A prospective buyer should keep the supply of water in mind as one of the key factors while buying a home. Not all areas of Bangalore receive the Cauvery water supply but some are still dependent on bore wells and water tankers as well. So if you have to buy an apartment then you should watch out the hike of water tariff across Bangalore.
The real estate market of Bangalore was said to witness a steady condition with no major changes in the values of apartments or even the rental prices which the Prop Index data for the quarter July-September 2014 also suggests. The Prop Index data also suggests that there have been a drop in rental prices in majority of areas. With this scenario in mind the Water Supply and Sewage Board of Bangalore announced the revised rates of water tariff from Rs. 6 per kiloliter to Rs. 7 per kiloliter and the maximum slab for domestic sector was increased from Rs. 36/ kl to Rs.45/ kl. In the commercial and non-domestic sector the tariff was revised from Rs. 36 and Rs. 60 per kiloliter to Rs. 50 and Rs. 87 / kl in the minimum and maximum slabs respectively.
Few aspects are there that a buyer needs to be aware of before buying a property after the water tariff hike. We discuss those below.
The real estate market of Bangalore was said to witness a steady condition with no major changes in the values of apartments or even the rental prices which the Prop Index data for the quarter July-September 2014 also suggests. The Prop Index data also suggests that there have been a drop in rental prices in majority of areas. With this scenario in mind the Water Supply and Sewage Board of Bangalore announced the revised rates of water tariff from Rs. 6 per kiloliter to Rs. 7 per kiloliter and the maximum slab for domestic sector was increased from Rs. 36/ kl to Rs.45/ kl. In the commercial and non-domestic sector the tariff was revised from Rs. 36 and Rs. 60 per kiloliter to Rs. 50 and Rs. 87 / kl in the minimum and maximum slabs respectively.
Few aspects are there that a buyer needs to be aware of before buying a property after the water tariff hike. We discuss those below.
What does the market say?
Brokers from Marathahalli says the area is totally dependent on the supply of water from tankers and the price normally increases in summers which certainly adds to the resident’s maintenance costs of staying in the area. In complexes where the management of the apartments are done by the developers, they end up charging more from the residents.
Even the areas that are dependent on bore wells the water supply is also scanty owing to the depletion of water table, opines residents of many places. The brokers and real estate agents opine that areas like K.R.Puram, Yehallanka, Madhavapura, Bommanahalli, Kengeri, RR Nagar, Byatarayanapura and Dasarahalli does get the Cauvery water supply. The people staying in these areas may be privileged with ample water supply but may have to pay more maintenance charges.
The rental properties of these places have increased as well with the landlord paying more water charges, they have increased the rents too.
What you need to check while buying an apartment?
The real estate veterans advise that one needs to check that there is a water meter attached to every apartment which keeps a track of the water used by every apartment. In case there are no separate water meters and the water expenses are divided equally then one may end up paying more even after using less of water. The experienced people of the markets feel that due to higher maintenance charges one may have to pay lesser capital costs but may end up paying more in the long run as a recurring expenditure. So it is always advisable to measure the pros and cons and check the conditions and utilities of the apartment before deciding to buy or rent an apartment.
Brokers from Marathahalli says the area is totally dependent on the supply of water from tankers and the price normally increases in summers which certainly adds to the resident’s maintenance costs of staying in the area. In complexes where the management of the apartments are done by the developers, they end up charging more from the residents.
Even the areas that are dependent on bore wells the water supply is also scanty owing to the depletion of water table, opines residents of many places. The brokers and real estate agents opine that areas like K.R.Puram, Yehallanka, Madhavapura, Bommanahalli, Kengeri, RR Nagar, Byatarayanapura and Dasarahalli does get the Cauvery water supply. The people staying in these areas may be privileged with ample water supply but may have to pay more maintenance charges.
The rental properties of these places have increased as well with the landlord paying more water charges, they have increased the rents too.
What you need to check while buying an apartment?
The real estate veterans advise that one needs to check that there is a water meter attached to every apartment which keeps a track of the water used by every apartment. In case there are no separate water meters and the water expenses are divided equally then one may end up paying more even after using less of water. The experienced people of the markets feel that due to higher maintenance charges one may have to pay lesser capital costs but may end up paying more in the long run as a recurring expenditure. So it is always advisable to measure the pros and cons and check the conditions and utilities of the apartment before deciding to buy or rent an apartment.
0 Comment "Check out for maintenance fees which are on the rise."
Post a Comment