I had received many emails asking for land prices in Belgaum and I have just compiled some estimated market value as per the Sub registrar records. There can be some typo errors and information here has to be used only for approximate valuations. This blog does not guarantee exact and correct value.
There are bound to be many areas left out but in general you can ascertain the value by looking at the surrounding area rates. If still someone needs the value kindly mail back I will try and find out and paste it here as a comment.
Karnataka Housing board (KHB) is constructing huge towers at Jakerri honda near the railway over bridge and the construction is going on full swing. It was in trouble when an RTI unearthed that the building was illegal and did not have the requisite permissions from the corporation. What has happened after that is still unknown.
Now 190 flats of 1, 2 & 3 bedrooms are being put for sale by KHB. Forms are available at the Axis bank Congress road branch.
The single bedroom flat will be of 974 sq. feet, 2 bedroom 836 sq.ft and 3 bedrooms flat will be of 1199 sq.feet.
The price fixed is Rs.1750 per sq. feet. So for a 1 bedroom flat you need about 15 lakhs.
The said building is being constructed to provide housing at affordable rates but by no means these are affordable and also that the KHB said that the building was for accommodating government staff.
1750 seems to be very high price as nearby residential areas cost anywhere between 1000 to 1500 sq. feet and this building is in very close proximity to the railway track, this could be a cause of concern.
The KHB website still does not have any information about this and advertisement for the sale of flats has appeared in news papers but I haven’t got my hand on it yet.
In this global recession the prices of land and flats have not gone down in Belgaum. I have been mentioning the same from a long time.
The prices of flats have come down but that’s attributed to the reduction in cost of raw materials and nothing else and the decrease is also not commendable.
All are doing a wait and watch policy here. People interested in buying are not yet making a decision yet. The buyers expect the prices to go down but the builders don’t.
One more notable factor I realized is that as other companies are reducing their costs on advertising the Real estate companies are increasing the spend at least in Belgaum. Huge hoardings of Queens court, Heda Builders are up in many places in the city. There are another few also I have seen like Nasco developers.
Here are a few prices of land taken from the Tarun Bharat.
Rates:
Bogarves area: 30 to 40 lakhs per Guntha
Khanapur Road: 30 to 40 lakhs per Guntha
Club Road, Civil Hospital road: 25 to 30 lakhs per Guntha
Maruti Galli: 35 to 40 lakhs per Guntha
Khade Bazar (Sanykuta Mahtarstra Chowk): 35 to 45 lakhs per Guntha
Gandhi Nagar: 4 to 5 lakhs per Guntha
Shau nagar: 5 to 6 lakhs per Guntha
Kapileshwar Colony: 7 to 9 lakhs per Guntha
Somwar peth to Shukurwar Peth: 22 to 25 lakhs per Guntha
Maratha Colony 15 lakhs per Guntha
1st gate to Chougule wadi: 10 to 11 lakhs per Guntha
Hanuman Nagar: 1000 per Sq/Feet
Vijay Nagar: 550 to 750 per Sq/Feet
Some websites of builders from Belgaum (this is not an exhaustive list)
Queenscourt- a luxurious residential Project, it is designed and created by world renowned architects, the project gives a dynamic meaning to absolute living.
At Queenscourt you will discover quality, detail, luxury and aesthetics moulded into life.
It will have a Clubhouse / Multipurpose Hall, 6 passengers – 2 lifts, Intercom facility from Main gate to Each flat, Rain water harvesting, Fire Fighting system as per NBC Norms. See more key features here
Mindspace Realty is a Joint Venture between Urban Infrastructure Venture Capital, Bhandari Infrastructure and Construction Development Private Limited & Hermes Group ( Ramesh Builders ), having its Corporate Office in Pimpri.
The Company is a perfect blend of Experience and Youth, having set out ambitious growth plans by launching Lifestyle projects to mention few, MSR QUEENSTOWN in Chinchwad, MSR OLIVE in Ambegaon, Katraj, MSR CORNICHE in Chinchwad and MSRBELLAGIO in Pimpri.
The Company shall be executing Commercial Spaces, Shopping Malls, Multiplexes, IT Parks, SEZ’s, Hotels, Hospitals, etc. in the near future.
With recession hitting India, the banks have just today announced some benefits for loans for homes below Rs.20 lakhs. The real estate industry was in a crisis and the best way to get it up is by lowering the lending rate and the requirements for a loan.
The math’s here is simple, if loans are readily available, people will buy new homes hence the real estate developers could sell their property and build a few more which will require steel, cement and other materials.
The prices of properties all over the country have come down but that is not the case with Belgaum, Infact this could be with many tier 2 cities. The price of land on average, which was about Rs.1700 per Sq/ft, has now stagnated at Rs. 1500 per Sq/ft, which is not a great fall.
The builders in past year have many problems of raw materials like high price of steel and cement. The builders think that with the loan process made easy there could be a good business at least in the short run.
The Karnataka Housing Board (KHB) is starting a new SIX floored residential apartment near the railway over bridge. This place measures about 2 acres 10 gunthas and is next to the Sagar Education. (This is the same place where fairs were being organized and even circus and food festivals) It is just next to the rail line and is visible from Congress road.
The work has just begun and the same is visible in the images. The KHB will spend about 24 cores for the project, which is being built by a Bangalore based company. The project is expected to be completed by October 2009.
In my FIR (First Investigation Report) series, I review the newly opened shops, in the same series, here’s Reliance Fresh, Khanapur Road, Belgaum.
The frontage of the Fresh outlet is big and about 5 cars can be parked in front and about 30 odd two wheelers can be accommodated in front of the outlet it self. Others will have to find place to park cars along side of the road, which is possible as there is space after the road. However, there is no security guard on duty and hence there is a huge chance of your car being trapped in between a few others, as was mine today.
Ambience, great, with the AC was on even when there was load shedding was a plus point, presentation and layout similar to other outlets. Left to right: Vegetables, fruits, grains, toiletries, cosmetics, and confectioneries.
No much discounts or offers as seen in Big Bazaar but a few were there which is company given so they are available at your next door kirarna store also. I just overheard a announcement of a Special offer of icecream.
Now to the pricing: I was amazed with the pricing of vegetables, which I really thought were not so Fresh, all vegetables.
See the image for a price comparison done on 04-11-2008. The prices were taken by me first hand at Fresh and then at the 1st Gate vegetable market. You see and decide. Only the prices of Potato and Tomatoes were less than those of Fresh prices, in all others Fresh prices were lower, in fact far lower. But to add to this the vegetables in the market were far more Fresh looking than those in Fresh outlet. Therefore, the price comparison may differ. I did not buy vegetables in Fresh outlet but bought a few at the market. Tough I spent Rs.300 at Fresh it was all Biscuits, chocolates & Cosmetics. The prices in the main market would be cheaper by about Rs.3-5 in which case those prices would be lower than those of Fresh also.
In addition, there was a variety of goods like food grains, cosmetics, blankets, towels, mats, cushion covers and of course carbonated beverages and stuff.
I was there at 6.30pm and was not so crowded as still many do not know about it. I also saw a few next-door neighbors of Fresh shop there. The 2nd outlet at Hotel Hanuman, near JNMC is also operational.
Your thoughts on this please, if anyone of you had been there your comments on the same.
Bottom line:Visit once at least, you will end up buying something that is for sure.
Sunil Mantri Realty, a Mumbai-based real estate developer, plans a housing project in Belgaum; the company is in possession of 200 acres, near the proposed Vidana Soudha, on which it plans to take up low and middle-income housing projects along with villa and apartments projects.
Westside, the Tata group based Retail giant plans to set up its store in Belgaum. A ad was published in the Tarun Bharat regarding the same. They are in look out of franchises with a capacity to invest Rs.2 crores and a suitable place on the main road with 8000 to 10000 Sq.feet area.
So any one with big pockets go in and jump into the Retail boom, if anyone reading this does jump in do let me know, I will make another post.
Golden Gate Properties of Bangalore builders of some properties like Golden Grand, Yeshwantpurwill enter into the Belgaum market. They plan to set up residential complexes in the next 18 months.
fact far lower. But to add to this the vegetables in the market were far more Fresh looking than those in Fresh outlet. Therefore, the price comparison may differ. I did not buy vegetables in Fresh outlet but bought a few at the market. Tough I spent Rs.300 at Fresh it was all Biscuits, chocolates & Cosmetics. The prices in the main market would be cheaper by about Rs.3-5 in which case those prices would be lower than those of Fresh also.
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