Hi Everyone,

I am looking to purchase a builder floor in South Delhi. Anyone care to share their experiences of buying one, the appreciation and if someone is living what are the issues we can encounter?

My thoughts: I have been trying to make up my mind over the last 10-15 months. The brokers we are in touch with keep showing us a few apartments, but the rates really haven't escalated in this period. Even an apartment that was 3.0 crore in 2011 mid, is currently available for 3.25 crore. Which means there has been no appreciation? One apartment specifically in East of Kailash (220 sq yards) was for 3.75 crores under construction in March 2011, and is now available for 4.00 crores ready for possession. Really good specifications.

With so many flats on sale, this looks more like a bubble compared to Gurgaon or Noida? What's going on?

Would these appreciate any further commensurate with the land prices? It doesn't seem like that? Anyone have historical pricing available?

Our basic thinking is, a 200-250 square yard plot costs 10-14 crores (CR Park to GK2) and construction at 3000 pe square feet means around 3 crore of construction cost. Add builders 25% profit. and the cost of apartments is around 3.50-4 crores. Is our assessment true?


Moderator's Note - There is another thread running, which has a similar topic . Do take a look - https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/delhi-real-estate/34251-builder-flat-in-south-delhi?t=36115
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  • The prices you mention are in line with the transactions that I am aware of.

    I see stagnation in prices of RTM builder floors over the last one year. However, ones under construction are still seeing appreciation. This has nothing to do with inflation or demand-supply. It has got to do with the specifications of the floor and the location.

    Earlier there were only a few flats in an entire colony, now upto 30-40% of the villas are converted to floors and therefore the ones better location, and with better specs are commanding premiums.

    Older floors start to show seepage, other construction related issues and therefore don't appreciate much.

    The large difference maybe between stilt and non-stilt floors.
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  • The prices you mentioned are the going rate that i am aware of . Except the costruction cost which you have taken as 3-4 CR for a 200Sq yd plot . It must have ultra High Specifications according to your estimate . The rate for a good construction , wooden work and some luxury bits here and there wont cost more than 2500 rs Sq ft .If you want Jacuzzi in ever Room , Wooden flooring in kitchen too , Kohler Faucets , then the price will shoot up .

    What is your range ? . It is for end use Right ?.

    Try looking IN CR park . You can get a bigger sized floor for your range .
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  • Try Safdarjang and GK

    Try SE and GK. These are also cheap. Also note that basements are mch smaller these days
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  • Hi,
    I've a budget of around 50-55 lacs. Can i get anything around 600 sq ft anywhere? My preference would be somewhere near(around 5 kms) Malviya nagar, Shivalik area. Pls help.
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  • Originally Posted by delhiite
    Hi,
    I've a budget of around 50-55 lacs. Can i get anything around 600 sq ft anywhere? My preference would be somewhere near(around 5 kms) Malviya nagar, Shivalik area. Pls help.


    This translates to Rs.8500-9000/sq feet.

    Almost impossible unless you are ready to buy a POA deal in Chattarpur/Mehrauli/Katwaria Sarai/Freedom Fighter/Neb Sarai etc

    You need a minimum budget of roughly 85-90L+ to get an old non lift 3rd floor construction in a poor location of malviya nagar - 100 sq yards.

    Or you can get a ~450 sq ft janta flat in Saket or DDA LIG in Sheikh Sarai
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  • Originally Posted by iMohak
    This translates to Rs.8500-9000/sq feet.

    Almost impossible unless you are ready to buy a POA deal in Chattarpur/Mehrauli/Katwaria Sarai/Freedom Fighter/Neb Sarai etc

    You need a minimum budget of roughly 85-90L+ to get an old non lift 3rd floor construction in a poor location of malviya nagar - 100 sq yards.

    Or you can get a ~450 sq ft janta flat in Saket or DDA LIG in Sheikh Sarai


    Thanks iMohak but recently i came to know of a deal in vasant kunj flat of same size 3rd floor for 62 lacs. Hence, was curious and searching for options. I can increase the budget by an odd 5-10 lacs if i really find something worth.
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  • Originally Posted by delhiite
    Thanks iMohak but recently i came to know of a deal in vasant kunj flat of same size 3rd floor for 62 lacs. Hence, was curious and searching for options. I can increase the budget by an odd 5-10 lacs if i really find something worth.


    I think you are talking about the Vasant Kunj LIG flats (came under CWG quota I think) - yes, that is also an option - those are newer, but there is a slight risk depending on the deal. Be careful as DDA has strict rules about resale for the dda 2010 scheme.
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  • Originally Posted by iMohak
    I think you are talking about the Vasant Kunj LIG flats (came under CWG quota I think) - yes, that is also an option - those are newer, but there is a slight risk depending on the deal. Be careful as DDA has strict rules about resale for the dda 2010 scheme.


    Can u pls share what are the rules that need to be taken care of, as i'm unaware of the same? Should i go forward with them?
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  • Originally Posted by mpaspc
    The prices you mentioned are the going rate that i am aware of . Except the costruction cost which you have taken as 3-4 CR for a 200Sq yd plot . It must have ultra High Specifications according to your estimate . The rate for a good construction , wooden work and some luxury bits here and there wont cost more than 2500 rs Sq ft .If you want Jacuzzi in ever Room , Wooden flooring in kitchen too , Kohler Faucets , then the price will shoot up .

    What is your range ? . It is for end use Right ?.

    Try looking IN CR park . You can get a bigger sized floor for your range .


    Originally Posted by worried1
    Try SE and GK. These are also cheap. Also note that basements are mch smaller these days


    All builder flats currently under construction come with kohler fittings. however, jacuzzi in 1300sq ft is not a good idea. 3 bathrooms would vary within 6'/7' * 8'/9' each = almost 200 sq ft already!

    Safdarjung is quite expensive. Within GK, GK1 (most blocks) is cheaper than GK2. If you are looking for value, a 311 sq yard FF/SF in Kailash colony could be had in 4cr which is terrific value.

    CR Park is actually a good option, and so is Nehru Enclave and Lajpat Nagar III if you are on a budget.
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  • Originally Posted by delhiite
    Hi,
    I've a budget of around 50-55 lacs. Can i get anything around 600 sq ft anywhere? My preference would be somewhere near(around 5 kms) Malviya nagar, Shivalik area. Pls help.



    Flats built in the outscirts of Mehrauli will suit you best. I have seen them they have good surroundings and is near malviya nagar as well.
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  • Hi,
    With a budget of around Rs 1.6 cr, am looking for an apartment in South Delhi. Though I would prefer it to be somewhere near to the metro line, but one never knows if you find the treasure some where else. Though I checked quite a few apartments in Saket (Builder Floors), DDA Duplex Sheikh Sarai, some apartment of 125 yd on a 250 yd in GK, am not been able to the concentrate on the locality. For me Saket is as good as GK 2, (I said for me ). Would appreciate if the seniors can please guide. Specially about all these builder floors on 3rd, and the one newly built one with more FAR, some of them almost covering 90% of the plot. Would also prefer if any one knows any apartment up for sale. Builder vs DDA, and locality vs property, which one should I go for. I guess its okie to be so confused for the first timer
    BEST
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  • frankly am not sure u wud get anything for 1.6 in either saket or gk2 ( min size is 250 sq yard in gk2). newly built in either saket or gk2 is not less than 4. maybe in saket u can get around 3.5
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  • Originally Posted by smiley74
    frankly am not sure u wud get anything for 1.6 in either saket or gk2 ( min size is 250 sq yard in gk2). newly built in either saket or gk2 is not less than 4. maybe in saket u can get around 3.5


    Dont take me other wise, but I saw one flat in J block Saket.125 yrds, around my budget. Similarly I saw one in GK2, a floor with 2 flat, I got to know its not authorized, but I am sure there would be many buyers who can live with it. The point which I am trying to make here after a ground work of 2 week is, actually there are quite a few apartments available. Yesterday I saw a flat in Masjid Moth DDA again around my budget. I think the mentality of people that nothing is available is just a propaganda of builders/broker to increase the prices.
    Well, am trying to buy a property for the first time in Delhi, and am trying to do as much research offline and online, for sure I can say to all the prospective buyers, If anyone tells you, that there is nothing available in your budget, all you should do is pick up classfied, goto 99acres else best is come to this forums and reasearch. Dont feel disheartned, as I saw quite a few people tried with me.
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  • hi

    Originally Posted by justdoitguy
    Hi,
    With a budget of around Rs 1.6 cr, am looking for an apartment in South Delhi. Though I would prefer it to be somewhere near to the metro line, but one never knows if you find the treasure some where else. Though I checked quite a few apartments in Saket (Builder Floors), DDA Duplex Sheikh Sarai, some apartment of 125 yd on a 250 yd in GK, am not been able to the concentrate on the locality. For me Saket is as good as GK 2, (I said for me ). Would appreciate if the seniors can please guide. Specially about all these builder floors on 3rd, and the one newly built one with more FAR, some of them almost covering 90% of the plot. Would also prefer if any one knows any apartment up for sale. Builder vs DDA, and locality vs property, which one should I go for. I guess its okie to be so confused for the first timer
    BEST


    I saw that you are looking to buy an apartment in South Delhi. Let me know if you are interested in buying a 2 Bedroom flat in Lajpat Nagar 2 and just for your information I am an end user not a broker.
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  • Piyush, Which floor, what carpet area, what year of construction and the likely price?
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