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Old 2nd May 2017, 11:47   #1981
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Default Re: The Property / Real Estate Thread

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Originally Posted by AltoLXI View Post
I need guidance / advice about the flat I am in process of selling.
seems you have already made up your mind?

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Plan to move to home town once the career in IT is over. Have a plot there - so I want to use the sale proceeds of the apartment sale to construct house there. I plan to give it on rent there and stay in rented house here. Post retirement, I plan to stay in the house in native.
i do not know where your 'native' is, but life is funny and unpredictable, most of the times. You (or your family)may find residing permanently in a smaller town/village irksome after staying in a metro. The rental income may be lower than say investing the amount in other financial instruments. You need to do the math.
Quote:
Half the owners (who bought from the builder 11 years back) have left and have bought 3 BHK / villas etc. The new ones have not much interest in the apartment activities and keep to themselves.
this is irrelevant, in my opinion.
Quote:
Afraid if the bore-well dries up in future, there is no other way we can drill another one as it was the only point right next to apartment compound wall.
A fall back option needs to be discussed with the owners.

My experience tells me the following:
  1. A 'owned' property is a must for security reasons.
  2. Cost of rentals are low today (say 3% -7% of cost of property) depending upon where you are. However, rentals can be volatile and you are left to the vagrancies of the owner.The risk of being without a house in case of circumstances beyond one's control must be thought of.

Why don't you consider:
  • Continue staying where you are. You say that you are comfortable.
  • Invest the (proposed)rent you would have to pay, in a good financial instrument to make a nice nest egg for you to build a house , say after 5-7 years.
  • This way, you have your security at present, and still get to build a house in your hometown, though a bit later. Any way you do not need it now.
  • The only down side is the water issue at present. I do not know how many owners form the society you live in, but best is to address the risk with all of them.

Hope this helps.
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Old 2nd May 2017, 14:19   #1982
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Default Re: The Property / Real Estate Thread

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Originally Posted by AltoLXI View Post
I need guidance / advice about the flat I am in process of selling. I know it is more about personal choice but not having experienced the other aspects like staying in rented accommodation off late, it makes more difficult to come to a decision.
I had a 2 BHK flat in Bangalore- that I was renting out ever since I moved out of that city- which I finally sold about a year ago. Based on my experience, I think you are doing the correct thing.

There is always a right time to sell off a property before its marginal utility starts dropping and reflects directly in the market demand. You have nailed it when you mention the bore well water availability. If you want to sell off your flat, THIS is the time to act. Beyond a certain time it will actually decrease in value in real terms and you will find it difficult to get a suitable buyer.

I also agree that taking on unnecessary debt is not advisable. With prices of real estate already plateauing (and even headed for a dive sometime in the foreseeable future) you should make the most of the asset you already own and plan for your primary residence of the future, viz the house you are building in your native town.

Here are a few suggestions from my side:
  • Rent a flat in the same locality you are currently in, or close by. That way you minmise the disruption to everybody's life.
  • Try and get a long-term rental with YoY rent increases built in (e.g. a leave and license for 33 months renewable every 11 months). You will not be able to get a contractual obligation but can usually tell by discussing with the landlord whether he is looking for a long term tenant. This will ease the pain of shifting every year.
  • Renting gives you flexibility to move closer to your place of work, kids' school and so on. Be smart about it and choose a place that offers value for money. An extra bedroom or amenities like gym, pool etc. that you may never use may not be the things to go for.

Good luck with your move.
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Old 9th May 2017, 11:45   #1983
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Question Re: The Rent for 2nd Phase, JP Nagar, B'lore Property?

How much rent could one expect for a 2BHK(approx. 1000SFT carpet area) semi-furnished duplex house in 2nd Phase, JP Nagar(off 100 ft. ring road), B'lore?
The property has car parking available inside the plot.

Also, which are the better online platforms to advertise for rent?

Please advise!
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Old 9th May 2017, 12:17   #1984
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Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by AltoLXI View Post
I need guidance / advice about the flat I am in process of selling. I know it is more about personal choice but not having experienced the other aspects like staying in rented accommodation off late, it makes more difficult to come to a decision.

Please advice.
Hi, even i am thinking in the same line as you are. In fact, we both have so many similarities. Even i come from middle class family, works in an IT company, brought my current flat (2BHK) some 11 years ago with no basic amenities. I also brought a plot in my native place some 4 years back, but at that time, i withdraw money from my PF account and with some other loan (small amount though), i was able to construct a decent 2BHK house there.

I know, the house that i constructed there will be old by the time i move out of Bangalore and currently may not be fetching good returns (from the rent amount) for the money that i have invested, but still i feel comfortable that i do have an house when i go back. Also,i don't know what would be my financial condition at that time, so i did not wanted to take any risk. And, my current flat, though may not fetch good amount if i try to sell it off, it will still get a decent amount if i have to rent it out. So, that's my plan.

Now coming to your case, i suggest you not to sell your current flat, just to construct a house there in native. Firstly, the rent that you may get from that house may not be high and also you need to think about staying in a rented house here in Bangalore, after staying in your own house for 11 years. This is a psychological feeling for anyone. Also, the rent amount in Bangalore is still high. So, considering all these things, i suggest you to accumulate some money over next 5-6 years (as suggested by someone else also) and then do the construction of house there in native. And if possible, try to rent the current flat when you have to move out.
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Old 9th May 2017, 14:07   #1985
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Default Re: The Property / Real Estate Thread

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Originally Posted by rajinibm View Post
In the scheme the price per sq ft paid was Rs.5000. The cost excluding registration came to around 1.12 odd Cr. On a ten year loan tenure at 3.99% vs current rates the savings came close to 28 lakhs.
What is the catch with 3.99% rate of interest?
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Old 24th May 2017, 15:02   #1986
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Default Re: The Property / Real Estate Thread

Hi Folks,

Can anyone share any feedback on the Sumadhura group? They have quite a few projects in various stages of development in the Whitefield area and general feedback seems to be mostly positive. Some projects like Silver Ripples, Shikharam, Soham etc are ready/close to completion.

They also claim to have obtained Occupany Certificate(OC) for their completed projects like Silver Ripples and Shikharam.

Could someone please advise on any pointers and insights based on actual experience with them, as well as feedback on these specific projects?

Last edited by Parth46 : 24th May 2017 at 15:03.
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Old 26th May 2017, 10:06   #1987
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Default Re: The Property / Real Estate Thread

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Originally Posted by Parth46 View Post
Hi Folks,

Can anyone share any feedback on the Sumadhura group? They have quite a few projects in various stages of development in the Whitefield area and general feedback seems to be mostly positive. Some projects like Silver Ripples, Shikharam, Soham etc are ready/close to completion.

They also claim to have obtained Occupany Certificate(OC) for their completed projects like Silver Ripples and Shikharam.

Could someone please advise on any pointers and insights based on actual experience with them, as well as feedback on these specific projects?
Hi Parth46,

A year ago, I was in the market looking for an apartment. I have visited a few projects of Sumadhura. Honestly, they are not that great. I had my eye particularly on Sumadhura Shikharam on Whitefield-Hoskote Road. The planning is entirely bizzare where many of the apartments have balconies facing each other.

I would suggest looking for other established builders- VBHC, Mahaveer etc.
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Old 11th June 2017, 11:15   #1988
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Exclamation Re: The Property / Real Estate Thread

Fellas,

I require your assistance in understanding which of the costs mentioned in the attached documents are illegal and are being used to fleece us.

Scenario is like this. My in-laws are looking for a small 2 BHK to purchase in Chennai, which they would like to put on rent. So they've been visiting some properties to understand the associated costs. Please be aware that they haven't purchased any flats of their own, and they live on a gigantic ancestral estate in Kerala. So they're just like me, noobs when it comes to anything related to real estate.

Could you please go through the attached images and let me know which of the costs are above and beyond the usual level of thuggery commonly associated with buying property in India?

Thanks in advance & cheers!

The Property / Real Estate Thread-img_2529.jpg

The Property / Real Estate Thread-img_2530.jpg
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Old 12th June 2017, 13:48   #1989
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Default Re: The Property / Real Estate Thread

Hello Guys,

By god's grace, I will be getting married in the month of December. I am currently in Pune and have decided to settle in Gurgaon.

I am in the common predicament of buying vs renting. I need some advice what would be ideal and best course of action.

I am 30 years old working in an IT sector. Would it be a wise option to invest now? or move to Gurgaon in an rented accomodation and invest later? I had stayed in Gurgaon for 5 years but never really looked for any real estate to invest but now with changing circumstances I am looking for one. I understand this is totally personal call but still would like to know from experienced folks like all of you.

My friend in Gurgaon had invested in Unitech but he was one of the affected ones who was duped and never got the property he is still living in an rented accommodation. Stories like these scares me. which brings me to my next set of questions.

1. Who are the reputed builders in Gurgaon area?
2. Besides, homely conveniences, approach from malls, bus stations, airports, grocery stores, offices etc., locality, appreciation of property. What are the major point that you simply cannot ignore while investing in a residential property?
3. Folks in Gurgaon know any good projects to invest? Perhaps I can stop by and have a look. I have heard that area beyond Manesar toll is cheap but I personally think the area is till in ruins. I had stayed at a friends place in Vatika Emilia Low Rise (Sector-82) and really like the vibe of that place but the area is too far away from Gurgaon besides crossing a toll (read Gurgaon toll) don't inspires confidence.
4. I really like Tulip Orange society but all the flats are available in resale I have seen few properties in South extension-2 but confused which property & builder to go with.
5. I am looking for 3BHK but I was reading in few forums that 1BHK and 2BHK are the fastest moving and gets appreciated more as compared to others over time.

Apologies for too many questions. Any other information regarding above is most welcome. Thanks and have a nice day ahead!
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Old 12th June 2017, 14:51   #1990
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Default Re: The Rent for 2nd Phase, JP Nagar, B'lore Property?

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Originally Posted by JMaruru View Post
How much rent could one expect for a 2BHK(approx. 1000SFT carpet area) semi-furnished duplex house in 2nd Phase, JP Nagar(off 100 ft. ring road), B'lore?
The property has car parking available inside the plot.

Also, which are the better online platforms to advertise for rent?

Please advise!
Around 20k , depending on the age of the property.
I would suggest No-broker and 99 acres
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Old 12th June 2017, 15:16   #1991
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Default Re: The Property / Real Estate Thread

Quote:
Originally Posted by drive_angry View Post
I am in the common predicament of buying vs renting. I need some advice what would be ideal and best course of action.
What is your objective, investment or end-use? What's your budget and what are the other MUST HAVES for you (proximity to any specific place, layout & size - min 3 BHK or carpet area of min 1500 sqft etc.?)
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Old 12th June 2017, 15:51   #1992
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Question Re: The Rent for 2nd Phase, JP Nagar, B'lore Property?

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Originally Posted by #win View Post
Around 20k , depending on the age of the property.
I would suggest No-broker and 99 acres
As of now, am getting a rental of 25K/month for this property. I would like to rent it out for little more than that amount. I have placed ads on No-Broker, 99 Acres and Common Floor.
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Old 12th June 2017, 17:17   #1993
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Default Re: The Property / Real Estate Thread

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Originally Posted by fine69 View Post
What is your objective, investment or end-use? What's your budget and what are the other MUST HAVES for you (proximity to any specific place, layout & size - min 3 BHK or carpet area of min 1500 sqft etc.?)
Thanks for your response. Here are some additional information:

1. Objective: I am going to live in the apartment. well, At least for 10 years after that I may rent it and move to my hometown.
2. Budget: 70 Lakhs
3. Must haves: Security, accessibility to daily needs store, hospitals, somewhat clean space/environment (yeah I know hard to come by in Gurgaon but still), appreciation (if not depreciation) & most importantly tension free ownership.
4. Close to: within 8-9 Kms of any metro station or nearby Shushant Lok/Sector-30, south city extension, etc
5. Layout: 2BHK with at-least 1200 sqft area

Regards,
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Old 14th June 2017, 21:19   #1994
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Default Re: The Property / Real Estate Thread

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Originally Posted by drive_angry View Post
Hello Guys,
First of all, congratulations on the personal front as you get into the next phase of your life.

Your situation is pretty much similar to mine.
a) Got married at 30
b) Started career in Gurgaon (5 years), moved to Mumbai (4 years) and now back to Gurgaon.
c) Looking for a decent place to buy for end use. Place that I can call home.

Let's move over to your questions:

1. Who are the reputed builders in Gurgaon area?
The reputed ones like Unitech, Emaar, M3M, IREO etc have had their glory days in the past but now, the story is different. Even their projects are delayed, have quality issues and are stuck in some kind of litigation or the other. So a due diligence is required specifically for each property that you pursue.

2. What are the major point that you simply cannot ignore while investing in a residential property? - If you are looking to get all of these in a single property, then you definitely should have a big budget to invest. Some areas have great homely convenience but are far from malls (Sec. 56 for example). Some are really close to Malls but damn costly etc etc. So its gonna be a tough time deciding which factors you want to sacrifice and which ones you can't compromise with.

3. Folks in Gurgaon know any good projects to invest? - I think the first step to this would be fixing a budget and then start looking for options. You can still get a decent 2 BHK for 80 Lacs in Kendriya Vihar Sec-56 but not sure if it ticks all boxes for you. So start with the budget, and then shortlist the areas you want to consider for staying or investing purposes.

4. I really like Tulip Orange society - Tulip Orange is on my radar as well. Again the build quality is not top notch but that's the case with even more reputed builders. You could also consider Orchid Island, Mayfield gardens, Rosewood, Today Princeton (all in the range of 80 lacs to 1.2 crores)

5. I am looking for 3BHK - It depends what you intend to do with this property. If you intend to stay there with your wife with occasional guests or parents visiting, a 2 BHK should be just fine. If you just want to invest, 2 BHKs should surely sell out faster than 3 BHKs as their is always a shortage of 2 BHKs.

Note: I am not associated with any of these builders or projects that I have suggested. These are just findings from my home search that has been going since the last 3 months.
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Old 15th June 2017, 11:53   #1995
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Default Re: The Property / Real Estate Thread

So, based on this: https://upload.wikimedia.org/wikiped...2_Line_Map.png is there anyone here who's looking to, or has already invested around the last stop? My dream always has been to have an individual house with a kitchen garden as I love to cook and so does my wife. So we were thinking of checking out either plots or upcoming individual houses, with big gardens, around these last stops. Makes sense? I'm going to Kengeri to check out a few options this weekend. If you guys can point me to anything, that'll be mighty helpful.
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