hi there ,

I am planning to buy a property in bangalore . i visited many places in and around bangalore and finally took a visit to this NRI layout in Ramamurthy nagar with my family and friends and had a look at this particular constructions Amulya park who offered me 33 lakhs for a 2 bedroom 1350 square feet apartment. they seemed to be fine in terms of Ambience and facilities and the area NRI layout to me seemed to be promising in terms of development in coming years .

I was wondering if someone could advise me on a few couple of questions which i have.

1. Am i being offered the right price for the flat and the area or is this the ideal going rate for flats at the moment ( inculuding facilities and ambience)?
2.How are the property prices in ramamurthy nagar (house/flats)?
3.Is this a promising area to invest?
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  • Originally Posted by vinpree
    hi there ,

    I am planning to buy a property in bangalore . i visited many places in and around bangalore and finally took a visit to this NRI layout in Ramamurthy nagar with my family and friends and had a look at this particular constructions Amulya park who offered me 33 lakhs for a 2 bedroom 1350 square feet apartment. they seemed to be fine in terms of Ambience and facilities and the area NRI layout to me seemed to be promising in terms of development in coming years .

    I was wondering if someone could advise me on a few couple of questions which i have.

    1. Am i being offered the right price for the flat and the area or is this the ideal going rate for flats at the moment ( inculuding facilities and ambience)?
    2.How are the property prices in ramamurthy nagar (house/flats)?
    3.Is this a promising area to invest?


    i will answer on members behalf:
    natraaaaj007: prices are falling they will quote 3 laks next month

    natraj007: land appreciates flats depreciate

    wiseman: property prices will crash by 80%

    abk: if the location is in estb locality and prices corrected by 15%then buy

    Ks___--: buy if the location and builder are good check for flooding.

    chataara: RE is going to crash.

    REguru: black money will prevent a crash.

    i will give others reply later
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  • Just a thought ....

    Land price around Rammurthynagar 1000*1200 = 12L+1L = 13L
    Construction Cost 8L/800SQFT = 12L for 1200SQFT.
    Interior Cost = 5L.

    Total cost = 13+12+5 = 30L indepemdent house. Is not it is good. I believe that you are still paying high.
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  • Originally Posted by arin_12
    Just a thought ....

    Land price around Rammurthynagar 1000*1200 = 12L+1L = 13L
    Construction Cost 8L/800SQFT = 12L for 1200SQFT.
    Interior Cost = 5L.

    Total cost = 13+12+5 = 30L indepemdent house. Is not it is good. I believe that you are still paying high.


    Dear friend,

    If the difference is only 10%, does this matter much as one will have to run around for approvals to do the construction himself with so much of coordination, is it worth it? If the difference is substantial, say over 20%, then it is worth it. Of course, when the house is under construction by the promoter, one will have to very frequently visit th site to see for himself the progeess and the materials being used as also the construction, not leaving every thing to the builder.

    ks2071746:)
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  • Remember that you can build a second floor if you are taking this small pain....

    By the way GOVT awake up after a long and thought to give us a bit better life... They are improving the roads in this area...
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  • Originally Posted by madrasi
    i will answer on members behalf:
    natraaaaj007: prices are falling they will quote 3 laks next month

    natraj007: land appreciates flats depreciate

    wiseman: property prices will crash by 80%

    abk: if the location is in estb locality and prices corrected by 15%then buy

    Ks___--: buy if the location and builder are good check for flooding.

    chataara: RE is going to crash.

    REguru: black money will prevent a crash.

    i will give others reply later

    Hmm looks like u r paid per post! LOL!
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  • Hi,

    Even I am checking out the property in Amulya Park, NRI Layout. Were you able to finalize it and how much did it cost you (including registration)?

    Your response will help me take a call. Request you to reply soon.

    Thanks,
    Sudarshan
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  • Land price in RM nagar

    I dont think you can buy a plot anywhere near Ramamurthy nagar for Rs.1000/-. I have searched in this area and the price range I got is between Rs.1500 to Rs.1700/-. In layouts like akshaya nagar layout in TC palya main road, rates will shoot up in next 6 months because now BBMP is widening the road and getting it tarred.

    After my search I could reach on the below calculations;

    30*40 plot = 21L
    building 12 sq = 10L-12L
    Bore well - 1L
    Interior = 3L

    So an idependant house would be around 35L + around 2L for registration


    Originally Posted by arin_12
    Just a thought ....

    Land price around Rammurthynagar 1000*1200 = 12L+1L = 13L
    Construction Cost 8L/800SQFT = 12L for 1200SQFT.
    Interior Cost = 5L.

    Total cost = 13+12+5 = 30L indepemdent house. Is not it is good. I believe that you are still paying high.
    CommentQuote
  • Land prices in RM nagar

    Sanos, You sound like a real estate agent.The asking price in Ramamurthy nagar is not more than Rs.1500/sft. But what counts is the price at which plots are getting registered. Even i have done lots of research in and aournd ramamurthy nagar. All sites are revenue site without proper documents. Even if you find documents they are bogus.Some real estate agents are misleading people and saying, once BBMP election is over, property prices will go up. Even if BBMP is laying good roads, what finally matters is whether the land has clear title or not. After thorough research i have given up the idea of buying land in Ramamurthy nagar and any nearby localities. Moreover no banks are giving loans to any land purchased in and around Ramamurthy nagar. That tell enough about the un approved layouts in RM nagar.
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  • This are some typical tricks... They them self dont know the exact what plan BBMP will decide. These agents talk in such a way that the whole BBMP is their ancestor office. BBMP dont have money to conduct election itself. First BBMP should develop this underdeveloped Bangalore city. Dont listen to this agents at all. Road widening, where is the proper road ?
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  • Chandru,

    I am not a real estate agent but an IT professional who has been trying for last 1.5 years to buy a property in Bangalore. Since I was looking to manage with the available resources (not bank loan), my budget was only around 30L for an independant house. Finally I have purchased a house 2 weeks ago in the outskirts of HSR layout. Before that I have researched a lot in Ramamurthy Nagar, Kodichikkanahalli, B'ghatta road etc.

    All these areas (including the HSR suburbs where I got), are taken over by BBMP in 2006 and as you said khatas are not available for many properties. I checked with a leading advocate and he confirmed that delay in issuing the khata is not because of any problem with the property, but BBMP's delay in collecting the betterment charges.

    Now, I am not sure about the BBMP elections or betterment charges, but I confirmed a few things with the advocates and BBMP.

    BBMP is issuing form-B Khata which is available for properties that are not provided with a khata in the delay period. If the documents are clear, then BBMP will issue this and this is a must for if you are selling the property. If the property has previous khata issued by the panchayats /CMC, you can get it checked with a BBMP officer. He will be able to tell you if this is a bogus or real document. Finally, you should check if the property is eligible for a bank loan.

    As you said, many have bogus documents, but not all of them. Infact I was about to finalise a property in Akshaya nagar which had clear docs and Canara bank sanctioned loan also (I just wanter to check the loan eligibility). But the seller had withdrawn in the last moment thinking that he can get a better deal once the road is done.

    In short, there are many properties with good and bad titles in these areas. Its upto you to decide to take a wise decision after checking the papers. Never fall prey to any real estate guys. Personal verification is the best according to me!
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  • Originally Posted by sanos
    Chandru,

    I am not a real estate agent but an IT professional who has been trying for last 1.5 years to buy a property in Bangalore. Since I was looking to manage with the available resources (not bank loan), my budget was only around 30L for an independant house. Finally I have purchased a house 2 weeks ago in the outskirts of HSR layout. Before that I have researched a lot in Ramamurthy Nagar, Kodichikkanahalli, B'ghatta road etc.

    All these areas (including the HSR suburbs where I got), are taken over by BBMP in 2006 and as you said khatas are not available for many properties. I checked with a leading advocate and he confirmed that delay in issuing the khata is not because of any problem with the property, but BBMP's delay in collecting the betterment charges.

    Now, I am not sure about the BBMP elections or betterment charges, but I confirmed a few things with the advocates and BBMP.

    BBMP is issuing form-B Khata which is available for properties that are not provided with a khata in the delay period. If the documents are clear, then BBMP will issue this and this is a must for if you are selling the property. If the property has previous khata issued by the panchayats /CMC, you can get it checked with a BBMP officer. He will be able to tell you if this is a bogus or real document. Finally, you should check if the property is eligible for a bank loan.

    As you said, many have bogus documents, but not all of them. Infact I was about to finalise a property in Akshaya nagar which had clear docs and Canara bank sanctioned loan also (I just wanter to check the loan eligibility). But the seller had withdrawn in the last moment thinking that he can get a better deal once the road is done.

    In short, there are many properties with good and bad titles in these areas. Its upto you to decide to take a wise decision after checking the papers. Never fall prey to any real estate guys. Personal verification is the best according to me!


    Where do these BBMP officers sit? I am looking at North Bangalore (for eg: Rajanakunte). Any url/website about getting the papers checked for good titles?
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  • www.bmponline.org/

    Try this site.
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  • Hi Chandru .. Punjab national Bank is approving those layout .. Please advise me why did you so against NRI layout ? Amt thinking to buy one there
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  • Hi Karthi,

    I am not against NRI or any other layout; also I am not saying all the properties in and around NRI layout are not good.

    What i found is, the NRI layout was sold for very cheap price long back and people who have purchased never gone for Bank loan as it was damn cheap. Moreover its an unapproved layout as of now and after paying betterment charges it may be approved by BBMP also (god knows when).
    But the main problem is those who are selling the plots doesn't have all the documents and they are not even ready to get a B-Khatha. I also get the documents checked by an advocate and he never recommended me to buy the plots at NRI layout and areas around Ramamurthy nagar layout.

    Sure you can buy plots if you find good/genuine property. You seldom get such properties.

    To get the papers checked you need to pay min. 10k and if you find the property not suitable you don't get the money back!

    Many sellers are making good bucks out of it. He will try to sell the land for very attractive price to many people and get the token amount of 10 k !! When people find the property is not good he will never return the money back. This is also a way of making money.

    Ramamurthy nagar, Hennur, Kalkere are some of the areas where these things are happening quite often.
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  • Guys,

    The rates in NRI colony for a sq feet is around Rs.1200 and if anyone quotes more than that then just don't go ahead.
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