[Lalvaz]

Originally Posted by Karthik Mathur

While I hope this would lead to rationalisation of real estate prices since the investor class might stay away, all that would happen is an increase in black money as cash transactions will go up.

I don't think so, since transactions have to be close to Ready Reckoner values, so very limited scope for black money in urban areas. Rural areas I can't comment.

[Capri89]

Actually non-indexation benefits in certain cases

I did a small calculation for two of my properties. Suppose I sell them now at an estimated market value.

1. For property purchased in 2006 I save on LTCG of about 90 K by non-indexation
2. For property purchased in 1995 i save on LTCG of about 22 L by non-indexation.

What is interesting is that the breakeven (LTCG neutral) selling price gets reduced

1. For property purchased in 2006 by 12 L only
2. For property purchased in 1995 by a whopping 1.64 Cr.

In conclusion, whether it is beneficial or not depends on several factors like current selling price, original purchase price, age of the property etc.

Just now heard that property values indexed upto 2001 are grandfathered for capital gains. Awaiting more details.

[sirius]

How are the real estate (residential plots and agriculture lands) prices in different parts of India?

I am asking this because my uncle is selling his ancestral property due to compulsions and getting a decent chunk of money. The buyer is willing to close the deal in complete white (which is a rarity in RE). I suggested investing half of it in liquid assets like stocks, bonds, MFS, SGBs, etc for diversification and monthly cashflows but my uncle is adamant about investing the proceeds in land or an independent house (G+2 types) only as they had bad experiences in other assets like bonds, MFs etc.

But it seems prices are too high in and around Hyderabad. So wanted to compare how are the prices around other major cities to see if this a Hyd-specific boom or not. Is it sensible to invest them at these prices for the short term or long term? What kind of returns are expected in CAGR terms for the next 10 years? Any chances of generating regular cash flows from it?

For example, the following are the prices around Hyderabad as per my uncle:-

Residential plots
1. Near major centers and IT areas >1.5L/yard.
1. Other normal residential areas within the city - 80k-1.21L/yard.
2. Suburbs (Non-IT and Habitable) - 40k-70k/yard
3. Suburbs - Plotting ventures (not habitable at present) - 20k-40k/yard

Agriculture lands (add +/- 20% for any road facing or not) (Not very productive lands in terms of agriculture. In lands with a good amount of water paddy cultivation is done else mostly mango orchards are present or left barren)
1. Non-highway facing and Nearby (5-10 km from suburbs) to the city - 1.5-3cr/acre
2. Non-highway facing and medium distance (10-30km) - 0.8-1.5cr/acre
3. Non-highway facing and 30-60kms - 0.4-0.8cr/acre.
4. Even very far - > 20 lakhs/acre (need to go almost 100 km from city that too 10-20kms interiors from any major highways to get lands at less than 30 lakhs/acre)

He is not considering commercial plots and highway-facing lands as they are prohibitively expensive to purchase. Apartment flats are also not on his radar as he thinks they are for end use.

[dass]

Anyone in Bangalore has any experience/views on buying plots from teachers society? https://kstewd.org/

Couple of their recent developments seem promising, however wondering if they are also one of the many registered societies that just take money and do nothing in return. Looking for some advice.

[xway]

Originally Posted by dass

Anyone in Bangalore has any experience/views on buying plots from teachers society? https://kstewd.org/

Couple of their recent developments seem promising, however wondering if they are also one of the many registered societies that just take money and do nothing in return. Looking for some advice.

Please save yourself. In property, papers are the king.

Dont be lured by low rates, anything legal and clear will reflect in price. Every other day such co-operative, societies, associations popup and disappear without a trace.

Some do give you the land share, and you may construct house as well, but it can never be a legally cleared land.

There are only the following available in Bengaluru -

- All clear lands like BDA, KHB best thing to buy for lifelong peace.

- Prime builders lands/plots RERA certified, DTCP cleared, Authority like BIAPPA, STRR, BMICAPA, BMRDA approved.

Anything which is not RERA certified lacks some crucial documents and thats why they mention x approved, x applied but never state clearly.

Smaller than 5 acres projects needs clearance from the governing authority under whose jurisdiction it comes.

So, if just DTCP cleared, or E khata or A khata, BDA NOC, Panchayat Khata are semi legal land parcels which can have potential issues in the future.

Note that buying agricultural land and plot for house is different. Merely getting the land does not allow you to construct house, have water, electricity, sewerage etc., which has to be provided by the authority. Similarity getting loan on a piece of land also does signify that its clear title and you can build on it.

Hope this helps as I was in the same boat and researched more than a year to get a clear picture.

[dass]

Originally Posted by xway

Please save yourself. In property, papers are the king.


Hope this helps as I was in the same boat and researched more than a year to get a clear picture.

Thanks for the insights, truly appreciate it. Is your feedback in general or is to specific to the teachers layout? The reason I ask is that these guys have completed few layouts around Bangalore already. While I am not inclined to buy from them, wanted to understand more for my knowledge.

[115]

Originally Posted by dass

Anyone in Bangalore has any experience/views on buying plots from teachers society? https://kstewd.org/

Couple of their recent developments seem promising, however wondering if they are also one of the many registered societies that just take money and do nothing in return. Looking for some advice.

This question was asked in one of the WhatsApp group that I am part of. Feedback from the response is that people have invested in 2022 but the approval and land conversion process is getting delayed and doesn't seem to have completed till date.

[AMG1]

Hi Team, I accompanied my friend to see a pre-launch Prestige Sommerville project that he was interested in, but the prices quoted were upwards of 2.55 cr for 1900 sft 3 bhk and all 1/2/2.5 BHK are supposedly sold off as conveyed by the salesman. This project has a very bad approach road/kind of by-lane road that leads to Varthur lake. Project handover they said will be 2028.

Is the right ballpark price going for a pre-launch stage under-construction property in a sort of bad area in Bangalore? Has Bangalore become this much expensive? My friend is open for standalone resale apartments too but no broker seems to be handling such type of inventory as per him.

[ninjatalli]

Originally Posted by AMG1

My friend is open for standalone resale apartments too but no broker seems to be handling such type of inventory as per him.

For 2.55 Cr, your friend should be able to get several options across the city if he puts some effort in searching for options across the city. Nobroker and 99acres are a decent starting point; especially with the a paid access to the former, he should be able to find atleast a few owner based 3bhk flats across the city. There's no set pattern - he might find recently completed builder/investor owned flats in that price range as well as 20+ year old flats in older apartment complexes (even if he limits to the known builder names).

Ask him to have patience and put effort and time into it.

[Capri89]

Hello friends,

I need some clarification from knowledgeable members here regarding properties under village panchayat in Karnataka.

If properties are listed as 11 B with PID issued, are these genuine properties?

Thanks in advance.

[Cleatus Wesley]

Hey!
I need suggestion from people living in Chennai.
I have shortlisted an apartment which is close to my workplace in Guindy. The apartment is Jains Aadheeshwar, Manapakkam which is near IPS colony. I feel the area really secure and peaceful and it is also close to the proposed metro station. It is also close to Adyar river which worries me a little. Also, the builder has been in the news for shoddy construction in the past. (Read: Jains Westminster).
I would like to hear some suggestions from fellow Bhpians.

[dass]

Any suggestions for plotted development's across STRR Bangalore for investment purposes? Nothing too expensive, but with genuine titles.

[amit1agrawal]

Originally Posted by AMG1

Hi Team, I accompanied my friend to see a pre-launch Prestige Sommerville project that he was interested in, but the prices quoted were upwards of 2.55 cr for 1900 sft 3 bhk and all 1/2/2.5 BHK are supposedly sold off as conveyed by the salesman. This project has a very bad approach road/kind of by-lane road that leads to Varthur lake. Project handover they said will be 2028.

Is the right ballpark price going for a pre-launch stage under-construction property in a sort of bad area in Bangalore? Has Bangalore become this much expensive? My friend is open for standalone resale apartments too but no broker seems to be handling such type of inventory as per him.

On thumb rule that I have come to learn in my 23 years in Bengaluru. Avoid any property that shares a boundary wall with a lake. Overtime, the lakebed and the water channel that connect one lake to another gets encroached; remember the water channel for Saul Kere lake in Bellandur was encroached upon by Ecospace tech park leading to flooding of the entire area just 2 years back. A heavy rainfall and the water enters the properties that are built on that lake bed. On other days, the lake is treated just like a one big natual STP. The Varthur lake was infamous for producing methane gas and white foam just few 2-3 years back. Imagine living in apartment with bad smell, frothing white foam while being concerned about what you are inhaling. Ofcourse, the marketing team at Prestige (or any builder) will sell you these Lake-view flat at premium. In this case, Prestige themselves are blocking the water channel of Varthur lake by building a mega project, Prestige Rainforest, right on the varthur lake bed just couple of hundred meters from this project! Read the google reviews about the project. This is day light robbery of public land and our authorities look the other way because their whole body has been greased (not just hands).

Regarding these sold-out flat in Prestige, this is not new tactic. Prestige conducted a 3 day fair for it's upcoming Shantiniketan project in whitefield with 3000 units in 2005. When I went there on 3rd day, all the flat except the odd ones were sold out. Just a month later, when I searched magicbricks.com (online property listing was very new then), I found more than a hundred flats available for resale at a slight premium. Few years later one entire building was still not occupied because it belonged to landowner who had probably kept it as a retirement fund. They pre-book 50-60% of their inventory to seller partners (brokers in common parlance) to create an artificial demand-supply gap.
IMO, your friend is better off without booking in this project.

https://www.deccanchronicle.com/nati...-disaster.html

https://www.quora.com/Why-does-the-V...foam-like-this

https://citizenmatters.in/bengaluru-...n-system-maps/

[Abbas]

Hello Guys,

Has anyone invested in fractional commercial real estate by Strata or any other start-ups?

I searched the thread but did nto get any recent reviews. Can anyone share their experieces with such investment.

The risk ofcourse is that it seems that it is not regulated. And you are just getting a peice of paper instead of physical property.

However, the rental yeild seems to be good. Can someone please shed some light on this?

[ninjatalli]

Originally Posted by amit1agrawal

Prestige themselves are blocking the water channel of Varthur lake by building a mega project, Prestige Rainforest, right on the varthur lake bed just couple of hundred meters from this project! Read the google reviews about the project.

They seem to have removed the reviews. What was the gist of that?

Edit: Did you mean "Prestige Tech Forest" (which is on the lakebed of Varathur lake). There are some ~70 1-star reviews of that project.