Bhartiya City @ Thanisandra Road
Bhartiya City an integrated township spread across 125 acres has opened the booking for their residential apartments called NIKOO homes. The integrated township will host a high end hotel, hospital, school, entertainment & shopping facilities apart from offices.
Bhartiya City Options
- 1 BHK
- 2 BHK
- 3 BHK
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Bhartiya City Location
On Thanisandra Main Road, near Sobha City.
Key Distances
- MANYATA Tech park – 4 km
- Hebbal Fly Over – 8 km
- MG Road – 13.5 km
- City Railway station – 18 km
- International Airport – 23 km
Bhartiya City Price
- 1 BHK – 29 Lakh
- 2 BHK – 39 Lakh to 47 Lakh
- 3 BHK – 64 Lakh
Bhartiya City Investment Plus Points
- Thanisandra Road is fast developing with a large number of residential projects being launched in that area.
- Integrated townships are a good investment, the township will also host an SEZ offering about 3.7 million sft office space
- Basic Price looks good
Bhartiya City Concerns
- The project is in planning for about 2 years now
- Being a large project the project execution would be a challenge and one can expect delays in completion of the residential units
Check the issues with the bharatiya city raised by another buyer Of BC
https://docs.google.com/file/d/0B8G9V3YfXjACLW5sOGJlYUZ2ZUk/edit
BhartiyaCity_issues2.pdf
Hi ALL,
I am out of this forum since some time, but could take a quick look the BC agreement with the link given in the blog.
The doc tries to keep the whole premises in builders control which is unfair, and I see you all are trying to clear it. Further I did not see society formation clause. On the contrary I saw that the builder will appoint maintenance management services and seller has to bear the cost without questioning, this sounds strange, does this mean that the building will be always under their management and pay whatever maintenance charges they calim, check this closely.
Is the UDS issue is solved?
Let me tell you other side, BC is not unfair in all fronts. Their payment terms are one of the best. Though you pay 25% on agreement, most other charges such as BESCOM/Infra/Kitchen etc are payable only on possession, which is good. So please take a balanced look.
But you people are making good progress as a group and hence sure that you can resolve the strange clauses in the agreement.
Good luck
Mr. NKS,
The agrement is completley one sided, actually we are not sure what are we buying in BC.
Your are talking about theri payment mode !!
Are you clear, what are you paying far !!!!
Any one has understood, what is the carpet area, UDS, what are the charges ? – BC want charge for anything and everything. For example- take money from the buyer and make club house and you have pay monthly charges.
Scope of different charges ????
• Betterment Charges : Pg 9 Sec 6.2
• Subscription Charges : Pg 15 Sec 10.5b
• Admission fees : page 15 Section 10.5 a
• Common Maintenance charges : page 16 Section 11 -> is this listed in Page 31 section 32
• Sinking charges : page 16 Section 11
• Campus Maintenence Charges : page 16 Section 11.2
• Ad-hoc Maintenance Charges : Page 17 Section 11.2.1
• Admission fees : Page 25 Section E (3)
It is better to meet owners/ directors of BC. discuss and get clarity and make correction in the agreement. Other wise it will be an issue like long.Sales people do not no are has authority (as per agreement).
It is better, to understand and make payment or PPL will loose their hard earned money and get in to mental agnoy.
Now it is better to meet BC directors and check with them what actually they are for, Are they in Realestate buisness or some Rental buisness.
it is very Bad for BC being a reputed company in fashion industry etc, Now wants to shine in realestate Buisness in Bangalore with this type of attitude towards customers.
I think all should group together and take BC to court for such one sided agreeements, I think even if any body sign this agreements, it won’t stand valid in a court as it is against natural justice.
you can see the latest reply from bhartiya city
http://www.facebook.com/pages/Bhartiya-city/436896733048117
Dear TPV.
can you help us how to proceed now with BC, As some of the them has alrady paid 25% of the amount and they are yet to sign the agrement due to terms/conditions laid by BC.
can you guide us how to proceed now
If any one is considering booking apartment in bh city , check the
Construction Agreement.pdf & Agreement for Sale.pdf given by BC.
also Check the concerns raised by buyers of BC apartments
Issues_with_BH_agreement.pdf
in the below link
https://docs.google.com/folder/d/0B3mP6nUDOsbtYm5QWGQ3WnU5Y2M/edit
Some of the condtions you might not have heard before ,eg: monthly charges for club house , Apart from club house membership fee
After looking at this agreement; the concerns doc. which I was able to understand. I now don’t even feel like approaching them for their second phase.
what about those who have paid initial booking amout like 2.5L, 3L and 4L,
Did any of the buyers raise the concern on these issue and try to change the aggrement clausse, if so please share your thoughts
Ahemad,
you can join nikoo-homes@googlegroups.com. we all paid initial deposit and fighting for our right.
Lot of activity going in this group. It is the right place for all the buyer of Nikoo.
We are doing good progress as group/team.
We have ll the documents here.
Hi,
I have raised the request multiple times but not added yet.
Please do the needful at the earliest.
Thanks,
Vishal
Also check DLF_192010S.pdf , CCI documnet on DLF apartment ,
Bhartiya city flouted the same norms as DLF.
1) Page 2 -> Even if the buyers had paid full amount, the builder could create
mortgage on the property of the buyers for raising finance for its own purpose. DLF
Ltd. inserted such clauses which made exit next to impossible for buyers. In case of
delay by the builder, DLF Ltd. was to pay compensation of Rs. 5 per sq. feet per
month equivalent to about 1% per annum interest, while in case of delay in payment
by the buyer, the interest charged was 15% per annum for the first 90 days and 18%
thereafter. The Commission came to conclusion that the conduct of DLF Ltd. was
unfair in terms of section 4 and was being carried out by it because of its being a
dominant enterprise and amounted to abuse of dominance
2)Also check page 15 & 16 regarding common area & club house.
Hi Guys,
I got a copy of the agreement from BC. Regarding the resale of appt by owner/purchaser, the agreement states “during the 18 mons of the execution of this agreement or till the execution of the Sale Deed whichever is earlier, the Purchaser/s shall not have power or authority to transfer or assign his right under this agreement to anyone. After expiry of 18 months, the Sellers may at their discretion give consent for such assignment subject to what is stated herein. … the Purchaser/s cannot part with possession of the said Apartment or sell transfer assign his interest in the said Apartment without the prior written sanction and consent (to be granted at the option) of the Sellers and until the contract contemplated under this Agreement and all other writings executed along with this Agreement is duly and properly fulfilled. It is specifically understood that the Sellers shall at their option permit assignment on charging an assignment fee, of Rs.100/- per sft super built-up area of apartment and taxes.”
I am not really sure what it means. Does it mean that in any case we have to pay 100/sqft irrespective of when we sell or we have to pay this only if we sell within 18 months?
What do you guys think?
Thanks
Now to be on the safer side before signing the Aggrement, we should get the openion from some good lawyer and then we should get the confirmation from BC in writing from BC as well.
Regarding club house charger/and campus maintenance chargers it really surprise to me . waht BC is thinking as if though they are building a super luxuyr palace what other builders are giving only Poota cabins as appartment which world they are in
This clause means, you can NOT sell your apartment within 18 months from the date of agreement. You can sell only after 18 months. If sold BEFORE possession (and after 18 months), you will have to pay Rs 100/- to BC as transfer fee. If you sell AFTER possession you need not pay anything to BC.
Going through the Draft agreement looks like lots of hidden costs:
1. Campus Maintenance Charge, which no body mentioned till date; this is apart from the Maintenace charge mentioned in the cost sheet.
2. Monthly Club House subscription Charge, even though you are paying the one time membership.
I feel the we have to shell out a huge amount per month in terms of over all maintenance, may be in the range of 10000/- per month.
Is it worth going for this project.
God knows how many other charge we have to pay when it is ready?
Did any one already signed their agreement ??? please let us know.
some of us have got the draft agreement now, pl. list the unacceptable clauses. we wil discuss in a forum and take it up with the builders jointly.
today the sales guy from BC called and ask for remaning 25%-4L paymant,
can any one send the draft Aggrement on my Email Address.
sayahmed@km.com.qa
or dohasayeed@yahoo.com
Ahemad,
you can join nikoo-homes@googlegroups.com.
Lot of activity going in this group. It is the right place for all the buyer of Nikoo.
We are doing good progress as group/team.
We have ll the documents here.
Hi,
Can you please add my email id
vish1403@yahoo.com
in google groups.
I have booked 1 flat yesterday and would like to receive the latest info/discussion.
Regards,
Vishal
If you ask BC about carpet area they don’t answer,
Club house apart from membership fee, there is monthly fee in the agreement .
Overall agreement looks horrible…!
If u read the agreement, the overall area is 106 acres.. whereas, BC had initially mentioned about 121 acres.. wonder what happened to the 15 acres..??? 🙂
Hi Sait,
Thanks a lot for your offer. Kindly send ur number to me so that I can send my address to you. i would like to send the expenses involved in this process and request you to kindly accept.
Tnx & rgds,
Madhu.
9342234962.
hi Madhu,
sorry i was out i did not see your message i just saw it, you can msg me on 9880025663, i will courier the same to you, as far as cost once you move in BC we will have dinner in your apt.
Hi,
Thanks for your offer but i have cancelled the booking. All the very best.
Regards,
Madhu.
Mr Sait,
Please clear the air here,are you the ‘Broker’ or ‘BC’ guy or a ‘Buyer’ ?
If you are a buyer you wont push so hard for sales like this with out warning the innocent buyer with ridiculousness ‘agreement’ he has to sigh.
Are you aware of the BC ‘agreement’ clause ????
The apartment cannot be sold within 18 months of agreement is what I read in the agreement. If needed to sell within 18 months period, 100/- per sqft of SBA will have to be paid to Bhartiya. Where is it mentioned that the apartment cannot be sold/transferred upto 10 years?
@sourabh,
first, I paid 20% amount
second , from first meeting i told i will pay 20% amount then only when u will show me approval doc as they itself r saying SBI approved project… simple
yea they try to mold me but i stick to my words and agree to follow them to his word …
so when they given approval copy, next day i paid…. it’s not a big thing if they itself r telling project approved from SBI…
i don’t know about others but in my contact area all did
Hi Madhu,
its big bunch of doc, not able to mail, can you provide me you r address i will courier,
BC should have customer friendly agreement otherwise it will be merely a money making tool for BC and some innocent ppl will get stuck with their lifelong savings.
Would it be another diamond district?
It is mivon technologies
Its been 2months and I am still confused whether BC is a good choice considering they have extra ordinary clauses of 25% down payment, 3 long yrs, club house is kept with BC means they may charge us for our ceremonies, 100Rs per sq feet goes to them when we sell the home and long list of issues ppl mentioned in sale agreement!!, 2yr lock in period…. I am wondering if this is the only project worth buying? can someone pls suggest me good choices pls
if club house will be with BC, then whole Bharatiya city will be visiting Club house then it will ba a public gathering place
What is the technology used in construction @ BC?
Any idea ?
Surabh,
you can join nikoo-homes@googlegroups.com.
Lot of activity going in this group. It is the right place for all the buyer of Nikoo.
We are doing good progress as group/team.
Dear all, I tried to join the group as a buyer, but the request bounced. Can any one one tell me as to I could be a member of the buyers’ group?
SKMittra
Please share the group link
nikoo home owners, pls join nikoo home google group. Very active group with around 180 members. thanks
I heard that club house will be with BC and not with the residents. Is that correct? that means they can have anybody in the cub house they want. Can anybody comment?
the google group is not for BC sales team.
I do not want to pay till I get clarity on some of the clauses.
Hi Sait,
Can u kindly send a set of docs to my email id: madhuvs@yahoo.com.
Tnx in advance.
Hi,
some of us have got the draft agreement now, pl. list the unacceptable clauses. we wil discuss in a forum and take it up with the builders jointly.
I will come back with the discussion points in couple of days.
In the first glance, there is no mention of UDS, CARPET AREA ! this are very basic.
Hi Sait, You have paid without understanding the clauses in sale agreement ??
Do you undertand UDS, carpet area etc.in this property !!!
It is not wise to pay without gettng complete clarity.
Sales people have told Rs.100/- to be paid , if the flat is sold before the sale deed signed. ten years not acceptable.
Pl. make a forum for us to discuss and talk to builder
sps,
There is already a group, and we are already discussing these issues.
you can join nikoo-homes@googlegroups.com.
Lot of activity going in this group. It is the right place for all the buyer of Nikoo.
We are doing good progress as group/team.
Hi ganesh,
I am keen to join the group, kindly let me know the process.
I tried the link, but I could not get in to !!!
Now I am really worried, whther to continue with BC or not.
I am not clear, what are we buying in BC!!!!!!!
can u upload the sale agreement conditions in google docs ?
@ girish: absolutely… did any happen to see the agreement..?? and anyone planning to pay 25% before agreement?
Rgds,
Thanks Nency,
It sounds great, you got almost 10 mths to pay the 25%.
Does Prestige generally gives time till SBI approvals to pay 25% amt. or your case was different.
Sorry, I am asking too many questions, but I am kind of getting interested in this pre. launch thing 🙂
@ Ahmed: for delay it is 4 rs per sqft. There is a grace period of 6 months. Also, you need to prove that the builder has delayed…!!!
@ Nency: Totally agree…
anyone else got the payment request?
I am more than happy if Sait is a sales guy so that he can represent (*) this forum at BC and in turn help us with our queries and BC’s answers.
* Conditions apply
Hi all
The application form that is given at BC states that I have to pay 1% towards cancellation fee if I withdraw the application before signing the agreement of sale for any reason.
Does this mean that I have to pay 1% only to check whether the agreement is good or not? Is this a common clause?
I want to finalise a deal with BC but am not sure.
Thanks
Gautam
Hi,
Any one processing (or processed) loan for BC from SBI?
If yes, please share the contact details of the executive with whom you dealt with?
I got one of the worst nightmare today when I received the draft of the Sale Agreement. This is one of the worst sale agreement’s I have seen. This builder is thinking as if he can write anything in the agreement. Why on earth we should pay Rs 100 per sqft to this BC builder even if i want to sell a BC apartment after 10 years. This clause is ridiculous. Once everybody gets the sale agreement we should talk to this builder and negotiate on the clauses rather than agreeing to what he is saying.
what is the clause for delay in Appartment delivery/possesion date
10 years? is BC planning to give possession after 10 years 🙂 usually builder charge if you sell before completion..
correct, but here is different, it’s like that gov selling lands, condition like gov and cost like private… funny here……
Hi All!……I am looking to book a flat in BC. can anyone tell me what the actual price. It was mentioned to me that last price was Rs.4120 per square feet. All of you who already booked it. Can you tell me what actual amount you paid per square feet in cluding all charges. Does it include parking charges. How about mentanance cost as i believe it may be huge looking at the plan.
Hi, price now is 4120/- per sft which is basic, all other charges are extra, the initial price was 3870/- per sft, you can collect the cost sheet from BC or give me you email id i will mail you.
We are interested in a 3BHK with staff Qtrs. The sales team is insisting us to let them know earliest we would do the initial formalities. Please let us know on the documents we need to ask for.
tell them to share the complete set of doc or give me your email id i will share with you
Are you a sales guy from BC?
Looks like Sait is a sales guy. He has positive answers for the queries. He is able to invest his time in sending mails and addressing others queries.
Hi,
Can you send the document to sublime_guru-@yahoo.com. I am looking to book a flat in Bharatiya city.
Thanks
Roshan PV
I have shown interest in BC but was told that tower 6, 7, 8 are sold out and tower 6 booking will commence shortly . Any recommendations on the project?
Give them the booking amt cheque and letter of intent, you will get a so called “Cancelled booking” apartment available within these towers only (6,7,8) in a few days.
I dont think they are going to open any new booking any time soon (in next 2-3 mths) even if we go by this moneycontrol video (https://www.youtube.com/watch?v=oTU05WzIyo4) BC will sell some 800 apts in first phase, which I think is tower 6,7,8.
hi all,
tower 6 is opened for booking, check with them.
Looks like you are from the sales team of BC. All of your post is in favor of the builder whereas people who bought in BC are not happy with so many things like agreements and other stuff. Feel free to disagree.
I am holding a 1.5 BHK on tower 1 which is east facing and have garden too. If any one interested let me know.
How is it possible for yr to sell yr flat i wonder? The sale agreement has to be executed in the same name as per the name in the expression of interest form/allotment letter. Is there a loop hole through which u can nominate a third party? Pls let me know
sir in which project is your flat, because BC opened 6, 7, 8, 9 only,
HAs any one took Legal Openion on Documents regarding Resedential Land na Kharab Land..
Is there a mail group for all those who brought the appt in Nikko homes ? i would like to join
Has anyone got a copy of the legal docs? I was told that I can go thru the docs in their office but will not be given a copy.
Also has anyone been given an allotment letter with the apartment number and the floor plan for the same?
we have received the complete set of documents from BC, i am not sure to whom have you spoken,
I am yet to receive the allotment letter but my friends have received
Hello Sait,
Have you paid 25% money without sale agreement ? What are the documents you got
?
Regards,
Ata
i am yet to sign the agreement and yes i have paid the 25% as this is the norm of every builder in bangalore, only difference is BC is asking 25% other are asking 20%, FYI even after paying 20% it is taking 6 to 8 months for other builders to sign agreements,
complete set of doc (from start to now), you can also get a copy
prestige(in PT) is asking only booking amount as 200000, 30000 and 500000 for 1,2 and 3 bhk and i think it’s 10% of flat value, and then till sale agreement and till loan no any amount.
Req PT firstly it is second phase sale, for the first phase they collected 20% then the agreements were made,
bank will also ask us to pay first 20% then they will sign the loan papers, i am not sure how you are getting this done
, nitesh told correct. but he didn’t give full details. I booked
In PT in pre launch offer in 2628rs and booking amount
same as above, and after that 20% of sale value of flat means booking amont is under in 20%.
Hi Nency,
For prestige PT pre launch, was the sale agreement done in 30 days??? or you paid the 20% in 30 days and the sale agreement was done after getting approvals?
I think pre launch offers are for projects without all approvals. and approvals take some time and sale agreement is done after getting all approvals. But the sale agreement amt. (20% including booking amt.) is to be paid within 30 days. Correct me if i am wrong.
that time i paid only booking amount, remaining amount(which is making 20% of sale value) i paid when SBI approved project and this thing i told to Prestige guys and they agreed, yea but sale agreement they made after that when i paid 20% amount.
one advice to all BC coustomer, u asked them(BC team) give approval notification document which they got it from SBI, if they r giving you this thing then u can confirm from SB RACPC branch for coinfermation as u want to apply loan from SBI. if all things r gone smooth then no need to worry about(atleast) papers now,
but be confirmed they will give latter as approve floor plan, EC(of 10 year atleast), transfer doc etc… as prestige give all those things are proper manner in CD… and big hard copy of approved plan.
be remmeber SBI loan is important which will make sure papers are good enough…. and only SBI, no other bank approvl as ICICI, HDFC not eve LIC….
Thanks for the Info Nency,
One more question. How long did it took Prestige to get all the approvals. I mean how much time you got after you paid the booking amt and paid the sale agreement amt?
I just want to know these details to know about Prestige pre launch projects.
surabh, march 2011 i booked, july-aug 2011 they officially launched and oct-nov 2011 sbi approved and i got loan jan 2012
Some of my friends bought apt. in recent past, every one got the papers before giving 20% agreement amt.
This does not sounds logical as well, that 20% (25% in BC case) is agreement amt. how can we give it without checking the papers or signing agreement.
In case of pre launch offers, where it is known to the buyer (who are actually investors) that permissions will be available after 6-7 mths it sounds ok, because in that case the buyers get a better price against the risk, but not in this case.
Did any one got the papers till now???
any one can get the paper from the builder, it all depend how you approach,
yes i have the complete set of paper and the same was vetted by a reputed lawyer.
I don’t get this, why does it requires to approach the BC in certain manner to get the papers. These are legal document of a property i have paid for not any nuclear bomb design. If its made available to one buyer, it should be made available to all buyers, why so much secrecy?
The last apt. I bought, I was given full set of legal documents when I paid the booking amt.
Even I dont understand why this builder is secretively giving docs only to few people? Something fishy there….
@Sait, how on earth are you paying 25% without seeing the agreement copy? Are you the one who is preparing the agreement copy? I received my copy today and it is one rubbish document. It is not making any sense to me on certain clauses.
Everybody, please get your agreement copy and then pay the amount. Dont pay amount upfront.
Hi Sait,
Im not sure how you have paid 25% of the value without knowing what is in the agreement… Either you are one rich fellow or probably …..
Anyways, no one insists on 25% for signing the agreement. In fact at Shobha City which is 0.5 kms away, they are executing sale agreemnts at 10%. In fact sale agreement is a pre requisite for availing a loan…!!!
Rgds,
thanks for the compliments:::
every agreement will have the same clauses which will be in favour of the builder,
can we change the clause in our favour, a simple NO from the builder,
two point to note.
1. Their will be a clause where the builder would have mentioned if he delays the project beyond the mentioned time he will pay X% of interest/rent and very next clause will say FORCE MAJURE (which means acts of god) how he manipulates it depends on builder, builder may say for 7 days i could not get the sand as they were on strike so i lost 70 days in setting things to normal, like that they have many reasons to say.
2. If the builder has huge stock to sell even after 90% completion of construction then he will call all those who have booked and say since i delayed this project for 6 months i paying interest as per the document, we will be very happy, this will be one of his marketing acts, very next month he will send us the bill for maintenance and collect back more then what he paid us, we will not even question him saying as the construction is still on why should we pay maintenance.
can we change the above clauses in the agreement, if not then why should we spend time on this.
In the past also i have purchased flat from reputed builders and same was followed.
Agree with you we need to sign the agreement to process the loan, will the bank fund you if you have not paid 20 or 25% of your share.
You are one of the people who are not even trying to change the attitude of the builder. If many people approach the builder with a threat to cancel the booking based on certain clause in the agreement, builder will have to do the amendments but the said part is that people do not want to even try to do that and that is the reason, the agreement has been one sided. People like sait thinks everything builder does is right and there is no change required.
Vinay,
What Sait is telling is practically correct.
And what you are suggesting has been tried earlier, even small builders don’t change the Agreement clause even if you go with many buyers and threaten them to change clauses. I have tried this earlier.
That is why a regulator is highly required, but till then it wont change drastically, unless you stop each and every buyer from buying an apt.
Saurabh, the question here is not whether BC will change the agreement to suit all the buyers. The question here is, if the draft agrrement is provided, people can decide whether they want to go ahead. Else, they can take back their money.
Why on earth would you pay 25% and then realise the agreement is not in your favour?
Rgds,
After reading the Sale Agreement and Construction Agreement draft, I take my words back.
I was under impression that BC agreements will be similar to other builders agreements which are generally biased towards builder (like my previous builder’s agreement). But BC agreements are totally one sided and have no consideration for customers.
Those who have already booked apt. please join the Google group (Nikoo Homes – Bhartiya City). This topics is being discussed in the forum and hopefully we will find some solution.
Totally agree with you Vinay. The point is, I have a approval from Corporation Bank ‘ In principle offer letter’ for funding pro rata basis entirely ( even the 25%). But one of the condition is that sale agreement has to be executed without which they wont disburse. This goes for all banks.
All we are saying is, let BC execute the sale agreement with the amount already given with the condition that the rest of the amount has to be paid within 10-15 days. I think thats enough.
Also, it will give us a idea whether we even want to go ahead with the purchase ( depending on the terms in sale agreement)
Rgds,
Hi Mark,
Even I am not in favor of paying 25% without getting sale agreement draft.
In fact I have informed BC that I’ll deposit money to my acc. only when I get all the documents and sale agreement draft.
this formula is tried and tested and failed, many of the owners of big projects approached builder for many things, they could not get any positive response from the builder, worst the group itself was broken and many good things could not be executed, i would not prefer my next door friend to be my …………………
what Mark says can be tested, let them get the agreement we will hand over PDC of 10 days,
Anyways i have spoken to the CRM they have assured in next 2 days they will provide us the agreement copy, we can look at the terms and decide our future.
Sait
I see you are very active in uniting ideas and people. Great. Just ensure that taking 25% before agreement is not to book it as black or some portion of it. They may not show entire amount in agreement. Also, it may be OK for some investors, but it is better to be aware of the process.
If you go in for Proportionate funding then Yes. LIC HFL has agreed to pay that.
Even corp bank has agreed to it.. we now need to ask the builder to give that option at least. The agreement as it is; is anyway totally in his faour.
One clause even says, the builder not to be held responsible for defects in tiles etc… if we do not hold him responsible.. who else do we hold responsible?
Rgds,
@ Ata: totally agree with you. I think its ridiculous to insist on 25% without the sale agreement. In fact most of the banks are operating on 80:20 proportion funding for all payments.. So as a person availing loan, I would want my bank to fund 80% of this amount as well. Only Glitch, they want the sale agreement executed.
Rgds,
If you are opting for loan, there is parallel processing available, where in once you start processing your loan, after bank approves your loan in principle (based on your eligibility) the bank can issue you a funding letter for balance amt (25% of basic cost – 20% of total cost which is equal to around 2.5% of basic cost) BC will consider this approval letter against the balance amt. But that amt. is only around 2.5% of basic cost.
I came to know about this when i asked the same que. to BC sales team. Now Axis bank is processing my loan under this.
Yup Saurabh, In fact I have got the in principle sanction letter from corporation bank. Their ( and other banks only requirement) is that sale agreement has to be executed before disbursement. In fact Corp also has an option to funds pro rata basis entirely which I think is fabulous…
Even I have got a approval from LIC HFL for home loan and disbursement will happen on providing Sale Agreement. I think BC should understand this and oblige to providing Sale agreement based on such Bank letter atleast.
Are you sure you received the legal docs. I have booked a 3BHK in BC and am also part of the google group. None of us have received the draft agreement yet and my sales rep said that they would send the e-copy this Saturday (but this may get extended as it has happened a few times before). The group has decided to only pay the remaining 25% after reviewing the draft agreement. So please make sure to hold back on your payment till you get and verify the draft agreement.
reputed lawyer has given the legal opinion, i will share his opinion to you shortly,
Its a very sad thing that here everyone is only guessing, arguing, and trying to reason! BC has not divulged anything more about the project than the imaginary dream on their brochure! As for the documents and agreements, God alone knows why they are keeping it such a guarded secret!
I think from website data and credit reports from ICRA BC still needs to obtain Building plan clearances for starting building. Till that time they will be delaying agreements
Is there a mail group for all those who brought the appt in Nikko homes ? i would like to join.
nikoo-homes@googlegroups.com
thanks for the info, how do i join
Thanks a lot. I am sending multiple request to this group, the moderator is not approving not sure if he/she is on vacation ….
Folks, heard there is underpass planned by BDA in BC. Any idea?
Don’t know about BDA, but looking at the BC plan its clear that it required a underpass to connect the two parts of the the project. Also you can see in the plan that a road is across PRR, the underpass should be on that road only. Even if BDA has not planned it BC should get it done. May be we can ask the BC guys.
I am not able to understand how the educated guys can be so ignorant. Why the hell BDA, BMP or BBMP would construct or allow to construct underpass for private use under the PRR. Bhartiya city is not a govt organization and BMP/BBMP would not care at all how they are going to connect their 2 phases of construction besides the PRR. Get some brain guys, do not go by the words of the sales team. Don’t get fooled.
Its sheer common sense, BDA, BBMP are to facilitate public they dont make plan in isolation. If there is a lot of traffic expected to cross from one end side of the road to other they will have to provide an underpass or even the builder can suggest one.
And this in no new miracle. Its just a part of planning and has happened many times earlier as its just for public convenience.
e.g. L&T Serene county Hyderabad has 9 towers on one side of ORR and only 2 on other side, a underpass has been provided for the road which does not leads any further apart from the 2 towers.
Also please read and select your words carefully before replying comments, no one has mentioned that this info is given by the sales team.
Appears that you are from sales team, because no investor will care for these words (Sales Team)
hehehe… how thigns are grossly miss-understood…
till now no one has said that there ‘Will be’ an underpass, it’s only been suggested that there ‘Should be’ an underpass and lets find out ‘if’ an underpass is in plan. And this need to be verified. But already there so so much reaction to an imagination :-o…
Neways, just to clear my self, I live in Netherlands, so cant I be from sales team 🙂
Now I am expecting some one to message that I am from BC Europe sales team (if there is any) ;-)… For that guy I don’t have an answer :-D…
Anyways, to all those who want to know if there is or not, instead of typing here lets find out, go and ask the BC guys (I can’t go for the obvious reason, though I have sent a mail and have not got any reply till now, as usual BC team is “busy” in something I dont know).
if u are not from the sales team then how do u know they never said that there will be an underpass. Are they updating you what they are telling to all their clients. They may not have told u, but at their discovery center they are telling it to everybody. If u ask them, they are telling it that there will be underpass just verbally. Neither they have it in the model that they have displayed not written anywhere in any brochure or document.
Read all the comments above and u’ll also come to know that no one said that there will be an underpass.
I don’t think it require to be from sales team in order to read and understand comments.
Anyways, out of this topic, does any one has final plan for PRR??? I searched the net and found various versions, but not the final one. If some one can share it, it will be good.
Also what is the ongoing price in BC?
And any idea why they are not opening the bookings for other towers?
Even in DLF western heights there is a public road across the project and a under pass…
hi vinay,
if i am not wrong you had canceled your booking some time back and still you have interest in BC, good, did you get your money back
Yes, I have cancelled my booking and have not got my money back. I have interest in this blog to see and reply to people’s query. I am a fan and an active member of Harsha sagar blog.
Hey Vinay,
What is your experience with BC after cancelling the booking??? When have they promised to return your amt. and how much they are deducting for cancellation???
At the time of taking money it self they are not easy on customer, i want to know there attitude while return…
Also did you booked somewhere else?
I cant imagine BBMP doing it.. they dont even build where there is need for it..
who will fund this, debt ridden BBMP or JUNRUM ..
BBMP , i guess ,will simply say take a U turn and come back.. (possibly on hennur baglur junction of PRR)
Even BC browser dont have any underpass.. i guess..
until PRR (i guess will take long time) is ready i guess ppl can just cross two sides..
Hi, I am looking for a 2BHK in BC. I am told that tower 7, 8 and 9 are all sold out.
Anyone here booked a flat in those and willing to sell/transfer? I am interested. Please contact.
hi, please call me i have option. 9945806871
your number is switched off. can u pls switch it on. i want to talk to u.
you can call now
Can anyone tell me the exact carpet area in BC? Has anyone completed the agreement process.
what is final recommendation to invest or not? Plz suggest
I have taken back my cheque. Enough is enough. The staff at BC were totally unfriendly. You can take back your cheque they say. No info on documents etc. So I took back the cheque.
good. even i cancelled my bookings. i booked in hurry but later when i realized the carpet area and undivided share of land being too less, i decided to drop.
Can u pls give ur floor number?
HI, What is you flat no which you canceled,
i dont think it will be a good investment as i dont think they can keep thier promise. The economy is going towards double dip recession and project like BC will not complete in time. They will soon try to increase price and they will also aee a lot of cancellations due to economic and slow GDP growth.
Hv booked 2.5BHK Monday at 4200/- No discounts. Please let me know if approvals are obtained. Also 3 lifts only? What of Sewage and treatment?
One of my fried who booked an apartment there was mentioning there were some legal issues with it as par his lawyer, The main point he mentioend is that the land surveyes were the nikkoo home is being built is marked as Commercial property, his lawyer is saying that it should be residential.
I have heard the staff of BC telling a lady who had booked in Tower 6 that if the price goes up she would have to pay more even though she has given the cheque as the launch was slated for two weeks later!!!!! Is this right or are BC staff trying to strong arm the gullible public??? This seems a very wrong thing to do.
Which tower did you booked the apartment and on which floor?
is 4200 the basic price??
we wanted to know about public opion of duplex hoses in bhartiya city tanisandra in phase one or is one who has booked the same one please reply
I just spoke to BC contact person (Aswathy), she just said yes your PDC got encashed!! you will anyway get the draft copy by 20th dec, don’t worry.. what is this? ridiculous.. they promise not to encash before we get a draft of agreement, but do not take the responsibility of keeping it up.. !!
We r not at all happy with what they did..
Do any body know wether IT SEZ come in phase1? according to ICRA creit perspective Dec 2011, in phase 1 no IT planned. But they claim before housing completes IT start functing!
Do any body has any idea?
Excavation work has already started for IT-SEZ a month ago…we were told by their GM that they will come up in another 2 yrs before residential towers completion
They have 10 residential towers planned, (Tower 9,8,7 & 6 Launched) with the launch of every tower the prices are going to increase by at least by Rs 200 per Sq Ft.
Those who have not able to book so far, you still have a chance to book as lower rates. The rates during possession will surely increase by minimum Rs 1200 per Sq Ft from now.
The current price is around Rs 4,000/-. If the prices are going to increase by another 1200 during possession (which may be 4 years from now), then its not at all a good deal. It is not even giving you a return of 10% p.a. An FD can give you a better return than this property. And then you need to factor in the risk that you are taking like delays, new builder, economy slow down and others. Not a good investment.
I get your point, but eventually it is the way you look at it. It matches bank rates for sure and there is a good possibility of even a higher return. Appreciation will also continue to happen at same pace as there is development planned all around for next 10 years. Additionally from fourth year, rent kicks in and it is going to keep increasing as development increases.
We are not paying whole amount now iteself so the return of investment should calculate accordingly.
Leveraging power(the home loan) makes real estate a double edged sword, if you get better return than your loan interest than its good gain, otherwise…..
FD is only your money (in hand), you can’t leverage for arbitrage on FD interest rates(if any such opportunity), but in real estate you can.
Mostly people get better returns compared to interest rate on loan, if it is not starting of a recession…
HI!
I failed to understand why people say “do not write negative comment” for BC. Negative comment are as important as the postive comment. Both postivie/negative to verified before prespective buyer and seller.
Even i booked in BC but i still want to hear negative comment. Bcoz, i wanted to be informed and make correct decision to stay invested or exit…..
Believe some of the people comments on this site are eye openers for buyers. I visited several sites but never observed those issue and when i check on this site – i was amazed to see several negative/positive comment. Most of time 100% true which i failed to notice in my visit.
Cheers,
Cheers,
Beware guys!
BC has just encashed my PDC check for 25% before even showing us the draft copy of agreement.. Aswathy, our contact sales person in BC had promised us not to encash until we are shown the draft copy!!
Don’t know what to do now.. this is not right from BC’s part.. how can they just encash without even providing a draft agreement copy!!!!!!!!
CHEATING!
As i have already booked a home with a diff builder, i recommended this to few of my friends who were looking for investment. This would be one of the best projects in bangalore and i have missed this.. kudos to those who have bought here already. As the builder has already funds available/sanctioned, delay in the project also would be very minimal except for genuine reasons.. If i can afford another flat, i would have bought one in BC.. and one of my friend is gonna book. BC remains one of the most discussed recent launches.. Congratulations and stay positive.
why do you say you missed this. They have many towers to be launched. You could have waited for the opening of the other towers and then book. It looks like you are from the sales team of BC.
no Vinay. I just shared my thoughts about BC. i did not go for BC as this is my first home and can not really wait for 3+ years and i have already got locked into a different project.. but yeah. opinion differs, few may think this whole project will fail.. i am not talking abt the end result here.. but i believe the concept is good and it has good potential
I agree with Sri. The builder is financially sound and has all the land on his name. He has sanctioned loan from investment banks for the project so if all goes well it will be a good investment.
BC has 2500 flats in 16.5 acres. Compare this with 23 acres of Prestige Ferns (18 floors) city having 1700 flats or Purva Skywood (20 floors) having 800 flats in 12.5 acres. or even 1400 flats of Purva Fountain Square (13 floors) in some 12/14 acres.
While BC is 27 floors, I am getting a feeling the open land would be limited in BC as compared to other large projects and hence the builder is also able to offer the flat at lower cost.
Is it really a good investment or would turn out to be another middle class apartment complex whose owners thought it would be a dream house…
I am not from competition but am looking for views of other investors on this topic..
I think open area would be better in higher rise project compared to similar flat per acre ratio project, density of residents could be more here as the number of flats are more.
1. Purva fountain – 1050 apts – 14 acre – 13 floors
2. BC ~ 2500 – 17 acre – 27 floors
Density is almost same. Moreover, walkways at 17th floor – so it will not be congested and you feel the same! You may see less people on ground ….people must be njoying walkways….
I request all those who have not purchased or missed the opportunity please wait the builder will open other blocks, but please don’t write negative as every one who has purchased have put their dreams in it with money. with your negative comments they will be under tremendous pressure in life which can have bad impact in their personal, business life.
If you have one to one info which is verified then write. We will also support you and take thing forward.
Sait, This forum is more useful for a prospective buyer than an existing customer. A person has to see both sides of the coin before making a decision which is exactly what this blog is doing. I agree comments regarding kharab land and lack of approvals don’t have any base but what about the questions raised on UDS, density of the apts and the ability of the new builder? aren’t they valid? don’t call people competitors and loosers just because they posted comments you didn’t like.
Dear Tarun,
Agree with you but if you read my comment ( I request all those who have not purchased or missed the opportunity please wait the builder will open other blocks,) i am welcoming the new buyers at the same time i am saying just because the person decided not to buy he should write whatever come ti his mind, there should be some logic, about the other issues i had given the input on it in the last few replies. whether i like or don’t about the comments of few if that is fact i have to accept.