kenfrapin

Dear All,

I have just joined the forum and surprised I have never come across this site for so long. I finally found a place where there are good discussions across cities and builders.

Before I post my query, I would like to give my background. I am 28, married for 3 years now and planning to start having juniors very soon :-)
My parents live in Sun City, Sarjapur Road and we can live with them always.

For the long term, say in 10 years or so, I would like to build my own house. I have never preferred flats and love the feeling of owning my own little plot of land.

Now my query

I have searched the net but nothing is better than advice from experienced people. I am interested in purchasing a plot. Size does not matter but it should not be smaller than 1200sq ft. There are a MILLION adverts for plots in Bidadi, Mysore Road, Sarjapur Town, Devanahalli, Tumkur Road and on and on.

Is there anyone who has successfully invested in a plot recently? Successfully means no legal hassles and a decent builder or agent who you can recommend to be genuinely selling good properties?
I plan to finalize the deal in December this year so appreciate any leads if you can. My budget is only upto Rs 15lakhs so clearly my plot will be far out of the main city. I only want to make sure its completely legal and safe.

Many thanks in advance for your help
Ken

aravindbabur

Hi Ken,

I am also sailing on the same boat. I did searching for residential plots around the bangalore. especially tumkur road , magadi road, mysore road. I zeroed on some plots near NICE magadi road junction which are BMRDA approved. But it seems like property owners are still in the 2008 realty mood.They are not still bending on the price negotiation. Hope they may realize the situation soon. I suggest wait for another 2-3 months. Once the BBMP elections over, they may introduce one time "Akrama Sakrama" scheme to all the revenue sites. So we can expect some good deals.

Hope this info help you
Aravind

equus

Hey Guys

Any luck? Pls share if you did buy something. I am interested in North Bangalore and Sarjapur Road/Whitefield.

Thanks
Equus

arin_12

They have already planned to open the scheme in a week or so, before BBMP election...

__________________
Either land or AIR and FOOD. Choice is yours.

venkit

I am also on same boat.But I did lot research and I am from Chennai. This is not the right time to buy plot in chennai .Flat prices have been reduced 20% .But nothing has been reduced for plots.Owners still quoting the peak price and it is likely to be unaffordable to Common man(even for IT & ITes).What I would suggest that to Buy only If you have a desperate need to build a house and negotiate hardly with Land owner.DOn't go with any big promoter or broker.In this case they have a margin of atleast 20%.If you go with individual seller.You can save this money.Check the legal issues with some good lawer.But If you don't have a desperate need,It is better you wait for next two years (or even more).RE crash won't happen in days or months.It takes some years.Even If the prices hasn't go down , it won't go up for atleast 2 years.It is bettter to wait & watch.Investing in RE at this price is likely to jumpin the well with the stone.Be carfeul.

kenfrapin

Hey guys,

Was caught up with work and just saw the replies today. Yes, I have been hunting around as well.
There is a great website call allcheckdeals dot com for latest appartments on sale in Bangalore.
I was looking at Vakil Housing. They seem to be reputed builders and they are selling plots in outskirts, one a little away from Electronics city. Anybody has info on Vakil?
My parents live on the Sarjapur ORR in Sun City so I too would prefer to get something close. Have you looked at projects around Wipro Corporate Office and surrounding areas? There is a lot of work going on here but impossible to find info on the net :-(

Any leads from members here will help us all!!!!

Cheers
KP

bahdelin

In my opinion now is the right time to buy... bcz in few days there will be elections and BBMP issues will be solved. BBMP will accept the betterment charges and making akrama- sakrama which will trigger the local market and prices for land will be increased.

rajeshbr

on the other hand, akrama sakrama may release lots of sites into market resulting over supply. Currently, thousands of sites under old cmc, CP are loacked up because of no bank approvals and creating the scarcity of sites under old BDA approvals. I don't how to evaluate.

rajeshbr

on the other hand, akrama sakrama may release lots of sites into market resulting over supply. Currently, thousands of sites under old cmc, VP are loacked up because of no bank approvals and creating the scarcity of sites under old BDA approvals. I don't how to evaluate.

bahdelin

I understand your point it's a good point but my interpretation is this ..... the residential land affected by this rule are not major from real estate owner but only independent owner and resellers and any one after getting clearance from BBMP will not reduce the price BUT increase the price.

In conclusion there are chances of prices going up for these residential lands than coming down. As there will be no risk in buying, you have clear entitlement and you can get bank loans(which i hate...) as well