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Old June 21 2012, 04:41 PM   #1
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Default 2400sqtft site, Independent Homes or Apartments?

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?

 
Old June 21 2012, 05:59 PM   #2
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Quote:
Originally Posted by abigthinker View Post
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?
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
 
Old June 21 2012, 06:34 PM   #3
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Thanks Mithun for the reply. Could other members or you recommend any builders/developers?
 
Old June 21 2012, 07:15 PM   #4
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Originally Posted by abigthinker View Post
Thanks Mithun for the reply. Could other members or you recommend any builders/developers?
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
 
Old June 21 2012, 07:30 PM   #5
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Default recently they changed rules,, 2400 sqft not sufficient for apartment

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



Quote:
Originally Posted by abigthinker View Post
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?
 
Old June 21 2012, 07:43 PM   #6
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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.
 
Old June 21 2012, 07:51 PM   #7
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Quote:
Originally Posted by abigthinker View Post
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?
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
 
Old June 21 2012, 08:12 PM   #8
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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?
 
Old June 21 2012, 08:29 PM   #9
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Originally Posted by abigthinker View Post
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?
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.
 
Old June 21 2012, 08:54 PM   #10
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Thx Mithun
 
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