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Resale flat value

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Resale flat value

Last updated: February 23 2019
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  • Resale flat value

    Hello,



    I am planning to buy a 5 years old 'B' khata Builder floor apartment in Puttappa Colony, New Thippasandra. Only basic amenities like Power Backup, Security and Lift is provided.



    I plan to shift there for few years and rent/sell later.



    Looking for suggestions if buying this apartment @65L is worth with bank loan
  • #2

    #2

    Re : Resale flat value

    What is the name of the society. There might be an existing thread on the project.
    Talk TRUE; Talk IREF

    Comment


    • subramanyam
      subramanyam commented
      Editing a comment
      No name
  • #3

    #3

    Re : Resale flat value

    You have not mentioned the sqft area of the Flat.. I assume a median of 1400-1500 sqft.. which means you are paying 4000-4500 per sqft for the apartment. This is pretty high in today's market. Especially for a B khata property. New Thippasandra is a A khata area.. so if there is a B khata flat being sold you need to ask the question why is it a B khata in a core A khata area. Mostly this will be due to extra floor/deviation from sanction plan/no setback. So its a huge risk because these properties will not resell and even if they do, the resale will be at Rs 3000 per sqft or lower. The bottom line is Banks dont fund B khata properties anymore and NBFCs used to fund but even they are all underwater now. So B khata properties resale market is finished.



    And your outlook is 5 years, As the apartment ages the depreciation in prices is accelerated. You may not even recover your investment. So best is check out the place for rent. If you buy it your EMI will be Rs 50000 or more after accounting for around Rs 20 lakhs are your investment. The same place can be rented for Rs 20000 or even Rs 25000.. so it makes sense to just rent and enjoy your life. B khata properties mostly have given pain to investors. Better stay away.

    Comment


    • subramanyam
      subramanyam commented
      Editing a comment
      Thank you for the suggestion.


      The area of the flat is 940sqft.

      It is a 'B' khata due to deviation in the approved plan. Owner says Canara Bank will provide the loan.

    • Somashekar
      Somashekar commented
      Editing a comment
      7000 Rs per sqft.. You will get Prestige or Sobha property for that rate.. clean OC A khata property. The value of the flat you are quoting is not more than Rs 40 lakhs... All I can see is a recipe for financial and mental disaster. Please avoid it and look for A khata properties which are funded by SBI or HDFC.

    • subramanyam
      subramanyam commented
      Editing a comment
      Have been checking many projects both old and new in this area. Nothing less than 70-75L for a 10yrs old building.


      Decent builder properties are starting from 1.3cr onwards.
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