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Old 6th July 2011, 02:41   #556
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Many Thanks Benny and Spitfire for the prompt replies . I am looking for a place to stay.Rental income is not the concern but the Initial prices of some properties are sure shot dampeners.
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Old 6th July 2011, 07:42   #557
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Developers in Mumbai are now willing to negotiate

Desperate builders offer juicy discounts
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Old 6th July 2011, 09:23   #558
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Default Re: The Property / Real Estate Thread

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Originally Posted by mjothi View Post
Just came across this site. Very interesting tool to know the amount of EMI, interest etc for your loan you are planning.

Very scary too

Any loan for 15yrs, repayment doubles the loan amount. WoW...
A friend and myself, while going through the home loan experience did a lot of 'what-if' analysis using home loan calculations on a spreadsheet. We figured that on a home loan term exceeding 10 years you end up paying most of the interest during the first 5 years so if you plan to make any part pre-payments do it in the first 5 years, you will find it has a huge impact on your outstanding principal and repayment term.
I always jokingly say the home loan formula is like the Duckworth-Lewis formula that is applied to rain affected/shortened cricket matches which almost always goes against the team batting second (they can rarely win)
Also count me in if you plan to meet over coffee some place, would be great to catch up with you'll !

Last edited by NPV : 6th July 2011 at 09:31.
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Old 6th July 2011, 09:53   #559
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Default Re: The Property / Real Estate Thread

Irrespective of the loan tenure, I follow the basic thumb rule that one should try and make as much part-payments in the first 35% of the tenure. That's when the interest component would be higher than the principal. In fact, when I was taking a home loan in 2005, a friend of mine who was heading the home mortgage division of an MNC Bank suggested that I should close my HL in 7 years to be benefitted on a 20 year HL tenure.

Cheers
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Old 6th July 2011, 10:24   #560
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Developers in Mumbai are now willing to negotiate

Desperate builders offer juicy discounts
I heard from other friend in Pune (his friend is in construction business) that the business is really coming down.

More such news will get the price usually falling. But still wont be a easy grab, except for desperate sales. That happens every now & then.
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Old 6th July 2011, 10:52   #561
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For those who are familiar with the new airport side, any ideas or opinions?

There seems to be a lot of home projects but very few access roads right now. What i am talking is not the Dodballapur or NH7. It's the roads from those to sites i'm having a doubt about.

Also that area is known to be dry. Maybe 10 years down the line water might be a problem here, leading less appreciation?

Thanks for your opinions.
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Old 6th July 2011, 11:01   #562
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Also that area is known to be dry. Maybe 10 years down the line water might be a problem here, leading less appreciation?
If you consider this yard stick, then whole of Bangalore will have less appreciation down the line.

Anyway, those regions should appreciate in years to come. There are huge properties coming up due to the SEZ coming up in that area. That should bring in more habitation and demand for rent.
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Old 6th July 2011, 11:11   #563
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If you consider this yard stick, then whole of Bangalore will have less appreciation down the line.

Anyway, those regions should appreciate in years to come. There are huge properties coming up due to the SEZ coming up in that area. That should bring in more habitation and demand for rent.

Thanks. It's just that i wanted the least headache.

Also many people told me that area is dangerous for double selling of plots.

Anyone knows good trustworthy developers or societies behind ITC side?

Thanks.
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Old 6th July 2011, 11:16   #564
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For those who are familiar with the new airport side, any ideas or opinions?
Invest, Invest, Invest. Yes, that's the way its is going to.

Sarjapur and what all the others say about electronics City and other areas, that area is dead. Nothing will come out of it.

A big group who has most of the land there is selling 30x40 sites for 15 odd lakhs in that area. If you sit and negotiate we managed a 12.5 deal.

Only issue with Airport side is though appreciation will be good, properties will not sell so easily once bought. But long term its a sure shot gold mine.

Don't go for shady and deep in the village deals. The prestige villa one is so difficult to get to and will stay so for a while. But that will get sorted, Prestige will do it. So any plots around that area are good.

Access roads to the internal areas will be an issue atleast for the next 5 years. After that one can start seeing work starting on there.

See once the local corporation starts getting money - registration, land sale. They look at building the infrastructure.

If you are not thinking of staying there right away then its a great investment. But presently not the one to stay in.

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If you consider this yard stick, then whole of Bangalore will have less appreciation down the line.
Water issues are going to kill this city sooner then later. Some huge thought needs to be put in for the next two decades. Right now you can see the initial push - rain water harvesting and others. This is not sustainable for long. The government is at it but due to instability and central-state war things aren't moving that well.

Once the politics is set aside there is hope. But it needs to happen soon.

When do we meet? And where? I am available on weekends and if I can cycle there I will me even more pleased. Anything within a radius of 15-20 kms one way around Marathahalli suits me. Hey that covers all of Bangalore

Last edited by Spitfire : 6th July 2011 at 11:18.
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Old 6th July 2011, 11:25   #565
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A big group who has most of the land there is selling 30x40 sites for 15 odd lakhs in that area. If you sit and negotiate we managed a 12.5 deal.
Is this big group you are saying is selling in Sarjapur?

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Don't go for shady and deep in the village deals. The prestige villa one is so difficult to get to and will stay so for a while. But that will get sorted, Prestige will do it. So any plots around that area are good.
You mean to say Prestige Villas near Rajanukunte?
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Old 6th July 2011, 11:27   #566
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Is this big group you are saying is selling in Sarjapur?
Yes it is.

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You mean to say Prestige Villas near Rajanukunte?
Yes.

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Old 6th July 2011, 11:39   #567
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Well, a year back i had searched for a plot near this Prestige Villas near Rajanukunte, they were quoting 950/sqft then don't know what the rates are now. The property was on Rajanukunte to Hesaraghatta road.
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Old 6th July 2011, 11:54   #568
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I am in for a weekend meet :-)

Guys I have few more questions specific to Sarjapur - Attibele road

1. Is this Area under BMRDA ?

2. What is the town planning authority ? And if something is approved by Anikel townplanning authority does it mean it is BMRDA approved or they are different.

3. Is there any link which can provide rules for BMRDA layout approval
example the acess road must be XYZ meters or abc% should be open area.

What do you think about plots with confident group ?
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Old 6th July 2011, 12:15   #569
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The property was on Rajanukunte to Hesaraghatta road.
Year back you could have bargained it to 800-850/sqft. Rate could have gone up by a couple of hundreds.

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I am in for a weekend meet :-)
Someone will have to coordinate this. I am really bad at this one. I have short term memory loss

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Guys I have few more questions specific to Sarjapur - Attibele road
Go here: BMRDA

On the left pane go to Local Planning Areas. You will have answers to your questions and some more.

Quote:
What do you think about plots with confident group ?
Purpose?
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Old 6th July 2011, 12:43   #570
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Originally Posted by Spitfire View Post


Purpose?
1. Investment for Horizon of 5 years
2. Safety of the investment in a proposed layout which is seeking approval from (??) authorities.

3. May be constructing and living there after 10+ years.
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