2 BHK Flat In Soul Space For Sale In Margondanahalli

Hi I relocated to Chennai at the start of Corona and have used this flat sparingly(only around 2 weeks every 3 months). Only my belongings are there now.Hence, selling this flat. Very important to note : *This is NOT a Luxury flat. This flat is suitable for a middle class or lower middle class family.* Kindly read the notes below thoroughly before proceeding further. I have tried to give you all information you, as a buyer, would need to know for buying this property. I am NOT a builder. I bought one of the 15 flats from builder and registered this flat in my name in June 202 Details of the flat is as below : Apartment name : Soul space. Total 12 flats built on (Ground + 5) floors. Location : Margondonahalli Vinayaka layout & behind Hanuman temple Flat no : 2nd Floor , East facing Total Plot area : 2100 Sq ft. 2 bedroom , 2 bathroom, 2 balconies. One balcony view facing a lake. Super built up area : 832 Sq ft Carpet area might be around 600 sq ft UDS : 180 sq ft katha type : E-Katha (Panchayat limits) Ground floor is entirely for car and bike parking. Each floor has One 2 bhk flat & Two 1 bhk flats (Total 3 flats in each floor x 5 floors ). My flat is entitled to 1 Car park slot and 1 bike parking slot. Bore water is available. Government Guideline value has been recently revised in this area and should be around 28 Lakh - 30 Lakh Landmarks nearby : School : New Baldwin School : 600 metres Oceanus Tranquil Apartment : 700 metres KR Puram Railway station : 7.8 kms Hoodi Metro Station : 11 Kms ITPL - Whitefield : 13 Kms Byappanahalli Metro station : 9.6 Kms Expected Sale price : Rs. 35.5 Lakh (Negotiable because of reasons below) Flat is registered in my name in June 202. You will be the second owner as it a Re-Sale. All flats have been occupied. Maintenance fee currently charged by residents is approx Rs.**********/mo 1 BHKs opposite my flat has been let out for Rs.1,000/mo rent. With the above data, I expect that this flat would fetch minimum Rs. 13K - 15K/mo in rental revenue. Very important to note : *This is NOT a Luxury flat. This flat is suitable for a middle class or lower middle class family.* Plot is within Panchayat Limits. So, approval is from Margondonahalli panchayat only. Approach road is not properly laid out. However, shops are available in the vicinity. Approval from BDA or BBMP is not applicable for this flat as this area is still NOT under BBMP / BDA limits. Hence, prices of flats in this area is less compared to adjacent areas.It is widely believed that Margondonahalli village will be merged into BBMP/BDA limits within 1-2 years. Significant price/value appreciation is expected once this area comes under BBMP limits. What is *NOT* available or pending : Flat is Unfurnished. There is NO Swimming pool, jogging area and community Hall. - Building is running on commercial electricity. Builder has received EB Sanction letter to convert it into domestic Bescom connection. But, he is not willing to pay heavy bribe for procuring transformer and laying underground cable work till apartment.Estimation from Bescom contractor for ********* work : 15 lakhs. Lift cannot be installed with commercial EB connection. For transfer of Commercial Electricity to Domestic electricity, Builder is asking residents to share burden of procuring materials for getting domestic bescom connection. Till he gets consent from all flat owners, builder is paying Bescom bill for the entire apartment(including common area). Each flat owner is expected to contribute Rs.2 Lakh toward Bescom connection & installing Lift towards their share. I and few other residents are ready to pay my share of approx Rs.2 Lakh for domestic Bescom connection and Lift work. Around 2 - 4 flat owners have expressed difficulty in arranging their respective share of finance of Rs.2 Lakh(approx) per flat Discussions are on between those few flat owners to convince and get them to agree on a time frame & contribute for individual contribution. The above stated work ( converting commercial to domestic eB and installing lift) will take 6 - 9 months. This is the reason why I have priced this flat at a discounted rate of Rs.35.5 Lakhs. Property is eligible for loan from Scheduled Tier 2 banks. Builder has helped existing occupants to get home loan from scheduled banks. So, bank loans are available depending on your credit score. Flat is absolutely legal. My wife is a practicing lawyer at Kerala In case you are interested to view the property personally, please let me know atleast 2-3 days in advance so as to plan my travel and show you the flat or have someone else to show you the flat on my behalf Get a two bedroom in Margondanahalli for sale at a very reasonable price, and without brokerage. Situated on the 2nd floor this home can comfortably serve your car parking needs. This East facing home is over 832 sqft. & is in a convenient location. You are viewing the right home if you would prefer a house with parking for visitors. Being situated near Asha Nursing Home, NephroPlus Dialysis Center at Ramamurthy Nagar, Bengaluru and Sri Sai Eye Hospital, emergency care is very easily available at any time. If you have kids at home, the closest school is Jubilee School & is worth checking out. Public transport, fuel & groceries are easy to find near this home as bus stop, petrol pump,super market are very close. As Sri Krishna Theater, Shree Krishna Theatre & Sri Venkateswara digital cinema are in close proximity to this house, you can catch the latest movies at any time. If you are looking for gifts, or just want to spoil yourself, Mug Printing, Lorven Leo and Aditya Milk have a wide variety of things that you can choose from.