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Buying 15 year old apartment in Bellandur Bangalore

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Buying 15 year old apartment in Bellandur Bangalore

Last updated: July 12 2020
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  • Buying 15 year old apartment in Bellandur Bangalore

    I am considering a 15 year old 2.5BHK apartment in Bellandur, Bangalore near Iblur village for approx 70L.

    PROs:

    It is a gated community. Flat itself is very spacious, well ventilated. It is a big society with very nice connectivity to ORR and near to many big tech companies. This makes my travel time to office very short.

    I believe Metro will help land price in future.

    CONs:

    It is a 15 year old apartment. I plan to stay for at least 10 years here and sell it. I am not sure if I can sell it after 10 years.

    I am considering this as it fits the budget without going away from ORR and having a nice connectivity to all major areas in 40 mins of drive.

    Is it a wise decision to go for old one? Is it possible to sell an old flat?
  • #2

    #2

    Re : Buying 15 year old apartment in Bellandur Bangalore

    Although you have not mentioned the Project Name and sqft , in general buying such old apartments is a waste of money. If you buy it at 70 lakhs today, your EMI + other costs will be close 1 cr for 10 years. If you sell it at that time, you may not even get 1 cr because Old apartments have high depreciation rates. Better to take it on rent . You may get it at around 30000 rs per month for which you get a tax exemption under HRA. Also no headaches of maintenance charges,repairs/ leaks(which normally occur in old buildings), property taxes etc. And by the way, rents are falling post Covid because incomes have been hit and owners cant demand the peak rates anymore.

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    • #3

      #3

      Re : Buying 15 year old apartment in Bellandur Bangalore

      Originally posted by makshi View Post
      I am considering a 15 year old 2.5BHK apartment in Bellandur, Bangalore near Iblur village for approx 70L.

      PROs:

      It is a gated community. Flat itself is very spacious, well ventilated. It is a big society with very nice connectivity to ORR and near to many big tech companies. This makes my travel time to office very short.

      I believe Metro will help land price in future.

      CONs:

      It is a 15 year old apartment. I plan to stay for at least 10 years here and sell it. I am not sure if I can sell it after 10 years.

      I am considering this as it fits the budget without going away from ORR and having a nice connectivity to all major areas in 40 mins of drive.

      Is it a wise decision to go for old one? Is it possible to sell an old flat?
      Can you name the Builder & the Project? A thread may already exist on the Project. If a thread on the Project already exits, this thread would then be required to get merged with the original existing thread.
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      • makshi
        makshi commented
        Editing a comment
        This is for Suncity Corporate Leisure, Iblur.
    • #4

      #4

      Re : Buying 15 year old apartment in Bellandur Bangalore

      I am not sure if there is any metro planned in Bellandur outer ring road. There were news but that would taken another 8-10 years if i am not wrong.

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