Tuesday, June 16, 2009

What real estate slump?

I have been calling various real estate developers and private sellers over the past few days to get an idea of the real estate market. Here are some of the quotations that I got

Mantri Espana : A super-duper-ultra-luxurious-out-of-this-world-exclusive apartment complex off the ORR with 5 swimming pools, 9 hole mini golf and flats ranging from 2600 to 100000 sq ft. The prices start at 1.2 crores. I said thank you very much and left.

Mantri Flora: At the junction of ORR and Sarjapur Road, 3 bhk apartments for second sale at around 75 lakhs for 1700 sq ft. This works out to over 4000 per sq ft

Sobha : They had an ad for a 3 bhk @ 50 lakhs. This is for their project on Kanakpura Road. For their projects in this part of town, they have a super luxury project starting at over 1.2 cr. Their luxury projects are “only” 77 lakhs for a 3 BHK

Ozone Evergreens@Haralur Road: Touted as the first “affordable” housing complex in Bangalore, this has a 900 sq ft 2 BHK for 28 lakhs all inclusive. This works out to around 3000 per sq ft. Unbelievably, as the sales woman told me, these don’t feature a balcony as they are “affordable housing”.

SJR Eastwood@Haralur Road: A person was selling a 40x80 plot @2800 per sq feet.

Ferns Habitat@ORR: A 2800 sqft plot quoting at 3300 per sq feet

Lakedew Residency@Haralur Road: A 1500 sqft plot quoting at 2600 per sq ft

I didn't pursue any of these opportunities. If these are the prices post the real estate slump, I am stunned.

1 comment:

Sanjeev Kumar said...

I would rather buy a condo in Manhattan!