2026 Update: Bhartiya City Has Grown Far Beyond This Original 2012 Post
The original coverage below is from 2012, when Bhartiya City had just opened bookings for its first Nikoo Homes phase. Since then the township has expanded considerably — pricing, phase count and amenities below are all out of date. Here’s where things actually stand as of August 2026:
- Now on Nikoo Homes Phase 8 (“Bhartiya Garden Enclave”), at Bellahalli on Thanisandra Main Road — part of the same 125-acre township, roughly 500 units across 6 towers on 11.35 acres, currently at EOI/pre-launch stage.
- RERA: registered under PRM/KA/RERA/1251/309/PR/070526/008628 — verify current status on the Karnataka RERA portal before booking, as pre-launch details can shift.
- Current pricing is nowhere near the 2012 figures below. Nikoo Homes 8 listings show 1–4 BHK units from roughly 93 lakh up to 2.9 crore (703–2,228 sq ft), reflecting both years of appreciation and larger/premium unit formats than the original phase.
- Track record: the township now houses 6,600+ families across its earlier Nikoo Homes phases (2 through 7), which is the more useful signal on execution risk than the “still in planning” concern raised in the original 2012 post below.
Treat the pricing and phase information below this line as historical context from the original 2012 launch, not current figures.
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 (2012 launch)
- 1 BHK
- 2 BHK
- 3 BHK
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 (2012 launch price — see update above for current pricing)
- 1 BHK – 29 Lakh
- 2 BHK – 39 Lakh to 47 Lakh
- 3 BHK – 64 Lakh
Bhartiya City Investment Plus Points (2012)
- 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 (2012 — largely resolved; see 2026 update above)
- 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
Anybody interested in 1 bhk, 781 sft on 15th floor in Nikoo Homes Ph-1? For details contact 8861344005.
Please share detail and price @saurabh.srivastava1804@gmail.
Hi Guys,
Need input from you guys on the following things about Bhartiya City. I am thinking about buying a flat in the project, but following negative things are pulling me back. Please provide your take on these
All the inputs are for 2BHK 1079sq ft in Phase 2
1. Builder is charging 7.2 lakhs over and above the mentioned per sq rate. This comes to around 667/sq ft. Including this extra actual per sq rate is around ~5300/sq ft.
2. The annual maintainance charge for the flat is around 48,555/-. This is Rs 4046/- per month. This seems exorbitantly high for a 2BHK flat. Is this high because they charge maintenance charge of all of BC?
3. There is a charge for kitchen 1.5 lakh and it is mandatory. This seems very high as one can easily get a modular kitchen done within 1 lakh for the size of kitchen in the 2BHKs.
4. Although the saleable area of the flat is 1079 sq ft. The total area in the flat is only less than 800 sq ft. Do you think this lower than the industry average?
5. The space of the Bay windows are also included in the total sq ft. But these Bay windows are not that usable compared to the normal floor area. That brings down the actual floor area even lower.
6. Heard that although one block of the BCIT is completed, they dont have any companies who have taken space there. Is this true?
Any inputs on these points will be highly appreciated
There are nearby reputed builders offering around same price. I guess its best to go with them instead of hype of BCIT
@raju
Let me know the builder name and the location. I will go check and if suits i will book one.
Mail me on mithunbnrje@gmail.com.
FYI
Waters edge – Rs.7 per sft per month
Embassy Lake terrace -Rs.16 per sft per month
RMZ Lattitude – Rs.7 per sft per month
Bangalore one – Rs.4 per sft per month
Bhartiya city – Rs.3.75 per sft per month
Which projects you are comparing with?
BC sells flats telling story of BCIT but no company for BCIT although everything ready.
PRR no final roadmap.
Beware Investors.
They told that they have increase price. Any idea how much is price now?
http://timesofindia.indiatimes.com/city/gurgaon/Consumer-court-orders-12-compensation-for-flat-delivery-delay/articleshow/47593071.cms
@ Raju, they completed BCIT structure in record time, but its only the structure and is not furnished yet.
What are you expecting that companies will be standing in queue to occupy as soon as the structure is completed? Sit on floor and start operating?
The project is running on time that is good, unlike other so called “reputed” builders whose projects are running late by years.
@saurabh,
can you guarantee IT will be fully operational by this year end as hyped by soldiers ?
yes you are correct company cannot sit on floor and operate but as far as i know once external structure is completed & ready that is enough for a company to do internal plan & design they want. Till now the internal work had to be in pace but it does not seem ? kindly enlighten me on this.. The markting soldiers of city give different answers at different times.. Also commercial building are ALWAYS completed ON TIME even by UNITEC against whom court gave recently orders, Tommorow you may say “reputed” xyz builder took 20 years of delay and c*ty buildr took only 15 years look 5 years of less delay.. so this is good 😀
@Raju,
Even if I guarantee, will it matter??
And can you guarantee that it will not be fully operational by end of this year?? As that can be hyped by competitor soldiers 😉 (and even that dose not matter)
They might have started internal work or finishing structure, you can visit site and check.
And must be in talks with IT companies.
Fact is that till now BCIT project is on schedule. And hence its more likely to finish in time.
Till there is any delay in construction, what’s the reason to assumed that it will not be completed in time?
My company which I work for when shifted from one tech park to other tech park, it had made aggrement at time of construction of new building. They started internal work before external work was finished, Employees were aware about location almost 3 years before shifting. Also internal design & structure, cabins, glass and plywood partitions, cabling & networking was done as per my company needed & it took almost 8 months to complete..
As per BIT external structure is complete.
I had earlier planned to invest & I came across this project but I could not as phase 1 was already booked that time, after waiting now I feel project is very very Highly Hyped one.
Anyways if you know any company is planned to shift LET EVERYONE KNOW..
Even Unitec has completed its commercial project ahead of schedule.
bc is selling on name of tech park & (proposed) ring road.
10 blocks of residential p-1 almost similiar in p-2 and 1 single tech park which is not even occupied.. smells FISHY
Co earns more in commercial proj than residential they why bc is focused on residential rather expanding commercial ?
RBI reduced rates and banks followed.
http://timesofindia.indiatimes.com/business/india-business/Allahabad-Bank-cuts-lending-rate-by-0-3/articleshow/47516717.cms
Hope there will be increase in property sales.
@Saurabh So far in 2015, RBI has reduced 0.75%, real estate sector was hoping for a full 1% decrease. The expectation of next cut, if at all it happens this year, is only in December now. Even the 0.75% cut so far has not been fully passed on to customers, but eventually will.
I do not see any immediate turnaround, as macro economic factors become favorable improvement in sales will gradually start.
Will Taxing Unsold Flats Helps Bring Down Property Prices
Roti (food), Kapda (clothing) and Makaan (shelter) are primary needs of an individual. But with skyrocketing property prices, the makaan seems to have gone off the roof, especially for the common man here in India.
Despite of poor demand, property prices are holding up in many parts of the country and even ascending in some pockets. This scenario exists even as the real estate sector at present is facing multiple problems such as huge debt and high inventory. Builders have just not bothered to step down on rates and turnover their inventory, which is why it has not yet translated into a meaningful correction for the real estate market. There’s ostensibly a fear that they (builders) would lose their upper hand in while dealing with prospective buyers.
However, this may change soon and here’s why…,
So, what is going to change?
Real estate developers may be asked to pay tax on the ready flats and accommodations which are lying unsold. The Income-Tax department is planning to change the tax treatment for builders who hold onto inventory to their advantage i.e. to hoard prices.
As per the central action plan for the year 2015-16, the Income-Tax department is planning to assess real estate companies on a turnover basis, based on stamp duty value or circle value, in respect of all transactions relating to land or building or both. This will have an impact in case of real estate developers and traders, where immovable property is kept as stock-in-trade. In other words, it seems that real estate companies will have to pay tax on unsold properties.
In the recent years, Court rulings have gone against builders where Income-Tax department has asked them to pay tax on ‘Deemed Income’ under income from house property. This is technically because there is no ‘conveyance’ and they continue to own properties.
This move comes as an effort to increase the tax revenue of the exchequer and if implemented well, could help the Government in walking down the path to fiscal consolidation.
What would be the impact on property prices?
PersonalFN is of the view that if this move is implemented prudently real estate developers would be discouraged to pile up inventories and accept market determined lower prices. As a result property prices may come down.
I am of the view that:
1) Taxing builders for unsold inventories
and
2) Real Estate regulator bill
if implemented prudently, will be one step forward in making housing affordable to the masses. Real Estate prices will come down by a reasonable extent and rules will mostly be in favor of the buyers.
However, if not implemented properly, it will be TWO steps backward. Corrupt govt. machinery will further jack up the cost for the builders, who will in turn try to pass it on to the customers.
We have to wait and watch as to how things pan out. Until then:
Real Estate prices are going to be STAGNANT for a long long time.
The proposal to tax builders for unsold inventory will be shelved quietly and the RE bill is a dud in its new format.Forget the dream of bringing down the fat assed builders and getting homes at reasonable prices.The central govt is supportive of business class and the common man can forget anything in favour of him.
http://economictimes.indiatimes.com/wealth/real-estate/realty-trends/real-estate-market-no-longer-a-good-investment-for-a-household-portfolio/articleshow/47652964.cms
Example:
Bank SBI with daily reducing rate:
50 Lakhs Loan @ 10% Int Tenure: 20 Yrs
EMI : 48251.08
50 Lakhs Loan @ 9.7% Int Tenure: 20 Yrs
EMI : 47261.51
Diff in EMI per Month: Rs 990
So you can save max Rs 990 – Rs 1500 considering all other banks for 50 Lakhs Loan.
Is it good enough ?
Yes, to save Rs 1,000/- people will now start buying apartments. I myself is going to buy 2 of them so that I can save Rs 2,000/- per month due to the recent decrease in the interest rate.
Is it in Prestige Tranquility??
http://economictimes.indiatimes.com/wealth/real-estate/realty-trends/real-estate-market-no-longer-a-good-investment-for-a-household-portfolio/articleshow/47652964.cms
Reduction in interest rates is indeed GOOD. For how many people it’s Enough is a separate question.
Any change (+ve or -ve) in interest rates do make a difference in buying attitude of people. Obviously if its more the change will also be more.
As noted in the post above
Recent interest rate cuts translate to a saving of mere Rs 990 per month on an EMI of 50L.
Rs 990 is an astronomical amount of money for those make Rs 2000 per month. But will they be able to afford a 50L apartment?
Real Estate prices have moved beyond the control of interest rate cuts. It should not be used to gauge the market sentiments. Nor should you use them to make an investment decision.
Interest rate cut only serves the purpose of developers and banksters who use it as a tool for their marketing blitzkrieg.
If you think so @ 4500/Sqft. What would you say about Mumbai where rates are over 11000/Sqft. (for regular apartments, not luxury).
So Mumbai real estate should have stopped 10-12 years back. Because average Mumbaikar does not earn astronomical and is at par with average Bangalorian.
I see a lot of discussion here on correction and bubble. I have been a keen observer of real estate for last 25 years and have followed it in different countries.
1) The first thing I want buyers to understand is real estate prices are not a one way ticket. The prices correct and they do fall.
2) If you study the falls over the world, corrections have always followed steadily increasing interest rates, slow down in industrial growth and reduced inflow of capital.
3) Declining interest rates, increase in industrial growth and introduction of foreign capital have always lead to property appreciation.
Currently the interest rates are declining, the Industrial slow down has bottomed out and foreign funds will flow in to real estate through REITs from 2016. This year will be the best year for buyers.
@Ashutosh
>>>>>3) Declining interest rates, increase in industrial growth and introduction of foreign capital have always lead to property appreciation.
Correlations are good only insofar as to they CORRELATE with your preset notions. And obviously, you discard all the data that goes against that OBSERVED correlation.
Interest rate in US was at HISTORICAL low when housing bubble crashed in 2008. Any idea on what correlation theory it followed?
@Manjushree – I’m not sure on what basis you are saying history low was in 2008.
History low was not in 2008, it was before 2004. I was in USA at that time. Between 2004 and 2006, the Fed raised interest rates 17 times, increasing them from 1% to 5.25%.
Don’t trust me on this, get the facts here: http://www.newyorkfed.org/markets/statistics/dlyrates/fedrate.html
Like I had summaried, housing market tumbled in 2007 following the increase of interest rates in preceding two years (2004 to 2006). And the increasing bubble was caused by decreasing rates from 2001 to 2003.
@Ashutosh
>>>>I’m not sure on what basis you are saying history low was in 2008.
Come out of your dogma of supporting unfounded correlation theories. And don’t try to confuse people by talking about “Between 2004 and 2006,” when FED indeed increased the rates. I am clearly NOT taking about that period.
From the link you provided, it’s very evident that in 2008, when the housing bubble crashed, interest rate was as low as 0.00 to 0.25 (readers please check the link to verify yourself), which was at HISTORIC low. (00.00% …. do you see the point, how low can it get?)
Furthermore, in 2006, rate was 5.25%. In the next 2 years, FED kept on decreasing the rates in quick successions. From 5.25% it went down all the way to 0.0% (or notional 0.25%) by 2008. Obviously, it created huge liquidity in the system. Because of this and other govt. initiatives (Fannie Mae and Freddie Mac) every MORON bought a house, irrespective of whether he/she can repay the loan. Result? Housing market tumbled.
From your own writing:
>>>>>”And the increasing bubble was caused by decreasing rates from 2001 to 2003.”
Same thing happened between 2007 and 2008, when interest rates kept going down.
Now about the other point that you tried to CORRELATE with housing: Foreign Investments
Foreign investors faces huge UNCERTAINTY at this point of time because of the following set of events:
1) Centre’s unexpected demand for Minimum Alternate Tax (MAT) on capital gains on a retrospective basis.
2) Hindrances in passage of vital Bills in the parliament
3) Reforms not being implemented as expected
4) Disappointing corporate earnings ( and it will continue for some more time) and
5) Rise in global crude oil prices
All these factors don’t support the argument that housing market will revive anytime soon.
As I have been saying for long:
Real Estate Market will remain STAGNANT for a long long time.
Cheers,
Manju.
@Manjushree The only reason for your rant is you already made a conclusion and are making an argument to suit your conclusion.
The fundamentals you don’t understand is that for any impact it takes series of cuts and impact doesn’t happen the following day it happens over time.
Anyway its very healthy that a few people think the way you do, it will keep steady the numbers for renters in the city.
Good one ashutosh
When you have to take a decision take it based on your need and pocket size. Positive outlook will always be given by an optimistic person and Negative outlook will always be given by a pessimistic person. If you don’t want to buy no one should force you to buy similarly if you want to buy no one should stop you from buying. You can read all the arguments and warnings over here ( negatives from people who have been failures and positives from people who have succeeded) and after that it is you who will have to decide. More than price you should look for the clarity of the titles. You will be the beneficiary of success and failure for your investment not the advisors. Over here you will find practical advisers as well as theoretical advisors.
Accepting and rejecting should be left to your intelligence not theirs.
san
Hi folks,
Good to see some intelligent conversation here.(full financial analysts and corporate decision makers and few self proclaimed real estate gurus)
I am very poor at this real estate analysis and statistics, new in Bangalore who wishes to own a property( with hard earned money)
However going through this blog, I just realised, it’s is a good idea to wait. I don’t know if the people who are expecting a correction here have already got a home to themselves or have been waiting for the crash in Real estate for how many decades now ( since 2008).
I am ready to wait for this uncertain bubble burst, but I would not want to regret for this decision after 20 years, without owning a property for own use, having spent all the money I could have used instead for buying a property and saving rent/generating rent.(forget the taxation part please)
How would you compare this decision with taking a home at say 5000/sft(what greedy builders charge) instead of actual 4000/sft (market value).
I mean how much would I loose 10lakh/20 lakh for a 2 BHK.
Would I not save/earn a portion of it through its rental gains.(considering that I am going for a good property)
Or else should buy something 30/40kms away from the centre of Bangalore or somewhere near Tumkur where there is not as much demand of property as in Bangalore.
Smart suggestions supported with some logic are welcome. (please refrain yourself from talking about the Real estate bubble burst which happend only once or twice(as far as I know).
I mean how much would I loose 10lakh/20 lakh for a 2 BHK.
Would I not save/earn a portion of it through its rental gains.(considering that I am going for a good property)
Well, you are already willing to lose so just go with whatever price suits you – besides, rental income will be much lower than your money invested in a fixed deposit/mutual funds – so you will still gain. I am assuming you have the cash to buy an apartment outright – if you do not then you pay interest on the loan as well. If you add the 10-20 lacs that you are willing to lose – losses are greater. Also, if you want smart suggestions, try and not look at past performance of real estate as a template for the future.
People are not waiting for correction because they have got homes already – people are waiting for it because property has become unaffordable for the majority.
Also, regarding your regret 20 years later – how is that justified? People cannot predict the market for 5 years let alone 20!
Buy whatever suits you for END USE and not as an INVESTMENT.
And as always – its just my opinion and advice – you do not have to agree nor take it – All the best!
Shefali
i’m an enduser and don’t really believe that there’s going to a big bubble burst anytime soon, at least in foreseeable future…. people talking about it have been saying so for over an year or more and will continue but fact is no one knows for sure nor can anyone predict…
logically, a 2BHK would typically be around 1200 sqft so even with the prices you have mentioned, you are basically talking about 10-12 lacs assuming there’s a 20% price correction which again may or may not happen…. Let me give you some factual info & logic—– a decent apartment in 2008-2009 time when the market was pretty bad ( recession) was anywhere between Rs 2500-3000 per sqft in Bangalore .. now given the inflation that country has seen in last 5 yrs coupled with the significant increase in land price & construction cost its hard to think that one can get the same kind of property now at Rs 4000/sq ft and hence i would say that the risk in terms of you paying extra 10-12 lacs isn’t correct…
There’s no doubt that the market is stagnant right now with very limited demand…Hence my recommendation ( not advise as i’m not and don’t claim to be an expert) would be that if you are looking for self usage, look for a ready to occupy apartment and negotiate hard with the builder….you will also find some investors who want to sell without too much of profit that you can consider…
hope this helps…
1) @ Amir: till what time should I wait?
like in Stock market, we keep a target and then just buy/sell the shares, the very moment it hits that number, without thinking that it will further fall/rise (greedy)
Do you have a figure in mind(project wise) or are you simply saying “IT WILL FALL, IT WILL FALL”
2) @ Amir: you got it right, it is for end use.
and I believe, if you want to buy a super luxury car, because you love the design and style statement it brings, ” JUST BUY IT”
i) do not wait for its price to fall,
ii) do not think about the depreciation it will have,
iii) do not think of its resale value.
( I understand a CAR and a HOME are TWO different things)
3) @ ss: we are on same page, “price correction may or may not happen”
It looks like the real estate market is not doing so well now, so is it like the best/better time to buy/invest.
If it is a ready to move in property and the builder has got availability, I would not consider investing there, as a good move, because the builder with its marketing team couldn’t sell it in 3-6 years. ( Curious)
P.S. I don’t see much of my friends/colleagues who have already invested in properties talking about current value/Interest rates. All they have to say is ” I got a HOME !!”
This is just my view, No one needs to follow this, just want people to contemplate my thought to get a fair idea.
Anyone from tower D of phase 2. Please let me know your contact.
You can reach me. I booked one.
Your mail-id pls ?
My Contact num is 8095413625. Which unit you guys booked at which floor?
I have booked at Tower D. Let me know your contact details.
I have given the expression of interest with 3L cheque for 2 bhk + study for the flat at Tower D on 6th june 15 and still did not get any allotment details from Bhartiya city. please let me know how long it took for you guys to get the confirmation of flat booking. my contact number i 8050064025 and mail id is sksingamsetty@gmail.com
As per this report there is increase in new launches and new absorption of houses:
http://www.moneycontrol.com/news/real-estate/should-you-buy-homenext-six-monthsbangalore_1372118.html#anchore_top_strip
If this is true, why some people are getting so negative here as if dooms day is around the corner???
Dear friend
Just wait for a day and self proclaimed , unqualified but know it all personalities like manjushree n Vinay will prove that this article is crap…
@ss
>>>>>Just wait for a day and self proclaimed , unqualified but know it all personalities like manjushree n Vinay will prove that this article is crap…
Wait is finally over…!!!
If you have not yet figured out that this article is a piece of CRAP, Manjushree is going to make it crystal clear for you. Let’s see.
@ss, you are right. Even if we believe that the premises presented in this article are correct, the conclusion is FLAWED and is deliberately designed to MISLEAD investors.
The author conveniently left us believe that it’s probably wise to buy home NOW, and in the process, left us with the unwarranted belief that it’s probably even wiser to INVEST in Bangalore Real Estate.
This is MISLEADING and deliberately so. Why??
The only reason being, these data and the conclusion, are related to PRIMARY market. Or in simple words, it shows how many units BUILDERS were able to sell so far in the first quarter of the year.
What about INVESTORS? How many they were able to sell so far? What’s the state of SECONDARY / RE-SALE market? Should investors not be more concerned about secondary market than the primary market?
I have already explained in my earlier posts, how the factors that move PRIMARY market are starkly different from those that move secondary market. Please read my post here:
http://harshasagar.com/2012/09/09/prestige-misty-waters-location-price-review-public-opinion-more/comment-page-1/#comment-29531
No Real Estate “research” firm cares about Re-sale market. Ignoramus JOKERS at JLL India consider the units held by Investors as already sold out. Why should they care about SECONDARY market? No one pays them to write similar articles on secondary market? I CHALLENGE JLL India and the ilks to publish data on RE-Sale market and then dare to draw such counter-intuitive conclusions. People have ALREADY lost confidence in your reports. Any such euphoric conclusion on SECONDARY market may force you out of business as existing INVESTORs are swallowing bitter pills of their FAILED investments everyday.
Now, let me explain, why Secondary market data is more important than PRIMARY market data for INVESTORS.
From the article itself, out of 13,400 NEW units, only 8310 units were sold. Obviously, 5090 units remain in the primary market.
But what went largely unnoticed is this:
Did JLL India told us, how many of these 8310 units were bought by home buyers and how many were bought by investors? Assuming only 20% i.e 1662 units were bought by home-buyers, the remaining 6648 units are going to come back to SECONDAY market in the next 2-3 years time…!!!
Can you see the contrast and whose interest this article serves? With the secondary market bulging at such rapid rate, no wonder, JLL India still focuses it’s reports on PRIMARY markets and tries to lure in gullible investors.
Remember: The first crack in Real Estate bubble will appear in SECONDARY market, when disgruntled INVESTORS lose their patience, and start selling below inflated market rates. At that moment, a PANIC will ensue, and the market will collapse on its own weight. Primary market is backed by black money and banker’s money, so it will be in their own interest to keep it afloat as long as possible. Needless to say, such article indeed helps.
Over to Vinay …
assuming what you are saying in entirely correct and JLL etc are JOKERS as you mentioned… it also implies that all the investors are also JOKERS…. reason i say so is that people who are pumping so much money in a weak market should logically have better understanding, knowledge and awareness of the market than someone like you…. so why would they keep buying knowing that they are probably the only buyers in the market ( ignoring 20% of the true home buyers)??? what tells them that they can continue to sell when there are no real buyers in the first place??
@ss, I don’t know who is joker and who is wise.
Let’s assume, I made 10 idlys and could able to sell only 6. And the guy who bought 3 from me want to re-sale those and competes with me.
Tell me what will happen to my business and that guy’s business?
That’s my point too…its not practically possible n no investor would be foolish enough to keep doing that for yrs.
@BR lol that totally makes sense because houses are exactly like idlys. Let me still give sense to your insane insight.
What you forget is that there is no shortage of hungy (end users) in our city. Already there are 50 hungry people who want to buy idlys those 10 idlys for ‘eating’ but are waiting in illusion that if idlys wont sell they may get it at a lower rate. I’m not counting the 10 investors who will pounce once stability is back.
Fear will make them go without food for a while, but some want to secure their food. You have already broke even at six and will play the remaning people to give in all that they have in exchange of remaning idlys.
Even 50,000 unsold units is a very small number for a city like bangalore. There are lakhs of people who want to buy houses and can make it happen even at this rate. Just wait a little and people will scramble for the left overs.
I love idlies.
@Ashutosh,
Why are those lakhs of people waiting? What they are waiting for?
And when exactly these lakhs of people will buy?
In my commented on present scenario as given in article. And you are talking about future saying “Just wait a little”.
Give a time frame.
With your ” wait ” comment, let’s leave it to others who are in illusion.
I’m not saying, real estate will collapse and prices come down sharply.
There is some stability in prices.
Those lakhs of people are waiting for the prices to come within their budget which is not happening and that is the reason for the inventory to build up.
@Ashutosh
>>>>>Fear will make them go without food for a while, but some want to secure their food.
>>>>>>What you forget is that there is no shortage of hungy (end users) in our city.
Fundamental difference between idly and house is that, while idly can’t be RENTED to satiate one’s hunger, flats can be rented to fulfill the housing needs.
Now, if someone is unable to pay the rent, obviously don’t expect him to pay 10 times of RENT amount in EMIs.
Hi All,
I agree to Mr . Ashutoshs comments n analysis above…. I have seen many people around just waiting to pounce on house buying once price starts to fall down or atleast stabilises…. Prices of the homes going down is highly unlikely because of inflation and ever increasing construction costs, labour costs, and interests on debts etc…. So builders will hol on to their inventories as they cant sell cheaper than now prevailing rates. Only the prices will stabilize or marginally increase in Bangalore….but definitely not going to go down from the current prices….
So, all the people who are hungry and waiting will start buying their homes once they see the prices not going down. Also, the fear of rates going up again and the prices becoming more unaffordable than now bothers them. And the feelings of “Better buy now than waiting and regretting once the market bounces back and being left behind”, makes people start buying again and the market recovers and again starts to gain momentum…….
@ss, Investors are not JOKERS but they are GREEDY.
Well that’s probably your notion…there’s no harm in someone wanting to make money….end of the day we all do so…all I’m say that people are not foolish to keep pumping money in a weak market
You have probably failed to understand that real estate is the parking lots of all sorts of black money. So even if they do not make moneys its no harm for them as it is not their hard earned money.
Guess everyone knows that so there’s nothing to understand but you just mentioned that they are greedy and now ur saying they are not bothered about returns??
Dear Manjushree, I think you are right. The rate next year will fall to Rs 2500 per sq ft. Maybe year after that it will fall to Rs 1000 per sq ft.
I think you should still not buy and wait for 2018 when the greedy owners will in turn pay you Rs 1000 per sq ft to take ownership of their flat.
Your interpretation tells me that you are a very brainy guy.
I foresee a different kind of doom. When Karle comes up, their SEZ alone will employ 36000 employees. The employees in their township with retail etc are additional.
I can’t imagine what the peak hour traffic in ring road would be like once Karle is operational. Currently It already takes more than 30 mins to reach Manyata from Hennur during peak hours, having to make a U turn below Veerana Palya Flyover.
I believe the rents behind Manyata back gate and Thanisandra are going to increase substantially, as travel from ORR is going to become a nightmare.
The more I think about growing Bangalore traffic, more I like projects like Bhartiya City.
Anyone have idea that whether bhartiya city is increasing price in a week time?
yes, they are already planning for it. Within one or two days we should hear more about it
First statement in the article itself presenting the picture of current situation in real estate market.
Every quarter there is around 5k units of unsolw inventory pileup. That’s not less. That’s around 40% of new launches are unsold. In last one year itself around 18k units unsold.
Article stated that, current market is not seller driven market. There is scope for negotiations.
Don’t say that I’m vinay or manjisree with fake id.
I’m an end user, looking value for my hard earned money.
I feel, the price that is quoted now is not worth. the infrastructure is horrible. No water, no roads, no parks. I don’t understand why we have to pay 80 lac without this basic infrastructure.
BR, your are not alone… i believe all end users inlc me feel the same… frankly, Blore has got nothing worth the prices..my guess is only factor driving the prices is the employments and definitely there would be element of investor money…. fact is whether we like it or not… we can neither control or predict the market…..so you make a choice and decision on whether u want to buy or not… i have friends who have also decided not to not in blore for long and have decided to rather buy homes in their home town and just stay on rent in Blore for as long as they are working….
This article should open eyes of many, its based on data and not analytic..
http://articles.economictimes.indiatimes.com/2015-03-20/news/60322930_1_bengaluru-s-unsold-inventory-brigade-enterprises
There ara abou 1 lac flats unsold, article dated 20 May 2015. Builders and investors are expecting a family earning about 70k – 1lac per month to buy a matchbox size 2 bhk worth 70lacs….
Anyone with minimal brain would prefer to live in rent for 15k, may be little far from main area, than paying handsome 50 k emi… People are investing in their hometown which has better infrastructure than bangalore struggling for basic needs for water, roads and electricity….
http://www.business-standard.com/article/pf/how-about-investing-in-smaller-cities-114091400746_1.html
Any IT company for bhartiya IT park ?
Building is full fledged ready, BUT are there any takers ?
The builder is new compared to Mantri, Shobha, Purvankara, Providend subsidery of purvanakara, Kolte-Patil & many more in the near area, but the price of apartment is very much comparative with those..
Will this be an good investment ?
interested to sell 1.5 BHK flat in Bhartya city phase -I on 7th floor of tower 7 at price 4300/- Sq.ft. including transfer fee.
Alagar
9945503649
Hey I know its individual choice but curious to know why you are selling at so less price.
Fake! I tried calling multiple times, no answer.
Any one booked apartment in Bhartiya city Nikko Home Phase 2? How about booking amount.
I booked there and the booking amount already deducted from my account on 22/05/2015 morning 6.13 AM.
But today afternoon getting mail from them “The acknowledgement for the same shall be sent to you on realization of the Cheque/Wire Transfer.”, after two days on deduction of the booking amount from my account.
Please share your comments.
Hi.. I went to bhartiya city for phase 2. They are soon releasing other tower. They asked me PDC cheque and confirm me once they release floor plan and we confirm then only they are going to encaash from bank.
Are they releasing tower A?
Wow! So many comments. I don’t think Bhartiya City deserves this kind of interest.
Do you all realize that the planned city with mall and retail outlets etc will take years? There are so many flats getting ready in phase 1 where are so many people going to shop until then?
See the floor plans of phase 2. Its not livable for a family specially 2bhk and small 3bhk .
seems this project is just for investment and rental purpose for bachelors.
1 Entrance is dining . Who like this ?
2 Very small living area. no space for movement
3 Biggest 2bhk and small 3bhk has combined living dining and triangular kitchen with single platform/wall for kitchen work and storage. who would like to stay in such a bad plan. Only bachelor I think. its not good even for small family/couple.
I could not understand why in huge land they are building such a bad floor plan. Also C type of site plan will block sunlight and air for lower/middle floor.
China home prices fall 6.1% year-on-year in April
HONG KONG: China’s new home prices fell for the eighth consecutive month in April from a year earlier but were flat from March, adding to hopes that a property downturn which is weighing heavily on the economy is beginning to bottom out.
But analysts warned any recovery in the market will take some time given a huge inventory of unsold homes, and said the property sector remains the biggest risk to the world’s second-largest economy, which looks set for its worst year in 25 years.
That will keep pressure on policymakers to roll out more interest rate cuts and other stimulus measures later this year to boost activity.
source: http://timesofindia.indiatimes.com/business/international-business/China-home-prices-fall-6-1-year-on-year-in-April/articleshow/47325971.cms
Ya this true, and it may happen in india. I want to book 3bhk in phase. is there any group Booking? I want to book in discounted price. Pl contact
Hi arun, my friend is also looking for the same pls contact – 9611106132.
Why you need a group to book an apartment. You want to sink others along with you?
Planning to buy a house in Delhi-NCR? Prices likely to fall further
Are high prices in Delhi and NCR keeping you away from buying your dream home? You may be in for some good news, as prices are likely to decline in the next three to five months.
For the first time in the last three years, sales of residential properties across Delhi and the National Capital Region (NCR) have registered an over 50% drop in January-March 2015, which according to experts builds a strong case for a price decline.
In some pockets, prices fell 20% to 25% in 2014, and with sales showing no signs of improvement, developers are likely to slash prices by another 15% to 20% to clear up unsold inventory, experts said.
“Sales are down 50% during January-March 2015 against a year ago and new launches have reduced. This has led to a constant piling up of unsold inventory,” Ashutosh Limaye, head, research and real estate intelligence services, Jones Lang LaSalle India, told HT. “Unsold inventory in Delhi-NCR is at its peak of 170,000 units in January-March. Given such a trend, prices are set to fall by 15% to 20% in next three-five months.”
Of the total 145,000 unsold units in the NCR at the end of March 2015, Noida saw the maximum inventory pile-up of over 100,000 units, followed by Gurgaon (26,000 units), JLL said.
Echoing similar sentiment, realty research firm PropEquity CEO Samir Jasuja said, “sales of residential units in NCR have dropped 78% from 26,110 units in January-March 2013 to just 5,729 in the same quarter of 2015. This is primarily due to a demand and supply mismatch, and investors moving away from the sector.”
The constant drop in sales has made it a buyers market against an investors market, he added.
Prices in the sector fell 20% to 25% across NCR in 2014, and the trend will continue if sales do not pick up in the remaining quarters of 2015, according to PropEquity.
A buyers’ market refers to one where an end user invests for his/her personal use, and does not put it out on rent or trades in it. An investors’ market is one where a person buys a property and either sells it at a premium even before delivery, or puts it on rent.
India is not China. In China the growth over the next few years is expected to come down while in India the growth is expected to increase.
Also note that prices in Beijing and Shanghai increased. Same is going to be the case with Bangalore. With steady influx of professionals, increasing salaries, dual income couples, tax breaks, increasing rents and decreasing interest rates (EMI’s).
This report by HDFC conveys the Indian context:
http://www.moneycontrol.com/news/business/home-prices-hit-roofaffordability-near-its-best-hdfc_1386590.html
HDFC finds India’s real estate to be affordable. Here’s why it is wrong
The home loan lender HDFC in its latest investor presentation says that homes have seen an “improved affordability”. This goes against everything that one sees in the real estate sector these days, where prices have gone so high that most people wanting to buy a home to live in, can’t.
So how did HDFC manage to come to such a conclusion? Allow me to explain.
Read further at:
http://www.firstpost.com/business/hdfc-finds-indias-real-estate-affordable-heres-wrong-2252286.html
When US housing market was going bust, Chinese also thought that China is not US and the real estate bubble can never burst in China because of the huge population. But after 5 years you can see a cool down in the real estate market in China, which is the world’s most populous nation. Dear friend, it is exactly due to this kind of thinking (what you wrote above) that bubbles are created. If everyone is cautious then where is the chance of a bubble getting created. Bubble gets created when people throw caution to the wind and despite all pointers pointing to a bleak outlook people are still bullish. This is what creates a bubble.
Rakesh – Those who follow what you say now will live like these chinese who did not buy house in china back then because of bubble in US market:
http://www.ibtimes.com/chinas-housing-market-bubble-home-ownership-elusive-young-buyers-renters-1808472
When their economy grew for last five years, the house price kept on increasing. From the time of US bubble till now prices have grown so much that buyers then will be in tidy profit even after correction. But those who are left out pay half their salaries rents and still cant buy.
The current sentiment in India will turn around in few quarter as economy picks up and prices will go north. If in five years the housing price doubles, will you be able to afford a house in Bhartiya City? Even after it corrects 10 percentage then?
Sid
One thing you are completely missing is rent ratio (Rent as %age of price), It is extremely low in India. If you do a pure mathematical analysis based on time value of money, you will realize that renting will turn out of be much cheaper option even after considering crazy year or year inflation
I did similar analysis and was stunned to find out corpus that i can build if i invest down payment and monthly EMI amount into other investment options. I am not even talking share market – Even a balanced investment of Shares, Mutual funds and bonds generating about 10% rate of interest. I was stunned to find that i can build corpus of roughly 8 crore in 20 years if i do not buy 1 crore today. This is even after assuming crazy rent increase of 8% every year. I really doubt if 1 crore house today apartment will ever become 8 crore.. usually apartment value becomes stagant when building becomes 10 years old and then it starts coming down slightly
So net net.. Financially it makes no sense to buy a house in India. But i still went ahead and bought a house (Purely for emotional reasons).
I have been in a rent apartments/houses right from my childhood. Since the rental business which is part of the real estate is also not regulated, i have seen owners treating their tenants badly.Rental agreement is not honoured and increases the rent to market rate every 11 months, they will suddenly ask the tenant to vacate saying their relative is returning and want the house for them…and you also end up living detached with the community thinking that its not your place… I am sure real estate in india will evolve and these so called builders will enter the residential rental business once the market stabilizes and there will be lot of discipline…then we can consider renting out than buying a home as renting out is always a wise thing to do.
>>>>>>The current sentiment in India will turn around in few quarter as economy picks up and prices will go north
These few quarter I hear for the last few years. When these few quarter will come no one knows. People predicted that a stable BJP govt in the center will raise hope in the realty sector but it has been otherwise. Realty sector is in a big mess not because of supply – demand mismatch, its because of affordability. There is enough demand in the market if the prices are affordable. A fresher is earning almost the same money as a fresher some 10 years back whereas expenses has gone up.
Lets say a person is interested in a house worth Rs 50 Lakhs today and has only Rs 15 lakhs. He feels there it is costly today and doesn’t take a loan for Rs 35 Lakhs.
Fast forward to the year 2020, thousands of families are living in Bhartiya city. These families and the under construction malls are eagerly awaiting each other. BCIT also is functional.
Now even if Bhartiya city grows only to Rs 1 crore. Where will this persons 15 lakhs be? Lets say he doubled it. He also saved another 20 lakhs in 5 years. What will be the loan he will have to take in the year 2020 to buy the same home?
Your analysis is very lame. Big problem is you are looking at only 5 years.. Looks at atleast 15-20 years perspective when doing financial return calculation. Only in 15-20 years horizon power of compouding will be truly unleashed
Unfortunately in India, we are not taught anything about Financial education. I will do this simple analysis for you using your own example
Scenario 1 – In 2015, Mr X buys 50 Lakh house, pays 15 L from pocket and takes loan of 35 L (Let us assume he pays EMI of 35 K /Month). Let us assume loan starts 1st Jan 2015.
BY 1st Jan 2035, Mr X would have paid – 15L (Downpayment) + 80 L EMIs = 95 L. So Let us say house has become impressive 3.5 crore now. So he is owner of 3.5 crore house while he has only paid 55L for it. Sounds lucrative right?? Now wait for scenario 2
Scenario 2 – Mr. X decided not to buy house.. he invests 15L into alternate option generating a average return of 10-12% (It is extremely conservative, considering long horizon you can invest more in shares and get 15% or up easily). Anyway let us assume, he keep putting 35K into this investment generating 12% return.
By 1st Jan 2035, His corpus would be close to ~5 Crore. I know i have not accounted for ever increasing rent. But even if you add rent for 20 Years with 8% increment every year.. It will be maximum 1 crore.. Still 4 crore can be generated.
Don’t even ask what will happen beyond 2035.. apartment price will stay still or come down.. Corpus will just shoot up like a rocket with each passing year. Infact i have been very conserative with this analysis.. apartments will stop appreciating even before they become 15 years old
Dear Inder – Sweet dreams. Ask anyone you know who has seen real estate market for 20 years. Ask some one who has seen it, what was the price in Koramagala was 20 years back. Ask someone in Indira nagar the price 20 years back. Ask someone in Kamanahalli price 20 years back.
Most of my relatives in Bangalore, who had invested Rs 2 lakh in 90s and have now sit on property worth over 1 cr. That is more than 50 times returns!
Instead of using your ‘lame’ analysis. Why don’t you find it for real and post it here.
2 lac investment in 90s might be either on land or independent house.
Had they invested that 2 lac on an apartment in 90s, tell me what can be the present value of that apartment.
Definitely not 50 times.
My assumption is, they may get enough money to buy similar apartment somewhere outskirts.
I agree that it gave better returns than FD. But the question is are we in same growth rate. Can we assume growth rate of past two decades is going to be there for next two decades.
Hey BR
Can we assume the same returns of last two decades for any of the investments?
In developed countries the interest rates are about 2%. Are you sure your FD will continue to give the same 8+% returns for next 20 years?
Can we assume that gold which has risen handsomely will continue to appreciate the same way?
With FD you get a certificate and with Demat stock you just see entries on your screen which may or maynot beat inflation. But with a flat, even if it doesn’t beat inflation you have something real in which you can live, and with Bhartiya City you will have all your needs addressed within.
Buy land, residential, agricultural, farm,..
Otherwise put it in mutual funds or encourage entrepreneurs. It could be your friend looking for investors for his idea. Anything which is productive.
Please, discourage this unproductive real estate investment.
Go for value homes or Stay rented in the apartment that you like.
Actually BC isn’t over priced. I still consider their 2BHKs as value homes. But investors are trying to push the price. That isn’t good for economy or end user.
It only helps middle men / brokers or so called investors.
Take your example. Any one buying now at Koramagala ? Some one had said :
30yr olds buy 30lakh rupee home/apartment -30km from city-spend 30yrs repaying loan-by when they are 60 and will it to the children.
Lets say after 20 Yrs BC is hot and u sold it with in the price what you are looking for, then what? Will you buy another flat again 30 KM away from city to stay?
Ask your relatives are they selling their property? Everything looks good on paper and math but in reality it does not happen.
If you are pure investor math looks good and at at the end you will create asset and which can make extra income but for middle class it is tough.
If anyone buying independent house it make sense but for an apartment we should not argue. All middle class buys apartment to stay and pays EMI for 20-30 Years. Middle class thinks it is necessary to have a home and thinks it is difficult to get an independent home at blore with land. Thats why they go for flat.
@Inder : Your calculation are not correct.
I am assuming no taxation involved to make calculation looks simpler.
For scenario 1 when 15 L (Downpayment) + 80 Lakhs (EMI) shelled out from customers pocket to Earn 3.5 Crores so net profit came 3.5 – .95 = 2.45 cr
For scenario 2 where customer pays 35K per month till 20 years so paid around 35K * 12* 20 = .84 Cr to get return of 34415763 (Maturity Amount) = (840000 (Principal)+ 26015763 (Interest Amount) ) or 3.4 CR which is way lower than what your are telling 5 CR (possible only at 16% returns)
5 Crores so net profit came 3.4 CR – .84 cr(premium amount) – 1 cr (rent) = 1.56 cr so its lessetr by 1 CR profit by scenario 1.
First of all for scenario 2, 12% returns is too high, no investment gives you this much return either FD (8.75 with TDS) or Life Insurance (7-8% )or PPF (8% without TDS) unless you are investing directly into stock markets with luck in your side that market will go north handsomely in next twenty years
What a heuristic…
Point you don’t understand is –
1) Apts are made and designed as per need and demand not with the assumption of x to 2x in y years. If the demand is in 2020 of flats with 50 lacs, it will be supplied by some tricks. For example u get no 1200 sqft house with 3bhk, couple of years back it was not even 2 bhk coming.
2) Bangalore has enough space to broaden so you can assume of any new city equivalent to bhartiya city. So dont presume that BC is the end of real estate.
3) I bet if they even start the construction of mall by 2020. Until whole area is filled they will not start constructing it. My idea is 2022, until then BC-1 will look old and fresh apt would be in picture.
So pls dont misguide ppl with mall and all, live in reality than realty.
Is it true that all pre-launch 2 BHK’s in Nikoo 2 have been sold out?
I dont think so…All marketing tricks to make customer insecure.
Or 2 bhks are in affordable range than 3 bhks…that may be the reason they are hiding.
Anyways that close C plan is pathetic and would be suffocating with hardly possibility of air circulation. Dont worry even if it is sold 😉 ….
Hi,
I am selling my 1 BHK 760 sq ft in Nikoo home Phase 1, Tower 9, Floor no 17
No Floor rise charges, No PLC.
Car parking charges & some other charges are less compared to Nikoo Home Phase 2.
Currently they are constructing 21st floor, completed 18th floor in April 15
Expected possession by May/June of 2016, within 1 year.
Interested buyers can reach me on webmail.raju@gmail.com
Hi,
I am selling my 1 BHK 760 sq ft in Nikoo home Phase 1, Tower 9, interested buyers can reach me on webmail.raju@gmail.com
Looking for a penthouse /loft, 1. 5 bhi and 2bhk. In phase one. Interested email me at Shunyom@gmail.com
I am interested in 2bhk/3bhk apartment in BC, not the pre launch is going to start from Monday but in earlier phase.
Reasonable price, i can close the deal quickly.
I understand the pre-launch price for new phase is Rs. 4530/- looking better rate from re-sale.
How about 4500 rate for resale but delivery date of 2019 wherein seller gets to stay or earn rent till phase 2 is ready????
Hi. I have 1 / 1.2 / 2 / 3 bhk options in phase 2- price 4520/- call on 9611686565
Hi,
Biggest concern for phase 2 is the completion time. Heard that there is no tax rebate if project completion is more than 3 financial years. Any comments ?
https://www.myloancare.in/tax-benefit-on-home-loan/
-Sandeep
Looks like this will be the biggest concern for buyers who take home loan. Its hard earned money and upon that no tax rebate.. Will just stay away..
Hi
Even I have the same concern, but in case you plan to rent it out this three year clause is not valid. Please refer to the link below.
https://disqus.com/home/discussion/nitinbhatia/home_loan_tax_benefit_deductions/#comment-2034079261
Some points to note on difference between resale phase 1 and phase 2 price
1) There are additional PLC charges (starting Rs 100) which do not apply to phase 1
2) The price of phase 2 for most apartments will cross 50 Lakhs based on the size and floor which will attract 1% TDS.
Besides the min Rs 150 per Sq Ft saving, a possession two years earlier means a benefit of rent saved / rent earned.
I would like to upgrade to a 3BHK and am planning to sell my 2BHK in Bhartiya City. Its on Tower 9, possession is expected by July 2016. If interested please call me on +91 9880-603-057.
This is an innovative selling reason. Which 3bhk unit are you buying
Not sure if ppl are eager to buy this time. They quoted record sales last time in short time..
I should have specified this earlier. The price expected is Rs 5000 per Sq Ft. This covers the floor rise charges of Rs 150 and transfer fee of Rs 100.
Please stop low ball offers of phase 2 price. I already have offer of Rs 4800, I’m not interested in your logic of why my price should be lower.
4800.. Playing marketing gimmick?
I am almost sure that you have no buyers for that price…
Why bother or care if ur so sure….buy at whatever price u can get….no one needs to prove anything
I just got two buyers call me today morning who are willing to pay Rs 5000. My broker tells me to wait as Bhartiya City themselves are going to increase the phase 2 price by Rs 200 after the prelaunch. This will continue after sale of every 200 apartments.
Much better prices can be expected in 2-3 months time. So I’m deciding to hold.
Have a 2 bhk of 1098 sqft for sale in phase 1, Tower 7, 9th floor. Interested parties my email me on samirsait@outlook.com or call me on 9845051935.
Hi Sam can u mail me the details am interested
Hi,
Selling my 2 bhk of 1098 sqft in phase 1, tower 7, 9th floor. Interested parties call email be on samirsait@gmail.com or call me on 9845051935
Please hold. Its your apartment, your money and your time.
@R
I hope both of them are checking other sources as well. Because, most of the http://www.commonfloor.com/ listings are at around INR 4500/-. Now, why would anyone pay more?
And brokers, well ….they almost always try to execute the deal sooner than later, so that they can get away with their commissions; they care 2 hoots for your extra gains, if any, by holding.
INR 4500 this is the price at which BC is per-launching phase 2. Why pay more, when you are an investor?
What you don’t realize is phase 2 completion is after 3 years and work has not started, phase 1 has already completed 20 floors of 25. Also Phase 2 has other charges which are more than Phase 1. And finally the phase 2 pre launch are sold out.
@Sandeep
What you didn’t realize is that your comments are self contradictory.
While you tried to justify Phase1 value propositions, the fact that Phase2 is already sold out answers the question I asked in my post above:
Why pay more, when you are an investor?
INVESTORS understood that it’s not worth paying more for Phase-I, rather pay in small installments in the next 3-5 years.
For Phase-2, investors will pay fractional price now and sell it off before completion. This is how people make money in real estate. But the catch is in SELLING part. One must be able to SELL.
Investing in already completed or near completion project is FOOLISH. That’s why existing investors in phase-I must find a home-buyer rather than another investor. And when it comes to home-buyers, affordability is a big question, a factor that is pulling RE market down currently. To reiterate what I have been saying for long:
Real Estate prices depend on the affordability of the masses, and not on SPECULATIONS.
Investors BEWARE.
those listings are either old or not of much user…. STOP misguiding people using your theories without actually buying or selling an apartment…i have contacted all of them over past month or so and not even one person is offering 4500… secondly its common sense that phase 2 is at least 3-4 yrs away from delivery whereas phase 1 is on track for delivery next yr and hence price comparison is irrelevant….. other fact to bear in mind is that BC seems to one of the few builder delivering on what they committed n timelines which is a sort of rarity today and explains which they are still in demand when the market is weak
The Real Estate is going through a bubble now. The builders/developers are not able to sell for huge prices, too much supply than demand. There is a huge demand for 2.5 bhk in 70lacs range but no supply. Any tom, dick and harry is charging close to 1cr for a 3bhk. 2 bhk ppl are not willing to spend 70lacs as after 2-3 years if they try to sell still it would be 70 lacs only.
BC is not yet started its commercial and official space construction. And will start once they hand over the possession. So it is at least 5-6 years down the line from current. Now if the bubble will burst or continue will be decided only by time.
There will be panic created to resale market once builder start offering discount or some great scheme.
I dont feel BC is worth more than 4k per sqft. It would be foolishness to pay more than that. The maintenance will also be quite huge.
@SKS
>>>>>> i have contacted all of them over past month or so and not even one person is offering 4500
Are you sure: it’s ALL? What’s the average selling price you figured out? Can you enlighten us?
Please bear in mind that INVESTORS prefer pre-launch properties to completed or near completion ones. Obviously, pre-launches are getting heightened attention.
It makes sense, because the appreciation is highest between pre-launch and completion. One needs to shell out only fractional amount during this phase, while the property appreciates on FULL amount. It’s more like stock market derivative play, except that there is no expiry date and it’s highly illiquid.
I mentioned what I exprienced when I tried to buy in resale..dont see the need to give explanations to someone I dont know….since u claim to know it all why dont u call urself and find deals under 4500 and help buyers on this forum?
Its one thing to shoot from behind but entirely different to get something actually done
So you have already assumed that the builder will deliver in time even though it is still more than a year to complete. You looks like a newbie in real estate and has no knowledge about builders timeline.
Just a few months back even owners of Prestige Tranquility were thinking that everything is going in time and they will get the delivery of their flats even before the deadline and now when the deadline is nearing, the builder has already postponed the delivery date by 1 year or so.
Just wait for the deadline to complete and then the real story will unfold.
I said its on track and yes there could be delay..just that they have been better than the rest till now….theres no guarantee for anything which any sane person knows n one need mot be real estate expert
@R
well tried Mr Capital “R”
5000/- and you have refused the offer! LOL
Dear Capital “RR”. You clearly are not the owner of any apartment in Bhartiya City, else you wont object on price. Yet you visit these specific comments and take time out to comment also. Wow!
Hmm wonder why – oh coz you want to buy? And your limited intelligence tells you that such comments might bring down the rate? ha ha.
Well son, watch the price increase every few months and lets talk after one year!
@Baap (not sure whose?)
Bhartiya City was selling for Rs 3970 in 2012. Now, it’s 4500. Just Rs 530 gain in 3 years?
At 8% interest, compounded quarterly, Rs 3970 put in FD will bring Rs.1064.92 in interest income. If you deduct 30% on tax, you still make Rs 745, more than Bhartiya City’s gain of Rs 530.
Do your math before you speak on public forum.
Lets help you do math!
First of all: BC launch price was 3870 (not 3970).
BC Phase II pre launch price is: 4530 (with min Rs. 100 PLC with any apartment).
so, 4530+100 = 4630 – 3870 = 760 per sqft.
also, the 3 years are not completed yet for the Phase 1 launch. it was launched 25th Oct 2012. still 5 months away from completing 3 years.
also, you are comparing phase 1 launch price with phase 2 launch price!! while phase 1 construction is already progressed whereas phase 2 construction will start in next 2-3 months.
You are comparing 2 dissimilar amounts.
Of that 3970 how much has been paid by customer till now? around half, that too in stages…
so the gain calculated by you should be double.
You are considering the amount as investment which you have not even paid, while for FD you calculated interest on full amt.
Do the maths correctly.
@Saurabh
>>>>>>>>Of that 3970 how much has been paid by customer till now? around half, that too in stages…
This is the precise reason, I restricted my calculations to PER SQ. FT. and not on the Total cost of the apartment.
In other words, for each of the sq. ft. you paid for (even if it constitutes 50% of the total area), you end up losing Rs.1064.92 per sq. ft. per annum.
Is it so difficult to understand that:
even if you have paid half of the TOTAL cost of apartment, your formula for LOSS remains same PER SQ. FT ?
@Manjushree
Calculate the amt. you have paid till now and calculate the amt. you will get if you sell the apt. at 4530 (phase 2 rate) and you will come to know where you are miss calculating.
It’s very easy to understand.
Some people are weak in mathematics. They may not even understand what percentage means. They see some profit in lakhs and they feel they are smart. But it is because of these people economy grows. Without fools real estate economy would not have grown which is providing jobs for lakhs of poor. So fools can be building blocks of economy as well.
@Saurabh
Sorry, I could not reply earlier. Your post somehow slipped through the cracks.
My post above is INCOMPLETE.
I have intentionally left out the cost of borrowing (INTEREST part of EMI) from the overall calculations.
Wait for my next post, when we look at it in detail and discover how this calculation slides further down when we compare FD v/s Real Estate investment.
Hahaha cant stop my smile on your frustrations apart from thinking that people like you will be living in BC! … what is this B….C…!
Once i saw a movie which had a dialog ” Lagta hai thakur sahab maine aap ki dukhti rag par haat rakh diya”
LOL… u seems to me that Thakur without hand LOL
Your comment shows your frustration completely my son’s son!
I think you are the same big R and commented with changed name!
cheers! 😉
with all due respect to all lets dont blame each other. If any one ant to buy or sell their property let them do. If price is higher you think step away and let the seller find the buyers.
In my opinion
1. If you are 1st time buyer and would like to buy a home for your own leaving for next 5-10 yrs then it should be OK for you buy any property within your budget. If you are looking to become crorepati in a year or two by selling flat then stay away from real-estate.
2. If you are pure investor and want to rent or want to sell then you should look for good rate / location/ builder. When i am saying investor you should be capable enough to use your own funds with out bank loan. Only then you can make profit when you want to exit. If you are involving bank and loan then i dont think profit will be more with all the interest what you paid.
For safety you should involve bank to verify property and you should pay the disburse amount on day one to bank.
3. Every one will say blore is end user market and price appreciation will be more. Blore is not like mumbai. Blore only exists for IT and IT office can shift to other place or ask to do work from home in future. In this case getting profit from selling flat will be difficult because there is plenty of options will be available for buyers.
4. If you want to book real profit invest in shares or land. If you want to buy a flat for your own use or 2nd income as rent for your future then you should go ahead as buy within your budget. for 2BHK 40-70 lakhs should be decent. Dont pay crore to have a 2BHK. It does not worth it.
Great… First time hearing someone ready to pay without negotiations in India. Best of luck and I wish your investment gets doubled with time.
I don’t mind paying that price. Post phone number of genuine sellers who are willing to sell 2 BHK in phase 1 below that price and I will settle the transaction immediately.
Brokers please excuse.
It is good to sell at the market price if you get any buyer. If you greed for more, you will not find any buyer. Some time greed makes a person blind.
@R, there are many in this forum who will be more than happy to sell at lesser than 5000/-, so if u can share the buyers details, many can give you a nice treat as well 😉
Mr SELL
Please watch your words when you are commenting at someones posts, its left to individuals on what price they want to sell .People like you only comment and try to be a spoilsport.
I have also met people like who bargain for long and when i agreed to his price and asked him how soon he can close the deal, he just vanished.
Brother..thats how the market is….
Buying is always an easy job, selling is tricky… Remember market rule “Decide a profit and exit, price will keep on varying and would go up”
Genuine buyers are also hard core bargainers and have plenty options…. 🙂
no buyers..i am waiting to sell my property in chennai for the last 2 years..its very very very dry..there are actually no sales happening..unless government buys the property there cannot be any growth in this sector..
“no buyers”??? well that’s an exaggerated verdict.
Real estate market is slow these days, but it has not stopped. Transactions are less but taking place regularly.
If seller’s expectations are way above market price, he may have to wait for 10 years and still not be able to sell.
In fact, govt is already planning to buy all the flats held by investors to give a push for the economy. Govt is planning to buy at 10% more than the market price. I am planning to sell my own flat to govt and then stay on rent as I am not able to afford the emi.
I want to sell my1.5BHK flat at 7the floor 933 Sq.ft. Please call me if some interested.
Contact Number: 9945503649. Due to family problem I am in critical situation to sell it .
Hi, Any idea if BCIT is picked up by any companies? I spoke to the sales person from whom I did my flat transaction and many times the only answer I get is “there are many interested companies and we are sorting out suitable ones to take up BCIT”. If you have any latest updates, pls share.
Hi I want to sell 1 bhk, 781 sft on 15th floor. I bought it for 4120 per sft and a total price of 39 lakhs. Not interested in any profit other than a lakh. Rest transfer charges to be borne by buyer. Anybody interested send an SMS to 8861344005.
Call me on 9880044770 i am interested to buy.
Hi I have 1.5 bhk 934 sft in tower 9, 3rd floor, if interested call me on 9611686565.
I am interested in selling my 1.5 BHK(934 Sq ft). Genuine buyers please call @9663376706
amar – there are no genuine buyer..unless you quote a price which is less than 20 % than the pre-launch price..there can be takers..this type of profit making is no more possible in this sector..
with regulation coming in place soon..this sectors survival is going to be very difficult. if the builder cheats then criminal proceedings can be filed and you know how many yrs it is going to take in india..
Sorry, I desperately want to buy so making such statements and trying my luck.
That’s so lame…if u want to buy talk to people and offer a reasonable price instead of making comments like some other people on this forum …..
reasonable price differs from persons to persons. It is his reasonable price that he is offering. Reasonable prices does not mean you have to offer in crores.
Friends..pls look at all the property websites for the available ready to move in inventory..before you offer a price..investors are only trying to exit..but could not..
if you can take a 5 to 10 % loss then u shld still go ahead and sell..prices will come down once real estate regulator comes in place..
Why prices will come down when real estate regulator (RER) comes in place ??
With RER there will be:
1. More regulation for builder hence there cost will go up.
2. Low risk factor for buyer, hence theoretically higher cost (low risk things are costlier than high risk things)
3. Low risk means more buyers, that means more demand.
4. Future projects will take time to get permissions, hence supply will reduce.
There is no logic how cost will come down with RER.
P.S.: I am not saying that cost will go up after RER.
@saurabh – Assuming that you are in 30s (age)..just rewind back 10 years ago the cost to call anyone in other state ..the cell providers used to charge per min 15 rs…have u experienced this earlier if not pls ask your friends..
Now look at the price of the call charges..this pricing came only after there was a telecom regulatory in place..so the price of the apartment will come by 30-40 % ..bcoz of transparency..Will you buy an apartment for 1 CR? If you are then let me know..i will get you a home in AMERICA..or London..Atleat you will have good roads..
@Kamal, Technology and Rea Estate is not comparable.
Price of Telecom came down due to reduced technology cost and explosive growth in user base.
If you compare Technology price with real estate price, 10 yrs back, feature phones use to cost 5000/- the same phones now cost 1000/-
With that logic the fats which cost 10L should cost 2L now. (considering there is no regulator for handsets and real estate).
I have already mentioned all the reasons for which i believe RER will not make property prices go down. Can you counter those.
And I also mentioned that I am expecting the prices to go up.
*And I also mentioned that I am not expecting the prices to go up.
I think we all really wish that happens but dont think comparison with telecom is appropriate in anyway. The basic elements of these two businesses are very different with different drivers
Kamal – So as per your convoluted logic when Securities and Exchange Board of India (SEBI) was created to regulate the stock market, from then on stock prices of all companies kept on falling every year?
People living in fools paradise today will be the have not’s of tomorrow.
look at what ur saying.. who spoke about crores? not sure whats ur intent here but all i said was talk to people and offer a reasonable price.. i never told him what a reasonable price was… if he thinks 20% below pre launch is reasonable then so be it but he shouldn’t at least say that he is saying so out of desperation n apologize for it… no body is stopping you from offering him 20 % or lower price if u have an apartment…grow up !
Hi Ram
Call me i have very attractive deal for you.
9845014561
Call me I have option for you phase 2
Everyone is now quoting premium, I wish I had booked when prices were lower 🙁
Hi People,
I am looking for a 3.5 bhk 1917 sq ft apt in Bhartiya city. Please contact me on 9845901834.
I am interested in 2/2.5 BHK apartment at Bhartiya city. Please contact me on 9880418103 if interested in selling.
Hello,
We own 3bhk in 24th floor. Planning to swap for lower floor within 10 floors.
Interested please reply.
Hi,
Would you be interested in selling?, there are no 2 / 3 bhk’s available.
BR,
Rony
Hi,
Would you be interested in below 15th floor, let me know.
Br,
Rony
Rony,
Please send me contact details or an email ID.
hi,
Sorry for the late reply…Kindly email me at philiprony75@gmail.com. or call me at 9972072111.
Best Regards,
Rony
Hi,
Looking forward for your call/ email.
regards,
Rony
Hi… didn’t get any call or email from you. Are you still interested for exchange, if not just inform.Thanks.
Hi SN,
Are you willing to sell your apt of 24th floor? I am looking to buy 3 bhk or 2 bhk in BC.
@ All – If anyone is selling their apartment in BC please send reach out to me. I am interested to buy 2 or 3bhk in this project.
ajitrjha@gmail.com
9900032765
Thanks.
Hello RJ,
I am not selling the apartment. I am looking for SWAP option of my 3bhk to lower floors 3bhk only (preferably with 10 floors).
Thanks,
SN
SN I’m interested in your offer..please tell me how to contact u
Any news on Leela Residences project take off. I heard that it will be much better than Prestige Leela Residences as Bhartiya City people claim that they will teach and show Bangalore builders how to build. Looks like there is a lot to learn from these Delhi Builders.
Hi Siddarth,
Yes Leela residence is opened for sale, but only large size one, smaller one sold out,
Prestige Leela residence is an apartment designed with the theme of Leela hotel.
Bhartiya Leela residence is a large development with the Leela hotel attached to it, and it is joint development/ maintenance of Leela & Bhartiya, wherein bhartiya & Leela will maintain the project with its current theme and management. this is what they say and claim.
Lets wait and watch what gyan can we get from them.
Hi, is there any barication inside between nikoo homes and leela bcoz there is huge difference b/n price and aminities
Hi,
I have a highly demanded 2.5 BHK DUPLEX Apartment at Bhartiya City Phase – I in Tower 9 at 11th Floor of 27th Floor. If anyone is interested please feel free to call me at 9902766644 or email me at tkmandal@yahoo.com. BC have completed 15th floor of Tower 9. There are no flats available with Bhartiya City from Phase – I. The progress of construction is in rapid pace and expected to be completed the Tower 9 by mid of 2016. Once Leela Palace and its service apartments get ready (just opposite to the apartment) the value of this apartment is expected to touch 1.3 Cr.
If you are expecting the price to touch 1.3 crore by mid 2016 then why are you selling your apartment now ? Better wait another year and sell 🙂
Thanks Rajesh. I have booked BC for my family living only and would have love to hold. However, its purely personal reason am disposing off.
@TAPAS..Every investor says the same..Can u sell it at the price that you bought..with 10 % less price ?
buddy..there are no buyers in the market..before waiting for the market to crash..better you sell for 10-15 % less and exit..investors should learn to loose as well.
Same with builders also.WHy they sell quite quickly .Let it appreciate for next 5 years and sell it for 5 crores.
I am having 1.5 BHK in Tower 9 in Nikko Homes. If any one interested may call 8986871967 or email at dhananjaysail@yahoo.co.in
whats the price you are looking at Dhananjay?
The price will be approx Rs. 5000/- PSq Feet of BSP If any body is interested may contact 08986871967 or mail at dhananjaysail@yahoo.co.in
5k rate is impossible at this point of time. BC is coming up with 4.5k/ sqft for their next phase (phase 2) then why people would buy at 5k in resale??
Resale price is always be far lower then the rate which builder is coating. Any resale inventory can be sold around 3k – 4k depending on buyer and seller need, but it cannot be more than 4k at any cost for BC at this time.
Additionally…lot of BC units are available on resale in the market but no genuine buyer they are getting…no response just because the gap between seller’s asking price and market rate….buyer always would go with market demand but seller always comes up with perception based rate. Unit cannot be sold on perception based rate because perception based rate is unrealistic rate which never matches with realistic market price.
By saying this, market is also not supporting real estate market at this point…market is going so slow…no much demand because gap between demand and supply is getting bigger and bigger day by day in Bangalore real estate market. So investor or genuine seller must be very specific in their asking price if they really need to get out of the project….
Analysis is not specific to BC is it applicable holistically for the Bangalore market….a normal understanding people also can understand this by viewing tons of offers offered by different builders…they are holistically offering 15:85, 20:80, 25:75 because builders are unable to bare the loss by keeping units with themselves..they are keen to sale at any cost else they would have to bare hues losses.
Why you are so worried RJ?
looks like ur gonna decide everything for everyone… stop shooting from ur hip..
the price might not be 5k but in the same way who are you to say that it should be 3-4k? let me know if u can get me at this price.. will be happy to buy…
what?? 3k – 4k for bhartiya city? the prelaunch price was 3870 psft, 2.6 years back.
get real buddy.
btw: would you sell ur unit at 3K? what about 3.5K? please let me know and we can seal the deal.
Try selling for more than Rs 4,000/- and you will realize the market value.
Dear Friend please don’t respond to those messages ( RJ so on), it has no head nor tail, they get free internet connection uni tier office so they type whatever comes to it, no investment so no ……… Why should we waste our precious time.
3K-4K??? let know who is selling at that price?? there are many ready to buy at that price…
Impossible…. When now ready to move in flats of reputed builders are available for 1, 1.1 cr big size 3 bhk in resale market. This appreciation is highly unexpected.
I can maximum think of 70 lacs all inclusive in current market from genuine buyer. I guess its 1265 sqft. See the link below…
http://www.thehindu.com/news/cities/bangalore/buildings-boom-but-no-buyers/article6354362.ece
LOL @ highly demanded ! by who? desperate much dude ?
@Tapas
“Highly demanded” and “1.3Cr for a 2.5 BHK “ made the day for everyone on this forum. Thanks.
pls get out of our dreams and come to realty… no doubt BC is a great project but fact is 2.5BHK duplex is not really a good design and is located in inner part of the building so wouldn’t get much light etc….secondly.. u probably are the only person to even think of a price of 1.3 crores and making fool out of urself by writing what ur writing…there are quite a few people who have 2.5BHK that are willing to sell but the pricing hasnt been much higher than 5 – 5.2k at this time… however if ur so sure, please get me customers for 90 lacs today ( over 40% lower than what ur saying it would be 1 yr from now) and i will sell my flat right now…..
Hi Tapas,
Let people think what they want to think. I myself have booked a flat in BC and would recommend you to hold as long as it is possible for you. And if possible hold it for ever :).
From long term perspective, it will surely give good returns.Interest rates are coming down, banks will soon start reflecting the new rates and the trend for next few years is decrease in interest rates. With office spaces like Karle coming up in the area, Manyata still expanding and Bhartiya city’s own BCIT, and traffic problems that get worse will propel demand for rented place or purchase near work.
I work in Manyata and most of my colleagues in below 35 age group do not have a home, all are looking forward to buy one in next few years. With some soon going to marry and earn double income, home is the first thing on their mind. With money in bank giving less interest going forward and loan EMI’s coming down along with tax benefit, I expect a change in sentiments in just about time when Bhartiya City is ready.
Not to mention all the development that’s going to happen within Bhartiya city and around the area. When I came to bangalore in 2004, my friends from bangalore used to say Koramangala was outskirts in 1994. In 2004 for me Hebbal was outskirts. Positive and negative cycles will come and go,10 years from now, anybody who sells bhartiya city will only regret their decision.
The consumer sentiment seems to be turning against the real estate investments. Recently a buyer sentiment survey was carried out by IIM Bangalore and Magicbricks. A report on the survey in The Economic Times said that: “[The survey] forecasts that the home buyers expect real estate prices to drop over the next six months. In fact, the aggregate Housing Sentiment Index (HSI), measured across the 10 cities, dropped sharply by 29% in the 3rd quarter of 2014-15 to 81. (An HSI score of 100 suggests the prices would remain static).”
@Raj
>>>> 10 years from now, anybody who sells bhartiya city will only regret their decision.
If prices double in 10 years, that’s a LOSS. Your money would have more than doubled if put in FD, without taking any risk. Moreover, if you account for borrowing cost (interest part of the EMI), you would have at least paid 80% of the cost of the flat as interest by then. Now, do your math. You will realize how BIG a LOSS it is if you are planning to sell after 10 years, even if you find a customer to pay more than double for your investment.
I understand where you are coming from, my dad said the same to me 10 years ago and put all his money in FD. I wish he hadn’t. Today most home prices are at least 2.5 times the rates in 2004 (most are even more), those homes also generated steady rents for 10 years apart from appreciation and also note that the rents are now about 3 times more than 10 years back. In any case past need not indicate future, but I would like to consider all of the below:
1) At current interest rates it will take 7-8 years to double your money in FD. In my opinion most homes would too.
2) This is with the assumption that you do not spend any of the FD interest.
3) This is also with the assumption that interest rates wont come down, in reality all analyst predict interest rates coming down.
4) Without a flat I have to pay rent and rent in most places grows at rate of 5-10% per annum. If you were to buy a house in BC today, from 2016-17 you can expect to save 3-4% on your current “house value” in rent annually (note: it is not on your investment value, its on your current house value). This will keep growing every year.
5) As an area develops so does the value of house, and there is lot of development planned in this area. Even if you feel no development will happen, Karle will not be able to add office space etc construction projects need raw materials and wages which are impacted by inflation. you can expect inflation alone to move up the prices significantly in 10 years.
With all this being said, the percentage of loan taken on property does impact which is better – renting or buying.For individual analysis below calculator is very helpful it accounts for several factors:
http://www.bigdecisions.com/rentvsbuy.php
Waiting for any further price fall may not be wise.Prices have not gone up much during the last two years.Adjusted against inflation it is a fall in price.With the inflation inching up don’t expect any crash.Rents will go up with inflation and interest rates on FD are poised to fall.In such a scenario not buying for end use is foolishness.RE or gold gives huge gains only in short periods of time.During long periods RE will hold its own and gives better gains in the event of sale.Anyway don’t think of sale for sometime.If you want pure investment buy plot but it is risky in big cities because you can’t make out whether you have been duped or whether some thug is lurking round the corner to fleece you over ownership rights or some other reasons.
ye sure , you can’t compare real estate with FD.
This is not for BC, it’s valid for nay property.
10 years later if you are benchmarking your property to double, why would anyone not buy in a new building at those rates? There is also something called depreciation! Also capital gains tax that you will need to pay if you sell – in case you buy another property to avoid paying the tax in that case it is only paper profit – worthless – Please remember the more developed a country gets the more stagnant its markets get – whether it is GDP or property prices. Also you can be rest assured that the next 10 years returns from real estate are not going to be anywhere near the past 2 decades and there is nothing wrong if your dad had put the money in FD 10 years ago – he played it safe – it is you who are being greedy and wishing he hadnt….
Well said my friend
Thanks Rochester!
It amazes me that there are over a billion people in India and of them 95% (at least) are just herd followers who bank on rumours and past performance. If A is doing something so should B. Yes, a few investors over the last 2 decades made stunning profits and increased wealth by leaps and bounds, but that doesn’t mean it will continue to happen. Anyway good luck to all!
100 % agree
There is an CDP road and PRR planned to pass through the property. The city concept does not hold true if public roads pass through it. Does anyone have view on this. Is it good or bad?
If PRR pass through the property it will be great positive for Bhartiya City. Please note that porposed PRR is about 1 km away from Nikoo homes.
Deepak,
As i got to know, there are 2 phases, and this PRR should pass through between phase 1 and phase 2, currently phase 1 is being developed and phase 2 is planned for later.
Rajesh
The PRR proposed road will be great for this project. This road is already shown on their master plan drawings. This will be great for connectivity to Whitefield and other areas in the east. The road is more than 1 km from the Nikoo homes being built. Phase 1 of the project is completely sold out. Phase 2 is slated to open any time in March close to the festival season. Construction if phase 1 and the IT complex is going on at good speed.
The pace of construction has picked up in Bhartiya city and looks like they will be able to finish the project by July to Sep 2016. It is great news. I conclude this because 9 th floor is ready in block 9 and now the lag is only 3 months.
If one sees the google map – there is a huge quarry radially at a distance of around 1 km from the Nikoo homes area (Hosur bande quarry). Won’t there be a concern due to the blasting work carried out in this quarry ? This might affect the building foundations. This quarry is operating illegally with nexus between the quarry mafia and the politicians because as per supreme court quarrying in a residential area is illegal. Kolte patil raaga apartment is already bearing a brunt due to blasting work carried out on a daily basis. Anyone who is booking in Nikoo homes must force the builder as a good-will gesture to enforce stopping of the quarrying nearby. I hope Bhartiya city management can do the same due to there connections and influence. I would also suggest to all the builders doing development in the nearby area – like Brigade, Kolte Patil, Supertech, Bhartiya City to join hands and enforce stopping of the quarrying.
The distance as measured in google maps is more like 2 km from BC. I don’t think this is an issue. Hotel Leela is investing something like 300 crores to build hotel and residences not to mention thousands of crores by Bhartiya group. I am sure these guys have looked at this before investing so much.
If you have not read the details, after construction BC still plans to own all the commercial building and spaces and lease it to the companies. So unlike other construction projects BC will still have a big financial stake in the success and maintenance of this whole area.
Also note that the prject will be complete only in 2018 or so by which time this quary might be completely fleeced.
In my opinion this is one of the best projects in B’lore right now. If BC sticks to it’s plans and delivers on it this will be the area everyone will be envious of. It is very similar to Brigade Gardens project in Rajaji Nagar. Just look at those homes now. There is nothing less than 2 Crores even for 2 BHK.
Please note that these are my opinions based on detailed research I did and I am not Agent or BC management person.
Ajay
We are interested in a 2 or 2.5 bhk at Nikoo homes. If anyone is interested in selling, please contact me at rpicl20002001@yahoo.com or 9620722200
Hello Raj,
Have seen your post showing your interest for 2- 2.5 BHK at Bhartiya City.
I have 2.5 BHK Duplex Apartment in Tower 9 at 11th Floor. If you are interested to buy please call me for the discussion. I am available at 9902766644.
Hi,
I am selling my 1 BHK,area 760 sft tower 8, 19 floor @ 5000/- per sft basic all other charges as per builders list. Genuine buyers mail @ halimamnm@gmail.com
I am interested in buying a 3 BHK preferably above 8th floor. Please contact me if anyone is interested to sell. Email : jay123613@yahoo.com
Looks like Leela Residences is coming up in Bhartiya City. Harsha can you please put some light on this?
I just received below email from a sales person and its on pre-launch
———————————————————————————————————————————
Dear Sir,
Greetings from Bhartiya City!!
We bring you ‘Leela Residences’ – branded residences on the 126 acres of experience called the Bhartiya City.
An exclusive community of premium luxury residences, adjacent to the 256 keys Leela Hotel set amidst the effervescent ‘City Centre’ of Bhartiya City.
The branded residential block is maintained and serviced by the Leela Hotel and will come with premium specifications as standard.
The Leela Residences at Bhartiya City will be spread across 3 towers, soaring up to 24 levels with a clear view of the Central park, landscaped terraces, the boulevard or all of them. The unified 6th level of the 3 towers will hold the ‘Residents only’ club, which will be manned and managed by the Leela Hotel. The club house spill out on the landscaped terrace which also hold the heated swimming pool along with more amenities.
Good living made effortless!!
Bhartiya City is a mixed use development city comprising of residences of various formats, IT park, luxury hotel, convention centre, retail, Cineplex, schools, hospital, Centre of Performing Art and plenty of green public realms.
The city is ideally located in the North of Bangalore halfway between the International Airport and MG Road.
Bhartiya City is easily accessible by one of the many good roads like Outer Ring Road (ORR), Bellary Road (Elevated Express High way), etc. In future, the planned Peripheral Ring Road (PRR) adjacent to Bhartiya City will connect different parts of Bangalore.
Leela Residences – where luxury is a way of life……………. Only for the discerning few.
———————————————————————————————————————————
Thanks,
Kishan
I am having 1.5 BHK in Tower 9 in Nikko Homes. If any one interested may call 8986871967 or email at dhananjaysail@yahoo.co.in
Please find the below link for Investor / Resale stock
http://harshasagar.com/resale-flats-in-bangalore/
We are interested in a 2.5 bhk at Nikoo homes. If anyone is interested in selling, please contact me at seemasharma312@yahoo.com
I am selling my 2bhk, call me for details @9945082983
Please contact 09948964294
i am interested in buying. plz send me details to milan.dey@gmail.com
I have 1.5 bhk, if interested may contact dhananjaysail@yahoo.co.in
Please contact Rajesh 09948964294
Tell me the reasonable price, dhananjay.
I am looking for 2.5 or 3 bed room apartments in Nikoo homes. Plz contact me at snaik25@gmail.com or 001 407 415 7451.
I am upgrading to 3 bhk. I have one nicely located 2.5 bhk in phase 1. Let me know if you are interested by sending mail on rohan_2000k@yahoo.com
Do let us know if anyone here is interested in a 2BHK at Bhartiya City. Please provide your contact details/mail address in reply to this post, and we’ll get in touch with you.
Pl’ send me the details @ santoshjena2020@gmail.com
Interested in 2bhk in BC. Please contact me @9986698507.
Pls let me know the details of your 2bhk at Bhartiya City, my mail ID is ssamir@rediffmail.com
please do let me know the details of 2 bhk …. i am interested in buying.
Hi Madhusudana Bhaskar, Please leave your contact no or mail id in reply to this post, and we will contact you.
Hi, I am looking for 2BHK in Bhartiya City. Please let me know the details. You can mail me at pawan.kch@gmail.com, and my contact is 9986025301
I am interested in 2BHK, you can contact me @9986025301, pawan.kch@gmail.com
Hi am looking for 2bhk let e the details
Hidayat Please send me your mail id if you are interested in 2.5 bhk normal(not duplex)
Hi am looking for 2bhk duplex let e the details
hi i am looking 2bhk in nikooo homes
Hi ,
please share flat details to geeta.ikya@gmail.com if it’s available
Visited the site yesterday, all 2 and 2+ bhk are sold out, only loft and some large 3 bhk are available, interested in 2+ or smaller 3 bhk let me know if any is available for resale. The marketing guy also told be about another phase launch in a few months (2-3).
Whats the ongoing price for the remaining 3BHK?
Lofts vary from 1.15 – 1.27 and 3 BHK 1.02 – 1.06 .. will need to add another 10% for Taxes and Registration.. pricey
Thnx 🙂
What’s the per sqft price of 3bhk???
I am looking for 2+study or 3 bhk , if any one selling, let me know.
Please provide your contact details in reply to this post if you’re interested.
Chinu, I have a 2.5 bhk in tower 9. Call me at 9945534000
pl’ let me know the price @ santoshjena2020@gmail.com
it will be the current price being quoted by BC incl PLC charges etc…
Please provide your contact details if a 2BHK still interests you.
Interested in 2bhk in BC. Please contact me @9986698507.
Is Bharatiya city also having any issues with flats facing graveyard, crematorium like Shoba city, can anyone help on this point
No it doesnt have any such issues, however the construction is little slower compared to expectations.
GIM Groups is telling lie.
BC has graveyard behind the Block no. 9 /8 and 7.
so pls be careful , looks GIM Groups has personal interest so providing wrong information.
We have no personal interest in this project.
Behind tower 9/8/7 its not a graveyard, its couple of graves which might be old landlord family. It is not an operational graveyard as the case behind Sobha City.
Hope this clarifies!
That graveyard is not used now, it has few very old graves. One can hardly recognize it.
Nothing like Shobha city graveyard which is still used.
I want to buy 2bhk.If anybody interested to sell contact me vibhorgupta1205@yahoo.co.in
I am looking for 2bhk apt, if any 1 selling please mail to saritha.hbl@gmail.com
I suggest you to wait as progress is very slow.
I am not sure if builder can complete the project as per plan and price is already 5000+ so wait for 6 months. Atleast you can save interest 🙂
Guru – What is your source for the price? The base price is 4720psqft.
Ant can run after than the construction speed. I am sure get the procession in 2020.
Vision 2020 🙂
Joke apart, Bhartiya city is launching one more project in same campus so don’t expect much hike in price.
Already base price is 4720+ and BC got only few 3+ servant qtr apartments. 50% are investors so get large no of apartments for sale. Wait for 2 months and check the price.
I posted this 3 months before and no change in price. Are you expecting change in price 🙂
If you have more investors compared to end users, any project will surely get delayed
But can someone from civil engineering line confirm what happens to the beams and structure if the delay is more than 10 yrs or so, will it still have the same structural strength, as plastering is not done, wont erosion take place
Hi,
Iam intersted in buying a 3 BK let me know if anyone available at ur end.
+919986702902.
Shri.
I am looking for 2bhk.contact vaishebab@gmail.com
yes i m intrested to sell
What is the current quoted price?
4770 base price,
One of the member mentioned that BC is using Mivan technology in construction. Below are limitations I came across in Google below limitations about this technology:
1) Because of few small sizes finishing lines are seen on the concrete surfaces Services after completing become slightly difficult due to the small width of components
2) It requires uniform planning as well as uniform elevations to be cost effective
3) The formwork requires number of spacer, wall ties etc. which are placed @ 2ft c/c; these produce problems such as seepage, leakages during monsoon
4) Due to box-type construction, contraction cracks are likely to appear
5) Heat of hydration is high due to shear walls It is rigid in design once placed, as any alteration becomes tough later.
Any completed project used this MIVAN technology. I read somewhere that Prestige Shantiniketan also used this tech for Residential blocks.
Is this some kind of efficient and latest technology.
Is it confirmed that BC is using this technology.
As per my understanding, from 1st floor onwards there will not be any pillars or beams. Walls are formed with RCC in pre-cast frames. The walls are going to bear the load of building.
Hi Baasu,
It’s a more strong, fast and proven technology across the world and most of the new highrise in Bangalore also are made using this. Don’t now about PSN but Purvrva highlands was built with this tech.
There is one common wall in 2.5B inner facing… other configurations doesnt seem to have… consider this if you are going for this .
Hello,
I am interested in 3 BHK ( anything between 1- 4 floor) . If anyone interested in selling your apartment please email me the details – jayatlanta14@yahoo.com
Thanks
I have at 7th Floor, would you be interested.
Hi Satish,
Are you still selling the 7th floor 3BHK. Which dimension is it? Please contact me @9916409900
Are two sets of agreements (sale and construction) needed to be signed? The advocate advises to sign and send only one set. Please suggest the process
Hi,
Can someone tell me how much will be VAT and service tax % for a 3 bhk flat which is costing around 90L now ? Any inputs are appreciated.
it would be around 8 Lakhs.
Regards,
Anil
Hi Anil,
How did you arrive at 8Lacs for VAT and Service TAX. I also want to calculate for 2.5 BHK (sale value=62 lacs).
is there any formula?
Hi All,
If any one willing to sale sell their unit please contact me. I am interested to buy 3 or 2.5 or 2 bhk apartment on in BC Nikoo homes. If you bought earlier for investment and willing to sale now please call or mail me
Mob-8792895257
Mail-ajitrjha@gmail.com
I am about to book a flat and I need the draft copy of the sale agreement. If anybody has the latest please share.
Did they offered you any discount and at what rate are you booking unit? Thanks.
No discount was given to me I just booked 1bed study flat.
Whats the ongoing price?
Pl think twice before booking.
some of the points which made me cancel are.
1. there is no proper mention of lifts- 3 lifts for 250 houses
2. there is no proper fire prevention mechanism or escape mechanism
3. project completion time is 3years from 2014, so ROI will take more time
4. I had to lose 50,000 for cancelling after booking and if you cancel after agreement may 5,00,000 (think twice). and will return the money after 60 working days Bhartiya city can enjoy my 2Lakh without interest good for corporates isnt it.,(,it says in the booking form. any signature take your time to read it)
5. Selling methodology is they will say there is no flats available now, can pay a cheque for 2.5 L and will inform you when any apartment of your interest is available are opened as you are now preferential customer. and will suddenly call and ask you to reply within 5 minute half hour and then if you say yes, you got stuck!!!
6. New builder from leather and fashion business
7. more than 2500 houses in 17acres
8. project with more than 2000 around that area- webcity, shoba city, purvankara beach..
PRO:
1. Peripheral ring road
2. integrated township
3. access to KIA
Hi, bad luck you had to loose 50K, but yes you are lucky to save few lakhs.
1. there is no proper mention of lifts- 3 lifts for 250 houses : they have started construction by now they have completed 4 slabs, lift well and duct will be visible
2. there is no proper fire prevention mechanism or escape mechanism : without fire clearance they will not get O.C
3. project completion time is 3years from 2014, so ROI will take more time : every builder is talking 3.5 to 4 years only
4. I had to lose 50,000 for cancelling after booking and if you cancel after agreement may 5,00,000 (think twice). and will return the money after 60 working days Bhartiya city can enjoy my 2Lakh without interest good for corporates isnt it.,(,it says in the booking form. any signature take your time to read it)
5. Selling methodology is they will say there is no flats available now, can pay a cheque for 2.5 L and will inform you when any apartment of your interest is available are opened as you are now preferential customer. and will suddenly call and ask you to reply within 5 minute half hour and then if you say yes, you got stuck!!! every builder use the same marketing skills
6. New builder from leather and fashion business : every second development is from new player, if you go to old player he will suck the last drop of your blood
7. more than 2500 houses in 17acres : need to check and authenticate this point
8. project with more than 2000 around that area- webcity, shoba city, purvankara beach.. all in the same lines
PRO:
1. Peripheral ring road
2. integrated township
3. access to KIA ;
What is the discount bhartiya city is offering on current price ?