• Post Reply Bookmark Topic Watch Topic
  • New Topic

Appt cost in Bangalore  RSS feed

 
jyothi godavarthy
Ranch Hand
Posts: 135
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Hi,
Can anybody tell me how much does a 2BHK apartment cost in Bangalore in places like Koramangala, Airport Road, Marthahalli etc.....
 
jyothi godavarthy
Ranch Hand
Posts: 135
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
And how about an independent house, is it costlier than an apartment?
 
Arjun Shastry
Ranch Hand
Posts: 1906
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
It should not be more than 6K with 60K deposit.Similar to Jayanagar/JP Nagar.Independent house should be costlier than apartment I think.
 
jyothi godavarthy
Ranch Hand
Posts: 135
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Nope, I am not asking about rent, I am asking about the amount required to buy a house.
 
Arjun Shastry
Ranch Hand
Posts: 1906
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Airport Road may be from 25Lakhs onwards.Last month I attended Reality show,there they were quoting these kind of prices.Costliest among all was Jayanagar,30 Lakhs for 2 BHK.As you go towards Sarjapur or towards Banerghatta National Park,prices go down.Banashankari/JP Nagar VIth phase was 18-20 Lakhs etc.Purchasing of house,beyond my imagination.
What are you looking for ? house or apartment?and whats your budget?everything depends on budget.
 
Ashok Mash
Ranch Hand
Posts: 1936
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Originally posted by Ram Abdullah D'Souza:
Airport Road may be from 25Lakhs onwards...

That�s like 40 to 60 thousand euros! Damn, that�s expensive! How are the buyers sourcing that sort of money (keeping in mind that average IT salaries are in the range of 500-1000 euros per month)? What are the mortgage rates like these days?
 
Arjun Shastry
Ranch Hand
Posts: 1906
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
People who are buying these kind of fancy apartments(yes,fancy with electronic security to protect from 'outsiders',swimming pools,pool table etc) are NRI(non residential Indians) who have returned back from western countries.Locals where both spouses work in IT too are purchasing these kind of things.Loans ,I am not sure but should be between 6 to 8% I think.Builders are aware of this hence they hardly negotiate with the price.I was almost fainted when one builder told one price of 2BHK apartment(1200 sq.feet) is Rs 32,00000.!!In that Rs 1,00000 was for car parking(and this was mandatory).Now Rs 3200000 i.e. Us $70,000,still a big amountD
[Its not just IT but people in following area are earning like anything]
1)Fashion Designer
2)Architect
3)Small/medium scale enterpreneurs
4)Restaurant owners
Ofcourse this is limited to very few cities including Banaglore.
[ May 04, 2004: Message edited by: Ram Abdullah D'Souza ] :
[ May 04, 2004: Message edited by: Ram Abdullah D'Souza ]
[ May 04, 2004: Message edited by: Ram Abdullah D'Souza ]
 
jyothi godavarthy
Ranch Hand
Posts: 135
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
I am looking in the range 15 to 20, looking for lesser but not finding any.Met a builder with apartments in Marthahalli and he says 25 lakhs for 2 BHK and in that he says 1 lkh for car parking, 1 lakh for maintence, and what not.And he says he hasn't yet started construction and the apts will be ready in 2006, my goodness, i cannot believe it and till then i will have to pay emi and rent too.......how can I, anyone knows a way out, and is this common here, Bangalore is too costly city , is it the same in Mumbai, chennai or hyderabad.
 
Arjun Shastry
Ranch Hand
Posts: 1906
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Great,As I said 15-20 Lakhs,look near Banashankari,JP Nagar VIth or higher phase.Also near Sarjapur or other end Banerghatta Road towards IIM BLR.Cost of real estate in BLR is jacked up due to bloated IT business.I don't know about HYD/Chennai but Mumbai is worse than Bangalore.
Considering current situation rent can't go down unless some tragic worldwide/national event occurs resulting in drop of IT in Bangalore.Look for cheaper areas I stated.One builder showed me 1100 sq feet 2BHK on Banerghatta road for 13 lakhs.but its remote location.He assured me in next 2/3 years area will be full of markets etc...
 
Ashok Mash
Ranch Hand
Posts: 1936
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
How�s bus/rail/road network and traffic into and out of Banglore? Is it practical to live twenty or so kilometres away and drive in (or public transport, if reliable? Considering the population of Banglore, I would prefer driving!). May be you can buy a bigger house outside Banglore and buy a good motor with the saved funds! Not to mention cleaner air and bigger living space!
 
Pradeep bhatt
Ranch Hand
Posts: 8933
Firefox Browser Java Spring
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
Originally posted by Ashok Mash:
How�s bus/rail/road network and traffic into and out of Banglore? Is it practical to live twenty or so kilometres away and drive in (or public transport, if reliable? Considering the population of Banglore, I would prefer driving!). May be you can buy a bigger house outside Banglore and buy a good motor with the saved funds! Not to mention cleaner air and bigger living space!

Public transport is pathetic. God save bangalore, I think I should move to Italy.
 
Manish Hatwalne
Ranch Hand
Posts: 2596
Android Firefox Browser Ubuntu
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
What's so special about Italy? Except for those delicious pizzas and pastas?
- Manish
 
jyothi godavarthy
Ranch Hand
Posts: 135
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
But the traffic is bad, and you may need to spend a lot on petrol/diesel, so maybe better option is to buy a flat/house nearby, and as the rates escalate, you will get a good price to sell in case you need to shift.
 
Arjun Shastry
Ranch Hand
Posts: 1906
1
  • Mark post as helpful
  • send pies
  • Quote
  • Report post to moderator
This is not a bad option.But also remember that Bangalore's economy is nothing more than IT shops.So if you deduct these shops,Bangalore has nothing to offer than few gardens and trees(There are many govt firms but they are too rigid and can not add to economy or create jobs as rapid pace).
Bangalore ,till 80s was mainly known as Pensioners's paradise.Apartment culture is still new here.Majority of population prefer to stay in houses.Hence when jobs move from Banaglore to somewhere,there will be very few people who will be interested in real estate apartments.But as of now real estate is booming.
 
  • Post Reply Bookmark Topic Watch Topic
  • New Topic
Boost this thread!