I wish to purchase a flat 1050sq ft in Brigade gardenia JP Nagar. The per sq ft rate is ~6500/sq.ft. Would Gardenia be a good investment ? Also, the owner although has furnished his deed etc. is unable to provide building docs like mother deed, etc. How do I fetch these docs ?
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  • As an investment, it is a very bad deal. All inclusive it will cost you ~73 lakhs. This is assuming you dont need to do any interiors. If you rent it out, you can expect rentals of ~ 2.5 lakhs a year. Remove property tax, maintenance etc the yield is 3%. If you are taking a loan, no way it will work out.

    As an end user, go ahead but dont have any expectations on returns from it. It should be a house to live in.

    Push the seller to go the Brigade and get the mother deed. I still dont understand how you guys are plonking 75 lakhs to the owner and then doing all the hard work of getting the documents yourself. I wish I got such customers.