Mama

Hi folks, I am negotiating for a site in Prestige GlenMorgan, Whitefield, Bangalore. Can anybody advise me what could be the best price keeping the current market trend?
Since this is a BBMP site, what documents I should be looking for the authenticity of the title?
your response is well appreciated.
Thanks

arin_12

Best I can advise is to stay away from real estate right now...

megabytes

Here is what I heard from one of the agents who showed me a lovely studio cottage on a 4800 sqft plot in GlenMorgan:

"The last deal in Dec 09 went for Rs 1400 per sqft."

Now if you visit this place, the proximity to ITPL will leave you shocked. Merely 1.5 Kms away, Forum Value mall is mere 3 kms. But this entire area is literally a dump. There are barely decent motorable roads to the layout. No street lights. No habitation. Stray dogs and occasional construction labourers on bicycles are the only company on the roads. Inside the layout is home to like 3 families and 2 vacant humongous villas. Prestige has rid their hands off this property and failed to construct even proper tarred roads. The club house lies barren and unmaintained. You can still see the hall marks of a piece of amazing residential layout lying waste here! But.. and thats a big but.. if the BDA does manage and maintain this area, the place will see a correction to prevalent rates of around 2500-3000 Rs per sqft. And who knows more if the no of residents in the layout increase and the society becomes better maintained.

From what I have seen, it will be a security issue for you, your children and elders to even attempt to get out of the complex without a car. No auto rickshaw will drop here for sure or just might by charging double!

It has a BBMP approval and the plot I visited was already registered. So no legal issues I suppose. But the lack of proper accessibility and low enthusiasm from the owners to build and also low response from the buyers have left this purchase in a grey area. But owning a 4800 sqft plot merely minutes ride away from ITPL is a big draw. I might go for it I guess

VenkatGM

One reason for lack of development - A lot of investors bought sites here, similar to other Prestige properties where investors/brokers buy maximum no. of sites/apartments and then sell them at a higher price. Prestige/Chaithanya sold off the sites a long time back, once in a while re-sales are happening. Consider this layout only if you are looking at as a investment or would like to build after couple of years, by that time some more houses will come up in the layout. This layout is very close to peripheral ring road also, so you can expect the prices to go up soon.

The association is working with Prestige and BBMP for the development of roads. Hope Prestige will take care of this and other neglected properties (almost all plotted developments of prestige were/are in bad state) as they are planning to come up with an IPO soon.
Venkat

amit9215

Hello, can anyone give me some lead on prestige glen morgan. Im looking to buy some plot in Geln Morgan.

Thanks,
Amit
8050981924

rainbow_india

Can you please let me know the address of this site.. not able to find on the net

deepak_dips

Yes even i tried to find the address..but there was no proper address on the web......I am definitely interested in the property if someone gives me a best deal (may be less than 2000 PSF )

javaguy_pk

Hi Guys,

Last month I went and saw Prestige Glenmorgan layout. It is in a very bad location. It is right next to Ambedkar Nagar and it is a slum where all lower class people live. There are lot of other layouts in whitefield area for investment. But this layout will take decades to improve. If you have black money then you can go and invest. if you are taking loan then its a bad investment in my opinion. Again this is my personal opinion. I did good 8 months of research in and around whitefield. If you need any information I can happily provide. You can shoot me an email at findmeaplot at yahoo dot com.

Thanks
javaguy

javaguy_pk

Deepak,

Don't decide your property unless you go and see it personally. When I went last month the owner was quoting 1600/- psft. Even that was negotiable. I wouldn't buy if they give it for 900/- psft also because it is next to ambedkar nagar which is a slum.

Cheers
javaguy

deepak_dips

Oh. Thanks Javaguy for all the information and alerting me!!! Problem is i am getting frustrated since almost 2 years i am hunting to buy a site in bangalore and somehow (either high price or improper papers) its not getting materialized. The site with low price and good papers areas/localities are all not developed and i cant even 1% forecast development for next 5 years. I can shell out not more than 2300 per SFT and i am strictly looking for 30 X 50 site (Neither more nor less). after purchasing the site i am ready to wait for max 2-3 years for constructing a house for self.