ForumQuizzer

Hi,

I wanted views/opinions of the experts on buying resale flats (which are old constructions) in prime areas.

Is it worthwhile to go for a flat in Kothrud (say Dahanukar colony) which is 15 years old? What can be the prevailing rate for such a flat?

Is there a thumb rule as to how one can arrive at an appropriate market price for such locations?

Areas like Kothrud, Karve nagar, Bhandarkar road, etc. have a lot of old properties to offer. But the rates in these areas are typically very high (5-6K). What discount can be expected for such old constructions?

Thanks,
FQ

realacres

Flats more than 5 years are not worth considering. This is my personal opinion. Also note that banks will give you very small amount of loan for old properties especially for flats as there is no land component present.

kothrud_pune

While 1 BHK resale flat of decent size of 500 starts at around 18+ lakhs in kothrud area. Now a days new trend is starting i.e. redevelopment of old building.
So I atleast donot see any issue in purchasing old flats except bank loan.

That can be a good option if u want to stay any developed area within your budget.

Another advantage is you will get more area in less rate.as carpet to build up area ratio is good in old buildings.

compuwalah

Are you sure that one can get 500 sq ft flat in Kothrud in 18 lakh ? Maybe near Chandni chowk - Kothrud Annex . I hv seen one of my aquaintance having a open offer of 35 lakh for a 650 sq ft near MIT College.

mannusingh

You can generally get better rates for older flats at better areas than new builder projects in those areas. This is typically true for areas where new development is very rare and new projects if any cost an arm or leg. for eg: I frequently see 2 BHK at Raheja woods in kalyani nagar for 50 - 55 lakhs whereas nothing new around that area comes at that price. I am not considering Kumar kruti resales as these have way too many extras which push the final cost way beyond 55 lakhs and its completion is still a a big ?

yatinc

I doubt you will get in 18 L in kothrud. Recently, just a week back, 1BHK in anandnagar, Kothrud, around 530 sq feet, was solved for 24.5 L

kothrud_pune

yes u r right ...I said start and it will increse depending on area . Till an year back areas near eklavya college had flats in that range but now i can see all above 20 lakhs. Not sure how the rate gone up?

mginamdar

A colleague of mine is selling his 1BHK right near Sairang / Ruturang...I guess he is quoting around 25lac for ~600+ sq.ft.