The property arm of a well known Household and Consumer brand (name had to be removed on request) is expected to launch their new residential apartment project on Whitefield Main Road opposite Brigade Metropolis en-route to ITPL. The high rise residential project spread across ~ 8 acres will offer apartments in 2, 2.5, 3 & 4 BHK configurations including pent houses. Earlier in May 2013 the property group had entered into an agreement to develop the property belonging to United Oxygen Private Limited.

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Location

Opposite Brigade Metropolis, between Decathlon and Bhoruka Tech Park

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Price

As of Feb 17th 2014, Rs. 4999/- special launch price valid for first few bookings only
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407 Responses

  1. Finally it is confirmed that the project will not be approved in current state and it will have to keep reserve space for the Metro.
    Total waste of investment for more than 1 year and even 17 floor permission is also a concern. Booking was done till 9th floor or so.

    1. ppl dont do risk assessment and overpay neglecting the risks,because they expect more and more growth on top of existing price.

        1. @Gautam what is the source of your information I am a buyer of Godrej united and want to ask from where are you getting these information.

        2. How does future of this project matters? Investors of this project are already became rich, on papers. Isn’t that enough?

          1. @pranay @R @Rajesh A ..Hey you can check with the sales office sitting there in Godrej United, they are now disclosing that the roads will be widened and if you want you can visit the Lavelle road branch also to get more insight. The information is now open and accurate.

    2. Metro is in news from more than 3 years now. I am sure those who booked, must have factored this before decision making.
      BDA may increase FAR and give some compensation to the land owner. Net net in worst scenario it may reduce the undivided land share of owners.
      Good if owners can push builder to compensate for same (highly unlikely)

    3. Dear Mr. Gautham,

      There is no impact on the residential development of the project due to proposed Bangalore Metro Rail Corporation Limited (BMRCL) work. We request you to please share your contact coordinates with us on . We will be happy to resolve any query or concern that you may have on Godrej United.
      We also request you to refrain from posting unverified information that could mislead the patrons of this forum. Godrej Properties believes in a relationship based on trust with its customers, and we look forward to assisting them in their home-buying process.

      Regards,
      Godrej Properties Limited

      1. @godrej properties limited Please dont deny that roads are not to be widened. I am not sure how your residential and future development is composed and divided. I am 100% known that roads will be widened. Also rather than posting to webmaster why dont you tell me here why you guys are not getting approval and you have delayed the project from feb 2014 till now in pre-launch phase.

      2. Dear Godrej Property team, I must say your response is hilarious – the project has not yet been officially launched, the construction work is progressing at a snail’s pace (if not stalled), all approvals are not in place and you mention that there is no impact to the residential project. Yes, there may not be any impact to your profits, but there is a definitely a negative impact on the customers with the various delays !

      3. “There is no impact on the residential development of the project due to proposed Bangalore Metro Rail Corporation Limited (BMRCL) work. ”
        Does it mean the proposed commercial area is impacted?

    1. @Prashant, I was thinking the same today after reading TOI. So it is quite possible that industries have to move out, there will be a petition in the courts for years to come and after that we can see the final outcome. Also there will be a land surplus as forest department will give away some of the land as it is urbanized as such due to industrialization. Immediate effect would be price will come down particularly in kadugodi.

      Above all there will less truck movement from hoodi circle towards city …( whitefield main road leading KR puram etc)

    2. This is the more recent communication that I received from “reputed” Godrej united properties:

      Greetings from Godrej Properties!

      We have been working very closely with the authorities on updating certain supporting documents, required by the officials to release our approvals for the project launch.

      Given that this prime piece of real estate was purchased years ago, it has taken time for the concerned public administrative offices to update these old records. Further we were not made aware, at the onset, of certain conditional updates specific to the conversion of the land to Residential status. Hence, these procedural challenges have set us back a few months.

      However, please be assured that the updating of old records is only a procedural requirement. While BDA has cleared our Development Plan in Jan 2014 and issued the Demand Notice in March 2014 (Uploaded on our website), the clearance was contingent on updating these supporting documents. While we have completed those formalities, a final consent from the Tahsildar’s office and the land records office is received. The file is pending approval in the Deputy Commissioner’s office and we are confident of receiving clearance and releasing the development plan in the coming few weeks.

      We would like to reassure you and highlight that most of the other approvals required for commencement of construction have been obtained several months ago. Also several leading banks have given us legal clearance for home loans (Uploaded on our website).The mass excavation of the site has also started in full swing, and this activity will help compensate towards the timely delivery of the project.

      Once again, we thank you for your patience and for your continued patronage at Godrej United. We are grateful to every one of you for the overwhelming sales in the project and as an organization we strive to safeguard the interests of all our customers and stakeholders, and believe in complete transparency.

      Should you have any query or require any assistance, please feel free to get in touch with our personnel as indicated below.

      Ms Kamala, Sr Manager, Customer Care
      or

      Ms Sunaina Kohli, Sr General Manager, Sales & Marketing

      We wish you a great week ahead!

      Regards,
      Godrej Properties Team

  2. Dear Team Godrej,

    Will you pay penalty to your buyers for this delay?
    Though the agreement is not yet done but still you know it well that the buyers are at loss of rental due to inordinate delay.

    Being an ethical company are you ready to compensate for the delay or leave your buyers/investors like other 3rd class builders who only care for minting money?

    Kumar

    1. builders collect the interest free money to pay the land owners share..but the land owner might be asking more..so discussion might be happening with the land owner..

      since this is a listed company..would suggest everyone to raise the issue with SEBI..for delisting from the market..they cannot show the amount collected in the accounts are revenue generated..

      also file a case in consumer court for speedy response

  3. It is exactly one year since Godrej “Pre-launched” this property. Till date they do not have a firm date when they will have all the approvals and project will be launched formally. Much smaller builders are much better than this so called “Tier 1” builder.

    1. @Amit

      How does it matter? One more ad. in TOI, and prices go up by Rs 200 per.sqft.

      That fine morning, all the stake holders get rich by few more lakhs. Why do want approvals and a formal launch of the project. They are all unnecessary formalities.

      Investors are more interested in price appreciation and not in what’s on the ground.

      1. launch got stopped because of the upcoming metro work..the place is going to be another hell till the metro work gets completed..be careful..

      2. Investors cannot build castles in thin air forever. They also need approvals to be through and construction to be started to exit and make money from this “investment”. For end users, they have paid interest free money to so called “Tier 1” builder without any commitment.

        So called “Tier 1” builder is laughing all the way to the bank.

        1. @Amit

          >>>>They also need approvals to be through and construction to be started to exit and make money from this “investment”.

          Ahhaa. I agree with you. But please understand, as long as the property is “appreciating”, why would anyone like to sell it? Is this not the very wave of price appreciation that every investor wanted to ride and for which they are into the game?

          Property prices appreciate the most between pre-launh and formal-launch. If pre-launch gets extended, it only means more appreciation. If you are an investor, why to demand a formal launch? Just be happy seeing full page TOI ads. announcing new rates. If anything, such ad. makes the day for the investors. Being “rich” by few more lakhs, they immediately “start felling lucky and proud” about their investments. Raising the toast that evening, they tell their friends: Didn’t I tell you: “Manjushree”—that gadfly on HarshaSagar—was damn wrong.

          And then a point arrives, when there is nothing on the ground but the prices are already sky-high. New investors–and home-buyers–don’t turn up as often. At this point, builder needs something on the ground to justify further SPECULATION. They bring about some govt. approvals or starts digging the mud. Obviously, such “ground work” is done only when there is a need to bolster further speculation and to lure in new customers. Otherwise, no one minds.

          This cycle goes on and on for 2-3 years. Prices go flat at this point and you don’t see as many ads. Investors now decide make the cut and book profit. They list their “investments” at Rs 100 per sq. ft. less than the builder’s current selling price. After few months of hard search and bargain, they realize how difficult it is to exit even after doling out a discount of Rs 500. Only buyers they find are the ones who are ready to buy only at the price points at which they themselves entered.

          But for these investors, after adding borrowing cost (interest part of the EMI) and the opportunity cost, the actual cost of ownership stands at least at 20% more than the price at which they entered. How can they sell for a 20% loss? So, they keep on holding on to these “bad ester eggs”, hoping some day market will improve and they will get a buyer. Will they?

          With a glut of unsold inventory, only time will tell, who makes the real money.

          1. @Manjushree, I understand market dynamics – but I put money for end use hence my discomfort for delay in getting the project getting started. For the same reason, I went with so called “Tier 1” builder.

    2. Godrej properties has one of the largest land banks in India. In Mumbai, no other builder has a larger land bank than them. They have very deep pockets and are smart enough, to not dip into the same and start a project. They will take money from investors/buyers and only start a project, which is absolutely fair thing to do.
      So hold on for some more time, and await the incentives like 80:20 schemes/ free summer holiday packages/ free modular kitchens etc, which will take them closer to their targets, and then ensure successful launch.

    3. Please be advised Godrej is NOT the builder of the project. They are only the development manager/branding partner. The builders are the owner of the land United Oxygen.

    4. I agree – pre-launch from Tier 1 builders are very risky. First of all, the money is blocked for a long time, and then when the project is finally launched, you do not get a choice of apartments. Had a bad experience with Brigade Lakefront, which was also in pre-launch for 1.5 years. Had to withdraw, since the units opened during launch was not matching requirements. On a positive note, Brigade promptly refunded the money with interest. Not sure why Godrej United is delayed – maybe some issues with profit sharing with United Oxygen or approval issues wrt project. There should be some law regarding pre-launch – it should be for a max of 6 months or so.

    5. It seems this project would shortly enter the record books as the longest in pre-launch…Builder might use this dubious distinction and hike the price further…! My straight question is this: Why is the Govt not demanding any answers from the Builder for the delay? What is the overall delay in the possession of this property? Would the builder compensate the buyers for this delay? Someone has to demand answers from the Builder…

      1. You are right. Projects which are pre-launched after Godrej completed 30% work.
        Did Godrej complete Excavation at least.
        Is there big rock in this area. I hear rock drilling sounds.
        Anyone saw what’s the status of construction.
        Agreement s started. How much % is collected till now, only booking amount or 20% for agreements?

  4. It has almost been a year since this project was pre-launched. I guess it is still in the pre launch stage. When will construction begin ? When are they going to get the approvals. What is the current price now

    1. @advait

      For these “renowned” builders, prices are no way related to construction.

      Prices depend on when they plan to put up a full page ad. in Times of India. And the price mentioned in that ad. immediately becomes the current price. This is how RE investments appreciates in today’s market, and this is how new money is generated in modern times.

      Imagine, with just an Ad., all the stake holders get rich by few more Lakhs. All these has nothing to do with construction, govt. approval or anything else.

      1. @Manjushree,

        I have been frequenting this site to read through your various comments.Your comments are always spot on. Echo my thoughts to the tee.

        Every time, I see unrelenting ads/bill boards with cheerful faces and tall claims, I shudder thinking if it is really only me who is put off and scared in pursuing them? And all others are doing so well that they can indulge in buying exorbitantly priced flats?

        But I am willing to play safe by staying away. There are other options to make money work.

        1. RE is not a good investment at alll.we will have maintence expenses whether we live or give it to rent…the yield is very less..so its better to avoid.

  5. Is this project still in prelaunch? What is the price for 3BHK. Is the per unit price for 3BHK same as that of 2BHK or do we get some discount on account of larger investment?

      1. Paddy@@ i have invested in one bhk at this project could please tell me seeing the development n the area will the prirce apprecaite to 7500 by 2016 end
        and how do you see the demand for one bhk for sale in whitefied

        1. Venky@ it is great investment the returns for one bhk will be excellent
          By 2016 end the expected price will be 6500 to 7000

          1. Venky@@ the demand for one bhk will be there since only brigade metropolis and Godrej have one bhk in this area
            With one bhk at Godrej at a premium luxury segment the demand for a one bhk will be very high
            Just relax and enjoy the return on the investment

  6. The way real estate market works is, even if the sales are down the builders will try to keep the prices up or atleast stable as long as possible for them. Its not like a stock market you will get immediate crash. They will start cutting prices when it becomes painfully obvious to them that the prices they quote they wont get in the years to come. Surely it will happen at some point in a bubble zone. In 2006 end , US real estate association declared that there was no bubble in US realty. What happened in a year?

    There is no safe asset that can give 30% returns year after year in the world. If yes, even google will invest in such assets rather than running a company

    1. Price will never come down until we have corruption..
      Its like chain..

      1. Govt people ask bribe for everything every time and they increase the value..
      2. Near property cooperator, MLA, Gunda ask builder to pay the money..

      So obviously builder will not pay fom his pocket…It will come from out pocket…

      I don’t want to demotivate anyone but this is the fact my point of view…

      Hope india future will improve at least my generation..

      1. One more thing about Godrej..

        When I enquired 2 BHK apt in united they said all are sold out…
        I was laughing, Still construction not started 2 bhk sold out..
        This is marketing tricks to sold out first old and highely prices apts and later 2 bhk with higher price which would easily sell it out becoz more demand..

        So advise pls don’t believe these marketing guys they make fool..

      2. @deepak

        Good thing about corruption is that it follows conventional economics of demand-and-supply. If RE demand is down, so will be the money demanded for corruption. Money paid—and incentives received in return—by corruption is mostly upfront, so no speculation there.

        However, for banks, they have Harvard educated GAMBLERS and tonnes of money to game the system. These guys can conjure up charts and graphs predicting another RE boom in the near future and thus justify current prices.

        By now you should know, when it comes to predicting the future, these GAMBLERS are no better than astrologers. But you are right: Prices will not come down immediately.

        This gamble will go on for quite some time.

    1. Dear Ashish,

      Greetings from Godrej Properties Limited!

      Thank you for your interest in Godrej United, Bengaluru.

      With regards to your query, we would like to inform you that the land belonging to Godrej United residential property is not on KIADB allotted land accordingly the revised policy does not affect us.

      Godrej Properties always believe in a relationship based on trust with our customers.

      Should you have any further query in making an informed decision please feel free to write to us on along with your contact details we shall be glad to assist you with the same.

      Regards,
      Godrej Properties Ltd.

  7. Got the following SMS from Godrej United:

    “This Diwali, book your dream home at Godrej United, Bengaluru and get 8 gm gift of Gold along with the special prelaunch price. Call 080-XXXXXXXX. T&C Apply”

    For the Last 2 days, received 5 such SMSes. Looks like they are still in prelaunch since a long time. Prelaunch till they get some bakras?

    For 8 gm of Gold, one has to invest 1+ Crore 🙂

    1. I guess Brigade is also attracting buyers with ‘golden’ offers ! Received an email for Brigade Meadows which promised Rs 50000 and Rs 75000 worth of gold for booking a 2bhk and 3 bhk resp. I guess these are signs of market slowing down – also, have observed that the so called reputed builders charge heavily but provide less carpet area. In these respects, maybe some non-so big builders could prove a good buy – spacious apartments in less price. What do you guys think? Of course, such builders need to be evaluated carefully before proceeding.

      1. If people are genuine and wanted to live happily..please go ahead and buy any property..you may negotiate a better deal

        If you think of investing and taking 50 % profits..then god only can help. Market is saturated and people will have lots of choices.

    2. Dear Vinay,

      Greetings from Godrej Properties Limited!

      Thank you for writing to us.

      As part of the special offerings during Diwali, we were running this limited period offer to make the home-buying experience during the festive season an even more memorable experience for our customers. To spread awareness about this benefit, we did send an SMS to people who had in the past enquired or evinced an interest in Godrej United.

      Should you have any query in the future, please feel free to write to us on our customer response team email along with your contact details.

      We will be present here to provide our assistance to your utmost satisfaction so that it will help you make an informed decision.

      Regards,
      Godrej Properties Ltd.

        1. I think the answer to the launch date is beyond anyone to answer – probably because the answer would not involve any general statements that are not backed by facts. Builders are not good at such areas.

          1. Dear Bikram & rhr,

            Greetings from Godrej Properties Limited!

            With regards to your query, we are pleased to inform you that we have received Environment Clearance Certificate from the Ministry of Environment & Forests and are confident that with this development, we would be receiving subsequent approvals to launch the project very soon.

            We are also delighted to announce that Godrej United has been awarded ‘IGBC Green Homes Pre-certified Gold’ by the Indian Green Building Council (IGBC). This certification demonstrates our intent to design and build a high performance residential building in accordance with IGBC Green Homes criteria.

            Should you have any further query in making an informed decision please feel free to write to us on along with your contact details we shall be glad to assist you with the same.

            Regards,
            Godrej Properties Ltd.

              1. Dear Amit,

                Greetings from Godrej Properties Limited!

                With regards to your query on approvals concerning Godrej United, please help us with your contact details on and we shall be glad to assist you with the same.

                We would also like to apprise you that all the documents pertaining to the approvals received so far for the project are available for viewing on our official project website under Download option .
                Godrej Properties always believe in a relationship based on trust with our customers.

                Regards,
                Godrej Properties Ltd

            1. Dear Godrej Properties team,
              Thanks for the response – it has proved my comment right. That builder community is unable to answer a straight forward question with a straight forward answer. The question was on launch date, instead of providing a date, the answer was on certifications received by the builder. With this pre-launch almost reaching 1 year, we are only concerned with the launch date…other details hold no meaning. With a price tag of Rs 6800 +, we expect this project to be the best. No great deal on that.

  8. New unit sales in Bangalore have slowed down 40%to 11,519 units in quarter ending June 2014 from 19,256 in quarter ending June 2013. This has led to increase in unsold inventory to 92,263 units which is nearly 24 months’ worth of unsold inventory

    Number of new unit launches has steadily come down in last few quarters in Bangalore registering only 9,746 units launched in quarter ending June 2014 compared to 26,469 units launched in quarter ending June 2013.

    So, with this, Bangalore already has 2 years stockpile of apartment units waiting to sell….

    Full report at:

    http://www.proptiger.com/blog/realty-check-performance-scorecard-of-bangalore-in-the-first-half-of-2014/

    1. hi All
      I have booked a 2.5 bhk in Godrej United, but i am now looking for exchanging it with a 3bhk. Is anyone interested in exchanging their 3bhk with a 2.5 bhk. please let me know.
      Rohini

  9. I feel property is the biggest CON game played out throughout India. Things were not this crazy 10 years back. Now everybody thinks they can double money in 3 years through plots and flats.We have many TV channels running to spread hype.Before an IT park comes and an engineer gets his first paycheck before working in it, prices are escalated to the roof so that even engineer working in IT park will look poorer. This frenzy is seen in small towns all over India in past 10 years. Flats depreciate over the years. May be, 1 out 10 ppl looking for older flats say 10 years or 20 yrs old. So everyone wants to sell after 4 years-7 years. How many can succeed?This is a CON game.You buy, not to live,not for rental values, but get an idiot paying an extraordinarily high cost to buy from you. Salary of people certainly not risen 5-10 times in the past,as property has done.

    1. Casino mentality has plagued the real estate market. After spending stupendous amount of money in advertisements and other gimmicks, builder are ultimately creating hype to support the exorbitant prices. Obviously, after spending so much, they compromise on quality, project deadlines, amenities and floor plans. And at the end, the investor gets a match box costing him over a crore. But the investor is hardly bothered, as he is convinced that, riding on this hype, it should be easy enough to find a fool who will be more than willing to buy his property at an even higher price. And that’s the reason, in a A-Grade builder project, more than 80% buyers are investors, willing to gamble in a bid to make quick gains.

      The point to think is that: if there were not many end users at lesser price, how can you expect them when the prices are hiked. It should take years to justify that high price for the end users to show up. And, that’s the reason, we see so many unsold properties all over up for sale. These properties are not even generating rental incomes. As a 10 years old project, Prestige Shantiniketan is a good example of this phenomena, where even today, 450 odd flats are up for sale and 580 available for rent. Check the latest numbers at:

      http://www.commonfloor.com/prestige-shantiniketan-bangalore/povp-s6yjsx

      But there is more to this INVESTMENT story. As bala rightly pointed out, apartments deteriorate and, for that reason, there are hardly any end user who is looking for a property older than 10 years. So, the investors are in a pressure to sell it in 4 to 7 years time. But until they sell, they are losing out big time. Read my related post on this topic. Find here:

      http://harshasagar.com/2014/02/17/godrej-whitefield-road/comment-page-1/#comment-28563

      As these investors BLEED, the pressure is building up. There are many properties which are older than 4 years and investors are trying hard to sell. Now, as these properties get older and deteriorate, and more “investors” join this party, RE market WILL collapse. When will it happen … we don’t know yet. Nobody does. But, that’s inevitable considering that, going forward, IT pay hikes are not going to match the real estate demands. IT is facing substantial consolidation, with demands mostly flat. Major pay and job cuts are forthcoming. And as it rolls out, these investors will be in a frenzy to sell. Prices will collapse then ….

      But than, it’s a gamble. It’s OK to lose …

      1. Manju, I am not sure why you are so much against the property market. I see that probably you dont know much about Prestige Shantiniketan. The reason 450 flats are up for sale is that land owner had 8 towers in the project and each tower has around 144 flats. He is not in rush to sell his flats. He opens one tower at a time and opens 2nd tower once he has sold30-40% in the first. He doesnt negotiate much, may be a couple of lacks at the most. Still he sells around 4 flats per week. I gave him an offer to buy 5 flats at once and asked for 10 lacks Rs discount on each flat. He refused.

        About rent: People post their ads on internal group and within hours their flats are taken. What you see on property websites are duplicate listings, unrealistic rent expectations etc.

        Have you ever even invested anything in RE. If you dont want to invest, why wasting your time here???

        I think your intentions are right, since you want to highlight the risk of leveraged investment, but your facts aint right.

        Please do a proper homework before you talk about a specific project or property.

        I wrote about PSN because I live here. Last time my flat was taken up on rent in 4 hours without the help of any broker.

        1. If the commonfloor rents are unrealistic, then what is the realistic rent in PSN. Just wanted to know since I am looking for a flat for rent.

        2. Thanks for the info.

          Would you know how many units the owner is left with currently? Even if I assume it to be 100, will he post 100 listings in the commonfloor, considering that “He is not in rush to sell his flats.” ??

          Or is it that there are more investor listings in commonfloor than the owner’s, in which case there are more flats up for sale than evident from commonfloor?

          Considering that there are currently 570 units up for rent, some of them are obviously unrealistic expectations; owners reluctant to listen to market realities.

          BTW, is the owner paying maintenance for ALL his units, because it has direct bearing to the upkeep of the project?

  10. I live in mumbai and am interested to book a flat in Godrej united based on feedback I got from my relatives living in Bangalore.
    What is the current price and availability in phase 1 and newly launched phase2?

    1. Taking cue for builders quoted distances in advertisements, Godrej United is actually not far away from Mumabi, just 1 hr 10 mins*

      *on a regular jet airways flight and not considering delays 🙂

    1. As I understand from the Marketing person, most of the flats are sold out when the launched it at 5000 per sqft. They immediately revised it to 5400, then 5600 and now 5850. Builder is in no mood to sell remaining units any time soon. Just looking for BAKRAS to make a handsome return.

      1. They will get BAKRAS. Real estate investors have seen enormous growth in past 20 years. So they believe it will go up forever. These people will bet on a 100 yr old person , to live another 100 years.He has already proved the mettle right?

      2. Dear Manjushree,

        Greetings from Godrej Properties.

        We have recently come across the posts here and hence thought of addressing these.

        While we understand your concern, you would appreciate that the prices are bound to increase on achieving set milestones based on the revenue strategy of any business and the micro-environment conditions. It has always been our endeavor to communicate this to customers in a prompt and transparent manner.

        For any further queries on Godrej United, we request you & all members to send your complete query to our customer response team email along with your contact details and help us to assist you in a better way.

        Regards,
        Godrej Properties Limited

        1. If farmers say, you can pre-book rice/wheat during plouging phase at 40Rs per kg, price will increase at every milestone and during harvest 300 Rs per kg, no one can feed their kids in this country. I am trying to see which product is sold , even before its completed other than flats and what risks flat owners are taking on their own.

  11. I feel premium builders charge rediculously high amount .80L-90L for 2BHK in India? Looks like even in US you can purchase houses for this amount.

    1. Population density of India is 10 times that of US 🙂
      Considering comparable regions in India/USA from respective standards:
      For same amount of land in we have 10 times more buyers in India 🙁

      1. But do they have means to pay for it?

        This is analogous to following situation:

        If I go to a poor village to sell a diamond, there will be many who would like to own it. But not many will have means to buy it. Will the diamond sell at the same price as it sells in big cities?

        1. I got it @ 5600 rate. i think its a good price for that area, even c grade builders are asking for 4000 rate !!!.
          No tier A property is available less than 5.5k rate.
          One of the best mall is at walkable distance. i am sure by the time it gets ready prices would be double.

          1. I think its a very reasonable price from godrej, U can expect a reasonable appreciation may be 7000 -7500 at completion at least. For end use its perfect choice.
            Investment its a decent deal, grade C builders are going at 3100 psqft. Grade B going at 3850 – 4000 psqft. So godrej at 5600 is very reasonable. U enjoy a great bend value and a premium location , y u want to give it to some one …:)

          2. Do you math:

            For 1Cr Fixed deposit, you can easily earn 60K per month (after taxes). Will you find anybody to rent your house at that price?

            On top of it, you have taken bank loan, you will end up paying 1Cr as interest to the Bank. How long will it take to recover 1Cr if you get a rent of say 40K (impossible though): 21 years!!!

            And you though, you can sell a 21 year old property at 3Cr????

            1. Your are confused!
              You are talking of I cr in a fixed deposit and then talking of a loan. If I have I cr then why will I take a loan.
              Considering your theory of I cr in a fixed (which I will never put ) which will give your 60k per month and the property will fetch you a rent of 30k not 40 k

              1 cr in fixed will become approx. 2 cr in 10 years cumulative if the rate of interest is kept same.
              1cr apartment will fetch you approx. 50 lakhs in 10 years as rent, again keeping the rent same and adding the same interest to the rental income.
              The average rate of Inflation in India is 8%for the last decade If we take the same for the next 10 years too. The apartment will cost 2.14 cr after 10 years
              The currency can also depreciate to a average of 15% over the next 10 years
              which will take the cost of the apartment to 2.29cr
              Adding the Rent of 50 lakhs to this will make it 2.79cr
              The apartment cost will keep in pace with the inflation of the country. The FD Capital will always loose value over a period since it is in INR.
              And don’t compare India with US where the average inflation is just 2%
              Also what you earn today is not what you will earn after 10 years. I may be wrong people can take informed decision see the past act in the present for a better tomorrow.
              Todays Value will look big today and small over a decade. After a year people repent for what they did not do then.

              In PSN when it was launched 2000 sqft apartment was available for 40 lakhs, Today it is more than a crore. Then If you had put that 40lakhs in an FD what will that earn for you after 10 years you can calculate and see for yourself.

              If you are not an investor and going for your own use you have to buy according to your budget, requirement, and place. If you are brand conscious you will have to pay the premium. Don’t complain it is useless. Look for other options.

              San

              san

              1. Not only am I confused but also shocked by looking at how existing “investors” are BLEEDING every day and the new, gullible ones are getting SLAUGHTERED in the name of “investment” by these shrewd builders. Not so much confused with my calculations though. Read on…

                I have already explained this in terms of “opportunity cost” in one of my earlier posts. Find here:

                http://harshasagar.com/2014/02/17/godrej-whitefield-road/comment-page-1/#comment-28517

                Let me try to explain the same thing from a different perspective, so that it becomes easy to understand.

                Math time:
                ————–

                Say you want to make money by investing into something and you don’t have 1Cr cash in hand. Obviously, you approach a bank and take a loan, committing an interest of 72K per month (actually higher). At that point, as an INVESTOR, you MUST make 2 promises to yourself:

                1) That I will make at least 72K out this capital to cover up the interest cost.

                2) And that, I will never let my capital (of 1cr) to sit idle and try to make SOME amount after paying the interest. After all, anything above 72K is your profit and that’s why you are taking all this pain.

                Both the points look obvious this far. What is not obvious is the MINIMUM amount you MUST be making in return of all the risk and pain you are taking. Now, how to calculate this minimum amount, or minimum profit to make this investment worthwhile? Let’s take a step back.

                With 1Cr in hand, you have the option of investing it in hundreds of places. You may like to start a business with that capital. One of the options is to invest it in Real Estate. And the LAST and WORST of all the investment options will be to put this capital into an FD, earning an ASSURED income of 60K per month. So, in calculating our MINIMUM profit, this assured FD income of 60K is helpful, because this is the minimum GUARANTEED amount you will be anyway making by doing nothing. Obviously, your newly acquired capital MUST be making at least 60K per month (on top of 72K interest) to beat the profit from a lame FD. Anything more than 60K is worth the risk and pain you are taking.

                Add 8K per month of maintenance cost for the apartment. So turns out, you should be making at least (72 + 60 + 8K) = 1.4L per month to make your investment worthwhile. Is this happening?

                Ask yourself: Are you able to rent this apartment for 60K and will your apartment cost increase by (72*12) = 8.64 Lakhs per annum? If yes, only then you are making a PROFIT. You are a savvy investor in real terms. (I have not even included the TAX implications on selling your flat though)

                Now, to conclude, in this stagnant market, Existing investors who are HOLDING on to their apartments worth 1Cr, and, are not even able to rent it for 40K, are actually BLEEDING at the rate of 1.4L per month!!!

                Regarding your point about inflation of 8%, that’s applicable only on the INPUT cost, which I have calculated as maximum of INR 2000 per sqft. Read my post:

                http://harshasagar.com/2014/08/10/purva-270-degree/comment-page-1/#comment-28463

                Beyond 2000 per sq.ft, it’s HYPE, and you will agree that HYPE is not a component when calculating inflation numbers. So, with 10% inflation, prices must go up by 200 per sq.ft. per annum. HYPE is used to absorb the shock when RE market crashes. This HYPE part will diminish then.

                Your point of currency deprecation is irrelevant, as both FD and apartment unit is in Rupee terms. Also, currency deprecation only adds to inflation numbers, which we have already factored in.

                Some Hard facts:
                ———————–
                EVEN if someone has bought in PSN at 2000 per sqft, by holding on to it, he is BLEEDING at the rate of 60K per month, which is eating into his profits. And the longer he holds, more he is loses. No surprisingly, he will be the first to “relieve” himself off this apartment unit when the market crashes. And for that he has to compete with another 450 owners, as I still see 450 apartment units up for sale in PSN, and that number is increasing….

                Huh … doesn’t correlate well with your analysis….isn’t it?

                1. Completely agree with Manjushree…and really impressed with her knowledge of maths and investment.

                  RE has to crash so that end users can enter the market and this doesn’t seem near possibility as these developers have already made lot of money and would not want to work on week margins post crash…they might look for another avenues and then we we see another generation of RE entrepreneurs entering the market.

                2. I wish there is a ‘LIKE’ button in this page 🙂

                  Like Ms.Manjushree pointed out here, would like to stress that point again:
                  Property prices do not go up by inflation; rather they would go by supply and demand.
                  One is living in fools paradise if expect to beat this very basic economic principle.
                  A simple and obvious proof is to see the HUGE number of properties for sale on the different websites you get to see.
                  Property prices are being quoted based on inflation/ greed for windfall profits/ hype or whatever you call it; and are there any buyers at those price points? HA HA Check the property sale web sites.

                  1. Godrej property’s operating margin as per money control is between 17-32%. If flats are giving 30% or even 20% returns year after year to the owners why Godrej or any other real estate company is selling it in the first place. Even TCS margin is 25%.Tata could have bought only lands. Similarly IPOs, if they have very good companies,why dont convince a banker and fund their companies.Know the risk you take before putting money.

                3. Waste analysis. you don’t need to read-write this complex economic funde to understand real estate benefits.

                  You are trying to make all the profit from rental income, however in india you get only 3-5% per year rent. you make money when you actually sell it.

                  Also you missed one very important point, in real estate you make profit on your money + bank money.
                  ex. in PSN few of my colleagues invested 10 lacs and took 40 lac loan
                  total 50 lac, that 50 lac became 1 cr today. so their minimum profit is 60 lacs from 10 lac in just 6-7 years!!

                  now you will raise money paid as bank interest: yes but then you anyway pay rent. rent + tax saving is approx to bank interest. few thousands + –

                  Can you make 60L from 10L in FD ?
                  don’t read those 1000s of article, apply common sense.

                  1. >>> ex. in PSN few of my colleagues invested 10 lacs and took 40 lac loan
                    total 50 lac, that 50 lac became 1 cr today. so their minimum profit is 60 lacs from 10 lac in just 6-7 years!!
                    >>>

                    Don’t you know ppl need to pay interest on the Housing Loan ??
                    For a 40 L loan for 20 years at a conservative interest rate of 10%, you need to pay Rs50L as interest to BANK.

                    Total payment to Bank = 40L (P) + 50L as interest in 20 year span

                  2. You are mixing 2 things, namely End_Users and Investors. If you have read carefully, my points are only about INVESTORS.

                    End users who bought at PSN for 2000 per sq. ft. obviously gained a lot. I am happy about those end users as they paid so less for such premium property and are living a good life today. I wish I were that fortunate.

                    About Investors ( Math Compulsory)
                    ————————————————–

                    >>> rent + tax saving is approx to bank interest. few thousands + –

                    This equation used to hold true back than, when per sq. ft. rate was 2000. No more.

                    >>> you make money when you actually sell it.

                    YES. Very true. Ask those end-users at PSN to ACTUALLY sell those property at 1Cr and move to a SLUM area in a 20L property to “realize” a KILLING profit of 80L!!!

                    End users at PSN have to live somewhere and any other property of same standard will not cost less than 1Cr today. So, the profit you are taking about is only virtual i.e you can’t realize that profit. INVESTORS, whom I am taking about are looking for REAL profits.

                    >>> don’t read those 1000s of article, apply common sense.

                    Not sure what you mean by this one. Do you mean to say, STOP reading and start investing in Bangalore RE immediately as if there is no tomorrow?

                  3. Hi Ravi, how much interest we need to pay for 40 lakhs loan ?
                    from the houses I own and rent , i can always see its just 3-7 % return mostly due to increase in property prices

                    Houses are best only if we need to stay

                    the best way to get income from rent is buy a property 40×60 in bangalore , build your own apartment with 16 flats in it, you can still earn around 10% of your investment .

                  4. I couldn’t stop myself from responding to this.. there are valid points everywhere but in general i would agree with Ravi.. i have been in Bangalore for over 10 yrs and first bought an apartment in 2004, another one in 2008 that i sold off after couple of years and another one in 2012. At no point i could tell what would be the real prices after few years and always bought with intention of self use…..

                    But have to say that just the inflation and increase in cost of real estate has lead to significant price increase…. its probably true that PSN or other projects have tons of apartment on sales but its also equally important to find at what price??? one can say people are bleeding but i wonder why would 500-1000 owners keep bleeding and not sell. Logically there should be some apartments available at much lower prices which i doubt is the case.. and if there are some, i would definitely like to know where and how much lower !!

                    Supply demand equation is true and important but it would foolish to think that inflation doesn’t play a role..how is it possible that with cost of fuel, cement, labour etc going up over last several years, it won’t impact RE price? Similarly, builders do projects on borrowed money which causes huge interest costs….. again i am not saying that the price aren’t inflated at all but its hard to tell how much…even during times of recession which was pretty ugly, the property prices in Bangalore didn’t decline as much and i don’t think one could buy at around Rs2000/sq ft ever in last 5-6 yrs… one could say that its cos NRI etc were invested but then where’s the data to suggest that?

                    Folks are missing a very relevant and important element called “leverage” that Ravi mentioned which comes from borrowed capital .

                    For example, the EMI I pay for my flat that i purchased in 2004 is lower than the rent i can get anyday…. so in that sense, from this point on, i am not paying anything “additionally” to won the flat.. its basically bank money which i used and in true sense all i paid is 20% down payment and EMI over last 10 years which in total is lesser than the original cost of the apartment !!

                    Another fact is that residential property is not meant for rental to generate profits in the first place..definitely not so in first 10 years or so —— if that’s what one wants,then commercial property is a better investment or rather a different asset class…. a good mutual fund investment you give 10-12% YOY return over a 5 yr period.

                    also, residential property carries what i call a usage and emotional value beyond just financials which is probably hard to quantify.

                    I think unless you have the appetite, residential property shouldn’t be looked at investment to generate profits till the point where you actually sell it.. also, usually one needs to price little below the market rate when trying to sell an apartment or else no one would buy a used apartment when there’s so much availability everywhere.

                    net net… use your common sense, look at your affordability, market price, location and decide what makes sense for you considering how important it is for you to own a home… End of the day its not really a bad idea to stay on rent for whole of your life and invest aggressively elsewhere to create wealth and mange risk…

                    A builder will always sell at the price they can which is market driven and to some extent their own costs and margins but just like you cant control any of that for most products you buy in your life, you can can’t control or sit and wait forever waiting for a RE crash…

                    these are my thoughts based which are based on my experience, logic and practicality….

              2. Dear manjushree
                I have read through your analysis and it does hold good if one is indeed buying a completed aprt/property’s as an INVESTOR but most savvy investors (me included) , will NEVER buy a completed aprt as a investment! We get in during pre launch and get out in around a year’s time.
                For ex if a 1000sqft aprt is prelaunched at rs 5000psft. We put 10 lacs (20%down ) , pay 3 installements ( wait for the aprt to touch 5500 ( likely within a year ) and then exit. Our return will be 5lacs on a 10 lacs investment in a year’s time ! Beat that!
                ( in reality we may sell it for lesser than 5500 for a quick exit but nevertheless , it will beat a base return of a 70k annual return on a 10lacs FD, hands down! So therefore 3-5lacs return vs a 70k return on 10 lacs = a savvy investment !

                ( P.S : have not taken the 3 instalment costs and have assumed a “cash” exit but that shouldn’t tilt this analysis by very much, as i have made a general point regarding residential real estate investment 101. Also, it is RE 101 that a residential investment will give you only 3-5% returns but then real carrot dangling is the “potential” capital appreciation in that.

                I would also not recommend mindless speculation based on the above example as real estate is market driven and the market is slowing down with inventories rising so consequently exits will take longer, but if you have the power to hold even during the downtimes, then it is a great asset class to be in as our country is a burgeoning economy and the need for quality housing will eventually hold out.

                Also, going on a tangent here, I see so many people trashing so many projects( prestige tranquility etc), know one thing, genuine savvy investors are just silent readers here, if at all!, and don’t really care about trashing projects /commenting here and wasting time posting 2 bit comments… Btw , have taken 5 min to post and will not be pulled into a unproductive debate here. Felt indebted to the bangalore real estate market for making me a millionaire but as always, do as you all deem fit.
                Happy investing!
                Cheers!
                Arjun
                ( I run a VC firm that invests in various sectors including real estate and till date the CAGRs on our RE investments have given us extraordinary returns!)

                1. Hi Arjun,

                  While I am not an expert of RE market in BLR , I have 2 observations in your analysis above :
                  1) No Tier-1 builder will allow exit after 1 year. Most of the new pre-launches have atleast 2 years and/or 50-70% payment lock-in
                  2) Transfer charge is not taken into account above. . . they might run upto 150 psf . .

                2. Well said Arjun. Taking a home loan to invest in a property is strict NO-NO. Its like taking a loan to invest in IPO. If you are cash rich and able to hold on to a A/A+ property for first 2-3 years from pre-launch with just cash,then RE is the right investment ground for you. But again, like stock market, RE is also bound to ups and downs and its in downward trend today. However I am not sure if it is bottomed out. But I feel it will bounce back in medium term.

                3. @Arjun

                  Quite possible: many savvy investors are actually doing the same. From your 5L gain, deduct:

                  1) FD interest on down-payment (opportunity cost, 70K for 10L)
                  2) Transfer charges (builder’s cut on your gain, 50K)
                  3) Short term capital gain Tax (government’s cut, @30%, ~1.5L)
                  4) FD interest on installments (Opportunity cost, say 0)
                  5) Bank loan interest (if applicable) (Banker’s cut, say 0)
                  6) Brokerage while selling ( another cut, 1-2% of sale value, 1L)

                  Even after so many CUTs, you will be left with 2.5 to 3L of ANNUAL profit, not bad: around 27%. You beat the FD for sure!!!

                  This is the gain if you actually SELL the property. If not, it’s going to leave you with the wound that is going to BLEED you for years …..

                  But wait, there is more to this 5L story before you conclude, continue reading …

                  A subtle but important thing to note here is that Arjun is not another investor, who is working in IT and investing in RE while moonlighting. As he claims, Real estate investment is his PROFESSION, and as a result he draws his salary from the profit he makes. After all, to make such quick buys and sells, one needs to dedicate a lot of time and it has to be done PROFESSIONALLY. So to reach the NET PROFIT, we must deduct some fraction of his annual SALARY from this profit. Equation will be:

                  (Profit from Real Estate) – (X % Salary) = NET PROFIT from RE

                  >>> Btw , have taken 5 min to post and will not be pulled into a unproductive debate here.

                  Need I say the least: 5 minutes of time here on this forum is costly and unproductive, we can only wonder, how much will his annual salary be to impact the NET profits. Anyway, that’s his BOSS’s concern.

                  >>>> Felt indebted to the bangalore real estate market for making me a millionaire

                  …. You should be, after all, it also gave you what you call your PROFESSION.

                4. Hi Arjun/all,

                  Can we sell the property while it is in pre launch. I asked the sales executive, he said you can only return the property and cannot sell it.

                  Please advise.

            1. Dear Abinasroy,

              Greetings from Godrej Properties Limited!

              Thank you for expressing interest in Godrej United, Bengaluru.

              We would like to request you to kindly share your contact details on , so that we can assist you in taking an informed decision.
              Alternately you can contact us on our 24*7 Toll Free number 1800 258 2588 for further details or chat with us anytime on our website http://www.godrejproperties.com

              Godrej Properties always believe in a relationship based on trust with our customers

              Regards,
              Godrej Properties limited

        2. Exactly the point. IN that stand we need to have rentals also in the range of 60 thousand 1lak all over the cities. Cannot happen unless income of people adjust to US standards,which we know will not happen anytime soon.

          1. Individual income might not be same as US standards but many families has income in range of 1.5 – 2L per month.
            Thats the reason you see good number of buyers for these properties.

            Already rent in PSN, Brigade etc is 35k for 3bhk. And it will continue to go up!!

            1. If rents in PSN were to go up further, there would not have been 521 units lying vacant for rent.

              Please check this link for number of apartments available for rent and sale at PSN:

              http://www.commonfloor.com/prestige-shantiniketan-bangalore/povp-s6yjsx

              Agree that, going by capital valuation of their apartment, Owners are asking 30-32K rent, but there are not many takers. Otherwise 521 units would not have been waiting for tenants. Those who could afford, are already renting or are staying at their own house. But still, the fact remains, MOST of the apartments in PSN are waiting for tenants!!!

              Some more math:
              If a owner is holding a 1Cr apartment at PSN which is lying vacant in search of a tenant, he is losing at least 60K per month of fixed deposit income. On top of it, for a 3BHK unit, he is paying at least 8K as maintenance which is essentially going down the drain for him. Now consider if he has gone for bank loan. Interest on 1Cr will at least be 72K per month. So, essentially, by keeping this apartment, he is losing at least (60+8+72) = 1.4L per month..!!!!!!

              Only reasonable thing for him now is to sell this property at a lower price, and look for other investment avenues. Bangalore Real Estate a HOT investment….no more!!!

              1. Above calculation has some flaws
                1) 521 flats vacant doesnt mean that all are available for rent/sale. There are quite a few NRI/Non-NRI who holds the flat without desire of renting or selling. In my current apartment, I can see atleast 10 Apt lying in this. Mind you my current Apt is mid-segment (Avg price is 40L)
                2) You are assuming that person holding 3BHK has bought flat @ 1 Cr. Hence you are doing calculation of 72k EMI. It is very likely flat was bought at lower rates (3000-4000 per sq ft) from Prestige. Hence whole loan calculation is wrong
                3) Some flats could be of landlord, who doesnt have need to sale always. Whenever there is need of money, they will sell at their rate.
                4) Bangalore has enough number of high income people who are not so money math minded. Yes it is bad, but due to these people Market doesn’t come down. Personally know few colleagues who holds 2 or more flats in bangalore. Both lying vacant and persona staying in rented apt due to own preference 😀

                1. >> 1) 521 flats vacant doesnt mean that all are available for rent/sale.

                  They are specifically listed for rent on commonfloors.com. Why otherwise would anyone list his property for rent if he doesn’t want to rent it out anyway….that too, many are premium (paid) listings..!!!

                  >> It is very likely flat was bought at lower rates (3000-4000 per sq ft) from Prestige. Hence whole loan calculation is wrong.

                  Even if it’s bought at lower rates, if the market valuation of the flat is 1Cr, he is losing money at the same rate…this is called “opportunity cost” …i.e….by holding this flat he is losing out on the opportunity of earning assured FD income of 60K per month unless flat price is increasing enough to offset that loss. We know that’s not happening: flat prices are mostly stagnant when it comes to YOU selling it. If you are an investor, this is how profit and loss are calculated. Ask your friends in finance.

                  >> Some flats could be of landlord, who doesnt have need to sale always.

                  Same as above, losing on “opportunity cost”.

                  >> Bangalore has enough number of high income people

                  Wasn’t it the same story in US, where I suppose RE market crashed post 2008 recession. Agree that because of high demand, RE market may not crash drastically in India, but investors money will be blocked for a long time in a stagnant market, increasing the opportunity cost further.

                  Contrary to what many believe, a crash in RE market will actually be healthy. It will lower the barrier for new investors/end users and increase the economic activity around RE business. Stagnant market as it’s today is not good, neither for investor nor for developer nor of the economy as a whole.

                  1. Why are you beeing soo critical. Your claims on an FD is reasonably good but is it really good to compare Fd with real estate? real estate is a solid asset ,it beats inflation and generates a fixed income in long term. The property cost will adjust for inflation which the FD too does.
                    Rental income 3% – 5% of the property cost will not drop down. About the property prices you are mentioning, yes i agree it is slightly high. It is because majority of the buying happens from the IT employees who make 3 Yr -5Yr US trips and have a liquid cash of 50-80 Lacs. So thay want a reasonably good investment. But its true they pay a bit higher cost compared to value. Investors are the most schrewed of all, Investor appartments are moving like hot cakes ,trust me. But the genuine buyers who try making an investment out of an appartment are facing heat when it comes to selling , its not easy to resell single appartments at 1Cr when u have 1Cr brand new appartments offered from builders. Happy buying guys.

                  2. Thr r many flaws in his math. Firstly when if someone has 1 cr then why need to pay interest but ur calculation shows 72k interest payment on so only 60+8k =68k which is yearly around 8.1 lakhs but at simple appreciation of 10 percent property can appreciate by 10 lakhs plus 25k rent will be saved which is 3lks so 10+3=13 lakhs’ which is stil 5 lakhs more than Fd. I have not considered inflation which will increae rent and property on yearly basis. Plus you have a stisfaction of your own house.

    2. It was probably for this reason that our very own dear Mr Shibulal (former CEO of Infosys) choose to buy around 700 apartments in and around Boston. He was trying to bring Indian culture and mindset to US – use real estate only as investment. In the US, most people just buy one good house for own use, which helps to control un-realistic price increases.

    3. This logic is flawed. Yes you may get a great deal for 90 Lakhs equivalent in Florida but you won’t even get a place on the footpath in San Francisco or in Manhattan for that money. So it depends on the location, on the location, on the location – as the saying goes, in every country in this planet.

      1. Yes, you’re right!! location matters. & you can’t compare a location in Bangalore with another in SF. Bangalore, a poorly designed self imploding city is like a loo when compared to SF.

  12. Hi,
    Anyone knows whats the resale clause? Can we sell the flat at anytime? Is there any charge/fees for transfer? Is this a good property for investment in 5 yrs time-frame?

    1. Dear Ronak,

      Thank you for your interest in Godrej United Residential Property in Bengaluru and taking your time to write to us.

      We at Godrej Properties always believe in a relationship based on trust with our customers. For us, ensuring customer satisfaction is of utmost importance. So we would like to clear your doubts and queries that will help you make an informed decision.

      We have recently come across the posts here and hence thought of addressing this.
      As per your query, we would like to inform you that as per the release clause, a certain transfer fee per sq. ft. of saleable area will be charged till possession. Moreover, the transfer will be permitted only after receipt of minimum of 50% milestone payment as per the construction linked payment plan or 12 months from the date of booking, whichever is later. May we request you to kindly get in touch with our customer response team email to get more details on the transfer charges?

      We strongly believe that it is a good opportunity to invest in Godrej United, given its location, amenities and the surrounding infrastructure.

      We hope that your queries have got answered now but if you have any query in future you can feel free to write to us on our customer response team email along with your contact details.

      We will be present here to provide our assistance to your utmost satisfaction so that it will help you make an informed decision.

      Regards,
      Godrej Properties Ltd.

  13. Did any one calculate the efficiency in this project? It is ridiculously low just 66 percentage. Guys think before investing such properties may be dreaming of having 3 bhk of 2100 sqft but u would not get more than 1386 sqft this the worst carpet area given by any premium builder in Bangalore . I know it is ur money just sharing my thoughts

    1. Dear Abc,

      We appreciate the observations you have made regarding the Godrej E-City property in Bengaluru. We understand your concerns regarding the carpet area and regret that your initial observation of the project has left you disappointed. May we kindly request you to contact our customer care team on the coordinates mentioned below to get an accurate understanding of the matter raised by you.

      Godrej Properties prides itself on the high quality standards followed for project execution, materials and services. We ensure that the designs of our projects are innovative and unique. We focus on customer requirements and ensure that we incorporate them in our designs. Our flats are designed to provide immense aesthetic value as well as privacy to the residents.

      We would like to inform you that we are offering various area options: 1BHK-615sqft; 2BHK-1338 to 1799sqft; 2.5BHK-1459 to 1544sqft; 3BHK-1933 to 2173sqft; 3BHK (Premium)-2619 to 2700sqft; 4BHK-2949 to 2956sqft; 4BHK (Duplex)-4337; 5BHK (PH)-6290sqft where all properties are currently priced at Rs5700 per sqft. We assure you we have properties above 1386sqft carpet area as per your requirement.

      We would be glad if you would contact us with any further queries or doubts and hope that we can answer them to your satisfaction and help you make an informed decision. Please contact our Customer Response Team at and they will be glad to answer your queries.

      Regards,
      Godrej Properties Team

      1. Dear Godrej Properties team,

        Please stop replying just for the sake of doing so. The question was on % of carpet area, and the reply was that you have apartments greater than 1386 carpet area…ridiculous ! What is the carpet area for your 3 BHKs (1933 & 2173) in Godrej United project not e-City?

        Such out of context replies would not help to demonstrate that you are a ‘customer friendly’ organization. Also, few other questions from my side:

        1. When would be the launch of Godrej United?
        2. When would the model apartment be ready?

        Thanks

        1. Dear Bikram,

          Thank you for expressing your interest in Godrej United Residential property in Bengaluru and also taking your time to write to us.

          We at Godrej Properties always believe in a relationship based on trust with our customers. For us, ensuring customer satisfaction is of utmost importance.

          As per your current requirement, we have two options in 3BHK-1933 to 2173sqft and 3BHK (Premium)- 2700sqft. Wherein for the former the carpet area is 1378 – 1525 sqft and for the latter the carpet area is 1884 sqft.

          Kindly note that the carpet area for the units is between 70-72% depending on the unit type.

          The project will be launched in August 2014, tentatively. We also expect the model apartment to be ready before that.

          We hope that your queries have got answered now but if you have any query in future you can feel free to write to us on our customer response team email along with your contact details.

          We will be present here to provide our assistance to your utmost satisfaction so that it will help you make an informed decision.

          Regards,
          Godrej Properties Ltd.

          1. Hi Godrej team,

            Your statement “Project launch in August and model flat will be ready even before that”. It’s already September.
            I really wonder how customers can trust you. Marketing ppl should learn to provide true details.

  14. I was told that all 2bhk and 2.5bhk are sold out.. do they mena all 2bhk are sold our or only the ones they planned to sell in pre launch? What is expected price at launch?

    1. Hello Vasu,

      They mean what they wanted to sell is sold. Expected launch will be 5600+.

      -Amit

      1. The price is already 5550. Once all documetns are ready and home loan approved by banks like SBI, the launch price would be 6200+
        So better to book a 3bhk now rather than wait and book a 2.5 after launch.
        That;s my view based on other projects I explored in past (and ended up not investing in those projs)

        1. @kumar.
          Do you know when is the launch.
          Your suggested launch price of 6200 is very ambitius. They were finding it hard to sell after the initial bookings for 5000 and 5250 @5400.
          In real terms 6200 would mean a jump of almost 25% for people who have booked at 4999 by paying only the 20% booking amount. I dont think any builder in BLR could provide that kind of return

          1. your logic about percentage jump sounds correct. but price at launch time would be based on market price. I do not see any other project from Class A builders with similar location & amenities at a price lower than 6200 psft.

            1. Are you related to Godrej or United Oxygen? I am getting calls daily from these folks about 2.5 & 3bhks, ofcourse everything is sold out, very few units are left, then why they are calling back? If they increase the price by even 1 paise, I dont see it getting completed in atleast 10 years.

              1. Dear Not_an_investor,

                We appreciate the observations you have made regarding the Godrej United property in Bengaluru. However, we request you not to give out misleading information to others. We understand your concerns regarding properties not being available and sold out and on the project completion date. However, we assure you that currently we are offering 1BHK-615sqft; 2BHK-1338 to 1799sqft; 2.5BHK-1459 to 1544sqft; 3BHK-1933 to 2173sqft; 3BHK (Premium)-2619 to 2700sqft; 4BHK-2949 to 2956sqft; 4BHK (Duplex)-4337; 5BHK (PH)-6290sqft where all properties are currently priced at Rs5700 per sqft and the tentative date for project completion is in July 2016.

                If you have any further doubts/queries you may send in your queries to our Customer Response Team on and they will be more than glad to answer your queries and help you with your decision.

                Regards,
                Godrej Properties Team

                1. @ Godrej Properties Team, Appreciate your concern and presence here. But you should consider that this is a public forum and not an advertisement for Godrej properties and pay due respect to people over here as well. Please let me know what misleading information did I give to people over here. I just told from my personal experience. You can go through my comments and let people know what are the false comments made by me. What about the guys spreading starting price of 6200 psf? Or was that you guys just judging the market? Now tell us more realistic picture here, is the project launched? Is model flat ready?

                  1. Dear Not an Investor,

                    We have recently entered the Customer Response Arena and we aim at addressing all customer queries. Also we are always open to feedback from all users to make our services most customer-efficient.

                    Our response was in no intention to disrespect any User/ Advertise our property, but to put across the correct information for the benefit of all.

                    Further, we ideally would not want to put consecutive posts under a common thread to create any kind of inconvenience to moderator and other forum users. So we would like you to send us all your queries mentioning your full name and Contact details to our Customer Response email so that we can assist you to your satisfaction.

                    Awaiting a positive interaction with you

                    Regards,
                    Godrej Properties Team

            2. 6200 is the base price. Including service tax vat and other charges it will be above 8000 psqft. For the resale flat there will not be any charges or tax. Mostly resale flats are semi furnished which is worth 300 to 500 psqft.
              Refurbishment can be done to bring new look with 200 to 300 psqft.
              Now. Can u please tell us which A class ready to occupy is priced more than this.
              No project priced 25% diff for pre launch to launch.
              If builder done so, then the sale at pre launch price is done for themselves.. No real, end user might have got at that rate. Even if they sold to an end user the numbers might be 5-10. Just a trick to fool the buyers.

              1. >>No project priced 25% diff for pre launch to launch.
                ROW is one recent example where prelaunch was at 4100 and launch was 5200+ (more than 25%)

                >>Can u please tell us which A class ready to occupy is priced more than this.
                All, as per my knowledge. Brigade metropolis, PSN

                I booked after doing my research. Before that I followed and observed many pre-launches and launches only waiting for prices to fall or at least stagnate.

                Other people should also take a call after their own research. However as some one asked for suggestion on price I told as per my analysis, u r free to have a different view 🙂

                1. ROW prelaunch was in March 2013 and launch was in Feb 2014!

                  Do you think, the quoted price in websites for PSN and Metropolis are the price they actually get sold for?

                  Also going from 4100 to 5200 is different than starting at 5200 and gng till 6200 🙂

                  @ Kumar, @ Sanjay be true godrej/united representatives and answer our queries rather.

                2. If u done the analysis, pls quote the numbers. Max asking price for those PSN and BM are. 7500 to 8500.
                  With base price 6200, plus other charges will be 25% of base price. Means 7700+. Other charges are, clubhouse, PLC, floor rise, car park, bescom, water, etc.

                  1. Also add service tax, vat.
                    Tell me what’s the Cost to Own a flat in godrej and in brigade. Take typical size 1300 sqft

                  2. Guys, You have so many options in and around whitefield, @5590 DNR Atmosphere, @ 4950 Spectra Palmwoods, @4800 Gopalan Atlantis, @5500 Skylark Esta.

                  3. If you interpret “investment” as monetary ROI after X number of years then all the above projects namely BLF,Godrej, BM and PSN are bad investment choices going by the current rates ..BUT if your expected return is in terms of “Living Experience” then these projects will definitely be good investments…recently bought a 3bhk resale in BM ~@7150 psft, really happy about the decision.

                    P.S: I feel construction quality of BM is better than PSN, not to sure if Gopalan or Skylark can be clubbed along with the above projects going by quality of already executed projects, Spectra and DNR are unknown quantities

                  4. @Sushil, Are you sure BM and PSN construction quality are really great! If you consider amenities both are great, I rate PSN more than BM, but in terms of quality both are equally bad. Gopalan and Skylark quality are comparable with both BM and PSN (I am saying the walls within which you leave and not in terms of amenities). DNR is unknown for sure, but Spectra quality is much better than both BM and PSN, please go and visit Spectra Cypress and check for quality. Then you compare the flat you bought in BM at the insane rate!

                  5. @ Sushil, Congrats on your purchase! and I am just saying my opinion, but 7150, you could have got some Villa man!

                3. Hi Kumar,

                  I saw yuor comments for streling feedback page also that : “I am one of the buyer in sterling shalom phase 2 who booked flat in 2011 March, but still not even 70% of the work is completed”.

                  And you have booked now godrej united? Can you please let me know which one is better option ?

            1. @Sanjay
              Good to here about your expertise in Real Estate. Seems like your really have good knowledge also may be well connected to the builder to say something with so much confidence. Are you saying this on behalf of the builder.
              The other question is when is the launch, 1 month, 3 months, 6 months, 12 months
              I see that rate in the horizon of 6-12 months, so you could technically be true. But then it just means, that the developer is taking that much more time to sell the 10-20% released for sale of the total inventrory. Most projects would go for launch in the range of 3 months from the prelaunch

              1. @V J

                I am following Bangalore real estate for 3 years now and m sure i have much better knowledge then you on any given day !

                As godrej sales guy say project will launch by june …i say they will for sure launch before july !
                When u visited the site last time ?? i guess never !! Sample flat is almost ready .
                Y price will be close to 6000 psf at launch ??>>> I will give u only 1 reason ie LOCATION LOCATION LOCATION !!

                Vj i can understand u missed the opportunity to book the flat @ pre launch price (4999psf) but trust me even if u book at present rate u will get good profit.

                1. Hello All,

                  I have been in Bangalore real estate for 5 yrs now , Demand and supply is pushing prices of real estate up daily .

                  Something which is in city , well connected and near to office space will always have demand.

                  Having Brand Name is a big plus , also when we know it will take 3 yrs to complete we dont have big burden on Pocket to go ahead and book it .

                  From all these angles and also from Near by good projects Brigade & Prestige Shantiniketan are already close to 7000/- psft and are already 5-6 yrs old . By the time Godrej is ready they will be 8yrs+ old . So Godrej may be selling @same rate as these projects.

                  Just my view .

                  Thanks,
                  Amit

                  1. @ Amit I dont agree with you on this at all! PSN and Metropolis are not at all gng at 7000 psf. Dont get fooled by the rates shown in sites. Consider Sobha habitech, you can get it for decent price from some brokers/owners at ~5500 psf, anyday better!

                  2. 5500 is only the base, you will have other charges like floor rise, club house, car park , VAT and ST which is in addition to the base price. You can add 22% to the base price to arrive at the total Price.

                    San

                  3. @san, I am talking about base value of 5500 only, but even if you add all other stuff, do u think it will come to 7000? You are talking about base price of 6200+ for godrej! So compare apple to apple.

                  4. A sobha apartment will cost you approximately 32% on top of the base price Including the registration without any interiors, if you have bought one you can calculate and check the same. I am telling this since I have bought one and it costed me around 32% on top of the base price.

                    San

                  5. @ san, some statistics can be completely misleading. Just check with latest apartments from Sobha eg:- Habitech, Marvella. Also I am not sure what negotiation you did with Sobha! Anyway I am not an owner of any Sobha apartments so I can’t comment with same level of expertise as yours. But check the market right now, you will be surprised.

                  6. @not_an_investor
                    As posted earlier bought a resale at BM @~7150, forget 7000 the rates are definitely going @7100+, ask any recent buyer who bought in BM or any prospective buyer currently negotiating and they will concur with the posted rates…btw how did you arrive at the conclusion that it isnt going at 7000+? did you actually negotiate or was it just an assumption?

                  7. @ Sushil, Thats insane rates you have paid if you have bought in actual. I too did negotiate and I had written from my experience.

                  8. @not_an_investor

                    So when did you negotiate and what was the final quote? was it a 1297 or 1610/1630 unit?

                2. @ Sanjay bhai, you were very sure that the project will be launched before july! Is it launched? If so it is at 6200 psf? No activity gng on in the forum surprisingly!

            2. @WarenBuffet_BLR_Real Estate Considering you that with so much certainity, I am sure you must have booked all the other flats by now, and the sales team could go home
              25% return from Pre launch date, even if you enter now, you could get close to 15% return in matter of few months

              1. Hi Not_an_Investor, Sachin_federer and others,
                I agree with all of you that the current apartment prices are super inflated and these builders are just fleecing the customers. There is no Value for Money! I would like to know what would be a reasonable ALL Inclusive price (excluding registration) for a 1300 sqft apartment near SaiBaba Ashram, Whitefield, which is BDA approved and which will also provided OC (meaning no deviations) with some basics amenities (power back-up, jogging track, clubhouse etc). Your inputs would help me a lot. I have paid the booking amount but am in two minds whether to proceed further or not. The builder ALL inclusive price is around 55 lacs (excluding registration). I am planning to take 50% loan for this one and mainly for end-use for next 5 years after which I would like to sell at NO LOSS (taking the interest on 55 lacs – Rent paid into account) If I look at the math of renting Vs buying, then buying an apartment at today’s inflated price is suicide. However, I still see so many people buying that it creates some doubt if I am being over cautious.

                1. @Ramesh Yes these are tough times for any end user customer! I think most of the projects which are nearing completion are not fully sold out. With your conditions, please search for some ready to use which are reasonable. Since you said Sai baba Ashram, please look into Nitesh Flushing Meadows, Parkway Tiwoli (not sure about legal issues).

        2. Wow! 6200+? Just can’t believe people going for it! Common guys, stop buying and lets see what happens to these real estate bubble! At 6200+, its better to stay in rental apartment than buying a flat! You don’t require an MBA to prove that.

    2. Dear Vasu,

      Thank you for showing your interest in Godrej United Bengaluru. We regret that your query hasn’t been responded yet, however, we would like to clear your doubts and queries that will help you make an informed decision.

      We would like to inform you that currently we are offering 1BHK-615sqft; 2BHK-1338 to 1799sqft; 2.5BHK-1459 to 1544sqft; 3BHK-1933 to 2173sqft; 3BHK (Premium)-2619 to 2700sqft; 4BHK-2949 to 2956sqft; 4BHK (Duplex)-4337; 5BHK (PH)-6290sqft where all properties are currently priced at Rs5700 per sqft.

      We would be very glad if you would contact us with any further queries or doubts and hope that we can answer them to your satisfaction and help you make an informed decision. Please contact our Customer Response Team at and they will be more than glad to answer your queries.

      Regards,
      Godrej Properties Team

      1. Thanks for a very professional and informative reply.
        Sir,
        How do you respond the the claims on this form that the carpet area of Godrej United flats is significantly less than industry standards(for a given super built up area).
        People have compared it against Prestige adn other A class builders.

        If these claims are incorrect, you can paste some figures to substantiate.

        Thanks,
        Vasu

  15. Guys I’m looking for a 3bhk around Whitefield, is Godrej a better option — is pricing of 5400/- is realistic?

    1. From the last week, i heard the price was 5550/- . Realistic or not is for each one of us to analyze.

      1. Looks like bangalore will be in the same league as mumbai and delhi in terms of real estate affordability.

        1. Yes and there will be many buildings with ghost floors.
          A monument for shooting oneself in the leg for the real estate.
          Let them quote in dollars now.

    2. Wait for 6 months price will reach to 6000 psf !!

      Perfect property to invest as well as for end use.
      Remember very less inventory and Huge demand ..!

    3. unfortunately you have to make a choice from the options available. other option close to godrej are starlight trifacta, habitat aster, rohan avriti, smr endeavour etc… from quality and builder reputation perspective the order would be Godrej, Rohan, Starlight, SMR. You also need to keep in mind the possession time. Habitat and SMR are ready to move in. Rohan in another 7 to 8 months. Godrej and Trifacta a minimum of 3 years from now.
      Starlight is @ ~ 5450, Rohan @ 5800. Not sure of Habitat and SMR

      1. True, the prices are high in this area. But considering location and accessibility amongst A class builders, Godrej United seems to be the best option for people who don’t have cash reserve to buy a ready to move in apartment

        1. Does A Class suggest highest price? I have never seen such an ugly arrangement for a pre launch from even B class builder. Just go there, you will find a shed! You have to wait like you have come for an appointment to consult the topmost doctor in a hospital. Now comes the guy with explaining the project. Wow finally everything is sold out, very few options left. Comon guys how many times you fool people. And now guys saying 6200 psf. Now location, no volvo so far, metro work not even started, may complete by 2030! Yes there is premium view, one side, beautiful ABB, one side, beautiful Brigade metropolis, one side Indian railways and other side lots of dust! Add nother 150 psf for these you can sell it at 6350 psf!

  16. Have been to the project site today. The following is the update from my side
    About the Project: G+17 floors [1BHK, 2BHK, 2,5, 3, 3BHP (premium), 4BHK].
    Location: Bang opposite Brigade Metropolis
    No. of towers = 2 (Front and Back)
    No. of units = 516 (both towers inclusive)
    Land Area = 8 acres
    Project Approval: Yet to be approved.
    Start Date: July 2014
    Possesion Date: June 2017 (including grace period of 6 months)
    Pre-Launch: Around 150 of the back-side tower relased. 1BHK, 2 & 2.5 BHK sold out.
    Development model: United Oxygen will be the developer. Godrej is the development manager responsible for architecture, quality review and marketing. United Oxygent Company is responsible for construction. So all agreements will be between United Oxygen and property buyer
    3BHK size = 2130 sq.ft SBA
    All inclusive price for above 3BHK (assuming 12th floor) = 1.52 cr
    Price per sq.ft = Rs 7180
    Base price quoted by Godrej = Rs 5400

    * Note: All inclusive price includes floor rise charges, 1 car parking charges, Club house charges, Power back-up charges, Bescom charges, Gas Bank charges, Legal charges, Advance maintenance charges, Sinking 1 time fund charges, Khata transfer charges, VAT and Service tax as well. Registration charges are not included however (Expect this to be another 3% = 5 lac).

    Amenities: Swimming pool and Clubhouse (Billiards, Squash court, convenience store etc. However clubhouse amenities still in discussion and not finalized)

    My views on the project
    Price: Seems a bit high but i guess the location is like that. Future road widening plans and metro connectivity will make it a good location. But this is at least 5 years away. Close to ITPL & other tech parks, Malls, ORR, Whitefield major plus points. For people commuting to whitefield for work, this is a good project.
    Risks: United Oxygen company is venturing into real estate with this project. May not have the experience to build such projects in agreed timelines and at agreed quality.
    Payment schedule: Very much skewed in favor of builder now. One can try and negotiate here.
    Amenities: Seems less given that there will be 500 families. Sobha Habitech with 320 units has better amenities than Godrej United. Anyway, thats a personal call and not a show stopper.

    1. They have separate entrance from outside as well for the club house… not sure if club house will be exclusively for apartmen owners…

        1. Dears,

          I joined late in this discussion. i have booked Godrej United and i need to be in the group discussion. i have sent request to the google group, pls add me .

          Cheers,
          Mayil

  17. Seems like they have had a great response..but they are humble and say that they understand my requirement and would let me know should there by any further opening or cancellation of 2.5 bedroom. Please go meet Mr. Dhruv – he is the sales head and is one of the most well mannered and suave people i have met. He will give you realistic picture and not oversell the project..but still you will feel that he is making so much sense.

    1. The location is great and then Godrej name – no wonder they had good response. I also got the impression that all the 2.5 BHK units that were released in pre-launch phase are booked.Now they are taking bookings only for 3bhk units.
      What I fail to understand is the reason they are charging huge amount for cancellation(~2Lac) even when the agreement is not done.

      1. Do we have an owner’s group? Can we start one on Facebook? (easier) so we can exchange notes? A cancellation charge of 2 lakhs without legal verification is bloody stupid. There is no chance of going ahead with the purchase if these are the terms.

  18. I visited the property on 14th March 2014. Sales guy seems very busy with only 1 customer. Took 15 mins to attend us. But its ok, the price quoted to us Rs.5400 /- .

    And moreover they said they will release the higher floors and the blocks in later part as if they playing online poker game where they keep good cards for later part and throwing the waste card in the beginning.

    People there are good projects come up in and around areas.

    The hottest selling areas in Banaglore right now are Hennur Road and Old madras Road.

    In Old madras road just parallel road to Whitefield road you have Good properties like Salarpuria Celesta and RJ lake gardenia. You get those properties in 5200 all inclusive.

    I am not trying to say Godrej is bad but think and do research………

    1. >> keep good cards for later

      Good or bad. That is individual perception.
      There is a news item in today’s ToI about a fire incident in an apartment at a high floor in Mumbai.
      Two persons died. Fire brigade couldn’t reach that floor. 12th or some floor like that.

      1. I agree to your point tha tit is individual perception.
        More over for park/pool facing apartments you get better view from lower floors.
        Also from lower floor balcony you can keep an eye/ talk to your kids while they are playing in the park 🙂

          1. Don’t you plan to? I figured you have to make that payment. However, I intend to meet them personally and understand cancellation procedures post due-diligence of legal documents.

            1. @Potential, were you able to get further inputs from them on the cancellation procedure. I understand they will not be starting work until a few more months. Seems like they had introduced an August timeline for getting all approvals, and they are already demanding close to15% paypemnt

                  1. Absolutely we must. It also helps us if we can do a joint legal verification of all the papers by a single lawyer (bring down all our legal fees). That would be one very important idea.

                  2. in my opinion, it is better to get papers verified from multiple lawyers.
                    Costs less than Rs 10K which is hardly anything compared to what one pays to buy an apartment. Also, not all lawyers may focus on all parts of the project and some may focus only on a specific tower..

    2. On an unrelated topic – read couple of days back that Nandan Nilekeni (Cong candidate from South Bangalore) has declared assets worth Rs 7,700 Cr ! Mind Boggling number…Was aware that he was one of the richest in India (being Infosys founder), but Rs 7,700 Cr was really surprising. No wonder real estate prices are high…maybe lots of rich people in Bangalore, after all !

  19. Hi,
    Looks like this project will also come close to the railway track behind and could have same problem that ppl in prestige shantiniketan face. Did anyone check the distance between this plot and the railway track?

    1. Yes, I’ve checked. For Godrej, it would be about 400-500 mts away from Tower 2 (which would be close to Railway track). But for PSN, its about 70 mts away from Towers closer to Railway track

      1. I too checked on google maps and railway track looks more than 500 mtr away.
        Any one checked about the plans for commercial tower within or adjecen to it being developed by godrej?

    2. It is around 300 meters. I dropped it for the same ‘railway track’ reason. I already own a flat in PSN and listen to the soothing horns from the trains. I didnt want to pay another 1 .3 Cr to do that again. :o) The Bangalore-Chennai track that runs here will get increasingly busier….
      but none of these factors will matter for prices and appreciation in Real Estate. Just the location!

      1. The location compound wall is 300 meters from Railway station.

        The space between compund wall and the railway track is occupied by other structures like Brigade school etc. Not a direct open space like PSN.

        From the compound, there is a park and civi amenities planned, which will be around 30 meters and then the flat starts.

        Actually, 3BHKs are the best option mainly bcoz its located centrally, away from both railway track, and whitefield-krpuram main road, and also with 270 deg opening on master bedroom.

        1. If i look , In bangalore railway track is close to all possible good locations/flats , be it Purva Fountain Sqaure , Purva Rivera , Prestige Shantiniketan , akme ballet …..

          There are 5 Railway Lines Passing from Bangalore City Railway station.To Hyderabad via Guntakal, Chennai via Krishnarajapuram, Salem via Hosur, Mysore, Hubli via Tumkur, Birur.

          For Godrej , distance is fairly OK , more than 400 mts . There should not be any doubt with respect to railway line for godrej.

          Is price high ? In Purva Fountain Price for 2 Bhk ( ~1350 sft ) is 90L and similar is the price in PSN & Brigade.

          Godrej is good for ppl who dont want to go for BIG EMI today and are ready to wait for 3 yrs , by then all these big apartments will be 8-10yrs+ old and Godrej will get comparable or better price for investor and New and better connectivity for residents.

          Thanks,
          Amit Goyal

          1. Godrej united already has a winner on hand….the location…..

            Literally no builders on this area are below than 5000….

          2. Are you aware of the plan for commercial tower with in or adjacent to godrej united?
            I was told by that 8 acre is residential and 2 acre is for commercial tower but could not find more details about it

      2. @Bunty Well the railway line does not seem to be much of an issue, to explain that well. most of the sound is from honking due to the presence of the Railway gate. There is a bridge coming up and reasonable amount of work it terms of pillars, and beams has already been done and should be definetely completed well before the GU possession, There might be some chitter chatter due to the regular movemnet of trains, and as someone mentione it is almost 400metres and could be applicatble to any part of bangalore

  20. GODREJ IS NOW WORST THAN THE LOCAL BUILDERS. THEY HAVE HYPED THE MARKET AND TRYING TO FOOL THE CUSTOMERS. THERE ARE 1000S OF OPTIONS AVAILABLE. DO VISIT OTHER PROJECTS BEFORE FINALISING THIS AS WE CAN INVEST ONCE AND REGRET LIFE LONG.
    JUST IMAGINE A REPUTED BUILDER INCREASING THE PRICE AS AND WHEN THEY LIKE, HOW CAN WE TRUST THEM AND WE KNOW ONCE WE PAY THEM THE MONEY THEY WILL PLAY WITH US LIKE A PUPPET. MANY BUILDERS DO SO AND FORCIBLY WE NEED TO BE ATTACHED WITH THEM

  21. Is this really 10 acres? Google Maps suggests that it is far less. Are they claiming the dried up lake bed to also be their property?

    1. From the looks of it, the booking procedure seems simple – give a check (with around 5 mins of thinking) & pray like hell that you are in(else you might be homeless). But, hey, you may still not get the apartment of choice, since prices have shot up by another Rs 300 (while you were thinking for 5 mins..too long for a apartment with a total cost of around 1.5 Cr..shame on you for taking so long). Welcome to the new ‘wild west’ of apartment booking ! One who shoots first, survives !

      1. Hi Bikram, when did u happen to go there,
        The same happened to me, when I was there on Saturaday 1 Mar, I was under the impresion, that were changing prices after specific bookings, and should have not been the same for other customers as well.

        27 Feb, it was 4999, 1 Mar morning 5250, 1 Mar noon increased to 5400., and I guess they are still at the same levels as of now. So not sure when they increased by 300

        1. @VJ : so as i understand from your post, they increased price by 150 rs/sft within few hours? Thats insane !

          1. Things in whitefield and nearby areas slow down once it reaches 6k psft.
            based on observation of some other pre-launches.

        2. For everyone’s information, apartments in Sobha Habitech/Prestige park View is available now for Rs.5500/sq.ft (including floor rise) in re-sale. Its a very good deal, considering that the apartments will be ready for possession in early 2015.

          1. I am interested to buy apartment in prestige park view
            Please share the link/contact details for these deals(Sobha Habitech/Prestige park View) @ 5500/ sq.ft

  22. I booked 2.5 bhk for end use.
    What i liked was: Great location and brand name. high end specifications.
    Other comparable options brigade lake front/ brigade cosmopolis, both at relatively inferior location are priced at least 25-35% higher 🙁

      1. 2nd floor pool facing. It has Rs100 preferred location charge.
        I prefer lower floor (due to better garden view + parents want to avoid lift) so got it easily as more ppl were interested in higher floor due to their personal choise+ low floor rise charges

    1. >> relatively inferior

      depends on the location of one’s office, school for kids and so on.

      this whole area is very congested (and highly polluted – data available on internet) and takes lot of time to commute even short distance.

      some prefer to stay close to their offices / kid’s schools etc and that location becomes great for someone (and of course, may not suit someone else).

      so, for someone close to Phoenix mall is good while for someone else, close to EPIP Phase II or close to Forum mall is good. For someone who doesn’t work in any of these areas, none of these may be good.

  23. What a buzzling project. There was a consistent price rise in these three days and now the bookings have been shut down. Buyers wait for the opening.

  24. This project is a perfect example of residential property directed towards investor and commercial use. Godrej could have made this a good plush residential development with exclusive 3 BHK and 4 BHK with duplexes and such. But instead they made a mess by putting in 1 , 2, 2.5 along with 3 and 4 BHKs. There are less than 20 flats including duplexes that are proper 4 BHKs out of the total 500. The 1 BHKs are the studio type which are suited for hotel type rentals for the corporate guys. And making it easy for the investors to get in early and hold on to a bulk number is another bad step. They did not have the need to do that because given the location a lot of end users would have come in. This would have been a great family friendly project if they wanted it to be.
    And there is a claim of 80% open space…but the master plan does not look anything like that. May be they are talking about the future development as included in the open space.

  25. The prices have shot up to 5400 in a very short span. and seems they also have 1 BHk options which has not been adverstised offered across the spectrum. Does anyone have further information on these.

    Regarrds
    VJ

    1. So they have taken a leaf out of Prestige Group. What an easy to make Indians asses !!
      The sold out flats will come on some property web site soon at hyped prices.But if the market stays dull as it is now the the so-called buyers will be in the lurch and end up holding the baby which they can ill afford.
      Have the Bangloreans become billionaires to queue up to buy such over-priced flats.No, the middlemen con scheme is in work to create interest in the project.

    2. “2 and 2.5 all sold out” OMG, what shall I do…. I will be homeless… 🙁
      Good try to keep up the hype, better luck next time…..:)

      1. I some time wonder how much money does people/software professionals make @30 in Bangalore if one can shell-out 86 lakhs (all inclusive incl govt lavies) for 2 BHK(I agree 1388 SBA is pretty big for 2bhk).
        I am stating following as name is anonymous in forum, I make 16 lakh+ pa(I know it is avge in todays terms). But still can not justify myself to leverage financials with current rent of 18k, car loan12k, kids day care 8k and other monthly household expense of 35k(mind readers, I do not think that is too much of expense if you have a infant)
        I sincerely do not understand who are these people buying such tad expensive properties..? what is the age profile of these buyers? Do they get assistance from ‘Home’ for investments or is it just onsite money driving people crazy. 🙁
        I am curious to understand who are the ones who buy 2nd, may be 3rd such expensive properties.
        In past 3 years, I have not heard any of my colleagues or Bosses (family with 1 or 2 kids) buying 2 BHK or 3 BHK from tier-I builder, coz, they think prices are insane even for their income (earning ~ 24 lakhs).. I just do not simply can not make it out, who are buying in such hyped market..?

        1. its all investor driven with full of black money..since the sector is not regulated.people who has got black money invests and converts this in white..i doubt if any software engr is buying an apartment for 1 cr..considering the economy and the job uncertainity.

          Staying in a rental flat is good than buying a property…if we pay 15-20 k for an apartment we can live a decent life and can save on HRA as well..On top of this living happily is very important..and all IT guys wanted stress free life.

        2. One of my friends purchased/booked a 90+ lac 3 BHK apartment in PLH. He was not sure at booking and is also not sure now if its a wise decision. he has around 30 lacs savings. his salary must be around (CTC: 25 lacs, take home : around 1.5 lacs, Age: 40 years; Experience : 15 years). He has his own small 2BHK apartment where he is residing currently (bought maybe 10 years back for 14-15 lacs). He does NOT want to take loan or take minimal loan. His logic is that the payment has to be made over 4 years…so for 2 years he maybe able to manage without loan. After that if he feels the EMI is too much he can sell the apartment and he should be atleast able to receove Principal+Interest. If he doesnt sell, then he would like to live there.
          Many people are booking thinking if they cannot manage the loan then they can sell it at a PROFIT after 2-3 years. I seem some people on this very forum treating property like STOCK-Market and some even playing on margin money. Take the case of DivyaSree ROW. Some people booked at around Rs 4200/- per sqft in pre-lauch by paying 5 lacs. After 8 months, they put this booking for sale at 5000/- per sqft. So, for a margin amount of 5 lacs they are trying to make profit. In my opinion, this trend is VERY dangerous and is leading to a bubble in Real Estate. When this bubble bursts, many would be in trouble.

        3. How much do you save every month? How do you invest it? That is what matters. Car loan is a bad debt. Google for good debts and bad debts.

        4. My package is 11 lacs and recently i have booked my 2nd property. I was in US for 5-6 years and both the properties are from onsite savings……made around 70 lacs at onsite….purchased first property and after 1st i had around 20 lacs cash so booked 2nd (80 lacs).
          Now i am in india and don’t know how will i pay remaining 60 lacs because i won’t get 60 lacs loan on my current ctc. Worst case i will sell one of my flat but if i go again, i will not be taking loan 🙂

          I am 29 yrs and still single, no car only bmtc. Most of these properties have been booked by folks working in wipro/infosys/cts/tcs. My friends in wipro same age group are either holding 1-2 in tier1 or tier 2….some have 3-4 flats in tier 3 buildings getting 40-45k rent.
          Don’t think only investors are driving this market, lot of s/w prof. are now driving this market too.

    3. Hello All,

      is it true that if you pay 5 lakh and then decide to back out then they will deduct 2% from the total basic cost of the apartment, also is it true that if we pay the 20% and then we decide to cancel or not go forward due to any reasons – godrej will not pay any money back to us…they will forfeit the whole amount ?

      Please help with info as this is what i heard today but not sure if this is true…

      also there is no commercial space coming in this complex…..like said before on emails which were circulated by the channel partners….

      in addition why are they building the biggest size apartments and giving them the location of back view…..”Y” shape on the edges of “V”……

      also why are they not opening both towers , would picking in 2nd tower would be better….i am sure the price would be high….can someone pls help !

      1. first of all it is not their property, they are in a development agreement with the owners. went to their office today and they are no different than any 3rd class builder for creating artificial hype and making money on that hype- you have to wait and receptionist says lunch is going on for next 2 hours. then they will tell u that price is increasing every hour and now price is 5400 for 3 bhk. guess even godrej is just banking on their brand name and are totally unprofessional, maybe same on their construction also – good luck to people who are investing and waiting for next 4-5 years for their brand name and the tantrums that the land owner will play.

  26. Agree with sanjay’s point !!

    read the article
    BANGALORE: Whitefield, the interface between an idyllic Bangalore and a futuristic IT corridor, is the most polluted area in the city.

    Yes, you read that right. Air pollution levels in Whitefield are higher than elsewhere in the city. Reason? The rapid pace at which Whitefield developed, say Karnataka State Pollution Control Board (KSPCB) officials.

    The residential area of Basaveshwaranagar is the least polluted, with recorded figures much below the national standard.

    Heavy flow of vehicles in Whitefield through the day means the Respirable Suspended Particulate Matter (RSPM) count in the air is almost always on the higher side, much above the standard figure of 60 microgram per cubic metre.

    In January this year, the RSPM count in Whitefield stood at 100 microgram per cubic metre, while it was a mere 38 in Basaveshwaranagar.

    In fact, the RSPM count has always hovered above 100 in Whitefield in the past five years. But the scene is not all that bad. The Suphur Dioxide (SO2) and Nitrous Oxide (NO) levels have not crossed the permissible figure in the area.

    In January this year, RSPM count for Whitefield was recorded at 100 microgram per cubic metre, while the sulphur dioxide and nitrous oxide count were recorded at 17.7 and 30.6 microgram per cubic metre, respectively.

    Top five polluted areas

    Whitefield

    Yeshwantpur

    City railway station

    BTM Layout – Outer Ring Road

    Mysore Road and Vijaynagar Chord Road intersection

    (Chart and figure source: Karnataka State Pollution Control Board)

    Link below:

    http://www.samachar.com/Whitefield-is-most-polluted-area-in-Bangalore-mcxlKDjidbi.html

  27. Got a mail yesterday from GODREJ properties about their upcoming project in Whitefield. It’s also featuring in their website. They have started taking inquiries. I guess the pre-launch will happen soon.

    1. Godrej Whitefield road project bookings have started ,quoting 4999/- for initial few bookings.

      is the price ok… ?

    2. Talked to toll free number provided on the Godrej site. They plan to have 1 BHK , 2 BHK , 2.5 BHK , 3 BHK and Pentahouse.

      I was informed 2 BHK starting 74 lakh onwards ( All inclusive + Reg + Stamp duty)

      1. Got the below info

        We are pleased to announce the Pre-Launch of our upcoming project Godrej United in Whitefield Bangalore. Please find below brief details about the project: *Location: Whitefield Main Road Bangalore, near Phoenix Market City*Type of development: Residential development spread over 8 Acres *Configuration:2 Towers, G 172BHK- 1388,1500,1761,1799 sft2.5BHK- 1459,1482,1485,1544 sft3BHK-1933,2130,2140,2173 sft3BHK (Premium)- 2619,2700 sft Sizes given are approximate values only* *Positioning: Contemporary high end product*Specifications: Best in class to match your needs*Amenities: Lavish club house with amenities & retail spaces for convenient living *Key USPs of the project:Unhindered 120-270 degree views for each apartmentNo apartment facing each otherExtensive daylight and ventilation for all unitsAmple open space Pre-Launch Offer is 4999/sft.Note: Price and availability are subject to change and only for limited period. Kindly get in touch with us in case of further queries and interest.

    3. Guys, how many of you managed to get the so called pre-launch price ? We wasted hours but builder did not bother to meet. Looks like 5000 price was fake

        1. I am not sure if above statement is correct. I talked again today morning and they haven’t started accepting the cheques yet. Expected to setup office at site sometime next week.

          This is what I was informed on the toll free number.

  28. How many of you are really interested to live in such a polluted area ??
    2nd it will take them at least 5 years to complete the project !!
    that means by 2019 project will be completed !!

    1. I went to the pre-launch today at Godrej and booked a 2.5bhk in 10th floor. You dont believe the crowd gathered there to avail the prelaunch offer of 60 apartments.

      1. Hi
        I went for pre launch , Its seems most of the unit sold to middle man , All 2bhk unit sold , Genuine one was not entertain . Some put 5lakh and sold with in month by make some money . real buyer may put 80 lakh and key partner of project ,
        ITs highly manipulative

          1. Its good to hear that you were able to get two 2HK, seems they dont have any further availability for 2, 2.5, I was keen to book, but it was difficult to get through,

        1. unfortunately thats how these guys sustain the hype. I went to few pre launches. The whole environment is created in such a way as to make you succumb to hype. The sales guys will appear very busy as if every second apartments are getting booked, sales guys can be seen running from one place to another with cheques. After few such launches i figured out all of this is to create hype and pressure for you to book. Same guys who were behaving as if they are doing you a favor by selling you an apt and telling you that if you dont book now it will be done by evening, will keep calling you for few weeks. Happened with me in few projects – on that comes to my mind right away is bridage cosmopolis.

          1. I was looking to buy one good project around Whitefield area given close proximity to work , for me to move into and spend some quality time with my family ;the rates that are being quoted sounds really crazy , at this rate probably will have to work for another 10-15 years ( + onsite savings ) to repay the whole amount and I think IT salaries /job would see a downward trend say from next 3 years.
            And there is whole question of market being dominated by middle men , no true sense of customer satisfaction ..
            The question is have you come across any good Builder , whose project is legally clean and is in the interest of customer it doesn’t matter if the projects are small , its worth looking for ready to move in properties .
            any good projects , I think with right set of real buyers we could negotiate good ,honest ( may be too much of an ask ) prices , please feel free to drop me a note to

          2. Sachin , What i intended to write in the previous post ( since it was my first post and probably the first few bits got overwritten and is awaiting moderator response ) ,

            I said , I haven been following your posts and reply for a while now and most of your comments makes true sense , looks like you have done lot of analysis around properties and builders in this area ,i was wondering if you could be willing to share few details , thanks , I have posted my mail id in previous post

            1. @Kiran : I have seen some of the big builders projects (that come with good amenities) so far and location has never been a concern hence i casted my net wide – ORR, Sarjapur Rd, Whitefiled, OMR, North Bangalore etc. So far in my view, there is a huge huge oversupply. Most of the projects are getting delayed by few years. Bigger ones will get delayed by 3-4 years easily. So i am a bit circumspect now in putting my money in pre launch. Pre launch is risky, risk of legal document, risk of delays, risk of project getting completed as per the promise etc. So better to pay a bit of premium and go for ready/near ready as in this case you get what you see. I am not looking at these for investment as i dont believe that 1.2 CR+ can give me any returns. I completely agree with what you say (and some other folks have said it here also) that most of the IT guys cant afford these inflated prices. sorry for an incoherent and long post so let me come to the point. do your research, go with your requirement and budget, see what fits in and then once you have shortlisted few builders/projects, do a thorough research to make sure you are not getting cheated. Being thorough will save you a lot of hassle.

        2. sales guys have to pretend like that so that they can make a living out of it..the market will be down for another 3 years..

  29. Tier- A builder is launching 10 acre mixed development project close to Phoenix Mall in Whitefield. The project will comprise of High End Residential Apartments.
    Pre-launch of this project is expected from 27rd Feb, and is an excellent opportunity for both end users as well as investors.
    Quick Facts:
    Location : At Mahadevpura, near Phoenix Mall – Whitefield
    Development Type : Residential & Commercial. Format: Large 2 BHK starting from 1350 sqft and large 3 BHK starting from 2100 sqft onward.
    Development Size : 10 Acres approx
    Price Indicator : Pre-launch Price is Aprox 5500 / sqft
    Type of Project : Luxury project with High End specifications: ITALIAN MARBLE IN LIVING AND DINING & WOODEN FLOORING IN MASTER BEDROOM

    1. Are you referring to the project that is discussed in this thread or some other project. Please provide details, I mean atleast the name of the builder.

  30. Harsha : can u pls throw some light on this project….is it a goo deal to pick up in Pre Launch and wait for 3.5 years for posession ?

    Will appreciate help from all.

    many thanks

  31. Hi Guys

    Nowadays cost of contruction has become too high compare to past which is more than Rs 2500+ per sft for normal deluxe flats with G+4 Flr apt and Rs.3200+ for high rise plus land value plus all govt taxes plus approvals plus bribe etc
    will all together take the cost to Rs 4000+ to 4500+ per sft. Barely there is profit left to builders.
    Bangalore is the affordable place to buy apt or land compare to all other major cities in our country. In metroplitan cities such as chennai, Mumbai, delhi u cant even get dream to get closer to this price. Hence dont ever dream of the prices will go down.As the housing market of India is going through in a bad situation in past due to economic slowdown but now market is recovering its lost charm. Even when situation is bad the prices has never come down since the cost is too high and scarcity of good land without any litigations.This is the best time to investment in realestate in India. After elections if BJP forms the govt then the prices is going to shootup like anything. Already some witness in hyderabad which has increased 20% after state bifurcation.

    Regards
    Kumar

    1. >> Barely there is profit left to builders.

      So, they should consider getting out of this business and do something more profitable.

      Maybe become IT engineer, buy small apartments for 1 – 2 CR and pay EMIs for many years.

    2. Construction companies are doing India a great favor or the country will collapse :P…

      if these monsters just stop land hoarding, people will be able to buy land and build affordable n better quality house.
      Just wondering when will they start quoting price in dollars.

    3. @ Kumar, sorry to say this. I never been a troll. But this time, with statement of yours, ‘will all together take the cost to Rs 4000+ to 4500+ per sft. Barely there is profit left to builders.’ I feel like puke puke.. 🙁

      Check Arvind Sporcia (rachenahalli) G+14 floors with all amenities, last week pre-launch open 3550/- per sqfa, location 2 km from Manyata backside. Land 5.5 acre and 550 apartment.

      With that price Is Arvind Infrastructure selling at loss or gov’t sponsored Rajeev Aavas Yojana ? 🙂
      Now please do not compare this with provided sunworth or welworth (I do not think you can compare location of those with Arvind Sporcia)
      This is just an example I gave to give you a sense of reality.

      What does this tell you. Builders are simply ripping off customers in the name of location and Brand, Construction cost is rising but with commercial real estate kind of dead(which is why Karle/Embassy/RMZ in to residential real estate), cost of construction of apartment isn’t as high as you think it is.

    4. Poor builders, they must be really going broke.Only 4500 per flat !!! Let’s contribute something to the kitty of builders.They are doing great service to society by selling at cost and with no profit . They deserve Bharat Ratna for this dedicated service.
      Buy immediately and save builders from penury.

      1. Yes, I agree. I am concerned at the lack of profit for Brigade, Sobha, Prestige, Purva etc. We, as citizens of this country should do much more to improve the profitability of these companies. Even though their balance sheet shows record profits & they are holding Expo in Dubai or opening offices in foreign locations, the fact remains that they are struggling to make ends meet. For such non-profit companies, who have always had the customer interest at heart (even selling apartments much below market rates, just to make housing affordable for the common man), we have to stand up as one & help out before these Great companies go bankrupt. (I guess thats enough s$5@t for one day from my side..will stop now before I throw up).

    5. For guys like kumar and other who think alike 🙂

      I bought a project from reputed developer (grade A builder) few months ago at a price close to 4100/sqft.Although it seemed high but went ahead reading land cost is going up ,construction cost is going up etc etc so overall cost will not come down but now after months when going for a loan I saw valuation report done by SBI – valuer submitted to bank for project approval was surprised :

      The project cost mentioned was about 50-60 cr for developing the project.The total SBA to be developed is around 1 million sqft and if we average out the /sqft rate the developer will sell as 4500-4700/sqft this turns out to be 450-470 cr of sales from /sqft rate alone.Apart from that they will make money by selling Car park,club house ,Bescom/BWSSB charges etc amount to another 30-40 cr.This being a JD property approx 25-30% share will be given to landwoner so approx 120-130 cr of apartments.

      If you subtract other charges which developer (big builder) may incur apart from cost of construction for getting approvals,marketing,advts etc it may account for another 50 cr

      So the developer makes a whopping (500 cr – (120)cr for landowner – 60 cr for construction – 50 cr for other expense) = 270 cr for just management of the project (so called big buider) are making money over a period of 3 yrs or so as construction they will give to another construction company 🙂 .

        1. A good part of the 498C – 126C = 372C expenditure would have been utilized to buy land banks for looting the public in future. That may not show up as profit but adds assets to the builder.

          And your argument of buying builder stocks is like trying to buy IOC/BPCL shares to compensate for increase in fuel prices. At least those companies may have much cleaner accounting than the builders. And any idea what percent of the builder stocks are public listed? May be in single digits.

          1. agree with jobless and kayaar I am not sure this was my observation as I have myself bought in the same project I mentioned so there is nothing I need to hide or expose.

            But thats what I felt as far as calculations shows and I mentioned them .If that sounds in correct may be 🙂

          2. I am not supporting any builder. My points are

            > Trying to keep margin as high as possible is what business is about. Margins on smart phone is always high compared to feature phones. Some software product companies have margins as high as 70-80%. Does that mean customers are dumping them? Quality products and high-end products demand higher margins. Competition and commoditization can bring the margin down.

            > Indian real estate is not organized and these premium builders are making full use of it with the help of politicians. Agreed that it is not level playing field and builders who have political influence rule it. Unless government interferes and do something about it, we cannot do much here. Only thing common people can do is to fight for organizing this sector (introduction of real estate bill is one such move) and also just stop at 1 apartment or home. Unlike the developed nations, indians are crazy about RE and Gold. So these guys are making full advantage of it.

            > You said right. There is no point in buying IOCL or BPCL shares because the rise in petrol prices is driven by the rise in raw materials. Same holds good for here as well. Premium builders are non government organization, so they keep increasing the prices to increase the margin amidst the rise in raw materials cost, labour cost.

        2. @KayAar : did you check out the share prices of Prestige, Sobha, Purva? Prestige and Sobha are down 30%-40% in a year. In between they hit all time lows. What does that tell you about the RE prospects? Purva is an interesting case, they are down by almost 50%. They (Purva) are hitting all time low as we speak. It cannot happen that industry makes money and doesnt reward the investors in stock market. so obviously RE industry is in deep soup. So all the nonsense about huge demand for RE in Bangalore is just that, a nonsense. if demand were high and all the flats were indeed selling (that too in good numbers) at the prices that they are quoting, all the RE stocks would be hitting their highs.

          1. I never said that demand is high in RE. Of course, developers will try to try to take a hit at their margin (but again only to an extent), if there isn’t demand for longer duration.

      1. Money makes money. If you have access to 50 crore you can also make fortune. Since we don’t have them lets be content with what we have. This is common in business only that the percentage of Margin will vary from business to business. Since we are not in that league lets look for whether we are getting value for what we pay. If not move on and look else where.

        san

        1. Agree with you. Its all business. We as customers should decide if it is value for money and buy or reject it. Agreed that this decision is difficult in an unorganized sector like real estate.

  32. Breaking news!!!!
    All those who book at this price will get a free soap and fridge .For another five hundred per sqft a washing machine.

  33. Trust me …. Go for it…. if in the pre-launch if price is around 5.5k/sqft it will be a steal deal… is ROW is selling @5700 (includes everything, except registration) and not even at main road (fyi I have invested in ROW). And I am anticipating that for forst 20-50 customers they will start with ~5.5 k price range and its going to be good price. Mark my words… 😉

        1. Did the builder appointed you guys to do price discovery? Do u think people will buy at 5500 just because it is from godrej?

        1. got email from ft2acres

          not much of info..
          Godrej Whitefield
          Total land – 8acres
          Price range – 85 lacs to 2 crores
          2BHK – 1385sft, 2.5BHK – 1800sft, 3BHK – 2100sft, 4BHK – 4000 sft.

          1. 4bhk 4000sgft @ 6300/sqft works out to be 2 crore 52 lakhs

            Price range mentioned is wrong. Looks like a wrong info

            san

        2. does any body aware of the construction quality of Godrej as they are mostly into development management model. They will be front end for the brand name and other partner will be doing construction. So if anybody has any experience with the construction quality, please share.

          Price- 6300 I am doubtful until source info is shared.

  34. Guys get real! one idiot just thrown price of 6000psqft without revealing how he concluded that, and everyone started talking on that price range. IT is consolidating, I was looking to buy a apts for self use but few weeks ago, one whole team got fired from my BU. I am so scared right now to even have a thought bout buying anything at the moment.
    Heard the same story for IBM (2K cut in India) and Barclays to cut 15k world wide.

    On the other hand, all developers across from India have started project in B’lore hearing selling potential & slowdown in other cities, raising the competition. Kolte Patil, Super Tech, Kumar Builders, Mittal Bros. are named few.

    Now, I’m happy paying 11K with 24/7 corporation water, living in City center where I can walk even in mid night and completely gave up stupid idea of buying Apts in suburbs, sipping contaminated water from bore-well (guess what, if you’re lucky enough) or even worse from tankers.

    Good luck guys, but I deny to buy a moron’s lucky dream.

  35. With no new joinings happening in IT sector and inflow of professionals to Bangalore getting stopped, there are hardly any new buyers in Bangalore market. The whole real estate market here is breathing somehow on speculative buying. High prices are infact acting as deterrant for the few genuine buyers who don’t want to risk their hard earned money, given the still unstable state of IT sector. I don’t think it is sustainable. Prices may correct in near future.

    1. If this property is Rs 6000 +, how is this better than Lakefront? Is the construction quality or apartment layout/size/amenities better than Brigade? Any feedback on Godrej properties in Bangalore?

    2. Where is the metro station? Please do not misguide people, as there are no metro stations within a few kms (nearest one will be near PSN or KRPuram Rly Station on either side, with the alignment moving through Marathalli and not Whitefield Road).
      Correct me if the alignment has been changed recently that I don’t know of.
      6000 psf is exorbitant price and I am sure they will sit with 50% of flats like Prestige is doing even after a couple of years of PSN’s completion (or so I heard).

      1. “alignment moving through Marathalli and not Whitefield Road” – When did this happen ??

        The only re-alignment that happened last year was, as per the initial proposed plan from White Field Rd after Garudachar Palya(Brigade metropolis), it was planned to take a sharp right to Graphite India Road and reaches EPIP zone, but as per the new approved plan, on White Field Rd, it goes till up to Hoodi and then takes a right and realigns at EPIP zone..

        -VR

        1. Agree to you. People comment in public forums even without doing some elementary background checks. The metro map is available online and can be verified in a couple of minutes. There was never a proposal to change the metro route to Marathalli. It was always through Whitefield road. The only route modification as you rightly pointed out is where to take the turn to graphite junction, be it from the ABB junction or from near Hoodi.

          Metro phase 2 is still in dreams. I guess it’ll be at least 10 years by the time it becomes operational. As of now it’s just a tool for realtors to speculate prices. For 6000psft, you may be able to get a decent apartment in Indiranagar (at least second sale). Any day, Indiranagar is a better place to live than Whitefield road.

  36. approx. 500 flats, pre launch may happen around 6000 +/- few hundred…

    This is going to again set the new benchmark in terms of cost. Expect other builders around this area to increase their prices by 400 to 600 rs.

    1. @ hriday, Bangalore reality is screwed up big time and then comes your statement, out of thin air.. Calm down, sit and think where are current prices before you say “Expect other builders around this area to increase their prices by 400 to 600 rs.”
      PLH, BLF and many other tier-1 are helplessly holding on to price. Aren’t you getting anything from that? Increase of 500 to 600 doesn’t make any sense (complete nonsense in layman’s terms).
      You could have made these statements only if you had bought in nearby project like Rohan Avriti, Habitat Aster etc expecting some price hike before you exit!
      As far as I could sense, reality hubris/madness is settling down and sense is prevailing.
      Disclaimer: I am buyer in ROW. But still I do not expect real estate prices to go high significantly higher from now at least till we see major recovery in west, particularly to Bangalore RE market due to IT being major job and consumption driver.

      1. First to clarify, I am not a broker. I am also not part of builder lobby. ?
        Builders generally hold to the prices and take it to next level as they work in a cartel mode. Any new launch happens at a higher price and this helps existing projects. Either they hold to the price and get another reason to convince buyers or they increase by few hundreds if they are already getting good traction from potential customer.
        BLF, Skylark Esta, Spectra project may fall in the first category, where as Rohan Avriti, Habitat Aster, SMR etc. may fall in the other category.
        You have project of Vaswani and other builders lined up on the same road. I don’t expect they will launch at price anything less than that of Godrej.
        This also increase the price of resale apartments.
        Pros:
        • Corner plot of 8 acres
        • Reputed builder
        • With 500 apartments, it is not very big and at same time not so small
        • Low density in terms of number of apartments per acre
        • Access thru main road
        • Completion time may be less compared to BLF
        Cons:
        • Heavy traffic
        • Priced slightly above the market
        • Underdeveloped area around project

        Pros / Cons can vary from person to person 🙂

        1. @hriday : what you are saying has some truth to it. The cartelization has happened/happening in the builder community. So far it possibly has worked as the price of a regular size apt in the heart of city were pricey and outskirts were relatively cheap. Now even in outskirts, every other 3 BHK apt is going for 1 Cr+. If you look at the supply, every month you can see a huge number of these 1 Cr+ apts getting added. Is bangalore adding the crorepati’s at the same rate?

          1. Why do we software engineers earn? to give it to all the builders? A software engineer buys at such huge prices and pay for it all his life and even after 10 years you will find him living the same lifestyle as 10 years before and these builders will suck all his money and would be travelling in Mercs and Audis… Think guys.. I am not going to get fooled by them…

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