GR Gardenia investment: What's the real picture?
Just moved into my 2BHK at GR Gardenia back in March, possession was surprisingly smooth. I got it for around 45L then, hoping for decent ROI. Honestly, I'm a bit concerned about the actual rental yield. I'm getting maybe 18k-20k, which feels lower than what I'd projected. Is this typical for the area, or am I missing something? Also, thinking long-term about resale. The project was completed a while ago, so I expected a more active secondary market. Are buyers actually interested in older completed projects here, or do they always prefer new launches? Seeing some listings slightly higher than my purchase price, around 50L, but not sure if that's real appreciation or just optimistic asking. What's the liquidity like here for investors trying to exit in 5-7 years? Any first-hand experiences?
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Okay, so the general consensus is that older, completed projects like GR Gardenia might struggle with both rental yield and resale liquidity compared to what we expect. This is a big eye-opener for me. I was thinking of investing in something similar in Agrahara Layout, but now I'm rethinking. Maybe it's better to consider a slightly under-construction project in a high-growth corridor, even if it means waiting a bit for possession. The initial post's concern about 18-20k rent on 45L investment is a stark reminder to do proper due diligence on yield projections, not just capital appreciation.
This is a common issue with completed projects, especially if they're not in a prime, rapidly developing area. I bought a flat in Adigara Kallahalli five years ago, thinking appreciation would be quick. While the value has gone up a bit, finding a serious buyer for resale is tough. Everyone wants the 'new' project with all the latest amenities and offers. Plus, the current interest rates make people think twice before buying a slightly older property. For investors, liquidity is key, and if it's not a top-tier location, it can be a slow exit. Your 50L asking price might be optimistic unless there's a unique selling point.
U7, banks usually don't differentiate much on interest rates for older vs. newer properties, as long as it's RERA approved and has clear titles. The issue is more about market perception and buyer demand. For resale, presentation matters a lot. A well-maintained, slightly renovated older flat can still fetch a good price.
U6, you hit the nail on the head. The 'new launch' craze is real. I'm worried about getting a loan for an older property too, do banks have different criteria or higher interest rates for these? It feels like a double whammy for first-time buyers trying to invest.
Hey, thanks for sharing this. I was actually considering GR Gardenia myself. Can you confirm if your unit is a 2BHK and what's the carpet area? Also, the RERA number PRM/KA/RERA/1251/310/PR/181226/002255 suggests it was completed a while back, so possession must have been smooth for everyone, right?
U4 is right, possession was mostly on time. My friend bought a 3BHK there for 55L, and his carpet area is around 1100 sq ft. He's also getting similar rental issues. The builder delivered, but the post-possession market seems to be the real challenge here.
Yes, U3, it's a 2BHK. Most units in GR Gardenia are around 900-1000 sq ft built-up. Possession was indeed smooth for most, I got mine last year without any issues.
Totally understand your concern. I'm also a first-time buyer and this rental yield thing scares me. My agent was showing me some properties near Aavalahalli, saying rental yields are great, but then I see posts like yours and get nervous. For an investment of 45L, you'd expect a better return, especially with property taxes and maintenance. Resale is another beast, new launches always get more hype. Old projects, even if well-maintained, struggle to compete in terms of 'modern amenities' and 'fresh look'. Maybe that's why the secondary market feels slow.
Bhai, 18-20k rental for a 45L property in Bengaluru sounds a bit low to be honest. That's like 4-5% yield? I was looking at something similar in Akshayanagar and the projections were much higher, around 6-7% minimum. Have you checked what other similar properties are getting in the exact vicinity of GR Gardenia? Sometimes micro-market differences are huge.