Is it worth to buy resale flats in Bangalore?

Nothing can be more profitable than purchasing a flat at a price much lesser than the market rate. Moreover, the resale flats are fully constructed and come with a ready-to-move-in tag. One of the biggest benefits that the resale apartments provide is the tax benefit after gaining possession. A deduction of Rs.

Is resale flat good to buy?

Nothing can be more profitable than purchasing a flat at a price much lesser than the market rate. Moreover, the resale flats are fully constructed and come with a ready-to-move-in tag. Hence, if all the other factors work in your favour, it might be a good idea to invest in a resale flat.

Does flat have resale value?

Yes, apartments do have resale value. If you are looking for an investment look for apartments in developing areas (instead of buying it in city center). Apartments with affordable price gets more buyer compared to high-priced apartments for the obvious reasons.

How is flat resale value calculated in Bangalore?

Answers ( 2 ) To calculate apartment resale value in Bangalore, one must consider various factors such as location, age and condition of the flat, view from the property (this reminds me of the “Baadal important hai” joke by Zakir Khan, anyway), floor plan, market value of the similar properties, clearance rates, etc.

How old resale flat should I buy?

Buy an HDB resale flat as a single. You must be at least 35 years old if you are unmarried or divorced, and at least 21 years old if you are widowed or an orphan.

Is it worth buying 25 year old flat?

So you can go ahead and buy old apartments even if it is 25 years old and you will not repent your decision. You can easily calculate price of an old apartment as below. Ask the owner about share of the land in sqft (Called as Undivided Share of land or UDS).

Should I buy a 30 year old flat?

If the building is located in a good locality one can get an old apartment at a lesser price than a new one. Besides banks allow maximum repayment period for 30 years in a home loan. So if quality of construction is good one may purchase an old flat at a lower cost than a brand new house.

Why is resale flat more expensive?

A resale flat is a house that’s currently owned by another party. Hence, it has a shorter lease tenure than a BTO flat. The price of a resale apartment is subject to demand and supply and is often more expensive than its BTO counterpart.

When can I sell my resale flat?

five years
The Minimum Occupancy Period or MOP means flat owners can’t sell or rent out their property for five years. But after that, there ways of either upgrading or monetising your home.

What is the life of a flat in India?

The normal design life for a house or an apartment is about 60 years. If it is a commercial complex the design life is about 80 to 100 years.

Why are resale flats so expensive?

“There’s a strong demand for resale flats and the supply of resale is inflexible,” said Mr Mak. “So as a result, we see demand stronger than supply (and) prices go up.”

Is it good to buy a plot in Bangalore?

Since Bangalore is growing rapidly, it is difficult to find a good deal for plots which are in the heart of the city. Especially areas like Koramangala, Indiranagar, Yelankha, Malleshwaram etc. They will be overpriced and on a higher side for working professionals looking for buying for self-use.

How much does it cost to buy an apartment in Bangalore?

For an apartment worth 60,00,000 INR you end up paying almost 1,01,55188 INR. So basically, you are paying 170\% of the original price fo r 1500 square feet and getting a meager 250–400 -ish square feet in reality. 3. UNSOLD INVENTORY: Bangalore has upwards of 79000 unsold units.

Where can I buy a 3BHK flat in Bangalore?

3 BHK, Multistorey Apartment is available for Sale in Mysore Road, Bangalore for 80.0 Lac (s) Book a telephonic or on-site consultation as per your convenience. A ready to move in 3BHK Flat is up for sale in SLV Central Park, Old Madras Road, Bangalore.

How many apartments are there in Bangalore’s state of heart?

The state of heart compendium of highrise towers comprises a conglomeration of 2,520 world class apartments. Added to that is a massive retail area and the largest Forum Mall in Bangalore, all conceptualised by Prestige.