Durga Petals

1

Hi,

Any one has booked in Durga Petals. Has anyone done the legal check on the land area.

isnt it built on a closed laked?

 

Category: asked June 15, 2014

40 Answers

1

@amit Kumar yes. What do you want to know?

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Durga Petals only and ONLY advantage is the location. That is what they are banking on.  Here is what you should really  consider if you are looking at petals

1. The ridiculously high and exorbitant 425rs for the amenities. This implies an easy 5+L on an 2 BHK and all the way upto 8+L for a 3BHK. This is very very high and no other builder charges this anywhere around the ORR to be really honest any where in Bangalore. Check out the projects in North Bangalore, builders have super luxury amenities and the pricing no where close to what Durga is charging for Mediocre amenities they are providing.  Please note, in comparison to other projects in the ORR/ Whitefeild / Sarjaupur area the amenities look great, but compare it to properties in North ( Yelahanka , Hennur, Thanisandra) Same Builders definitely have better stuff offered in the north. The eastern part of Bangalore of lot of immigrants and hence the ‘Take them for a ride’ attitude.

2. They timeline of delivery – Durga has delayed projects in the past and Petals my guess will be no exception ! This project will complete only by June 2017 in the earliest. So all of you buying this for an investment, remember it’s a 36 months away before you can start writing the ‘R’ of Rent !!

3. Their payment schedules – They are know to be very very demanding on the timelines. They always demand the payment ( which is construction based) before the schedule. Even the sales folks will tell you, we will ask you for payment when we are 85% complete before the next stage, which means  you are paying your hard earned money well in advance. So in short whatever is the Sqft rate you are getting, you are paying marginal higher interest. Definitely a huge dis-advantage for a buyer. Also the builder will charge huge interest for so called ‘Delayed’ payments ( @12.5%) which from a buyer’s perspective is a ‘On-time’ payment ! So beware when dealing with them on this.

4. How long are you going to milk the same cow ?? The prices on Marathalli ORR has sky rocketed and reached the pinnacle. It’s only a matter of time, before the SEZ’s loose the tax breaks and hence companies move or set up new offices in other parts of Bangalore. North already has a massive lands set up for the largest IT park in south asia. If you are from bangalore or have been here for atleast the last 20 years, remember Banerghataa road as desolated space. It got crowed and the a lot of companies are ended up moving to ORR around 4 – 5 years back. ORR is getting crowed and their are only so many new companies who are coming in there.  So those of you with a plan of huge rentals returns … hmmmm .. think about it !

Having listed the negatives, let me also tell you why you should buy this project.

1. The location is the best that can ever be. Walkable to EMC, Bagmane !

2. The builder has delivered projects in the past and not really ran away/ or super delayed and played  with investors money. HM North City .. Golden gate in Yeshvathpur .. Alpine Pyramid .. I can go on and on with the list

3. Good rental returns.

Cheers

Mr. Hunt!

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hi.. I am interested in this project.. but the price is on higher side.. let me know if any one have booked flat & if there is any owners group

0

Hi,

Please share how much these guys (Durga Petals) are asking for?

Chander Pal

 

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Hi,

Can someone review Durga Petals. Rate 5250/sft.

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Booked a 3 bhk(1536 sft) on the launch date itself @5050 psft(Offer was valid only for that day itself). Awesome project with awesome price. Below are my rating for this project.

Location: 10/10

Amenities: 9/10 (I’ve reduced 1 point because there is no tennis court).

I’m confident that the builder will establish itself in the so called Tier-I builders league on the completion of this project. Quality of model flat is really good.

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Its not a great property to buy (no comment on investment). Couple of towers will be facing ORR rest are facing towards inside of the property (towards BREN Avalance). Some hospital is coming up in front of the project so it will create visual obstraction for those buyers who are looking for sprawling view or ORR from balcony of their flat. On the day of pre-launch they quoted Rs 4850/- for me but finally I declined to book. If you see, Durga’s other projects, those are good but not very good. Within 4-5 yrs, the building get cracks etc. Recently they built Durga rainbow, I urge people to go and see the interior to find the quality. Its not bad but its mediocre. So there is no point in investing 1Cr for this project. Rest is ur wish and wisdom.

Thanks,

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zI have booked a 2 BHK solely on the basis of the location, I recently visited their 2 properties and found it to be okay in terms of building stats. I believe the rental in that area would somehow compensate the EMIs, considering the 2 BHKs in that area are going @23k now ..

0

Hi,

 

I just visited Durga Petals, I like this location & layout. But I am little worried on other cost Builder is charging –

 

425 per Sq ft for infra development which is not included any Govt charges like BESCOM deposit etc..

10.8% of service charges ..usually prevailing rate is 7.09 % ..

Can anyone update is this really cost ? or just to compensate the basic low price?

 

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the VAT + ST is 10.7%. I got it verified by the lawyer.. 7.61 is VAT for underconstruction project + 3.09 is the service tax. BESCOM deposit is ususally given at the time of possession. How much did they quote for you?

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I feel the location of the project is the key. Durga seems to be improving with times.I am also concerned whether they will meet the timelines as they have delayed their previous project rainbow.Whats the current psft rate?  btw 4850 was a good rate i guess..

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But Prestige is charging 7.09% and also many builders are charging 7.09% you can get it verified with other builders. They are Quting me 5250 per Sqft for 2.5 BR. I still feel there should not be more than *% of VAT & service tax.

 

VAT cannot be 7 % as it is always 4 % in bangalore

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Do you have any govt documents to support? They sent me a govt document and show me on a piece of paper how are they calculating which i verified with the lawyer later on. Let us know if u have any supporting documents.

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I agree with them for service tax. But I am not convienced with them for VAT .. please google the VAT rule . There is no rule in Karnataka as explained by them. 14.5 % of * ( 75% of Total cost )

 

http://www.indiarealestateforums.com/news-feed-blogs/26-bangalore/244-vat-and-service-tax-on-property-under-construction

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When you are saying there is no rule as such ..can you find out whats the rule then we can confront with the Durga management. We dont have supporting document and tried hard to find one but couldnt.

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Anybody knows what are the BWSSB and BESCOM  charges?

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yes I agree that they are asking vat +St @10.7% where others are asking 9 % and they are charging 425 for amenities which is much more as compared to other good builders. It seems you can go for investment but not for your own use. For your own use, I can suggest prestige or pashima or arista in same price(durga petals)

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I visited Durga petals yesterday. The price of 3BHK seems to be very high primarly because of 425 /sqft additional charges.

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Has anybody booked in this project?

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Nice to read for tax related judgements.

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