Price in BSK 6th stage...

[chandramouli]

what a surprise . BDA has announced auction of commercial sites in BSK 6th stage Block 4H, close to kanakapura road. And what is the minimum bid price ???????? 50000( fifty thousand ) / sq.mtr !@#$$%%$^%^&^&&*

[mudibda]

Hi All,
Please help me out...
I want to buy a 30x40 site in BSK6th stage and visiting it more frequently for the last two orthree week. All the real estate agents are quoting price range of Rs.1900-2100psqft starting from 3rd block to 8th,10th Block.
Is anybody bought recently at this rate?
Is this rate realistic!!?
Please provide invaluable inputs before any commitement is made.

Thanks alot..
madhu

[duffyhair]

I have faced the same situation 2-3 years ago when i was trying to buy a site..
the modus operandi works something like this..
seller goes to broker and broker says.. 'yen Saaar, rate illa.. 1400 sikidre nimma luck anta tilikoli.. '
buyer goes to same broker , he would say ' 2100 kammi plots illa Saar.. Real estate ivaga sakat demand nalli ide.. '
the difference is pocketed by the broker or he gets a percentage of the rates which he gets for the seller..

[msn1270]

madhu

BSK 6th stage and all the blocks mentioned by you are not worth more than Rs. 900-1400/sq.ft based on the the site location, facing and distance from the 100 ft. main road which connects all the blocks to the NICE Road Entry point.

As said by earlier message, its a game by the agents to gain maximum between the buyer and the seller. Moreover almost all the agents who are doing Real estate business in this area are the erstwhile land owners of the same area, who got the money and also few number of developed sites from BDA w.r.to their land portion given to BDA.

Thats why only if you agree for their price, they try to arrange for the discussion with the so called Proxy owner who will be his partner or a known person for him. If the discussion and deal is through,They bring the original owner only for the registration place.

[Nammane]

I got a quote for Rs 2000 6th stage from a seller & Rs.1800 from another seller.

They claim direct allottees(IT people allotted to their parents)

May be they also getting rate info from the brokers & started quoting high, i dropped saying price is too high.

[rewatcher]

Nammane/Madhu,

No matter what the folks at Times Of India and the real estate mafia says , market has really not picked up. The uncertain situations at the job market and the economy as a whole still exists and just because a few IT companies started hiring ( mainly fresh graduates ) doesn't cause a surge in the demand. There are hardly any transactions happening and government is getting just a fraction of the revenue from stamps and registration compared to the boom time. I am searching for a plot (not in BSK though )and have spoken to numerous brokers and have sat in the so called 'sittings' and this is what I learned -
There are two types of sellers - those who would sell if they get the 'high water mark' price ( meaning the peak prices ) and those who are really in need to sell. Unfortunately very large number of sites you hear from brokers belongs to the first category. You need to be really patient in pursue of the second category sellers..one thing you can do is , contact as many number of brokers as you can and sternly tell them that you are looking for a site in so and so block and the price range should be less than x amount. Brokers will try all tricks to convince you that you won't get a site for that price, just ignore them. Also add some carrots saying that you will finish the deal immediately if the price is right. Some or the other broker will call you eventually saying that there is a owner willing to negotiate and you go to the negotiation prepared to walk out any moment. Keep doing this till you find the site of your liking at a price comfortable to you.

[ a relative of mine started looking for a site in Nagarabhavi and after 6 months of search he finally got a site for Rs.2675 per sqft just a few days back. He used the same strategy I mentioned above to weed out all the Rs.3000 plus per sqft sites brokers usually show if you talk to them ]

[mudibda]

Eye Opener. THANK YOU.
As I am not in hurry,definitely wait and negotiate policy works well.

[chandramouli]

rewatcher,

can you please indicate details like the stage/block, bda or society layout site etc on the nagarabhavi site your relative purchased at 2675 ? thanks.

[rewatcher]

It is in Vinayaka Layout - very near to the new Ring Road and the temple ( I think it is called bande maramma temple ). I think it is 2nd stage, not sure about the block. I have seen the site and it is a west facing 60*40 site facing a 40 ft road. A nice site though.

[Bangalorian]

Defiantly the prices in BSk 6th stage is not over 1400. Since I also went to buy a 40*60 plot in 5th block & the owner quoted me 1350 for a north facing plot just 2 weeks back. When we went to see that plot the broker there started saying yeah the prices have gone down. When we went to see our own plot in the same layout in 4th block(30*40) broker started saying "do u want to sell this property? If u want to sell it I can get u 1850/sqft in this layout". I just smiled myself since I bought it when the market was peak in 2007 but even then I didn't pay 1850 for that plot. So Brokers talk both ways. They r the one who is raising the prices even though the owners r aware of the market price.

My advice is please don't believe what broker says just try to do research by your own & personally I feel this is the best website to get any information before buying or investing. Since members in this r very helpful & since they r sharing their experiences so we know whats the market.

Also bsk6@yahoogroups.com for only BSK 6th stage members is also a very good source of information.