Recently bangalore newspaper is seeing huge ad war between realty developers and builders. There is sudden spurt in these full page advertisements. Each developer is praising the location and benefits of their property.
There are many homes available sub 30 lacs and sub 20 lacs.
Government is also promoting affordable housing and now have recently announced subsidy of 1% for sub 20 lac homes for a loan of 10 lacs for the first year.
These properties are also good for PSU and other government employees.
Here are few projects which are in affordable range and can give investors substantial return in longer run and also good for people who want to move into their Dream Home.
Ozone Group
Evergreens is located off Sarjapur road near to kormangala and marathalli ring road. Price range is 20lacs to 30lacs for 2 to 3 BHK with size between 900 - 1200 sq.ft
Build on 10 acres of Land.
Orange Group
Orange Township- as you drive just few minutes away from Devnahalli International Airport will leave you fascinated.
Purvankara Group
This group has launched provident housing Welworth city in Yehalanka doddebellapur main road on 40 acres land. Prices are between 14.9 to 20.0 lacs for 845(2BHK) to 1180(3BHK).
Confident Group
Confident Atik is on Sarjapur Road offers 2 and 3 BHK houses. Has flats from 774 ft to 909 ft with prices between 13.5 to 16 lacs.
Location has international schools other housing projects and infosys has also bought 400 acres of land.
Sowparnika Projects
Situated at the most coveted location on Sarjapur Road, 9 km from Wipro corporate office and other MNC’s. Sowparnika Ananda follows Sowparnika’s well trodden path of providing quality that’s now accessible to all. There are 140 2 bed room and 12 3 bedrooom apartments
Golden Gate Properties
The Commune project has 2500 world class living space with prices starting from 19 lacs and is built over 30 acres. It is 3.5 kms from Mysore road near banshankari metro station.
Please share if you have some more properties to add so that readers could benefit.
Saturday, August 1, 2009
Affordable housing in Bangalore
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41 comments:
Hi all,
I appreciate your efforts in identifying the correct affordable home deatils .afetr contacting all of the mentioned developers,i found Sowparnika projects the real affordable housing project.I have finalized for a property thr.
Regards,
vijay
Hi,
I have booked one in purvankara at the yelhanka-doddabellapur main road.
Please let me know your valuable views..
Purvankara is good value buy. It is good for investment and appreciation over the years but for living I think it is too far from all the places we regularly visit like schools offices and entertainment.
Hi
I would like to know from vijay that how many BHK have you booked and at wat rate??
Sowparnika dont seem to have email id for contact so can you tell me the mail id of their marketing head???
Are the flats still available??
Regards
Ashish
Hello Ashish,
Here is the email-id if you want to contact..
muneer@sowparnikaprojects.in devaiah@sowparnikaprojects.in
Hi
Thanx for email id i have contacted them.
But can you tell how much is the rate /sqft they are offering?
Is it a decent size house for staying (carpet area) or it is just good for investment purpose?
I am looking to invest nearby outer ring road or sarjapur road as yellahanka n other project seem far off.I am also looking for confident atik.
regards
Ashish
They are charging 1530 per sqft. the houses including registration comes below 20 lacs. Seems to be good for investment purpose. Confident attik is also nearby this project. Sarjapur has lot of projects coming up. Can be next hotstop.
Hi
I was analysing the floor plans of confident and sowparnika apartments but the sqft is very less and so the room sizes and balcony sizes(ozone does not even have a balcony)are very small.
Will i be able to get tenants also if the house is so small??
I think that such small houses would not be worth staying as if we put a double bed in a room so moving around space is too less and house looks cramped up.
I am totally confused.Should i invest in more sqft or go in for these projects for investment purpose.Now that flats are not available how can i buy it??
where can i find resale information?
Thanx
The concept of affordable housing is based on making apartments on land which is currently cheap and underdeveloped, have smaller carpet area and reduce frills like balconies etc. To have cheaper house you have to compromise on one or the other thing.
If one want he/she can get balcony by paying extra. I have discussed with Ozone Evergreens and they said they can add balcony if you want. They have removed balcony to reduce the price.
You can get tenant if the rent is less basically demand supply and affordability.
there are lot of sites which will give you resale information.
magicbricks is one of the.
Hi
Have u explored any of the proects like confident Atik,Ozone evergreens,Sowparnika??
Out of these 3 which one is more suitable acording to location,price,sqft etc.??
Sometimes these buiders take money n linger on the construction so what are the deals they offering like
eg:when 1st floor is constructed then pay certain amt??
or like
eg: pay certain amt after 3 mths or 6 mths?
construction is not in our hands so these builders try to fool the customer and take money not giving possession on time.
Thanx
Yes I have sent mails to these various developers and they have given the brochure and payment schedule.
All of them have payment time frames on commencement or completion of certain milestones like completion of basement, floor 3, floor 7 etc.
As far as the schedule is concern these builders are known names and have multiple projects going on in the city.
Since the payment schedule is based on completion of certain task you can be assured that they will try to complete asap to get the remaining money.
Having said that no one can guarantee that delay wont happen.
You should go for ready to occupy /fully completed projects so that these concerns are addressed.
Hi
Thanx for the reply.
But which one is a gud choice from 3 options...Atik,Ozone,Sowparnika?
How will i get cheap affordable flats ready to occupy?I have to wait for the completion of these projects for that.
Thanx
Yes that's true. All these projects have just started and will take around 15-18 months to complete.
Another catch-22 with cheap housing is that these house are cheap till they are not developed. Once the project is complete and its ready to own the price becomes expensive because there is no wait time so there is premium attached to it. You dont have to pay the rent and emi together you can just pay emi and start living in a ready to move apartment.
hi mahitosh,
i liked the evergreens project except for balcony. its location is really excellent. when did u check with them about balcony? is it legal to deviate the plan? if they can provide balcony that would be an ideal choice
Vasu
Sowparnika Ananda:
I have visited Sowparnika Ananda site.
I have seen the model flat . It looked fine and also overall it seems a decent project and the price they are offering is also very attractive(Approx 1850/- sq ft all inclusive).
There are a couple of other projects on the way (Kristal, Confident, Trinity) and few of them are already occupied.
The project might be very good future investment. But whether we can really stay there from next year (when project is getting completed) can be debatable. Its around 10-12 Kms after Wipro corporate office and most of the basic urban necessities (Shopping malls :-) ) are atleast 10 Km away from the site at present. The full stretch from Wipro corporate office till this site is almost empty right now but surely it has huge potential to grow.How long it will take .... that's a big question?
Hi
I have heard that Nitesh hyde park on banerghatta road is also being launched for affordable housing.
Ozone has allowed inclusion of balcony?then what will be the xtra cost??
are these flats decent size as i hav not seen any model flats.
Thanx
I've booked a flat in Sowparnika Ananda, sarjapur rd. The model flat looks great and most of the flats here have individual walls facing park/garden. I guess there's some ~7-8 ft between each flats. The foundations are done, so expecting a speedy handover..lets see..
Dear Mahitosh & Arvind,
I am planning to book a flat in Sowparnika Ananda. As I am currently in abroad, I am unable gather all the information on the project. Hence feeling not confident enough to go ahead. Could you please help me out by sharing the information you have with me? May I request your contact number so that I would discuss with you personally?
Regards,
Ram
Vasu :-
They told this in a property mela, I forgot to ask about the extra price but it should be according to prevailing rate per sqft.
Anonymous :-
Sarjapur properties are cheaper because currently it is underdeveloped. It will take time to develop. Normally when investor interest is low and potential is huge that makes it good for investment purpose and getting good returns.
Government of Karnataka has recently approved conversion of forest land for 400 acre infosys campus-II coming in sarjapur. Once infosys campus comes....requirement for homes, shops,schools bus stand everything will come, then their will be tremendous growth
Arvind:-
Thanks for your valuable info on the latest about the project.
Ram:-
You can get more details, floor plans and prices by sending mails to them @
muneer@sowparnikaprojects.in devaiah@sowparnikaprojects.in
Hi all
Please check on all the legalities before booking any of these properties.Recently my friend was about to book a flat in confident atik but he went to a lawyer for registration etc. and then he came to know that this property is illegal.People please chek on the legal issues of these builders.When Mantri can be involved in a legal issue(Magnolia episode) then whom to trust??
This is your hard earned money so watch out where you invest.
Regards
Alpine Eco in doddenakundi is also facing legal issues because of fight going on between landowners
Hi Anonymous,
Please confirm me: If a project is approved by banks like ICICI, HDFC, Axis bank, does that mean the property titles are correct and legal? Or do we need to verify even the project is approved by leading banks and loans are being disbersed?
Regards,
Ram
It is better to verify with a lawyer. There are properties where loans are available but litigation is also going on.
Hi
Can anyone tell about projects which are giving ready to move in flats 2BHK or 3BHK on sarjapur road or outer ring road??
Size and prize has to be decent.Do not want to invest more than 35-40 lakhs.
thanx
Has anyone invested in Provident welworth city. Just curious to know ppls view on this project.
Hi Aravind,
Congrats ! good that you have booked at Sowparnika Ananda. I have visited the place today for me too it looks great. Have you checked with a Lawyer for legal checks. Please give your contact number to my mail id : rajkumar.apc@gmail.com so that we will discuss further.
Hi all,
I would like to discuss with those all already booked a flat with Sowparnika Ananda as of now so please mail me your contact number to my ID.
Many Thanks,
Raj
Hi,
I have looked at Confident Atik and Sowparnika Ananda. I feel Ananda is better value for money, since their flats offer more area than Atik for almost the same price. But I was wondering if it is prudent to put money in either of the two projects from purely an investment point of view with a long-term perspective (at least 5 years)?
Hi all,
I hav booked a flat in sowparnika ananda… can all the ppl who bought in sowparnika ananda form a group for discussing on the recent developments in the project. If interested, Plz join http://www.orkut.com/Main#Community?cmm=96444456
on orkut.
-Chaitanya M
sowparnika builders are ok, not so great. They are slow in delivering. Go to sowparnika Thulasi, whitefield and enquire about the builder in their owner's association. They can give you many complaints.
any idea abt the purvankara - provident welworth city coming up in doddaballapur road.
Need to know abt the builder and the location for investment point of view.
Thanks
Ashky
HI GUYS,
I WANT TO LET YOU KNOW MY WORST EXPERIENCE WITH GOLDEN GATE BUILDER WITH COMMUNE PROJET.
I HAVE BOOKED THE FLAT IN COMMUNE.
BBMP HAS NOT APPROVED THE COMMUNE PROJECT AT ALL. I PERSONALLY WENT TO BBMP OFFICE AND ASK ABOUT THE APPROVALS.
THEY SAID, PROJECT HAS NOT YET APPROVED.
I AM SURE, IF THE APPROVAL HAS NOT BEEN DONE FOR THE PAST ONE YEAR. THEN DEFINATELY THE PROJECT IS GOING TO SCRAP.
I AM NOT SURE HOW MANY GUYS ARE IN THE SAME TRAP, WHO HAS BOOKED THE SAME FLAT WITH COMMUNE PROJECT.
IF ANYBODY IN THE SAME BOAT, PLEASE SEND A MAIL TO ME. SO THAT
WE CAN SORT OUT THIS ISSUE. JOINTLY.
my mail id is : itsme2210@gmail.com
Hi,
Thanks to the blog owner for a good compilation of flats.
I'm planning to buy a flat at Sowparnika Ananda. Could someone tell me what approval does the project have (BDA/BMRDA/BBMP, etc)? Also, are you happy with the progress of the project?
Thanks much.
Hi,
I am also planning to buy a flat at Sowparnika Ananda; but I am currently out of India. Can someone please share his/her experience on the project? You can share your views by sending email too.
Regards,
Sanjay
the project approval is from BMRDA
Guys,
Please explain me what are all the benefits of ready to move in flats over under construction ones?
Real estate is one of the best businesses now a day. Nice real estate blog. Thanks
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