Recently I saw a news where Prestige is asking 1.1 Cr for a 1 BHK having same of around 600 Sq ft. Now Prestige is a big builder in Bangalore and always consider as a A grade builder. But whatever is the case, 1.1 Cr for 1 BHK is too much. Now if someone doesn't go for the Apartment, if he wants to build a house, they can easily get 3 BHK in 600 Sq ft plot in same amount.
PC: Pixabay.com
And that's why real estate in Bangalore depends on who is building it. Similarly I saw so many posts on the Reddit where if the builder is Prestige the resale value drastically increases. It is not happening with other A builder flats. It's happening mostly with the Prestige itself.
Like a 2 BHK flat which was on the 12th floor where the building is 10 years old fetched 2.3 Crore and at the same time the owner of tye ground floor is asking 2.1 Crore for the same 2 BHK. And that's happening because it's a Prestige Builder. Might be it's happening with other builders too and because of the name itself it is selling like a hot cake.
But because of this, the black money is becoming white money very rapidly. In India you can use your black money to buy the real estate, and then you can sell it with premium so that your black money totally converts it to white money. And that's how the people having a lot of black money always invest in the real estate itself. With the black money going in real estate the prices of the real estate going upwards. And that's how the real estate prices are touching sky as of now in Bangalore. And that's why it is going out of hand for most of the people.
