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Old 8th June 2020, 14:49   #2236
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Originally Posted by adithya.kp View Post
brigade gateway ( 1200 units). It will be overcrowded.
House buying is a very subjective experience and I am sure you have your reasons but if Brigade gateway checks your commute and budget criteria, I strongly suggest you look it a bit more seriously. If you can find something in A, B, C blocks facing the pond - you don't get any 'crowded' feeling. Gives you nice downtown city square vibes and not the feeling of staring at apartment towers. I am reasonably familiar with many large projects and Brigade gateway got it right I feel.

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Old 8th June 2020, 19:48   #2237
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Hey,
I wanted to invest in a Coffee/ Tea estate in areas like Chikmagalore/ Kodagu/ Sakleshpura. As I am from Mysore and work in Bangalore, the idea is to take up an area that can be managed by dad and brother. preferably, lesser than 7 Acres to start with. Any suggestions/ leads on the same will help? Will COVID harm the rates to my advantage?
"Invest" - that word does not fit in here. I have friends who are planters. Correct me if I am wrong.
  • Coffee is in over-supply
  • Labour to pick the coffee is difficult and not efficient.
  • In relation to labour shortage, only 60% of the coffee gets plucked
  • I hear remarks that a better return is made by selling the estate and banking the money.
  • Most planters carry on as it is a legacy or there is a return since the cost of land acquisition was low.

If your family wants a summer home which happens to grow coffee, then go ahead. If you hope to reap dividends from coffee then pray for permafrost in Brazil and locusts in Ethiopia (I wish that never happens).
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Old 11th June 2020, 12:26   #2238
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Ok. My certified copy of deed is uploaded here & i have to pay Rs. 723/- to download the same. Was wondering shall i go online or go to registry office & apply offline.
Got the certified deed copy online. Fairly straight forward process. Initially the amount was deducted from my account but transaction acknowledgement was not generated. Checked the status by GRN number and it showed payment was successful. Somehow managed to trace the AIN number & downloaded the deed with it.
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Old 15th June 2020, 10:16   #2239
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Default Re: The Property / Real Estate Thread

Has anyone purchased any property at Mantri Hills (on the way to Nandi Hills) in Bangalore? Any feedback for the property? They are quoting around 35 lakhs for a 1500 square foot land. Any views on whether this will be a good investment and is this price right or can be negotiated further? Any purchase here will be purely for investment purposes.

Link to the property site: http://mantrihills.officialsite.online/index.html


Any feedback will be appreciated!

Last edited by arindambasu13 : 15th June 2020 at 10:35.
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Old 15th June 2020, 12:54   #2240
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Has anyone purchased any property at Mantri Hills (on the way to Nandi Hills) in Bangalore? Any feedback for the property? They are quoting around 35 lakhs for a 1500 square foot land. Any views on whether this will be a good investment and is this price right or can be negotiated further? Any purchase here will be purely for investment purposes.

Link to the property site: http://mantrihills.officialsite.online/index.html


Any feedback will be appreciated!
Avoid anything to do with Mantri! They are in a mess. As for investment, unless the developer has put in visible infrastructure, dont bother
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Old 30th June 2020, 22:32   #2241
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Does it make any sense to buy property in Purva Zenium (Hosahalli, International Airport Road Bangalore) now? It’s pre-launched and the offer = 15% now and the rest at possession (in March 2023). I am looking at it as an investment mainly for good ROI

Last edited by M35 : 30th June 2020 at 22:33.
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Old 1st July 2020, 10:47   #2242
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If you think these new projects will ever be completed, go right ahead. Frankly its a lot of unnecessary tension. I'd only happy with 'ready to move in' units
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Does it make any sense to buy property in Purva Zenium (Hosahalli, International Airport Road Bangalore) now? It’s pre-launched and the offer = 15% now and the rest at possession (in March 2023). I am looking at it as an investment mainly for good ROI
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Old 2nd July 2020, 01:59   #2243
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Need some practical advice in regard to mode of payment to the Builder.

I have recently purchased a 4 BHK apartment around the new airport at Chandigarh. Possession is expected around October 2020. I've made about 70% of the payment already and it has all been through RTGS or direct bank transfer, meaning all of it has been in white money. The builder (who is like a family friend) has advised that I make the remaining payment in cash. As then, the apartment can be registered at 70% price which will mean saving a couple of lakhs at that time. Also, since this has been bought primarily as an investment, he mentioned it'll be difficult to sell it off, if we pay the whole of it in white money.

I'm absolutely clueless about the real estate world. But to me, making tax paid white money into untraceable cash makes absolutely no sense. If someone could throw some light on this, I'll be really grateful.
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Old 2nd July 2020, 06:53   #2244
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I'm absolutely clueless about the real estate world.
Indeed you are.

This is a common. You can take a moral stand and refuse. It upto you. But what he said about potential future sale also is important.

You will be hard pressed to find people who will be willing to make the payment for the home in white money. Especially if the home value is/will be running into crores.

Hard reality but it is what it is.

Last edited by download2live : 2nd July 2020 at 06:55.
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Old 2nd July 2020, 09:28   #2245
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It is a common ploy by most builders. I have always ensured to make everything white.

While you save a couple of lakhs due to lesser registration charges because of a lesser declared value , the builder actually gains a lot more when it comes to his own taxes.

Please ask him about his benefits also because of this arrangement and if your builder friend is willing to pass on some of those to you , the buyer. That will be an interesting check.

And then , another question you may want to ask yourself is if you would like to be the one where the bank asks questions on the need of so much cash. Withdrawals in cash are tracked and monitored. You do not want such attention in these tough times for sure.
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Old 3rd July 2020, 08:42   #2246
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If you think these new projects will ever be completed, go right ahead. Frankly its a lot of unnecessary tension. I'd only happy with 'ready to move in' units
Thanks.
It’s Puravankara which is quite a reputed brand in the field. The deal is that I am paying around 12 lakhs which is 15% now. and the rest is payable only at possession. I am not in any hurry, and since it’s a pre-launch price and the bulk of the money will remain with me (75%), the appreciation at the time of possession is what I am looking at, even if it gets delayed by a couple of years.

Please do let me know if I am missing anything!

Last edited by M35 : 3rd July 2020 at 08:51.
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Old 3rd July 2020, 09:44   #2247
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Thanks.
Itís Puravankara which is quite a reputed brand in the field. The deal is that I am paying around 12 lakhs which is 15% now. and the rest is payable only at possession. I am not in any hurry, and since itís a pre-launch price and the bulk of the money will remain with me (75%), the appreciation at the time of possession is what I am looking at, even if it gets delayed by a couple of years.

Please do let me know if I am missing anything!
Check if you are really not paying the interest for a loan in your name. Most of the time, the disbursements in the loan will be continuing to the builder and the builder will pay the pre-emi interest till possession. Builders usually do not put their own money in the buildings.
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Old 3rd July 2020, 10:53   #2248
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Check if you are really not paying the interest for a loan in your name. Most of the time, the disbursements in the loan will be continuing to the builder and the builder will pay the pre-emi interest till possession. Builders usually do not put their own money in the buildings.
I am told that the loan is in my name but the pre-emi interest is paid by the builder till possession. Is there anything that I need to ask them to produce?
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Old 3rd July 2020, 10:53   #2249
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Besides, on some ruse or other they will wrest money regularly from you. By that time you're already half way in. I don't trust these guys at all
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Check if you are really not paying the interest for a loan in your name. Most of the time, the disbursements in the loan will be continuing to the builder and the builder will pay the pre-emi interest till possession. Builders usually do not put their own money in the buildings.
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Old 3rd July 2020, 11:38   #2250
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I am told that the loan is in my name but the pre-emi interest is paid by the builder till possession. Is there anything that I need to ask them to produce?
So it's 15% upfront payment AND a loan in your name?


If so, The second part sounds very very risky. What happens if they skip a few EMIs down the next year? Wouldn't your neck be on the line? Sorry if I'm missing something here.

A close friend who's a structural engineer working with clients like Lodha, Oberoi, etc. is saying these builders are expecting to go slow on their ongoing projects. Would be similar or worse for the one you are looking at. Ready to move in flats would be all that I consider.
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