Hmm. After checking out a few properties and other due diligence, it seems like we would fall around 2500 psf taking the following into account:
- proper Baner
- residential NA
- FSI of 1 (or more)
- asphalted internal roads (upgraded from original spec)
- central water tank with softening plant
- MSEB connection to plot
Buyers would pay 2500*area plus stamp duty plus registration plus one time maintenance. Inputs that went into this number crunching: cost of land, paperwork, compound wall, water (tank+pipes+softening), MSEB connection, space for roads, other mandatory free space, road building etc.
No common sewage and
no streetlights.
Can someone do the number crunching independently and double check the numbers ?
Also, are there any buyers out there at these prices. A house on a 3000 sf plot would cost:
- 3000*2500 for the land
- stamp duty+registration+maintenance
- construction(3000*1200 assuming utilising all of the FSI and construction costs of 1200 psf)
- Totals to about 115 lakhs
Flat rates in the neighborhood are over 3500psf. A 3000 sf carpet area flat should come to about 110 lakhs all inclusive.
This doesn't seem much better than buying a flat. The high ticket size may also mean smaller interest in the project.
Seems like a non-starter unless I am missing something
Quote:
Originally Posted by asliarun
Plots like this are being sold for about 2000 a sq ft in Bangalore, in similar locations (outskirts).
|