[Mr_Bean]

Originally Posted by mjothi

There are lot of them trying to make money in this stretch. Artha property opened a recent project in Mallur. and advt as near PRR and Infosys projects

People have an thinking that this PRR will become like ORR today. Although I am not an expert to decide on that, but I doubt if that will happen within 10 or 15yrs from now.

I agree with what your are saying, this location gets the least focus IMO though there are pockets of development here and there, to me it was impulsive buy(plot at concept city spring gardens) way back in 2008 & now I see my graph angling towards the liability side.

I always wondered how the builders are selling those apartments on this stretch. The stretch of road from Carmelram station all the way to Sarjapur town is part of the green belt, so we get to buy panchayat land at the max, BMRDA plots are not possible so they have come up with projects on the attibele-sarjapur road.

[Sowmya]

Originally Posted by mjothi

People have an thinking that this PRR will become like ORR today. Although I am not an expert to decide on that, but I doubt if that will happen within 10 or 15yrs from now.

This PPR story is lying from past 5+ years. I was looking for a site Near Horamvu (Kalkere Lake), the builder was saying the same. But still now no sign. Out skirt has lots of project but most of them are not feasible to stay due to lack of infrastructure. Hope BSY will sake up and put some effort to build the inf, instead of building up fake crisis in the city level.

[ramki067]

Originally Posted by mjothi

There are lot of them trying to make money in this stretch. Artha property opened a recent project in Mallur. and advt as near PRR and Infosys projects

People have an thinking that this PRR will become like ORR today. Although I am not an expert to decide on that, but I doubt if that will happen within 10 or 15yrs from now.

Infosys campus near Sarjapur has been permanently abandoned. My bro who is an employee of Infy has clarified that due to bribes asked by local sub-registrars to register 250 acre property for Infosys, the campus building and acquiring land has been stalled. Instead a new campus is being build at Pune which will be the headquarters of Infy in future.

So people don't buy land/apartments hoping Infy campus will come up!

[akas_chauhan]

Originally Posted by mjothi

Guys, Anyone checked the Tristar Aishwarya coming up behind ITPL? I went yesterday, looks decent and seems will be completed by next August. Anyone know this place and builders?

Is it in Patandur Agrahara village, just after HCL office? BTW what price they are quoting now?

[mjothi]

Originally Posted by akas_chauhan

Is it in Patandur Agrahara village, just after HCL office? BTW what price they are quoting now?

Exactly.

Tristar quoted for 2800. And said may settle for 2600 on booking. They say the completion would be by Aug 2012. But I doubt.

There is one more from Foyer properties coming up next to this. They quote 3100. Which I believe way high.

In my opinion, 2100-2300 is a good deal. Ofcourse, its a seller markets as of now. So, ya I am greedy

Interestingly, came across these headlines.

Housing prices fall by up to 15pc in Jan-Mar 2011 in 8 cities - The Economic Times

The news of prices going down just started around in News. It will take sometime to hit the actual market. So, I decided to watch and decide.

I already see that property guys started to call back like crazy now compared to a month before.

One more :

I see that most of the brokers just like that keep increasing the price of the flats every month when they put in internet. Take some property, and google for the price ads. You can see that the same broker (oh, its not tough to find out na!!), for the same property keeps adding about a lac or more, and put it in net.

He does not understand that the property is not sold for a reason. But keeps thinking any property should "grow" in price every month. Oh no...

[mjothi]

Just came across this site. Very interesting tool to know the amount of EMI, interest etc for your loan you are planning.

Very scary too

Any loan for 15yrs, repayment doubles the loan amount. WoW...

[mkh]

Axis bank is giving an option to pre close loan with another bank, guess that speaks that they MUST be confident of lowering rates when RBI reduces? Or its a ploy to get people in?
As for falling prices- not sure, areas, projects- all depends. Those starting now, or mid way are going to feel the heat. Those near completion, are safe. Just tried so hard to bargain a deal out of August near my home, they are not budging as its just about to complete. Outskirts one may get a good discount especially with those starting now. Mind you , high risk with those starting now, recent reports suggest projects would get delayed even by 2-3 years!!
@Mjothi- what site? BTW those INVESTING to hold and sell, surely are going to be in some bother soon with the slowing sales and rising EMI, end users will still buy.

[amitk26]

I would love to find where exactly prices have fallen in last 1 year in Bangalore that to the extent of 14%. All I am seeing is price stagnation what was mandatory 100 Rs hike every few days has stopped.

BTW can someone suggest some good gated communities for Plots around Sarjapur and rates ?

I have seen from Confident and It looks like whole belt is purchased by them

@mjothi thanks for info on Oceanus , there is one project vista form them, launch is now delayed by more then an year citing approval so I asked.

[mjothi]

Originally Posted by mkh

@Mjothi- what site?

Sorry, missed the link.

Loan EMI calculator | Calculate Loan EMI from Interest Rate - BankBazaar

Originally Posted by amitk26

I would love to find where exactly prices have fallen in last 1 year in Bangalore that to the extent of 14%. All I am seeing is price stagnation what was mandatory 100 Rs hike every few days has stopped.

Add me to the list.

But, I think this news is just hitting the headlines. So, should take atleast 6 months to reflect in the market. Provided, the builders losing their threshold. So, as you can see, its not easy.

[eastwind]

True. I am not seeing any price correction in Bangalore but just mere stagnation in the 100/sqft daily hikes. The whole thing might be an edifice built on Inflated prices and perceived value but if we have to buy, from a so called good builder, i guess the agents and the builders still call the shots

@Spitfire and Benbsb29: a small qn-Apartments like Brigade Metropolis, Prestige Shantiniketan etc in Whitefield, are they worth the 75L+ quotes?

Many Thanks

[benbsb29]

Originally Posted by eastwind

@Spitfire and Benbsb29: a small qn-Apartments like Brigade Metropolis, Prestige Shantiniketan etc in Whitefield, are they worth the 75L+ quotes?

While i am not sure whether the prices are justified, the brand value should help you get more buyers when you plan to sell.

My friend bought a 3BHK at Brigade Metropolis, and has to pay a maintenance amount of 4k+ per month. Monthly maintenance charges is something most of us do not take into account when buying.

[mjothi]

Originally Posted by benbsb29

My friend bought a 3BHK at Brigade Metropolis, and has to pay a maintenance amount of 4k+ per month. Monthly maintenance charges is something most of us do not take into account when buying.

Add to that legal hassles. Yes, check with him about the club amenities. The association is fighting with brigade for it.

Because, brigade asks for annual membership + monthly fees for using the GYM and clubs.

Its like you get the money from owners, build it and charge it again from owners

Btw, I always have this doubt. What will happen after say 30years/ When the building is not good to be used/

I already find that dealing with 16 houses in small apartment itself is difficult. Unable to convince all to get it demolished and re-constructed through builders... Imagine these 100s of house

[Spitfire]

Originally Posted by mjothi

Add me to the list.

I think that is amitk26's question. Somebody else before, I believe it was mkh said, i dont see the the 14% deduction or that a 1 crore place can be brought down to 70 lakhs.

Let me try and explain, it certainly wont be like that. Not now not never. Even when recession hit it was never like what sold for 1 crore went for 70 lakhs or there was a straight 14% reduction by the seller over the original price.

If you guys are looking out for something like that forget it. Will never happen, this is real estate not Honda City.

Slowdown or reduction is easily understood, someone said the brokers keep calling more frequently. That is a bright sign. Another is banners of apartments put up for sale on other side of town.

Like an apartment selling in Whitefield has a banner in BTM layout. This happens but not as frequently. But is a sign. recent being what I think is thew Skylark apartments.

The sign are varied. If one enters the market with a fixed budget even less then 50 lakhs for a 2BHK houses are available even in Marathahalli. Issue is you might not get everything you want + might lose the brand name.

That brings us to the huge question of EMI and value of the house. With percentage rising please calculate your outgo when the loan is completed.

Also remember rent is not increasing anymore. Its either totally stagnated or is going down. Too many choices. Empty unsold apartments are being given on rent.

Eg. People looking at Alpine Eco, be sure you guys are the first inhabitants. As it might be "your" house.

With the lax government and the even corrupt officials all this is happening like clockwork. I am digging the underbelly of this place.

One of the many reasons why I still don't have a house of my own in this city.

Originally Posted by eastwind

@Spitfire and Benbsb29: a small qn-Apartments like Brigade Metropolis, Prestige Shantiniketan etc in Whitefield, are they worth the 75L+ quotes?

Yes it is worth. Considering what you mean by worth is, only house you will ever buy in Bangalore, not an investment but you want to live in, will take a loan, etc. Basically something which once you are done with is shut off for another 15-20 years.

Originally Posted by mjothi

Because, brigade asks for annual membership + monthly fees for using the GYM and clubs.

This is HUGE man. Really huge. Try and ask around even in the branded ones. The small time builders is a story all together a different one.

But smaller is more containable.

Btw, I always have this doubt. What will happen after say 30years/ When the building is not good to be used/

As per norms you own a piece of land too. But here in Karanataka especially this is one big huge scam.

I already find that dealing with 16 houses in small apartment itself is difficult. Unable to convince all to get it demolished and re-constructed through builders... Imagine these 100s of house

This can be achieved. Problem is the type of owners. With black money and easy money flowing into this city in huge containers. One black sheep who has a lot to hide gets worried. So when you come across such a situation, try and see who is making the biggest noise. You have your black sheep.

All those guys who are in Bangalore east, most of you above are. How about meeting up over coffee. A Team BHP Property/Real Estate MEET

[mjothi]

Originally Posted by Spitfire

All those guys who are in Bangalore east, most of you above are. How about meeting up over coffee. A Team BHP Property/Real Estate MEET

Do you really need a reason for guys to meet up!!

Any time sir. We use to meet quite frequently, but off-late not sure why it never happens. Haven't met the guys for months

Sorry, for little off-topic.

[NoMind]

Originally Posted by mjothi

Do you really need a reason for guys to meet up!!

Any time sir. We use to meet quite frequently, but off-late not sure why it never happens. Haven't met the guys for months

Sorry, for little off-topic.

Please include us Southies as well (b'gatta rd)