Real Estate Bangalore
I guess Bangalore is Becoming the next Mumbai.Its so tough to get a good flat at a reasonable price in Bangalore. And if you are looking inside of Bengaluru the cost is so high. A typical 3 bhk would cost close to 2 crore. And then there are set of builders who confidently say sir we don't give OC and CC.And no gives it in Bangalore. And everything is already sold.Anyone would be like sir only few units left. Even if you buy an apartment how do you plan on paying the emis.How many years.Do enlighten in comments
Indusplateau
Stealth
8 months ago
Politicians have sold this city.
You ask for water connection everyone builder says buys poltiican water tanker, they take cash only.
You ask for road it's on paper planned as CDP to be developed in 30-40 years.
They will first bring IT companies then roads. They built Whitefield and built metro for kengri side first.
Funnily none of these buyer vote in this city. Hence they get this. And they will spend 500 to get D2C brand hair oil to avoid whitening of hair but they will not vote.
I forgot, DK wants to do Elon musk and build tunnels so that his construction company will get contract.
If you plan to buy house here, vote first here. This is what changed Mumbai and killed shiv sena and MNS.
It became super expensive. Buy a plot in a gated community a little outskirts instead. Buying flats makes no financial sense on home loans.
Agree, but do you know good developers to go with? Have seen some of my friends struggle to get the work done. Some have switched contractors half way through
Try known developers like Prudent, Godrej, Prestige etc. The best way is go around and enquire at marketing offices of gates communities. Ask them if they have Release order.
Checkout this post on Grapevine - https://share.gvine.app/H3zs57yPHpHDQYEX8
Home Loan Crisis in India 📈
16+ comments on Grapevine
sleep
Stealth
8 months ago
Link doesn’t open in iOS
1. OC requires approval from fire department who will look at if fire truck can reach all parts of the apartments apart from availability of fire hoses, evacuation plan et all. How many such apartments can conform to this. There was a fire incident in last 2 years which was live streamed but fire truck could not reach and someone lost life
2. Sold out is sold out to channel partners and investors who will flip it back.
3. The tunnel road is never supposed to be built. They will release 400cr for feasibility study to get 250 cr back. The report will bite dust. Same is the case with steel flyover
4. If the suburban rail is implemented, people can easily commute from neighbouring towns like tumkur and hosur. There is a reason that k-ride does not have a full time MD
majboormajdoor
Stealth
8 months ago
The builders lie. A lot.
All Units sold, that's very hard to believe.
They are using Flash sale strategy that Xiaomi and Flipkart use. Put teaser prices on banners and market. Only release very few units in the market and create artificial demand. Either the market has gone crazy (RE tends to get fits every other decade) or it's all a big lie.
If the construction is so good, I would rather buy a second hand flat which is 15-20y old than go for a big name builder launch.
majboormajdoor
Stealth
8 months ago
Secondly, there's a lot of information asymmetry. Equities and RE both suffer from Euphoria, but RE suffers a lot from lack of info with buyers, even renters.
A 3BHK in our society is rented by bachelors for 33K, while a family is renting a 2BHK in the same wing for 43K. Bachelor's usually are charged higher rents than family, yet we find this huge disparity. Last 2y, it's been a sellers market, so prices that we are hearing are grossly inflated.
Indusplateau
Stealth
8 months ago
The thing is it cost 3k per sqft for construction, assume another 1500 per sqft for land, so if he sell it for 9000 he is basically constructing two flats for the price of one. He doesn't have the pressure to sell.
