RAVIKANTH

In the next 3 to 5 years, 5 hotels will become operational on the Marathahalli Junction to Silk Board Junction along the ORR. All the five are 5-star hotels and are currently under construction. Prestige Aloft with 208 rooms, Pacificia Marriott with 201 rooms, Assetz Edom with 250, Shangri-La with 330, Salarpuria Hotel with 250 are the five star hotels.

RAVIKANTH

BEWARE - BEML 10th Stage, Channasandra Bangalore - Illegal Sites
I nearly escaped a dubious deal 4 months back. The real estate broker was
persisting me to buy a site in BEML 10th stage, Channasandra Village. I was
able to ...
<BEWARE - BEML 10th Stage, Channasandra Bangalore - Illegal Sites>

RAVIKANTH

I have to quote your 3 lines in particular here again below:

"Initially had aimed for a 3BHK, but then, not sure if 3 BHKs are available at around 40-42 Lakhs. (A classic example of price remains same, but size gets reduced)"

I am sure you will not get a decent size for 42 lacs in Whitefield. Like you compromise with your colleagues or work atmosphere or with your ugly boss's temper tantrums, you will have to compromise with either the location or the budget.

If you can not compromise with budget, then you got no choice but to compromise on location and move farther away from Whitefield.

Right now, in a centrally located area closer to Whitefield, "off Sarjapur Road" areas are the only ones where you may find a decent big size for under 45 lacs. Else you have to go to KR Puram and or Old Madras Road.

A decent 3 bhk in Whitefield can be found only for around 65 lacs.

DSR Green Fields in Whitefield on 3.75 acres, 6 blocks, 222 units, in a G + 4 project, was available at 2800 psft on 19.5.2012. Not aware of the latest price at the time of posting this message. You need to hurry up to lock in your price and unit after talking to them.

The same DSR also has Sunrise Towers in Whitefield but the price was 3800 for lower floors and 4075 for upper floors on 27.4.2012 in a B + G + 14 tower project.

Guys like you and in similar situations like you can work on another alternative:

You need to buy something cheaper and affordable, in upcoming areas like "off Sarjapur Road" areas, buy (book now) a 3 bhk of above 1500 sft BUA when prices are still ruling under 2800 psft, when ready, rent it out for 15 K. In turn, you should take one on rent near your work place in Whitefield or whatever area/location for 15-20 K, a 2 bhk or 3 bhk - whatever size is required based on family size and thus, have the cake and eat it too.

This is the best way you can build an asset and also beat the rising prices, instead of wasting your time hankering on "location, location and location".

Location is not the panacea of all ills. Owning a property in Bangalore in an upcoming area, is the panacea of all ills. At the same time, your residence (rented flat, in this case) in the location of your choice is also a panacea of all ills. For that, you can take a rented apartment and just feel it is your own. Anyway, you have your own apartment too, somewhere in Bangalore, bought at a good price, which is being used by someone else as a tenant, right?

At best, you could be losing just 5K extra as rent outgo from your pocket, assuming you take a 20K rented flat.

anil18

Mr.Ravikanth, you are really doing a great job by doing "Gnan Dasoha"[Knowledge Charity].It requires lot of patience and also sensibility to respond by understaning the need of the person asking question.

Please keep it up... i cant contriubute to this forum much but atleast apreciate who are doing it

RAVIKANTH

Big Builder grabs 10 acres in North Bangalore and threatens illiterate landlord with help of goons.

Full Story and Update tomorrow at 10 pm India Time.

Meanwhile, alert your friends, relatives and tell them about this new developing story. Stomach churning, spine chilling, story update tomorrow.

Come back here tomorrow, for full story. Till such time, read the below thread:

First hand experience in Bank officials and Goons nexus in foreclosed property

schakro

Hello Ravikanth ,

Can You Please Share Your Opinion about the location and credibility Of MJ infrastructure upcoming project Azaliya.They are quoting 2150 for 3bhk 1560 sqft.


Thanks

RAVIKANTH

In the thread below. 2 guys were wondering about the location of a 9 acre land bank of Hindustan Unilever in Whitefield on which Brigade will put up a high rise high end tower.

http://www.indianrealestateforum.com/bangalore/t-brigade-gic-develop-hul-property-whitefield-34927.html

The location details may be of interest to Whitefield property hunters or current property owners of that area.

Here is the location details of the 9 acres 18 guntas of Hindustan Unilever which was jointly bought by Brigade and the Singapore Government:

The landbank is located in Whitefield Village, Krishnarajapuram Hobli, Bangalore South Taluk.

The Survey Nos. are:

S.No.
21/2 with 3 acres 38 guntas
24/2 with 3 A 10 G
25/2 with just 1 gunta
26/1 with 11 G
27 with 24 G
29 with 1 A 14 G

Since 40 Guntas = 1 acre, if u add up the above, u should get 9 A 18 G.

On the east, the land is bounded by Survey No. 22 and the Whitefield Main Road.

This is where the Brigade Apartments will come up in Whitefield.

Since the land was bought at 130 crores, if you add about another 20 crores as incidental expenses as brokerage, stamp duty, registration charges, it works out to 150 crores as acquisition price.

At 150 crores, the rate works out to 3625 per sq.ft. land price.

A rough guess and a quick back-of-the-envelope calculations will give you the following figures:

If you add a gestation period of 2 yrs for their high end apartment project, they will worry about the interest lost on 150 crores for 2 yrs plus also the price appreciation of the land (just like how you do). Thus, the basic current market value and price of the land in 2015 beginning when they launch the project will itself perhaps be atleast 5000 per sq.ft.

Assuming a construction cost of about 1500 per sq.ft. for a high end project with lot of greenery, landscaping, top of the class fittings and accessories, you will be lucky if the project is pre-launched at 7500 per sq.ft. sometime in 2015 Jan when the project is pre-launched.

So, this is what you are going to get in Whitefield in the future.

Those who are avoiding currently available high-end projects in Whitefield presuming that they are too exhorbitant as of today, may want to take a call based on the above.

Brigade, by the way, is planning to raise a revenue and sales of about 900 to 1000 crores from the above project, when launched and completed.

awinrao

Hi Ravikanth,

Could you please post a wikimapia link or google maps lat/lon co-ordinates for the said land? The land cost quoted works out to be 13+ Crores per acre. The price may be justified if it was bang on the main road, but looks like it isn't, with Sy No 22 facing the road?

Thanks as always for your informative posts.

Regards,
Ashwin

rovingeye

Ramky Serene Woods

• Exclusive 61 Rowhouse located off Hennur road.
• BDA Approved.
• Hurry, pre-launch offer valid for first 10 bookings


Serene Woods is an exclusive residential enclave comprising 61 Row Houses in a lush green environment off Hennur Road. A limited edition Row Houses that hosts a gated community, it is a blissful departure from the overcrowded multi-storey apartment complexes that dot the Bengaluru skyline today.

Loaded with Amenities like: Swimming Pool, Clubhouse, Gym/Fitness Room, Indoor Games, Open Terrace Party Area, Landscape Gardens & Childrens Play Area

Is this any good?

RAVIKANTH

Here is the full story and link to it:

Recently, Kirloskar Systems Limited, a city-based leading real estate company, has been accused of grabbing 10.3 acres of land belonging to a backward class family in Hebbala village on Bangalore north division. Sixty-year-old Muniyappa, a resident of Ramachandrapura, Harijan Colony in Yelahanka, has filed a complaint with the Amrutahalli police alleging that the company chairman and other board members of cheating, fraud and forgery on Saturday.
Muniyappa, in his complaint, said the 10 acre and 39 guntas of land at survey number 71, is ancestral property which was granted to his grandfather by the state government. The family is since then using the land for the source of their income and even the land records including Moola Hakku book (the title deed) and relevant documents have mentioned the name of the family members as the land owners.
The incident came to light when Muniyappa went to the jurisdictional sub-registrar office for some work, and found that the company has created and executed a sale deed and even got the land survey done.The company later got the fresh records claiming that they are the owners of the land, Muniyappa said.
The land in question has neither encumbered in anyone’s favour nor the family executed the sale deed to anyone’s favour, he said in his complaint.
Muniyappa approached the SC/ST legal cell seeking advice and while the matter is pending, the company tried to dispose of the land, after threatening the family members with dire consequences to force them to vacate the premises, Muniyappa alleged.
When Muniyappa approached the jurisdictional police, he was sent back with an advice to go to the court since it’s a civil dispute.
Based on the advice of the police, Muniyappa approached the city metropolitan magistrate who directed the jurisdictional Amrutahalli police to investigate the case, and submit a report

Gangs of Bangalore: With land sharks, you lose the plot - Bangalore - DNA