Bangalore buyers: Ready possession or under-construction gamble?
7 years of throwing money at rent, and my landlord just hiked it again. I'm so fed up, finally taking the plunge to buy in Bangalore. My budget is around 1.3 Cr. I've narrowed it down to S S Park View, which is completed, and PSR Vanasree, which is still ongoing. S S Park View means no more rent payments and immediate possession, but the total cost including stamp duty, registration, and interiors feels pretty steep. PSR Vanasree's current price is attractive, but that under-construction gamble makes me nervous. Is the potential appreciation worth the wait and risk? What's the real total cost of ownership difference between a completed and ongoing project like these? Not sure which is a better 5-year investment. Any experiences with either builder or advice on ready vs. under-con?
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I was in a similar dilemma last year. Ended up going with an under-construction project because the price difference was significant, almost 20-25 lakhs for a similar configuration. My logic was, even if I pay rent for another year, the appreciation plus the lower base price would offset it. But my builder has a solid track record. What's PSR Vanasree's builder reputation like? That's the main thing to check for under-construction.
For S S Park View, since it's completed and had a possession date of Oct 2023, you'd be looking at immediate move-in. The price range of 1.3 Cr is spot on for that project, but remember it has only 8 units, so it might feel a bit exclusive or less amenities. For PSR Vanasree, what's their promised possession date? And what's the per sq ft rate they are offering right now? Knowing that helps compare apples to apples.
Good point about the per sq ft rate. The 'attractive' current price of PSR Vanasree could still be higher than other UC projects if the per sq ft is inflated. Always compare with similar projects in the vicinity, not just different types of projects.
You're right about the limited units in Park View. Less units can mean less maintenance costs but also fewer amenities. What kind of amenities are you looking for, OP? That might sway your decision.
Yes, knowing the exact possession date for PSR Vanasree is key. A lot of builders are struggling with material costs and labor, which causes delays. The current market conditions are quite volatile.
The 1.3 Cr budget is tough in Bangalore for a good 2BHK or small 3BHK, especially with ready possession. S S Park View being 1.3 Cr already, means your stamp duty, registration (around 7% in Karnataka) and interiors will push it way over. Have you calculated the actual final amount you'd need for Park View including all these? That's what scares me about completed projects.
Under-construction is a massive gamble, especially if it's your first home. My cousin booked a flat in Akshayanagar two years ago, promised possession by last Diwali. Abhi tak construction chal hi raha hai, builder ne do baar date extend kar di. Rent bhi de rahe hain, aur EMI bhi jaa rahi hai. That financial double burden is my biggest fear. Always factor in potential delays and the extra rent you'd pay.
Absolutely. And sometimes the quality of construction suffers when they rush to meet delayed deadlines. Have you checked the RERA status and past project delivery timelines for PSR Vanasree? That's crucial.
Uff, your cousin's story is exactly why I'm so scared of UC. I heard similar stories about projects near Aavalahalli. It's not just the delay, it's the mental stress too.
Bhai, I feel you! 7 years of rent is a long time. My landlord also just increased rent and I'm in the same boat, planning to buy. Ready possession sounds like peace of mind, no more landlord drama. But yeah, the upfront cost for stamp duty and interiors is a killer. My budget is similar, so I'm also torn.
What exactly feels steep about S S Park View's total cost? Is it just the registration and interiors, or is the base price itself pushing your budget? A lot of builders add hidden charges at the end.
Totally agree. Mental peace of moving in immediately is priceless. I'm so done with paying EMIs for someone else's property.