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Deepika Agarwal
posted on 3 MaySecondary market deals aren't as simple as they look.
₹90 lakh for a 2BHK in Bellandur, but the final quote from Prestige was like ₹1.1 Cr with all the extras. I'm so fed up of renting, my landlord just raised rent again. Trying to finally buy, maybe a resale in Shivajinagar or Yelahanka. Is it even possible to negotiate much on secondary market deals here? Builders barely budge, but resales... not sure if I can actually knock off more than 5-7%? And what about hidden costs like society transfer fees or unexpected repair demands? Anyone got experience with this?
#secondary-market#resale-property#negotiation-tactics#hidden-charges#bengaluru
Comments
It's a tough market for first-time buyers right now, whether new or resale. Builders are holding prices firm, and good resale properties are also commanding a premium due to high demand. The key is patience and extensive research. Don't rush into anything, and always factor in at least 10-15% extra over the quoted price for stamp duty, registration, society charges, and potential repairs. Shivajinagar and Yelahanka both have pros and cons, depends on your priorities.
My personal experience with resale was a nightmare. I thought I got a good deal on paper for a 3BHK in a slightly older building. But after moving in, I found out the previous owner had done some structural modifications without society approval. Getting it regularized was a huge headache and cost me an extra 3 lakhs in penalties and legal fees. Plus, the electrical wiring was ancient and needed a complete overhaul. Always get a detailed inspection done by an independent professional, not just trust the broker's word.
Good question! RERA primarily covers new projects. For resale properties, especially older ones, RERA's direct protection is limited. You're more reliant on due diligence, the sale agreement clauses, and local municipal laws. Make sure your lawyer checks all property documents, including the Occupancy Certificate and any past modification approvals. It's a buyer beware situation for resale, so thorough checks are crucial.
What about RERA for resale properties? Does it offer any protection for such issues?
That's a scary story! Thanks for sharing. This is exactly why I'm so nervous about Aavalahalli resales too.
Shivajinagar for resale sounds tricky, yaar. Properties there are usually older and might need significant renovation, which adds to the cost. Plus, the appreciation might not be as high compared to emerging areas. Have you considered areas like Aavalahalli? Might get something newer for a similar budget.
Totally relate! I saw a 2BHK in Yelahanka, listed for 85L, but the broker kept hinting at 'other charges' that would push it past 90. It's so frustrating as a first-time buyer. Kitna negotiate kar sakte hain realistically, especially for a property that's already 5-7 years old?
Sahi kaha, negotiation is tough. The hidden costs are the real killer. My friend bought a resale in Akshayanagar last year, and after possession, the society demanded a huge amount for 'undisclosed maintenance arrears' from the previous owner. He had to fight it out for months. Always get a clear NOC from the society before finalizing anything, and check for any outstanding dues.
Dekho, negotiation depends on a lot of factors. If the seller is in a hurry or if the property has been on the market for a while, you might get a better deal. But generally, for a decent, well-maintained property in a good area like Yelahanka, 5-7% is a stretch. I recently closed a deal in Marathahalli, and after a lot of haggling, could only get about 3% off the asking price. Plus, don't forget the society transfer fees, sometimes 1-2% of the property value, and maintenance dues.
Bhai, exactly my situation! Bellandur mein rates sunke toh dimaag kharab ho gaya. Lagta hai builders ne milke rate fix kiya hai. Resale mein bhi koi khushkhabri nahi mil rahi.