I am one of you looking to buy a site in affordable price in good locations .We (with my close friends)have been trying group purchase/ group construction for a long time.Me being in construction field, group construction never happened not in just my case in many of my known cases.
Here are my reasons for failure
1.A good real estate broker is must to get a good deal
2.A good real estate developer is must to form a layout
3.A good lawyer is must to get the paper works done
4.Investors are important to finish the project ,only the money we pool in is not at all sufficient to finish the project since 80 to 85% of our funds are loan based .You wont get the loan unless the project is in some good shape .To bring it to good shape you need at least 40% of project cost money.
After all these experiences we are now looking at alternate small time investor options
We looked at a site in Hoskote-Chintamani Rd this is a 6 way lane state high way with greenery all around ,3 industrial zones in the surroundings,10 km away from Bangalores large scale apartment developtments by brigade ,shobha ,prestige and others
I never consider the distance from rly station,airport as benchmarks for projects since i don't go to these places every day /every week/ every month .All i need is how far i am from developing area , we can buy in affordable cost only in those places where the development will touch us in matter of 3-4 years.
Site location -
( 13.148463,77.867172 )
The proposed layout is right on the highway where the arrow indicates.
Status of project
1.Nothing much happened as of now
no MOU entered, no JDU entered,discussion happened with land lord,land lord is ready for joint development 2.We have a well experienced real estate freelance developer who is a good friend of mine who will be leading us through this
3.We need people interested to buy in this area and ready to invest
4.People who are ready to invest at least 20 to 25 lac in cash are needed
We will discuss all further details in the same thread ,no private email discussions required .Any one interested in this come forward.No agents business here.
After looking at 100's of sites in various locations i liked it a lot ,i travel in this route very frequently while i go to my home town.I have been observing the developments happening in the last 5 years,i wanted to buy one here for sure since the surrounding are very green expecting good ground water,right on the 6 way lane highway direct access is always a plus point.Already layout project near by confident althena-3 slod at 1000/- per sft (location - 13.15633,77.86223), another layout (13.151566,77.862193) sold out they claim no sites available u can see the size of layout in maps very clearly,another layout getting ready (13.154146,77.864125),anish palms (13.158304,77.84536), so on
I am looking at getting a site at least 1000/- per sft on the high way side is much better deal compared to the other layouts away by 2 km from high way.if we all form group and get this thing done we will surely get benefited.
Please do your market survey before you get in to this.
Regards
Ar.Praveen.N
Ardes Architects and Interior Designers
ardesarchtiects@gmail.com