SMV - question on current development and prices

[sellmybda]

I have a site in SMV 8th block that I purchased 3 years ago.
I am an NRI and I would like to know how much development has happened in 8th block? Are there roads/street light/water/electricity/etc
What is the current price per sq.ft. in 8th block? What about the other blocks? Which blocks are most well developed?

I really appreciate response from local people / brokers/others who have visited the area.
I am thinking of may be selling it to buy a flat in the city since no development seems to be happening.....
It will also be very helpful to know current market price and development status in this block and other blocks from local people.

[bdasitesmvlayout]

As far as I know, 8th block has been lesser developed area and the prices are too low as compared to other blocks. This is based on what I heard from brokers and other people.

I think you should wait for some more time before deciding to sell.

Regards,
Vajra

[ragh_avan]

Hi

what about second block? after nice road? near komaghatta lake.

thanks

[bdasitesmvlayout]

@ragh_avan,

Not sure about 2nd Block, but the market news there is : 5th Block, 3rd Block and 1st block are the most sought after amongst all the 9 blocks.

Regards,
Vajra

[sellmybda]

Vajra (bdasitesmvlayout) - Thank you

[niarhab]

This area might develop, once the metro starts chugging in about 3 years time ( upto Kengeri )

[v.anand]

I have a site in 8th block too and our residential construction is under progress. The area is sufficiently developed with all the basic facilities such as roads, electricity, water, street lights, etc.

SMV 8th Block is among the most sought after blocks due to its closer vicinity to the city and being among the largest in area as compared to the other blocks. Hence, the potential for growth is more here. Lot of big infrastructure have been approved by the authorities. The pace of common infrastructure is quicker due to presence of a very active resident association. Lot of families are presently staying here and newer constructions are coming up every other day.

@sellmybda, current price here ranges from 5000 to 6000. You wont go wrong if you either sell or construct in this block.

[sellmybda]

Thank you v.anand, niarhab

[bdasitesmvlayout]

Hi,

My view is that, we should not consider the quoted prices to decide on the current market price.
Instead, we should consider the price at which any sale or purchase transactions that have happened in the last 6 months.

For instance, one month back, someone has bought a 30 by 40 site in SMV Lyt 1st block at Rs 5,200 per sq.ft. He has started the construction of house on that now. So, since this is a transacted price itself, one can consider that the current market price in SMV Lyt 1st block is Rs 5,200 per sq.ft. That would be a correct benchmark.

Regards,
Vajra

[bdasitesmvlayout]

Hi Friends,

Good news for all 1st block owners of SMV layout. It is indeed true that the mud road from KHB platinum apartments/Shirke apartments to Double road near water tank, is getting built to proper tar road. So the long pending issue of connecting road to 1st block is finally resolved. The work has already begun & I spoke to the people at work there, and got to know that within next 2 months, there would be a proper 80 feet tar road from Shirke apartments to double road which further connects the NICE road.

Few photos are attached. https://www.facebook.com/Sir-M-Visweshw ... ne/?ref=hl

https://www.google.co.in/maps/dir/12.93 ... !3e0?hl=en

Also, one more development is that the big park is also being built in 1st block near water tank. The work has already started and likely to get completed in 2 months.

There have been some really good infrastructure initiatives that have been taken up in the last couple of months.

Hence, in 1st block, people have started moving quickly & more number of houses are getting build..

Prices are also likely to increase further. Cheers!!

Regards,
Vajra