It is abosolutely rubbish to decide the market price of a bda site based on Auctioned Price...
In an Auction normally land mafiyaa guys, rowdys, chellas of politicians, business men guys will represnt it.. and these guys will have lot of black money and they are rich by illegal means... so they will bid the site for 3 times more than the guidence value...
And these junk Real estate guys will be chamchas... and will be waiting for these type of auctions to hike the prices in layout....
It doest mean that if one rich guy buys a bid for site in auction for Rs 3500/sf ft means that every one in world who wants to buy site in that layout need to pay same amount....
All Site buyers please be mature to not buy over priced sites in junkest areas like BSK 6th stage for Auction decided price....
If buyers decide not to pay big money in junk layout like BSK 6th Statge automatically price will falll....
Those who takes big loan to commit for these type of junk layout sites will certainly repeant later ...
Currently BSK 6th Stage Sites are worth only 1000 to 1400 Rs /Sf ft...
BSK 6th stage Site rate
Re: BSK 6th stage Site rate
I think one has to pay in white to buy sites in auction.mybdaprop wrote:
In an Auction normally land mafiyaa guys, rowdys, chellas of politicians, business men guys will represnt it.. and these guys will have lot of black money and they are rich by illegal means... so they will bid the site for 3 times more than the guidence value...
...
Re: BSK 6th stage Site rate
"Currently BSK 6th Stage Sites are worth only 1000 to 1400 Rs /Sf ft..."
BSK 6th was going for Rs 1000 in 2006. Currently, the prices are way higher, Rs 3000+. Any other observation simply doesn't reflect the market conditions
BSK 6th was going for Rs 1000 in 2006. Currently, the prices are way higher, Rs 3000+. Any other observation simply doesn't reflect the market conditions
Re: BSK 6th stage Site rate
It works on demand and supply
Look at RE clasffieds in news paper : Lot of ads only for buying, very minimal for selling.
Owners of BDA layouts such a'pura, BSK, SMV are already seen huge returns as per current market value ( allotment rate is rs 170/sqft - now its Rs 2700 plus)
Hence owners luking for higher returns as trend reflects.
Owners are selling the property only incase of any emergency requirements.
Properties which 30 km away ( devenahalli, Attibele, Sarjapura) are quoting rs 1500 +
Hence its fair enough to buy in a'pura, BSK, SMV for high returns.
Look at RE clasffieds in news paper : Lot of ads only for buying, very minimal for selling.
Owners of BDA layouts such a'pura, BSK, SMV are already seen huge returns as per current market value ( allotment rate is rs 170/sqft - now its Rs 2700 plus)
Hence owners luking for higher returns as trend reflects.
Owners are selling the property only incase of any emergency requirements.
Properties which 30 km away ( devenahalli, Attibele, Sarjapura) are quoting rs 1500 +
Hence its fair enough to buy in a'pura, BSK, SMV for high returns.
Re: BSK 6th stage Site rate
A grade Banks such as SBI, SBM will approve 75% of the registration value for BDA layouts within 7 days.
A'pura, SMV, BSk all ths layouts are developed during congress govt - however the BJP, JDS didnt want to develop as expected hence there was huge delay in developments.
as expected poll near future elections is COngress or congress + JDS hence developments are expected to be huge in 2014 for BDA layouts.
Dont repend for not buying now - BUY< BUY< BUY with current market value - Expect huge returns.
A'pura, SMV, BSk all ths layouts are developed during congress govt - however the BJP, JDS didnt want to develop as expected hence there was huge delay in developments.
as expected poll near future elections is COngress or congress + JDS hence developments are expected to be huge in 2014 for BDA layouts.
Dont repend for not buying now - BUY< BUY< BUY with current market value - Expect huge returns.
Re: BSK 6th stage Site rate
Sachin, if you are thinking of getting a BDA site at a discount in an auction, unless you are very lucky, you will be in for a big disappointment. I have participated in a few auctions of MUDA in mysore about 9 years ago. One of the auctions got cancelled as the winners of the previous auction came with some lawyers and created chaos, prompting MUDA to cancel the auction and police had to be called in. MUDA had declined to give the site to the winners of the auction due to the price being much lower than the market value (even though it was higher than the guidance value). When inquired, I was told by MUDA officials that the previous auction was for sites in a minority dominated area and so there were only a few bidders and they came to an understanding among themselves and there were minimum bids and the winning bid was very close to the reserve price. (the reserve price was gov't guidance value), hence MUDA cancelled the sites. So if the price of the site is much less than the market value, BDA might cancel the sale of the site.SachinSreepad wrote: Conclusion: It would be better to buy sites in BSK 6th Stage in any of those required Blocks through BDA eAuctions only, but for that we need to wait for a 1 or 2 years until there is good development happening at BSK 6th Stage (more people building houses), so that BDA will announce eAuctions in this locality and it would mean that you pay Government recommended Prices in that locality without being target for Market Manipulation.
Rgds,
Sachin.
Re: BSK 6th stage Site rate
Dear Lotus
Not worth to speculate any hypothetical scenario after 2013 elections. Karnataka politics is in such a pathetic condition that, none of the leading 3 parties are trustworthy anymore and none of them have eligibility/good leadership to form a new government on their own and also any genuine intention to work for common man.
From 2003 onwards Congress(Dharmu dada + Governor was incharge under president rule, where much hyped 50000 sites in 4 layouts Devaraj Urs Lyt, Shivarama Karanth Lyt, K.C Reddy Lyt & Nijalingappa Lyt never took off) was in power for 3 years and JDS(Kummi) also ruled the state for 20 months(During his last week of power he awarded DLF City project adjacent to Mysore Road near Kengeri/Bidadi which went into legal problem &d DLF backed out of the project 2-3 years back on their own). Now BJP Govt is nearer to its 5 years completion some how. But none of these 3 Governements in the last 9 years made any genuine effort to clear the way for much hyped Arkavathy Layout. But several 100 G Category / corner & commercial BDA sites in all the developed and under developer layouts in bangalore as well as across other major cities were acquired by all the MLA's/MP/Rajyasabha members and their kins across the political parties giving fake affidavits.
If you would like to know the greedyness of the present politicians, few examples are -Recently one of the RTI info exposed the present ruling governement's decision, to give contracts for layout development of 4000 acres of Proposed Kempegowda Layout, where only 25%(1000 Acres out of 4000 Acres) is in the hands of BDA, rest all in running cases from local to Supreme court. This also started when the next general election announcement is awaiting anytime.
So i'm really wonder about your optimistism on either of these 3 parties(either on their own or in coalition) will do miracle after 2013 election for the common people?
Not worth to speculate any hypothetical scenario after 2013 elections. Karnataka politics is in such a pathetic condition that, none of the leading 3 parties are trustworthy anymore and none of them have eligibility/good leadership to form a new government on their own and also any genuine intention to work for common man.
From 2003 onwards Congress(Dharmu dada + Governor was incharge under president rule, where much hyped 50000 sites in 4 layouts Devaraj Urs Lyt, Shivarama Karanth Lyt, K.C Reddy Lyt & Nijalingappa Lyt never took off) was in power for 3 years and JDS(Kummi) also ruled the state for 20 months(During his last week of power he awarded DLF City project adjacent to Mysore Road near Kengeri/Bidadi which went into legal problem &d DLF backed out of the project 2-3 years back on their own). Now BJP Govt is nearer to its 5 years completion some how. But none of these 3 Governements in the last 9 years made any genuine effort to clear the way for much hyped Arkavathy Layout. But several 100 G Category / corner & commercial BDA sites in all the developed and under developer layouts in bangalore as well as across other major cities were acquired by all the MLA's/MP/Rajyasabha members and their kins across the political parties giving fake affidavits.
If you would like to know the greedyness of the present politicians, few examples are -Recently one of the RTI info exposed the present ruling governement's decision, to give contracts for layout development of 4000 acres of Proposed Kempegowda Layout, where only 25%(1000 Acres out of 4000 Acres) is in the hands of BDA, rest all in running cases from local to Supreme court. This also started when the next general election announcement is awaiting anytime.
So i'm really wonder about your optimistism on either of these 3 parties(either on their own or in coalition) will do miracle after 2013 election for the common people?
Re: BSK 6th stage Site rate
Apura, SMV, BSK were formed and allotted during congress rule. They are not developed yet. Only some partial development like tar roads, and street lights were done in the last few years while BJP was in power. Irrespective of who is in power, these incremental development works continue to happen as the officials and the politicians need to make money and such projects are a way for them to milk the system.lotus wrote:A'pura, SMV, BSk all ths layouts are developed during congress govt - however the BJP, JDS didnt want to develop as expected hence there was huge delay in developments.
as expected poll near future elections is COngress or congress + JDS hence developments are expected to be huge in 2014 for BDA layouts.
.
Re: BSK 6th stage Site rate
Lack of development of a BDA layouts has nothing to do with the ruling party. This is how BDA/govt has always dealt with layouts. It took years and years for HSR to develop. It also took years and years for Indiranagar to develop.