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Old January 1 2014, 03:19 PM   #1
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Default How to calculate the real value of the flat

Hi, I have been visiting various areas in Bangalore to purchase a 2BHK flat. All the builders are quoting 2bhk in between 40 lacs to 50 lacs. Very few are giving OC and individual A-Katha. When I visited a flat recently in varthur which is in prelaunch and they quoted 42 lacs for 1177 sft flat. However when I visited borewell road in whitefield the builders are quoting 42 to 44 lakhs which is ready to move in. I'm confused about the price while a builder is selling flat at 43 lakhs which is ready to move in how can the other which is still in prelaunch can quote the same price. Almost both the apartments contains same ameneties, same open space and same area. I thought I will get prelaunch flats for cheaper price but I couldn't find much difference between them. I'm not sure whether any buyer is purchasing a prelaunch flat for 42 lakhs. Could any one let me know how to find out the real cost of the flat?

Thanks.

 
Old January 1 2014, 04:36 PM   #2
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Hi Srikanth,
You are very true in your observation. The price difference is based on few genuine factors like Brand Name, Quality of Construction, Respective Area appreciation, current Market. Apart from that, mostly it is the Hype in property of B'lore where it is sky-touching. My requirement is mostly same within 35-40L max for a 3BHK of +1500 sft. As I am away from B'lore, its being a tough call for me to invest currently. I am planning to move soon.

Coming to your current confusion, take a call based on quality of construction for the RTM flats through inspection by a quality engineer. i firmly believe for end use, RTM is best even if it is couple of lakhs more. If you are looking for Investment purpose, for the pre-launch, go for reputed builders instead of newbies...Happy hunting!!!
 
Old January 1 2014, 06:05 PM   #3
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Quote:
Originally Posted by srikanth721 View Post
Hi, I have been visiting various areas in Bangalore to purchase a 2BHK flat. All the builders are quoting 2bhk in between 40 lacs to 50 lacs. Very few are giving OC and individual A-Katha. When I visited a flat recently in varthur which is in prelaunch and they quoted 42 lacs for 1177 sft flat. However when I visited borewell road in whitefield the builders are quoting 42 to 44 lakhs which is ready to move in. I'm confused about the price while a builder is selling flat at 43 lakhs which is ready to move in how can the other which is still in prelaunch can quote the same price. Almost both the apartments contains same ameneties, same open space and same area. I thought I will get prelaunch flats for cheaper price but I couldn't find much difference between them. I'm not sure whether any buyer is purchasing a prelaunch flat for 42 lakhs. Could any one let me know how to find out the real cost of the flat?

Thanks.
Pre-Lauch Properties are majorly for Investors. They prefer to pay only a part of price and pay in parts later to enjoy appreciation.
 
Old January 1 2014, 06:25 PM   #4
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Thanks,debubiotech

I agree with your suggestion to take RTM for end use. If I'm going through a small builder how much I should bargain. Suppose if they quote 45 lakhs from which rate I should start bargaining. I believe the user will get good price based on his negotiation skills. When I'm planning to purchase an underconstruction apartment I'm visiting their old project and taking feedback from the owners and proceeding.

One more thing which I observed is I visited a property called Isha Misty green in the whitefield along with my wife and I choosed couple of flats and they told they are available. I told I will bring my friend and will take his opinion and will finalize the one among two. Once I cameback in an hour they told they are sold out just 10 minutes ago and they asked me to choose other ones. I didn't liked the others and left. My friend who got some experience with real estate told that I will definitely receive a call next day that the flat which you had choosen yesterday was available. Surprisingly those guys called me next day and told that the flat that I choosed is available as the person who booked the flat had choosen other one. My friend told it's common in bangalore that the builders always try to sell non-premium flats like which doesn't contain proper ventilation, open space etc.

Most of the builders who had completed only one project they are comparing themselves with shobha,presite and brigade. They are telling we are using much better compared to A grade builders.
 
Old January 1 2014, 10:45 PM   #5
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You have done some good searching work.Quality difference is there to some extent between big ones and mid-level ones.But you can choose mid-level builders safely keeping in mind your investment. Value is based on the brand name and the accessibility of the area. IT corridor [hosur road,ITPL,Whitefield,ORR etc] commands some value as the offices are nearby for many buyers. Search for an area with good water availability and transport facility.Generally value depends on some hype also.
Some builders [apart from fat cats] are ok from my experience or limited knowledge.
[1]They are Mahaveer ,concorde,Bren corp,MJR,Skylark,vaishnavi group [north],etc.
[2]Other smaller ones are VRR,MJ infra,Aratt, confident.
I feel the first list is better than the second one.[you be the judge].
Regarding smaller builders, there are some surprising ones here and there but you have to search because most of them are into 12 to 15 apartment building work.
A surprise that I came across was Adiga construction.He seems to have started his second project near Jambu savri dinne. The first one has been complete and it is called Adiga vishwothama [??] near the same area.The quality is not bad and some 2bhk are still available though it is RTM. I saw this recently .

Quote:
Originally Posted by srikanth721 View Post
Hi, I have been visiting various areas in Bangalore to purchase a 2BHK flat. All the builders are quoting 2bhk in between 40 lacs to 50 lacs. Very few are giving OC and individual A-Katha. When I visited a flat recently in varthur which is in prelaunch and they quoted 42 lacs for 1177 sft flat. However when I visited borewell road in whitefield the builders are quoting 42 to 44 lakhs which is ready to move in. I'm confused about the price while a builder is selling flat at 43 lakhs which is ready to move in how can the other which is still in prelaunch can quote the same price. Almost both the apartments contains same ameneties, same open space and same area. I thought I will get prelaunch flats for cheaper price but I couldn't find much difference between them. I'm not sure whether any buyer is purchasing a prelaunch flat for 42 lakhs. Could any one let me know how to find out the real cost of the flat?

Thanks.
 
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