Team-BHP - The Property / Real Estate Thread

Quote:

Originally Posted by benbsb29 (Post 2065985)

The flats on the 5th floor become illegal. Ask for the sanctioned building plan from the builder. You would need to get this verified from the authorities using a lawyer, i believe.

Thanks, will update my friend on this

Quote:

Originally Posted by Latheesh (Post 2067779)

I have seen few apartment with illegal 5th floor. In most of these owner/builder occupy the same as he cannot sell the same.

Yeah, the builder clearly told us that the 5th floor was not approved and hence noone will give loan for that floor

Quote:

Originally Posted by shishir_bn (Post 2067939)

Hi Quadra,
For 1) You need get a property lawyer and get every sheet of paper verified ( he will do it on your behalf)
for 2) You need to check this with BBMP dept. Usually the building plans will be notified in the records and stamped on building blue prints. Check the same with the BBMP office
For 3) You have to check the lift AMC since it is mandatory for a builder when the building is new(I think for first 2 years) or else get the purchase documents or manual or goto the lift seller and ask for the documents.
For 4) As per 2015 BBMP plan all the road will be extended or broadened. How soon is a big question since if there is any village/slum near the road then it will not happen soon due to political issues/litigations etc.
For 5) When constructing the building the builder would have given some amount and this issue will be closed. When the hand over happens to the building association then if the officials open this case then either the association or the owner has to pay a huge amount as penalty. So better see the approved plan and check the same with BBMP office before buying the pent houses.

Best solution is to get a competent lawyer who will do all these things for you and will give you a "legal opinion" and the next best thing is to take a home loan where you property will be verified by the bank people also.

Thanks for the advice, will pass it on.

We have another question if anyone of you could answer it ?
My friend cant afford down payment of 15% so the only option is to ask / request builder to increase the price of the property (in papers only) so he can get a higher loan.
> What are the PROS / CONS on following this practice ?
> Is it legal ?
> Any issue when selling the property in the long run ?
> Anything other things which require attention ?

Beejay, Thank you for the response, I've not seen the land yet and I hardly know anything about that place. This is reason I asked for pointers to help me. My budget is 5L per acre. Please let me know if that amount can fetch what am looking for ?

Cheers,
Rajesh

Quote:

Originally Posted by beejay (Post 2073558)

Masinagudi and surrounding areas are falling within the elephant corridor.

Watch when you buy around that area.

Lots of land for sale around Ooty. Where have you seen the land that you intend to buy?

Guys, need a little opinion/suggestion/advice here; we're new to buying a property & hence we decided to purchase only from highly reputed ppl like Akshaya, Marg, Vijayashanthi etc. We only opt to buy from OMR & surrounding areas.

We're totally confused with what to look for & hence deciding upon Marg Savithanjali as we've seen their premises. Are there any appts equally competitive & reliable as Savithanjali? Our budget cannot exceed more than 40L. Also some suggestion to negotiate will help as I don't know where to start or would the builders even agree upon negotiation for the prices.

We're not looking to move into our new home in a span of 2-3 years from now & we're also willing to wait if there're any upcoming projects.

Quote:

Originally Posted by msvg (Post 2111573)

hi All,

I am looking for plots for investment purpose in and around Bangalore region within 100 kms ,preferabbly on tumkur road,bellary road or magadi road. Looking for dimensions like 30*40 sqft and 60*40 sqft. Which are ready to registration.And have all the papers and approvals in place.

Thanks
MSVG

msvg, there is a BMRDA approved sites/villas being sold at Nelmangala and says bank loans are also available. Just check that out. I will send you the number via PM. I saw this board near Nelmangala.

If you want a car that offers reliability and complete peace of mind, you go buy a Japanese - a Toyota or a Honda.

I you want a flat with the same qualities, you pick a reputable builder and you put your money down on the brand name and expect top notch quality without any last minute surprises.

We all know how annoying it is when you niggles with a car that we've paid a 6-7 figure sum for - BUT - what do you do when you come across discrepancies in construction for a flat that you paid a princely 8 figure sum for ? :Frustrati

The discrepancies could be something as minor as materials (paint/tiles/granite) of a different color or they could be major ones such as substandard fittings. What options are available to the buyer ?

Quote:

Originally Posted by msvg (Post 2111573)

Hi MSVG,
You can look at E K Enclave, Tumkur Road. Its E Krishnappa (layout) of Mungaaru Male fame. All approvals are in place. Its next road to "New Agarwal Bhavan" on Tumkur road, 2.5 Kms from Nice road. Quoting between 700-800/sqft.
http://ekenclave.blogspot.com/
All the best.

Hello all,

My in-laws are looking to move out of their current (somewhat small 2BHK) flat in Srinagar Colony in Hyderabad and buy a spacious 3BHK apartment on the outskirts. This is purely for them to start living in ASAP and not for any speculative/investment purposes.

Given that they are retired and living only on pension, economy and security are the biggest concerns.

I’ve outlined the requirements below and I will appreciate suggestions from members.

While I can easily research some of the bigger projects (Ramky/Aparna etc.) it’s very difficult to come across projects from small/medium-scale builders and hence the request on this forum.

Their requirements are as follows –

1. 1500 – 1800 sft HUDA/HMDA/GMCH/<anyoneelse>-approved 3 BHK apartment for less than INR 35 lacs
a. Villa not preferable – of course at this price point and with the following requirements it’s *almost* impossible
b. Including one-time parking, amenities and utilities provision -- it’ll be good if 35 lacs can cover the registration and stamp duty as well.
2. Car parking is a must
3. Large gated community is preferable so that there is enough company in the neighbourhood and there is adequate security
4. Lift (with backup) is a must even for 1st or 2nd floor
5. Electricity (with backup) and running drinking/bore water connections are a must
6. Easy access to public transport (relatives and friends visit frequently and some of them may require easy access to autos/buses)
7. Easy access to multi-specialty hospital and super market are required; proximity to schools/theatres/malls etc., and even railway/bus station, is not important
8. Other facilities like a gym, swimming pool, sports area etc. are unimportant
9. Preferred locations: As close as possible (keeping price in mind) to Srinagar Colony and Kukatpally because that’s where most of the relatives/friends live
10. Timeframe: Immediate availability and ready to move in within 2-3 months

Thanks a lot in advance for your help and suggestions!

Regards,
spadix