[adithya.kp]

Agree. 4 crore for an apartment may not make sense. But the thing is that, there are buyers at every price bracket. Usually in apartments costing more than 2 crores (In bangalore), the majority of the buyers are so called investors. They are not bothered about the ROI. Recently I came across an apartment which is 8 years old. But the owner never lived there or rented it.

If one is an actual end user, there has to be some USP at this price range. Otherwise no point buying such apartments. I saw phoenix one costing 3.5+ cr for 3 bhk. ( We can argue it's within the city limits. But that particular locality is not great). What is shocking is the number of units which is 900 plus. If it's marketed as luxury, there has to be some exclusivity. 900 plus apartments and that pricing don't go together.

Originally Posted by ValarMorghulis

Just got the price sheet for a 4BHK in Salarpuria Greenage (on Hosur Main Road 3km from Silk Board), one of the marquee Salarpuria properties.

A 2870sqft built up 4 BHK is an eye watering ~4cr.

[earthian]

Originally Posted by adithya.kp

. Usually in apartments costing more than 2 crores (In bangalore), the majority of the buyers are so called investors. They are not bothered about the ROI.

Actually, if they are investors, all they are bothered is about ROI. No emotions attached to the property.

[sunilch]

Originally Posted by adithya.kp

Usually in apartments costing more than 2 crores (In bangalore), the majority of the buyers are so called investors. They are not bothered about the ROI. Recently I came across an apartment which is 8 years old. But the owner never lived there or rented it.

Originally Posted by earthian

Actually, if they are investors, all they are bothered is about ROI. No emotions attached to the property.

I guess there is no appropriate term for these buyers but they 'invest' in these apartments simply to part their surplus funds (whatever may the source be).

They are not worried about ROI (as per our understanding) because that was not part of the reasons for buying. Hence they don't rent it out too.

But they do care about Capital appreciation, regardless of the opportunity cost or the time it may take to achieve that.

Moreover, such buyers usually buy the apartments before the project is launched or open to outside public. So some appreciation is already built in in their purchase.

[creative420]

Anyone here who has acquired a BDA plot recently in Bengaluru? Let me know, I’ll DM you with some questions.

[earthian]

Originally Posted by sunilch

I guess there is no appropriate term for these buyers but they 'invest' in these apartments simply to part their surplus funds (whatever may the source be).

They are not worried about ROI (as per our understanding) because that was not part of the reasons for buying.

There are two types of "Investors"
- those who find it convenient to park their ill gotten money and to a degree also launder it- their main purpose is to keep their ill gotten gains and also convert it.
- two who really invest in real estate as a part of their investment portfolio- these are interested in ROI

[Capri89]

Originally Posted by CliffHanger

Guys, looking to buy a plot of size ~2000 sq. ft in south Bengaluru. In case anyone is on the hunt for similar or has any pointers, do PM me. Budget 50L. I'm open for group search as well.

Hi,

Any particular reason to pick South Bangalore.
Why not North Bangalore, closer to airport ?

I do have a plot there and I may be interested to sell if I get a good price. Not decided yet, though.

[Thumping Soul]

I currently own a 3BHK flat in an apartment complex in Whitefield, Bangalore. The apartment is called 'Amrutha Value' and is located on Borewell Road. Its a 1585sft, pool & amenities facing flat with the longest balcony of the apartment (reason I paid a premium when I originally bought it). The flat is located on the 4th floor of a G+4 structure.

I'm now planning to sell this flat. What could be a good price for this unit in current market conditions.

[androdev]

Originally Posted by adithya.kp

Usually in apartments costing more than 2 crores (In bangalore), the majority of the buyers are so called investors. They are not bothered about the ROI. Recently I came across an apartment which is 8 years old. But the owner never lived there or rented it.

I would not go to the extent of saying they don't care about the ROI. It's just that some owners don't like dealing with renting/tenants due to low rental yields that are typical of Indian real estate. It makes no sense to invest 10-20L to furnish the apartment for a monthly rent of 50K pre-tax only to be repainted/repaired when the tenant leaves in a year or two.

Typically more expensive residential real estate tends to remain vacant because the repair/repaint/headaches vs low rental income. Such units are typically bought by families as an asset to leave for their kids or portfolio diversification, etc. They probably have better things to do in life than attending to the leaking toilet complaints by the tenant.

If someone is really interested in RoI through rental yield, they would be better off buying several of more affordable apartments instead of one high end apartment.

[ValarMorghulis]

A friend is getting a 2bhk 1560sq ft apartment in Koramangala in a 80 flat gated society. The building is 15-20 years old but well maintained and he really liked the flat.

Asking rate is Rs.6500 psft.

1. Isn't this too low for Koramangala?
2. What are the documents one should ask for in this case? I could only think of EC.

[androdev]

Originally Posted by ValarMorghulis

A friend is getting a 2bhk 1560sq ft apartment in Koramangala in a 80 flat gated society. The building is 15-20 years old but well maintained and he really liked the flat.

Asking rate is Rs.6500 psft.

1. Isn't this too low for Koramangala?

Too many factors influence the price. Depends on the location, quality and brand of the builder. KA govt. has fixed guidance value very close to the market value - that's a good source of price info. Any recent past transactions would also be of help. Rental values can also be used to check if the price is reasonable. Undivided land share also contributes to the price.

2. What are the documents one should ask for in this case? I could only think of EC.

For apartment:

Original sale deed of the current owner - pay attention to the land share and car parking allotment

EC

Link documents (you will need a lawyer to verify these): Documents for each "ownership" transfer as far as back possible including the link documents for the land on which the apartment was built. If it was a joint development with the land owners, then document related to that.

Apartment building plan and plan approval documents (start of the construction)

Occupancy certificate (successful completion fit for living)

Property tax related (khatha and tax paid receipts)

NOC from the apartment association (that all dues have been paid, etc.)

BESCOM bills, etc.

[balenoed_]

Does anyone know about the STP (Sewage Treatment Plant) functioning.

The thing is, I am looking at a plot in a gated community and the STP for the community is situated near to this particular plot. Since there are only few houses in the community, the plant is currently not needing to function. But in future, whenever more houses are built up, then probably this STP will start functioning.

Question is, is it ok to have a house in a plot which is near to STP. Will it stink in case the STP fails at anytime, temporarily? Should I anticipate that situation?

[sunilch]

Originally Posted by balenoed_

Does anyone know about the STP (Sewage Treatment Plant) functioning.

The thing is, I am looking at a plot in a gated community and the STP for the community is situated near to this particular plot. Since there are only few houses in the community, the plant is currently not needing to function. But in future, whenever more houses are built up, then probably this STP will start functioning.

Question is, is it ok to have a house in a plot which is near to STP. Will it stink in case the STP fails at anytime, temporarily? Should I anticipate that situation?

Please be more specific. How near is the STP?

If given a choice, I would stay away from the STP. Noise and mosquitos will be very common issues for you, not to forget smell as well depending upon functioning, and wind direction.

[Parth46]

Originally Posted by Thumping Soul

I currently own a 3BHK flat in an apartment complex in Whitefield, Bangalore. The apartment is called 'Amrutha Value' and is located on Borewell Road. Its a 1585sft, pool & amenities facing flat with the longest balcony of the apartment (reason I paid a premium when I originally bought it). The flat is located on the 4th floor of a G+4 structure.

I'm now planning to sell this flat. What could be a good price for this unit in current market conditions.

Could we connect via DM? I might be interested in exploring this further.

Thanks,
Parth

[Jaguar]

I am looking for a real estate lawyer in Thiruvananthapuram to help with some property document verification. Any leads will be appreciated.

[balenoed_]

Originally Posted by androdev

KA govt. has fixed guidance value very close to the market value - that's a good source of price info.

Is this true for plots as well?

Otherwise, is there any disadvantage in quoting this low value, aka, the guidance value in agreement than the actual sale price?

The advantage being that the registration charges also tends to be less as it depends on this and I guess that is the usual practice.