Hi folks, I am negotiating for a site in Prestige GlenMorgan, Whitefield, Bangalore. Can anybody advise me what could be the best price keeping the current market trend?
Since this is a BBMP site, what documents I should be looking for the authenticity of the title?
your response is well appreciated.
Thanks
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  • Best I can advise is to stay away from real estate right now... :)
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  • Here is what I heard from one of the agents who showed me a lovely studio cottage on a 4800 sqft plot in GlenMorgan:

    "The last deal in Dec 09 went for Rs 1400 per sqft."

    Now if you visit this place, the proximity to ITPL will leave you shocked. Merely 1.5 Kms away, Forum Value mall is mere 3 kms. But this entire area is literally a dump. There are barely decent motorable roads to the layout. No street lights. No habitation. Stray dogs and occasional construction labourers on bicycles are the only company on the roads. Inside the layout is home to like 3 families and 2 vacant humongous villas. Prestige has rid their hands off this property and failed to construct even proper tarred roads. The club house lies barren and unmaintained. You can still see the hall marks of a piece of amazing residential layout lying waste here! But.. and thats a big but.. if the BDA does manage and maintain this area, the place will see a correction to prevalent rates of around 2500-3000 Rs per sqft. And who knows more if the no of residents in the layout increase and the society becomes better maintained.

    From what I have seen, it will be a security issue for you, your children and elders to even attempt to get out of the complex without a car. No auto rickshaw will drop here for sure or just might by charging double!

    It has a BBMP approval and the plot I visited was already registered. So no legal issues I suppose. But the lack of proper accessibility and low enthusiasm from the owners to build and also low response from the buyers have left this purchase in a grey area. But owning a 4800 sqft plot merely minutes ride away from ITPL is a big draw. I might go for it I guess
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  • One reason for lack of development - A lot of investors bought sites here, similar to other Prestige properties where investors/brokers buy maximum no. of sites/apartments and then sell them at a higher price. Prestige/Chaithanya sold off the sites a long time back, once in a while re-sales are happening. Consider this layout only if you are looking at as a investment or would like to build after couple of years, by that time some more houses will come up in the layout. This layout is very close to peripheral ring road also, so you can expect the prices to go up soon.

    The association is working with Prestige and BBMP for the development of roads. Hope Prestige will take care of this and other neglected properties (almost all plotted developments of prestige were/are in bad state) as they are planning to come up with an IPO soon.
    Venkat
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  • Can you give me some lead om Prestige Glen Morgan

    Hello, can anyone give me some lead on prestige glen morgan. Im looking to buy some plot in Geln Morgan.

    Thanks,
    Amit
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  • Prestige GlenMorgan address plz

    Can you please let me know the address of this site.. not able to find on the net
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  • Originally Posted by rainbow_india
    Can you please let me know the address of this site.. not able to find on the net


    Yes even i tried to find the address..but there was no proper address on the web......I am definitely interested in the property if someone gives me a best deal (may be less than 2000 PSF :D)
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  • Worst location

    Hi Guys,

    Last month I went and saw Prestige Glenmorgan layout. It is in a very bad location. It is right next to Ambedkar Nagar and it is a slum where all lower class people live. There are lot of other layouts in whitefield area for investment. But this layout will take decades to improve. If you have black money then you can go and invest. if you are taking loan then its a bad investment in my opinion. Again this is my personal opinion. I did good 8 months of research in and around whitefield. If you need any information I can happily provide.

    Thanks
    javaguy
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  • Deepak,

    Don't decide your property unless you go and see it personally. When I went last month the owner was quoting 1600/- psft. Even that was negotiable. I wouldn't buy if they give it for 900/- psft also because it is next to ambedkar nagar which is a slum.

    Cheers
    javaguy
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  • Originally Posted by javaguy_pk
    Deepak,

    Don't decide your property unless you go and see it personally. When I went last month the owner was quoting 1600/- psft. Even that was negotiable. I wouldn't buy if they give it for 900/- psft also because it is next to ambedkar nagar which is a slum.

    Cheers
    javaguy


    Oh. Thanks Javaguy for all the information and alerting me!!! Problem is i am getting frustrated since almost 2 years i am hunting to buy a site in bangalore and somehow (either high price or improper papers) its not getting materialized. The site with low price and good papers areas/localities are all not developed and i cant even 1% forecast development for next 5 years. I can shell out not more than 2300 per SFT and i am strictly looking for 30 X 50 site (Neither more nor less). after purchasing the site i am ready to wait for max 2-3 years for constructing a house for self.
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  • Hi Deepak,

    I can understand your frustration. I am also in the same situation. I have 35L cash and 58 L loan approval letter in my hand since 2 years. Nothing is getting materialized. Saw many sites and each of which have different problems. I invested more than 50K in seeing sites and getting legal opinion so far.

    Finally I was able to find a good plot but after going through and i was about to pay money, owner dropped off from selling thinking that he will get more money. He wasted my 1 month time. Idiot. If you are looking in and around whitefield then we can search collectively. What do you say?

    Cheers
    javaguy
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  • Your condition is worst than me :D Anyways I dont mind we can collectively search...My search is not just restricted to whitefield but any where in bangalore (except near Devanhalli Airport....) So Lets join hand for our own cause and help each other...thanks

    Originally Posted by javaguy_pk
    Hi Deepak,

    I can understand your frustration. I am also in the same situation. I have 35L cash and 58 L loan approval letter in my hand since 2 years. Nothing is getting materialized. Saw many sites and each of which have different problems. I invested more than 50K in seeing sites and getting legal opinion so far.

    Finally I was able to find a good plot but after going through and i was about to pay money, owner dropped off from selling thinking that he will get more money. He wasted my 1 month time. Idiot. If you are looking in and around whitefield then we can search collectively. What do you say?

    Cheers
    javaguy
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  • Hi Deepak,

    Yes its worse. I can't tell you how much effort and time I invested in searching apart from money.

    Cheers
    javaguy
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  • Deepak and Javaguy,
    have u tried looking at plots in Raja Gardenia near to Uttarahalli?
    they have 2400 sqft. plots priced at 1700 per sqft and rates are negotiable. I am looking for 1200 sqft one below 1500 per sqft, so I dropped the idea of moving forward..
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  • Hello Everyone on this thread,

    I see some of you were looking for a property or did some research about Glen Morgan. Yes, I too really struggled to visit this place last time -- auto drivers or even the people in the area did not know about this layout. The approach road is pretty bad too, goes through a slum and unpaved dirt roads. I agree with most of what megabytes and others said on this thread except I am not sure if it will appreciate as much.

    The proximity makes this property a little appealing to me too, so I am thinking about betting on it. Did anybody here bought a plot in this layout? What was the best price you paid or you would pay in this layout? We may have a seller, but I need to know where to start and how much to offer. We are looking to invest for now, so definitely looking for some returns on it.

    I see some honest feedback from folks who have done quite some research in this area, so I will appreciate if you could help me out here. I would love to hear from you what would be a fair price to pay per sq ft.


    Thank you all, you have been a good contributors to this forum.


    Thanks,
    -TN

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  • Any help here, guys? I even sent PM to some of the folks on this thread. Appreciate any info you can provide.


    Originally Posted by ptnaidu
    Hello Everyone on this thread,

    I see some of you were looking for a property or did some research about Glen Morgan. Yes, I too really struggled to visit this place last time -- auto drivers or even the people in the area did not know about this layout. The approach road is pretty bad too, goes through a slum and unpaved dirt roads. I agree with most of what megabytes and others said on this thread except I am not sure if it will appreciate as much.

    The proximity makes this property a little appealing to me too, so I am thinking about betting on it. Did anybody here bought a plot in this layout? What was the best price you paid or you would pay in this layout? We may have a seller, but I need to know where to start and how much to offer. We are looking to invest for now, so definitely looking for some returns on it.

    I see some honest feedback from folks who have done quite some research in this area, so I will appreciate if you could help me out here. I would love to hear from you what would be a fair price to pay per sq ft.

    Thank you all, you have been a good contributors to this forum.


    Thanks,
    -TN

    CommentQuote