Hi all,
I have been looking for an aparment to buy for more than a year now with no luck. After all the issues that I have heard/seen with delayed hand over by the developers, issues rising after possession, I feel it might be better to go for an under 5 years resale apartment. Can anyone share thoughts about the pros and cons of this?

Also, if anyone has any property to suggest, please do so. I am open to looking at apartments in and around Sarjapur Road and also in North Bangalore (Hebbal, Hennur etc). I know its quite a range but the priority right now is just a good property.:) I am also open for new properties if it is ready to move in.

My budget is 60 to 80 lakhs and I am hoping for a spacious 3 BHK. Is it possible to get in this range in one of these areas?

Thanks in advance!
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  • You can try RTM HM Symphony Off Sarjapur Road, before Wipro corporate office, opp Kaikondavahalli 1496 sft to 1717 sft G+14 Floors Rs 75L Upwards. Good Brand Good location. http://www.hmconstructions.com/hm_symphony.html
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  • There is a 3BHK resale in green glenn layout, bellandur. If interested, pm me.
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  • Pros: 1) You get what you see (unlike in under construction)
    2) You may get a better deal than going with builder directly.
    3) A brand new flat usually has some issues with society formation, issues with builders etc. With resale flat of 5 yrs usually these issues will be sorted out.

    Cons: Only major Con I can think of is that a resale of a resale flat will be little difficult in areas like Bangalore. (places like Mumbai it doesnt matter).
    But if you are looking for yourself and never gonna sell it, then resale flat is good.



    Originally Posted by Priyanoop
    Hi all,
    I have been looking for an aparment to buy for more than a year now with no luck. After all the issues that I have heard/seen with delayed hand over by the developers, issues rising after possession, I feel it might be better to go for an under 5 years resale apartment. Can anyone share thoughts about the pros and cons of this?

    Also, if anyone has any property to suggest, please do so. I am open to looking at apartments in and around Sarjapur Road and also in North Bangalore (Hebbal, Hennur etc). I know its quite a range but the priority right now is just a good property.:) I am also open for new properties if it is ready to move in.

    My budget is 60 to 80 lakhs and I am hoping for a spacious 3 BHK. Is it possible to get in this range in one of these areas?

    Thanks in advance!
    CommentQuote
  • pro :
    1. you will get first hand experiences of staying/conditions of the building, society and other factors
    2. you can start living in the flat from day one

    cons :
    1. you cannot register the plot for lower value
    2. you might not get loan easily if the property is also under bank loan and the owner doesnt agree to bear those loan transfer costs. (I had few experiences where seller were adamant that we have to takeover the loan and not apply for fresh one)
    3. you wont feel good paying 30-40% more for a <5 yr old flat.. basically, you will feel that seller had a free house for few years and is also making a good profit! (A 15 lakh flat which was 6 yrs old was put on sale for 24 lakhs and the owner was stating that his rates were cheap considering the new ones in the vicinity. But, the bank valuation team put the value of flat at same price considering the depreciation of building and appreciation of undivided land share. )
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  • Thanks for the replies. It was helpful. I have settled for a resale apartment but not confirmed yet as we are yet to check the papers. I will post the final deal if it comes through for anyone who is following this thread.
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