Why is the rate of Ittina Mahavir property not going up ? Even builder is selling at Rs 2500 psqft in Jan 2013.

Q: Why is the rate of Ittina Mahavir property not going up ? Even builder is selling at Rs 2500 psqft in Jan 2013. In 2012 Ittina has made bulk sale @ Rs 2000 per sq ft.

Ittina Mahavir is the worst property investment in the last 3 years. Also Bangalore property is falling in 2013 and average rate per sq ft in Electronic City has fallen from Rs 3000 per sq ft in 2012 to Rs 2700 per sq ft in 2013

Raj, Apartment Resident

3rd February 2013

Residential Project Review in Ittina Mahavir, Electronic City Phase I, Bangalore

electronic city

property rates

ittina mahavir

property rate

2013

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Replies (4)

In 2014 Ittina Mahavir price per sq foot (with all amenities fuillpaid up + car parking + power backup + KEB electrical meter installation) comes approx Rs 2650 per sq foot. which builder is willing to sell. With other things like geysers, main door gate, etc etc it is approx Rs 2700 per sq foot all inclusive (no extras).. so not much value for money still.
Raj

Raj, Apartment Resident

18th February 2014

Comment

Difficult place for purchase as properties coming under "Gramthana" cannot be transferred (no buying or selling) until the title papers are clear.

Documents required are :
1.Copy of Sale deed
2.Sanction plan approved by Competent authority
3.Building Photo (Colour)
4.Conversion cost certificate certified by Deputy Commissioner
5.Occupancy certificate issued by competent authority
6.Photo of Owner
7. ID proof: Voter ID, PAN card, Ration Card, AAdhar card
8.Previous Khata Zerox
9. Plan Order from BDA/BBMP

In fact visit the registrars office and find out .. they will tell you that due to the regulations even they have lost out. No transfers.. means no pocket money for them. It is a pathetic situation.

Ittina builder has also not completed majority of the flats and it looks like a building still under construction when in fact possession is supposed to have been given in the year 2005-06.

Most of the flat buyers are fed up with followups with Ittina builder ...

Raj, Apartment Resident

18th February 2014

Comment

The current rate in Ittina Mahavir, Electronic city, Bangalore ts Rs. 2500 per sqft. as on September 20, 2013.

Any price above Rs 2,500 per sq ft is a premium.

Raj, Apartment Resident

21st September 2013

Comment

Some of the residents are receiving notice from Punjab National bank (PNB) for claiming the property/ eviction notice.
Also it is claimed that approval of SBI (State Bankof India) is given, but when we go to SBI for approval they say Ittina mahavir is blacklisted and it is unapproved property, so loan cannot be given.
Sale of such property which is black listed is also difficult.

With recession hitting IT industry most of the Ittina Mahavir property is is going vacant in rents and capital value prices NOT rising.
Needless to mention that the quality of the constructions is lowest (worst quality construction) in Electronic city.