Opinion needed on Varthur/Hoskote property

[vinayshivakumar]

Hi All,

I am looking to buy a plot to construct a house in 2-3 years. I came across a very premium gated community with great amenities ~5km from the Varthur bus stiop within Hoskote limits right next to Muthsandra bus stop . Right now the last 3 km to the site from varthur is not developed.
Its pretty convenient (comparatively) for me/my wife to commute to work from here. My questions are as follows :

1) What time frame would this area develop enough i.e. streetlights etc. ?
2) Are these areas safe ?
3) Will this place see good capital appreciation from ~2000-2500 psft ? i am not looking to trade this plot , but should be able to sell it for at least break-even cost in case i need to...

In summary is it advisable to invest in this as a place to live ?

[vinayshivakumar]

Hi Guys ,
Can someone enlighten me here ??

[bnagasekhar]

Which property is it? How far is it from Madhura Nagar? I think the area has a small problem with accessibility. The only road that can take you to city is through the sub-registrar office road, which is narrow and may not be widened in near future. Things may change when peripheral road comes up..

The area is not under BBMP limits. So, I think you may not get those civic amenities until it comes under BBMP limits. But, I heard CDP2015 may include it under BBMP.
Unless there are legal issues, you should atleast get what you paid... if it comes under BBMP limits and peripheral road comes up, the prices may increase.. But, does this developer have all the approvals?

[vinayshivakumar]

Its abt 3-4km from madhura nagar, a few hundred meters from muthsandra bus stop. This is a high end property and is in prelaunch and awaiting approval(expected by this month). There is no real financial commitment till approval , so if there is an issue with approval , I can pull out anytime with no penalty. Due to the nature and size of the property , I do not expect any legal or approval problems with this.

It seems to be self sustained with sewage and water processing plants. So what difference will BBMP limits make ??

[bnagasekhar]

What is the price quoted? Who is the developer?
If it falls under BBMP limits, they will provide the necessary civic amenities outside the layout too, which would make the area develop and appreciation in capital prices. If it is from a reputed builder and has good history of handing over projects in time without hassles, then it should be ok. As I said earlier, I feel connectivity with other parts of the city is a major concern for this area.
There is only one road that joins Varthur and it is conjusted most of the times. The road betwen Varthur and whitefield too is busy most of the times.

[vinayshivakumar]

Thanks a lot bnagasekar for your inputs. I really liked the approach of the developers in this .
The last 3 km is pretty undeveloped and that is the only sore point for me...
How do I check future BBMP plans ? Also how do I check the exact alignment of the peripheral ring road ??

[vinayshivakumar]

Any other opinions ?? Go or no go ??

[ecopackindia]

Dear Sir,
Conduct a thorough examination of the titles, verify the same at the concerned offices, wherever they are available, obtain the valuation report from a Chartered Engineer and valuator, investigate into the developer/sellers credibility and demand an undertaking(legitimate) regarding the completion (as per the promise and brochure) Check the quality of the product through an professional architect and obtain a completion report, before proceeding to buy.
This is the logical way of proceeding into a transaction.
EP Team