Group Buying of Plot/Multistorey Home in Bangalore South

venugopalba79
Posts: 1
Joined: April 23rd, 2014, 10:19 pm

Group Buying of Plot/Multistorey Home in Bangalore South

Postby venugopalba79 » April 26th, 2014, 11:08 pm

I am looking to form a buyers group to buy a suitable property in South Bangalore.

Idea is like this.

Form a group of 2 or 3 like minded buyers looking to buy property in a good location in South Bangalore
(preferably Jayanagar or JP Nagar Phase 1 - 4).

Since prices in good locations are unaffordable for the middle income buyer, buying a big plot/ multistorey
house together would make it affordable for all. (Eg: A 40 x 60 plot in JP Nagar good location could cost upwards
of 1.6 Cr. However, if 3 people were to jointly buy it, it would be very affordable).

Build a multistorey house on the plot (if buying a plot) and each buyer would get an entire floor for himself.

Prices can be negotiated based on what floor is going to be bought by the individual members of the group.

Strong legal agreements can be put into place to share the ownership (individuals should be able to sell only their
floor if required and not the plot or the entire building, just like an apartment)

People that like this idea and are interested may contact me on
email: venugopalba79@gmail.com
phone : +91-9740377330

PLEASE NOTE: Bramhins preferred or atleast Vegetarians only.


Search Terms
Joint Ownership
Shared Property
Property Sharing
Multi Owner Property
Group Buying
Bangalore
JP Nagar

duffyhair
Posts: 118
Joined: May 13th, 2009, 9:25 am

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby duffyhair » July 30th, 2014, 3:37 pm

I am interested and my budget is 40 lakhs for such property.
Let me know if something comes up. would fit your veg requirement too :D

R81
Posts: 35
Joined: May 4th, 2009, 5:51 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby R81 » July 31st, 2014, 6:05 am

Hi,

I want to participate but I don't qualify your Brahmin or Vegetarian clause.
btw I have seen similar posts in the past from different people and not sure how many of them materialized.

Rajeev

ardesarchitects
Posts: 903
Joined: June 20th, 2009, 2:12 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby ardesarchitects » July 31st, 2014, 10:14 am

Hi ,
Members interested in group buying can approach me ,who ever pass the following rules and regulations :D

1.Should be carrying at least 25 lac liquid cash --- No entry with out cash :D
2.Loans will be available only once we purchase site on one or two names max with registration (internal agreements can be done with in the group)
3.Majority of sites fit for apartments are available only for out right or sharing with landlord - in case of sharing with landlord then we have no control on price and people buying their share of flats.In case of out-right purchase don't expect the flat will be cheaper it will only be better quality and customized.
4.Should be ready for auction of flats with in the groups ( who ever pays high per sft will have option to select first and the premium would be distributed with in the group)its win-win situation ( no first come first server base )
5.We need to hire an architect ( that will be by default me :D )to get it designed to our choice.
6.Vegetarian rules is ok but what will happen when some one wants to rent the flat for some time or sell it later stages .This will only make group shorter and shorter .
7.Should be flexible with site location even in case far from your expected place ( In Bangalore we don't have choice of site for individuals it self so imagine for a groups choice)
8.Should be ready to invest at-least 30-40 k per head as site hunting fund -- this amount will not be refunded in case of drop out / failed to get a site / project doesn't happen at all , this is needed to pay landlords for taking papers to verification , paying lawyer, paying brokers other misc costs.
9.More rules will be added :D as and when we start forming group

***Conditions applicable ( to safeguard the group since he is the builder and buyer too :D )

Regards
Ar.Praveen.N
Ardes Architects and Interior designers
ardesarchitects@gmail.com
http://www.ardesarchitects.com

vpbs_bak
Posts: 133
Joined: November 7th, 2011, 9:05 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby vpbs_bak » August 7th, 2014, 7:53 am

I am interested.

Curious, how is this progressing ? Are there enough members ? Wondering what timeline we are looking

prabhu422p
Posts: 130
Joined: March 2nd, 2012, 10:30 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby prabhu422p » August 7th, 2014, 8:35 am

I am interested.Members who form a group should be flexible like site location,budget etc.

Thanks
Prabhakar

ardesarchitects
Posts: 903
Joined: June 20th, 2009, 2:12 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby ardesarchitects » August 9th, 2014, 10:30 pm

Hi guys
People are calling me to know the details.
We haven't decide on any plot or flat.we will work towards it once we have a strong group of 8-10 people.
People interested in it can keep posting on the same topic.we will discuss on this forum and take it forward.

Regards
Ar.praveen.N
Ardes architects and interior designers
ardesarchitects@gmail.com

prabhu422p
Posts: 130
Joined: March 2nd, 2012, 10:30 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby prabhu422p » August 10th, 2014, 9:46 pm

The count is now 5(venugopalba79@gmail.com,duffyhair,ardesarchitects,R81vpbs_bak and myself).
Another 5 people is required as per praveen.

Thanks
Prabhakar

blrsiteseeker
Posts: 508
Joined: July 18th, 2009, 2:23 am

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby blrsiteseeker » August 11th, 2014, 5:24 am

I have a few questions, although they may seem redundant.

1. do you have any specific area - (I know you say we should be flexible, but there has to be some bounds to stay within).
2. In the opening post you mentioned that each person gets an entire floor to oneself, but if you have 10 people in the group, do you think we get approvals for 10 floors (that is above and beyond the parking requirements).
3.The initial amount required is about 40K upfront, but do you have an idea of the total budget (I know that you cannot give an exact number, but approximately - 1 crore, 2 crores ??)


Kind of tempted to join - but need to have an idea of where in Bengaluru this might be, without that idea, it is hard for me to put a non-refundable 40K to join.

prabhu422p
Posts: 130
Joined: March 2nd, 2012, 10:30 pm

Re: Group Buying of Plot/Multistorey Home in Bangalore South

Postby prabhu422p » August 11th, 2014, 9:19 am

Once the count reaches 8 or 9 we all meet at a place and know personally each other and discuss budget,site location etc and take it forward.

Thanks
Prabhakar


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