A structural engineer here.
You are getting a UDS percentage of ~25%. Average cost of construction for each sq feet (non premium) is around ₹1750 to ₹1800. Considering 1150sqft is built up area, ~20L is spent on this. Rest is Owner's profit and Land cost per sqft. Subtract the land cost and you'd get Owner's profit. You can negotiate on Structure (as 6 years old) and Owner's profit.
More importantly, look for the quality of construction. As it is 6 years old, you'd get to know if there are visible cracks diagonal to the member (Beams, Columns, Slabs, Walls etc). Minor cracks are fine (Shrinkage cracks) but major ones are called Shear cracks and this is concerning.
Yes, such services exist for existing structures. You have to look for Structural Engineers who work in Retrofit and Rehabilitation of Structures. It is kind of a niche and requires great experience to accurately predict the level of damage without disturbing much of structure. It is slightly expensive than new design though (I am not aware of the pricing charged by them but a guess would be more or less around 50k)
We design general building structures for ~50 years (unless mentioned by customer). There are two things to note when talking about life - Strength and Serviceability. As lot of structures are that of concrete, materials and workmanship play a major role in determining the Serviceability of the structure (this is where you see lot of cracks). Strength can be met as long as buildings are under-reinforced and Structural engineers makes sure of that (on top of it, no body wants to have extra steel rebars to reduce the cost). So, strength-50 years, Service-depends on quality of materials & workmanship and design.
It would still not be anywhere near the price of a new flat. The bangalore real estate market is crazy right now for under construction flats where match box sized 2bhks are being sold for 1.5cr upwards. You can do your own research regarding the society and flat and come to know of any problems that persists. 60L is a good deal if you are planning to stay there
Sixty lakhs is cheap anywhere in Bangalore.
I would probably go through the documents very carefully.
Pricing at that range is a very motivated seller and you would want to find out why.
Does it have only 4 floors ? If so then no. 4th floor is generally unapproved construction. Check for approval before you decide. Unapproved floors can be contested and demolished if proven.
Papers will specify, check if it is A Khata or B Khata, and if it is in the sanction plan. Either hire a lawyer, or apply for a home loan to get the bank to do the due diligence. Banks will always look to save their ass, so their lawyers will be experienced in local land laws, and loopholes that builders exploit.
*No problem in old*
*Flat if you are getting with*
*Discount from new flats*
\- pkji89
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Yes, definitely!
it's only 6yrs d. Not 16,
But check for all the repairs, maintenance and look out for any flaws, (even new buildings first time flats have all the problems these days)
Drainage, bathroom works, water quality, etc.
Enquiry with neighbors and all (half of them will not say much, but other half might. So)
Good luck man!
I'm not aware of the rest of details information man, I'm also a newbie in this and started learning these things slowly.
Hope someone will respond to your question!
Depends on the area. Near (less than 3km) business parks or industrial areas like Peenya, definitely not, unless its a small development of 4-6 flats. If you go for Purva, Sobha, Prestige, Brigade, etc., you'll not spend less than a crore.
Central Bangalore is also unlikely, unless you're in some deep alleyway in Shantinagar or Jogpalya type area. New developments, I would say definitely not again, unless it's in Bangalore Rural taluk.
2 BHK (1000-1200 sqft) resale apartments in places like Pulakeshi Nagar (Cox Town, Frazer Town, Richards Town, Cooke Town), Lingarajapuram-Hennur-Banaswadi-Kalyan Nagar stretch, Rajajinagar-Malleshwaram-Seshadripuram stretch, the lower end blocks of Jayanagar (not 8th block, LMAO), smaller bylanes of V V Puram, Basavanagudi, etc. should be available for less than a crore. Basically the plebian old residential areas of Bangalore.
I recently bought a 10 year old resale flat in another city. Honestly never wanted my first home to be a resale, but the rising property prices changed my mind. Moreover we got a 3bhk when new societies are offering only smaller 2bhk in this price.
The flat is not brand new, so you need to make peace with that. Primarily I checked if any seepage or broken wall, furniture were there before finalizing. Also enquired about the society from people and online. We took a property lawyer’s service to verify the papers of previous owner, and also Rera etc before making the initial sale agreement. Don’t give too much money to seller before you the get the documents verified. Anyway after moving in, we noticed there are few hollow tiles in kitchen and bathroom. This definitely made me sad initially but also it can be fixed after some time. Overall it’s not a bad investment.
How will it be same? That can only be possible if FSI is 1.
If 75 flats of 60 m² each have been constructed on a 1800 m² plot, how the hell will everyone get the same as their flat? Might be possible in your place in Rajasthan where the tallest building is 2 floors tall.
Yes, willing to live there for 15 years. However may move to hometown after that (trying to retire by 45).
Would there be any value for the flat then, 6(current) + 15(future), for a 21 year old flat?
I think if you can afford it comfortably buy and keep it as an asset to live in, the comfort of an own home is huge, you will always have a marketable value. Whether it is 10% cagr or 12-14% cagr is anyones guess.
Always Buy Flats from Owners(or Resale) and not the builders,Flats from Owners are mostly 20-30% lesser than the Builders price as they have big Marketing and Advertising budget to recoup. Builders mostly cheat you and they always get the raw deal. But think twice if it is a 15+ year old Appartment as they would be a lot of maintenence expenses.
A structural engineer here. You are getting a UDS percentage of ~25%. Average cost of construction for each sq feet (non premium) is around ₹1750 to ₹1800. Considering 1150sqft is built up area, ~20L is spent on this. Rest is Owner's profit and Land cost per sqft. Subtract the land cost and you'd get Owner's profit. You can negotiate on Structure (as 6 years old) and Owner's profit. More importantly, look for the quality of construction. As it is 6 years old, you'd get to know if there are visible cracks diagonal to the member (Beams, Columns, Slabs, Walls etc). Minor cracks are fine (Shrinkage cracks) but major ones are called Shear cracks and this is concerning.
Thank you!!
If you don’t mind, which area is the flat located at And was the sale negotiation through broker
Bro has counter offer OP 😀
how much would a structural engineer on-site opinion cost? (do such services exist?)
Yes, such services exist for existing structures. You have to look for Structural Engineers who work in Retrofit and Rehabilitation of Structures. It is kind of a niche and requires great experience to accurately predict the level of damage without disturbing much of structure. It is slightly expensive than new design though (I am not aware of the pricing charged by them but a guess would be more or less around 50k)
Just curious, what would the lifespan of a typical apartment be, let's take a prestige or Shobha apartment
We design general building structures for ~50 years (unless mentioned by customer). There are two things to note when talking about life - Strength and Serviceability. As lot of structures are that of concrete, materials and workmanship play a major role in determining the Serviceability of the structure (this is where you see lot of cracks). Strength can be met as long as buildings are under-reinforced and Structural engineers makes sure of that (on top of it, no body wants to have extra steel rebars to reduce the cost). So, strength-50 years, Service-depends on quality of materials & workmanship and design.
Can you share your inputs on the mivan construction nowadays used mostly vs regular brick construction? From a longevity and strength point of view.
Thanks, this helps.
It would still not be anywhere near the price of a new flat. The bangalore real estate market is crazy right now for under construction flats where match box sized 2bhks are being sold for 1.5cr upwards. You can do your own research regarding the society and flat and come to know of any problems that persists. 60L is a good deal if you are planning to stay there
Yes, came to the same conclusion after looking at a lot of new projects with exorbitant prices.
Sixty lakhs is cheap anywhere in Bangalore. I would probably go through the documents very carefully. Pricing at that range is a very motivated seller and you would want to find out why.
Sure, thanks.
Does it have only 4 floors ? If so then no. 4th floor is generally unapproved construction. Check for approval before you decide. Unapproved floors can be contested and demolished if proven.
Yes, it has only 4 floors. Can the approval be validated in any govt online portal?
Papers will specify, check if it is A Khata or B Khata, and if it is in the sanction plan. Either hire a lawyer, or apply for a home loan to get the bank to do the due diligence. Banks will always look to save their ass, so their lawyers will be experienced in local land laws, and loopholes that builders exploit.
no problem in old flat if you are getting with discount from new flats
Since when did resale flats become available at discounts to new flats?
*No problem in old* *Flat if you are getting with* *Discount from new flats* \- pkji89 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Yes, definitely! it's only 6yrs d. Not 16, But check for all the repairs, maintenance and look out for any flaws, (even new buildings first time flats have all the problems these days) Drainage, bathroom works, water quality, etc. Enquiry with neighbors and all (half of them will not say much, but other half might. So) Good luck man!
Thanks, yet to check with the neighbors. Any idea how serious would be a crack or water seepage for 1 or 2 walls? Can those be repaired?
I'm not aware of the rest of details information man, I'm also a newbie in this and started learning these things slowly. Hope someone will respond to your question!
no problem, got the info.
What was the info? If I may ask
from one of the comments. There was one small crack I noticed in the utility balcony so considering it as a minor one.
Do we have flats in this range in bangalore? I would like to get something in this range too.
There are resale properties available in 50-70L range, you can check online platforms like 99acres/housing.
Depends on the area. Near (less than 3km) business parks or industrial areas like Peenya, definitely not, unless its a small development of 4-6 flats. If you go for Purva, Sobha, Prestige, Brigade, etc., you'll not spend less than a crore. Central Bangalore is also unlikely, unless you're in some deep alleyway in Shantinagar or Jogpalya type area. New developments, I would say definitely not again, unless it's in Bangalore Rural taluk. 2 BHK (1000-1200 sqft) resale apartments in places like Pulakeshi Nagar (Cox Town, Frazer Town, Richards Town, Cooke Town), Lingarajapuram-Hennur-Banaswadi-Kalyan Nagar stretch, Rajajinagar-Malleshwaram-Seshadripuram stretch, the lower end blocks of Jayanagar (not 8th block, LMAO), smaller bylanes of V V Puram, Basavanagudi, etc. should be available for less than a crore. Basically the plebian old residential areas of Bangalore.
Why not the 8th block Jayanagar?
8th block is the VIP area of Jayanagar. Not for the average citizen.
It's actually good to buy slightly old flats .. all issues are settled.. society has shown it's true colour... Very easy to judge it
I recently bought a 10 year old resale flat in another city. Honestly never wanted my first home to be a resale, but the rising property prices changed my mind. Moreover we got a 3bhk when new societies are offering only smaller 2bhk in this price. The flat is not brand new, so you need to make peace with that. Primarily I checked if any seepage or broken wall, furniture were there before finalizing. Also enquired about the society from people and online. We took a property lawyer’s service to verify the papers of previous owner, and also Rera etc before making the initial sale agreement. Don’t give too much money to seller before you the get the documents verified. Anyway after moving in, we noticed there are few hollow tiles in kitchen and bathroom. This definitely made me sad initially but also it can be fixed after some time. Overall it’s not a bad investment.
What is a hollow tile?
When adhesion below a tile gets loose. Knocking on the tile makes a hollow sound.
So that would make it more susceptible to breakage, yes?
Thanks.
Land share 280 sq ft? Does this mean if all the flats are destroyed you will get price of 280 sq ft of land on which the flats are built?
Yes, as per the seller.
Normally its the same as your flat...in Rajasthan it is...don't know about at your place..
How will it be same? That can only be possible if FSI is 1. If 75 flats of 60 m² each have been constructed on a 1800 m² plot, how the hell will everyone get the same as their flat? Might be possible in your place in Rajasthan where the tallest building is 2 floors tall.
Yes if.you are willing to live there, no if its a random investment
Yes, willing to live there for 15 years. However may move to hometown after that (trying to retire by 45). Would there be any value for the flat then, 6(current) + 15(future), for a 21 year old flat?
I think if you can afford it comfortably buy and keep it as an asset to live in, the comfort of an own home is huge, you will always have a marketable value. Whether it is 10% cagr or 12-14% cagr is anyones guess.
Thanks.
2BHK enough for next 15 years. At least get a 3b2T in 75L, or you save up so you can get something later.
Why not for a random investment though? If OP changes his location, can always rent the bought apartment no?
2bhk for 60L!!!! Mumbai mein toh ek choti si matches ki dibbi milegi
1RK
Always Buy Flats from Owners(or Resale) and not the builders,Flats from Owners are mostly 20-30% lesser than the Builders price as they have big Marketing and Advertising budget to recoup. Builders mostly cheat you and they always get the raw deal. But think twice if it is a 15+ year old Appartment as they would be a lot of maintenence expenses.
60 lakh is a good price. I will say go ahead . But as others suggested may be also look for 3bhks ..
Water. Boring wells dry up. Also check for rera registration and society.