drone79

Dear Ravikanth,

I have read through several of your posts and quiet frankly am impressed by the amount of research and your willingness to share it with forum members.

I am new to this area of home buying and am looking for a 2/3 bhk in the Sarjapur road/Outer ring road/Marathalli area with a budget of around 75 lakhs.

I work in Electronic city and am okay with any project (Apt/Villa) which can be a good option from investment point of view. As I am not looking for "Ready to move in" projects so, I am okay with new launches as well.

I have been doing my research and have visited some projects, but honestly the deeper I dig the more confused I become.

Would appreciate if you could help me with some pre launch/new launch options available in these areas.

Thanks in Advance.

shnkkm

Dear Ravikanth,

I am planning to buy a plot from my friend (he is also NRI) in Attibele-Sharjapur road next to Sundale Saiguru project(just 2 KMs from the Attebele junction). Plot is in a DC converted layout developed by Pathy Housing during 2004. Is it advisable to buy? If so what is the reasonable price in that area for that land category. It is part of Indlabele village opposite to entrance of Liberty Acres-Luxury premium villas.

Thanks in advance.

Regards,
Haja

hashwini

Dear Ravikant, thanks a lot for helping people over here. I am planning to buy an apartment in sonesta medows in marthahalli and want to know your feedback on the same. Builder is asking for 3500/sq ft for the road facing + east facing apartment. I am looking to buy 1750 sq 3BHK flat which would come around 75L. Is it advisable to buy at this place? You opinion will be highly appriciated.

RAVIKANTH

Drone is a nice name. The US is doing a good job by launching drones on our enemies in Pakistan.

75 lacs is a magnificent budget for a first time buyer, first time home seeker. Obviously, then, u must be young. So, my advise to u would be to buy 2 flats with this kind of money, instead of parking it all into one flat or one villa, since u cant sell half of it one day, when required, or when u want to book profits when prices appreciate.

I am not working anywhere. I quit my job long time ago. I am a full time Professional Real Estate Researcher and a Professional Investor. So, u can be sure, I will put my money where my mouth is. Since I know everybody on this Forum is groping in the dark, I share my knowledge with u guys to shed some light on different projects, areas, localities etc.

Astyllen is a project just 4 kms to Total Mall (and 4 kms to E-City, if my memory is right). Selling cheaply now at 2400 psft. Project is launching next month with BDA approval. I have bought 2 flats there. If u trust me, u can buy there. They have lovely floor plans with 3 balconies for most flats. Currently, this project is in prelaunch stage. Another forum member I know, has bought 5 flats there in the same Astyllen for 5 of his gang. (3 of them are abroad, 2 are in Blore).

If u dont trust me, u can choose anything on the Chandapur Anekal belt or on Sarjapur Road. Choose your project and ask me. I will give u my unbiased opinion.

Just 4 years, at the most 5 years - is what is required for this C-A belt and Sarjapur Road to be the next "hottest" destination in Bangalore. Read my thread - Yellow Zone, Blue Zone, Green Zone, Red Zone" to understand Bangalore better. U will then understand why these 2 stretches are the next hot properties in South Blore.

Large swathes of land in the whole of Sarjapur Road area for miles together has been declared as the "Hi Tech Zone" in the CDP 2015 - which is colored as Purple Zone.

It is the secret that lies hidden in this "Hi Tech Zone" or "Purple Zone" that has transformed yesterday's sleepy dumb ugly Marathahalli into today's most sought after business and residiential district.

In CDP 2005, Marathahalli was declared as the "Hi Tech Zone". It is after this declaration that all those SEZ parks came up there - not because all builders suddenly became mad and started constructing left, right and center there in that area.

The government made them mad by declaring Marathahalli "Hi Tech Zone". It is then that builders rushed to M'halli. Then, after that, I and you rushed after the builders and made them rich.

It is also called Hi Tech Corridor. Check on the google map and look for Hosa Road. U will find a mention of "Hi Tech Corridor" all along Hosa Road. All those huge empty barren unoccupied land banks all along Hosa Road is owned by large big builders who are waiting to launch new large business, SEZ, residential projects on these land banks. My research says these builders will get approval, permission to build huge projects on Hosa Road only after 2015, since it will be Hi Tech Corridor only from 2015, not now.

Astyllen is just 3.5 kms off this Hosa Road. Buy 2 flats with 75 lacs, stay in one flat, let out the 2nd one for rent. Astyllen is just 1 km behind LGCL Bamboo Forest, 150 meters walkable distance to Sophia Residential School.

After 5 years, sell both and move into a 2 crore villa, if villa is your dream. I am sure u will still be then just "under 45".

Deepak_P

Dear Ravi ji

With due respect i must say that your feedback was indeed helpful and i never question that. Your research and knowledge is truly appreciable, it is me only who is confused. Its like i chose one girl and then next day saw another beautifual girl and then next day other :-) so i respect you lot but as experience people say marriage is only done once similarly property has to be purchased with lot of care.
Your comments are always welcome.
Tell us more about banaglore in coming time.
Can we assume this garden city will indeed be called again a new garden city or will become like gurgaon -- just buildings and offices and no greenary.
Tell me about govt initiatives in making this city a clean and green !!
Thanks
Deepak

RAVIKANTH

Though this Attibele junction is currently haunted and uninhabited, this area has huge potential for future growth, since to spur growth and development, a Metro Train from Hosur to E-City is being planned, though still on the drawing board. Also, large tracts of land are owned by big builders who will launch projects there sooner or later. The STRR planned on this Attibele stretch will be a game changer, though it may take 20 yrs from now to fructify.

U shouldn't worry just because it is DC converted. Before BMRDA took control of several areas in Bangalore, all were only DC converted layouts all over Bangalore. Nothing to worry about it. Just relax.

The fact that Villas are coming up in the vicinity is proof that "Attibele, C-A belt has arrived" and Developers, Builders will soon crowd around that area. It is always like that. First guys buy plots and sit on them for 15 yrs and complain that prices never went up after he bought it. Then, after these 15 yrs, villas by builders come up, one by one. Then, apartments start sprouting up. Then, a new set of tech-savvy guys suddenly start to notice god-forbidden places like Anekal, Attibele, Sarjapur etc (A, A, S). An announcement of one single SEZ in the vicinity will make everyone wake up from their deep slumber, lethargy, callousness, complacency and "devil may care" attitude. The government has some big plans for A, A, S, Yelahanka, Devanahalli, Hosakote, even Mangalore, Mysore, Shimoga, Hubli, North Karnataka, Bellary, Dharwad etc. etc. Though I am aware of every single project in all these places (in fact in the whole state), I am keeping some cards close to my chest.

Many many more villa projects are planned on the Sarjapur, Attibele stretch. Hence, go ahead and buy your friend's plot after getting the papers checked by a lawyer. It is worth paying them the fees. Anything under 1000 psft is a good deal anywhere in that area - since it is a "value" for money investment - though 750 to 850 psft is the right market valuation in Indlabele stretch. If it is under 850, it is a good bargain buy and a fair deal for both of u, without one cheating, duping the other.

I hope this helps.

RAVIKANTH

Kaif, 3 bhks in Bangalore are for keeping, staying while 2 bhks are for renting, since, only 2 bhks are affordable to tenants. Those who rent a 3 bhk from u will quit sooner rather than later as they will buy one for themselves in 2-3 yrs with an EMI.

U must upgrade to 3 bhk if u will stay there or want to sell it after 4-5 yrs for a profitable exit. If u have a rental plan, u may suffer occassionally with an empty flat and even brokers unable to find u a good "payable" tenant.

shnkkm

Ravikanth, Thank you very much for your awesome feedback. I am going ahead to buy the plot.

Regards,
Haja

shnkkm

Dear Ravikanth,

Maxwothrealty has started selling the plots in their pre-launch project called 'Max Sadhana'. It is loacated on the Avathi village, 3-4 kms from Devanahalli. They are telling that BIAAPA approval will be completed in few months. Booking advance is Rs.25,000/- and remaing is payable in 35 EMI's (Rs.25,000/- per month working out to Rs.750/- per sqft). Agreement will be done after paying 10 EMIs and registration will be completed after 18 EMIs. Is it advisable to invest here? This project is located on the NH-7 highway. Kindly provide your expert opinion to proceed further.

Thanks & regards,
Haja

ajanarth

Dear Ravikanth,
I have recently moved to Bangalore from US and as you have rightly mentioned in your thread, I am sitting on a lot of cash and some pressure to think that I need to soon purchase a dream home/apartment.

I am with the hardware/IT industry currently 30 years of age, based out of sarjapur road.

While I was in US, I lived in a small apartment, well within my means hoping for this day when I would R2I and settle into a much bigger place - and try to provide an upscale living experience for my family (assuming that I will somehow solve the servant problem).

Everyday, like a teenager, I fall in love with a property here and then slowly move to another one and in the last 2 months I have atleast thought 5 times that I have found my dream home/apartment.

Finally I decided to bucket various options that I found attractive:

Preference 1:- Find a reasonable plot ~10km off from Sarjapur road - Buy a resale/new plot ~3000 sqft (gated community) - Construct within one year ; Land Budget: 1c to 1.5c ; Building Budget: 50-60 Lakhs

Preference 2:- Find a plot close to/in sarjapur (gated community) at a reasonable size (~3000 sqft) - Construct within one year ; Land Budget: 1c - 1.5c ; Building Budget: 50-60 Lakhs

Preference 3:- Find a completed villa (resale) very close to Sarjapur at a reasonable price: Land + Building <= 2.5 crores

Preference 4:- Find a new villa very close to/in sarjapur, at a reasonable price: Land + Building <= 3 crores

Preference 5:- Find a duplex/penthouse apartment very close to Sarjapur, at a reasonable price: <= 1 crore

From finance standpoint, I am ready to take roughly 50% of the amount as loan and repay it within a decade.
I would really like to hear your valuable comments on my approach.

Presently I have sellers for:
Preference #2 (Lake shore homes @3500 psqft, Owners Court @3200 psqft)
Preference #5 (Sai poorna high end), duplex villas with terrace for @3200 psft

I really appreciate your comments on these two options.

Below is my checklist:
1. Nearness to work (<10km)
2. upscale gated community (with controlled dust and noise), reasonable amenities
3. School community
4. Reasonable rental income if need arises

Thanks a ton for this initiative and I sincerely hope some of the other people will have similar questions as mine and will find your answers useful.

Warm Regards.