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Old 20th November 2009, 23:06   #151
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[quote=Wolfheart;1588824][quote=mmmjgm;1585768]

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Originally Posted by sumeethaldankar View Post

Apart from the access issues, do you guys think that Royal Palms is a good deal? Considering the fact that the rates are comparatively lower, is there a scope for appreciation in the next few years?
Wolfheart.

For appreciation, there are better places in Mumbai. (dont step in as an investor)

2nd check the status of the conveyance of the land whether the land has been conveyed or not.
3rd Check BMC permission,
4th Most important check for FSI approval.
5th - only buy if you want to use the place. It's useless to stay there.

This is an investor's opinion and i completely agree with it.

Cheers
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Old 21st November 2009, 12:37   #152
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[quote=mmmjgm;1593563][quote=Wolfheart;1588824]
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Originally Posted by mmmjgm View Post



Wolfheart.

For appreciation, there are better places in Mumbai. (dont step in as an investor)

2nd check the status of the conveyance of the land whether the land has been conveyed or not.
3rd Check BMC permission,
4th Most important check for FSI approval.
5th - only buy if you want to use the place. It's useless to stay there.

This is an investor's opinion and i completely agree with it.

Cheers
Thanks for the advice what you say makes a lot of sense. I'm a total noob when it comes to real estate. The thing is that I'm a sucker for nature and space. I got really tempted by RP because of the proximity to forest. Though the surroundings and the isolation would be a valuable advantage for me I would also like to make a sound investment. A friend also got a flat in Charkop recently with a magnificent view of mangroves and the gorai creek.

If you're aware of any similar projects between Bandra to Borivli which would be better from the investment angle please feel free to enlighten me.
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Old 21st November 2009, 12:48   #153
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Default Taj Expressway Residential Plot Scheme

Query for Noida residents.

I was looking for a plot in NCR region. Noida interests me more than Gurgaon. Lately the Taj Expressway plot scheme results have come out. The Plots were issued at a price of 4750/- per sq mtr.

Immediately after the results the plots are being re-sold at a premium of about Rs. 1000/-.

Do you guys think it will be a good buy as the rates are still ok as of now. Whats the possibility of appreciation say in 10-12 yrs time. Will it be a good investment on later stages if we decided to sell it off??

Regards

EDIT: Just checked and the some property dealers are asking for 2000/- premium. Is it still worthwhile in longer run???

Last edited by deky : 21st November 2009 at 13:01.
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Old 25th November 2009, 11:56   #154
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Quote:
Originally Posted by null View Post
How is it possible to live in a house without an OC? I understand that it is the basic document issued by BBMP to allow you to live in that house. Not having an OC means its not fit to live in that house - this is my understanding. Check how much property tax are they paying? that would be a good indication - house under construction has roughly 1/3rd (or 1/4th) the tax amount that of a self occupied / domestic house as far as I know.
Thanks. I will check the tax paid. But regarding OC being a must, about 60% of properties I saw didn't have one. Like I said earlier, both new and old.

Gears,
Red-One.
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Old 25th November 2009, 12:09   #155
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Quote:
Originally Posted by RedOne View Post
Thanks. I will check the tax paid. But regarding OC being a must, about 60% of properties I saw didn't have one. Like I said earlier, both new and old.

Gears,
Red-One.
OC is given to the building after after every work is completed and it is suitable for living. After the builing is completed the builder will apply for OC and then a team from BBMP comes to investigate and gives the certificate.
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Old 30th November 2009, 13:20   #156
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Question Brigade Value Homes- Anyone?

Brigade group has opened booking for 2,500 apartments out of the proposed 10,000 affordable apartments in Bangalore

They will be located at:
  • Devanahalli—North Bangalore
  • Kanakapura Road (near Art of Living)—South Bangalore
  • Mysore Road (near Kengeri)—West Bangalore
  • Whitefield - K.R. Puram—East Bangalore
Now would this prove to be a good investment is the biggest question that perplexes prospective buyers.

Here are a few pros and cons that i thought of-

Pros-

1. Brigade has a good brand name, so resale of the apartment should be easier. Their past projects have shown good appreciation in value
2. Only Rs 50,000 to Rs 1,00,000 is payable upfront which is refundable after 6 months if the buyer choses to
3. One can be more assured in dealing with a reputed builder like brigade on aspects such as legal groundwork, construction quality etc
4. Purely from cost perspective the proposed cost looks VFM

Cons-

1. The cost of apartment could range from Rs 1900 per sq.ft to Rs 2400 per sq. ft. and there is no commitment on the exact cost. Further in the areas where the apartments are offered it is possible to buy a ready to occupy house at Rs 2000 to 2600 per sq. ft. though not from builders of same repute
2. The sizes of apartment are much smaller than conventional 2/ 3bhks in bangalore. Wonder if those will be livable and would have good rental/ resale value
3. There is no commitment of date of possession of the flats. Internet reviews suggest that Brigade generally has delayed projects in the past for as long as upto two years from the date initially promised. Now that builds the speculation that the project will be ready by only by say 2014 onwards.


Some important links
Brigade Value Homes

Brigade enters affordable home space- News -Real Estate-Markets-The Economic Times

Looking forward to valuable comments/ analysis and insights from everyone!
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Old 30th November 2009, 14:08   #157
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Has anyone on the forum evaluated or considered the Ozone Evergreens project off Sarjapur Road (Bangalore)? Please do get back to me.
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Old 2nd December 2009, 19:58   #158
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Guys,

Wanted a clarification.

Is there a new Govt rule that states the signed sale agreement between the builder and the purchaser has to be signed at the sub-registrar's office for an amount of 0.25% of the total property amount? This is normally done before the legal verification begins.

IDBI is adamant that this rule exists since last 8 months for all the banks. Have any of you guys gone through the bank home loan process recently i.e. within the last 8 months? AFAIK, the agreement is signed on stamp papers worth 100-200 Rs.

TIA!
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Old 31st December 2009, 08:05   #159
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Can anybody vouch for the reliability and effectiveness of the real estate web sites? Ineed to sell (on behalf of a relative) some water front property bordering Ernakulam and Alappuzha districts.


Quote:
Originally Posted by JVH View Post
Is there a new Govt rule that states the signed sale agreement between the builder and the purchaser has to be signed at the sub-registrar's office
Yes. The registration, if not done, means you cannot claim to enforce it in courts. That is all. You can claim compensation for non enforcement, but cannot insist on transfer of the land.

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for an amount of 0.25% of the total property amount? This is normally done before the legal verification begins.
No. There is no legal minimum value prescribed.

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IDBI is adamant that this rule exists since last 8 months for all the banks. Have any of you guys gone through the bank home loan process recently i.e. within the last 8 months? AFAIK, the agreement is signed on stamp papers worth 100-200 Rs.
The rule only reuqires that you register the agreement to sell the property. There is no obstruction to sell a property without entering into an agreement in the first place. This happens in a large number of cases. People just talk, raise the entire amount required and the transaction is done within a few days.

I cannot understand teh IDBI's pov. But when did IDBI start granting housing loans?
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Old 2nd January 2010, 13:30   #160
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Hi
My query is to all the mumbai people out there. After extensive search, I have kind of shortlisted 2 sites based on the following criteria
1. Transportation links to other parts of mumbai (public transport included)
2. Size of the flat (in terms of area)
3. Availability of all essential services nearby (grocery shops, restaurants, etc.)
4. Travel Time to office and back (My office is in Worli and wifey is at Andheri)

The two shortlisted locations are Bhakti Park aka the buildings next to IMAX and Synchrocity at Powai (It is an existing building but two new wings are being added and is just next to Nahar Amrit Shakti)


I have seen both flats and am reasonably happy with the construction and price.

Which one would you recommend based on the considerations above.
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Old 2nd January 2010, 19:26   #161
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I normally would not advise you to buy a flat where construction work is still going on but the choice is yours.
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Old 2nd January 2010, 19:35   #162
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Quote:
Originally Posted by BaCkSeAtDrIVeR View Post

Yes. The registration, if not done, means you cannot claim to enforce it in courts. That is all. You can claim compensation for non enforcement, but cannot insist on transfer of the land.
Actually, its not about registration but just to go ahead with technical and legal verification. I checked with HDFC as well. It is indeed a new rule. A draft sale agreement is signed by the builder and the purchaser and this gets sealed at the sub-registar's office for 0.25% of the property value.

After this, enters the stage of absolute sale deed and the registration. I think you were talking about this? The one before this was only the draft sale deed.

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But when did IDBI start granting housing loans?
Err, not sure. But my colleagues highly recommended them vis a vis HDFC and Axis.
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Old 2nd January 2010, 20:02   #163
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Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
Can anybody vouch for the reliability and effectiveness of the real estate web sites? Ineed to sell (on behalf of a relative) some water front property bordering Ernakulam and Alappuzha districts.
YES.I have very positive experience selling property(A 3000sq.ft House) as I got a genuine buyer .Best way imho is to register in free ads sites(prominent ones) as well as ,in case of Kerala ,the newspaper owned website too invites good response,But remember to register in these sites so that You can cancel the ad once property is sold off.While ,I had the ad listed on a very prominent real estate website for 2 weeks(Free) which too yielded very good responses. The Only problem with online ads is ,You do get some unsolicited calls .
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Old 2nd January 2010, 20:50   #164
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Definitelny a very good investment in my opinion. With a very stable govt at the helm and Taj expressway being completed in an all guns blazing fashion, this area is going to be gold in future (esp if the proposed Airport can come up!). It shud become another Faridabad (hub for industry) in next 10+ years...
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Old 2nd January 2010, 21:37   #165
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Quote:
Originally Posted by JVH View Post
Actually, its not about registration but just to go ahead with technical and legal verification. I checked with HDFC as well. It is indeed a new rule. A draft sale agreement is signed by the builder and the purchaser and this gets sealed at the sub-registar's office for 0.25% of the property value.

After this, enters the stage of absolute sale deed and the registration. I think you were talking about this? The one before this was only the draft sale deed.

Now, this getting curioser and curioser.

We have agreements to sell, and an agreement of sale.

The first one is ... welll... as the name suggests, an agreement to sell property at a future date / event. The new rule is that these agreements should be agreement, if you want the actual property itself. Else, you get only compensation if the other party refuses to sell / buy. Earlier, you could compell an innocent third party buying the property without knowing existence of an agreement to sell to sell to you, if your agreement "to sell" was prior to the other person buying the property.

The "agreemt of sale" aka the sale deed - that is, of course, compulsorily registrable.

A draft sale deed / agreement has no value in law. Why in the world would they even bother to register / seal it?

I think you are meaning the agreement TO sell. The motive may be that while agreements TO SELL would show the actual price, the final agreement OF sale would be undervalued. Hence, the insistence on registering the agreement to sell too.

@deepclutch - mind sending the sites by PM?
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