Need opinion on buying an apartment

ramks1982
Posts: 16
Joined: January 10th, 2012, 6:13 pm

Need opinion on buying an apartment

Postby ramks1982 » April 28th, 2015, 3:43 pm

Dear Members,

I am planning to buy an apartment in Kudlu locality and have shortlisted a few. Need your expertise on the below queries -

1. 1586 sqft built 3 BHK by geetham constructions. Approx price 65 lac+reg. But the builder would not provide OC and CC. The builder is saying 24% deviation is there and it is within permissible limit and should be not an issue in getting OC on our own. Is it safe to buy? What is the permissible limit of deviation. Maintenance suggested by the builder is 1.5 rs/psqft. But location is excellent, abt 500m from Hosur road on a 40 ft main road.

2. 1818 sqft 3 BHK built by Indwin constructions with basic ameneties +swimming pool. Only 47 apts in all. OC & CC provided by builder. The price quoted is around 72lac+reg. Is it worth buying at that price in Kudlu? Since there are no major ameneties how difficult it is to sell in case after 5-7 yrs down the line. Not sure what the appreciation value could be by then? In case this is not a good option considering reselling, would it be better to buy a 2 BHK instead @ 53 l+ reg considering ease in reselling? Maintenance suggested by the builder is 1.5 rs/psqft. Slightly interior from Hosur road.


3. 1600 sqft 3 BHK by GK Shelters with about 150 apts in 2 eight floor towers. OC & CC will be provided. All ameneties provided. Not sure abt the quality of work though. Project is delayed by 4 months. Priced @ 64 lac. Maintenance suggested by the builder is 2rs/psqft. Slightly interior from Hosur road.

I am not sure how maintenance amount plays a part between high rise and smaller building apartments and how should we consider while buying any apartment.

Not sure investing in these builders above 60 lac is worth the deal?

Thanks and Regards,
Ram

msn1270
Posts: 1316
Joined: June 17th, 2009, 2:21 pm

Re: Need opinion on buying an apartment

Postby msn1270 » April 29th, 2015, 9:53 am

Here are my opinion.

1) Permissible Deviation is only 5% with Penalty. 24% is illegal(The Proposed Akrama-Sakrama limits violations to 25%. Mostly he is lying, in reality this percentage may be more. Put the onus of getting the CC & OC with the builder before registration). Hence the builder is not ready/unable to get the CC & OC. After buying it, even you can't get it legally.

2) Whether you buy 1800 sq.ft or 1600 sq.ft area is not important. Always look at the Carpet Area, rather than the Super Built up area(SBA). In any Apartment if the Carpet area vs SBA Area difference is more than 15%, then its a poor design/architecture.

3) Amenities like Swimming Pool,garden, Gym, Kids Play ground, Club House all comes with price and it is not much used over a period of time by everyone in the apartment. Whether you use it or not, you need to pay the Maintenance charges. But maintaining them in longer time is an headache even for the association as cost of maintenance keeps going high year on year, but the quality of the amenities goes down. Considering the, area of 1800+ sq.ft, it takes more time for resale. Considering 2 BHK is wise.

4) Quality is not guaranteed in majority of the builders, as you don't get any kind of guarantee on the raw materials used or the construction procedure. Even many builders claim CREDAI Listed group, CREDAI doesn't have any mandatory rules or Quality yardstick or methods to be followed by their members. CREDAI concentrates only lobbying with the Govt for rebates/discounts or arranging the exhibitions. They don't listen to any complaints by the buyers.

5) Regarding the Location, accessibility and any other benefits need to be decided solely by the buyer as its for his convenience.

ramks1982
Posts: 16
Joined: January 10th, 2012, 6:13 pm

Re: Need opinion on buying an apartment

Postby ramks1982 » April 29th, 2015, 11:30 pm

Thank you MSN1270 for your detailed explanation. I will have to now carefully consider the options.


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