abigthinker

I have a site 60' east road facing and 40' deep ( 2400sqft) in Basapura Bangalore. I want to start the construction because I don't want to keep the site idle. Btw I am living in the USA.

Could you please answer these questions?
1) seems like 7000+sqft is minimum to go for apartments in Bangalore. but I have seen a couple of places they constructed 8 units in 2400sqft site. can I do the similar thing?
2) can I find a developer who can construct 6-8 units and they can own some and I can own some for future renting purposes? I am asking this because I don't have enough money construct 6-8 units and I can't be stay in India for construction for 6 months as I have a job in USA
3) If #1 and #2 is not an option for me, what are my options?
4) what is the typical time in months to complete at least 1 floor of construction with 2 units?

mithun

i think its doable - i have seen an building put up in 2400 sft in LB shastri nagar 6th cross.g+3 model with basic amenities.it ws done so well and the best part is- all the units are sold out already and the building is not completed yet.eash aprtment was sold a minimum of 30L.

So to ans your quetion- yes its doable

abigthinker

Thanks Mithun for the reply. Could other members or you recommend any builders/developers?

mithun

well i am sure there are many builders and developers who can take it up.

I do not know anybody personally - but you have to be really cautious when you take this step since you are not in blore/india

well a humble small thought- you may consider visiting this apartment and see how this builder has done the job.his name is krishnamurthy who has done 4-5 projects already and is from AP - you should also make an effort to speak to his customers just to get the hang of what kind of a person he is to deal with.any -ve feedback neeeds to be taken serously- unfortunately i have lost his number.meet him personally- he seems to be a very genuine chap and has a good reputation from what i have heard from localites in that area.And then ask him if he was interested to take up the assignment.see how the discussion goes.atleast you will get a first hand understanding of the process atleast and you wont be shooting in the dark.
but again its a big step - and its a very big step cause you are not in india.
i am sure there are gurus here in the forum who can contribute more.
but from what i see - i think i would do the above just to get a first hand info and knowledge.also dont forget to speak to ecopack - 9342816151 & 9980866144:ECO PACK they offer RE services.you never know you might get a lead. what say - hope this info ws helpful

injrav

Recently they changed rules
2400 sqft is not enough for apartment construction
It will always on single owner name

I guess you canot sell each unit

but you can do other way
1200, 1200 sqft.. build two houses on each 1200 and sell one to other

abigthinker

I am looking for joint venture (Land provided by me and the construction expenses taken up by the builder) for the development. If anyone is interested please contact me.

mithun

1st option - basapura is a great location - i suggest you hang on to the place for some more time-that road has been notified for widening - as it connect ecity and gottigere bannerghatta rd.so keep it unless you are in need ot urgent funds

2nd option - build and sell - its a pain especially when you are not around
3rd option - jus sell the land.i am sure there would be a zillion buyers

abigthinker

Mitun, I am not in a hurry but only issue is that I am bit scared to keep the land vacant for long time. I have someone who can look at the site a few times in a year.

any options to use this land until I sell or construct in the coming years?

mithun

put a all round compound wall with a single room - and put up a small shop and give it out for rent.pls ensure you dont let anybody know that you are not here in blore.

abigthinker

Thx Mithun