Old House -KR Puram CV Raman nagar -is it worth? Plz. Adv

[sumitha.r.d]

Hi Everyone,

I came across a property in Nagavarpalya CV Raman nagar, its walkable from KR Puram road and close to More market and Gopalan mall. Its 30*40 and grnd+first+second floor(2200 sq.ft) constructed. 12 years old construction no pilars. But it can fetch rent of Rs 32,000. They quote cost of 68Lakhs. Land cost being Rs4000/sqft (4000 * 1200 = 48L).

Thanks,
Sumitha.RD

[nitinku5021a]

In my opinion, you are correct in valuing the building. So you should not pay anything more than 48+(10 to 12 lakh) = 58 to 60 lakh. For road widening part, visit the BBMP office and pay a little amount to get the confirmed information.

[Raju1]

If it is not in the Main Road, then you can buy. But as it is Nagavarpalya Road is Crowded 24 Hours. Where exactly this property in nagavarpalya

[sumitha.r.d]

Hi Raju, I did not see your comment, its around 200mtrs from More and from the main road one turn in left and first right just 2 house from main road.
They say no ground water but cauvery water is already available, will this area appreciate further in future?

[Raju1]

I do not know about appreciation. I am not able to understand the location of the house exactly.I am staying close to nagavarpalya. provide me contact details of the house owner so that i can have look at the property.

[hkrish]

Folks,

Please help me understand the evaluation process for this house.
Any where near Marathahalli, ORR, Kundalahalli gate i have checked psft is around 3k to 3.5K for apartment itself.
I suppose same has to be the condition of apartments near CV raman nagar, atleast 3.5 to 4K due to nearness of Bagmane tech park, big-bazar, gopalan mall etc,.within 2-3 km radius. In apartment, of 1500 sft, itself it would be 4000 psft, but the actual land available will be only roughly 500 sft.
But in this case, the land available is more 1200 sft. So would the pricing of this house not be lower priced ?

Technically if an apartment of 3bhk-1500*4000 = 60 lacs, then is this house not cheaper compared to apartment. I thought houses have more appreciation compared to apartment, please share your thoughts

Regards
Hkrish