S
Siddharth Tiwari
posted on 26 AprMy Bangalore resale experience: Not what I expected
The Bangalore resale market isn't as liquid as everyone says. Just moved into my 3BHK in Prestige Lakeside Habitat, Whitefield, last month. The EMI for my ₹1.8 Cr flat is no joke. I was trying to offload my old 2BHK in Electronic City, thinking it would be quick given the 'demand'. But honestly, it's been three months and no strong offers. Are people only interested in new launches now? Is the resale market actually healthy or am I just doing something wrong?
#resale-market#whitefield#electronic-city#emi#personal-experience
Comments
U1, I feel your pain with the EMI. Managing two EMIs, especially with today's interest rates, is incredibly stressful. That's why I'm still stuck in my old apartment, too scared to commit to a new one till I can offload the first. It's a real Catch-22 situation for many of us.
Have you considered renting out your E-City 2BHK for a year or two instead of selling immediately? The rental yield in E-City is usually decent, and that could help offset some of the EMI burden for your Prestige flat, while you wait for the resale market to pick up.
Thanks everyone for the insights! Bahut helpful comments hain. My 2BHK is in E-City Phase 1, a 7-year-old flat in a well-known builder's project. I was asking for 65L, but maybe that's too high given the current scenario. I'll re-evaluate the pricing and try some of the marketing tips. Renting is also an option I'm actively considering now. Cheers!
U1, have you tried listing on multiple platforms? And what about professional photos? Sometimes a good presentation can make a huge difference. Also, which phase of Electronic City is your 2BHK in? Phase 1 vs Phase 2 makes a difference in connectivity and amenities.
U14, good point. Also, try connecting with local brokers who specialize only in Electronic City. They usually have a network of active buyers specifically looking in that area, including many folks working in the IT parks nearby.
U15, brokers can be a double-edged sword. Some are great, but many just want a quick commission and might push you to drop your price unnecessarily. Be careful. Try direct marketing via community groups first.
U16, I second that. Mera ek broker ne toh meri property ki keys leke doosre projects bhi dikhana shuru kar diya tha! Had to change him. Always check their credentials and references.
The market is definitely favoring buyers right now for resale, especially for older properties. Agar aapko jaldi bechna hai, be realistic with your price. A 5-10% drop from your initial 'dream price' might get you serious offers. Also, E-City Metro line jab fully operational hogi, tab shayad thoda boost milega, but that's still some time away.
It's not just you, U1. The market has definitely slowed down for resale. High interest rates are making EMIs heavy, and people are thinking twice before committing. Plus, the premium for new launches (especially from known builders) is often worth it for the amenities and peace of mind. NRI investors like me are also looking for quick returns, which is getting tougher.
U2, you mentioned price point. What's considered a 'realistic' price for a decent 2BHK in E-City Phase 1, say around 1000 sqft, 5-7 years old? I'm a tenant there and considering buying, but resale rates seem inflated compared to what I feel it's worth.
My personal experience was the opposite. I sold my 3BHK in Koramangala (near Forum Mall) in just 2 weeks last year. But it was a niche, low-rise apartment, and I had done a full renovation. Maybe it's not just the location, but also the specific type of property and how you present it. E-City is a different beast though.
U10, that's impressive! What was the age of your Koramangala property? Old vs. new makes a massive difference in buyer perception, especially for resale.
U11 is right. Older properties, even in prime areas, often get scrutinised for maintenance, plumbing, electricals. Buyers want 'move-in ready' unless they're getting a steal. For U1's E-City flat, if it's 8-10+ years old, that's a factor.
And the builder's reputation for older projects! Kuch builders ki buildings ki quality degrade ho jaati hai over time, ya society management weak hoti hai. That also plays a role in resale value.
Yaar, Electronic City ka resale market has always been tricky for 2BHKs, especially if it's not a premium project ya very old. Lakeside Habitat is a different league altogether. 1.8 Cr for a 3BHK wahan is normal, but E-City mein what's your expectation for the 2BHK? Price point matters a lot. Kya asking price rakhi hai?
Totally relate! I'm also looking to upgrade from my 1BHK in Marathahalli and the thought of selling it quickly is giving me nightmares. Everyone talks about Bangalore demand but seems like it's only for specific pockets ya brand new flats. What's your 2BHK's age and builder, bro? Maybe that's affecting it.
U3, exactly! Builder reputation and project age makes a huge difference. Mera friend ne apna 2BHK in Sarjapur Road becha tha last year, took him 8 months. He had to drop the price by almost 10% from his initial ask. People are very price-sensitive now, and new launches often come with payment plans that look more attractive.
U6 is right. Plus, E-City mein supply bahut zyada hai. Har dusre building mein 'For Sale' board laga rehta hai. Buyers ke paas options bahut hain, so they're pickier. Unless it's a super unique property ya under market price, it's tough.
E-City mein demand hai, don't get me wrong. But it's for well-maintained, ready-to-move-in properties at a realistic price. Agar aapka flat 10 saal purana hai aur maintenance issues hain, toh fir problem hogi. Did you get it professionally valued?
U8, what do you mean by 'well-maintained' in E-City? Does it imply specific amenities or just general upkeep? My 2BHK is 7 years old, but I keep it spotless. Still, no serious buyers. Kya karoon?