Buying flat in bangalore?
How do you guys approach buying flat / villa in bangalore? Any good contacts if you can share would help ? Are online portals reliable for searching ? How was your house buying experience if you can share :) Please feel free to to post any recommendations as well. Thanks a lot in advance :)
LosingmakesnoCents
Stealth
7 months ago
Please be aware of the water situation in Bangalore. All these builders are selling flats without any proper water planning. Most new properties don’t have borewell / Cauvery pipeline connection and are completely reliant on the tanker mafia, which is taking them for a ride.
You can check out property websites. Pls don’t put your number on those sites. Once you check out the properties, schedule visit to those properties.
After taking under-construction apartment, I would suggest you to not opt for it. This is from personal experience.
Ready to move in flats would be costlier but you would be able to know how the facilities are(from already occupied flat owners).
Negotiate very hard with the sales guy. Try to start negotiating from 20% discounting on the quoted price. I got 11% discount on the quoted price, and was able to save close to 10 lakhs(I feel that I should have negotiated more).
As early pointed out, pls check for water source. Our society has one borewell. Recently, we had to get one more borewell dug and this is just within 3 years after move in. So water crisis is very well a reality.
We got our project in Godrej. They have very shitty construction. It was offered to Capacite Infra, and they really a shitty job. Lot of seepage coming in, the construction quality is pathetic. This may not be true for other Godrej projects depending upon the infra vendor. That’s why I would again suggest you to go for ready to move in flats. One drawback would be limited availability of apartments.
Equitymaster
Stealth
7 months ago
Buy ready to move in property even it is costly. Better if you can rent property for 6months in same society so that you get a idea of pros and cons.
Do not go too far from city or your work place just due to price unless you have remote work.
Villas are good but don't go for 30-50 villas project /small projects.
Always negotiate, there is always scope for 20%-25% negotiation ( not with big builders).
Also on separate note, Real estate bubble will burst soon, so if you can wait for 6-12months, you will be in better position to bargain.
Our society was in high demand 8-6months back with no flats available. But now we have good 4-5 apartments available on rent, which is good indication.
NoisyGuy53
Stealth
7 months ago
excellent advice overall. the only place you are categorically wrong is the real estate bubble bursting. The real estate prices in tier 1 cities will NEVER go down. It will at max stay the same. the builders will much rather sit with unsold inventory for years rather than sell at a cheaper price
Equitymaster
Stealth
7 months ago
Yes, it won't rise for big builders but for small builders it will go down as they can't hold inventory for too long.
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Can someone suggest which builder / projects to aim for if you have any recommendations :)
TinyHumidity
Stealth
7 months ago
Check online portals square yard,99 acres etc. For new projects choose area, project and visit the site. They will give all plan details, show demo flat and costing.
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