Pre Launch Apartment

[arunthl]

Hi All, After a month of several thoughts I decided to invest in an apartment and its purely for our family stay. Does any know if there is any pre launch offer from a reputed builder or company in and around South Bangalore. Please provide a feedback if I have made the right decision. I am specifically looking at 2BHK with some 1000-1100 sq ft. Any help in this regard would be really appreciated.

Arun

[nagsbhat]

Dear Arun,

I know this is not quite relevant answer, but please consider this view point for buying in pre-launch.

From my experience, ALL (at least 90%) projects are at least 3 times delayed with cost over run of at least 40-50%. Bigger developers like Hiranandani are delayed by at least 5 years. And smaller ones have struggled to meet the cost for completion and are asking for more money.

With the current RE scenario you might get a decent bargain for ready to move in apartments and any day even if it is 25% extra I would suggest to consider.

Regards,
Nag

[arunthl]

Thanks. Appreciate the feedback. Will think about this. But ready to move, I would not know the quality of construction, the changes which we can not do etc. There are pros & cons. But thanks for your input.

[Chida_gs]

Hi Arun,

Regarding the Changes you want to do, If you Consider the Ready to Occupy means Exterior is complete only the Interiors needs to be done. As for I know some Builders will allow to change atleast for Flooring, Painting, Electricals, Plumbing with premium product by paying additional cost from your end, Outside construction will not be allowed for any modification as it is voilation to Approved plan and also neighbours will raise the issue.

Regarding the Quality of Construction - If you go for any Ready to Occupy Apartment atleast model house will be there and some of them are already in finishing stage and you check with some Civil enginer who will give inputs about the quality (Atleast) But you can't check everything as it is already finished and which you need to compromise, But if the builder is reputed, the quality is usually good. You will face this issue even in Prelaunch apartment to some extent.

Ready to Move has more advantages - You can move to Apartment quickly, there is no need to stay in Rented house along with paying EMI. Peace of mind of staying in your own house. You will know the Locality and its pros & cons.

PreLaunch Apartment - This is usually for the 2nd House as your investment, Payment will be in Instalments, But don't know when they will handover the House to you.
Take an example of DLF/Hirandani even after 5 years they are not yet handover one single apartment to Buyers. The Buyers are still paying their EMI's along with Rent for their existing house. If the Market value is increased, the Registration charges will be more, Builders even ask for additional Payment (Not fair).

Don't know where you stay in South Bangalore - In Bannergatta Road nearby there are lot of Apartment are ready to move, check out that. Even in Hosur Road also you can check out.

[arunthl]

Thanks a lot Chida_gs. I completely agree with you and thinking/discussion started on this now. I currently put up near to Kanakapura Road and nearby places I am looking at since my kid is going to school there (don't want to change the school). But your inputs are really helpful.

[meharnath]

Namaskaram arunthi.

If you are still looking for an apartment in kanakapura road, kindly look for project STHIRA AASTHI under this same portal. The last apartments are for sale which is complete 100% and ready for occupation.

thanks
meharnth.