We had an interesting debate in our apartment complex society meeting....there was a proposal for crack filling and repainting on 6 years old apartment....there was a bunch of people protesting against the proposal saying that, the apartment itself will have age of 30 years, in this way we need to paint it 3 times on the other hand if you wait for couple of more years then we can do only for 2 times.....

Same evening night, it triggered a good conversation over the dinner among friends....

(1) Ok, if apartment has 30 years age, what will we do after 30 years, this 30 years will pass very soon....so, at the end we dont own anything?, or we need to go for redevelopment (how hazzle it will be)?...who will take care of it, may be its too too early to think about it, but its good to have some idea.....

(2) In case of redevelopment, the low G+4 buildings will have much better value as one gets more of undivided share of land, and in high raise towers over 2 acres, one gets very minimal, and hence may not be much beneficial....incase of redevelopment, G+4 can become G+13 or so, that way the loss may be less here, but if it is G+21, its already hit the sky....

(3) That way Villa may have great value...

It all struck on the conversation.......

On the same line, i read this useful write up by none other than Ravikanth...interesting one....

Bangalore, 25 Year Old Apartment - Hold or Sell?


Any comments or arguments are highly welcome here.....
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  • That is correct. Higher UDS is something people need to look for. But i do not see anyone looking at even UDS now adays in this mad buying age.. When i asked for UDS from the sales guys, there were cases they were not even aware of it and had to check and confirm.. Villa is better, you own your piece of land and you are independent
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  • apartments are designed for 50-80 years. it is surprising to hear that age of building would be 25-30 years.
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  • Apartments age depends upon construction quality. good construction can last to lifetime 60-70 or more years. But also depend upon geological postion of building e.i. which sesmic zone building is there.
    Originally Posted by vinst1
    apartments are designed for 50-80 years. it is surprising to hear that age of building would be 25-30 years.
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  • (1) Ok, if apartment has 30 years age, what will we do after 30 years, this 30 years will pass very soon....so, at the end we dont own anything?, or we need to go for redevelopment (how hazzle it will be)?...who will take care of it, may be its too too early to think about it, but its good to have some idea.....

    Life of an apartment should be more than 30 years if the builder has done quality work, The outer plastering work and the roofing of the top floor needs to be repaired after 25-30 years.

    The redevelopment shall be taken care of society itself, lot of contractors are there who will do this kind of work. you will be paying only the cost of construction and not so many extras that we pay when we buy a new apartment.

    Every one should start paying some amount each month/year to a centralized fund that will be dedicated for redevelopment

    (2) In case of redevelopment, the low G+4 buildings will have much better value as one gets more of undivided share of land, and in high raise towers over 2 acres, one gets very minimal, and hence may not be much beneficial....incase of redevelopment, G+4 can become G+13 or so, that way the loss may be less here, but if it is G+21, its already hit the sky....

    The building plan now a days go on FAR and government may not allow you to convert the G+4 into G+21

    G+21 cannot be done if the approach road is only 30 or 40 feet wide.

    (3) That way Villa may have great value...

    Apartments are bought more since it costs low compared to Villa

    1500 sqft apartment may cost 50 lacs and Villa of 1500 sqft cost around 80-90 lacs in the same locality

    Maintenance of the building should be given preference, Painting should be done once in 3 or 4 years rather than waiting 6 years.

    Plumbing/sanitary lines should be checked every year to ensure no leakages are their in building, since it contributes more to the damage of building.

    Fill the cracks and other damages as soon as you notice instead of discussing whether to repair or not.
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  • life of aprtment

    Depends of the material quality used by the builder. In India we do suffer in the hands of the builders as like gender bias, the entire real estate sector in 110% biased in favour of the builders the clients are made to shell out huge money on some pretext or the other, they never deliver the promised plats, Villas, Bungalows, Flats within the time frame, when one seeks remedy under the Consumer protection Act, he comes to know of the great nexus between Judiciary; will some one please help me out of all this mess. I got booked with 95% down payment with Emaar MGF (The views) long back in 2006. They never even dug the soil for the block B, leave aside any civil work, the delivery was confirmed for Jan. 2010. Filed and won case against the builder in September 2011, but they have nexus, a great nexus, the members /President SCDRC favour then giving mush lesser date of interest, not caring for the law of equity. When Builder charges 18% on delayed payment why not refund carries the same rate? The builder appeal to gain time and are gladly given, so how come the Consumer forums are consumer friendly. The refund of one's own money is not allowed and is asked to furnish 100% bank guarantee for years , that would cost the buyer more than double the amount already paid. The builders are not even asked to furnish bank guarantee for the interest that would get accrued if the NCDRC does not take up the appeal another 4-5 years. Of late, Emaar MGF with a full page advertisement on 17th Jan. 2013 , the last page in "the Tribune" offer exclusive plots in Mohali hills, sec 105, 107, 109, if one can recall they did already oversell in the past some 1670 plots where as they only had land for 1000 Plots. This is a clear case of cheating and no govt. Body is stopping them from doing so. This could mean a few more innocent house/plot buyers/innocent overseas investors (NRI's) will be taken for a ride again and made to suffer for several years to come. Let the Badal Govt wake up on this issue and stop this malpractice immediately.
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  • Nice thread,am searching for it
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  • So does that mean there is no definite period of when an apartment complex has to be redeveloped? Because, if there is no such definite time frame fixed by government or any external body, then no owner will be ready to take up this process. This will be going on getting deferred until the maximum level of risk has been reached.

    p.s: Just to mentioned here, I have heard that for apartments in Singapore, there is some definite timeframe (99 years I think, I am not sure) after which an apartment should be demolished and redeveloped for sure, irrespective of the quality of it, however good or bad it is.
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  • kal aaj aur kal

    There is no fixed period for demolition in our country.Some countries prescribe 70-80 years now.Here the municipal authorities check and decide if it is dangerous and advise demolition. Re-development can be done which requires some investment after 60 years by us or our grand children.Do not worry because even mud houses survive more than 50 years. So the new ones built with modern technology will last longer. By the time of renovation new methods will have been invented.BE HAPPY IF YOU HAVE A GOOD FLAT TODAY.

    There is no point in worrying about tomorrow.Even if you have villa or independent house you or your children will face the same problem one day. by us or our grand children.Do not worry because even mud houses survive more than 50 years. So the new ones built with modern technology will last longer. By the time of renovation new methods will have been invented.BE HAPPY IF YOU HAVE A GOOD FLAT TODAY.

    There is no point in worrying about tomorrow.Even if you have villa or independent house you or your children will face the same problem one day.
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  • Here is the story of 30 years old building collapse....dont trust, if someone says, the apartment can survive 50 years, 100 years and all.....

    Mumbai: Death toll in building collapse rises to 60
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