Wednesday, November 15, 2006

Why not to choose Bangalore

Before the 'why not to', let me briefly say why we chose Bangalore. Actually, there really wasn't a choice. Being from Bangalore, having family and property here, and with all the job opportunities here, we wouldn't have moved back to any other city in India.

However
, if we didn't have family here, we may have thought long about moving to Bangalore. Simply because it is unnecessarily expensive and very very clogged. Going anywhere in the city is such a task! The roads are clogged almost all the time of the week. Just a few wee hours and a few hours on Sunday is all the break you get from the bumper-to-bumper chaotic traffic.

The real estate is a whole different story. The prices go up every day!! A 3 bedroom apartment will cost you about 60+ (everything inclusive, not just the basic cost) lakhs today to buy, if its cost was about 50+ lakhs 6 months ago!!! Unbelievable! and the typical finishes given are just vitrified tiles and flush doors! I was told by some property developers that there are two reasons for the prices to be soaring high:
  1. The government put a clamp on converting agricultural lands. So, the land that is already available is all there is for development.
  2. Apparently, a lot of Mumbai based developers/business people are investing in properties in and around Bangalore, solely for the sake of investment. So, there is an artificial demand of sorts that is hiking the price.
The 60+ lakhs properties are pretty much from the tier 2 developers. If you want quality 3 bedroom apartments from tier 1 developers like Adarsh, Sobha , Total-environment, Prestige, you will not get one for less than 75 lakhs (everything inclusive, not just the basic cost). The prices go upto as much as 1 crore+ for 3 bedroom apartments, depending on the floor number, luxury/super luxury, size of the apartment etc. Now, isn't that atrocious by all standards? And since there really is no land for mass development within city limits, all these developments are happening on the city periphery. So, please also account for the commute to and from work if you reside in these places.

All this said, there isn't much logic trying to set up a place here from scratch if you have no family or property here. Personally, I don't see the point. Yes, the job opportunities, and the weather are pretty good. But, the traffic, real estate prices, lack of immediate family, school costs (another post) are all huge deterrents for non-Bangaloreans trying to re-locate to Bangalore from elsewhere.

PS: If you are reading this and want any kind of additional info, pl let me know.

42 comments:

Balakumar said...

Right now, I would recommend building your own home or waiting for the lauch of a new contruction from the Brigades, Shobhas...

Pricing on new launches is significantly less. Within the first 6 months, prices go up at least 25%. So it would be a good investment. The only problem is the wait time for them to hand over the home to you!

As for building your own home, you should be able to get good-sized lands on the outer edges of JP.Nagar, etc. Prices are relatively low. And double in about 2 years. Building costs are also low. So you should be able to get a decent home for about 30lacs.

Ms Ch said...

Land prices are atrocious. Anywhere within reasonable city limits, the prices are 4000/-+ per sq ft. The apartment prices I have quoted are pretty much the current launch prices. Most are quoted between 3000/- to 4000/- per sq ft.

We do have a property, so it is alright for us. And when I talk about non-Bangaloreans, I don't even mean from the point of view of affordability, I am just talking about worth. You get grander properties in some parts of US for the same money. :) And with the infrastructure and the chaos that Bangalore has to offer, the prices are not worth it.

Balakumar said...

The problem with Bangalore is that it is not well planned. It is too cramped for its growing population.

Try JPNagar outskirts. These will soon be reasonable city limits given the pace of growth and development. Land prices are still in the 1500s. You may get lucky! :)

Ms Ch said...

I will try that area, primarily for investment. Lets see.

Oh and BTW, I have not considered Brigade in the Tier 1 category. They really don't measure up like the others (Adarsh, Sobha , Total-environment, Prestige). So, that would make Brigae tier 2. Total-environment is mind-blowing!

Horn Please!! said...

Agreed, TE are amazing builders, and we love the flat we bought. Pity that a change in life-plans means we have to sell it. But that's life, i guess.

Chitra said...

Horn Please!! Welcome to my blog. I am sorry you have to sell your apartment. All the best with the changes!

ARDONIEL said...

Hey, anyone selling a Total environment flat? I'm looking to buy one, esp in the indiranagar area....

Anonymous said...

I am Shibnath from Birbhum district ,West Bengal,temporarily living in Montreal, Usually read your blog and fall in love with Bangalore and like to setttle there,I am not a reach person but like to give good education to my children, My daughter 16 years and reading in french medium in secondary 3 level ,would she get admission in any school any time? and may I find some appartment on rent arround 8- 9thousand Rs per month? Chitra I appreciate for all the information in your blog . eagerly waiting for your reply.My Email add -shibnathrph@yahoo.ca
Thanks a lot

Chitra said...

Shibnath, welcome to my blog. Thanks for the wonderful compliment - 'Usually read your blog and fall in love with Bangalore'!

I am not aware of any French medium regular schools here. If your daughter is already 16 and has been studying in French medium, I don't think it would be fair on her to make a move at this stage in life, especially since you seem to give a lot of importance to their education.

You will find accomodation for the sum you've mentioned. Though I am afraid, it is going to be slightly modest. These days, for a good 3 bedroom apartment, it will cost you about Rs. 20-25 thousand.

I am not sure if my answers helped you, but this is what I think. Please feel free to email me for more info.

Anonymous said...

"These days, for a good 3 bedroom apartment, it will cost you about Rs. 20-25 thousand."

i trust you are talking about the posh locales, right? i cannot imagine school teachers being able to afford that kind of rents (even 8-9000 per month), and i doubt whether they would have their own houses! or maybe they can, i don't know how much their typical salaries are nowadays!

- s.b.

Chitra said...

SB< like I said, "You will find accomodation for the sum you've mentioned. Though I am afraid, it is going to be slightly modest." I meant the 'good 3 bedroom apartment costing about Rs. 20-25 thousand', from a returning Indian's POV.

Bangalore rental and real estate prices are sky high. The cost of living is very high too. The common laborer finds accomodation even for abbout Rs. 1000-2000/-, but these are very basic providing just the required amount of facilities. If it is a regular 3-bedroom house, the price tends to be above Rs. 10000/- in a general neighborhood a little far from the city's center, and around Rs. 20000 in a good neighborhood. But the minute you have some ammenities in the apartment complex like a pool, bit of a garden, children's play area etc it is above Rs. 20000/- even in a regular neighborhood.

Anonymous said...

You may find goood independent houses in gated commnity near Sarjapur Rd for 10,000 to 12,000

vishal (seattle) said...

Any one selling a total environment 3 or 4 BHK apartment at indiranagar - please let me know

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Anonymous said...

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Pros: Nothing Except that they are very good at FALSE promises

Cons: Almost everything. Delivery is Pathetic.Please book at your own Risk

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They would sit on your money and would expect you to bear with them on all the occasions.For adarsh Retreat Tower-2 they have made me wait for almost 5+ years and there is no sign of completion/handover.

Pros: Nothing Except that they are very good at FALSE promises

Cons: Almost everything. Delivery is Pathetic.Please book at your own Risk

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