Vmaks Rangoli Multistorey Apartments for sale in Electronic City, Bangalore available with 2BHK Apartments and 3BHK Apartments.
Description:
VMAKS BUILDERS PVT.LTD. is a leading land developers and construction company. Dedicated to develop properties that bring assured appreciating value. Passionate about quality, we at VMAKS BUILDERS PVT.LTD. believe in giving our customers the kind of living spaces that we would like to live in ourselves. It shall be an assured appreciation of the asset in case you plan a prudent investment too.
Chennai has always been considered as a good resale market
for residential properties. Good value for money, ready-to-occupy status and
locational advantage has always attracted buyers to second-hand flats. This trend
has been on the rise in recent times. This trend has also brought to light the
various issues that come with buying them.
A few weeks ago a resale apartment fair was held by HDFC Ltd.
The response to this resale initiative was very good and more than a thousandproperties were on resale and it is reported that the realtors associated with
them are busy closing the deals.
In the present market conditions, many buyers do not want to
wait for construction of the house. So HDFC brought together the realtors concerned
and facilitated the resale by providing loan facilities.
Most of the buyers wanted property in the city limits in the
price range of Rs 50 - 70 lakhs. But properties available for resale in the citylimits are in the range of Rs 1.25 to Rs 2 crores. The market slowdown has made
the task of finding clients for new and upcoming apartments more difficult for
many banks.
Tapping the potential for resale of property has become a
necessity for the banks and buyers may be able to gain from the development. The
merits of buying a house on resale include lesser price and location within
city limits.
The demerits of buying such houses are possible deviation
from the approved plan, internal problems among the members of the residents' association,
including legal proceedings and absence of opportunity for the buyer to assess
the quality of construction.
Technical valuation of a property on resale normally calculates
depreciation at 1.5 per cent per year. Around 75 per cent of properties on
resale are 'delinquency flats'.
The registration charges are higher for resale apartments as
it is decided on the guidelines value of the total property whereas in a new
apartment, the charge is arrived at only based on the undivided share of land.
However there were no delinquency flats among the property
on resale during the recent initiative of HDFC. Brokers continue to say that the
market is favouring the buyers.
As market prices of new flats are gradually reducing, priceof resale flats should also follow suit soon. Buyers analyze the aspects such as
location, quality of construction and track record of the builder in the process
of resale. The Buyers not showing interest in properties on resale in outlaying
areas.
Many properties on resale belong to speculators who invested
in the property a few years ago and planned to sell the property at a higher
price soon after the construction got over. They wanted to sell the property as
quickly as possible fearing a reduction in the prices. With rentals notincreasing to match the EMI, speculators are finding it difficult to maintainthe property.
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