[BaCkSeAtDrIVeR]

Those in Maharashtra / Mumbai - I guess that along with the flat the buyer gets a membership in the housing co-op society which owns the building and the land on which the building stands.

Here are some tips for people in states like Kerala, which has no law for housing societies which own the complex.

1. If you are buying a villa, make sure you get co-ownership of the common land and access rights over the roads within the villa complex.
2. Make sure that you get ownership over parking space.

Some things applicable to all states:-

3. Does the price include statutory charges like registration (12-15% in Kerala), Construction Worker's welfare fund cess (1 or 2% - do not remember), building tax (one time tax, payable when the building is constructed, and collected by the revenue department of the state).
4. Sewerage - Water supply - electricity - who pays for the deposits / connection?
5. Have necessary clearances for conversion from agricultural use (if the land was agricultural land) been obtained?
6. Does the building comply with the building rules and master plan issued by local planning authority (TRIDA / GCDA, [C|K]DA in Calicut, etc. Try to avoid buildings which do not adhere to the building rules even fi the necessary clearances are obtained. Building rules (especially the provisions providing for minimum parking space, vacant area around the building, maximum height of the building, maximum built up area aka FAR etc) number of stair cases and lifts, etc) are for safety and convenience of the users of the building;

Finally, do go around the locality and enquire with the locals about who is / was owner of the land and check how the builder / promoter of the project obtained rights to build. Usually, purchasing new built apartments are a three party affair - the land owner has a contract with the builder, and they jointly execute the title deed in your favour when you buy the built up apartment. Make sure that there was no dispute / litigation regarding title of the land and/or agreement to develop the land. Nothing except a local inquiry will reveal this.

DEMAND to see the ORIGINAL title deeds relating to the land. There are instances where builders mortgaged the land (since they retained possession fo the title deeds) and then went ahead and sold the apartment to un-suspecting buyers. In such case, the bank will proceed against the buyer fo the apartment since the deed in his favour will be usually after the mortgage with the financier / bank is executed.

Some lands - especially land which used to be industries / factories are frequently leased by the government. Make sure that the seller has absolute title - not just the lease hold rights. This requires looking into the records with the revenue department of the State government. (hint - 'revenue department' = village / Thasildar / district collector office; panchayath / municipality / corporation office = local self government).

[RedOne]

Greetings!

I am planning to sell my apartment in Bangalore but have no idea of the value given that I am in Chennai. Can the Bangalore t-bhp-ians help me with pointers as to what can I expect?

Details of the property:
Mantri Woodlands on Bannerghatta road
3 BR penthouse on 2 levels, private terrace etc, 7 years old
Complex has all usual frills like pool, clubhouse, shuttle/tennis courts, covered car park etc.

What would be the approximate per sqft rate I can quote? What is the best option to sell (propmart.com etc) given I am not in bangalore?

Thanks,
Red-One.

[maktags]

Hello Everybody,Those living in the CGHS flats in gurgaon might be knowing HUDA has directed owners of CGHS flats to get their flats registered and to get the conveyance deed of their individual flats.

Most of the original allotees of the society's have already got their flats registered. However, there is lots of confusion when it comes to getting the flats registered for the people who have bought them from original allotees in resale. There are no concrete guidelines.

Can some one please suggest a wayout of this issue. What is the correct course of action. What is the rate at which the flats need to be registered.

If someone has already got their flats registered please let us know the procedure. This is specially relevant for flat owners in Sector 56,55, 14 etc.

Thanks in advance.

[madbullram]

Hi all,
I was planning on buying an Apartment for investment. I already own an Apartment in Navalur and was considering Purvankara Pallikaranai project. Anyone with thoughts what would be a good place to invest?

Cheers!

[Proxima]

My kind of topic!!!

My suggestion - go in for a plot of land in Sriperembadur instead of a flat. Your investment will double in no time.

You can build a house on that later if you want. Also, you will be paying much less on EMIs.

[suren181]

@ madbullram: just thought that the following link might clear your view on this project

PURAVANKARA BUILDERS Reviews

Was going through various sites for investment, Bro is investing in an apartment at Chennai and he is putting his money in DLF Garden City. This is for your info.

[Surprise]

I would suggest not to purchase from where the values are already appreciated as you are looking for an investment.

Would you like to get this investment liquidated the moment you decide or you can wait for the right buyers. This plays an crucial role in location and piece selection

If its former look at the purchasing bulk grounds after Chengulpattu or Thirutanni or deeper areas in sriperumbatur. Bonus if you could get a corner plot on a minimum 33 ft road. Look for grounds that has more frontage (can easily split and sell)

If not, you can go and purchase lands in acres@ Rs.2 or 3L per acre. You can get these sort of lands after uthiramerur or in Tindivanam (forget on main roads, you need to travel minimum of 6-10 kms inside on village roads). This case the wait is long, but worth.

Having said all these, everyone predicted crash in Chennai real estate right from 2002, but all these predictions have become joke and the prices continue to skyrocket. That means even a flat purchase too becomes an intelligent investment, if this trend continues.

Now the upward trend has stopped and you know the transacations have minimized drastically as speculators have gone underground

[koolaruny]

Yes. Agreed with @surprise. If you are looking at it purely for an investment option, I suggest you wait a bit more. The prices for Purvankara seems highly inflated. I'm personally not a great fan of buying a land at a remote place as well considering that in TN and most of the other states, it might not be a wise decision to buy a plot /land and forget about not visiting the place for a few months and you will end up realising that someone is coolly occupying that spot.

It's a tough choice now as even stocks and MF's are not doing that great. If you ask me, go for a NSC / NSS. Modest but guaranteed return!

[2theMax]

If you already have an apartment in chennai, why again , I ve been contemplating the same earlier , the prices quoted in chennai (navalur, pallikarnai,etc.,) are too hyped up, with no basic amenities like good schools,roads,water etc.,

IMHO these areas are practically unliveable ...not even a bl""""dy takeaway,or good schools for kids ..there's an arguement that in 5-10 years,these areas will be goldmine and is good investment .the same was mentioned about the IT highway, which has gone nowhere for the past 3 years. look what has happened to bangalore we are in the same stage where bangalore was 3-4 years earlier.

I have decided to park my investment in bangalore,although i live in chennai.

Will be glad if somebody make me see sense

[madbullram]

Thanks Everyone.

Suren: Even i read that b4 thats why didnt go for purva.

My thought was with the development activities now happening in OMR, a flat in Perungudi was 20 lakhs is now 50 - 60 lakhs ...so was wondering on that line.

What do you guys think of Coimbator or Hosur

[Surprise]

Originally Posted by madbullram

What do you guys think of Coimbator or Hosur

I wanted to add Coimbatore option in my earlier post, but signed off. That is also a superb option as that place is emerging fast. Always be the first mover and enjoy the advantage

[madbullram]

Did anyone check out DLF in OMR. Is the project good?

[2theMax]

Prices @cbe have shot up lately,you can check out vakil's project in hosur offering independent and semi independent villas

[amtak]

Which is the best place to invest in and around Mumbai/Thane district? Mira Road/Dahisar/Kanjurmarg/Ghatkopar?

[khanak]

Heres a new 80 storey building being planned in Worli, at the end of the sea face where the Bandra Worli Sea Link will join Worli.

MUMBAI | Waves | 80 Fl « Indian Skyscraper Blog