How can we evaluate the Price of a Apartment Under resale

[aman82]

Hello All,

In the Past few days checked the prices of the Flat under Resale and always felt the price Tag is more than what it is actually should be.
I understand that Age of the building/Present building condition and maintenance costs plays a important role in quoting a price for a resale flat.

Just wanted to check few things with you guys
1)How can we determine the present Base Price per square feet if the building is 3 years old for example
------Example area being on Bannerghatta road a)Behind IIM (Near to vijaya bank Layout ) 2)Behind HULIMAVU 3)Gottigere

Thanks in Advance....

[aman82]

100 views and no comments ....Guys this forum can do better than this.....

Hope my question is a valid one...


People who have already purchased the resale flat ...please let me know your comments..

[jackalbda]

Are you trying to evaluate the flat value for your information or want to see how much / why the sellers are quoting high. If its the former, then there are designated valuetors for banks who can come and value the property. If its the latter, then I dont think a valueation will do any help here. Its the seller who decides the price he is expecting. If its too high , dont go for it , otherwise make the deal !!

[aman82]

Hello jackalbda,

Thanks for your reply.Got it loud and clear.

After seeing the Ads on some sites was just trying to understand if there is any logic behind the price allocation for a Apartment Under resale.I was under the impression that i was missing some key things.

Thank you

[msn1270]

When the Guidance value is Rs. 1000/sq.ft, Buyer pays almost 3-5 times of that and major part in cash.
Simple reason is India holds more Black Money than White. For everyone converting their black money
into white is very easier in Real Estate field than keeping their money in Swiss Bank.

Hence, There is no genuine facts and figures to fix the price for an asset. As long as buyers are there,
seller can quote any price he wishes. Rest all just theories in a book.

[aman82]

Hello msn1270 ,

Thanks for your comments

Completely agree on what you have quoted Above...