H
Harshita Jain
posted on 9 MayLegacy Celino's resale market might be a dead end for investors
Been looking at Bangalore properties for months now from Dubai. Legacy Celino in Marathahalli caught my eye, it's completed which is a plus. But yaar, can't do site visits easily. Main concern is the resale market for this project. Is it liquid enough? I'm thinking long-term investment, maybe 5-7 years, but want an easy exit if needed. Kya actual rental yield milta hai jo brochure mein hai? Ghost society ka risk toh nahi hai with too many investors? Builder ka track record after possession, especially for NRI owners, kaisa hai? Any issues managing property via power of attorney? Need ground truth on this. Is the price per sqft justified compared to similar completed projects nearby?
#legacy-celino#resale-value#rental-yield#nri-investment#bangalore-real-estate
Comments
Overall, Legacy Celino being completed is a definite plus point, especially for someone looking from abroad. No construction risk is huge. But the concerns about resale liquidity, rental yield accuracy, and post-possession builder support are valid, given the limited number of units (24) and the premium price range (₹1.7 Cr – ₹2.8 Cr). For a 5-7 year investment with an easy exit, it might be too niche. Maybe explore larger, more established communities in nearby areas like Kadugodi or even Whitefield, which offer better amenities and a more active resale market, even if they are slightly further. Consider your risk appetite versus potential returns.
So, original poster, what did you decide after all this discussion? Did you find any alternatives?
The 'ghost society' risk is real for such low unit counts, isn't it? If half the owners are investors not living there, and the other half are maybe just using it as a second home, then the common facilities might not be maintained properly. Plus, getting enough people for RWA meetings and decisions would be tough. Is this a common issue in Bangalore for smaller projects?
Haan, yeh common issue hai. Small projects often struggle with community management and shared costs. If a few units are vacant or owned by absentee landlords, the burden of maintenance falls on the remaining few. This can lead to disputes and poorly maintained common areas. For a project with only 24 units, this risk is definitely higher than in a society with 100+ units where the costs are distributed better and RWA is more active.
Aavalahalli mein rental yield thoda better hai, maybe 3-4% if you get a good tenant, but selling a plot can take a while unless it's a very prime location. Coming back to the original post, NRI owners ke liye power of attorney se property manage karna ek alag headache hai. Builder ka track record post-possession bahut important hai. Check if they have a dedicated facility management team or if they just hand over to an RWA and wash their hands off. Many builders promise the moon pre-possession but disappear afterwards. Especially for a small project like Celino, it's a concern.
Mujhe toh lagta hai, NRI investors ke liye yeh project aur bhi risky hai. My uncle bought a flat in Bangalore, managed through a POA, and it was a nightmare. Tenants were an issue, maintenance was ignored, and the POA holder wasn't proactive. Ended up selling it at a loss after 8 years. Unless you have a super reliable POA holder, it's better to stick to properties that are easier to manage remotely, or a larger, well-established society with robust RWA. Legacy Celino ke 24 units mein toh communal issues bhi bahut honge.
But at least it's completed, right? That's a huge plus point compared to under-construction projects jahan builder dates pe dates deta rehta hai. Marathahalli is a prime location, so the price might be justified for a ready-to-move-in property. And 24 units means more privacy and less crowd. Maybe that's the appeal?
Completed hona achha hai, no doubt. But current market conditions mein, even completed projects struggle agar price point high ho. ₹1.7 Cr – ₹2.8 Cr for 24 units, that's a niche market. Resale mein buyer pool bahut chhota ho jaata hai. Plus, rental yields are rarely what's promised in brochures, especially for high-value properties. You'll be lucky to get 2-3% net in Marathahalli these days after expenses. It's not a ghost society risk, but a 'niche-society-with-low-demand' risk.
Bhai, Legacy Celino? 24 units only? That's a red flag for resale liquidity in 5-7 years, especially in a market like Bangalore. Marathahalli mein competition bahut hai. Price range bhi ₹1.7 Cr se shuru ho raha hai, which is quite steep for a project with such low density. Exit strategy toh mushkil lag rahi hai, long-term investment ke liye kuch aur dekho.
Exactly my thoughts! I almost invested in a similar small project near Akshayanagar a few years back. Thought it was exclusive, but when it came time to sell, nobody was interested because of the limited community and lack of amenities compared to larger societies. Ended up holding it much longer than planned. For a first-time buyer or investor, liquidity is key, especially if you're not on the ground to manage things.