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How is Covid19 playing with Residential Villa Plot sale around Bangalore region

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How is Covid19 playing with Residential Villa Plot sale around Bangalore region

Last updated: September 21 2020
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  • How is Covid19 playing with Residential Villa Plot sale around Bangalore region

    https://www.business-standard.com/article/companies/residential-unit-sales-at-10-yr-low-in-h1-office-vacancy-rate-at-4-yr-high-120071600643_1.html

    I am on a hunt for the past several months but suddently seeing a spike in the marketing by some of the developers, particularly got calls from The Sanctuary by Classic Featherlite * 2800/sqft, Campan Valley by Cornerstone * 2500/sqft, Dollar Colony by Reliaable * 4100/sqft and a few other small players from off Sarjapur Road at * 1699/sqft onwards.

    Few Questions:

    - Do you think this is the right time? With this WFH culture proping up, are people planning to move to the outskirts?

    - Are these prices resonable with the Corona slowdown backdrop?

    I strongly feel that we should wait and watch during these times of uncertainity rather trying to fish better deals in troubled waters. Since the builders themselves seem to be ******** without having a clear picture of the market will proceed further post this pandemic. All your opinions are welcome and considered valuable.
  • #2

    #2

    Re : How is Covid19 playing with Residential Villa Plot sale around Bangalore region

    Well my two cents is as follows..
    Prepare a decision tree
    Is this as a Investment
    If yes... avoid not a right time for RE as investment if no then proceed

    If you are planning to buy this for self use..
    Is the place convenient for me and my family
    Is there facilities close by like hospitals and schools
    Is this place accessible by public transport
    Is the place move in ready or almost ready
    Is the price reasonable and comparable to the surroundings
    Can I get this place without taking a huge liability

    If your answer is Yes to the questions only then you should bargain. To each their situation.. I would say avoid huge liabilities especially when there could be pay cuts or job losses..

    Yes there will always be people who will buy and have a tick in all the boxes.. Prices are not running away.. so understand that

    WFH was always possible in IT however we had all those process and ancient management mindset which prevented from it taking off. Indian IT work if u dig deeper in the marketing slides is nothing spectacular or Innovative.. we are basically code coolies and IT organizations efficiency is in their bench management.
    If you have WFH and your seat cost is saved.. and you can carry a better and cost effective bench

    How does this pan out is anybody's guess.. Covid is extremely contagious but probably not that virulent.. so once a SOP is arrived at on how to treat or manage it, guess things will slowly come back to normal. What is the new normal is anyone's guess.

    One positive in all this is .. Bandh's as a form of political protest is now completely irrelevant for Bangalore where the biggest employer is in the information technology.


    Originally posted by anthony.praveen2014 View Post
    https://www.business-standard.com/article/companies/residential-unit-sales-at-10-yr-low-in-h1-office-vacancy-rate-at-4-yr-high-120071600643_1.html

    I am on a hunt for the past several months but suddently seeing a spike in the marketing by some of the developers, particularly got calls from The Sanctuary by Classic Featherlite * 2800/sqft, Campan Valley by Cornerstone * 2500/sqft, Dollar Colony by Reliaable * 4100/sqft and a few other small players from off Sarjapur Road at * 1699/sqft onwards.

    Few Questions:

    - Do you think this is the right time? With this WFH culture proping up, are people planning to move to the outskirts?

    - Are these prices resonable with the Corona slowdown backdrop?

    I strongly feel that we should wait and watch during these times of uncertainity rather trying to fish better deals in troubled waters. Since the builders themselves seem to be ******** without having a clear picture of the market will proceed further post this pandemic. All your opinions are welcome and considered valuable.
    Last edited August 11 2020, 04:50 PM.

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    • #3

      #3

      Re : How is Covid19 playing with Residential Villa Plot sale around Bangalore region

      You are almost right. It seems a bit earlier than the right time. Markets are already looking to plan ahead and is gaining ground. Usually real estate markets freeze during slowdown and pick up from where it left off when markets wake up. This is unlike with other markets such as gold or equity. So if a plot was selling at say, 80 lakhs post currency demonetisation(2016) and before pandemic(2020) and then it might have slighly dropped to 77 or 73 lakhs and remain there until rebounding. This is only in case of land or vacant plots. With apartments it can vary more larger than land prices. Land prices are much more sturdier and rigid than built-up units including independent houses/villas due to depreciation and influence of inflation. So, if everything is found just right or even almost right it is not late to start investing to catch the right price before it becomes actually too late.

      You are also right that people are looking at sub-urban areas(outskirts - outside Bengaluru city or focussing on satellite townships like Devanahalli, Sarjapur, Nelamangala, Hoskote etc.) to plan their investments because of better infrastructure, relatively much cheaper rates, larger sprawling spaces and easy living. It also adds naturally to decongesting the metro cities which has been a horror story every day in and day out for people who used to travel short or long distances. However, due to increasing popularity and continuously increasing demand, even these sub-urban places in about 5 to 15 years - will get busier before you realise it !!.

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      • #4

        #4

        Re : How is Covid19 playing with Residential Villa Plot sale around Bangalore region

        Campan valley is quoting 4000 for regular plots and 4500 for premium (Corner, main road, East facing) plots. If they are coming down to 2500, that's a pretty good deal, I think they launched at those prices nearly 6 years ago.

        Varthur road is being broadened from a two lane road into a 4 lane road. However, Campan is still 5kms off the main road and I dont really see any development nearby.

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