[Rajeevraj]

Originally Posted by Raj1008

Thanks, yes I have the past deeds. I was advised by a friend not to give any copies or to route them through a lawyer.

But I am presuming he was being super paranoid.

Should I add any watermarks to the copies?

They want to verify the transactions, stay duty etc.

Asking for past deed copies is a fair ask. Since there seems to be a lot of asks,.one suggestion is to take the services of a lawyer on your end to drive the transaction to closure. This will also give you peace of mind when such different asks and questions keep coming up.

[Ragavsr]

Originally Posted by Raj1008

He wants to see the previous agreements. Is this ok to do?

Buyer has every right to demand a copy of all previous sale deeds and do due diligence with them and cross verify with government records to ensure the authenticity of the property. Usually atleast for 50 years if not earlier. If the seller is not ready to give me a copy, I would straight away cancel the deal. It's the duty of the seller to hand over the same. No harm can be done with a xerox of the same. Leave alone paranoid, any deal will simply not happen without this taking place.

[atnyia]

Hi T-BHPians,

I am looking for some opinions and suggestions.

I had acquired the current apartment that I live in, for appx 36 L net cost (including interiors, registration and HL interest expenses). It is 3 years old and now fully paid. I'll be moving to a new house once current school sessions are over. As I'll be vacating this house, I have two options.

1) Rent the house and hold the property:

• The going rent in the area is appx 25000. So, it is very healthy yield.
• There is still scope of price appreciation in the area.
• The upcoming (7-8 years) metro station on Sarjapura-Hebbal line will be at 600 meters walking distance.
• There is another announcement of SWIFT city, which is going to be pretty adjacent. I am not sure how this will play out.
• The Prestige City and Forum mall will also be operational in next 1-2 years.

2) Sell the property and then re-invest:

• I can sell the property for appx 60-62 L now, while the building is still new.
• I can re-invest this money into a leveraged RE play i.e. buy something around 1 Cr and sell when the building is getting ready in 2-3 years.
• No headache related to tenants or society related issues.

While I am tilting towards option 1, I don't have any prior experience with letting out the properties in Bangalore. Looking forward for your views.

[creative420]

Originally Posted by atnyia

Hi T-BHPians,

I am looking for some opinions and suggestions.

I had acquired the current apartment that I live in, for appx 36 L net cost (including interiors, registration and HL interest expenses). It is 3 years old and now fully paid. I'll be moving to a new house once current school sessions are over.

Will the house you're moving to be on rent or owned? What's the play with the shift to the new place/area, long term or short term?

You've gotten a good deal with the current apartment is all I can say at this moment. Need proper analysis.

[atnyia]

Originally Posted by creative420

Will the house you're moving to be on rent or owned? What's the play with the shift to the new place/area, long term or short term?

You've gotten a good deal with the current apartment is all I can say at this moment. Need proper analysis.

The new house is meant to be owned (currently mortgaged) and meant to be a permanent place until I need to move due to higher education of kids.

The current apartment is a good deal in retrospect. It was a random buy during pandemic (better-than-paying-rent thinking). I had planned to move out of Bangalore and hoped to rent it out. My expected rental income was 15000 in the most optimistic scenario. It so happened that Prestige launched TPC after 10 months of the purchase. Then came the metro line announcement and now it is the SWIFT city and even Hosur Airport! The area is set out to be another Whitefield like suburb with all it's evils

[creative420]

Originally Posted by atnyia

The new house is meant to be owned (currently mortgaged) and meant to be a permanent place until I need to move due to higher education of kids.

The current apartment is a good deal in retrospect. It was a random buy during pandemic (better-than-paying-rent thinking). I had planned to move out of Bangalore and hoped to rent it out. My expected rental income was 15000 in the most optimistic scenario. It so happened that Prestige launched TPC after 10 months of the purchase. Then came the metro line announcement and now it is the SWIFT city and even Hosur Airport! The area is set out to be another Whitefield like suburb with all it's evils

It is indeed. If you can afford to pay the EMIs for the new home, this current home is a good back-up plan to hold on to for many scenarios.

1. To close the new home mortgage and store away any additional savings for education.
2. For kids education purpose only. If the kids are young, you can put all the rental income in investment instruments to churn a sizeable amount.
3. Gives you an option in future to sell either of two houses you own to cover education and other expenses.
4. Also, the rental yield is above market average and set to increase only with prestige and metro coming in.

[ajmat]

) Rent the house and hold the property:
The going rent in the area is appx 25000. So, it is very healthy yield.
There is still scope of price appreciation in the area.

Consider the following

1. Net rental yield after taxes
2. Is the apartment near a proposed station
3. Are there other properties coming up which could lead to over supply? You could enjoy the yield and sell later on

2) Sell the property and then re-invest:
I can sell the property for appx 60-62 L now, while the building is still new.

• Do you want debt while your kids education fees spiral?
• Look at the capital gains impact and remember the tax saving bonds have low yield and cannot be used as collateral.

My advice would be to find a good long-term tenant and see how it goes. Reinvest the rental income for your kids education goals.

Review Sell/Rent after 3 years

[Rajeevraj]

Originally Posted by atnyia

Hi T-BHPians,

I am looking for some opinions and suggestions.

I had acquired the current apartment that I live in, for appx 36 L net cost (including interiors, registration and HL interest expenses). It is 3 years old and now fully paid. I'll be moving to a new house once current school sessions are over. As I'll be vacating this house, I have two options.

Sarjapur Area is a double edged sword. When looking at a long term view, all the points you mentioned can make it a prime hub. Metro, SWIFT City, Suburban Rail, Proximity to ORR, Whitefield and Electronic City, Accessibility towards Hosur, the new PRR and STRR. The downside is that this end state(if it happens) is probably 10 years away and the market is priced with all these assumptions mostly factored in. If all of these happen, then having a property in the midst of it is advantageous and it will only appreciate.

In the near term- next 5 years at least, the area is only going to go from bad to worse. Even today, moving around this area is getting from bad to worse on a daily basis and if all these announcements remain on paper, the area will simply implode.

Do keep in mind that over supply is a big risk for the area. Every other launch is happening on Sarjapur Road and I simply don't understand how the area will manage,

Good thing is you have a good runway to see how things progress. So you can rent it out now, take advantage of the announcement of all these projects which will continue to drive up rentals as well as selling prices over the next 2-3 years at least. By then it will be clear on which projects actually progress and when it will get done. That time you can take a call to hold further or sell.

[.sourov]

Hello BHPians,

I was looking to invest in some property in Hyderabad, the shortlisted ones are Rajapushpa Provincia / Pristinia, Aparna Sunstone, My Home Akrida.
I know they are situated in different places but since I am looking from investment POV, I am flexible with the same.
Some insights from the people who know the area well will be of great help.

Thanks
Sourov

[Thumping Soul]

Hello Bhpians!

This forum continues to be my trusted place for advice.

I had bought a flat in Whitefield, Bangalore in June 2023. The deal was simple. However, I'm yet to complete my khata transfer. Approached several agents, but each one of them wants the payment first.

So, I decided to pursue it on my own. To start off, following are the docs needed:
1. Encumbrance Certificate till date showing my name & details
2. Registered Sale Deed
3. Property Tax paid receipt

I was able to get the EC done earlier this week and was now trying to apply for Khata Transfer using the Shakala portal, but looks like they have removed that option now.

Any pointers on how to proceed with Khata Transfer in Bangalore without going for an agent.

Regards
Saurav

[deep_bang]

Originally Posted by Thumping Soul

So, I decided to pursue it on my own. To start off, following are the docs needed:
1. Encumbrance Certificate till date showing my name & details
2. Registered Sale Deed
3. Property Tax paid receipt

I was able to get the EC done earlier this week and was now trying to apply for Khata Transfer using the Shakala portal, but looks like they have removed that option now.

Any pointers on how to proceed with Khata Transfer in Bangalore without going for an agent.

Regards
Saurav

If it's a BDA property then it can be done on SevaSindhu portal.

[deehunk]

Originally Posted by Thumping Soul

I had bought a flat in Whitefield, Bangalore in June 2023. The deal was simple. However, I'm yet to complete my khata transfer. Approached several agents, but each one of them wants the payment first.

Any pointers on how to proceed with Khata Transfer in Bangalore without going for an agent.

First check the concerned gram panchayat office that issues Khatha for your flat; it can be found from the Form 9/11B given by the builder during registration. In case of CMC khata, approach the concerned CMC office. The normal amount taken by a staff worker is ₹10K to 15K for issuing a Khata, plus property-related charges, which can be about 5-8K depending upon the locality and size of the flat.

[Thumping Soul]

Thanks for your responses.

This property is under BBMP and was a resale case. The Khata is currently in previous owner's name and they had handed over the khata to us during registration.

Will try to check the SevaSindhu app as well.

[PearlJam]

Originally Posted by Thumping Soul

Approached several agents, but each one of them wants the payment first.

That's standard process. These agents are usually reliable. Why would they want to take the risk/effort if you have a chance to back out subsequently?

[dZired]

I have shortlisted a 1800 sq ft (30 x 60) plot for investment in the Pearl City, Gopasandra. Is there any BHPian having exposure to the area / society?

I am primarily interested in this property because of the following factors:
1. Situated on the main Muthanallur - Chandapura road (4-lane).
2. Close to the upcoming PRR.
3. Close to the recently announced SWIFT city.
4. Lot of builders coming up with big projects in the area (ex: Nambiar District 25).

I wanted to check the following questions:
1. Any issues around the Pearl City related to water-logging / security / litigation?
2. A nearby layout (Fortune Cosmos) is completely deserted. Any reason about no construction in that layout?
3. Does the Gopasandra / Muthunallur / Chandapura area have potential to 2x the return basis the above parameters in a 10-year time frame?

I will anyways be getting a legal check done. Just wanted to see if any BHPians can help give some first-hand information.