Bangalore Apartment prices falling down drastically...

[mybdaprop]

Its not only Dreamz infra... Check TimesofIndia.. all builders in bangalore started pouring many teasing offers in 32 pages ads..

[pursh_bennur]

I mentioned these facts coz I could see
Lot of builders have lot of uncleared inventory( it
Means lot of flats are still unsold) so the prices
Could go for correction!!!

[msn1270]

mybdaprop

I'm unable to find any such descent apartment offers below Rs. 40 lakhs for a 2BHK of average 1000.sq.ft
(That too basic Cost) within city limits with BBMP/BDA Approval, public transport accessibility without too
many violations from the approved plans & any Nationalised Bank can provide loan on the project.

I saw one in the name of Indya Estate which is actually in Anekal Town(claims near Electronic City). Provident
wellworth is in Doddaballapur town outskirts(Claim it as Blr North). I don't believe Dreamz anyway. Janadhaar
flats are too small made for EWS section very very far away(Flop Project). Recently KHB itself announced the
Basic price of Rs. 3,200/sq.ft for their flats which are located beyond Surya City and Kengeri areas.

If you come across any other lucrative genuine offers in the city limit, please share in this forum, so that it can
help many of our members to make their dream to become reality.

[keshavachandras]

mybdaprop

I'm unable to find any such descent apartment offers below Rs. 40 lakhs for a 2BHK of average 1000.sq.ft
(That too basic Cost) within city limits with public transport accessibility without too many violations from
the approved plans.

I saw one in the name of Indya Estate which is actually in Anekal Town(claims near Electronic City). Provident
wellworth is in Doddaballapur town outskirts(Claim it as Blr North). I don't believe Dreamz anyway. Janadhaar
flats are too small made for EWS section very far away. Recently KHB itself announced the Basic price of
Rs. 3,200/sq.ft for their flats which are located beyond Surya City and Kengeri areas.

If you come across any other lucrative genuine offers, please share in this forum, so that it can help many
of our members to make their dream to become reality.

Hi Members,
I have picked up a flat in Puja Nakshatra, on kanakpura road Gublalla Village, it is behind Mantri tranquill apartments; I found the apartment to be decent in construction. He is quoting 3200 which is high as you can get a vacant site for 3200 - 3700; last month a transaction was close for 2900.

if this budget seems reasonable you might want to have look. there are two blocks in the building and block 1 is almost under completion and has about 8 units free. Block 2 is under construction and he has not yet opened for booking.

Hope it might help any of the members.

[PlotGuy]

mybdaprop - Let us agree to disagree. I think most people will be happy if there is a correction, much less a drastic fall in prices. I have been in touch with builders like Shoba, Mantri, Puravankara, Adarsh, Brigage etc for a number of years. All I see is a drastic jump in prices in the last 4 years.

[sreekbda]

Meaningful correction in any asset is usually preceded by what Warren Buffett refers to as "Irrational Exuberance". This "Irrational Exuberance" is accompanied by a parabolic rise of asset prices with wide spread speculatory purchases of the asset. In Bangalore, we don't see this. Even on this forum, a very small percentage of the discussions nowadays is about where/what to buy. It is more about construction for own use.

So i agree with those posters who don't forsee any meaningful correction in real estate prices in Bangalore. Real Estate in Bangalore (also India) are in a secular (i.e long term) bull market and the way i look at is that the bull is just taking a break after the run up since 2009 bottoming of prices.

Now a Black Swant even can crash the prices. But Black Swan's by nature can't be forseen by anyone:-)

[msn1270]

you are right Sreekbda,

During 2004-05, one of our manager bought a 60X40 corner site in Indira nagar for 48 lakhs, many of our colleagues made fun of him saying its too pricey
and he is a stupid. No doubt, all those who made fun of him are repenting now. I can bet even after 10-20 years, even if there is an hypothetical
situation like real estate market crash, no body can get such a plot for that price in the same area forever.

After every consolidation for a while (we can validate from 1997/2001/2005/2009/2013), prices are multiplying in indian real estate every 4-5 years.
As the middle class is occupying more than 60% of indian Population, this class has just started to realise their dreams (outside the conventional savings
like Postal department RD, PPF to investments in mutual funds, Gold, Real estate, share market....etc)of having own house, 4 wheelers, multiple salaries
in a family, onsite works, going outside trips...etc. Urban population is increasing(by migration) and rural population is shrinking.

Moreover there is a massive involvement of black money, politicians, bureucrats in this domain. As long as this trend continues and economic support
is there, we can't see any real estate market crash like in western countries.

[rohi]

Purva Highlands wont sell because there is no Road. No takers for rental also. Location Problem. Purvankara is arranging shuttle service through the barren lands !

Provident Welworth city is outskrits.. ALmost Not in Banglore.. it is in a place where Apartments are unnecessary.
You can buy site and build villa at about 35 lakhs !


These cannot be taken as example for Apartment Pricing Falling Down

[raghu_pro]

some more justification.

no buyers for bda apartments!!!
http://www.deccanherald.com/content/333 ... oject.html

even KHB also finding it difficult to sell apartments. they are giving adds from last 6 months, still not fully booked!!!
http://www.khbcustomerinfo.com/

[msn1270]

Raghu

U need to dig some more info before calling these two instances are justifying factor. Why the Same guys get several lakhs of applications from the same middle class people for their Layout projects, not for their Apartment projects.

1) People doesn't have confidence on BDA/KHB delivering Quality assets. Last time KHB Project from Shirke builders(so called premium project executed by a private builder) near kengeri is also not up to the mark and many people who bought are cribbing now.

2) Same situation from the people who bought near Yelahanka also or in the national Games village in koramangala. Even now many flats are unsold in this project despite reducing the prices several times.

3) BDA is charging around Rs. 3,000/sq.ft and KHB @ 3,200/sq.ft excluding car parking and all other deposits and statutory charges & Registration. When you include other charges it goes to Rs. 3,700 to 4,000.

4) Many of the areas they've identified for the project is not worth as of now for the price they are demanding or doesn't have good connectivity. Also in these projects, you don't have choice of choosing a unit of your choice. It will be on the lottery basis or with Ministry/Muscle/Money power. Do you think prople are stupid to invest on BDA/KHB apartments at that price, that too for highrise buildings ?

5) Malagala(Nagarabhavi) which is very near to the city centre, supposed to be a descent location where middleclass people preffers and such an asset sells like Hot Cake. But scrap people have planned only 1 BHK project of around 380 sq.ft meant for EWS section, which will be going nothing But a Slum. This shows the vision and mission of the Planning authority in the depts.

on the other side Provident housing(Puravankara Builder Sister Co) which is making so called affordable flats on mysore road near R.V College rised their property price by 2 lakhs from June first week, which means still he has lot of enquiries for his project or able to sustain his business.