Assetz East Point @ Outer Ring Road
Assetz Homes has announced the Pre- launch of their apartment project called Assetz East Point. The project us located on the Marathahalli – Sarajapur and is spread over 7 acres of land. Assets East Point offers you 2.5, 3 & 3 BHK Duplex premium quality apartments in 10 towers each of 12 floors with a total of 400 units. The project promises 80% open space with a 11th floor club house with all amenities.
Assetz Property Group has a range of completed and upcoming commercial & mixed use developments in Bangalore including Vrindavan TechVillage, Global Technology Park & EDOM located on the Outer Ring Road. Current residential projects include Assetz Clover Green – Luxury Villas on Sarjapur Road and 27th Park Avenue – Apartments at HSR.
Few Flats open for sale in pre- launch price of Rs. 4000/- per sft
Assetz East Point Options
Apartment sizes from 1350 sqft to 2170 sqft
Assetz East Point Location
Located off Marathahalli sarjapur – Outerring road.
Assetz East Point Options & Price
- 2.5 BHK, 1350 sft, approximately 54,00,000
- 3 BHK, 1690 sft, approximately 67,60,000
- 3 BHK ,1710 sft, approximately 68,40,000
- 3 BHK Duplex, 2170 sft, approximately 86,80,000
Assetz East Point Concerns
- Be the first to share
Assetz East Point Investment Plus Points
- Though not a well know name in building residential projects in Bangalore, Assetz group does have some big commercial projects to their credit. So as a brand its a plus
- Marathahalli – Sarjapur stretch is one of the fastest developing localities with ready access to good transportation, shopping facilities, offices etc.
- Walkable distance from major software company on outer ring road like Intel, Cisco, Accenture etc.
- With Prestige Sunnyside, Nitesh Cape Cod, Prestige Silver Crest crossing the 4000/- mark, the pre-launch price looks attractive
My dream is to buy an apartment for my family as soon as possible. My work station is at Sarjapur, Bangalore. This is the reason i was looking for an apartment in Sarjapur and came across Assetz East Point. Now I need some guidance from your side whether is it wise to invest in this project?
Please don’t waste your time and money with Assetz. I’ve invested more than a crore for a 60 percent carpet ration apartment and there has not been a day that I’ve not regretted for doing business with them.
Forget quality, if you get a response to any of your emails (after you buy), then good luck.
Singapore builders etc etc, is what I looked and bought. I think it is better to go with standalone apartment or full high end apartments. This mid tier is there to do just fraud.
Is it a good idea to buy a property in Marathahalli? Can I expect good appreciation in near future?
Self use — can be a good idea if you buy in mid segment (price wise) and a location that suits you best.
Investment — Looking at past 3 years and next 4 to 5 yrs outlook, NOT a good idea.
*** Above holds true in general but written specifically for East Point ***
@SiteOwner, Why is my message not getting posted. Any technical issue or someother
Assetz property launched in 2013 and already crossed 36 months including grace period. Considering there is no communication on the handover and an infinite delay on the possession, can anyone suggest me on what are your views regarding possession. I am out of India and not in a position to know whether there is work in progress or work going very slow.
I think they should pay the penalties for delaying the possession. Can we take legal action
Looking at current construction pace possession and final demand note in march April 2017 for C block.Others slightly early.
Assetz property launched in 2013 and already crossed 36 months including grace period. Considering there is no communication on the handover and an infinite delay on the possession, can anyone suggest me on what are your views regarding possession. I am out of India and not in a position to know whether there is work in progress or work going very slow.
I think they should pay the penalties for delaying the possession. Can we take legal action
FRAUDS!!!!!!!! No one has seen the agreement of ASSETZ with adarsh!!!!!
Thanks GOD i didn’t buy property here in 2015. In same cost of 1.2cr i got bigger flat 2770sft(3 bhk duplex + private terrace) in 80 Trees project(Adjacent to East Point and GEAR International School). Builder is not very big and quality also no comparison with Assetz, but overall happy with my decision of not going ahead with East Point.
There is no comparison of these two projects. I am glad you are happy with your new home, I hope assetz will be good too with Nice villa view and terrace pool.
I already mentioned in my comment about quality/comparison.
Hi guys…am.planning to take an apartment in Assetz east point. Heard about following issues:
1. Fixtures are different than actually promised.
2. Road space given to Adarsh without consent of owners.
Out of these, 1st is I think taken care of. But I am not sure if 2nd is handled yet amicably. As per booking, each owner has some absolute share in land…but now if the land is given to adarsh, does this mean that absolute share will be lesser for owners?
What happens to existing bookings…they can’t make it less now… Can they?
Please let me know if there is any owners group I can get added to.
2nd point is also not an issue… the land is not given to Adarsh. it is still with Assetz. their is an easement agreement with adarsh. Assetz side of road can be used by adarsh residents as well. in return, Adarsh is providing Drainage system to assetz for rain water to go towards ORR….
So ownership is still with asstz residents?
So if tomorrow all residents find a new way for drainage, they can take that land back?
3/4th of the road belongs to Adarsh and 1/4th of it belongs to Assetz. even if Assetz want to scrap the easement, what it will do with that part ? now the road will be fully shared between both residents + assetz will get drainage system of adarsh.
There is a very good chance that this road will become public in another 2 years. then it will be well connected road towards ORR.
Isha,
I don’t think you know the facts. Assetz owner can’t use that road.
Also, what an owner does with his land, is a funny question. Which actually makes me question ur ownership in assetz.
Ashish if you have already taken the apartment then you can directly check with Assetz. if not, then i can tell you that Assetz residents can use that road & in fact there is going to be one Gate from Assetz campus on that road.
Dear Isha,
Please be very clear with ur understanding and communication. The access given to east point members is only from Adarsh back gate to enter assetz building on the B block side ( hardly few meters). So my question is why the hell we need an access from that side when we already have an access from the front of the building. How would a side access help. Currently assetz residents are asking access to the road to reach ORR thru adarsh palm retreat and this is what adarsh is not willing to accept.. or maybe assetz is not pushing enough to convince. Also one more gate means one more team of security managing it which will increase the maintenance cost.
Yes Ashish you are right. Isha, Sanjay are all the pseudo id created by assetz employees to try and clean up the mess they have created. And you are right that Assetz done double dealing which will surely come back and bite them.
Jyoti and Ashish do you guys work for prestige builders. Neither of u have any knowledge of the agreement between adars and assetz. Or you are very negative buyers who consider every news as bad news without reading it in complete.
You have my email ID to reach out for verification.
Sanjay,
I don’t work for Prestige and really would like Assets on top since am planning to invest in it. All I am saying is, something is fishy. Since Assetz didn’t share copy of so called Easement agreement. What is shared, is a draft of the agreemnt., which has no legal value. Why amis Assetz so afraid to share the copy of agreement if nothing is wrong?
I have been meaning to visit office and not shy to hire a lawyer if need be. I am just using this social media to gain insight if anyone has seen actual agreement?
Dear Ashish,
Yes tomorrow if the Assetz residents find a new way for drainage or feel like they need to take back the land then as per the legal laws they can do it. There might be a legal battle to be fought between residents, adarsh and Assetz. But I guess the residents will have power to win over the deal done between Adarsh and Assetz since it is without any consent of the residents and loosely based on a open ended clause in the agreement.
Anyone actually seen/have the agreement copy of adarsh n assetz?
Its doesn’t matter what we talk about here on forum, unless we see it on paper.
If Assets has hardcoded rights of this land to adarsh, its double dealing and clear case of fraud.
Yes all buyers has copy with the plan diagram. You can ask CRM team and review it with your lawyer.
There is no use asking it in forum as most people didn’t read it made their own assumption . Share your neutral view when u get chance.
Ignore my. Sarcastic comments earlier.You can reach me if CRM team doesn’t cooperate ( ) they should provide clear information to prospective buyers.
True. Most people don’t. But I did. What Assetz has shared is a draft copy and not copy of original agreement. I will definitely touch base with Crm.
But this is a forum for both positive and negative comments/concerns. I will get back and comment if I find everything right as well. So that people know its okay. But will put negative as well if not satisfied.
Yup u r prospective buyer so ur feedback would be more close to truth. Look forward to ur assessment.
So assetz turned out to be a 3rd class builder. They have managed to fool the buyers into giving up around 5000sqft of property from east point for a road to be made for a neighbor apartment. Beware of buying property from Assetz, they will take your money and keep you running around. Also they have delayed the possession by more than a year and even now there is no possibility of being able to live in the apartment before at least march 2017. Huge work is still in progress.
There is a fight going on between the builder and the buyers at the moment and looks like the buyers are going to lose their hard earned money.
With the land parcel of 5000 sqft given out…will this result in a devaition on the original plan, Will now OC and registration of the apartment possible ?
I am an assetz owner and I believe this was not a bad decision to discussion and complain publicly. Actually 9597 sqft of Adarsh and 4798 sqft of Assetz land on the boundary between the two properties is used to create common drive way separated by an elevated flower bed and heightened by the grill work. The land will continue to be owned by respective properties but the advantage of this agreement is to both the properties : More breathing space ( less big walls ), more road space (21 mtrs) and most important allowing the water to be drained out towards the Ring Road via the Adarsh Property in a flood situation at Assetz.
So while there are other genuine concerns like delay in project handover, this one is not a serious enough matter to call it a fight. I personally believe it was a good decision and understanding between the two builders as the future residents of Assetz need to enjoy the sprawling road and other commercial infrastructure created by adarsh.
Regards
Sanjay
Dear Mr Sanjay,
First of all you are not a Assetz east point Owner but an Assetz employee.. because till date we have not met a single owner from our group who speaks in favour of what you said. Secondly, Assetz east point owner do no want “less big Walls” and “more road space” because they will not be allowed to use the road by adarsh. The what is the point of road space.
Please stop giving false excuses and come our clean to your customers. This is the least you can do.
Regards
Rahul
Dude, I am a customer.
Reach me at , I can provide you other verification details.
I based out of California, so can’t attend local meeting. I can provide my number in email.
I purchased Assetz as I fell in love with this project. So my views are biased. I have properties from other builders but Assetz so far has been my favorite :
– Exceptional living room view for Flats like mine facing the Adarsh villa side
– Excellent 2.5 BHK design with ability to convert it into 3 bhk by paying Assetz 70k for a wall and door. Good kitchen and living space design .
– Pool on the top floor , again unbelievable views.Parks on mid floor … the architect is a genius . Not a stupid architect at Adarsh who is building flats like Hospitals.
I believe we are making fuss out of this non issue of sharing land with Adarsh. If we don’t agree with it how do you think in the flood situation the water will move out of Assetz ?
Why would adash share their road if that is their share of land ? is assetz giving their road to adarsh ?
I believe we should spend our energy on other important things than to take fight with builder for these small issues. I already see the garbage cute issue blown out of proportion and in the end I am pretty sure the people on higher floor are going to regret this decision.The cute refund of 5k per customer is peanuts.
Important issue in my opinion is to work with builder to track that he delivers on the beautiful dream he sold us with good quality.
1) Making sure the top floor pool has good safety and no leaks
2) all amenities are build with 5 star standard assetz is famous for
3) Customers are invited at regular interval to review project progress and do onsite visit
In my opinion the current issue is blown out of proposition.
Regards
Sanjay
Hi rahul, is there an owners group u can add me to?
recently we noticed a road construction in the south side of assetz east point. As we dig further found under the table deal between Assetz and Adarsh, where Assetz gave a 5500sqft of land in the name of storm water drain from the UDS to Adarsh to build this road. Even as owners protested, Assetz completely ignored and gave the land without consent of it’s owners. It’s a very unprofessional behaviour from the part of assetz. Even we raised our voice, they are not responding. It’s a scam and like to warn the people not to go for Assetz anytime. You don’t know what the surprise you may get later. same state in all the other projects. Careful when deal with assetz. We lost a land worth 10 crores and the trust that we had for Assetz.
Again , no land is lost. This is stupid bluff created by some of the buyers who don’t understand the issue.
If this agreement was not there , then it would have been impossible to push flood water out of Assetz toward the slope of Adarsh.
Both the builder has given their part of the land to create a common path across these properties to allow natural underground water flow with a 21 meters road on top. In fact Adarsh has given more land than assetz to create common drive way separated by an elevated flower bed and heightened by the grill work.
There are other issues like delay in possession and access to right side Adarsh road. but this issue doesn’t look serious to me.
I am planning to sell my 3BHK 1710 sqft in at 6th floor inward facing East Point.Intreasted buyers can drop me a note at . Its move in phase.
Hahaha….This cheap builder came up with some new surprise to owners. First they tried to cheat customer with giving some low quality fixtures. But did not make money for them. They failed in their plan.
So they thought lets play something big. They have given their land….. Not actually their…….. It’s east point owner land to adarsh on the name of easement agreement. And what they r getting in return……hahahaha… Nothing. So interesting story
I have never seen this cheap mentality to make money. They spy owners group with being their part with fake name, … What and all low grade things they do I donot know.
How can you sell owners land without their permission. We paid you price of high quality builder
… Please stop fooling ppl. Realise the power of ppl in India. Stop testing us….
Mr Ben ……Dear….This is not a way to make money. Cheating people will not make u rich.
Waiting for CRM email to threaten us on all rules and regulations after posting this review. ? Or some other reply to this …saying I am a fake person to give this review. I am a poor buyer of this property …. Who is regreting his investment in this cheater company.
There seem to be a Wine shop bang on the front of the main gate. Is this a temporary establishment or a permanent one. Are liquor shops allowed to be opened so close to residential spaces ?
keep in mind this is a village road. The village has existed for centuries. So there will be numerous small establishments on this road
Hey Aravind,
Yes, you’re right. There is a wine shop in front of the main gate. This was my concern too, however Assetz are well known for their strict security across, and I hope this will will be taken care of. Plus there would be lot of CCTV’s, incase of any unprecedented incidents.
Not sure if the wine shop is permanent/ temp. Most wine shops are located close to residential areas, and it hasn’t got me worried yet.
Interested to buy duplex 2170 … Anyone reselling , please send a mail to
Hi all,
Just visited the model apartment today. Not too bad. They are showing me the actual flat on Thursday. I am a a serious buyer looking for 2170 sft 3 BHK duplex. If anyone wants to resell and the price is right, I will most likely go for it. Please contact me with your apartment details if you plan to resell.
Thank you,
Thank you for letting us know. CRM is not allowing any existing buyers to visit any flats as the buyers raised several concerns earlier. But for new buyers, they are shamelessly showing actual flats.
Hi,I have recently bought an apartment at East Point. I was not allowed in my flat as finishing work and schfolding work was in progress. They showed me the model flat at site before booking. This is not a big issue and is followed by all builders.
Hello All,
My name is Ashok Pai and I have Duplex apartment at Assetz East Point with an area of 2180 square feet. My duplex apartment in on the 4th floor and is facing the road. The entrance is East facing.
If anyone is keen in buying a Duplex apartment at Assetz East point do write to me at .
I am keen on selling my apartment. and offering a cheaper price than what the builder is selling it as on date.
Assetz East Point is at a walkable distance from major software company on outer ring road like Intel, Cisco, Accenture etc
Thank you,
Hi Ashok,
Is the flat still available for sale? Thanks
Is the flat still available for sale?
Did east point get occupation certificate? I heard from a friend that the chances of getting occupation certficate is low. He gave some reasons which i cant quite recall – but something like deviation percentage is one of what he said
Yes there are deviations as one corner of the plot is actually reserved for a public road , getting OC might be difficult . There are other issues with Adarsh on the road too . Now the builder has sent owners exorbitantly priced woodwork quotation these guys have workmanship of a 3rd tier builder but demands are like established tier 1 players. Don’t touch their projects without proper due diligence and add at least a year or two over their promised possession date . East point was supposed to be delivered by October 2015 as previous emails from Assetz , then they made it March , June and now September 2016 . The Assetz management rarely replies to emails and their CRM as usual copy pastes same email replies.
Recently CRM sent an email saying the project’s possession is delayed till June 2016. So 9 month delay at the moment. All the pending instalments are already collected from all buyers, so at 10pc interest rate, for a 500 crore sales, it is about 5 crore interest loss for the buyers ! I guess the money is being sent elsewhere in projects like Lumos, Marq etc at the cost of EP delays. Even a newcomer like Assetz is going through the traditional unethical practices of real estate industry !
Hi, me and my brother are owner of 2 apartments at EP. We have received communication on handover date and have discussed with CRM team. There has been no delay, Assetz has infact upgraded the specifications to ensure quality. CRM team have been helpful in explaining me the delivery schedule. I suggest you should write to for resolution of query.
I am really amazed at the level of comfort on which the comment is made. Assetz has always been very fussy about any inputs from the investors and always had their way including the difference in basic dimensions of the promised flats . There is a delay of more than 9 months and no one finally knows what type of fittings are being put inside apartments as no investor is allowed to even see his flat even after paying full money. This is really great that even then people do not see anything wrong????
I am owner of EP Google group. This is not the case at all. assetz has been transparent and accomidative. We are in constant discussion with Assetz team . The have been receptive.
As far as I know the Google group of which I and another 200 people are member is not definitely owned by Mr. Hiren. I do not know which group you are talking about. This group of 200 members only took head on discussions with Assetz .Can you deny the fact that the final dimensions of the apartment are less that what is promised in the agreement and you are not even allowed to enter the gate of property in the name of Safety. Assetz is worried that people will raise more issues.
Hi Krishnan, I am part of the assetzeastpoint group, I hope you are not first time buyer to create soomuch of panic and confusion. You need not worry so much on builtup or carpet area. Builder sell super builtup area and do not sell carpet area they all maintian effeciency of arround 70% carpet area as industry standard. Assetz has allowed site visit to me and others for a period. Even i witnessed it and found that the issue was all for loss of plastering area. I have seen emails of Mr Hiren and others which led to lot of panic and confusion amoung buyers. I suggest you should deal with issues for resolution.
This is a fake Hiren and his comments are misleading.
Krish, I am owner of flat and part of the e google group. I do not agree to your generalized negative comments. We are well aware of the fixtures, fittings and the construction status. Assetz has been accomidative and has been cusotmer friendly. There has been no delay of 9 months. Sahre your email id i shall add you to the group to get better update.
Hi Prasad,
Can you please add me to the google group? I have a 2.5 bedroom flat booked in East Point.
My email address is
Thanks
Shubakar, Prasad, Fake-Hiren, Please provide your phone numbers and email addresses to cross verify your details with owners list. I am being anonymous in fear of facing Assetz backlash. As you are supporting Assetz, may be you can reveal your details first. If you are part of CRM, please note, you are only infuriating actual owners with impersonation and we will not tolerate this, and will adopt legal recourse.
Stop the nonsense and character assasination. Nor I am fake nor I belong to assetz. I and my brother am an owner like you guys. So stop questioning my identity. Some guys like you proclaimed as core commitee and decided worst tiles. What right did you have to decide on behalf of me. Are you paying for my flat. Stop acting as if you own our apartments.
Prasad – Please search any real estate website. Original possession date shows Oct 2015, and in some it shows as June 2016. 9 months or even close to 1 year delay is true. I am staying in a rented apartment, and made plans to move there earlier. It is creating issues for me now. Btw, multiple people in the groups also mentioned of the lowest carpet ratio being provided, when compared to other A class players. I am with you on the tiles part on the color, but Assetz were providing an inferior ones anyway compared to model apartment. After the whole scrutiny Assetz stopped existing owners to enter the premises, that too after collecting all the money.
Assuming you are really an owner you are the kind that is a bane of this society and nation; you are lazy enough not to raise issues because you and your ilk do not have a spine but when others stand up and make decisions for themselves , you and your lazy brother being beneficiaries in the process have temerity to poke holes and complain ? I am sure you are one of those usual jokers who swat flies in Assetz office whole day and have no real work but post fake reviews here .
Hi,
i am the owner of 3 bhk apartment in EP. please include me in your google group. my email id is :
hi,
i recently bought a 3 bhk duplex apartment in east point, please add me in your google group.
Rajib
Please add me to the google group .. Owner of Apartment 5102.
Please add me to the group ..
Hi Rajib,
At what price did you close the deal
I do not know what e google group you are talking about. There is only one platform on google groups of which I am a member , if you really need I can recommend you to the group but you have to share your all genuine details. I am not here to praise Assetz, because as owners we are a frustrated lot. Three years back we preferred Assetz compared to other A class builders like Prestige who were offering flats in same area at same prices. We had a firm view that being a new builder , Assetz will offer us a good deal but it happened otherwise. It is not that everything is bad with Assetz but it is this petty corner cutting they are upto which is hurting all of us. Whether it is dimensions, fittings, size and brand of lifts anything you take they are not up to mark and worst part is that all this is being justified . At this stage we can not pull out after staying invested for so many years.
plz share your mail id so that i can send you my flat details.
Kindly send a mail to indicating your details including number ,type of apartment and date of joining. They may do a background check before admitting you .
Hi Krish can you please refer me I am onwer of a 2.5 bhk flat and bit frustrated with Assetz as date promised to me was march 2015 and not sure what kind of material they are using.
My email is
please add me to the east point group . I am a flat owner in block B2.
regards,
Shalini
HI ,
I recently bought an apartment in EP, can you please add me to the google group:
Hi Abhiyan. Do u know any WhatsApp or any email group of assets owners. Plz add me . thanks
Hi,
Is there any owners group (google or whatsapp) made for this project ?
If yes please include me..
My mail address is
i have booked a 3 bhk B4104
HI All, I am moving to Bangalore soon. I currently work in pune. I am thinking of buying a 2 bhk house near my office in marthahalli, ORR areas. Who is a good builder in these areas? Open to discuss…..
hey you can check out projects like prestige jade pavillion, assetz east point, Nitesh Cape Cod. I personally went with east point. You can also take a look and decide which one suits you best.
Unlike Pune, you’ve water shortage in many apartments and have to depend on tankers. Also traffic jams are a big concern in and around Marathahalli. As the property prices are stagnant, suggest you to perform a thorough analysis and take a knowledged decision.
Please do be in such a hurry buy apartment in Bangalore for living ; inventory is in excess here best thing is to live on rent for first couple of years see if you fit in and like the city , by this time you will also come to know which areas are better for you . Real estate market is kind of slow I bought in 2014 and am still getting more or less same price even today so wait don’t be desperate as that will only play into the hands of builders.
Hello. I am looking for a 2.5 BHK at Assetz East Point on Resale. Anyone interested please share your contact details as early as possible. I am quite serious about the purchase if the price is right. My contact details are
Hi,
Looking for a 3BHK in East Point , Let me know if any resale is available?
thanks,
Ashish
My email id is
Hi,
you can reach me at . i am planning to sell my 3 BHK.
Hi
I am interested to buy 2.5 / 3 BHK. Please share details to mail id: or
call me at 9008916633.
Thanks and regards,
Ashish
Bangalore
9008916633
Hi Ashish,
Please get in touch with me at , I am planing to sell me 3BHK.
Regards,
Sunil
Does anyone know the latest and greatest handover date? Earlier Dec 2015 was fed to us, now it is changed again to June ??? Please throw light on this and any comments on this as well. Thanks.
I didnt buy in this project but would like to share info i know.
There was a huge hoarding erected near my office, ecospace bellandur. And the hoarding says 8 months to possession. Couple of my colleagues purchased in this project and they aren’t happy for many things. Quality of materials being used, delay in possession, assetz people being rude and unresponsive after payment are few to name.
On the contrary. I am the buyer of apartment and happy with assetz and have had good experience. They have been transparent and professional.
I had checked with my Sales rep at Assetz last week and he updated me that date of completion is June 2016.He’d reassured me that the date of completion will be kept & there wudnt be any delays.
Dear Mr Bala,
We would like to update you that DG power back up for apartments in East point is 2KW .. This power backup shall allow you to enjoy uninterrupted power service with ease.
Thank You.
2KW is on the low side. Typical 3 bedroom should 5-6kw
Bescom power for 3bhk is 5kva. Why DG backup has to be 6kva.
2kva DG backup is sufficient enough to run all lights, fan, all electronic loads, mixi.etc.
Very few apartments provide backup to higher amp loads such as geyser, oven.
This is what I read in Prestige Sunnyside Brochure.
Sufficient power outlets and light points provided.
5 KVA power will be provided for 2 BHK.
8 KVA power will be provided for 3BHK.
10 KVA power will be provide for 4 BHK.
a single 1 ton a/c is 1.8 kw
a single geyser is 1.5 to 2 kw
a fridge is around .5 kw
etc
you can do the math
Most of the apartments don’t give DG (generator) backup to these equipment. 5, 8, 10kw are regular Bescom supply.
DG backup inside flat is for lighting, fans, electronic items etc.
Just because Asstez does not it does not mean others don’t too my 8 year old apartment in Marathahalli has backup for even Geyser , if you get time read specs of Sobha or Prestige and Puravankara they all give enough backup to run at least 1 high wattage device in a 2bhk flat .
DG backup for Geysers….Joke of the year!!!
I wish it were a joke but then as they say ignorance is bliss , I have stated a fact here if you can counter it do so , shoot and scoot is a nice tactic of liars and thugs when someone above posted specs from Prestige you claimed “Most of the builders do not give DG backup…” line when I posted how my 8 year old apartment in Marathahalli has a DG backup for Geyser you call it a joke , actually the joke is on you for not only being an ignorant but lying as well.
On the low quality fixture debate, are there apartments in the actual building (Not the model flat) which are ready with all fixtures which can be visited? I plan to pick a house there but looking at all the comments, now i am really thinking hard…
Hi, we have model apartments that you can visit to get a clear idea about the quality of materials used. The fittings and fixtures used are the same as what have been mentioned in our project specifications. In the event of non-availability of certain brands, we use alternative brands of same quality. Our sales team will be happy to assist you with queries.
Hello,
I have broadly read two categories of comments .. the recent most 2-3 comments say Assetz East Point is a good project while the ones posted below those sound negative. Anyone who has recently booked a 2.5 BHK flat. I wanted to check that and look for next steps. Any words of wisdom?
hello rajesh. I have bought an apartment at east point 4 months ago. A 2 bhk though not a 2.5 bhk. It is after careful thought that one invests and this is exactly what i did. Good and bad comments will be there for everything. I did a site visit to get a clear picture. I would suggest you do that as well so your doubts will be cleared. But my personal opinion is good about this project.
Hi Mr. Agarwal,
Even I am looking to buy house there. How much is the pricing?
Regards-
Manish
Hey Manish, last time i chcked, the rate of east-point was around 6200 sq/ft. Check with them for availability as only few units are left. Project is apparently nearing completion.
Hi
I am looking to buy 2.5bhk flat in Assetz East point as I liked the project plan and is quite spacious. But it is landlord share. I am not sure if all the documents are legally correct or not. Has anybody did legal document verified by any lawyer? Anybody here who is holding landlord share flat?
Thanks
Mohit
East Point is very good project. I have landlord share apartment. I have legally checked the property documents. It is legally free and marketable title. Land lord is Mr Lakanna. He is very famous landlord in the area and has done many projects with builders like Mantri, Prestige.
Thanks a lot Pradeep.
Can you pls share your email id or number for contact you? I want to discuss few things before I go ahead for booking.
Thanks
-Mohit
Hi Mohit. I suggest you get in touch with their sales or customer care executive to get complete info on the project. That helped me a lot when i bought my home. They are quite prompt and courteous in responding to customer’s queries. Contact – baktiyar 09731536818, person i got in touch for my home.
Hi Pradeep,
I also bought a landlord share recently. Did you do the document verification from a lawyer? Are there any type of any issues when you take a LL share? Can you please help let me know regarding the same and if there is a Owners group where I can join.
Thanks!!
Hi Subhro,
Do you mind sharing at what rate did you book?
I am also interested in this project but not many Flats are available with the builder, so wanted to checkout the Landowner share.
It would be great if you can share the contact details thru whom you booked the landowner share.
Thanks
Hi Soni,
I booked a LL share through their marketing team. Contact person is Mr Mahesh. He can assist you with the availability and process. He sits in their sire office. Builder share flats are very few, that is the reason we also booked LL share. Infact in LL share , you get good flats with nice view.
Regards,
Subhro
Thanks Subhro for sharing the info.
Do you mind sharing your mail id.
I wanted to have some more information before going ahead for the booking.
You can mail me at
Regards
Deepak
East Point is very good project. I have landlord share apartment. I have legally checked the property documents. It is legally free and marketable title. Land lord is Mr Lakanna. He is very famous landlord in the area and has done many projects with builders like Mantri, Prestige.
Came across this portal while searching for reviews. my dad is planning to invest near ORR which is close to my office. my collegues recommended me the assetz east point. i had been to site visit. i was pretty satisfied with the site area and the project plan. Anyone who can give more feedback?
if you’re priority is to be near office, east point would be a good option. The plan really looks good.
When you say invest, is he planning to buy and rent it out or sell it before ready for possession??
Hi,
I am looking to buy a 2.5 bhk in East Point. If anyone wants to sell drop me a mail @
The 2.5 bhk r quite spacious. The one facing Adarsh has magnificent views. Of the 3 other builders I have worked with Assetz seems to be most reasonable and cooperative.I booked my flat after 3 months of research and my only regret is I should have booked it on my fist visit. I have minor issues with kitchen, Assetz is looking into it.This project has great location, amenities ,views and most important ahead of schedule. I would highly recommend this project.
Owner of C1021 apartment.
Are you sure, you want to buy with Asset East Point, after going through the people comments in this forum?.
Considering Mantri glades has delayed the projects by 2+ years, I am still quite happy with Assetz
What a coincidence Prashant, one of my relatives brought it in Mantri glades, they used to say same thing “Some other builder(SJR\Bren i think) delayed 2-3 yrs…” “Someone else got cheated…” “someone else paid morethan what we paid…” “…So, we are doing better…” kind of crap, and they were in soup later. Fortunately they were rich and didnt matter to them by end of the day !
Kudos to your attitude, but donot let that lazy attitude make you stuck with any project.
@Rajesh A
It’s easier to fool people than to convince them that they have been fooled.
— Mark Twain
Most of the investors live in fool’s paradise, only to HARD realize later how they are waylaid by the builder.
What if I have lost one eye, someone else has lost both. So I am better!!! There are lots of people around who’ve both eyes and hence are better than you.
Wake up man, look around if you’ve got a chance to save your eye (there should be till you fall into the trap).
Latest news about Mantri….
Mantri is fined 118 crore for building without clearance and it happens to be on the lake bed.
http://www.newindianexpress.com/cities/bengaluru/Mantri-Developers-Examines-NGT-Order-Bellandur-Buoyed/2015/05/09/article2805253.ece
What do you think about Prestige Misty Water ??
http://harshasagar.com/2012/09/09/prestige-misty-waters-location-price-review-public-opinion-more/
Let us know your view – So far all looks good they have all the BDA approval.
A few days back I had written about the poor finishing of the apartments. The fears have come exactly true. Flat made ready by Assetz is nowhere near 1 cr plus the price investor is paying. The quality is substandard of all the items used in flat and is nowhere near the model flat. Assetz is cheating the investors but they will be such big cheats no one imagined.Mr Ashok are you listening. Assetz have proved how builders can take investors for a ride. Future investors please stick to A class builders only if you want quality and do not fall prey to such new name who come from other countries only to make money. Can they do same type of cheating in their own country.
The wooden flooring in master bedroom is highly sub-standard.
Sorry to hear this. But in a day or two, marketing guys will come here and call you both “fake” !
i came across this project based on reviews and checked with my friends too..i was not sure about the project…but i spoke to the realtor that i know and he suggested Assets East point because of its location..when i asked about the house and its finishing.i was informed by assets people that the model house does not have genuine fittings because it has to be removed…when they are telling people i don understand what could be the issue…
Model house just an illusion. They have screwed up an actual flat. They used sub standard components. Visually also there is nothing you can feel premium. They proved that they are not CAT A builder.
Dear Mr. Krishh,
Greetings!
Being an Assetz representative we are keen to meet you and have a one on one discussion with you about the numerous reservations you have on East Point. We would be more than happy to address this in person and understand the reason behind so much negativity.
Please do let us know your identity to reach out to you.
Thanks & Regards
Assetz Representative
Hello Mr. Ashok,
Donot try to show sofastication and waste time in meeting people on social media. It will not improve your apartment quality.
People are not fool. Now they will not believe in fake promises by you. Giving a quality product to coustmer which you promised earlier will help.
Using tiles of cost rs 60 in 1 crore apartment and trying to prove that you are grade A quality builder will not work.
Better waste your time to think how to improve ur quality.
Hello Mr Ashok Kumar,
Why this 1-1? Why is your Group hesitating to clarify with concrete facts in this open forum, which would be beneficial to your project only? The issue is very straight forward – most of the customers are saying that the actual specs is sub standard as compared to what was shown in the model apartment during booking. Why can’t you list down the actual specs provided and close this issue once and for all? Why this 1-1? Are you trying to negotiate some deal with some selected group of customers in order to minimize damage?
Regarding Assetz being a CAT A builder, it was always known that they are not. If someone had believed that and are now finding themselves in a mess, you have only yourself to blame.
Dear Mr. Ashok
Making a statement on this portal is not going to solve the issue. As you know we are meeting you and your full team but the response has been pathetic. None of you are interested in addressing the core issue of third grade quality. As usual with Assetz very vauge and filmsy reasons are given for everything. Please remember that Assetz can not go very far like this .Once credibility of brand name is gone ,you can not bring it back.
So please look into the reason and provide at least what you promised if not better.
Hi,
We have booked an apartment by giving the token money but we are yet to sign the agreement.
We have been requesting them to show us the actual apartment from quite some time now but they are making excuses. Is the quality of the actual flat really bad?
Megha, I m surprised still u r confused with y they are not showing actual apt. By spending near a cr if you are ok with third grade specs then pls go ahead and book it.
I went and saw the actual flat today..
I was also shown a 3BHK unit in A1 Block where they have put most of Doors,Switches etc and the quality of products used looked fine to me and my family.
Hi Megha, Not sure what you mean by saying that they are not showing the model apartment…you can visit the site anyday and see the model – why have you not done that? Are they keeping the model under lock and key? Maybe there is something of precious value in the specs…
Megha,
The quality of the internal apartments is ok but has scope for improvements and this has been taken up with Assetz. Don’t go by the negative hype being created here or the positivity of the sales team. If you have booked for a 3 bhk/duplex you should insist on being showed a sample actual flat, maybe not yours. Currently they are making modification in the sample flats based on feedback, so it might take a few days for them to finish the modifications. The 2.5 bhks are not really ready yet(tower 7-10).
And once you have done the agreement do join us on the google group.
cheers
-Amit (10074)
Hi what is our google group.
Can you add me.
Tower 6 ,
flat no -6004
thanks,
Friends,
Do we have Google group for East Point? If we do, request Moderator to please share the details so that all the owners can be part of it.
Thanks
Hi Amit,
could you please add me to the google group please? I have booked a 3 bhk.
– Meenakshi owner @ a flat in Tower 3.
Hi Amit,
Can you please add me to the owners group. I bought Flat Number – A3048(Tower 3).
Thanks!!
Hi,
Please add me to the owners group
I booked flat iB4104
Thanks
my email address is
After reading the comments i too had the same feeling becuase i ve bookd an apartment with this people…but i went n met mr mahesh who is the salesperson at East Point and he showed me the model unit and the madeup apartment…it would do u good to take an action…
Hi All,
I am planning to book a 3 BHK with Assetz, had a talk with one of their Sales Manager- Mr Mahesh. Some concerns I have, which if any one of you can clarify will be of great help-
1. Are they providing Grade A quality specifications in actual Flats – what you expect from A Grade builders like Prestige/Sobha
2. They are quoting around 1.3 cr for 3BHK- how much of it is negotiable?’
3. Are they flexible enough to make minor modification in plan if you demand?
4. Lastly is this worth a Project spending 1cr plus.
Any help on these queries will be appreciated. If any one of you can mail me,it will be great-
Regards,
Tanuja
What made you choose Assetz East Point over Vaswani Reserve or Prestige SunnySide in the same stretch? These projects are almost completed and you can get a ready to move in (or move within 6 months) here for the same price. Lot of properties are coming for resale from the investors. Why not go for them? When you say 1.3cr , is it all inclusive?? More details will help.
Yes, they are saying 1.3 all inclusive. Prestige Sunny side is around 1.4- 1.5 cs range as its almost complete. Vaswani, I have not check, so cant comment.
Have you bought any flat in that area?
Yes, at sunnyside for end use. If you negotiate you should be able to get sunnyside for 1.35cr all inclusive.
I guess it has to be all-inclusive if it’s at 1.3 crores. Also, i would say East point is better when it comes to specifications and timely completion of project. I read reviews about Prestige that says that they are slow in their delivery of project and also the CRM team does not answer queries on time.
Why not buy Prestige Jade with better specifications,amenities and less clumsy project which is just opposite to Assetz … 3bhk will be 1.3+ and possession in 18 months …
Prestige is faar better builder than Assetz in quality and other aspects…
Just my 2 cents !!
all d best !!
Thanks for your reply. Yeah I am considering Jade as well.
Just that I like Assetz floor plan better than that of Jade’s.
Yet to decide!!
I think in terms of Specifications and materials used in Prestige and Assetz are the same. But Assetz is better because they will hand over the project to you end of this year but Prestige may take 18 more months. You will start getting early rents if you are an investor, hence keeping returns as base for your investments Assetz East point is the right place to invest or buy.
Hi Tanuja,
I think for such details you should talk to sales people from Assetz they would explain the property details with you. Before i brought my house with these people, they gave me quality materials like tiles, fixtures like any other A-grade builder & it is transparent in it as they have build a mock up flat in one of the blocks, please talk to the sale team to get the final quote, I’m sure they are negotiable. It is worth investing in this project due to the location & the property will appriciate in no time.
Folks,
I am planning to book 2.5 bhk at east point. I have few queries which are holding me back. Appreciate if you guys help me out.
1) What is the water situation (both Cauvery & borewell)?
2) Will the adarsh road be open to public after adarsh apartments are completed ?
3) What is the carpet area for 2.5 bhk ?
1. It is same as the case with any other builder i.e. pipes will be laid , cauveri water will come when BBMP releases it to the apartment. There are 2 or 3 bores but with the kind of construction going in that area I would not count on it much.
2. There is a barricade on both ends currently the road is open but in future it depends on Adarsh , legally they cannot block it (as BBMP does not recognize such closed layouts) but it is Adarsh’s land so it is a grey area .
3. The website has a 2.5 bhk layout plan check it out, I for one do not believe in going by carpet area as a whole number it is only good for arriving at cost you should check the layout and see the amount of usable space and judge for yourselves.
1. Water: No cauvery. Borewell no idea.
2. Adarsh Road: Its an on and off discussion. There is no clear answer yet.
3. Carpet Area: Comes around 68-70% when we guys did the calculations during booking.
-Amit M
Im not very sure about East Point, but there is no way any project in this area is going to get cauvery water or borewell water.
90% borewells dried up long time back. Please note, yearly rains will take ~8-10 years to get water levels up. New borewells might work maximum of 4-6 months.
And water mafia in outer ring road will not allow cauvery project to happen.
For carpet area, as structure is already in shape, i would suggest you to measure with tape before taking any decision. If builder doesnt allow that because of “safety reasons”, then something fishy is happening, you better keep yourself to be in safezone and stay away for this project.
No Caveri water and they got 2 bore-well that’s all
Hi Guri,
We have a resale unit of 2.5 BHK Adarsh villa facing in case if you are interested call me @ 7022577888
Regards
Abhilash
Good news !!!
lock- in period is over, resale started from 18th April 2015. any idea what’s the price is going on for resale ?
Seems there is lot of negative propaganda going around on East Point both by people who already resold and/or competitors.
May be it did good for people like me who bought for end use as we got confirmation/assurance from Assetz on brands and they are even scheduling site visit this month end.
Below are confirmed brands and hope Assetz will strictly follow these.
1) Nitco tiles are confirmed and Nitco is in par with Kajaria in quality as per my knowledge.
2) Jaguar fittings for all toilet plumbing fixtures/ Hindware for all toilet sanitory fixtures
3) Jindal for windows
3) Berger paint for interiors
4) Elite for Door hardware
5) Kitchen layout is not changed for 3 BHK and I heard for 2.5 BHK they gave option to choose from old and new layouts.
6) Got confirmation that there is no change in elevation and window sizes (Assetz denied rumors there is any change on these but little bit apprehensive after all this negative feedback)
I hope Assetz will live up to expectations and deliver as Tier 1 builder which is what I hoped for when booking at East Point
The way you’re extolling praises on Assetz everywhere in this forum, it seems you’re employed with Assetz.
I agree with Prasad. I have bought in Assetz Eastpoint to live. I am happy with the rapid progress. Looking forward to the site visit. Haven’t received any confirmation of the same though.
Hi,
Has anyone booked the penthouse @ EastPoint? We are looking into and wanted to see if there were any who might have booked and how has the experience so far. We do see varied comments down this thread.
Thanks & Regards
Srinivas N S
I have innvested in East Point too. Apart from the flat, I like the fact that I can walk to my workplace is a great idea. It’s great for those working in EcoSpace because its very closeby.
Hello,
some positive news came up in TOI recently….
Singapore Equis Fund investing $116 Million in Assetz budget homes…
http://timesofindia.indiatimes.com/business/international-business/Singapore-fund-Equis-invests-Rs-720-crore-for-Assetzs-mid-income-housing-foray-in-India/articleshow/46225916.cms
Brand Specification at East Point
https://lh5.googleusercontent.com/-o9FMxHDjZkU/VP1vZ1LU4WI/AAAAAAAADFk/FhNuqI7o1A8/s1600/Assetz.png
Assetz raided by tax officials. Please avoid Assetz till their financials are cleared up.
http://www.bangaloremirror.com/bangalore/crime/Assetz-group-raided-by-taxmen/articleshow/46479762.cms?
Shobha also in 2013 ..how did that affect the customer ..
I asked for making the internal Kitchen wall 3 ft only in height of my booked flat in East Point but Assetz is denying to make the modification even when they promised me before I booked 3 months back. In-fact their ridiculous reply is that they will handover with full wall If I want I can later break it!! Which means waste of time, money and effort for both side, very unprofessional and customer un-friendly attitude from Assetz.
I can understand your frustration, but L&W (Singapore contractor) is very strict with their timelines and planning. They are working at the site even during night time.
Not constructing a wall saves money/effort but eats away time in terms of re-planning/exception approvals/change management. Everything is precision managed, for faster delivery. MRP’s are run quite ahead in time. Plans copies are printed etc, well in advace.
Btw, I also thought to have an open or semi-open kitchen during my booking, but opted to have a closed one instead, as I wanted privacy/peace of mind while cooking.
Hi Guys,
Dont you think this project is pretty much inside from ORR. It is almost 1.7 km which is not walkable by any means if once has to catch a office bus or volvo. Same goes with Jade Pavillion and other projects. Sunnyside is still 0.7 km which one can walk 🙂 🙂 …
I am looking for something to live in and not invest.. looking at whitefield or ORR …My office is at ITPL and Spouse office at ORR…
Please advise …
Dream Home
+1. You are right. Public Transport Connectivity is one of the important reason for me choosing PSS over other projects here.
Surprised people making 1 crore property decision based on public transport feasibility. Even if you save 2 lakhs by buying inside, you can buy a nano car and park it near a garbage can on main road. Don’t understand this public transport logic.
In my opinion, Marq is very strategically located and as a resident of Whitefield i believe any apartment in it is good to live in because its close to many workplaces such as ITPL which is just 30 minutes away in traffic
Hi It appears a lot of flats are up on sale from Land owners account , the builder has mostly finished its quota. I would like to give all investors a word of caution. Please do not go by the words as they are from Singapore or builders of VTV. The investors in this project Assetz East Point incl me are a frustrated lot.The quality of fittings in model flat and in actual flat are totally different. They are hell bent on using lowest class fittings that too in the name of quality.UPVC doors are being replaced by aluminium doors. Kajaria tiles are being replaced by NITCO tiles. In the name of aesthetics kitchen design is changed to save some cost on plumbing. Garbage chutes are removed in name of cleanliness. We still have to see electrical and sanitary fittings.IT appears some unbranded stuff is being pushed. Investors are not allowed to visit site in the name of safety. In short ,worst than any C class builder. So if you put more than a crore , better be informed.We do not know what is further in store.All of us who thought that what we see in model flat is what we get are all proved wrong.
Hi Raman,
any idea how many flats the land owner is having and what price is being quoted?
on the fitting in model vs actual flat, what are the differences you are seeing?
do you have any formal email from assetz on these changes in brands and specifications?
More than 50 flats in all possible locations and types are available.The base rate being quoted is 5990 per sft plus taxes. The differences between model and actual flat are already given above. Some of the changed items are already placed on one sample flat being readied inside the complex.A number of email exchanges are taking placebetween investors and builder . Assetz is not realizing the fact that they may save a bit of money by doing this but what about credentials of the company.When it was promised that flats will be as per model house then why this type of cheap backtrack?
I believe you are an existing customer (and NOT fake) and if so you should have you received the latest email from the CRM team on the finalised brands for Eastpoint. If not, check with Assetz.
I am quite surprised on your concerns as the finalised brands for Eastpoint are premium in the market.
seems like you were jumping the gun before actually understanding the brands which are finalised.
Krissh works for Assetz. 🙂
At least Assetz have got the hiring right – it would really take ‘superhuman’ effort to rectify the situation….!!
We am very happy to suddenly see one Mr. Krissh propping up on all Assetz related sites at Harshsagar in one go.Is it a character out of Hritik movies who is trying to solve all issues for Assetz? Surprised that he has flats in all projects of Assetz and does not see anything wrong in any of the activities so far. It is good that Assetz is on a conscious brand saving exercise.We only want Assetz to deliver what they have promised. The mail reflecting few clarifications from Assetz is sent to customers only yesterday and today this exercise.Still lot of water has to flow under the bridge.
I dont know why some people are exploding this forum when they can negotiate with the builder on the concerns they see. Assetz as a Cat-A builder will surely be able to accomodate even if this increases their cost….there is no point thinking sick as this is the case with most of the builders.
Raman is right I think he had sensed this in March when the Actual apartment is being built. I am sure he might have sold out his apartment having this information. If you see an actual apartment it is pathetic. Even if you want resale, it would be trouble seeing this type of third grade apartment. People who were arguing against RAMAN should understand that he assumption is right and now we dont have any choice but to either sell or remain depressed after seeing this pathetic quality.
Hi, Assetz is a transparent brand, it has already shared the detailed specification with brands & as per me they are best as per the marked standards.
That is a LIE , just putting a brand name against an article does not mean that specifications have been provided there are different grades of products within a brand. Specifications should uniquely identify an article not an ambigous description which one can back track from when time comes. If you want to see how specifications are provided to go Sobha or even Prestige website and you will understand what specifications mean.
hey sanket have you personally faced any issue with the specification? Can you be more clear please. I checked out their project and faced no such problems.
I think it is advisable to contact the CRM team for such problems.
Hi…I went to this see this project last weekend, and inquired about a 3bhk unit availability. Few units are available with inside facing view, and the builder quoated around 1.15 Cr for a unit on 8th floor. After all the negotiation he cam down to 1.10 Cr because couple of my friends were there with me and we said that we will book 3 flats. I think I can negotiate further and can bring him to 1.0 Cr including everything except for the registration. If I get couple of more buyers with me, this will become easy….Let me know if anyone is interested….Pls trust me that I have been to all the projects in that area and this is the best price for such project….Please do your homework before you thrash/ raise suspicion, or want to join
Can you please send me your contact details (email/phone number) to . i am also interested in this project.
Good luck mate if you want to pay upwards of 1CR for 2 pegionhole sized bedrooms. 2 out of 3 bedrooms are 12×10 !
interested. let me know the same. id is
Ping me at . Interested of price is around the 1cr mark..
Even I would be interested, do reach with your contact details, we can discuss.
I am interested in Asset east point. Please contact me on my email id.
thanks
Prashant
Pls contact me at
I am interested.
I am interested in Asset east point. Please contact me on my email id or @9986506478
Regards,
Rajeev
Guys, all the above replies are from the sales people to create some artificial demand. Be aware. Thanks.
i am sure you are a broker. there is no real deamand for 1 cr budget from any sections of the people.
builder can keep it and keep dreaming of it.
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
Award of ” Six Star” Rating by ICRA for Assetz East Point and Lumos Projects
http://www.icra.in/Files/Reports/Rationale/Assetz%20Property_r_30042014.pdf
According to the report, It says ~ 83% of the units are sold. around 350/425 are sold…!!
So it’s selling great, than some people were commenting negative about bangalore real estate, and this project..Should have invested long back 🙁
Do they reveal how many have been sold ? It is their word that’s all.The figures are not real.
Please refer :- http://www.icra.in/Files/Reports/Rationale/Assetz%20Property_r_30042014.pdf for details
Now sales and marketing teams have started posting on forums! Which is good and a compliment to this site. However guys at least identify yourself as builder reps and answer buyer queries – instead of just posting on line advertorials.
When will be the third installment..Any idea?
Guys,
is there a group in facebook or yahoo for assetz eastpoint owners & prospective buyers?
-jack
Reiterating one of my previous comment.
Do you guys think , it’s logical to invest in a property for which the ratio of carpet area to super built-up area is around 65%? I have seen even tier 1 builders in bangalore providing ~70%. Am i wrong here?
If 70% is considered as a defacto standard (just for comparison sake), we are loosing out 5% which will roughly translate to 86sft for a 1730sqft flat & that will be 5-6L as per the current rate. Any comments ?
-Jack
@Jack : If you are considering it for your own stay then its a different story as people have very specific reasons ( close to kids school/own office/spouse’s office etc etc). But since you are considering it for investment, I would say a very BIG No. Define your investment objective first – what is the amount you are investing, what is the time frame, what is the return you expect, how much risk/variance in return are you able to withstand. Quantify everything and then do a time value of money calculation. In present day scenario, any property (especially apt as you dont even get substantial share of land) that touching 1.2 CR ( plus some debt) wont give you any “real” return ! so AVOID.
Sachin,
Thanks for the reply. You got me wrong on the investment part. My idea of buying the property is not for investment but for my family to stay.
Most of the other factors including proximity to schools and offices seems to suite me. However, reduced carpet area (65% of super buildup area) is what I am more concerned about.
-Jack.
Carpet area is 69% of SBA. Go to the Prestige, Salarpuria, Vaswani who have project nearby and talk to them on why they think their projects are better than East Point … you will get your answers..
“Carpet area is 69% of SBA.” :: Did you verify this with the dimensions shown in the floor plan?
Can anyone please tell me what is the current rate?
This should be a personal decision because going by the comments might confuse one…i have heard investment ways it is good because it gives you good appreciation value.
Hi Everyone,
I have been reading about the dilemma of many investors on whether “to” or “not to” invest in this project. Even I did a long thorough research of my own before I booked my apartment with this project. So with all my experience I would say this is certainly a project worth putting money in and the top 5 reasons to support my claim are:
1.) The builder is reputed in corporate spaces and has executed good projects.
2.) The parties involved in this projects are also the best in their business. Eg: The architects RSP are of the top most architects in Asia. The construction partner L&W are very reputed and have executed international projects with top class finishes.
3.) The location is great as it is little away from the noise of outer ring road and yet at a reachable distance. The construction activity around the area supports the fact that it will develop into a good neighborhood in future.
4.) A lot rests on the success of this project for the builder because it has 3 big luxury projects coming up in the near future. And the prospective customers will look forward to this project as reference point.
5.) East Point project has attracted venture fund money which strengthens the fact that other than the buyers even the venture funds have confidence on the builder and the project.
And yes off-course every project comes with few drawbacks which would differ builder to builder.
Overall, it is a good project, however I invested a year back so not sure how much appreciation can be achieved for the buyers at the current rate.
I wish everyone the very best for their dream house search.
Cheers
I agree with you, I invested in this builder for the very same reason.
Hi Jack,
I would say east point is a wise choice. not only the developers are good. they have got L&W as contractor. you can see about contractor in today’s time of India.
as far as ratio goes it varies and everyone is offering same in tier 1, since you get more open area & more amenities the ratio will be like this. if you see any small development it will be high.
you should look at the room sizes and ventilation of the unit.
Even in terms of investment this are will touch 10K/sft in 3-4 years. already developers are offering rate of 8K at agara.
Cheers!!
Hi Vijay,
I have compared other projects as well (tier 1 builders) and almost all of them are offering carpet area in the range of 70 – 75% of super built-up area. As I mentioned earlier, assetz east point is providing only 65% of built-up which is considerably low according to me.
I agree with you that the ratio will be higher in the case of small developments. All projects that i visited were from reputed builders with amble amenities & open space..
-Jack
Guys, any update on the price. Just wondering if the recession has brought the prices lower. Thanks.
They wont quote the lower price but they will negotiate. I keep getting calls from their sales rep who is in touch. already he has lowered the price by around 4-5% of the quoted price. my feeling is you can negotiate anywhere between 5-10%. I have a feeling that it could still be higher. I will say wait for some more time, when the construction happens and number of units are still unsold then the builder feels pressure and you can get better discounts. I have kind of ruled out this project, but if they come to the price at which i want them to then i can consider :). Btw, are you considering 3BHK. Did you check the floor plan, 2 (out of 3 bedrooms) are 12×10. Thats a pegionhole sized room, rather 2 pegionholes !
Just wanted to check if anyone from this forum bought an apartment in assetz east home. A few clarifications to those who already did some ground work on this project:
1. How is the builder response to customer queries?
2. What is the final price negotiated ?
3. Do you know about any other project from assetz other than the project in HSR which is completed
4. What is the ratio of carpet area to super built-up area as offered by the builder?
5. Anyone got the legal documents verified by a lawyer?
6. Any other general feedback about the builder or about this specific project.
It would be of great help if you could either post the details here or drop me a mail to so that I can get back to you.
Thanks..
-Jack
I have got a response from foamy and thought of posting it here for the benefit of others. Though his answers seem to be very favourable to the builder, appreciate his fast response
1. How is the builder response to customer queries?
Customer queries are answered in prompt in my case. It may depend on person to person on what kind of request you are making
2. What is the final price negotiated ?
Probably a 100-150 rupees from the current price, but I am not sure on this. We all purchased long back when it was on pre-launch
3. Do you know about any other project from assetz other than the project in HSR which is completed
i am aware of commercial projects
http://www.assetzproperty.com/commercialandmix.html
http://www.assetzhomes.com/heritage.html
4. What is the ratio of carpet area to super built-up area as offered by the builder?
~69%
5. Anyone got the legal documents verified by a lawyer?
Its been verified by owners group, and it seems fine, also this project has been approved by SBI
SBI Approval Code Ban2413716
https://www.sbi.co.in/user.htm?action=sbihomeloanprojects
6. Any other general feedback about the builder or about this specific project.
I generally feel, its being constructed at a good phase, and hoping to be a good one as its close to outer ring road, and hoping to be living in a good community with adarsh palm retreat, prestige jade pavilion, prestige summerfield, sunnyside, ivy terraces, and all companies near by…
yes this project is approved by SBI…..the project is going at a fine pace, go and see the site location if u want to assure it yourself, we hv been dispatching payment every two months per every two floor…they are strict on payment schedule, any late payment result in 18% of interest??the passages dimensions to the master bed room kids room are all not mentioned in plan and if added you get roughly ~69%..agreement is builder favoured, but in hear that’s the case with almost all builders, and they are not ready to listen to your requests which is out of scope of agreement or specifications already provided in the brochure.
Hey Jonson,
When you say that “they are not ready to listen to your requests which that are out of scope of agreement or specifications already provided in the brochure” do you mean they do not accommodate any changes to the construction?
Thanks,
Sapna.
Sapna,
.
Mosquito mesh is not provided by builders by default, but is additionally chargeable.
sink/granite in utility is not provide by builders by default, but is additionally chargeable.
A/C wiring is provided by default in master/living, and dummy socket in other rooms by default
granite counter top is provided for wash basin only in master room toilet, but is additionally chargeable if you need in other toilets.
TV Point is provided only in master / living, if you need in other rooms then additionally chargeable
Dishwasher provision is not there by default, additionally chargeable..
A few other clarifications based on famy’s feed back:
Which is the common forum that is being referred in his response ? Is there a way prospective buyers can join this forum? Facebook or yahoo group?
How is the carpet area to super buildup area ratio calculated? I could not arrive at the 69 percent figure which famy mentioned. As far I could calculate based on the floor plan, the ratio is coming to only 65 percent for a 1730sft 3bhk apt. Any one else in this group have a difference in opinion?
How do we get th sbi approval number which famy mentioned? Is builder providing it on case by case basis?
If one of you could share your personal contact details to , I can give you a ring and discuss more.
Thanks..
Jack
Hey All,
I am interested in booking a 3BHK in Assetz, however I would like to get some feedback from people who have already booked apartments there. Have they done any calculations on the super built up area? How is the customer service? Are there any details I need to look at when paying the booking amount? If you could share your email ID or phone details at I can get back to you.
@Jack- Did you received more emails on the query posted on by you on March 15? If yes, could you please forward them to me to the above mentioned email ID?
Thanks much,
Sapna.
@Sapna : so you want to pay 1.2-1.3 CR and stay in 12×10 bedrooms “and” get an apt which has 65% carpet area “and” stay in a location where the ground water as well as Cauvery water doesnt exist. Good luck !
You need to understand the facts !
where in Bangalore you get underground water ? and even if you get it somewhere, how much money you need to shell out for such an apartment which has all facilities ?
In mumbai, u need to pay crores for even 500sqft..
and to everyone who is opposing, did you find any apartment where you get underground water, and for budget less than 1CR, and having all amenities, and you have 70-80% of Carpet area ?
I advice you to recommend customers to such projects if any, and opposing everything, and just saying negative, and without giving options to buy anything ?
the apartment costs are going high day by day
dear john,
facts for you are
1)this property is in bangalore and not in mumbai. so no point comparing apples to oranges
2)having relatively bad ground water level is different from having no ground water at all. this area doesnt have
3)plus this area doesnt even have cauvery water. so you are buying an apt knowing fully well that you will depend on tankers
4)tankers have various negatives – high costs, unreliable services, pathetic water (your waching machines etc will be ruined)
5)3 BR plan is bad – out of 3, 2 bedrooms are extremely small.
at the end of the day its personal choice. there are people who dont want to compromise on so many things after spending 1.3 CR (in total) and there are some who can ignore these facts. depends on which side are you. but no need to get emotional.
I remember nandan/narayanmurthy saying about india -” in india, government doesnt take any proactive step and takes action only after the problem becomes very severe”. This true for real estate industry too, builders build the apartments in outskirts, then retail outlets are set up, then govt lays the roads and then installs signals, then digs the laid roads for drainage and then digs the road for underground power lines and then lays the road again and then gives water connection.
Only area in bangalore, where water supply is better is south west bangalore and unfortunately the connectivity from this area to the IT corridor is pretty bad and will not solve till metro phase 2 is completed which is at least 6-7 years away. So we need to choose between worst, very bad and bad options now. Let us all vote for change and bring a change in the governance.
Having said that, I agree that I dropped this project because I found the 2 bedrooms to be small. Otherwise this project is appealing in terms of th e amenities and lack of any high rise on all the sides. But as you said its individual’s choice.
Hi I feel Assetz East point is preferably close to some of the IT places in and around.
All,
There are so many things we can write about this project. I have seen good in everythings they have dne so far. We might see 2.5bhk small…. but this is same when compared to other builders like Sobha – typical room size for a 1300-1400+ room sizes. We loved the 2.5 BHK compared to the 3BHK. The only difference I found was an extra balcony and wall to the .5 BKH (open room). Otherwise 2.5 BHK made lot of economical sense.
Even design -wise, 2.5 BHK is better than 3BHK.
Locaton-wise, I liked this project, as this is band next to Adarsh Palm Meadows apts/villas. And look at the front elevation – huge on the road, rather than a rectangular type of apartmens we see mostly – which are shorter on main road and deep inside length-wise. This one is extensively on the road. So good when you stand outside to enjoy the view the complex throws at outsiders.
Next, look at 24th park Avenue in HSR layout. The finishing, balcony etc are expected to be same for East Point as well. So the quality is expected to be notch higher than smaller builders cropping up near to the project location.
Now the number of apartments is apt… round 400+ or so, rather than 100s or 1000s (which will be too less or too much, as a community).
So, guys… my suggestion is go for it.
We want to find fault…. there are zillions of fault to be found for anything we do or see.
My 2 cents.
– Sansha
Sapna,
I was out-of-station & hence the delay in response.. I got response for my 1st query posted on March 15 & i have posted it in this forum. Yet to get any response for the 2nd query posted on the same day.
Did you decide to go ahead with this project?
-Jack
I have a feeling that Real Estate is on an spiral without a spine. I have been seeing these advertisements from past 5-7 years and seeing these places when I drive around the city and I am quite shocked at the value these builders are demanding for these flats. If we go by the basic requirements to make a living sane and healthy those are the very things absent in each and every project except a rare few. The Roads are totally non-existent or bad, no water, no good medical facilities, no good commercial shopping centers, no good affordable schools and finally there is mismanagement on a grand scale giving headaches for years to come. Every builder seems to be directing their prospective customers an international school some 10km away, Shopping at MG road/Mall some 15kms away, some reputed Hospital some 10kms away and finally a swimming pool with emerald blue water at least in the brochure when there is no drinking water. Now tell me if every 100 builder is promising the same above what are you actually getting for your 75L-1Cr, 2Cr money- a concrete dwelling which is ok but nothing else which really matters for living.
People are blindly believing these brochures and getting into a mess. I don’t know where this logic of die in your own home at whatever cost became a faith in our people. If you can live comfortably in a well developed residential locality with parks, roads, schools and medical and educational facilities then why bother for an illusory apartment where you only feel good when you stay indoors. Wake up people, this country is vast and there wont be any shortage of housing for its people, there will always be land available and cities keep growing so don’t get pigeon holed into a place which costs you your life’s worth of saving. Remember if you buy a home to live rest of your life it requires much more than a great swimming pool and modular kitchen and clubhouse.
Whenever i get this Gyan i ask simple question, Guruji can you please name some project which is close to park, mall, hospital, school.. should be a decent apartment/house with proper planning and no deviation. I am sure guruji will not write back here.
@Manoj : sensible post but i am sure there will be few people who will be ready to pounce on you saying prices always rise or can you tell them where to find a good deal.
I am considering a 2.5 BHK in assetz east point or mantri premeo. Any opinion on which one is better? My budget is around 70-80 lacs
Shweta, I would say it is difficult to compare. New builder vs. old builder, location factor etc makes them difficult to compare. Having said that layout and amenities are better in East Point but these guys are not the best in dealing with customers. This is my 1st home so have no great experience in dealing with other builders. Have you contacted them and what’s the base price being offered?
Well couple of things to point out, premero is from sunil mantri group(not mantri) and its nearly their first project in bangalore. So from a perspective they are also a new builder. I personally didn’t have a good response from them 2.5 years ago. I went to their site office twice both times I wrote down my name asking for a callback and no one called back. Things may have improved now that construction is underway. The reason I chose assetz over mantri was the society layout. I don’t like the long line of apartments and the poor sales from mantri at that time.
Hi Soma,
I am quite keen towards booking an apartment in East Point. If you dont mind you provide me your reference so that I can discuss with you. My email if is .
Appreciate your help.
-Neha
Hi Soma/Neha,
I am planning to buy an apartment in EastPoint.
Can any one of you tell me if this is a wise decision. Currently they are charging around 1.3 cr for 3 BHK(which I think is a bit pricey).
Also if you can share your email id, it will be very helpful for me. I can then discuss with you guys.
Regards,
Tanuja
HI Tanu,
90% borewells dried up long time back. Please note, yearly rains will take ~8-10 years to get water levels up. New borewells might work maximum of 4-6 months.
And water mafia in outer ring road will not allow cauvery project to happen.
I heard carpet is too little, as structure is already in shape, i would suggest you to measure with tape before taking any decision. If builder doesnt allow that because of “safety reasons”, then something fishy is happening, you better keep yourself to be in safezone and stay away for this project.
About price, if you could get this for 1.1Cr, that would be a good deal. May be in couple of years price may go to 1.3-1.4. You donot see much of appreciation for assetz properties, as we see for prestige or shobha.
one of my close friends booked in Assetz, he isn’t happy with only two things, 1) internal specifications. 2) No one in assetz cares to reply you after you book the flat.
Good luck.
Hi Rajesh,
Thanks for your reply. This water problem which is a major point of discussion in this forum, will be same even if we plan to buy any other property in the same belt. So it it not Assetz specific I believe.
How is Prestige Jade/Sunnyside project in comparison with Assetz. Any idea?
Also if you know any other good project in this same range/location and from any good builder, kindly let me know.
Thanks for your cooperation.
Regards,
Tanu
Hi Tanu,
This depends on what you are looking for. If you are looking for a home for a family, then East Point is good as it loacted in good neighborhood with schools nearby. It is project with 80% open area and sorrounded by villa properties. This brand is relatively new, promising and very popular in the market because of the execelent baground in commercial area. .
For investment purpose the price is exorbitant and the returns are unlikely to be good for some time to come.
For end-use, everything depends on the depth of your pocket.
Different people visit such forums to find out why people buy at this rate.Also, they are searching for some good buy for own use.
If everyone buys at exorbitant prices [100% profit for builders ] what will happen later ?
Every two-penny builder will quote high prices and destroy economy.
If people exercise some caution and restraint every one will gain , you would not have ended up paying such high prices.You would have got the same flat for 80 lakhs.
You pay usurous rates and justify it gloatingly.Don’t throw away money so recklessly , I for myself won’t do though I can afford it.
This forum is becoming interesting and I enjoy it [ I read all forums out of curiosity and for value ].
If you have different ideas why you should spend so much please write them and I will change my opinion henceforth.
@xyz, You are absolutely right when you say this is all inflated but this can only be confirmed in hindsight till then assume that Mr. Market is correct. Distortions do happen but it is the market which would correct it eventually. Did you forecast market to go up so much 5 yrs back ? one has no right to claim that we are doomed if you did not predict so.
Having said that, those who are planning to retire early should have one home in their name. This gives you certainty in your biggest expense in a city like Bangalore i.e. rent. Everything else is “MAYA” 🙂
@Soma: fair markets correct themselves not the ones that are manipulated. Real Estate market in India is grossly manipulated – black money, hawala money, shady deal, politics-builder-babu nexus and lack of information and regulation. did you ask yourself, if the real estate market is indeed doing so well why are these performances not reflected in the stock prices of the listed real estate companies? If the real estate industry has indeed grown in last 5 years then why have the listed players in this industry have not given super duper returns to the investors? Also, dont you think its surprising when every other industry has been struggling since Lehman crash (auto, manufacturing, finance, IT to name a few) why has real estate industry been immune to slowdown. Last 5 years have seen lot of job cuts, salary cuts across industries, but real estate seems to be immune. It is because the industry is manipulated by people who have vested interests. so the assumption that the market will correct when it becomes overheated is not true because its not a fair market.
@xyz : i second your approach buddy. I am an interested buyer but i wont recklessly throw away my hard earned money. The lack of regulation in this industry doesn’t give me any power when builder delays the project or changes the plan midway. And as i have mentioned couple of times, market is overheated and demand is artificial. The major employer of Bangalore (IT Industry) has not doubled the salaries of employees over 4-5 years, especially in the middle/senior positions. whereas the prices of properties have doubled (at least the quoted prices). In the various companies that i have worked for i can easily count the number of people who can “afford” a 1.2 Cr+ apartment. So, when I see market getting flooded with 1 Cr+ apartments i see massive oversupply. And basic economics tells me price is a function of demand and supply. An example of oversupply, say I want a luxurious 3 BHK in and around whitefield-orr-marthahalli-sarjapur belt and the options that i have include multiple projects from – prestige, brigade, adarsh, vaswani, shobha, artha, Skylark, Spectra, DSR, DNR, Saket, SJR Primecorp, Bren, Salarpuria, Mantri, Mahaveer and many many more. And unsurprisingly everything is available. So where is the demand guys? if demand were there, should all these be available? So comes the next question, if the supply far outweighs the demand, why the price is so high?
Mr Federer is every where – why ?????
sachin_federer says:
December 20, 2013 at 12:20 pm
My 2 cents – please avoid Purva. They have not delivered a single project of note in last 3-4 years. They will take money in the name of one pre-launch, go and buy land somewhere else and then collect money there too. In fact a number of their properties seem to have major legal issues. Heard of a project called – Purva Seasons. Was launched almost 3 years back or so. Ran into major legal issues with DRDO/Central Govt. Avoid Purva !
Sachin seems to be trying hard to own a flat of tier 1/tier 2 builder at 80 lacs max, and it should have all amenities, Cauvery water and close to bus stop..He cannot find any, and he is making sure, others also don’t buy these apartments reading his negative comments, and probably thinks he can negotiate hard with the builders so that they bring down the rates as they will be forced to reduce the price when their apts are left unsold….
@Abc : whats wrong in expecting basic amenities (drinking water for example) when i am asked to pay over the top? I am not a armchair analyst. I have done my fair share of groundwork and i am more than convinced that their is hardly any demand and huge oversupply. so whether you guys like it or not, prices are coming down. just depends on how hard you negotiate and what you bring to the negotiating table. i have nothing to lose so i am on strong footing while negotiating. Given the recent track record of the builders in delays/deviations etc, i would rather wait for some good projects to be completed (and look at least closer to the brochure). A ready to move in project cuts down my risks by some %. I am sure the way market is shaping up, most of these projects arent going to get completed as per the promise made by builder(s) – both in terms of specificaitons/amenities and timelines ! I am here for long haul, so will wait from you east point owners to hear when you get your possessions on time (with all the rest of the promises fulfilled) 🙂
well written sachin federer, you hit the nail in the coffin.
That property will be worth hundred crore in the next thousand years.
Good article to read for everyone fighting out here
http://www.nytimes.com/interactive/business/buy-rent-calculator.html?ref=economy&_r=1&
@varun: Thanks. So as you can see, most of the parameters in the model put forth by NYT are specific to US. So once you go into settings and change the parameters to align them to India – such as mortgage rate of 12% (or more), inflation around 10% etc. The model clearly shows that you are better off not purchasing a property for about 30 years. Substantiates the argument some of the sane voices are having here. btw, for your information, I have taken the cost of the apt as 1 Cr and rent as 35K ! if you reduce rent further (and increase apt cost) the case for not purchasing becomes stronger ! tells you how heated the indian property market is.
Sachin, I have used inflation of 7% for both rent and price inflation which is long term reality. Interest rate of 11.5% and property tax of 1% which is on higher side. The output says buying better in 8th year. Something is wrong at your end or may be biased somewhat 🙂
@soma : exactly what happened in US, we seem to be repeating the same thing. just put the rate of increase of home prices to 0 (not even negative) and you can see it doesnt ever make sense to buy house at these inflated prices. Everyone in US assumed the same thing, house prices will always increase which did not happen.
@Sachin, you can assume it to be true in US but not in India for the next 15 yrs. Mortgage to GDP ratio is only 10% in India while in US it is 90%+ and that’s why US prices won’t rise much. House prices depend on general population’s ability to take more leverage. The leverage is essential since it is long term assets so long term liability is fine. Except occasional pullback real estate prices are on an uptrend in India and most of the EMs. The bubble you are talking about will happen but not now. What if prices don’t fall for 2-3 yrs and start rising once again after being stable.
Mr Federer everywhere ??? why Purva , DNS , Assetz ??
sachin_federer says:
December 20, 2013 at 12:16 pm
Hi All,
Did not get a response so far to my query. Looks like this discussion forum (for DNR Atmo) is dead. Are people no longer interested in this project?
Thanks.
Reply
sachin_federer says:
December 16, 2013 at 12:03 pm
All,
Is there water problem in that area? Do you get good ground water or you need to rely on tankers. I know cauvery water it not available at present in that area and it could be good 5-10 years before one can expect Cauvery water.
Cheers !
@xyz : Spot on buddy 🙂
@Sachin, I am tracking your post from couple of days. I am one of the buyer in the east point project. You said about the Water which is an issue in this area. Being in India Petrol, time are also the major concern. Staying in far away place, spending everyday 2 hrs. in traffic and burning 1000 rupees in petrol is also not a good option for me. The best thing about East point or this area is that it’s near to so many IT companies. Even if we pay some extra on maintenance is also not that bad. We are getting far more benefit out of that. Boss, such pane keliye such khona pasta hai. I don’t mind 2 to 5k extra on maintenance. Atleast I save lot of time in commuting. Don’t worry about this road, it will definitely come up. Atleast I feel this area far better then Sarjapur or even Hebbal or Whitefield.
@Santhosh : yes you have a valid point. i dont disagree. my whole point is “value for money”. East Point as a project has certain pros and certain cons. Not all pros and cons are universal either. Neither their importance. As one can imagine, they vary for every individual. Some things at east point suit me, some dont. And thats where the concept of “value for money” comes for me. If i am paying upwards of 1-1.2 CR (for a 3 bhk) and then paying EMIs my overall cost goes way up. Is the project really worth that much? when i rationally evaluate, the answer i get for myself is a “no”. Like I said, its not universal. To each his own.
Sachin, could you specify issues regarding EastPoint which tripped your “value for money” calc?
I must disclose that I am one of those early buyers in East Point.
Although I have mentioned these points in various posts, let me try and summarize. I was looking for a spacious 3BHK and it was costing me upwards of 1.3 CR including everything. That means an EMI of more than 1 lac per month for next 15+ years. So good amount of compromise on my own lifestyle. Now what I am getting when I pay 1.3 Cr+, basically the cons
1. no ground water and no cauvery water – biggest issue. so you are dependent on tankers. Already the tanker guys charge exorbitant amount and the price of a tanker is going to go up with all other projects in the vicinity coming up. Leads to very high maintenance. All the greenery/waterbodies that looks rosy in the brochure, how will you be able to maintain them. how will you maintain the swimming pool and other common amenities without water? Also the water from tankers is filthy – spoils washing machines/dishwashers. Supply of tankers becomes irregular especially in summer. In a nutshell – you spend 1.3 Cr+ and still dont have piece of mind. Again for drinking water, you are dependent on water suppliers. Worst part, the situation is going to become worse with all the high rises coming up.
2. The narrow road leading to the project – already bad approach road. when all the high rises come (total number of units may be between 5k-10K) you will have that many more cars on that road. In that case, it will take you good amount of time to reach ORR from the project.
3. No easy access to public transport. You will have to walk about 1.5-2 KMs to reach ORR to take a Volvo. Or haggle with auto guys everyday. Or buy two cars – one for yourself and one for your spouse. Then buy 2 car parkings. Nowdays, cost of a car parking is almost the same as that of a small car !
4. My office (and my wife’s office) is not on ORR. So both of us anyways have to travel. Anyways, even if it were on ORR there is no guarantee that i will forever be working on ORR. Today you could be, tomorrow you could be in Manyata, E-city, Bannerghatta Road etc. So will surely prefer a place where i can get easy access to Public transport – specifically a Volvo or Metro (in future).
5. of course, price is way too high anyways.
So all these factors lead to drop this. As i said, these are my own reasons.
All,
I have been a regular readers of these forums for some time. I have also been regularly visiting various projects. Let me add my two cents on Bangalore Property market in general and East Point in particular.
That particular area is not worth the rate east point and their ilk is asking. Reasons – no water supply in that area (borewells are running dry – ask adarsh palm retreat, they rely on tankers). no cauvery water either. Imagine if you are dependent on tankers for infinity/swimming pools? and imagine the imapact it will have on your maintenance. Not to forget, the water from tankers is terrible, it will spoil your watching machines/dishwashers, plus your skin/hair etc. Approach road is bad – you are easily 1.5 KM away from ORR. So totally dependent on your car. Also, the area has got terrible oversupply – vaswani, east point, number of prestige projects, adarsh palm retreat. when these are occupied, you can potentially have 5k-10K cars on that tiny road !
My suggestion – be rational. Dont become emotional fools while putting your hard earned money in property. There is no way an apt at east point is going to cost 1 cr and above. my advice is avoid east point (and the surrounding area). Worst case, negotiate hard. all these builders are having tough time selling houses. negotiate very hard. cheers !
I think otherwise,
– Very close to outer ring road , good connectivity to most of the places
– Very close to IT Companies (INTEL, ECO SPACE, GLOBAL TECH PARK, PRESTIGE TECH PARK, PRESTIGE CESSNA PARK, VRINDAVAN TECH VILLAGE, SALARPURIA SOFT ZONE, ETC ETC ETC )
-Over the period of 3 years, this area would be looking much better with great projects Adarsh Palm Villas/Apts, Prestige Jade Pavilion, Prestige Ivy terraces, Prestige Sunnyside, Prestige Trinity Center, Prestige Silver Sun & Summerfields, Nitesh Pal Alto
– There is approved CDP roads coming across boganahalli which joins the varthur road. Adarsh road also should go public as per govt rules, and is much wider
– Rental income should be on higher side over this area as it is surrounded by IT Companies
– Water is definitely a problem, not only over this area, but most of the places in bangalore
Adarsh Palm Retreat is completely sold out and is available only on resale.
Prestige sunnyside is sold out
Prestige summerfield / silvery is sold out
Vaswani Reserve is 90% sold out
Prestige Ivy terraces / Jade pavilion / East Point are all selling at a good rate
And hence demand is high, and so price is also high !!!
That doesnt mean this place is not good 😀
Luiz, even I feel the same. Its a good place for everyone, who can afford to invest.
@sachin_federer – which project, location ? do you suggest ?
@murali : I am sorry buddy, I am not a broker/agent and i cant suggest any place for you. You need to define your own objective/requirement and budget and see what fits in.
Luiz – do you work for East point or are you one of the real estate brokers. You seem extremely exuberant about the prospects. 🙂
All these projects coming in and around East Point means no more ground water ever. Already the area doesnt get ground water. Once all these units (estimates to be around 10k) are built forget about borewells (builders can scream rainwater harvesting as much as they want). So you pay 1 Cr+ and then get filthy water at over the top prices and in worst case even that gets rationed. It has been happening in a number of such apartment complexes (heard of Sun City?). If i am paying 1 Cr i want to live a comfortable life, not one where you have to struggle for a basic necessity like water.
Regarding rental income – do a simple math, if you have 1 CR, put it into a FD and you get assured returns which are way higher than the rental income. And if you are taking loan to purchase an apt, already your cost is going up. Rental income will be way less than the interest you will pay.
About projects in the vicinity
Adarsh Palm Retreat – they have launched one more phase, 500+ units. almost everything is available (and you are talking Adarsh here)
Vaswani – who says 90% sold out, they have a huge inventory – i visited them, whatever flat in whatever tower i was asking was available !
Demand is artificial.
Use your brain guys – if demand were really high, why do you see full page ads in ToI everyday from real estate industry? if demand were really high, why do these guys keep advertising on FM Radio channels?
Bangalore reality is showing signs of fatigue after mad rush it had and crazy pre-launches it had at insane prices. The main indicator what I to say this is number of adds everywhere foe ready to move in apartments, serious reduction in pre-launches, lots of property fairs to push sales etc
Its clearly buyers market.. Sadly there are not enough buyers at this price..! 🙁 I think I can confidently say most of NRI are also shying away from real estate as many have invested most of savings in earlier this year. So any genuine buyers want buy; just go out there bargain hard, infact even harder, rememmember, cash-is-king when you want do good bargain.
I would not be surprised if I see decent discounts/ increase in promitional activity by tier I/II builders in 2014. Tier III Builder are anyways have started bleeding. To demonstrate this, go to any tier III Builder this weekend and have a discussion regarding flats you may be.interested. comeback home and sit quietly. I bet if builder’s marketing team does not call you politely every 3 days they send you ‘best quote’ only for you.. 🙂 Although I don’t enjoy doing this; but every one should understand that business is cyclical 🙂
@Manjunatha Kini : yes. You can see a good number of tier III (in fact Tier II also in some cases) builders have the project almost ready to move in and still have inventory of about 40-50%. As you have mentioned, happens with me everyday, i go and see a property on the weekend and the next week sales guys reduce the price by more than 10% and ask me to visit again, saying they will make good offer especially for me !
@sachin – Please go through http://www.indianexpress.com/news/bangalore-realty-on-expansion-mode/1190104/0
@Luiz – so is that your source of optimism Mr Luiz? A paid for (most likely) article written by one of the sophisticated real estate brokers? Ask yourself – how does JLL (Jones Lang LaSalle) make money? In which scenario JLL and their ilk are expected to make more money – when market is booming or when marking is going bust? So what is the picture they are suppose to project ? of course that the market is booming.
Worst case – take JLL’s data that there are 10,000 HNIs in Bangalore. Even if you assume that not even a single HNI has yet bought a single property in Bangalore, 10,000 luxury units mean 2-3 projects from Prestige, Brigade, Adarsh, Nitesh, Shobha. Thats it. Remove my assumption and you get a clear picture. So dont fool yourself (and others) by posting these paid for articles. Real Estate in Bangalore is in shambles !
Sachin,
You mentioned that you have a lot of issues about the area but Assetz in particular. All the points that you have raised apply to the whole area and are not limited to Assetz. In fact they are across the whole IT belt, suncity, sobha lake apartments,sarjapur road springfields, divyasree,salarpuria, prestige. There is hardly any apartment living IT engineer working in the ORR belt who drinks cauvery water.
These are essentially growing pains due to mismanaged city development. Weather this area will develop of another is a matter of forecasting and personal risk, and many people have risked their money on this area. Best of luck in your negotiations and hope you get a flat pretty soon.
And yes getting returns in FD is a good idea and in many cases it will give you better return than property but most married folks buy property because they want the feeling of security and stability that living in a self owned flat provides. I remember once I was asked by a friend whats the use of money if you are not even living in your house.
The biggest reason i see to buy a ready house/apartment is protection against hyperinflation which is still a rink in a country like India and that’s when I changed from my mentality of FDs to buying property.
cheers
Amit
Disclaimer: I am an early purchaser of Assetz and hence my biased.
@Amit M : I understand where you are coming from. purchasing a property for your own stay has a different equation and different considerations vis-a-vis purchasing property for investment. Some of my arguments (in fact most) were against considering these hyped-up 1.2 CR+ 3BHK apartments as investments. And hence the reference to FDs. I am an interested buyer for my own use (not a speculator, not a broker, not an investor in property). So I want to get value for my hard earned money. 1.2 CR+ ( as i am looking for a 3 BHK) is still a lot of money for me (may be a good number of members on these forums consider 1.2 CR+ as peanuts, thats a separate story). So i dont want to compromise. That is my take. To each his/her own.
If u ppl thnk its not good time y u trying to convince others…just dont come to this site for next few year and stop visiting property..y sre u lecturing..and who thinks its good time keep buying…Iif some of u by convincing other u think u r doing social service..? We have better way…isnt it…this site is for ppl who hv booked here..or someone who is booking and want to ask something…all of u r wasting ur time….I m sure I will get lot of comment on y I m writing etc…coz I booked here..I subscribed here…do that I know abt my forum…god knows y all of u r aguing here…if some property sales person trying to say its good time he will…isnt it.? And he should thats his job..pls relax n have good holidays….dont reply to my post.
The assetz management seems to be quite arrogant and their CRM team is a bunch of jokers. They would keep on changing other charges and ask customer to pay for installments before the due date. If customer does not pay, they would threaten with imposing fines etc. I feel I made a mistake booking an apartment with assetz. All the best dealing with immature team of assetz.
You should be happy in one thing that they are making very good progress in construction 😀
Hi raj kumar,could you please share your number?
I was thinking of considering this project but – the road that leads to it is pathetic, not sure if the Adarsh side road will be made public either – also they claim they will get cauvery water, not sure of that either but they are charging for that too – also they are newly into residential projects, donno how the end product will be & also if they will complete on time
Please share your thoughts…
1, the road that leads to it is pathetic, not sure if the Adarsh side road will be made public either
All projects including prestige silver sun, summerfield , sunnyside, ivy terrace all are on the same road..Once the constructions of these projects get over, the roads will be much better in another 3 years down the line and also approved CDP roads are coming across boganahalli which joins the varthur road. Adarsh road also should go public as per govt rules
2. also they claim they will get cauvery water, not sure of that either but they are charging for that too
Cauvery pipe lines are put across by all of the builders, and it can be operational only if govt provides cauvery water to this area. And even if they provide, lines should be in place.
3. also they are newly into residential projects, donno how the end product will be & also if they will complete on time
Assetz projects are funded by avenue ventures, and I am sure that 60% of the project is already sold out, and the construction is going on full swing, so these are being built by L&W company who is also developing RMZ Eco World. If you look at the Assetz project (vrindavan tech village), it really has very good quality, also 27 park avenue also almost at the finishing stage.
So its definitely a good option !!
Famy, its very evident that ur part of Assetz marketing team…u seem to be giving only positive responses to everyone’s queries!!
I second you Buer. Famy seems to be part of assetz marketting team for sure.. 🙂
@Jack : yes in my opinion he is. if you read this thread, you will see i have had enough conversations with him where i felt as if he was just typing it out from their marketing brochure !
Can anybody let me know the latest pricing at the project? I am interested in 2.5 BHK or 3BHK. Thanks.
I think its 5590/-
It seems that they have raised prices to 6500 as per some websites which will be crazy if true!
This is not right. It is 5590 /- for 2.5 and 3 BHK, 5790 /- for Duplex
Current price is 6500 per sft…. as per few websites… .any idea if this is correct??
This is not right. It is 5590 /- for 2.5 and 3 BHK, 5790 /- for Duplex, as I was there on this Sunday at site office
Diwali Offer
https://drive.google.com/file/d/0B03KVMRJIDDoT0pvMF9XVUxhTmc/edit?usp=sharing
Can anybody tell me what is the current price ?
Assetz East Point Model Flat Pics
https://plus.google.com/photos/107681558649168298295/albums/5935324636728082049?banner=pwa
Can anybody tell me what is the current price of this project .
Currently they are quoting 5590 + floor rise
Assetz east Point marketing guys are real assholes.
I fell in trap of some marketing guy named “Sunil”. (he is assetz employee and not a broker.)
Like everyone I tried to negotiate a bit. Initially he showed resistance but later he agreed to the negotiation. I confirmed so many times the final pricing he decided. I live in hyderabad, but in future i am planning to move to bangalore so i went to bangalore just to book the flat.
Reaching there he increased the price by around 60k and was smiling like shameless creature and saying directors changed their mind.
I was soo pissed off that i can’t tell.
I went all the way to bangalore to book my first flat and he didn’t give me the price we decided on. I was there with my checkbook and returned without booking.
I agree 60k is nothing compared to 1Cr deal but still executives should have value for their words.
I strongly recommend ppl going for this project to ask for each and every pricing details on paper.
These ppl say something and on paper quote something.
Aditya, what base rate they were offering after negotiation?
they were offering me 5450 per sft on 10th floor in block A1
Can you please let me know if this is including PLC and floor rise or they are additional
5450 was including everything.
Hi All,
I am planning to book an apt here. But the approach road seems to be not that good from Horizon college (narrow and bad condition roads) and and also not that good from Panathur main road. Given it will take 2 yrs for the project to complete, I hope there will be some improvement in the near future. But I am not very sure about this since the government is not doing anything about roads throughout bangalore.
Any insights on this front?
Thanks.
We r planning to book 2.5bhk in east point. Our doubt is about the approach roads from outer ring road. There is one from horizon college and other from under the intel flyover, both of which seems not wide enough. My doubt is about the road which leads to Adarsh palm retreat and going on that straight road it connects to the road which connects to panathur road. Is this road public or Adarsh has private right over that road ?
Adarsh Road is a private road, so should be restricted to their community once the construction of palm retreat is over. The approach road from VTV will be better in future, There is going to be a 45 meter road, to be built by BBMP as a part of CDP 2015. I dont have hopes on narrow roads through a village beside intel.
And yes as per CDP the adarsh road to the north of assetz is supposed to be a public road.. As per the BDA gated communities are not legal and their roads have to be open to the public.. Its too early to get into this dispute now but I am sure we will work out a system in which assetz will get access to one of the two roads.
Till then the best access is through Panathur/Cisco
Hi Amit,
I am a prospective buyer. I visited the site and the sales person told me that the project is BDA approved. Is it true ?
Can you share me the details regarding this project approval.
Thanks,
Gopal
Based on the information we received and what is printed on the brochure, looks like the backup power rating for all apartments irrespective of the size (2.5 BHK, 3 BHK & 3BHK Penthouse) is 1 KVA. That seems allrite for a smaller apartment like a 2.5 BHK but makes absolutely no logic for the bigger ones, especially when people booking 3BHK duplex and penthouses are paying more on the BESCOM charges. You cannot even run a Microwave on 1KVA, let alone an AC!