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Old 11th July 2011, 20:43   #586
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Default Re: The Property / Real Estate Thread

@Spitfire, Bannerghatta Rd / Kanakapura Rd area.

& the water problem - everywhere !

Last edited by condor : 11th July 2011 at 20:46.
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Old 12th July 2011, 07:59   #587
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Afaik after wipro corporate office 4 kms is green zone so avoid this area.

I finally booked plots in confident at sarjapur attibele road this area is under Anekal townplanning authority.
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Old 12th July 2011, 10:44   #588
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@Spitfire, Bannerghatta Rd / Kanakapura Rd area.
Looking for something specific or a general query. Good area but long time development there hampered by a farmer and his family.

If you have invested already its good. But better options now on the BIAL side. Stagnant growth.

Quote:
& the water problem - everywhere !
No not in all cities. Unless the monsoons do us in.

Bangalore is unique. The water table is depleting fast, being a high altitude area does not help. With the sewage issue a bigger one, fresh water catchment areas are either getting polluted or getting encroached. If you look at Mumbai for instance, their catchment areas are off limits to anyone. How ever powerful he/she may be. Its not so in Bangalore. One government official almost got killed for this polluting thing. That incident is the tip of the iceberg.

For example Bellandur lake, its dead. Gone. Whatever you do nothing can relieve it. Ok you can but the costs are enormous. See its being killed for a reason. The airport shifted out and that killed some of the enthusiasm. There are deep rooted reasons why somethings are failing in this city or rather its being allowed to fail.

Varthur lake on Whitefield side, a substantial part of it was killed just like that. People are buying apartments there now.

Something really strong or substantial needs to happen or this city will have worse water issues in the next couple of decades to come.

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Originally Posted by amitk26 View Post
I finally booked plots in confident at sarjapur attibele road this area is under Anekal townplanning authority.
Oh brilliant. Congrats!! Which place did you choose and what price. Its ok if you don't want to divulge it here.

Did any of my previous posts help?

Last edited by Spitfire : 12th July 2011 at 10:49.
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Old 12th July 2011, 14:00   #589
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Well, you don't have many choices isn't it. LIC is the only guy giving you fixed.
Go for SBI's Maxgain scheme. You can google it for it's benefits, can offset higher interest rates.
SBI is ruled out as the time delay would mean interest to be paid to builder :(
LIC is in the same league so hardly matters, but what about Axis? They have a policy that u can preclose using ANY bank funds with 0 charges.
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Old 13th July 2011, 12:34   #590
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Default Re: The Property / Real Estate Thread

Guys, am being offered site in a pvt layout, apparently with approvals in place. Rate @1300 per sq ft on Mysore road, near the NICE road junction. The sites are close to that panch-mukhi Ganesha temple, and about 100 odd meters off Mysore road.

What do you think ? Is it worth it ?

Last edited by condor : 13th July 2011 at 12:39.
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Old 14th July 2011, 11:11   #591
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I have a query regarding power of attorney. Has the law in Maharashtra changed to allow only submission rights, rather than execution rights to the person who is appointed in the power of attorney? This is with regards to sale of land.

I got this information from an advocate. He said that the law has changed to counter the rampant power of attorney misuse by builders in land development.
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Old 14th July 2011, 13:22   #592
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Quote:
Originally Posted by Spitfire View Post

If you have invested already its good. But better options now on the BIAL side. Stagnant growth.
@Spitfire, what's your view on Tumkur road plots/sites? I've a plot there near NICE road - Tumkur
road, is there any improvements indicated later in Master Plan or so?

thanks,
Ramki
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Old 18th July 2011, 10:50   #593
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Quote:
Originally Posted by Spitfire View Post

Oh brilliant. Congrats!! Which place did you choose and what price. Its ok if you don't want to divulge it here.

Did any of my previous posts help?
Deal is not yet over so will wait to get it executed before divulging it here :-)

Yes your posts were helpful in deciding on the place.

Guys while buying the property ask for the Masterplan etc from developer as most developers are reluctant find out the master-plan yourself.

This may be important for plots adjescent to road. I noticed that in masterplan one road near to the layout I was looking was 45 Meters , The current road is barely 12m so it is clear that if government ever executes this plan the plots adjacent to boundary wall are likely to be notified for acquisition. Though in full probability for less important roads this will never happen else we would have a extreamly well planned city .

But many roads like Sarjapur main road, Kesavanhalli main road ( sarjapur road to Parapara Agrahara) are already notified for widening and acquisition is in progress. So you should factor in this while purchasing.
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Old 18th July 2011, 12:42   #594
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Default Re: The Property / Real Estate Thread

As a buyer, I see a good change in the trend.

last week, I had so many follow-up calls from so called property consultants, builders etc. I have even seen them negotiating for days to fix the deal.

In the past, they were not even interested to sit on the table for negotiation.

And today i see this SMS.

"Pay Rs18 Lacs and get flat worth 30Lacs, Pay 26Lacs and get flat worth 42lacs. Call now. xxxx."

And other SMS too. This shows that we are nearing the price correction (ofcourse, may not be a crash!!!).

Hold on to your horse..... Or start bargaining more...
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Old 18th July 2011, 12:59   #595
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In the past, they were not even interested to sit on the table for negotiation.

And today i see this SMS.

"Pay Rs18 Lacs and get flat worth 30Lacs, Pay 26Lacs and get flat worth 42lacs. Call now. xxxx."

And other SMS too. This shows that we are nearing the price correction (ofcourse, may not be a crash!!!).

Hold on to your horse..... Or start bargaining more...
Sorry to burst the bubble It just means that your number has just entered in to real-estate spammers list and nothing more but I am getting such SMS for last 4-5 years some one trying to sell land in Mysore , Devanhalli , BMRDA or whatever is touted as next upcoming thing.

I do not see this price correction happening witout a big shock becuase the builder / developer mafia purchased land real cheap few years back from farmers and are sitting on land banks. They have probably recovered total land cost by fractional sales and not in any hurry to cut down inventory.
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Old 18th July 2011, 13:18   #596
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Default Re: The Property / Real Estate Thread

Hi, yesterday went on a survey for residential plots in R.K.Hegde Nagar Thanisandra Main road. Checked two layouts and details as follows
1) Shabari Layout:-
Gated community
Society looked decent with lot of homes.
Clear Entitlements
Good Bus facility even late night service
Good auto facility
~4.5 K.M from Manyata & ORR
Asking Price 2000/- per sq.ft
One can avail Bank loan for this as betterment charges have been paid
2) Balaji Krupa Layout.
Entrance Road to this Society looked a bit crowdy and shabby
Plots seen have clear Entitlements
Good Bus facility even late night service
Good auto facility
~4.5 K.M from Manyata & ORR
Asking Price 1800/- per sq.ft
One can avail Bank loan for this as betterment charges have been paid
I went there through a known source accompanied by an agent.
Myself planning to take Bank Loan and construct for Self stay. Please suggest if you can help me with any better options near by.
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Old 19th July 2011, 16:07   #597
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Default Re: The Property / Real Estate Thread

Are we allowed to post plots/houses for sale in this thread ?
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Old 20th July 2011, 18:20   #598
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I have been offered a 1240 sqft 2bhk flat with minimum amenities 500 mtrs from Meenakshi temple, bannerghatta road, bangalore. It is 4 storied building on a 5000 sqft plot without any setback. Broker quoted costs as 40Lac (negotiable) all inclusive.
Is it a good idea to include the registration cost with the deal, from buyers point? What are the pitfalls here?
What is price per sqft in that area? Is it a deal worth it?
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Old 20th July 2011, 18:32   #599
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Default Re: The Property / Real Estate Thread

Quote:
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I do not see this price correction happening witout a big shock becuase the builder / developer mafia purchased land real cheap few years back from farmers and are sitting on land banks. They have probably recovered total land cost by fractional sales and not in any hurry to cut down inventory.
This is so untrue.

A builder/developer mafia will never "sit" on land banks. Yes they will on locations which has no/less potential for growth. But other then that not a single one of them will do it.

Its a risk to hold land for long without development. Partly because of the illegalities involved in purchasing. One of the biggest worry being the unstable government. The sooner they get them sold off lesser the liability.

My above statements is for Bangalore only.
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Old 20th July 2011, 19:04   #600
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I called up Sobha developers for the price they are quoting for the just launched Mediterranean something project they have launched somewhere near Hebbal.

They are quoting 74 lacs for a 2BHK and 84 for 3BHK. I mean what on the earth???

And funny part is that the date of handover is 3 and half years from now.
And this is pre launch offer. A supposedly cheaper one. I mean what on the earth???

But I know there are people who are rolling in cash and will buy.
Damn I feel so poor an stupid.

There is so much of black money floating around that we can never expect a price fall in real estate.

OT: In China they executed 2 high ranking officials for corruption. Wish something like that happens here.

Last edited by download2live : 20th July 2011 at 19:18.
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