R
Rajesh Naidu
posted on 5 MayMy Bangalore property hunt: Builder negotiation games
Visited Keya Homes near Basavanagudi. Builder bola 'no negotiation'. True, or just a sales tactic? For investors, what's realistic for price drops in Bangalore? CLP better ya down payment?
#negotiation-tactics#payment-plan#basavanagudi#investor#keya-homes
Comments
My advice would be to look at the total cost, not just the per sqft. Builders often quote a lower base price but then add on floor rise, preferred location charges, amenities, parking, and GST, making the 'all-inclusive' price much higher. Try to negotiate on these hidden charges. And don't forget registration and stamp duty, that's a fixed cost you can't escape.
In the current Bangalore market, especially in established areas like Basavanagudi, builders are less likely to offer huge price drops. Property values have been holding steady, and demand is still high for good locations. The 'no negotiation' stance can be true for premium projects with limited inventory. Have you looked at any projects towards the Bannerghatta Road fringes? Might find more flexibility there.
Coming to the CLP vs. Down Payment question, for first-time buyers, CLP (Construction Linked Payment) seems safer. You pay as construction progresses, so your money isn't stuck if there are delays. But yes, interest starts from day one on the disbursed amount. Down payment usually means you pay a larger chunk upfront and then EMIs start, which can be heavy. What's your comfort level with risk and immediate outflow?
U8, I totally agree. CLP is only as good as the builder's commitment to timelines. For me, a higher down payment was better mentally, as I knew my EMI would be fixed and lower. But that depends on how much liquidity you have. If you're stretching for the down payment, CLP might be the only option.
CLP sounds good but can be tricky. My friend took a CLP loan for a project near Attibele, and the builder slowed down construction massively. Now he's paying EMIs for a flat that's nowhere near completion. So, while it's linked to construction, if construction itself is slow, you're still in trouble. A good builder makes CLP work, a bad one makes it a nightmare.
Keya Homes ka track record check kar lo pehle. Some builders have a reputation for being inflexible, but also for delays. Make sure you check their RERA status and past project delivery timelines. For investors, price drops are realistic only in very specific market conditions, not generally for a good project. Basavanagudi area is pretty premium, so they might genuinely be firm. What's the per sqft rate they quoted?
U6, you can check on the Karnataka RERA website (rera.karnataka.gov.in). Just search for the project name or builder name. It will show the project details, approved plans, possession date, and any complaints. Very important to verify before putting any money down.
Good point about RERA! I almost booked a flat without checking that, big mistake. Can someone guide me on how to check RERA details properly? Is there a specific website or something I should look for?
Yaar, I just visited Keya Homes near Basavanagudi and the sales guy was super firm, bola 'no negotiation at all'. Is this a new trend or just a sales tactic to scare first-time buyers like us? I'm so confused. How can there be no room for negotiation in Bangalore real estate?
Yeah, what U2 and U3 said. 'No negotiation' means 'we want to see how desperate you are'. If you're a serious buyer and can close fast, they often find a way. Maybe not on the base price, but definitely on amenities or registration charges.
Absolutely a tactic! They'll say that but if you push hard enough, or if it's nearing quarter end, they might give some small discount or throw in a white goods package. Happened with me in a project near Banashankari. Don't lose hope!
Same experience bhai! Builders always say no negotiation. But trust me, there's always some wiggle room, especially if you're serious. They just want to test your resolve. Don't fall for it so easily.