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Old 27th June 2013, 21:17   #1276
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Default Re: The Property / Real Estate Thread

I got a buy back offer from the developer of the apartment I had booked. Does this mean there is high demand for this project?
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Old 28th June 2013, 10:21   #1277
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Default Re: The Property / Real Estate Thread

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I got a buy back offer from the developer of the apartment I had booked. Does this mean there is high demand for this project?
That is a likely option.

However, the most likely reason is
maybe the developer did not get permission till all the floors he sold the flats.
So, he is buying back flats and adjusting

Two scenarios:
your flat is on unapproved floor, hence buy back
give your flat to someone who booked on unapproved floor and is not willing to buy back
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Old 3rd July 2013, 18:33   #1278
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Originally Posted by Naetik30 View Post
Good to know buddy . Mine is in A block 5th floor. I guess you will get the handover well ahead of our block. What plans for interiors. I am already in discussion with a couple of guys for that.
Hey, looks like registration has started. Are you planning to register now or waiting till hand-over?
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Old 3rd July 2013, 19:53   #1279
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Hey, looks like registration has started. Are you planning to register now or waiting till hand-over?
Registration done on june 19th.
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Old 5th July 2013, 16:50   #1280
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Default Re: The Property / Real Estate Thread

I have a property in Delhi, the current market value of which is around 1.30 crores. I am looking to sell it off.

The problem I am facing is, all potential buyers are offering me a large percentage of the money in cash (read black money).

I'd prefer a transaction where I get 100% white money. But as per hearsay, that is never going to happen.

Is there any hope at all to avoid black money?
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Old 5th July 2013, 17:04   #1281
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Default Re: The Property / Real Estate Thread

Where is this property ? You might have to sacrifice about 4-5 lakh to make a sale.
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Old 5th July 2013, 17:13   #1282
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Where is this property ? You might have to sacrifice about 4-5 lakh to make a sale.
I am perfectly fine with that.

The property is in Mayur Vihar Phase 1 Extension, about a KM away from Samachar Apartments.
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Old 5th July 2013, 18:04   #1283
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Chennai BHPians -

Need feedback on Prestige Bella Vista at Porur next to Ramachandra Medical.
The price quoted by them is Rs 6000 per sqft for pool facing apartments (they call it premium apartments).
Floor rise charges are Rs.15 psf, location preference charges are Rs. 50 psf and car parking for Rs. 2 lacs.
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Old 8th July 2013, 12:10   #1284
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Default Re: The Property / Real Estate Thread

Folks, need help with the law when it comes to apartments. I quite recently picked up a 3bhk duplex apartment and had a few queries regarding modifications and changes that can be made. My apartment association is driven purely by red tape bureaucracy and the office bearers(a few of them) behave as though they own the whole building.

Questions

1 - I have two balconies(apart from the terrace) and I want to put up sliding glass shutters. Now this has been strongly opposed by a few nincompoops in the association stating that this is against the norms laid out by the govt.

Does something like this exist at all ?

2 - Also the passage that leads to the balconies in question has a door and an adjacent window. My idea was to remove the existing door/window combination and put up a French sliding door like the one in the pic below

Name:  French door.jpg
Views: 988
Size:  64.0 KB

Once again the blokes are at it again saying that its illegal. No pillars are being touched or no wall on the outside is being altered, I am planning to fix these sliding doors exactly in the dimensions as the added width and height of the existing door and window.

I am new to this and wanted to know if such rules exist at all ? From what I saw there are a few other apartments in our building which have the same kinda work done.
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Old 8th July 2013, 13:01   #1285
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Default Re: The Property / Real Estate Thread

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Originally Posted by rjstyles69 View Post
Folks, need help with the law when it comes to apartments. I quite recently picked up a 3bhk duplex apartment and had a few queries regarding modifications and changes that can be made. My apartment association is driven purely by red tape bureaucracy and the office bearers(a few of them) behave as though they own the whole building.

Questions

1 - I have two balconies(apart from the terrace) and I want to put up sliding glass shutters. Now this has been strongly opposed by a few nincompoops in the association stating that this is against the norms laid out by the govt.

Does something like this exist at all ?

2 - Also the passage that leads to the balconies in question has a door and an adjacent window. My idea was to remove the existing door/window combination and put up a French sliding door like the one in the pic below

Once again the blokes are at it again saying that its illegal. No pillars are being touched or no wall on the outside is being altered, I am planning to fix these sliding doors exactly in the dimensions as the added width and height of the existing door and window.

I am new to this and wanted to know if such rules exist at all ? From what I saw there are a few other apartments in our building which have the same kinda work done.
Yes indeed. Now you may want to build a nice French window, but the others would be interested in covering it to get an additional room to rent out or to make a room for the kids. Come to Delhi - see any "DDA flats" and you will see what I mean. In ten years, the building looks are unrecognizable and is a mess. Hence it is imperative you retain the looks as is - IMHO it is a slippery slope and they have to stop other residents from doing so, even if they have failed in the past. It helps in protecting your investment as well!

afaik, The sale-purchase agreement is legally binding on you on this subject FYI, what does yours say.
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Old 8th July 2013, 13:34   #1286
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Default Re: The Property / Real Estate Thread

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Originally Posted by phamilyman View Post
Yes indeed. Now you may want to build a nice French window, but the others would be interested in covering it to get an additional room to rent out or to make a room for the kids. Come to Delhi - see any "DDA flats" and you will see what I mean. In ten years, the building looks are unrecognizable and is a mess. Hence it is imperative you retain the looks as is - IMHO it is a slippery slope and they have to stop other residents from doing so, even if they have failed in the past. It helps in protecting your investment as well!
Agreed !!! Lets say I skip the idea of the sliding shutters for the balcony. What about a balcony door , I mean residents have no rights to get better looking doors ?

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Originally Posted by phamilyman View Post
afaik, The sale-purchase agreement is legally binding on you on this subject FYI, what does yours say.
Clearly says no structural changes can be made and also no exterior changes which includes using the balcony as a part of the house, no joining 2 adjacent balconies and a few other things.

Nothing says that I cant change the balcony door or no clue if I am really missing something here.
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Old 8th July 2013, 13:46   #1287
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Default Re: The Property / Real Estate Thread

Needed some honest advice from fellow members.

I am looking to purchase a property in Bangalore. Its a multistory apartment - the same where right now i am staying on rent.

The only issue is that the building is 10 years old.

My objective of buying this property is to keep this for long term use. If i stay in Bangalore i will live there, otherwise will rent it out. Howeverm don't plan to sell it.

But being a 10 year old building, people are advising against it, even though the construction quality of the building is UNLIKE anything else that is being built today. There are no cracks, no seepage and maintanance is quite good.

Still, considering that average life of a residential apartment is 35-40 years, does it make sense to consider buying this 10 year old flat?
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Old 8th July 2013, 13:54   #1288
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Default Re: The Property / Real Estate Thread

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Originally Posted by rjstyles69 View Post
Clearly says no structural changes can be made and also no exterior changes which includes using the balcony as a part of the house, no joining 2 adjacent balconies and a few other things.

Nothing says that I cant change the balcony door or no clue if I am really missing something here.
Here is what my purchase agreement says. To me, it is clear that I cannot do any such modification like you suggest - it will be at my risk. What does yours say?

Quote:
That the VENDEE shall keep the said Apartment / Unit, the walls and partitions, sewers, drains, pipes and appurtenances thereto belonging, in good tenable repair state or condition and in particular so as to support, shelter and protect the parts of the said Building(s) and shall not make additions, alterations or modifications in the Apartment, which is not permissible under the Building Bye-laws of the local authorities and/or guidelines issued by any other competent authority and shall abide by all laws, bye-laws, rules and regulations of the Government, Local / Municipal Authorities and/or any other authorities and local bodies and shall attend answer and be responsible for all such deviations, violations or breaches of any such conditions or laws, bye-laws or rules and regulations. The VENDEE shall not change the outer elevation of the said Building and/or Apartment and shall maintain it in the same colour as has been originally done in the said Building and outside the said Building by the Association of the Apartment Owners.
Your point is valid, but I am only advising prudence lest you run into an irate / stubborn RWA with time/money to take you to court.

Last edited by phamilyman : 8th July 2013 at 13:59.
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Old 8th July 2013, 13:57   #1289
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Default Re: The Property / Real Estate Thread

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Originally Posted by DCEite View Post
Needed some honest advice from fellow members.


The only issue is that the building is 10 years old.

But being a 10 year old building, people are advising against it, even though the construction quality of the building is UNLIKE anything else that is being built today. There are no cracks, no seepage and maintanance is quite good.

Still, considering that average life of a residential apartment is 35-40 years, does it make sense to consider buying this 10 year old flat?
Go for it don't listen to those who are advising agaist it building structures are designed for life of around 100 years. Most people say land appriciates while building depreiciates but they do not factor in to account the skyrocketing costs of steel , Cement and labor in Indian context.
Example Around 10 years back steel TMT bars were approx 19000Rs per tonn now it is somewhere in between 36000 to 40000 rs per tonne.

Purely in my personal opinion , In bangalore buildings constructed around 10 years back often have better construction quality then current lot.
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Old 8th July 2013, 14:17   #1290
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Originally Posted by rjstyles69 View Post

I am new to this and wanted to know if such rules exist at all ? From what I saw there are a few other apartments in our building which have the same kinda work done.
Riju, those guys are right and playing by the book. The law says no exterior modifications are allowed to the existing structure. Thus would also include sliding doors since these affect the external appearance.

We have the same contention at most apartments. It would be best to go through the clause in your sale agreement.

In most cases people make these changes when the association is not too strict and also once the BBMP has issued the Occupancy Certificate.
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