Team-BHP - Bangalore Real Estate Musings

Quote:

Originally Posted by ninjatalli (Post 5830908)

...1. Apartments at an appropriate / reasonable rate that is somewhat in line with market rates and historical figures for that complex. 9 out of 10 are by owners who generally end up selling to fellow residents who have lived as tenants or have visibility of how good the complex is and are always on the lookout for apartments for sale. Most such apartments get booked within a few days; sometimes the rates are agreed and token is paid up within a day.
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Thanks. Point 1 seems to be pretty valid and that happens a lot in my existing society too. clap:

Seems like I'll have a to rent a place in a society before I can even buy anything there. Kinda inconvenient (go to a new society, shift entire belongings, rent existing house to a new tenant, look for opportunity in new society and then buy), but yeah makes sense.

Quote:

Originally Posted by ninjatalli (Post 5830908)

2. Apartments that are extremely inflated rate that is shared on housing forums (99Acres, MagicBricks, etc.). 9 out of 10 such ads are by brokers who at times collude to ensure the image of a higher price point is maintained for that apartment complex. Such ads stay up online for months but what they do is ensure the price point for the 3rd block (below) is raised significantly up.

So true. Even owners are colluding to publish super inflated prices. For example in my society ( in Hyderabad ) in the owners whatts app group there were messages not to post less than 12000 per sqft on external websites. There was even a threat that anybody posting less than that would be named and shamed. Interestingly internal sales are happening at around ~8700 per sqft.