Buying an old flat in JP nagar phase 5

Q: How about buying an 10 year old apartment around j p nagar 5th phase. The owner is quoting 45L. The property is close to the proposed metro station, is it worth buying this property

Promit C, Bangalore

27th February 2013

Buying property in Bangalore

apartments in bangalore

bangalore realty

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Replies (6)

Builders in India do not use techniques which will enhance life of the building. Life of building in Bangalore generally has 40 years of age, If maintained properly can be increased to 60 years. But because of RWA issues and not all residents wants to contribute equally towards maintenance and upkeep of the building. It is better to buy an apartment from a builder who has a good track record of doing quality construction.

Lewin G,

2nd April 2013

Comment

What does the life of an apartment mean?

Abhilasha, Bangalore

5th March 2013

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What happens at the end of 30 years, 50 years or 80 years whatever is the life of an apartment.

Srinivas Rao , Bangalore

5th March 2013

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As per my knowledge in Bangalore current allowed FSI is 2.5, That means if builder has land of 10000 SFT, then he can build apartment which should not exceed the total built up area 25,000, ( For example he can build 25 Flat of 1000SFT each) ( each apartment owner gets 400 SFT of undivided land share).For example, after 30 years if apartment becomes old and if 75% owner ready to demolish it and construct new apartment then they can sign for redevelopment. If apartment was build 30 years back with only 1.5 FSI earlier days and lot of space left at 4 sides. That means on 10000SFT land there is only 15 Apartment present. Then builder will sign for redevelopment of apartment and construct 25 new apartments in place of 15 and give those 15 apartments back to owner and keep 10 with him.

Rakesh, Bangalore

5th March 2013

Comment

Hey Promit, First check for Undivided Land of share you are getting and multiply with sqft price at that area. Some of flat may give very good FSI and you may gain lot when you give for redevelopment. If Undivided Land of share you are getting same as current permisibel limit then you cannot give to Redevelopment as builder cannot gain anything with the project.

Venugopalan, Bangalore

4th March 2013

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If you are buying an old flat then you should check out for the construction quality and regular maintenance. These 2 things greatly affects apartment block's lifespan which can be anywhere from 40 to 75 years. Thoroughly check for cracks, concrete chipping away in walls and pillars, mould, water leakage stains etc. Is it cleaned regularly, how quickly are broker pipes, lifts etc are repaired etc. For a 10 years resale flat I think you should get a discount of at least 15% compared to a current selling price of new-built apartment.

Dushyant, Bangalore

4th March 2013

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