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Need opinion on Resale property.

Last updated: November 16 2010
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  • Need opinion on Resale property.

    Hello ,
    Recently , I came across a resale property kothrud , 1 BHK 563 Sqft.

    The owner is charging 34L (negotiable). I am in bit confused & in two minds whether to go for it as I think its bit expensive & though he is ready to negotiate , how much I offer to him. ( my budget is around 27L).

    The building is 15yrs old & the flat & surrouding is very good.

    I need a expert opinion on -
    1. on price

    2. what is the process for loan .. I mean how can I approach if at all i am going for it. ( how much initially i shoud pay.. &...)

    3. What things I shall verify if the flat is resale.
    4. How much extra money I need to prepare for ( changing ownership .etc)

    --Robin.
  • #2

    #2

    Re : Need opinion on Resale property.

    Hi Robin,

    here are few tips before u go ahead.

    1) you will get loan as per bank valuation...and it will be inline with rates decided by corporation and I think u sud chk the survey no and chk with any advocate and I think it's 3800...not sure...and yeah thr will be depreciation as it's 15 yr old flat...u can roughly chk the total value....bank will give you 85% (LIC HF) and 75% (SBI....) loan of bank valuation or agrement cost whichever is less...so if u finalize the deal arnd 28 lacs (5k rate) then u sud be ready with arnd 8 lacs extra (amt other than loan part + stmp + regi + other charges).

    2) resale flat - bank will guide abt the procedure but here are few steps - title report by advoate (will cost u arnd 2k-2.5k), advocate's registration charges (5k to 7k). if property is already on loan then u will need list of document with HF and NOC too.

    wud advice you to consult HF abt ur requirement and disucss ur loan aval and all dat...in same budget you will get 1 bhk in main Baner road...and new construction and loan criteria will also fulfilled it...
    Last edited October 28 2010, 12:38 PM.

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    • #3

      #3

      Re : Need opinion on Resale property.

      Originally posted by robind View Post
      Hello ,
      Recently , I came across a resale property kothrud , 1 BHK 563 Sqft.

      The owner is charging 34L (negotiable). I am in bit confused & in two minds whether to go for it as I think its bit expensive & though he is ready to negotiate , how much I offer to him. ( my budget is around 27L).

      The building is 15yrs old & the flat & surrouding is very good.

      I need a expert opinion on -
      1. on price

      2. what is the process for loan .. I mean how can I approach if at all i am going for it. ( how much initially i shoud pay.. &...)

      3. What things I shall verify if the flat is resale.
      4. How much extra money I need to prepare for ( changing ownership .etc)

      --Robin.
      Surprised to see this rate in Kothrud? which area is this??
      U can get 1 BHK in 27 lakhs in mnay area of Kothrud..

      Comment

      • #4

        #4

        Re : Need opinion on Resale property.

        Thanks for guidance.


        The area is near Din Dayal Hospital. I too wondering , the owner is chariging almost 6k rate.

        - Once the deal is aggreed how much time the bank ( SBI or HDFC) to process a loan ( my documents are proper )

        - what is the rate for resale in kothrud. ?

        Comment

        • #5

          #5

          Re : Need opinion on Resale property.

          Originally posted by robind View Post
          Thanks for guidance.


          The area is near Din Dayal Hospital. I too wondering , the owner is chariging almost 6k rate.

          - Once the deal is aggreed how much time the bank ( SBI or HDFC) to process a loan ( my documents are proper )

          - what is the rate for resale in kothrud. ?
          I know DinDayal hospital On FC road...where exactly this one located?

          In Kothrud resale starting at 20lakhs depending on area...

          Comment

          • #6

            #6

            Re : Need opinion on Resale property.

            Oh.. I am sorry its Dinanath Mangeshkar & not din dayal...

            Comment

            • #7

              #7

              Re : Need opinion on Resale property.

              Oh..then Dinanath Mangeshkar Hosp is in Erandwane which is closer to main city area. But still you can negotiate.

              Comment

              • #8

                #8

                Re : Need opinion on Resale property.

                Originally posted by robind View Post
                Oh.. I am sorry its Dinanath Mangeshkar & not din dayal...
                That is really good area...not much aware about rates over their...

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                • #9

                  #9

                  Re : Need opinion on Resale property.

                  15 yr old building .. near Deenaanaath mangeshkar ?
                  Hiimali society ? Or more towards Navsahyadri ? Or Laxmi Narayan Nagar ?

                  Himali has 3-4 buildings with no balconies and like crampy chawls built for the illegal residents of that land.

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                  • #10

                    #10

                    Re : Need opinion on Resale property.

                    Asking rate is too high for Kothrud that too for 15 yr old flat. Forget rates, I would not even recommend buying 15 yr old flat at first place irrespective of location.
                    If you are happy, you are successful.

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