A
Ananya Tandon
posted on 12 MayResale market in Bangalore is confusing me
The resale market in Bangalore feels so dead right now. I'm looking for a 2BHK in Whitefield or Sarjapur Road, budget around ₹1.2 Cr. Builders like Prestige, Sobha ke projects mein, resales bahut slow lag rahe hain. Matlab, kya ho raha hai? People asking for crazy prices, but koi buyer nahi mil raha kya? Ya liquidity issue hai? My parents bol rahe hain ki wait karo, but I'm not sure. Is it worth buying resale now ya naye projects mein jaana better hai?
#resale-market#first-time-buyer#whitefield#sarjapur-road#2bhk
Comments
The problem is that many people who bought 5-7 years ago are now trying to exit with a huge profit margin, which isn't realistic in the current market. Interest rates are higher, and buyer sentiment is weak. I've seen some properties in Agrahara Layout, even older ones, being listed at rates that don't justify their age or amenities. Is anyone actually closing deals at these prices? Or are they just sitting on the market?
From what my agent tells me, only distressed sales or genuinely well-priced properties are moving in this market. Otherwise, it's just listings sitting for months, sometimes years. People are asking for 'dream prices' but buyers are very cautious and well-informed now. Unless
Honestly, new projects aren't much better. They might have pre-launch offers but then you get hit with construction delays and hidden costs. My cousin booked in Aavalahalli, developer promised possession in 2023, still waiting for an update. At least with resale, you know what you're getting and can move in immediately.
I almost bought a resale 2BHK in a Sobha project near Sarjapur last year, they were quoting 1.3 Cr. My friend who lives there said the association charges are very high, and the maintenance is going downhill. Plus, the property taxes are always a shocker. Have you checked the actual carpet area vs super built-up? That's where they trick you. Also, what about the RERA status of these older resale properties if they were built before RERA?
Carpet area is key! Builders always inflate super built-up and common areas. Don't fall for it.
Good point about RERA. For older properties, if they had OC/CC before RERA came into effect, then RERA compliance isn't an issue directly related to the builder. But you should definitely check all the documents carefully for any deviations or legal issues. Get a good real estate lawyer to verify everything before you even think of an offer.
Bhai, this is Bangalore. Prices never go down, only up. Builders are just waiting for the next boom. Liquidity issue is real for buyers, not for developers.
Totally agree with you, yaar. I'm also seeing crazy asking prices for 2BHKs in Whitefield, especially for older Prestige projects. Builders are not budging, and buyers are just not there. It's like a stalemate. My budget is also around 1.2 Cr, and nothing makes sense.