 1300 square feet,1st floor in residential colony in center of Patna. I have ₹15 lakh in my saving account given by my family to use. I have done MBA from a local college, but I am not getting job because of no work experience. I am 34 years old now.


I want to start a small business now, but unable to take decision on my own. I am not getting any idea what to start and how to start. I am totally blank and getting depression now. persevere confounded

I have one empty flat which is use for guest sometime. Its 20 year old building. But Now I want to use that flat for some business. (Its located main center of Patna. Airport is just 2km far, and railway station is 1.5km. All major bank branches are there, Republic TV office, Flipkart warehouse) Its kind of metro city now.

I can not give this flat to any renter as its not registered yet, only have agreement paper. Here most of people are living without registration. So dont suggest me to give this flat for rent. Many people are using their flat for some consultancy like engg/medical admission/job counselling :/

Guys what scope I have so start here ? And I can increase my budget if there is no loss in business. My family said, take risk of ₹15lakh to start something small. I am loosing confidence in life, I want to make some money.



Please guide me.. neutral_face

27 Comments  |  
12 Dimers
  • Sort By
239
1295
7

Can you mention types you business you might be interersted?

Answer this questions might help you get started.

1. What to do local business or intra-state, inter-state?
2. If local, what is the main market in patna, high demand in patna, limited supply or easily to get and re-sell?
3. Is the business you want will be product based or service based.
4. If service based, Can you do provide some service, which you expand gradually with more people hired.
5. Have alternative to see how you can get the flat registered along with your business (primary goal).
6. If product based business, see how can you store goods in 1st floor, is it feasible to store the same in 1st floor, labour cost etc.

If you have answers to 1st 3, Many dimers including me can help you get started somewhat.
You just need to answer 3 main question.
1. What Product or service
2. How can you procure that
3. Where can you sell that.

62
1222
4

I can not give this flat to any renter as its not registered yet, only have agreement paper. Here most of people are living without registration. So dont suggest me to give this flat for rent. :/
Flat is not registered yet? Don’t worry man things will work out.

51
418
1

If its not registered you can’t legally use it for business either
And what’s the hurdle in registration ?

3
616
53
InvestPotato wrote:

Can you mention types you business you might be interersted?

Answer this questions might help you get started.

1. What to do local business or intra-state, inter-state?
2. If local, what is the main market in patna, high demand in patna, limited supply or easily to get and re-sell?
3. Is the business you want will be product based or service based.
4. If service based, Can you do provide some service, which you expand gradually with more people hired.
5. Have alternative to see how you can get the flat registered along with your business (primary goal).
6. If product based business, see how can you store goods in 1st floor, is it feasible to store the same in 1st floor, labour cost etc.

If you have answers to 1st 3, Many dimers including me can help you get started somewhat.
You just need to answer 3 main question.
1. What Product or service
2. How can you procure that
3. Where can you sell that.

1- I can do Local and might go for intra.
2- Here everything is available like delhi, Tiles,Sanitory bathroom fittings, clothing, resturant, cafe, all kind of FMCG.
3- either
4 yes, I am ready for that, here service like urban clap is lacking.
5 flat is mine, already paper works are going for mutation.
6- yes, it has lots of space to store products, 1300sq feet. 3 rooms, big hall. and easy to reach on 1st floor.

1 – I have no idea, what product or service can be provided here
2-
3- in Patna, 15km diameter range

I have no idea what to start here, thats what I am asking.

3
616
53
hsmhsm wrote:

If its not registered you can’t legally use it for business either
And what’s the hurdle in registration ?

builder (A) sold to person (B) in 1990 and during half payment builder died in an accident
and B sold to us © in 2000 with agreement. So mutation is still pending. It will take time, already submitted all paper for A to B & B to C for unilateral mutation.

Thats not an issue, that I can not use this property, already previous owner “B” had given all paper to us and we r living here from 20 years.
239
1295
7
Expand
kool wrote:

1- I can do Local and might go for intra.
2- Here everything is available like delhi, Tiles,Sanitory bathroom fittings, clothing, resturant, cafe, all kind of FMCG.
3- either
4 yes, I am ready for that, here service like urban clap is lacking.
5 flat is mine, already paper works are going for mutation.
6- yes, it has lots of space to store products, 1300sq feet. 3 rooms, big hall. and easy to reach on 1st floor.

1 – I have no idea, what product or service can be provided here
2-
3- in Patna, 15km diameter range

I have no idea what to start here, thats what I am asking.

See there will be n number of things you can sell.

My question was you need to decide what suits best with you. TIles and FMCG might not go hand in hand.

Spend a day or two, think about the options and ask your relatives in same kind of business but in different location take some help from them.

148
8458
45

Take gst number start selling on Amazon and flipkart

151
2667
12

Furnish your flat, convert it into living studio and give it to AIRBNB. As you said its very close to airport then its great location for a living studio.
Now to invest 15L you need to do lots of market research.

51
418
1
Expand
kool wrote:

builder (A) sold to person (B) in 1990 and during half payment builder died in an accident
and B sold to us © in 2000 with agreement. So mutation is still pending. It will take time, already submitted all paper for A to B & B to C for unilateral mutation.

Thats not an issue, that I can not use this property, already previous owner “B” had given all paper to us and we r living here from 20 years.

I moved to a rented accomodation but owner is reluctant to make an official agreement despite promising. I noticed while paying the electricity bill that meter is registered in another individual’s name. Do you think it could be illegal for owner to rent it officially ( may be unregistered) so he is not interested in official agreement ?

141
1435
85

Registered on airbnb, or open a pg / dormetory / cheap room service.

3
616
53
Expand
hsmhsm wrote:

I moved to a rented accomodation but owner is reluctant to make an official agreement despite promising. I noticed while paying the electricity bill that meter is registered in another individual’s name. Do you think it could be illegal for owner to rent it officially ( may be unregistered) so he is not interested in official agreement ?

that person might be just a middle man. And flat is not registered to him

3
616
53
titamazon wrote:

Registered on airbnb, or open a pg / dormetory / cheap room service.

But I am thinking different, to start a small business, something like storing medicine and B2B medium

0
15754
395
Expand
kool wrote:

builder (A) sold to person (B) in 1990 and during half payment builder died in an accident
and B sold to us © in 2000 with agreement. So mutation is still pending. It will take time, already submitted all paper for A to B & B to C for unilateral mutation.

Thats not an issue, that I can not use this property, already previous owner “B” had given all paper to us and we r living here from 20 years.

One of our flat is in court since 7 years as bulider’s partnership ended before registry could have done and both denied registry back in 1995. trust me registering sell deed on that property will become impossible task for you. still it’s time to go to court and file a suit of specific performance. this will take it’s own sweet time but you can atleast have a sound sleep and can liquidate your property anytime.

51
418
1
Expand
kool wrote:

that person might be just a middle man. And flat is not registered to him

How can you say that flat is not registered to him ? hushed

3
616
53
Expand
hsmhsm wrote:

How can you say that flat is not registered to him ? hushed

you can check person name of  holding tax of municipal corporation.

51
418
1
Expand
kool wrote:

you can check person name of  holding tax of municipal corporation.

Do I have to go to their office or can it be done online ?
I wanted to know what prompted you to say it’s not registered to him ? grinning

0
15754
395
Expand
kool wrote:

you can check person name of  holding tax of municipal corporation.

wrong. a person can pay property tax on agreement of sale. i am paying tax on unregistered property since past 4 years. only after my lawyer asked me to do so, to make case more perfect in court.

there is no way a person can check sale deed is done or not. only khasra khatauni records can prove it but no one will care to find if it is done on any ptoperty or not until he or she is interested in buying it.

51
418
1
Expand
marketdimer wrote:

wrong. a person can pay property tax on agreement of sale. i am paying tax on unregistered property since past 4 years. only after my lawyer asked me to do so, to make case more perfect in court.

there is no way a person can check sale deed is done or not. only khasra khatauni records can prove it but no one will care to find if it is done on any ptoperty or not until he or she is interested in buying it.

If the meter is not registered in the name of so called owner means his flat is unregistered ?

0
15754
395
Expand
hsmhsm wrote:

If the meter is not registered in the name of so called owner means his flat is unregistered ?

electricity connection can be taken on any document which proves ownership and that includes sale agreement. and usually agreement to sale is basis of connection as person coming to stay will require electricity on possession from 1st day and sale deed happens after possession certificate is pfovided.

51
418
1
Expand
marketdimer wrote:

electricity connection can be taken on any document which proves ownership and that includes sale agreement. and usually agreement to sale is basis of connection as person coming to stay will require electricity on possession from 1st day and sale deed happens after possession certificate is pfovided.

But if original owner sells flat to a new owner , doesn’t elect meter along with flat get registered in new owner’s name ? (after registration)

0
15754
395
Expand
hsmhsm wrote:

But if original owner sells flat to a new owner , doesn’t elect meter along with flat get registered in new owner’s name ?

let’s not make thread off topic. and electricity meters are registered by person staying in that home and not by registrar. how come registry can be proved by any bills? those can be forged too. real ownership lies in 3 important papers which are sale deed, khasra copy and mutation. other than these no paper can prove real ownership of property.

57
9665
124
Expand
marketdimer wrote:

let’s not make thread off topic. and electricity meters are registered by person staying in that home and not by registrar. how come registry can be proved by any bills? those can be forged too. real ownership lies in 3 important papers which are sale deed, khasra copy and mutation. other than these no paper can prove real ownership of property.

mumbai main flat purchase – stamp duty registration tds by buyer

electrcity name can be changed by new owner and the old owner can apply for refund of security deposit

51
418
1
Expand
marketdimer wrote:

let’s not make thread off topic. and electricity meters are registered by person staying in that home and not by registrar. how come registry can be proved by any bills? those can be forged too. real ownership lies in 3 important papers which are sale deed, khasra copy and mutation. other than these no paper can prove real ownership of property.

Agreed ! I found this :
Transfer of Electricity Meter in your name is important as the electricity bill is one of the valid proofs for residential address and the property owner.
Enclose a copy of sales deed along with your application for transfer of Electricity Meter.

https://www.commonfloor.com/guide/transfer-elec...

Also :

In case of transfer of rights or ownership of property, consumers are advised to transfer the ownership of the electric connection to new owner, in order to safeguard their interests. An application regarding a service connection e.g. revising connected load, phase conversion, tariff change, billing disputes etc. will normally be processed only if the registered consumer is the applicant. It may be borne in mind that registered consumer will be held responsible for the omissions and commissions by the transferee.
https://www.kseb.in/index.php?option=com_conten...

The new owner would definitely do it after registering his flat as it costs little and removes all hassles. Also the previous owner would insist on it.

So electricity meter in old owner’s name is a clue that flat may not be not registered to new owner as transfer requires sales deed.

0
15754
395

Btw, @kool bro, that flat is rent (with agreement) to 3 different people since 12 years without any issue. Make sure you get a good tenant and family people who just want to stay and not grab your home. wink

110
2468
109

Business can’t be run on borrowed conviction bro. Competition is so stiff for each & every sector so its not easy.

Best thing is to understand local need & identify gap. Read book “This happened in India” by Kishor Biyani (ex- Big bazaar owner) about how he identified people mentality etc. This might help u.

137
671
8

What about organic farming

Missing