Nitesh Cape Cod
[suffusion-widgets id=”3″]Nitesh Estates launched Nitesh Cape Cod a residential apartment project located at Bellandur Village, Outer Ring Road. The project is spread across 4+ acres and will consist of 8 blocks of apartments with G + 13 floors.
Nitesh Cape Cod Options
- 2 Bedroom, Area: 1260 sqft – 1340sqft; 76 numbers
- 3 Bedroom, Area: 1685 sqft – 1785 sqft; 304 numbers
- 4 Bedroom, 2025 sqft – 2385 sqft; 37 numbers
Nitesh Cape Cod Location
Near Bellandur Junction on Marathahalli – Sarjapur Ring Road
Nitesh Cape Cod Price
Priced at Rs.3950/- per sft. Being revised to 4250/- shortly.
Nitesh Cape Cod Concerns
- Approvals are still under process and may take time
- Price revised from 3950 to 4250 within a span of 1 week
- Share with me your concern
Nitesh Cape Cod Investment Plus Points
- Located close to Outer Ring Road, Good connectivity to companies in ORR as well as ITPL
- Nitesh brand name
- Share with me why you think this project is a good investment
Take the poll – Is Nitesh Cape Cod a good investment?
Nitesh Cape Cod – Site Pictures
Nitesh Cape Cod – Buyers Group
Are you really serious about buying a apartment in this project, then why not join the Buyer’s Group. It’s a well known fact that approaching a builder as a group has its benefits, who knows you may get a good discount. Of course if you are only planning or undecided then you should leave a comment here or check out the forum.
[suffusion-widgets id=”3″]
I was looking at buying a 3 bhk penthouse in Nitesh.
However I am concerned about the delivery date. The builder told me Dec 2015 a month back, but I doubt that.
Can any of the owners please share what the latest delivery date is?
They have meeting with flat owners on Saturday at NCC site come and check their responses and decide!
The new date is DEC 2016 as per the new agreements!!
i do not want to purchase anything from nitesh after going thru the reviews..
I am interested for 3500 + Registration for 3BHK . Anyone from nitesh estates willing to sell please mail me..would like to close the deal
Reason for 3500 sq.ft
1. Lots of unsold aparts available in bangalore
2. We expect minimum 4-5 yrs delay
@sree Why not for free dear?! This shows your ignorance about real estate or you want to make fun of those people who have invested their lifetime hard earned money in this project!
@Raj Sharma
>>> make fun of those people who have invested their lifetime hard earned money in this project!
People who put their LIFETIME earning to play Real Estate speculation game are at best GAMBLERS, and they should not cry hoarse when on losing. After all it’s a gamble. Play it with the spirit of the game.
However, using LIFETIME earning to have a house and LIVE in it is pretty much acceptable.
@raj..I am not making fun of you..If you are an investor then i cant help. I am an end user
and ready to close the deal and move in to the apartment
We can only pay for the offerings that you are giving..i was not quoting the facts that there are more than 1 million houses unsold..if you really wanted to sell for 3500 rs..then we can start the negotiation..else you can wait for 10000 rs//sqft an above..
the choice is yours ..
@manjusree
Stop pocking your nose in each and every issues discussed in this site!
It’s your habit for sure! I have never seen any positive comment from your end for any project so to me you are pessimistic gal
@sree
I am not investor
When the builder himself selling it at 5750 then how can you ask for a price which no where exist forget about for this premium project !
To me it’s like you want to buy BMW but want to pay Maruti price!!!
Lol
Cheers! ????????????????????
@Raj Sharma
Thanks for reading my posts.
Just wondering, if you are not an investor, why are you so concerned about the prices at which flats in your project are selling? You don’t plan to sell your property in short term… do you?
As I have already discussed on this forum, for end- users, any increase in price is virtual.
Read my related post here:
http://harshasagar.com/2014/02/17/godrej-whitefield-road/comment-page-1/#comment-28599
I have already explained it several times: For end-uses, if they can afford to, they should not stop themselves from buying property even at the current prices. More than money, there are emotional issues. In the same breadth, they should not regret if the property prices come down in the near future. After all, they are not going to sell their property they call their HOME.
>>>>>>Cheers! ????????????????????
I understand there are many question marks on the current RE prices. But, why so many questions marks on your “Cheers”?
@Raj Sharma
If you donot like the offer, say that. You need not try to be sarcastic and make yourself a fool.
If builder has right to quote as he like and delay as he like, buyer doesn’t get to say anything?
This is open forum and everyone has right to share their opinion, you can point the lies in a comment. There is nothing wrong in being pessimistic, either you are always right or end up with good result.
People try to be pessimistic when they are investing 1Cr.
And about your example of BMW, Nitesh is not even like maruti. Maruti is most respected brand in India. Do not degrade Maruti brand value. And you cannot say nitesh is BMW. Coz BMW never delays 4 years to deliver product.
dude ..pls check in common floor.com the price the investors are quoting..its 5250..
this site is not maintained by me..you can check in other websites too..that too negotiable.
I will be v.happy if you get more that that..anyway its not my money..i was just telling the facts ..that is all
good luck and all the best
Appreciate his/her efforts in bringing out negative aspects of the project.
For positives, builders and investors are there to boast about.
nopes, it is like builders are selling Maruti at BMW’s price!! howzaatt!!
hmmm!
What an unity?!
Relax guys no need to bombarding with your comments yaar! Sree must have been reasonable when he asks for that kind of price!
I mean common! Tell me in that prime bellendur area who is offering this kind of rate! Not even c category builder
would offer this kind of rate
He can’t demean any project just like this!
Btw manjusree thanks for reply appreciate your knowledge but don’t you think you always share dark side of this world !
I am sure you must be having some positive aspects of real estate world !
Life is short why so negative be positive !
🙂
Cheers!
Hi Raj, getting positive views is very easy, call any sales person, infact give a missed call to any sales person…you end up listening to fake promises and fake nice things for rest of your life.
It is not about positive or negative, people are trying to give real picture to end users based on their experiences.
Don’t you think these prices are unreasonably inflated for no apparent reason?
Try to see positive side of every comment. No one says negative comments without any reason, infact nobody has time to argue with strangers over internet.
@Raj Sharma
Imagine that your next door neighbor at NCC is in a crisis and needs money urgently. So, he decides to sell his flat at a price of 3500 to sree..!!!
What will be your reaction? Will you call him guilty of robbing you and other flat owners of their LIFETIME earnings? Will you even beat him for this crime? Or you think, flat owner’s association at NCC will even consider helping him with money just to keep the flat prices high?
NO. Because, it’s a free market after all. Remember:
1) When investor sells his flat, it’s free market.
2) When house owner rents his flat, it’s free market. ( thank god we don’t have professional renting agencies here, mostly)
But, when builder sells his flats, it’s NOT free market. Had it been so, RE prices would have come down now.
Real world, unfortunately, is not a free market. They work in cartels, controlling prices. Investor, however, are left with the vagaries of the free market…!!!
>>> Cheers!
Cheers indeed.
My dear- Hypothetically we can speak of any situation.It is reasonable to assume that the people who have invested in this property are Investors who will resell it once the property is ready or first time home buyers who are looking forward to their dream home. What makes you think that someone will sell it below the launch price and exit. What makes it that compelling unless the bloke has lost his job and is not able to pay the pre EMI’s or whatever. Free market is no lunacy.
Hypothetical situation dose NOT indicate market sentiments my dear manjusreeji!
The example what you have given dose not hold any logic over here for rock bottom price which even builder has not given while launching it!
current price is 5750/- one can expect 100 to 200 discount in case any body has invested less then this price…
BTW i had booked it at 4250 + reg in 2011! 🙂
Second hand sales of apartment after builder aka hoarder sells and leaves it is a free market and appreciation in this is not much overall. I have known cases people selling apartments that is far less than inflaion in many places of bangalore.
How many builders in Bangalore are not able to sell say a 40 lak Rs flat for years?That too close to IT companies. RE is given rosy picture by media, Airport, software park,metro as if we can go and get money there without doing our work.
Dear Sree,
Even if you are to offer your apartment for “FREE”, dont be to sure that people will come flocking by, since the maintenance cost to maintain the apartment itself is quite huge. Slowly, people are realizing that despite paying huge prices they still have to depend on tanker water.
true rajesh..i am expecting Real estate crashes to 50 % in 3 years down the line..since people are loosing the trust of the builders..market will not recover..
In 2013 Robert shiller told whoever buys Gold now, is making a mistake of purchasing at near top price and predicted 70% crash of price from peak of 1800$ .Now it has come down to 1100$. Same mistake ppl r making in realestate too.
many amenities are common to all apartments. Assume 3 person live in 3BHK and same 3 person live in 1 BHK. In many apartments they charge based on sqft. Do ppl in 3BHK consume more water?Use more lift?Many hav equal opportunity in swimming pools, club house ,walking track etc. You cannot really charge usage basis. But atleast it should be a base charge plus no of permanent adult charge. It cannot be per sqft charge.
You should take this up with your Association. Each Association Society has its own method of charging Maintenance.
san
I am an unfortunate customer of Nitesh and have booked apartments in two of their premium projects – Nitesh Hyde Park and Nitesh Cape Cod.
It has been 5 years since I booked in Nitesh Hyde Park and I am still waiting to get possession of my apartment. Nitesh has a horrible track record when it comes to project execution and their customer service is equally pathetic.
Even the Nitesh Cape Cod project is significantly delayed. The worst part is even after 3.5 years since the project was launched Nitesh does not have BBMP approvals for constructing 3 out of the 8 towers planned. I dont see getting possession for another 2 years at least
They are simply taking their customers for a ride and are only concerned with launching new projects and making new sales while completely ignoring execution of the existing projects. The sales guys are trained to make tall promises which the company never meets while the customer service team is trained to only pressurize customers to make payments and simply ignore all customer concerns and grievances!
Regards
Harshal
A harried and distressed customer of Nitesh
Please find the below link for Investor / Resale stock
http://harshasagar.com/resale-flats-in-bangalore/
Heard that construction work has been stopped again and new date for handover gone to 2017 or later!
They are focusing very less on this project!
Got the mail from CRM that Nitesh management will meet flat owners on 6th Dec 2014 at the Bellundur site at 10.30 am
Those who have invested in this project must come and raise their concerns, This should be the golden opportunity for everyone!
BTW hearing lots of radio ads for their projects like Columbia, Hyde park and Columbus. looks they have started completing VERY old projects first! it means “Nitesh Cape Cod ” goes again for back burner!
This is not done Nitesh management!!
Selling my 2 BHK unit 1260 sq feet F block east facing
Rs 88 lakh + registration
contact me on 9008029450 if you are interested.
@Vivek : As somebody had noted below, your first post to sell this 2 BHK was on 18th Sept 2013. So it has already been more than a year but you havent been able to sell. Why dont you consider dropping your price, you may find some genuine buyer. Good luck.
my second mistake that i booked in this NCC-project! first one is Mantri webcity!
Both projects are delayed and will delay for sure!
I feel anything above 70 lak is not for flats where we own 1/4th of land 1 basement floor 2 wall s(others will be shared by neighbour), but 70-80 lakhs for a house with 2-3 floors. NRIs may not be able to spend time. But ppl in India, dont get scared away. Explore possibilities.
Hi All , We have few ready to move in apartments available on Sarjapur road which are all investor stock at a very competitive price – 3 KM form ORR and 0.75 km from ORR.
The project is located on Main Sarjapur Road. 3 BHK of 1730 sqft will cost 1.05 cr ( Including registration , service tax and VAT ) and smaller 3 BHK will cost 1 cr ( Including regitration , service tax and VAT ) .
2 BHK will come to 78 Lakh ( Including registration , Service tax & VAT ) . The projects have got full fledged club house with all the amenities.
Interested people can mail your requirement to
Selling my 2 BHK unit 1260 sq feet F block east facing
Rs 88 lakh + registration
contact me on 9008029450 if you are iterested.
Interested in buying property –
2bhk around 80 Lac. if anyone is willing to sell, please contact at 9632566633.
Hi All,
I would like to sell my 2 BHK flat F0302 east facing flat @ Nitesh capecod project, Price @ 89lakh+ reg
If any one interested please do call me @ nine zero zero eight zero two nine four five zero
Or email at vivekmattur at gmail dot com
Hi All,
I would like to sell my 2 BHK flat D0703 flat @ Nitesh capecod project, Price @ 93lakh+ reg
If any one interested please do call me @ nine nine one six five eight three four zero one
Or email at amit_rathi114 at yahoo dot com
Thanks
i am interested to buy for 3500 rs/qft for 3 or 4 bhk + registration cost..Any one interested to seell please mail me
bgl: Please stop having such unrealistic expectations.. even @ launch builder did not sell @ 3500/-
Current price is 5750/- Please have realistic expectations or stay away from posting !
it cant be greater than 4K…Anyone who pays more is not going to get any benefit considering the delay
Hi Vivek
5750 is the inflated price by the investor and builder. Can u tell me why 5750 ?
Why this cannot beless than 4000 rs/sqft..2 weeks ago you would have noticed that there are 1.5 lakh homes unsold in Bangalore alone..as per hindu articile..you can google and see..For any genuine buyer 3500 is a decent price that can be offered for this project..not as a investment but living purpose..i can have an agreement with you that I will not sell this for another 10 years..if you want..
so I am saying greedy is making the real estate market suffer..that is the point I would like to make
any way if you are interested for 3.5to 4k I can discuss on this
i am interested for 3500 rs/sqft plus registration..let me know if anyone is interested to sell.
Vivek,
You stop quoting unrealistic price for your 2BHK. First of all project is already delayed and it might get delayed for another 2 years and you want big money from your invested flat.
It’s better to invest money that you are quoting in ready to move flats rather than investing in 2 – 3 years more delayed flat.
If you have the guts to sell the flat in Rs. 4000 per/sq ft than i will buy it.
Thanks,
Hitesh
I am planning to sell my 2BHK in E-block higher floor for 85L + Registration. If interested please email me at .
Regards,
S
I am interested in 2BHK. I tried mailing you but your mail id seems to be wrong. Is that flat still available?
Hi,
The email id is correct and I received two emails including your email through harshasagar. Can you let me know your contact number and I will get in touch with you
Hi,
Sure. Please drop me email at
I have some premium 2, 3 & 4Bhk units available from land owner’s share in this property at very attractive price. pls call double nine eight double zero one seven four six five.
Hi Javeed,
Do you still have them?
i have one 2 BHK in F block. Please call on nine zero zero eight zero two nine four five zero for more details.
Hi Javed,
Kindly let me know the price if you still hold the flats.
Regards
Vipin
i have one 2 BHK in F block. Please call on nine zero zero eight zero two nine four five zero for more details.
They do not have TDR for F G H blocks
I think BBMP has not sanctioned those three blocks
How would they finish the project?
Planning to sell 2bhk much lesser than builder price in f block 3rd floor east facing..
call me on nine zero zero eight zero two nine four five zero if you are interested
@vivek : i can see you have been trying to sell this for some time. Your last post was on 18th Sep 2013. Any reason why you are not able to find buyers despite quoting price well below builder’s price?
I was not very serious in selling earlier. But now i want to sell it. Let me know if you have any tips.
Tell me the inclusive all price?
Planning to sell my 3BHK higher floor premium apartment. Anyone interested please call me on nine eight eight zero seven four six two six one.
Please email me your flat details and price at .
pl. email me the flat details and expected price to
Hi Prashant, you could mail me your flat details at Thanks! Mayank
Hi Prashant, I was thinking of buying in Nitesh Cape Cod. Is there any problem with the project? May I know why you wish to sell your premium flat at this stage? Thanks and Rgds Hari
anyone interested in transfer of 3bhk – 3rd floor unit? You will get it much lesser than builder’s current price. call me at nine eight four five two zero two zero four zero.
2 BHK flat for sale in F Block east facing 3rd floor Interested please contact nine zero zero eight zero two nine four five zero
I’m interested, can you plz fwd me details? Price\facing\floor plan etc, to Thanks in advance.
If you still have the aparment, please let me know.
Hi Murari,
I have the 2BHK available. Please email me at and we can connect
Your cell number is not valid , can u pleas pass your number , I am interested in 3 bhk , thanks.
intereste for 3250 + registration..if you are ok..pls mail me asap.lets close the deal
Guys,
It appears the scheduled completion date for this project is somewhere in late 2015. Do the owners also have the same time-frame communicated to them? What are the other problems associated with this projects? Can someone enlighten me? I will be grateful.
Thanks,
Peter.
Apart from the delay there seems to be no problem as of now. I have seem others projects from Nitesh and quality was better than other builder like Prestige.
Stupid question – how did you measure Nitesh’s quality when none of their apartment is delivered yet…i mean all apartments are under construction…can you please name some of the projects…i have just seen Flushing meadows (pics are on website) and its is just ok..no comparison with shantiniketan…..
Question to Ajeet: I agree water is not there but do you know any apartment or area which has no water shortage ?
Shortage & Unavailability are two different things to be more precise. I am living in this area since last 4 years and seeing that water level is getting down day by day.
Borewell in our society itself did not work after 6 months even.
You can expect the situation what will be in 2015 end..
From the Pics how can you decide about the quality of the Project. I am not very sure whether you are aware of this or not but one of the block in Prestige Shantiniketan had collapsed.
To MD,
The best way to measure the quality of the project is when project is under construction and not when project is already completed. During construction only you can find out what kind of material (i.e. steel rod, cement etc) used. If you have used good quality of material during the project then automatically quality of the project (and ultimately your home) would be better.
I agree with Shiksa.
– PM
Major problem in the future is Water level in this area, it is going down very rapidly, By the time Cape Code would be ready, there will be no ground water available for residents.
I am intrested to buy 3bhk in nitesh capecod…
please any one suggest me on this… I am little bit afraid because they dont have approval. ….
Which approval are you referring to?.
I am living very near to that place, I am not seeing much progress in terms of construction since last year. Based on the current progress it is going to take another 2 years to get it complete.
What is the current Rate?
Last I heard was 5700 + flr rise
is it confirmed rate? I thought rate is still 5300/- per square feet
Does anyone know the current rate & availability status? My friend was inquiring from abroad.
Thanks.
5300
Hi,
I am looking to buy apartment in Nitesh Cape Cod, can some one let me know the current rate there.
Thanks
5300 per sq dt is base rate.
5300 per sq ft.
Have they increased the rates ? It was 4900/- in Sep-end.
Also, any floor-rise or premium /in-facing costs ?
hi.
Saw news paper adv on a scheme- no EMI for 2 yrs, are they quoting the same rate for this scheme also (5300/ sq)
Still current 5300/- rate of Nitesh Cape Cod is very less as compared to base rate of 6135/- of Purva Whitehall
Hi- if you are really interested call me on 9620254298 to get at a resale price lesser than the builder Quote.
let me know…i am intrested
Hi Divya,
Is this property still available ?
Thanks,
Amit
Yes; Pl call me on 9620254298
Is this still available? Thanks
Does anyone know what is the construction state of the Project? A friend of mine was interested if they are making good progress.
Visited the site a few days back – foundation works are underway.
Was told that the foundation work should be over in another 20 days or so
I checked out this property last weekend and quiet liked it. The builder is quoting 4900 Rs per sqft which is really really expensive. Keeping the cost factor aside is it worth buying it. I am actually looking for a 3 BHK. I am looking at factors like quality of construction, amenities, reliability of the builder etc. can somebody enlighten me with the details it’ll be very helpful, thx in advance
Hi – can anyone tell what is the current price per sq. ft for 3 bhk at cape cod?
Current rate quoted by builder is INR4900/sft.
I am looking to sell my 4bhk 2025 sft, east facing on the 4th floor A-Block at INR 4650/sft due to some personal constraints. Please contact me at 9886638667 if interested.
Sid
Is this still available? I might be interested.
Is there any Owner’s group for Nitesh Capecod?
yes, there is one. You may join the nitesh_capecod group in Google Groups.
Did anyone signed the agreement ?
YES
Does anyone knows if builder has started any construction on the site ?
Was told that the construction contract has been given to Simplex Infrastructure Ltd. This is the same co. building Ritz Carlton hotel on residency road for Nitesh. They have also built Brigade Metropolis, Brigade Gateway & Brigade hospital – all these projects were delayed.
U/stand they have started marking for digging & commencement of work.
what is the current rate Nitesh is quoting for Cape Cod ?
The construction agreement does not contain any possession date. Instead it states that it will be delivered on or before 30 months from receiving the Commencement Certificate, with 6 months grace period. From what I have understood, Commencement Certificate can be obtained after completing the foundation work. So finally there is no calendar date mentioned in the contract. Is that a norm for every project, or something specific for this one?
Hi,
Has any one verified the details like,
1) Does the General Power of Attorney(GPA) which Nitesh has got is valid as per the Supreme Court Order.
http://capitalmind.in/2011/10/gpa-is-not-title-supreme-court/
2) Has any seen the agreement between landlords and the Nitesh for the entire 4+ acres of land.
3) I saw that some approvals are in the land owner’s name who has got just 8 or 10 cents land in their name. Will it be a problem.
4) Will the property be given as Freehold or Leasehold at the end ?
5) Which approval are pending BDA, BBMP, BMRDA, etc..
Note: I booked a property and in the process of verifying the documents before signing the agreement. If any one has done it please reply here about your findings.
I am ok to take some risks given that it is a big builder however i should be knowing risks/issues before signing the agreement.
Regards
I have booked one there too and I am yet to sign the agreements. The little legal due diligence that I tried did not throw up too many issues. But then there is a limit to what we can check and get checked.
I see no calendar time line mentioned in the agreement documents for handing over the flats. That is another point that looks risky.
All claims made are totally wrong. The flats are super expensive. there are too many residents around this area and has acute water problem. If they are making 400 + flats in a 4 acre land, how can that be very spaceous. It is going to be very congested. if there are no parking place for guest and a second car, where are those going to be parked. Pls do not buy flats here. All claims are complete cheat.
Hi All,
May I request all to take this survey in the link provided below to find out how many of us have made the payment of the balance 20% yet? This will take just 2 seconds!
Request you to register your vote by end of day today (Sunday, 11 March) so that we know the result before we sit with the Nitesh representative on Monday.
http://freeonlinesurveys.com/app/showpoll.asp?sid=8789x0bkmfm3r1017454&qid=17454
Regards,
Saurav
Does anyone know if the Sample Flat is ready and when do they plan to get the agreement done and start construction ?
Got a communication from CRM today, they are asking for the 20% payment by 10th March, and I suppose the agreement will be done after that. Have you got the legal docs/agreement verified by any lawyer yet?
There are not much things to verify at this state :-). I am currently believing in the builder and moving ahead with the documentation. Have asked for a agreement draft. Lets see if I get it by Mar-10.
Could read from Cape cod google groups that the actual BBMP approval is still awaiting and payments will be done after the actual approval certificate only.
Vivek
Yes they have got the approval and that is the reason they are asking for balance 20%.
I was looking to buy a 2BHK in Nitesh but looks like they dont have permissions for 10th floor onwards. Has anyone booked anything on these floors and are you aware of this. As per the builder he may drop the plan of 2BHK on these floors and come up with 3BHKs.
I have booked a 2BHK (1260sq ft) on 4th floor – am now planning to transfer it due to some personal reasons. Please call me at 9620879395 or write to me at if you are interested.
I have booked a 3 BHK on 12th Floor. Do you mean that they have permission for 3BHK for 10th floor onwarrds ? It is only 2 BHK where they have issues ?
Yes that’s what he meant. Sounds confusing to me. Telling about some FSI stuff but my guess is that they will sell it later at higher price.
Hmmm! Don’t know…4400 psft itself is a higher price considering current market.
i dont know what they are upto and what strategy they have pricing…seems lot of demand for this property in particular.
Am looking for a 3BHK in cape cod. If anyone interested to sell /transfer at a higher price than booked (pre launch price), pl let me know.
Thanks
Job- 9449721172
You can approach the builder directly he seems to have couple of 3BHKs left for Sale.
isn’t the current rate 4700 psft, with no EMI for first 2 yrs?
Has anyone read their draft agreement ? It is extremely unfair.
They have mentioned in the agreement that the club-house and certain common facilities for Cape Cod may used by other Nitesh projects if they build in the neighbourhood.
If the owners of Cape Cod have to make the full payment for club-house and adjoining facilities, why would someone other than the owners of Cape Cod enjoy its facilities ?
Dont you think all the common facilities that the owners are paying for, belong to the owners association alone ??
Guys the agreement they want us to sign is completly one sided. They said approval will come by beginning of Jan it is now feb I don’t see it is comming along
We should plan to meet the builder together and raise these concerns. Raising individual issues will be ignored.
had a chat with the sales guys yesterday. They are positive about getting the approvals before the Bhoomi pooja ( supposed to happen on 18th Feb ) I am really not sure if it will happen before that. We need team up and approach these guys and get some concrete data.
I completely agree that agreement is one sided. Sharing of club house with other Nitesh projects is not acceptable. We should raise our concerns in group. Let’s plan to meet together next week end
The pre-EMI offer does not actually seem to be so attractive as it seems to be.
1. The offer is valid only for the first 25 clients based on the new rate. As per the sales guys, already 15 flats have been booked.
2. The offer is valid only for those who take home loans from HDFC bank
3. The calculation made by Nitesh uses some assumptions that seem to be flawed:
a) The interest rate is assumed to be 10.75%. But with the RBI easing the CRR currently, the home loan rate is sure to come down in near future. This brings down the actual benefit.
b) Also, the calculation assumes that the entire loan being disbursed right at the beginning, thus increasing the interest amount. This is not true in reality – the payments would be due in every 1.5 months (except the next payment after the balance 20% will be due in 4 months after the construction starts). This is key because the interest amount is directly linked with the time of the disbursement of the loan.
To illustrate further, on a BHK of 1260 sq ft, the interest saving actually comes to be (on int rate 10.75%) Rs4.36lacs, versus Nitesh’s calculation of Rs5.87lacs. So, actually we see that the interest benefit is actually much lower than what Nitesh is showing it to be …. a good marketing strategy!
Few builders give 10% reduction if you go for the out right EMI. To elobarate
1. Bank disburses the entire loan amount upfront to builder.
2. Builder gives 10% benefit to buyer (10% of amount disbursed – actual due at that time frame)
3. Buyer starts EMI from month 1 of booking though he gets the flat after 1.5 yrs to 3yrs -> saves pre-EMI
Would this be beneficial?
Saurav,
good pointes indeded !
Regarding Point 3.b.” next payment after the balance 20% will be due in 4 months after the construction starts “…does it mean that Nitesh is officially accepting 4 month to complete the ‘Foundation’ work once the construction begins ?
that is what the sales guys said
I also visited the site, and the pre-emi offer is not attractive at all. The possession they are quoting is after 3 years, and the exemption from pre-emi is only for two years. Last one year you have to pay anyways.
Has anyone taken this flat on Construction link home loan or used ADF type of home loan. What is the general feeling whether Nitesh will finish this project in time. Mid Jan was suppose to be start date but still there is nothing.
Thanks,
Pankaj
the sales guy says that their internal target is to complete within 30mths
Visited the site today and talked to the sales guys. They confirmed that they have hiked the price to 4700/sq ft. They are expecting the approval in the next week and will allow us 15 days to pay the next installment
This they have been saying since December
I think sales have petered down now after the initial euphoria with many speculators & brokers booking to make a fast buck. Rates are stagnant – even Prestige Sunnyside claimed they would increase rates after the new year, but they have not (rates are still 4350/- there).
Looks like Cape-cod rates will remain at 4400 or even come down. Meanwhile, marketing guys keep promising that construction is about to begin & approvals are around the corner, but they may not commence unless their pre-set target is not achieved, I guess.
In todays times of india saw ad on 0% pre-EMI option for the bookings done now. And is it true that the price has touched 4700 ?
I had written to the CRM wing of Cape Cod to enquire about the pre-EMI option. They said that the ofer is valid on new bookings at 4700.
Anything latest on cape cod? We had booked during november, is the foundation work starting on Jan 14th as they mentioned in one of the recent letters? Also anyone know current price as one of my colleague is keen to book a 3BHK now. Has it already touched 4600 level ? What is the floor rise cost?
the current price is 4400+20 for floor 4 onwards. I am planning to transfer my 2 BHK for 4280/sq ft (saving of approx 200,000) in case your colleague wants to go for 2BHK. pl call me at 9620879395 or write to to discuss.
I think the latest rvised rate is 4700/sq ft
As on 8th december it was 102 bookings.
Sold only 4-5 flats in a month?? What is the present rate going on? Are they offering any discounts?
I wish to transfer my 2BHK (1280flat) booked at Nitesh Cape Cod. The present rate is 4400/sq ft, likely to be hiked to 4600/sq ft around next month (as per sales guys). I am willing to offer the flat at a discounted rate of 4280/sq ft. This translates into a discount/savings for Rs200,000 against the exisiting rate. If anyone is interested, pl reply to this post. You may also mail me at to discuss the the details.
Regards,
RK
I wish to transfer my 2BHK (1280flat) booked at Nitesh Cape Cod. Rhe existing rate is 4400/sq ft, likely to be hiked to 4600/sq ft around next month. I am willing to offer the flat at a discounted rate. If anyone is interested, pl reply to this post.
Is it possible to transfer the apartment before signing agreement with builder?
What is the transfer amount involved?
it can be transferred only after the agreement is signed…which is likely to happen next month…are you interested?
If you are interested, you may drop me a line at
Hello, I would be interestd, can you mail me your details please?
you may write to mew at or call me at 9620879395
Can you please share your mail id so that I can mail you the details of my offer.
Regards,
RK
Hi,
I have booked a 2BHK flat at Nitesh Cape Cod (1287sq ft). I wish to transfer my booking to anyone interested. The current market rate is 4400/sq ft, likely to touch 4600/sq ft….i am ready to offer my flat at a discounted price of 4200/sq ft….if anybody is interested pl reply to this post
i visited the site and their site office yesterday. they sold 97 apts till now. The current price is 4250, but they said they will raise to 4550/4600 by next weekend or by the time they reach 100 apts, whichever is earlier
Traffic, water electricity problems are bound to arise in the areas which are dense in population, but that’s where you get everything at walking distance. I’m not talking about cape cod specifically but this particular cluster including prestige sunnyside, sobha cluster behind ICICI bank, cape cod etc, you have tons of offices and very good commercial establishments along with many good school like greenwood high/TISB/Inventure, Primus etc. I find this area really well developed and well connected. There are issues like traffic or water etc but which is the place which doesn’t have one or the other issue. Regarding high price, prestige sunnyside is also 4350, purva skywood which is 5KM inside haralur road is 4100+, so RELATIVELY it’s ok. Because high and low is not absolute but relative
I booked a 2BHK on 12th Nov. i am not sure about the current booking count. I was told it will shortly be revised to 4400 or 4450 (once they reach 100 bookings)
Hi kpujari,
Even I have booked a 2BHK. Just wanted to know whether there is any common forum/group for those who have booked a flat in Cape Cod. I have joined a group in common floor, but that one seems to be not a very active one, with only 5-6 members….specially when almost 100 flats have been already sold…..one more concern – i have received an updated cost sheet from Nitesh and I see that they have already increased some of the other charges, thus increasing the total cost by about 3L. They have even changed the sq ft area of the flat!!. Can you share your experience?
Thanks,
Saurav
Yes, I have noted change in the area…
What components of price have been changed ? I did not go thrrough this yet.
Will be interesting to join the common form/group of buyers those already booked in Cape Cod….pls share if some one has taken a lead.
I’ve also booked 3BHK in cape cod. Like suggested in this forum, I have created a google group
Please join in so that we all are connected.
Hey CS!
the group you’ve created doesn’t exist ! tried joining this group but got a reply saying the group doesn’t exist.
Same here..i got the same message that Group does not exist.
http://groups.google.com/group/nitesh_capecod?lnk=srg
Does this link take you to the group?
seems to be working now, thanks
Hi Saurav,
I received the receipts for the booking amount i paid just yesterday! and even i was surprised to see the increase in sqft area ! i did speak to the sales guy regarding this i am expecting a formal reply from the management if this increase in sqft is just a typo or if there have been any modifications to the actual area. U must be aware that they still are in the process of procuring BDA approvals. I am not sure if this increase in sqft area has got anything to with pending approvals. Please let me know if you had a chance to discuss this with the team from Nitesh.
Regarding the price increase (3 lakhs) that you mentioned, i checked with the sales guy and he is absolutely sure that there is no such increase. i am not sure if you have booked during pre launch ( 3900 psqft ). If that is the case then you would see an increase of about 5 lakhs overall for a 2bhk. For everybody else who booked at 4250 psft the old rates still hold good, except the service tax amount which they still haven’t zeroed in on.
last update i got was that they are almost at 100 bookings, and price revision to 4400 will happen in the next 1 week.
Hi
The prelaunch price was 3950 and not 3900 as mentioned in your mail.pl clarify as i booked for 3950.
it was 3950…..became 4200 within 3 days…and now 4400
I just checked yesterday. They have changed the are of 1785 sqt flats in C and D blocks which were in front of basement entry/exit (back side). I didn’t ask the reason because I was in hurry. The 1785 blocks there are now 1650 sqft and 1650 + 165 (terrace). Earlier 1785 had bigger balcony and rest of the floor plan was same as 1685. Now in 1650, everything is same except the fact that foyer at the entrance is gone. so the door opens directly in living room.
Also, the sales person said that they have already crossed milestone of 100 flats but they will revise rates in January or so. And approvals may take Dec or Jan.
Hi Kpujari,
Latest update from the sales guy – talked to them yesterday – the price is 4400/sq ft and the the approvals are due by Dec/Jan…so the next payment would be due in end Dec/Jan
Thanks for the update Saurav. i visited the site today and confirmed the price. Like you mentioned it has been revised to 4400. Once they cross 125 bookings it will be further revised to 4600.
Mode apartment will be ready in a month or so. they have started construction of model apartment a temporarily rented land adjacent to the site.
Approvals may be ready by dec/jan
Cheers!
Any idea, how many flats they have sold as of now?
I have been living in Belandur (Sobha Apartment) area for last 2 years. The whole region is full with unorganized and chaotic development. Each day, the situation worsens here. The only way to get out is through outer ring road which is choked at office hours. It is a traffic locked area. You just can’t get out. Flyovers should make things easier, but with more and more offices coming even that may not suffice.Water situation is very bad. Power supply is bad as well, although generators make it up for that. The population density in the region is too high. It may be a good idea to buy a flat here and rent it out but definitely not a place to live for long.
Any idea what is the price now.
Have one question for your folks on registration charges and stamp duty.
If i book a 2bhk of 1260 sq. ft at Rs. 4250. The total would work out to 53.55Lacks + Car Park of 3 lacks = 56.55 L.
How much money should I park aside for stamp duty, registration, VAT and etc other charges, apart from what the builder mention in their cost sheet. (assuming cost sheet mentions power & water, 1st yr adv maintenance, sinking, legal, gas bank, generator, club house, CP, floor rise, basic rate)
It is really not worthy to put our self at risk for such a high prize. Yesterdays economic times already told that builder are under pressure of heavy high interest rate loans as the prices are not appriciating. Though this is happening first in Mumbai.. all the metro’s will see this happening as everywere there is huge cunstructions and amout of appartment availability today is huge. so forgat about appriciation from such high price, I see price decline soon in Bangalore too.. as is the case in Mumbai.
Ram Kumar Sharma, you posted a reply, which is ir-relevent to my post. Pls dont post, message just for the sake of posting.
Jayesh,
Could you pls help me on this.
Thanks,
Rajat.
Hi Rajat,
I appreciate info given by Ram Kumar Sharma there is nothing wrong if person provides any good info free of cost even if you did’nt ask.
Regarding sevice tax + VAT + registration you need to add around 9 Lakh provided you are doing registration on Guidance value if you go for Market value of your flat then reg cost will be very high. I heard that some SBI bank Branches does registration only on Market value so better to confirm first.
Service tax and Vat are around 14% of basic flat cost. Builders says this percentage will be on construction cost which will be less than actual flat cost. but who knows what cost they will calculate.I know Purva,Skywood for 2BHK (Current price 4000/- PSFT) is charging around 6 Lakh for Service Tax and VAT. Apart from these we need to pay for Registration charges
These builders knows that if they tell about tax and VAT now then people won’t buy and once we book then later they can charge whatever they want.
Builder have listed all the cost now like BWSSB, PSFT etc then why can’t they let us know about the taxes and they can mention these will be taken as actual the way they do for BWSSB etc. When I visited Nitest bldr first time around 1 month back they told the taxes and Registration will be around 8Lakh and now they telling it will be around 5.5 Lakh.
We should not trust on their wording ask them what’s the total cost now and I am sure they won’t tell this at the time of booking.
These bldrs keep on raising the price because we can take huge Loan from bank easily and later we may regret if not able to pay EMI due to any reason. These bldrs have kind of Unity but we guys do’nt have that is why prices are increasing like anything. Around 1.5 yrs back prices were almost 40-45% less now suddenly why prices increased. Do blders think that in 1.5 yrs Our salary got doubled or we got money from RBI or some govt has given us Money…I am also keen to buy the house but not at this price…..price correction is required…….we just need to wait and watch
This is my personal opinion and info may not be acurate
Regards,
Ajay Gera (Keen buyer)
I think price is high. If anyone has bought this then please let us know at what price you bought? To what extent builder is giving Discount. I am not sure if this property will appreciate after we purchased considering lot of trafiic problem, water issues etc..The price will keep on increasing unnecessary because banks give us loan easily and after some time we may end up in issue if not able to pay EMI due to recession and then we think to Resale…..
This is my personal opinion
Last time I checked was on 22nd and the price was 4250. AjayG has very valid concerns about traffic/water problems. Water is a common problem so doesn’t really belong only to this project. You can see water tankers more than the cars on the roads. Traffic Jam I think will ease once the flyover construction is over, in a year or so. One think I like about this project is the safety. The location is in a good residential area and If my kids had to come alone in the night, I won’t be that worried (ORR is notorious though) but still better than location of Sobha Cinnamon/Purva skyword where you have 5KM of dangerous stretch with strange looking folks and same is with the road parallel to jail road where you have slum area rehab. Aweful locations and builders are asking 4.5K PSQFT+ in those areas. Other option I see are the projects coming up right on sarjapur road like Mantri Premaro (sunil mantri group – cheap one), DSR woodwind, Confident Leo, SJR Celestia. But I’m afraid of buyingon Sarjapur road because there is govt plan to widen the road which will eat up apartment land for which I’ll pay initially as part of super area. I see Cape code and Prestige sunnyside as two good projects. Location wise sunnyside is not that great because when I checked the site last week, there are no shops for daily living stuff, which is not the case with cape cod. I haven’t yet decided but I guess I’ll book one of these two.
What discount are you talking about? If you are referring to group discounts….by the time you form a group the price revision would have happened which defeats the very purpose. If you are planning for a “first home” then it is better to approach directly and early so that you can select best available apartment. The bellandur flyover should be complete in few months time and should ease out congestion. And by the way where in bangalore you do not find traffic??? Prime criterion is proximity/ access to office, schools, medical facilities, good neighborhood, shopping areas and cape cod scores well.
Read in one of the forums about Cape Cod price revision to 4700/sqft. Do you know when is it happening and what is the current offer price ?
Extrimly over prized as there are ready to occupy flats available in this area for 4K/sft with all the aminities he is offering.
Eco green is a marketing gimik’s as we all know what it take to get the certificates. Satyam had all the quality and audit certificate and we all know what happened to it. so certification is just a bussiness to the people who give the certificate. infact the concept of appartment can not be eco green as apartment waste’s lot of water and electricity… they cannot affort solar enargy etc.. on the other hand he has chopped so many green tree’s to creat this eco green project.
Looking at over all picture of property in this area there are more than 40% flats available for sell or rent and hence this price is not justifiable. There are huge appartments coming up in this area which does not have buyers. looking at all this is it really worth putting your self at such a risk for 4 -5 year ( time of completion)
Regarding the flats which are already sold in this scheme.. -> first 20 would be his friends and well wishers and hence would get better rate to make sure they pump in the money.. and than bangalore has lot of people with money who don;t know what to do with there money so they park the money in real estate and thats how the buble grows.
These are strictly my view on property and the project and nothing against anyone…
hi. Is the price revision 4700, is from genuine source. I was also looking for an apartment close to ORR, coudnt decide on capa cod with 36+ months waithingand high pricing. Let me know if nitesh constrauction at par with Sobha/prestige or its the marketing that runs the business.
worth 4500 + rate? pl suggest
I think its still 4250
As on today the price is at 4400/-. The BBMP approvals are supposed to come only after the 15th of jan so you have still some time for the price increase. The price would increase to around 4550 to 4600 once the approvals are in place. This is indeed a good buy keeping in view the proximity to ORR, offices, central, Shops, Good neighbourhood and even a Sathya Sai Multispeciality Hospital just opposite Accenture. Nitesh is definitely at par with Shobha and I have seen their projects at Lavelle Road which is really good.
Price revision might be true and look at the timing…. Full page ad in today’s time of india bound to entice more buyers especially during diwali week. Easily 4500 per sqft + 30 for floor rise
I enquired the mrktg guys and this is the info regarding price revision….. they have sold 90 apts as of 21 Oct and the price of 4250 will remain for the next 10. Once the count reaches 100, it will be revised to 4600/sqft. I am not sure how much they were able to sell in the times expo on 22nd and 23rd Oct.
Jay do you know how much extra per floor rise after price revision?
No idea about the revision for floor rise
It is Rs 20 /floor 4th floor onwards but they are not charging any floor rise/PLC in the launch offer.
I checked with Marketing guys and they say there is a open area for kids. …don’t know big or small.
I have been following this link for sometime and would like to share my views.
Following are the assumptions I have made to come up with the below points and this is just my personal opinion and feedback is welcome
This is primarily for people who want to live in this apartment and want to have a home which they are comfortable staying for a long time and not buying just an investment. As for investment you can do it without lot of questions as any builder would fetch you the rent and give you better returns if the property is in a prime locality (close to IT offices)
1) Location – This being 200m from the ORR – Sarjapur junction is a big plus compared to all the projects in Sarjapur Road. Other projects currently open for booking are Mantri and Embassy Pristine (luxury 3 & 4BHK). Prestige Sunnyside is also an option. The area is residential with many shops and malls (Central, Total, Cinemax) close by but at the same time away from the busy ORR traffic and hence not noisy.
2) Price – 3950 and now revised to 4250 based on the initial response. Anyone who does a business will want to make a profit if people are ready to accept the price. 50 bookings in 2 days made them revise it and now 35 booked with the new price. The location makes it to be priced at this level and you can find lower rates if you ready to move towards Sarjapur Road.
3) Green building – I have seen a lot of people commenting that it is a marketing strategy. I totally agree with the guys it is a marketing strategy but it is not easy to just say it as it takes a lot of effort in getting the Gold Certification from a international council. Do your research to understand the Gold Certification process and what all needs to be followed to obtain it. Godrej Platinum and Embassy Pristine are two other projects currently in the process of getting the same certification.
4) Design/Plan/Amenities – 1260 sqft is a spacious 2 BHK and so are the other plans. I think the floor to ceiling windows is still a very good design and I personally like it. It may not even be for Green building but I would prefer my home to have windows like that and also glass balconies. 4.17 acres for 8 towers may leave with less open space and that reflects in no opening kids play area. Model flat should be able to answer the quality of construction and I will keep my fingers crossed till I see it.
5) Water problem – It is definitely there but it is there in so many other places in Bangalore. Again fingers crossed on the Borewell as the water table is already dried up in this area and the maintenance cost will go up if they do tankers. Cauvery water connection is there till HSR Layout phase I and it is expected in this area in 3 years. 1300 crore project by Bangalore Water Supply Board and Bellandur lake is one of them. 30% recycling of water and used for common areas.
6) Timespan for delivery – 3 years is a long time for 417 flats. The reasons I can see is the approaching road is small for construction equipments to reach the site and no construction allowed in the night as it is a residential area. Though there are reasons, the financial burden on the buyer is more compared to some other projects.
7) Entrance road is a small road but it is only for Oceanus, Nitesh and very few individual homes on that road. It is a dead end road and so not much traffic and I feel it is sensible to have the entrance in that road that the Bellandur main road.
People talk about price coming down as there will be recession and real estate burst. I may be totally wrong but I feel the price may be at this level or come down by 200 to 300 rupees per sq feet., but it will not help anyone who is looking for a new home as there may be resale of houses.
Also you cannot buy in any of the properties which are currently open as the bookings would be completed by then. If such a recession happens I think we will try to save money and prepare ourselves for the worst rather than looking to invest at that time.
Note: I am an individual buyer looking for a good property to stay. All info provided were based on the discussions with the marketing guys + my opinions. No marketing intended
Hope everyone is able to get their dream house in some project and have a happy living
Missed this point initially
8) Facility Management – Nitesh will be doing it for the 1st five years and then it will be decided if an association will be formed or the residents want them to continue. I have seen few Nitesh properties maintained by Nitesh facility mgmt and they are very good but not without a cost. They are currently charging 3 rupees per sqft in other properties. Also Gas Bank is a very good idea and hope the safety norms and pricing are good.
Thanks for sharing your views.
I think Cape Cod is good value for money. Once the bellandur flyover is completed, the traffic situation will be better. Location is better than Prestige Sunnyside, because sunnyside are looks more commercial than residential. Other projects like Sobha Cinnamon, purva skywoods are 5-10 KM away and the approach road is so bad that you never feel safe in that area after dark. In that manner, cape cod is in residential area and localities/apartments in the neighborhood are pretty descent.
I would highly recommend this project.
I think overall this project is good on ORR between Marthahalli and Sharjapur for one or the other reasons already mentioned.
Even the land size of Sunnyside Oak (bigger out of Oak & Elm – two offsrings of sunnyside) is 3.8 acre and the land shape is triagular, whereas the Cape Cod is more than 4 acres on a rectangular (almost square).
I just noticed someone raised a concern on Childrean’s open play area ..what is that ?
‘S’ has mentioned that “no opening kids play area” under 4th point Design/Plan/Amenities above. What does it mean ….there is NO open play area for kids ? If so, thats a BIG disadvantage.
The plan shows a small play area next to the clubhouse and the amenities in the list says there is a toddlers zone.
I didn’t check it out specifically with the marketing guys as to how big it will be. Someone should check it before booking if that’s a big concern for you specifically.
Extremly over priced for the project which will complete after 3 -4 yrs. Fooling people with green building and hi fi jargan’s of go green and various amenities.
Anishnema – Could you share more details about Nitesh ? Which project has a bad record ?
I am planning to book at Capecod due to it’s close proximity to ORR & also since the area is already very well developed.
My only concern is that in an area of just over 4 acres, there are going to be 414 units, which appears to be on the high side when compared to other projects.
I visited the property a few days ago and felt that the builder is saying Green building and all the other hi-fi things, but design is average. I do not understand how it will be a green building (just that they have glass walls in some places can not make it a green building). Nitesh has some bad record in his earlier project. Given the builders old record, I thought the price is high and than it will take 4 yrs for delivery. That means after about 2 yrs with some 30-40 lacs as disbursed loadn, one has to pay 3-4 lacs as home loan interest for an year or more without any occupancy / Home loan interest benefit.
Impressed with the project plan, hybrid living concept and location which is very well developed. Earlier was contemplating between Prestige Sunnyside and Nitesh Cape Cod – now will go with Cape Cod as it a much better deal and close proximity to places for day today essentials.
We visited the site office this morning for enquiry and got to know that all the pool facing apartments are sold out. G & H blocks are still not available. In all about 90 apartments are already sold which tells that the demand for luxury apartment at Sarjapur/ Bellandur area is very high. Think we will not look any further and book an 3BHK this week itself.
Dont you think it is a marketting strategy?
Certainly Yes !
Its obviously a marketing strategy. When prestige sunnyside had to reduce prices with better track record, they can not sell such a large number of flats with only a slighlty lower price and longer delivery schedule.
It is the old marketing strategy. Initially when the porject was launched the price was 3950 per sq ft. two days later they increased it to 4250 saying that we already sold 90 flats and demand of our project is very high
Obvious marketing strategy. Reserve the best for the last. after almost everything is sold they will sell the pool facing like they are almost auctioning it, for more than a crore. They bring in the big profits.
No, I dont think price will be reduced, as they have sold more that 50 units in just 2-3 days at this price….
Now they have revised price to 4250/Sqft. Why so , that too just after one week of launch.
Checked out the site. Looks good and the price is a bargain for the location. Anticipate to touch 5000/SqFt by this year end.
I dont think prices will be reduced… even if we see slowdown,, only small builders normally offer discounts..I think price is ok..but concern is approvals may take 4-5 months and more. who knows.
I have visited the site today.
The launch price is being quoted as 3950 / sqft.
The marketing guy was ready to offer 150 / sft discount for group of 5 and above.
Advantages
1. Strategic location – Just 300 mts from Central on Outer Ring Road
2. Good specification
Disadvantages
1. Historically, Bellandur is known to have scarcity of water.
2. The main entrace opens to road which is very small
3. Approvals are still under progress
Not worth at this price at this time….Avoid by all means
This project is extremely over priced…. too costly..
Hi,
Whatz your expectation….will they reduce their rate in the near future? Did you probe those marketing guys on the disadvantages you noticed?