Secondary market deals offer real negotiation power
IIT Delhi Area keeps coming up every time I shortlist something for investment. I'm based in Dubai, so can't do site inspections easily, which makes me super reliant on community feedback. I'm looking at a couple of 3BHKs around the ₹3Cr mark, some new from Sakshi Buildmark Pvt Ltd and some resale. Honestly, the new project quotes seem pretty rigid. Does price negotiation actually work much on new builds in Delhi? I hear secondary market deals, say for a 2.5 year old property, offer more wiggle room, maybe 5-10% off the asking? Also, what about hidden charges? Beyond stamp duty and registration, are there other big surprises popping up at possession for these older properties? Need to factor in total cost of acquisition since I'll need a property manager too. Has anyone recently bought resale in South Delhi and negotiated well?
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That 5-10% off on resale sounds like a dream, but what about the actual condition of a 2.5-year-old property? Plus, the hidden charges are my biggest fear. Beyond stamp duty, are there any major costs like society transfer fees or maintenance arrears that can really bite you during possession for older flats?
Oh, hidden charges are a big one! My brother bought a resale flat in Anand Niketan last year. Apart from stamp duty and registration, he had to pay a 'transfer fee' to the society which was almost ₹1.5 Lakh. Plus, the previous owner hadn't cleared some electricity bills, which became his problem. Always get an NOC from the society and all utility providers!
Yaar, I'm also looking in the IIT Delhi area, and the new project prices from builders like Sakshi Buildmark are just crazy rigid. They don't budge even a little! My broker said the same thing, that resale properties have more scope for negotiation. But 5-10% off? Sounds too good to be true for Delhi.
Haan, new builds mein negotiation impossible hai. They have their RERA pricing and don't deviate. Secondary market mein at least owner se direct baat hoti hai, so emotional connect ya urgency se thoda fark padta hai. But 5-10% is still a stretch unless the property is really old or distressed.
Totally agree with you! Sakshi Buildmark ki toh prices fixed hi rehti hain. No movement at all.