Purva Sunflower – Magadi Road, Rajajinagar
Purvanakara will soon launch their new apartment project at Magadi Road, Rajajinagar. The project spread on 2.3 acres of land will offer 326 units on G + 19 floors. The name of the project is finalized as Purva Sun Flower.
Purva Sunflower Options
- 2 BHK ~ 1200 to 1400 sft
- 3 BHK ~ 1600 to 1892 sft
Purva Sunflower Location
Opposite Sheshadripuram PU College
Key Distances
- City Railway Station – 1.4 km
- Majestic 2.7 km
- MG Road 6 km
- Mantri Mall 3 km
Purva Sunflower Road Price
7000/- per sft as of Jan 26, 2013
Purva Sunflower Investment Plus Points
- Located in a well established residential area
- Close to schools,shopping malls & hospitals
- Proximity to Metro stations Magadi Road & Hosahalli
Purva Sunflower Magadi Road Concerns
- Be the first to share
Take the poll – Is Purvankara Sunflower @ Magadi Road a good investment?
Hi,
How is the progress of the project? Planning to buy a 2BHK here for immediate occupancy.
Can any buyers can comment on the legal side of the project.
Hey Tanmay,
As per my conversation with the sales guy of Purva, the handover has been delayed by 3 months. It was supposed to happen in June 2018, but now they are saying by September end you would get the possession. And with interiors it would be another two months. So ideally you should be able to move in by December 2018.
I guess there are bunch of 2 BHKs available.Since it has received a rera number as well, I hoping there aren’t any legal issues.
Regards,
Chetan Hatti
Today I heard from one of my friends that Purva has asked him to occupy his apartment in Block A since as per RERA they were supposed to handover by 30th June 2018 today being 29th June!
Very confusing unless we see ourselves and I am planning to visit by 13th July 2018!
My 2 BHK booked in B Block is for Immediate Sale with gross cost (Including everything viz Car Park, Club Membership, KESB Deposit, VAT/GST except Registration cost) much lower than Purva’s present Base Price of Rs 8300/ per sq ft since I invested in March 2013!
P Naik
+971565919777/+971505183306
Hi Chetan,
Thanks for the reply, but the sales guy at the site told me they have received the OC and should be able to move in soon. But looking at the state of construction seems what you are saying is right.
Have you purchased an apartment here?
Thanks,
Tanmay
Dear All,
I have received a call from Purva/Bangalore stating that it may take another 3 to 4 months for them to wrap up with all the other pending works. In the mean time they are asking us to take over our apartment for carrying out Interior works in parallel. Either we could register now or later on after there official hand over but it seems they have No Objection for us to carry out the Interior works simultaneously since RERA deadline is over by 30th June 2018!
HI Guys,
I came all the way from USA thinking they will handover by July 15th, i went to the Purvankara office, they said it will be end of September as there are no basic facilities available like water and electricity.
So my gut feel says this project will be ready to occupy by beginning of january 2019.
Regards,
Patel
dear all
its unfortunate that the builder is not committing on any firm date … canwe all contact the builder personally and get some assurance on timelines…my contact number is 9448270555…may be we can start a whataspp group to get this going… else we operate on individual basis to which the builder hardly bothers…
prakash
Dear All,
I call this as height of cheating……………….. Purva has been silent on construction program in a construction linked payment plan without inserting any penalty clauses for the delay from the developer!
Could any one clarify to me on the following?
1) How could the developer set off with the illegal construction without receiving a commencement certificate from BBMP?
2)Having set off with the illegal construction how could he cure a slab within 15 days time? Is he carrying a magic stick?
3) I came to know from reliable sources that the developer purposely bribes the statutory authorities to delay on the issuance of the commencement certificate so that he could take shelter under that clause to delay hand over further……For eg on SunFlower they just got commencement certificate in Jan 2015 whereas the construction had started in 2013 to claim money from gullible like us………..
I shall appreciate if they could even complete the project by June 2018……………This may be the 8th Wonder of the World if they finish earlier…………
Couple of Managers have already left their Dubai branch office/organisation since they could not withstand the fake commitments made by their Management………& humiliation being faced from the Public………
They seem to be working without a construction program in hand…….Like having a typist without a type writer……….
With Deep regrets,
P Naik from Dubai
+971505183306
Dear All,
I had visited Puravankara’s Dubai office recently and have come to known that they have no control over what Bangalore office and their staff have been doing!!!!!!!!!!!
That means all the commitments made by their staff in Dubai/UAE appear to be fake ones………
I have personally taken up the issue with consumer rights group in Dubai who have started the investigation on their fraudulent activities/advertisements and may ban this group once for all along with a hefty fine to be imposed for so many unauthorized advertisements during recently held property show. One of the fraudster is Farooq representing Purva and seem to have no authority at all when I checked with their Head Office in Bangalore personally on 16th & 17th June 2015!!!!!!!!
Please be careful in dealing with such personalities…….
P Naik/Dubai
+971505183306
Dear P.Naik
Farook had promised me during the booking of the apartment on 15 June 2013 that Project will be completed by Dec 2015 and up to last year he was telling the same (orally) , when Purvankara CRM sent Commencement Certificate in Jan 2015, he also started bluffing now.
They are liars. I have shouted 100 times over phone and yet they are only focussed on collecting payments. Looks like once all 19 floors slab work is completed the project work would slow down as by then would have collected roughly 80% from all of us. They have sold only 55% of the inventory in this project as of June 30, 2015. In the quarter ended June 30, 2015 they manage to sell 4 units despite marketing gimmicks of renaming a block within this project as purva limousine etc. At this rate I think we would be lucky if they complete this project by 2020. The worst is we don’t have any penalty clause for delayed handover.
We are in June 2018 and Purva has still not confirmed on a firm hand over date on Purva Sun Flower! Even after 5 years have lapsed………
Please find the below link for Investor / Resale stock
http://harshasagar.com/resale-flats-in-bangalore/
i have a flat in purva sunflower…i think all the flat owners need to form a group so that we can collectively take up issues with the builder. flat owners pl contact me at my email id
What are your concerns Prakash?
My concern is on lack of transparency. They are only busy in collecting funds against slab construction that too from Block A & B much faster. Block D is too much lagging may be there were no buyers in that wing! God knows after collection of almost 90% of payment when they will complete the total project without any definite program in place!
Naik
For block A they already collected for 6th floor at this rate they wud finish 19th floor slab by year-end which means we wud have paid around 90%.
Dear Iyer,
May be you have to wait for another two years after that to take possession of the property. ie end of 2017! Unfortunately they are not submitting copy of a realistic construction program.
Naik
They have schedule to complete the Project by Jan 2018.
Dear Jagdeesh
If Purva completes this project even by Jan 2018, ie almost 5 years from 2013 then I may call this as 8th wonder of the world!!!!!!!!!!!!
Forget it………they may not complete even by June 2018………this is my view and challenge to Purva an armature builder working without an approved construction program in place wherein the payments are all linked to the progress in construction!
Naik/Dubai
00971 50 5183306
Another quarter has passed (April – June 2014) and purva unable to sell even one unit in this project during the quarter. They still have 122 units unsold. I am afraid this poor sales after pre-launch may result in undue delay in completion. Their other projects launched subsequent to sunflower such as sky dale, west end etc. are seeing good sales in every quarter. ;-( what is wrong with this project? Why nobody showing any interest?
How do you know the sale figures? Can you please share your source of information?
September quarter they managed to sell few units after almost a year of no sale in this project. Every quarter they post the investor conference presentation deck on their website. In that deck they give all details about completed, ongoing and future projects.
they have increased their marketing expenses..but never changed the price..
hardly people buy apartment these days…hy pay 1 cr for 3BHK ? and get 20k per month rent..
dear rajesh
pl share ur mobile number… i am prakash and own a 3 bhk flat at sunflower
prakash
Are they on track to handover the flats by Jan 2016?
May be another 4 years considering 2 months average time for rest of the mile stones (24) to be achieved……..They are still at plinth level only considering the time lost already to reach this level!
Naik
Hi There,
Today I noticed one more thing from the email received from Purva for payment against starting of plinth!
The email has been received today 7th July 2014 and they want payment to be leased by 15th July 2014 not allowing even 10 days agreed by them in the agreement! Infact without a definite construction program in place it is very difficult to even plan our cash flow and resources. After one and half year time they are only at plinth level and you may imagine on time required to achieve rest of the mile stones.
Naik
In my case they took the money last month itself. They sent demand letter around June 10.
How is this possible?
They are supposed to collect funds only when the actual works starts at site and should be common for all. You didn’t get the site photographs depicting the progress?
I am basically worried about delay in completion of the project!
Naik
Probably my block was different from yours. I have booked in block A.
Yes mine is in Block B. But it doesn’t mean they will be handed over at different stages and lag between the blocks may be maximum one month or so………
However, there are many milestones to be achieved and their definition of start of the project and completion is very vague. You may have to count atleast 3.5 years from Ground Floor plinth if not more since it is one project whether it is Block A, B or C………..including all the amenities like swimming pool, club house etc
Naik
I wasn’t saying block A would finish early and handed over before other blocks and amenities are completed. I was saying may be they collected money from me last month as block A plinth commenced then whereas your block plinth work may have commenced only this month. Yes, I am also worried about the completion of total project. Usually builders complete outer structural work quickly so that they have almost 90% of the total deal value already in their pocket. But in this case even that is going through enormous delay. At this speed they would complete outer structures only by 2017 July. From there it would be another 2/3 years to complete internal work, flooring, plumbing, Electricals, common areas and amenities. I wish I find a good deal to sell it at a good profit before 2020.
Hi,
Looking at the present rate of progress I am ready to sell at any point of time at their published official rate and 4% commission to the builder as transfer fees. Pls let me know if there are any takers.
Naik
That’s not good considering the absence of any compensation for delay in handover. On top of this their crm team has got attitude problem. Don’t know whether anyone has bought after pre-launch. Looks like they are struggling to sell.
I am not getting proper response from CRM team of Puravankara.
Surprisingly for Block B, I have noticed that within 20 days time they seem to be laying, shuttering, pouring of concrete and curing also so as to collect the payment against start of each slab. Does any one aware of such planning?
eg for 3rd floor slab release of payment was 20th Nov 2014 and for 4th floor slab they are claiming for payment by 9th Dec 2014!!!!!!!
There is so much room to start block work from Ground Floor onwards but are not bothered at all!!!!!!!!!
Normally 28 days is the ideal time required for a concrete slab to attain full strength unless a different modern way has been followed by Puravankara to reduce the time frame. I could see from the photographs that all the probe supports for the third floor slab have been removed and CRM are reluctant to share the info on slab strength or the copy of their construction program. I think they are only busy collecting payments against each slab since mile stone for most of the payment collection is slab construction! You may wish to review this. If the clear intention was to complete the total project with proper quality in committed time then I would have seen some progress in other lower floors on block works etc also.
Naik
Block A construction is also happening at fast pace which makes me worry. As you said I have seen at least 30 days gap between construction of floor slabs. But in this project, 4th floor slab was constructed within 20 days from 3rd floor slab completion. I don’t think puravankara can afford bad quality in this project as they are already struggling to sell projects.
Dear Iyer,
For cast in situ slabs even 30 days may not be sufficient considering time required for laying of reinforcement, shuttering, pouring of concrete and the later 28 days time for curing to attain full strength if all the probe supports are to be removed. Most of the major builders have minimum 45 days to 60 days time period between two slabs casting. If not they may choose to go for precast slabs to save time.
If other activities are also set off in parallel then 3 to 3.5 years is more than enough for an 18 storeyed building to be finished.
I don’t know what is the secret in not handing the copy of their construction program. Once all the slabs are completed and major payments are collected they may take their own time to complete the rest of the works with positive cash flow in hand.
Naik
Dear Iyer
The way they are planning my estimation is end of 2017 that too if you are lucky. Since there is no penalty clause for the delay in handing over of the property we will be left with no option. I will never ever buy another property from this builder who is not transparent with us.
Naik
Can anyone please tell me the current status of this project – launched or pre-launch? If launched, why company website has no details about this project?
Is there any activity at the site?
Thanks in advance.
Dear Nandama,
The project seems to have been launched with the new price. Till they claim 5percent agianst strat of excavation U may cinsuder the delay on that. As on date I foresee a delay of minimum 1 year if not more. That is why they R refusing to insert a clause on penalty on delay in hand over. They have agreed to amend the total payment to progress in construction but I am yet to receive the amended letter. If they are charging separately for the club house this area should be excluded from other common areas. I am yet to receive confirmation on this in writing.
Have U signed the contract?
Please let me know,
Thanks,
Naik
I have asked for many documents, clarifications and amendments. Until I see all of it I am afraid I cannot sign.
Finally Purva has agreed to amend the payment terms against the progress in construction. It seems amount charged for the club house is for the membership and the construction cost is part of the common area of the total construction. However, they have not agreed to insert a clause on compensation for the delayed hand over. Unfortunately start date has not been mentioned and I am not aware if they have received the permit for excavation!
I am really worried about the delay caused in setting off the project itself on which as per the present draft of the agreement we could not claim any compensation for the delay even if the excavation is delayed by another one year! Very unfortunate situation as one sided at their mercy!
I don’t know what to do with this contract/builder. And could not deal anymore with this builder or recommend to any one else to invest till the project is put in proper track and taken over in stipulated time.
Hi Naik,
What is the payment plan? construction based or time based?
I am planning on not signing the agreement till they change the payment plan to construction based as per initial discussion, when the project was pre launched.
Thanks,
SPatel
Finally they have agreed with me for the construction linked plan in 30 installments and not on the time basis with an addendum to the agreement. Unfortunately they have not agreed for the penalty clause on the delay in handing the flat and start date is still not known with a very vague clause in the agreement. You may get lost after reading it.
It appears I have to start searching for a buyer from right now since I foresee minimum of one year delay in completing the project from now on without the penalty clause!
Naik
Dear Patel,
I have booked a 2BHK apartment with Prestige WestWoods which is very close to Purva SunFlower and when you consider additional charges being charged by purva on club house membership, higher rate for a car park (4.5 lacs as against 3 lacs being charged by Prestige) and another premium for the view in addition to the floor rise, transfer charges of minimum 4% being charged by Purva as against Rs 100/sq ft being charged by prestige etc then Prestige’s price of Rs 7,000/ sq ft was very reasonable. And the development of the site is much bigger with bigger share of undivided land with lot of greeneries with three sides of the apartment exposed to atmosphere and not congested construction like Purva’s. I had to sweat a lot with Purva in bringing some of the contract terms friendly to the buyer. Whichever project is delayed for construction and hand over will be sold off by me.
@Naik..Dear Sir, can you please tell us the rate at which you booked in prestige and what are they charging for car park and club house. Kindly also let us know what penalty clause they have included for delayed construction ( Im sure they have not ). And can you tell us the expected time of completion of west wood, as far as i think logically if Purva takes 3 years then prestige will take an easy 5 years as the size is more than double. Thanks Sir.
Dear Hitesh,
Point is not about the cost and the time alone. Some how Purva has been dodging on many issues without making clear statements made in writing at the time of booking. That is where I am not comfortable with!
Yesterday they were talking about 6% transfer fees which could be changed at their discretion if left open! They were not even agreeing to limit this charge to maxm 4% or to reduce to 2% if you are re investing with them in another property as an investor. How could you leave it open without a sealing? Then all the returns on investment will go to the builder and not to the investor!
Whereas Prestige stated from day 1 that the payment is time bound.
FYI,
Basic cost in WestWood is Rs 7,000/sq ft only without any additional premium for the view where as Purva has as high as Rs 500/sq ft additional charge for the view itself on a basic cost of Rs 6490/sq ft.!
Premium on floor rise is same with both of them, Rs 25/sq ft after 1st floor.
Cost of car park is only Rs 3 lacs as against 4.5 lacs being charged by Purva!
No additional charge for the club house……..whereas Purva is charging Rs 1,25,000/ for a 2 BHK & Rs 1,75,000/ for a 3 BHK!
Completion is 3.5 years as against 3 years stated by Purva.
Transfer charge will be Rs 100/sq ft as administration charges only.
Agreement yet to be received and discussed. Let’s wait and see……
I would like to deal with hastle free builder in a smooth way without much arguments and relations being strained……………
Guys,
This is pure negotiation technique engaged by purva here. They will of course agree to construction based payment plan only to cover up absence of penalty clause. Refer to my previous post in this page. I have listed 4 changes required to the agreement. Without those changes no buyer should sign the agreement. I am not going to sign.
I have noticed one more clause wherein it says they could take up to maximum of 6 months after obtaining clearance for excavation from BBMP!
Now, I hope everyone will consider it as a 4 years project and not 3 years as stated by them considering another 6 months for them to apply and obtain water & power connection in the end before handover.
In addition there is another clause on strike etc by workers referred as Force Majeure/Act of God for which there will be no compensation for any delay. You mean to say their own hired or employed workers going on strike for some internal problems on wages/bonuses etc will be called as Act of God?
I am lost in this……..
Dear Sir,
Completely agree with your above points and even agree that what is promised should be delivered, also its the correct decision as you mentioned that every thing has to be in writing as this is a agreement and business and not just a proposal. Will wait for your views regarding Prestige as i assume most of the known builders developers are following a similar format or pattern when it comes to agreements . Would like to have a closer look at the differences and also the pros and cons , will help decide in future investment plans. Thanks again for your valuable guidance and input.
Dear Hitesh,
I am not trying to debate on behalf of any particular builder. Just because you only mentioned about owners share having penalty clause I have been persuading with them. Otherwise I might have left as it is if this was the standard with all the builders going on trust etc. But if they are following a double standard in the same project each contract signed may have its own pros and cons you see. Though the payment terms for Prestige are time based it goes upto the end of 3.5 years of construction period with staggered payment terms. I totally agree with you that their project also may take minimum 4 years. Since there are separate towers and not one huge building like Purva’s all could be started in parallel either by one sub contractor or many. It all depends on the reputation of the builder. But if some one is trying to play around the words and not willing to stick to what is said in writing at the time of booking then you start losing the trust……………I also understand that we need to take some amount of calculated risk and could not insist on each and every nut bolt detail in writing. But with Purva they are not responding to several of my mails with YES or NO answers even by emails leave alone inserting everything in the contract agreement!
hi hitesh
pl share ur cell no so that we can be intouch and plan the future course of action
my number is 9448270555
Dear Hitesh,
What I see on revision to the prices is only a gimmick! We may have to wait and see if the revised price is realistic to meet the market conditions & if there are any serious buyers in the market at this revised base rate of Rs 8635/sq ft with additional revised cost of Rs 6 lacs on car park & Rs 2.25 lacs on club membership for a 2BHK of 1225 sq ft area. Even if you find a buyer 4% of the above total cost will go to the builder in addition to some commission to the broker.(say minimum 1% of the total cost)
I had reviewed your previous analysis with the above price as against an one time (100%) payment investment from the owner’s share.
Now you may revise your analysis based on my offer on a premium view flat as against a standard flat offered from owner’s share which may not be that attractive from a poor view. And if there was a premium view flat available I would have bought it myself with 100% payment along with penalty clause as confirmed by you.
I shall offer my flat for sale with Rs 200/sq ft less than base price of Rs 8635/ (i.e 8435/ base price only and give further discount of Rs 1 lac on car park & club house expenses together and bear 4% transfer charges to the builder myself plus I am ready to pay another 1% to an agent/broker who could bring a customer including you with the payment plan as per the construction of 36 months on as is where is conditions of the contract proposed by Purva and transfer the property to the buyers name. All Taxes+ stamp duty paid shall be reimbursed based on actual only without any premium to me though I have paid as early as March 2013. As on now only 25% of the total cost has been paid to the builder along with all the taxes, stamp duty etc. This offer is valid for a month’s time from today subject to reconfirmation from my end thereafter.
Please let me know if there is any buyer……………….I would like to come out of this deal asap and save my precious time in argument with this builder.
Thanks,
Naik
Dear Hitesh,
Any takers for a 2 BHK flat with the discount offered by me on the revised price with construction linked payment plan considering 4 years completion time from the start of excavation? In addition another six months time has already been lost by me from the date of booking at prelaunch till the excavation with 25% payment released to the builder. So far I have not signed the agreement due to pending confirmation on amenities being provided in Kitchen and have still not received notification on start of excavation as well!
I would like to get out of this contract asap since the builder could not establish confidence with me. For every small query raised based on the booking terms they are disputing. I don’t know what for we are paying such a huge price………
Dear Hitesh,
Any takers? I am desperate to dispose off at any reasonable price asap,
Pls revert back to me on
Thanks,
Naik
Dear Hitesh,
Is there any takers?
I am ready to negotiate on the price further down and dispose off asap. Lot of my precious time is being wasted in abortive correspondences with this dodgy builder!
Dear Hitesh,
I thought you were very much involved in the project with contacts in Purva and with the owners. You may carry out another analysis with much reduced price than what is presently quoted by Purva considering payment linked to construction only as against one time 100% payment to buy from owners share that too without a proper view/choices. I would like to dispose off a premium 2BHK apartment located on 6th floor asap to save on my precious time being wasted in abortive correspondences with this builder. As you know there are many choices available in this market with ready cash.
Please revert back to me with atleast Yes or No reply unless you are no more active on this blog.
Dear Patel,
Have you signed the agreement?
Dear Patel,
Have you signed the agreement. It seems anything agreed outside the agreement is not legal and they may not even print the revised construction linked payment plan on their letter lead with water marks. What do you derive from this?
Dear Naik,
I haven’t seen the agreement yet, they are yet to send it to me. Anyways with all the conversation going on in this thread, i have decided i will not sign the agreement until they make it construction linked payment plan as was agreed during the prelaunch.
Regards,
S Patel
Dear Patel,
I hope you will not get heart attack after going through the agreement. Pls be prepared for the worst situation.
Hello Mr.Naik,
Any idea what stage this project is in?
Regards,Patel
Naik,
How do you know the project is launched? Even their website is silent about this project. There is no mention about this project at all.
I still haven’t seen BBMP approval. Have you seen it? Also the NOC obtained from various authorities were for construction of 13 or 14 floors, and not 19 floors. Probably these are the reasons why they have not launched this project officially. I am really worried that I made a wrong choice.
Dear Nandama,
News on launching of the project was only through verbal communications. Normally increase in price takes place when the project is launched and they could not claim additional 10% till the agreement is in place. You may come to know about the excavation only when another invoice for 5% payment is received. And any prelaunching and collection of funds is considered illegal. I have official receipts from Purva for having received the amount.
My case has taken a twist. Since they are dodging in fulfilling many of the commitments made in writing at the time of booking & are not agreeing for penalty clause the booking may be terminated shortly. I am planning to take up the case to consumer court to claim liquidated damages and the interest on the money paid to them (25%) and not going to give up till it reaches supreme court if not amicably settled. My actual losses may cross 15% liquidated damages and 2% pm penalty inserted by them and I am working out on actual expenses incurred by me to claim from the court. I am an NRI and have lost lot of time in abortive correspondences and devaluation of Rupee with Dollar since March 2013 (>15% on the amount paid) BBMP approval will come only when the construction reaches Ground Floor plinth which may take another six months due to monsoon and then you start counting on 36 months.
And if you have an evidence of not having approval for 19 floors pls the information with me so as to make my case much more stronger. My email address is
I hope it is quite clear.
Thanks,
Dear Nandama,
Please note that the quality of construction appears to be not of Luxury quality as they claim since in some areas it is only shell & core without minimum fixtures etc. They may claim variation at a later date!!!!! I shall discuss in detail when I receive the mail from you. There are many more issues related to this project.
hello
in view of the ordinate delay on part of builder a few people are planning to approach the builder and other authorities if necessary to speed up the project and to stick to the timelines…pl send share ur mobile number so that we can get going. pl message me to 9448270555
thx
prakash
Dear Ravi,
If the payment terms are construction linked with penalty clause on delayed completion then every one will get confidence with Purva. They could even exclude delays caused by statutory authorities in obtaining power connection etc which may be beyond their control which is understandable.
Some how I am not comfortable with time bound payment terms especially when I am investing from my own source.
Thanks for your advice. I too agree that it is not a very big project.
I would invest in some more properties with Purva if they honor their promises made in writing. And if they force us to sign the agreement with different conditions suitable to them, then we will be forced to dispose off the booked property asap to minimize on future risk.
Naik
They seem to be a dodgy builder. I am afraid that I made a wrong choice. First of all, in order to quickly collect 15 or 25% of the total cost they lied to me by saying that the project is officially launched. However if one visit their website there is no reference to this project.
Secondly they charge 4.5 lakhs from me for car parking. There is a Supreme Court judgment that prohibits such charges.
Thirdly the draft agreement sent to me cannot be written more one sided than its current form. The following clauses should be amended. I request all buyers not to sign until amended. Last night on NDTV property show they reiterated the importance of compensation clause in the agreement for delay in handover.
1) compensation clause for delayed handover. This clause is in fact present in the joint development agreement (65:35 share) entered between purva and the one who sold the land. When 35% of the project is eligible for compensation why deny for the rest?
2) transfer fee rate left open. This should be specified.
3) payment terms for sale of land altered from what was promised at the time of booking.
4) there is a clause that says there will be no compensation if the final uds of land is different than what was in the agreement, due to any additional utilization of common land.
Please spread the word to all buyers and ask them to fight for the buyers rights. I think purva is trying to take advantage of the fact that most of the buyers in this project are rich / NRIs. And since the location is good and the price has already significantly increased they are thinking buyers would sign any agreement.
@ fellow members
“1) compensation clause for delayed handover. This clause is in fact present in the joint development agreement (65:35 share) entered between purva and the one who sold the land.”
The above statement is very true and i can say this as i have a copy of the same and the rectification deed made after this. I don’t know why the penalty clause is not included in the agrement from builders side. I am not trying to justify buying form owners share but was just sharing what i know. Secondly from the info i have the time period is about 40 months from plan sanction and the plan has been sanctioned. Regards car parking i had stated what we were offering included car park and club house charges. I dont know the current offer from builder but from the one i received , it was clearly construction linked( have a copy of same) ,and the person i interacted with was one mr sanjeeth. @naik , nandama and other members, you can mail me on and i shall share what ever info i can if it helps you. Thanks all.
Through email correspondences, I under stand that transfer fee is 4% of the current price which has been left open for argument at a later date. This should be clearly defined.
It seems club house cost is IRs 125,000/ extra. We need to ensure it is not included in the measurement of common areas if we are paying separately for the club house.
All the areas (plinth & common) of the main building shall be remeasured once the construction is completed and final payment is made.
Penalty clause must be inserted for late hand over if they are charging 2% pm for late payment and liquidated damages of minimum 15% for late payments beyond 2 months. I suggest minimum 1% pm penalty may be reasonable for late hand over.
Anyway,
Under the present circumstances if any one is interested to buy from me with 25% down payment already made to the builder I shall dispose off the same asap at the best available rate without losing much time in argument with this builder and bear the 4% transfer fees charges also. Please let me know. I have already lost more than 15% due to Rupee depreciation since I booked the above apartment.
Dear Nadama,
I have been going through this agreement with a microscope due to the dodgy situation.
Please note that the layout plan attached to the construction agreement is different from the one signed off by me at the time of booking. The revised layout doesn’t show any fixtures in toilets, utility and kitchen areas. Though the specification pages from 12 till 15 cover a brief description on the fixtures offered in toilet and utility areas, there is nothing mentioned about kitchen.
Normally granite top with a double bowl sink along with hot & cold water mixture with provisions for a small RO plant, water heater, extract fan along with lighting and reasonable quantity of power points for the fridge, mixture, cooking range etc is offered. When I raised this clarification with the builder today I have not received any reply on the same. Unless some basic provisions are defined it is difficult to assume and presume from our side.
Did you receive any details on the above except the floor and wall tiles descriptions?
Please let me know,
Thanks,
Naik
Nandama,
Do you have the specifications on kitchen? What they will be offering as a minimum standard?
The layout I have received along with the construction agreement is just an open space without any fixtures shown and specs is missing!
Pls let me know,
Thanks.
I am reading all your comments and I must admit you are raising all valid concerns. I have not yet come to the stage of comparing specifications. I am waiting for the builder to get back on my original questions. Will keep you posted. This is a dodgy builder and I am losing trust with this builder. Will hesitate to buy / recommend another project from the same builder. Hope the management takes our concerns seriously. This business is all about reputation. Word of mouth is good enough to bring any builder down to earth over time.
Dear Nandama,
I wish to inform you that as per the email received from Purva today they don’i want to provide anything within the kitchen and the kitchen will be bare!
Whereas, within the layout received at the time of booking counter top with sink was shown in the kitchen along with all the sanitary wares within the toilets.
I think this builder is playing too much……..
Now, I am worried on what quality apartment one will be receiving. I have asked for minimum of granite counter top and ss sink with cold & hot water mixture along with bottle trap at the drainage outlet from the sink.
This is FYI,
Naik
Dear All,
Please advice me if this project, “Purva/SunFlower” is with Luxury Apartments or a low cost housing project! I am really surprised by their statement that Kitchen will be bare without any sink, counter top for working etc. Only a general statement has been made stating that sufficient electrical & water supply points will be provided.
Does this mean we will start chipping walls & floors for running the missing services?
Even the minimum amenities have not been listed………..
Does any one know about latest Purva standards or could name any of the projects recently completed to assess their quality of works?
I am really tired of interacting with them on mails and have lost trust with them.
Did everyone got the agreement , any surprise in clauses.
I have received the contract agreements for sign off. I have two major observations:
1. I thought the total payment terms are based on progress in construction. However, payment terms mentioned in sales agreement is time based from date of booking………… That means even if the construction is delayed are we supposed to continue making the payments to the builder?
2. There is no penalty clause to the builder if the construction is delayed…………I thought they are bound to complete the project in time though the start up is delayed. Again, I presume construction/excavation may start only after monsoon season is over. Or they may link the start date with the date of getting excavation permit from the authorities. Hence, I foresee minimum of 6 months delay from day 1…..
If any other member has observed something more or contrary to the above please let me know.
Thanks,
Naik
Majority of recent Puravankara projects that they have been constructing have had a delay of minimum 1 year to 3 years, and you need to consider that in your finance planning. Unable to name any that they have completed in time, but they have completed all projects undertaken. You will not get any penalty from them and the Agreement that you are signing is just for them to bind you contractually and there is nothing in for you to have any say. In fact it is the same majority of the builders. You need to abide by their Agreement, they will only abide by giving you the completed flat at their convenience. No doubt at the end of 5 to 7 years based on the project area and size, you can rest be assured, the project will get completed and handed over to you when you pay the complete amount demanded by them.
After you get the property post 5 to 7 years, your property would have appreciated and you will be happy with that and will forget the past years.
The Completed projects of theirs are of good quality and will fetch you good appreciation.
Their only problem is the delay a major negative in them. Penalty or no penalty, they have not been able to achieve an on time delivery.
San
Dear San,
If the project completion takes 5 to 7 years then it may not be worth investing with such builders and properties under construction. With inflation of Rupee with Dollar we have already lost more than 15% after booking of this property in March 2013. And I fore see maximum of doubling our investment after so many years of waiting with such high risk. That means am I right in concluding that such properties are not meant for investment?
In that case I shall try to dispose off the booked property asap…………….and buy out right with cash payment when it is really ready physically.
Is there any buyer? I have made 25% payment as on date and at any best available rate I shall transfer it immediately.
Thanks for your feed back San.
Naik
@ Naik..dear sir, i dont agree that the project wil ltake 5 to 7 years, the major reason being the project is just a 2.3 acre project and not 8 or 10 acres. The other reason for being sure tht the project will gain pace is the revision in price..from a pre launch of 6490 its been revised to 8625…the builders definetly would have a planned strategy target for their funding, so a increase in price means things are surely getting materialsed. For any project a investor has to be prepared for a 3 year time frame i assume. And the sooner we book o buy is in our interest considering if its a reputed project then 90 percent chances r, what will be delivered is as per the promise even though there may be a delay, on the other hand consider a price like 12000 or near about on completion…finally buyers call, just my view. Some projects dont deliver what is promised too…so its a dicy call
Dear Ravi,
It is not only question of delay in completing the project in time. When I had booked the flat in March 2013 the payment terms were agreed against progress in construction. Not only San’s comment on delay being caused by Purva on many of the running projects, when I received the contract agreement few days back they have changed the payment terms to time based. If they don’t honor the commitment made during booking then it gives a room to doubt about their capability to complete the project in time. Not only this, how do you prevent them from diverting the funds to some other project once most of the collection is made and not bother about this project? Only because the payment terms were against construction I had booked this one and I don’t have any previous experience with Purva. If it was 20- 80 payment terms then I would have not bothered much because the EMI starts from the date of possession and our contribution would have been only 20% of the total cost till project hand over. And even if we dispose off at the time of possession we would have made substantial profit on only 20% investment.
Finally, it is a question of trust you develop with a builder. Let me see if they deviate from their initial commitment made at the time of booking.
Thanks for our advice,
Naik
sir even as per construction plan you would have been makin payment in slabs , so basically you would be paying a pre emi, this is what i was thinking as from owners share the risk reward was better as when i calculated there was a diff of around 45 lac , which is really big….anycase whats the amount u have paid as down payment, i mean whats the 25 % that you paid and whats the offer your willing to give it for, i an chk with some friend and let you know if they r interested
Dear Ravi,
As I understood recently the price has been revised to Rs 8425/sq ft. Anything less than this with same conditions of the builder as if some one is going to book an apartment with the builder if the price rise is a genuine one and reasonable as an appreciation on our investment to suit the market conditions. All other charges like 4% penalty on Rs 8425/sq ft for transfer of name etc will be paid by me. If it is less than Rs 8425/ only some one may come to us, otherwise he may go with the builder, Isn’t it?
Now Purva has agreed for all payments to be linked to the construction and not based on time.
Dear Ravi,
Do you have any experience on dealing with Purva before? It is already five months over since I booked and the agreement is not in place! I have not heard anything officially on launching of this project or start on excavation though they have claimed 25% of the payment.
Dear San,
Do you have the list of recent completed projects by Purva?
I would like to see their quality of work and minimum amenities offered as per their general standards. There is no point in comparing them with Sobha or Prestige since each one of them is unique in their quality and pricing.
From Sobha I had received a SS Sink and granite top with proper supports for working along with extract fan and all the electrical and water points for water heater, RO Plant, fridge, mixer, cooking range etc along with a proper door for the kitchen as a luxury apartment. These were clearly shown in the layout plan and specs were quite clear. Whereas, with Purva most of the things are left open for imagination and when questions are raised on a specific requirement they say it is not included in their standard offer.
Without a physical mockup or a layout plan with clear specs how do we define on the quality & deliverables?
Do you have any recent experience with this builder say less than 3 years? What they were following before(for >10 years) seems to have been superseded now.
hi shika
i am prakash and own a 3bhk flat at sunflower… there is a need to pressurise the builder to speeden up work for which we need to approach the builder…pl share ur cell number so that we can form a whatsapp group and share our concern…
prakash
9448270555
Hi members, after going through the construction linked plan i have just made few observations. I would like to explain the same with a brief example.
Presently the price quoted is Rs 8600 rs per sq ft. So lets say some one is buying a 2bhk 1200 sq ft. The value on calculation is 8600*1200 = 10320000 . As per the construction linked plan you pay 25 % of this value with in 30 days from date of booking, the amount is 25,80,000. And then you pay another 5 % on commecnment of excavation and 5% on commencement of foundation. This means you will be payin 25 % in one month and atleast another 5 to 10 percent in the very next few months.
The 2nd option is in which i have said a 50 % down payment at a price of 5800. This translates to around 35,00,000. So this means your paying about 5 lac more initially and by paying balance 35,00000 in 3 months you save around 40, 00,000 on the buying price. So the diff is clear i guess either u pay 40 lac more as per construction linked plan or either you save that 40 lac by paying earlier. If any member has a query you can mail me at . Thanks all
hi , can anyone please share the break up for the consturction linked payment plan, i was checking a emi calculator so just need to compare, trying to make a chart to compare a few investment modules , thank you
If some one has a break up for the plan kindly mail it to me at thank you
Dear Harsha,
I was told by the Company representative that this project has now been officially launched at a basic price of Rs.8750. Is it true?
i heard its 8500 if im not wrong but im not completly sure, i have 3 units on offer here for 5800 if anyone is interested
Is it at the same terms you have mentioned I.e. pay 50% now or is it regular construction linked plan. A friend of mine is looking for it but 8500 is way out of budget.
@shiksa, the terms are the same as i mentioned, for any discussion you can mail me at , thank you.
I know the time for payment is short but the gain is good as the price has been revised now, you can let me know what payment plan ur friend is looking for , in case i can work some thing out i surely will let you know, thanks again for ur reply
Is it from Purva or some one else? Who will be making the agreement??? It may be bit risky wh
Yes pls tell who will be getting the payment, also would banks be able to provide loa on such agreement terms. Of course security of funds is priority over discounted rates.
@moderator thanks for letting us have a discussion
@naik, shiksa,
The offer is from the owners share, the agreement will be with PURVA, as far as safety is concerned it is 100 % safe as we can even register the property in the buyers name once the complete payment is made. 3 years time frame is not under out control , and delivery of project depends on Purva. Even if we book as per construction linked payment it finally depends on delivery by builder, Going by Purva reputation i think its safe hope you agree on that. There are two simple ways to look at it…we book currently at 8500 and pay as per construction plan, we wait for project to be ready and buy that time at prevaling rate, assume wil be around 11000 atleast by then, and the last being we pay upfront and book at 5600 , 5800. Regarding bank loan i need to check, Thanks all for ur views. Its nice to discuss and get other views.
Suppose I take loan from a bank and make 100% payment.My EMI will start from day one without even getting any revenue from the investment.we may have to offset this additional burden for three years or more as against small EMI against construction linked payment.is it worth buying the property with 100% down payment at 5800 IR /sqft as against 8500 IR /sqft construction linked payment plan considering the present inflation in India.?
Yes if some one is taking a 100% loan then this offer is not adviced but for investors who have their capital , or say a person like me who has a capitol of 40 lacs and need to take rest from bank , then the rate of interest tht i will end up paying for the loan will be offset by the gain i make. Let me assume that i will sell this property after a year, just hypothetical view from my side, im asssuming a rate of 9000 rs after a year. So i make a profit of 3200 per sq feet plus , if i even assume the same rate of 8600, even then i make 2800 which percentage wise is good return for a period of one year. This is just my view rest investors will decide on thier own. Better workin can be provided from some one who can calculate and illustrate the pay out with interest on a excel sheet,will try and do it if i can. Thank you
Hi There,
I have made 25% payment as on date. I would like to dispose off my booking asap before signing of the agreement. What will be the best rate available in the market now?
And if there is any ready made flat available, I am ready to buy with 100% payment since Dollar is at the best now.
Hi,
Do you still have the units for 5880?? If so which are the units? Please send me your number??
Thanks and Regards,
Channabasava
i was interested in buying a flat here too, have got an offer for 5600 rs but payment is to be made in 6 months, kindly guide me , i intend to buy and sell it in 3 to 4 years, is it worth ?
Don’t think it is a genuine deal. The builder price is 8500 base + floor rise + premium charges. If you think the seller I’d genuine just pay and close the deal. You are making more than 60% profit on the day of your deal.
the deal is genuine and the seller is genuine too, the terms are that i pay 50 % as down payment and the balance 50 % is to be paid after say 5 or 6 months .My confusion is that i will be paying complete amount in 6 months after which i wil have to wait for atleast 2 years or so to resell the same and taking the interest factor into account will i get good returns. I am not looking at the 8500 being quoted but im trying to figure what price will prevail after 2 years say if i sell it in 2015 mid or end .
It is a good deal is all I can say. After 3 years the price could be anywhere around 12000. That is my expectation.
thank you for your reply, i guess i should go ahead with it
Please note that the flat may not be of Luxury type like their previous projects and one may have to spend a lot to make it Luxury at a later date………..It seems Kitchen is only shell & core! (bare)
I am ready to sell at Rs 8,000/ per sq ft right now if there are any takers…………….
This offer may not be from the builder…………….May be from the owner’s share!!!!!!!!! By the way who will buy with 100% payment???????
@naik and other members, i would like to know if i can take a loan for the said flat, if i pay 50 % down payment ,then what is the procedure to take a loan for the remaining amount, also would like to know what kind of agreement i need to make so that i can contact a bank for loan, thanks
Dear Ravi,
If the documents are clear and if some of the Bankers have already approved the project for mortgage loan then it may be quite easy for you to apply for the loan from those institutions only subject to your capability to repay the loan within a stipulated period.
Loan amount sanctioned may depend on your present earnings and the age. 50% mortgage loan should not be a major problem if you meet the above two criteria.
Naik
@ naik, sir thank you very much for ur reply. Actually i found out that icici , hdfc, india bull etc have approved the project. I am elgible for a loan on basis of income. What i want to clarity on is if i buy from builder then thers no issue, if i buy from owners share as they have offered above, what will be the difference as payment is to be made in 6 months, that is 50 % payment, means 50 % amount that is about 35 lac as loan…..plz guid me senior members, thank you again sir
Dear Ravi,
With the owner’s share if you are signing the agreement with the builder I don’t see there is any major risk except on the project completion date since you would have paid 100% to the owner as against payment against progress in building construction.
For some reasons if the project is delayed you may lose on the returns on advance investment made to the owner.
For eg take a worst case of a 2nd floor slab collapse during construction which had actually happened in one of the Prestige’s projects namely Shntiniketan which may be beyond any one’s control and may delay the completion of the project. In this case as against others losing on small investment you may lose on 100% investment!!!!!!
Of course this may be a remote chance but risk is always there. Hence, I either recommend progressive payment against progress or a reday made flat.
Pls think over it…………..
Naik
dear sir thank you once again for your prompt reply and guidance. Was very valuable to me.Will think over the pros and cons and decide soon.
You mean complete payment ? since the project will take atleast 3 years to complete. 5600 is a good price since the builder is now Quoting 8500
What is the guarantee that the project will be completed in 3 years time since it has not started only?
sir i dont know about completion but would like to inform u that excavation work has begun
How could one start with excavation when the agreements are not in place? They have yet to collect another 10% payment after signing of the agreement which was supposed to happen within 30 days of booking! When the start date is not known how could you derive the completion date? More you delay on start date completion also will be delayed indefinitely!
Has anyone signed the agreement yet? Although I have not been to the physical site to verify whether excavation work has begun or not, I would not link that work to signing of agreement by buyers. 35% of the total units is for the joint owners who sold the land to purva. As per the joint development agreement purva has to complete the construction before end of December 2015 (within 3 years from the date of sanction approval). Otherwise they will have to pay huge sum of money as penalty every month.
Fine,
If Purva agrees to insert a clause on penalty for the delayed completion then I don’t see any problem. Let me wait and check the agreement. If that was the case, as a builder they would have opted for time based payment to ensure that cash flow is smooth and would have collected most of the payment much early. Even if they insert a penalty clause that may be equivalent to monthly rent, say maxm of 3% per annum and may no where near to the return on investment or the interest we incur with the Bankers.
In the agreement documents received by me, I didn’t find any penalty clause being imposed on the builder for the delay in construction where as if we delay in making timely payments there is a penalty of 2% pm and if the payment is delayed for more than 2 months there is a liquidated damages of minimum15%…………
This appears to be a one sided contract……….
Dear All,
I have requested Purva to insert a penalty clause for late handing over of the project beyond 36 months and amend the payment plan as per the construction schedule so as to build up some trust with them since I am dealing with Purva for the first time and wanted to book some more from investment point.
If they don’t agree for this I may dispose off the already booked property. 25% payment has been made as on date.
In the mean time please let me know if the best offer is available from any one for my review.
Thanks,
Naik
Hi There,
This is to inform that Purva is not agreeing to insert a penalty clause on late handover. That means it is a one sided contract when there is a penalty of 2% pm for late payment along with liquidated damages of minimum 15% if the payment is delayed for some reasons beyond 2 months.
Therefore, I have decided to dispose off the booked apartment asap and try to buy a ready made one. Please let me know if there is a buyer with best available offer as against builder’s current selling price. I shall bear the name change penalty of 4% being imposed by Purva on their current quoted price.
Hitesh,
Do you mean to say they will start with excavation without raising any invoice for 5% payment? You must be joking. This builder is only after collection of funds leave alone agreements in place and the progress in construction.
Hi There,
I understood from Puravankara that if you are buying with 100% cash payment to the builder within six months you will be signing the contract with the owners and not with the builder since this rate may be applicable with the owners share. And if the construction is delayed there is no compensation clause inserted by the builder. Hence, I foresee a substantial delay since the excavation has not commenced yet!!! And due to monsoon it may start late……….
I don’t see much discussion about this project on any website forum? Is there any specific reason for this lacklustre response? Is it because the price is too steep for the majority of the active boarders? Does anyone have any update regarding the latest pricing for 3BHK and expected date of launch?
Hi,
Booked a flat in Purva sunflower. Anyone else who might have booked can join purvasunflower@googlegroups. to discuss concerns going forward
Hi Shikha,
I have also booked the flat in purva Sunflower. I am unable to find the group Purvasunflower @googlegroups.
Request you to invite me to the same at my id .
Thanks
Shikha, what price did you finalize it for?
6490/sq ft
Hello Shikha, keen to join the group. send me a mail at
Sunil
We can all join on common floor. It is managed better. I have already joined.
i have brought a 3 bhk flat …i have some concerns which i want to share about the design
please share ur views so tht valuable inputs from other members can be taken into account
Looks like this madness in price rise may stabilize. people are buying less and realtors are defaulting
http://economictimes.indiatimes.com/markets/real-estate/news/bangalore-based-century-realtys-debenture-default-triggers-panic-in-sector/articleshow/18231618.cms
It is going to be 6450 for pre-launch. Huge demand for this Purva Sunflower project.
Now prestige is pure launching prestige Westwood near this. Magadi road seems to be booming.
Eta gardens project is already on magadi road with 900 apartments and many lying vacant. World class amenities but not good price appreciation or rentals
Is it worth investing in this project. I don’t know about this area(never been this side) for from the location it looks very promising
Hi,
I heard today that purvasunflower rates have gone up …8500/Sq.Ft..is that true?
prelaunch expected price of around 5200 rupees from the sales guy
I was contacted my Allcheckdeals and they said prelaunch price would be at Rs.4500. Next day she calls and says it is Rs.6000 because Phoenix Bangalore 1 is also around Rs.6000 plus, so this projects will be Rs.6000+ during launch.
Any thing above 5000 is very much because u cant come with Phoenix Bangalore becuase its in typicall rajajinagr and this current project is in magadi road next to rajajinagar but not rajajinagar and more over why u wana buy this project when ur geting ETA star which really beautifull and redy to accupy
I agree. Now prestige launched Westwood on Magadi road…they say starting 6500.