2026 Update: Assetz Marq, a Multi-Phase Project at Different Stages
The original post below is from June 2014, written when the project (then just called “Marq”) was about to open pre-launch bookings for Phase 1. Assetz Marq has since grown into a large, multi-phase development — here’s the current picture as of August 2026:
- Earlier phases (Phase 1 and Marq 2.0) are delivered and occupied — you can verify this on a site visit. No pending OC/CC has been reported for these older phases. Marq 2.0 was registered under RERA PRM/KA/RERA/1251/446/PR/171016/000973 with a target possession of November 2022.
- Phase 3A (RERA: PRM/KA/RERA/1251/446/PR/240122/004654) is in advanced construction, targeting February 2026 possession.
- Phase 3B (RERA: PRM/KA/RERA/1251/446/PR/091122/005433) is under active construction, targeting July 2027 possession.
- Delay history: RERA filings show revised timelines against original commitments on earlier phases — factor this in if possession timing matters to your decision, and don’t assume a quoted date is final.
Given this project now spans multiple phases at very different stages, always confirm which specific phase and RERA number a listing or sales pitch is referring to. Treat the pricing and single-phase description below this line as 2014 pre-launch context, not current status.
Assetz Marq
Assetz Homes is expected to soon open pre-launch bookings for their upcoming residential apartment project called Marq. The project spread across 28 acres of land will offer about 2500 apartments in a mixed development project located at Kannamangala, Whitefield -Kadugodi – Hoskote Road . As of June 9th 2014, Bookings are currently open for Phase 1 of 450 untis
Assetz Marq Options
- 2 BHK – 1234 sq.ft
- 3 BHK – 1457 to 1604 sq.ft.
- 4 BHK Penthouses
Area in the range of 1150 to 1700 sft
Assetz Marq Location
Opposite Army Welfare Housing, Kannamangala, Whitefield
Key Distances
- Vibgyor School – 2.6 Kms
- Old Madras Road – 3.0 Kms
- Forum Value Mall – 9.1 Kms
- Inorbit Mall – 9.8 Kms
- K R Puram Rlw Stn – 14.0 Kms
Assetz Marq Price
As of 9th June 2014, pre-launch price of
- 2 BHK – 51.8 lak (+ other Charges)
- 3 BHK – 61 lak (+ other Charges)
Assetz Marq Investment Plus Points
- Located at a fast developing residential neighborhood with many luxury projects in the vicinity such as Chaitanya Samarpan, Sobha Amethyst, 10 Downing
- Mixed development property of 5 acres commercial and 23 acres residential offers better chances of appreciation
- Close to offices at Beary’s Global Research Triangle as well as ITPL
Assetz Marq Concerns
- Water is definitely an issue, some pipe work is in progress for the supply of cauvery water to the AWHO and may get extended to the surrounding projects as well
- The 1.5 lane Kadugodi bridge will become the biggest bottle neck in future with several thousands of apartments coming up
Take the poll – Is Marq by Assetz Homes a good investment?
[polldaddy poll=8111480]
Hi,
I booked a 3bhk+3T in Tower-3 of Neighbourhood-1. I want to take loan through a PSU bank. Can any one of you let me know, which is the best PSU bank offering loans for this project, in-terms of transparency in conditions, Low/Nil Processing fee, Low/Nil pre-closer penalty charges..etc
Go With either SBI or PNB. They both have max gain home loan…
SBI bank . i recollect it offers 10.15 interest . there are some payment regarding legal and verification charges you might need to pay
http://economictimes.indiatimes.com/cost-of-houses-pretty-high-scope-for-reduction-rbis-s-s-mundra/expoarticleshow/43223296.cms
Has anyone checked what is the carpet area? For a 1639 sqft 3bhk 3t carpet area is only around 1100 sqft. Where is 550 sqft going????
That comes to 67% carpet area. A new record low. This is how builders are cheating the buyers. Charge for 100% and give much lesser than that. In the past builders used to give 80%, then came 75 to 70% and now coming to 67%. How low can it go.
Builders are milking with both hands – increase the price and lower the carpet area.
550 sqft is going for Common Area. The carpet area comes around 68-69% (assuming slightly more than 1100 sqft) which is the norm these days in Bangalore.
Carpet Area = 2/3 Quoted Area (Investor Area) — Too Much, Not Ethical…..
This article appeared yesterday in Deccan Herald, I guess Buyers need to be extra cautious on lands falling under KIADB and in future this ordinance can apply to parcels converted in past as well.
Please click http://www.deccanherald.com/content/436883/govt-bans-use-kiadb-land.html
Sorry for interrupting. I wanted to discuss on a slightly different topic. My understanding of the current situation in Bangalore real estate is that the apartment prices are very exorbitant currently and very few transactions are actually happening. However, the silver lining is that There is DEMAND for housing. Only thing is that there is a big mismatch between the sellers price and buyers affordability. If this gap is bridged, I feel we can see a good amount of sales happening. So my question is what is a realistic/decent sale price in today’s scenario?? Can people share their thoughts on this. Of course the sale price would be dictated by Location, Builder brand, facilities/amenities provided and Legal paperwork.
In particular, I wanted to know what would be a reasonable/affordable per sqft price (all inclusive price including base price+PLC+VAT+ST+amenities charge etc but excluding registration) for:
Whitefield after Sai-Baba ashram, Mid-range builder, amenities like jogging track, club-house, power backup, swimming pool etc; Not much open space; high rise
Hari,
You are cent percent correct.
Hardly few transactions are happening here and there – These builders are really so greedy Many a cases they purposefully violate the rules and build the sub standard stuff – If you notice really good amount of properties in Bangalore are not having OC/CC..Almost all the builders are not capable of finishing their projects within the committed time – what they do is simple rise the slabs to get the customers max loan contribution from banks and they sit idle as they wish..In some or other way its a great corporate nexus (Builders + Officials + Banks/FIs)..
I really feel this is the fate of common man and only solution left for him is to stay out of these greedy croco’s and their tactics…There might be few builders who could be geniune – So really search for them before investing – Its a life time for most of us – So there shouldn’t be a chance
to regret on our own decision…
Mean time I would request all my friends to go through below link which speaks about real time status of Indian Reality Business..Please go through it..Do check the report (http://content.knightfrank.com/research/659/documents/en/india-real-estate-outlook-2262.pdf) for better understanding of the discussion in above link..
Good Luck – Decide wisely and be Happy..
Sorry I forgot the link I am supposed to mention in above comment…
Here it is
http://firstbiz.firstpost.com/economy/properties-shouldnt-get-expensive-real-estate-consultants-just-rigging-home-prices-96319.html
First of all would like to thank everyone on this forum for their comments/suggestions/caution on Assetz Marq. While the research on internet really helps but at the end its us who spend our hard earned money to do the groundwork and make an informed decision. I have booked a 2BHK in Block 3 and keeping my fingers crossed hoping everything works as per plan 🙂
Have they got all approvals? has anybody verified all the documents?
Hi,
I have purchased a 3 BHK in marq in early pre-launch.
As you are aware the project is in pre-launch and they have got all leading bank approvals and required approvals to start with the excavation and final approvals are expected soon. This is common with all pre-launch projects.
This is one of very good mixed use development in that surrounding and high potential for growth and since I know the realestate and how the market works I do not agree on some of the below comments from anonymous people.
If people have opted out of the project for their own good reason, suggest stop creating mess on this forum pls.
Looks like MarQ is Assetz marketing agent in the guise of builder. People have raised genuine concerns about the payment plan and have taken an informed decision of opting out of the project. If you know real estate so well and if you know so well how the market works and if you are so confident then you can buy the units which people have cancelled. Dont be overconfident my friend for time and tide wait for no-one. So, called market experts have bitten the dust in stock-market and real estate is no different.
Folks,
We need to have a open discussion and lets be fair to Assetz team.
ppl who have cancelled can share the review but not with the intension to harm the existing customers or investors and given that this is an excellent project at excellent location and with a clear titles.
So why cant we start putting some positives and give some confidence to Assetz and also to customers/investors who have invested.
I am starting first….
Positives:
1. Assetz building brand value and leveraging there existing commercial development and international experience.
2. International brand and support from various equity stake holders
3. All existing projects (27 park ave, east point, lumos) are of high standards and in excellent locations. Excellent Execution sofar.
4. ICRA 6-star rating for there existing eastpoint and lumos projects.
5. Marq being a complex mixed use development with international architect giving the touch.
etc….
yes. all papers are clear…
verified through lawyer…
Thanks guys..have they promised to give occupancy certificate during possession?
If they promise to give the OC, will you buy? What if they break the promise later, which is very common in indian real estate.
Hi Aayush,
If all these things are covered in agreement then there should not be any problem. As i know, authority approvals in bangalore are not a problem is the builder does not violate usually its the construction delay that hurts
Yes, the project has all approvals in place
Marq Review.
Here are the hidden facts about Marq, I know as I have cancelled my booking due to the same reason.
1) Aggressive Payment Plan – Here is trick Builder nicely taking buyers on fly. They have 2 low rise and 1 high rise (7 and 26 Floors). Payment plan is not aligned and MIVAN technology they are planning to construct lower floors in less than 1 year 3 months. By the time Buyer will pay 90% of money, and will beg builder to finish Apt. Apt possession is May18. Means more than 2 years you will pay just pre-emi of 90% amount. By the time of possession the cost would be 1Cr for 3Bhk2Toilet.
2) Pricing – 4200 Fantastic..? No, The taxes and other things are so much that 3Bhk2Toilet Reach to 85 Lacs easily+ Huge Pre Emi Interest (Near to 20 lacs). Other builders same size Apt would cost 77-78 Lacs for 4200.
3) Builder is maintaining Apt for 10 years. Which clearly means the NH3 and NH4 will be completed in another 14 years from now.
4) Extreme Unethical – Possession was promised Dec17 but when demanded by Owners to give a date, they cleverly changed it to May 18. And asked us to show written proof that Dec17 was promised. Penalty charges were reduced to 4 rs from 5 rs what their COO offered.
5) Extreme Penalty – If for any reason you break your agreement post signing. Then you have to bear 25% of Agreement value. Means close to 22 lacs for 3 bhk.
6) Extreme Harsh CRM – Few members of CRM are really harsh and they come to bite you for any genuine questions.
7) Difference in Model flat vs Actual Flat Spec – Doors, Bathroom Tiles, Bathroom sanitary fixture, Switches, Sink, Dado tiles of kitchen, of Model Apt are FAR SUPERIOR than actual apt. They are misleading buyers by showing false Spec.
8) Really Avg Specification- Check the Model flat Aluminium doors. you will understand the Spec giving. After giving 80-85 lacs you definitely Deserve UPVC. Bathroom tiles are plain. Switches are roma or anchor.
9) Really Avg Floor Plan – 1650 3 BHK has room size of 12*11 and 12*10. And pretty cramp plan.
A lot of owners including me have cancelled due to non professional attitude of builders.
You forgot to mention that 2 bhk is sandwiched between 3 bhks and has 2 common walls (We already have most of the builders in bangalore positioning their offerings as no common walls). Why wud a person buy a 2 bhk for 73+ lacs and get an appt with 2 common wals and one balcony?
Thank you very much. I was planning to book one apartment and was considering Marq. Now I know which one to strike out from my list. Your post really saved me big time.
@Aayush: Surprising that you are solely relying on posts to make your buying decision ! Should you not visit the site and see that yourself? Or are you from some competitor trying to tarnish Marq’s project with such comments?
Guys, Each and every word is correct. Now builder has changed aluminium to UPVC…and is calling back the ppl who left the project to reinvest. And payment plan is also relaxed as around 40-50 ppl left the project. I just want ppl to be aware of facts before buying… Else I had many more things to write… For example builder sold unapproved floors too…builder asked to pay 20% without showing any paper.
The papers are crystal clear. And project is planned well…..but builder is greedy than other builder. For example 10% upfront after 20%. He is taking even bwssb, bescom, club house charges, generator and reticulated pipe line charges along with each instalment. Generally other builders collect it at possession.
Hi Anonymous,
Yes the builder has changed the spec without increasing cost – Good Sign.
Calling back the people who have cancelled – Good Sign. Its never too late to rectify mistakes.
They are not selling any approved units. They have given options to people who booked earlier to change – Good Thing as you would not have got loan approval on the unit.
Every builder is greedy for their cash flow. I have seen many builders asking for 30% upfront.
Builder has not clubed the BWSSB, BEscom etc other charges in the payment plan. I have got this clarified. All the other charges will be collected on possession.
Please dont go on creating negativity about project bcoz u have cancelled.
My Mistake..and Apology.Yes builder is taking other charges at possession. But he is taking the club house charge, and VAT too. Vat portion I am not sure though but other builders take VAT(4%) at possession. As there are 2 types of VAT so I choose not to comment.
1) 20% – Point is it was clearly communicated to Builder from my side that until unless you show the paper, you can’t expect 20%. I have written proof of it and they also agreed. And Assetz is not “A” class builder and has finished hardly 1 Apt in Bangalore which is very costly (4-5 cr). So no guarantee of his construction quality for other less than 1cr Apt.
2) Why the booking and allotment letter is given for unapproved unit? It’s illegal you may go and check with any lawyer.
3) The builder understood the intentions of the ppl who were ready to cancel with 75k penalty also. So many blunders committed by him could have spoiled the name and fame. And that is the reason forced him to refund full money.
4) Now builder is “relaxing the payment plan” and calling all x-buyers including me. You guys should thank to us for our protest, the reason why the project is benefited with better specs and less exploitations.
And its not negative review..It’s review. A buyer has all right to know pros and cons of project before booking. I am trying to make them aware of facts. I have already written that project docs are crystal clear and project is well planned.
And the project is one of the best for investment or end use purpose.
And finally..If all builders are same then all buyers all also same. If builder exploits and dictates then we are ready to be exploited or dictated. At least some of us have given a tight lesson to builder to not to consider buyers helpless.
Nitesh Virgin Island is opened at 4200/sqft …
Plans look better.
Dear Alec Smart & Smarty Pants (if anon. is 2 different guys)
I don’t want to be a keyboard warrior, but this nonsense has been going for too long now, or is your misplaced anger due to missing the bus.
1. About the grudge: Many congratulations for investing elsewhere in your respective el dorados where what the salesperson says is going to be Ram bhagwan’s words. If there are 40-50 people who have left (no proof though) then there are 60-80 who are invested & this is adding up. There’s no point in holding grudges against Marq as they have returned 100% of your booking money. I know you’ll start flaming this post but here’s what I want to say This is business, the conditions that you find bad are what every builder in Bangalore practices. If they cheat you, don’t give you proper papers, don’t give your booking amount back, that’s what’s called cheating.
2. All builders are bad: I agree, but am appreciative of the fact that Marq is willing to learn from it’s mistakes and change rules. How many of the builders do this. Prestige doesn’t give you paper before they take 20% either, Marq didn’t do so, it has changed the payment plan b’coz it realized that it’s bad for biz. It sounds like a great roi opportunity now.
3. Pre launches: These are always risky, as you have rightly said the builder is greedy, but then we too are greedy b’coz we invest in pre launches which are full of risks. Thankfully there’s nothing illegal with this project as the papers are clean. There are no naalas or godowns also nearby.
We can have a long debate over all of your points most of them are invalid now, request your to drag your passions elsewhere.
Buyers, please make your rational decision, go to the site, do your calculations. I did so for myself, I too fought for specifications, payment plans, retail etc. and they have considered these and changed most of these.
Dear Mr GWD….
1) You want a proof, shoot to Assetz office and ask numbers. Or ask any buyer who bought initially. Builder is not doing favours by returning back our money, they wasted precious 3 months. All the conditions are discussed and communicated to Builders from our side. You may want to note that builder agreed verbally but when it came to written he took off his hands and told not possible. Dude ppl who cancelled the bookings are 2nd,3rd or 4th buyers. So don’t think they have not dealt initially.
2) If all builders are bad than I buyers are fool too. I chose to be a different one. Happy that many of us raised voice against it, and that is the reason they learnt a lesson. And changed various facts. If you do not fight for your right then who else will? Prestige and Brigade are world class builders who have executed various projects. And Assetz promised us that they will not demand even a penny than 5lacs without showing papers. Assetz was not even showing papers, and telling to come to office as they have kept a copy. Prestige, Sobha and Brigade give you a CD the day you book the project, unlike Assetz.
3) Dude..really sorry to teach you definition of Greed and Investment. We are investor, paying price to current market rate by taking high risk of delay. Paying price construction wise without delay, if delayed pay penalty. Greed is asking something for which you have not even started work or finalised the construction company…who else takes 30% upfront please let me know….
I also found out from Prop Tiger and LJ Hooker that their entire Sales team has left the organisation because of some internal politics/ whatever and there is absolutely no one to sell, the Projects, CRM and Telecaller teams are trying to sell the project by sending these spineless communication.They have been shifting their Launch date every 07 days because of zero confidence of their ability to sell and its a BIG JOKE when CRM states that they would give us at the same price, they should actually now sell this project at 20-25% discount. They just want our money folks with NIL planning and customer focus. In a year’s time we should see even sold units coming for resale which will never allow the price to go up.
I will wish all the best to anyone who bites the dust again.
Thanks
Hello suresh and MarQ owner,
This is open forum, the information given by anon person would be really helpful to end user while selecting the project not only Marq but any other project also. End user will keep this thing in mind while buying the property. I personally moved out from this project due to High maintenance charges, new floor plan (not good), place where you dont get underground water and you pay huge amount of money. Lets everyone share information 🙂
OH MY GOD….. cancellation of agreement is 22 lakhs for a 3 BHK..???? REALLY ..?? This is surely looting of gullible investors and trapping them until possession once they sign the agreement.
They can charge more than nominal amount for cancelling but no so exorbitant ????????. Do they want to loot customers by charging 22 Lakhs as penalty ???? Why should any customer pay so much to the builder if he is cancelling and not getting anything at all…..this is ultimate. “This is where real estate regulation bill is the need of the hour to prevent all these one sided agreements which seems to loot the homebuyers and his peace of mind”…..
HI All,
The things made by Anonymous ( made on Sep 24) have valid points. Even I had been there to invest. After the initial hunky-dory slowly I realised what I am getting into.
The 2 nd and 5th point are highly ridiculous. Though the initial basic cost of 4250 looks attractive, it is actually not so. Lots and lots of overloads and taxes.
The 5th point is outrageous. PENALTY of 22 lakhs for a 3 BHK for cancellation…???? No CAT A builders will charge so much penalty not even Sobha, prestige, brigade and the likes. This is ridiculous amount. Why do customers have to pay around 22 lakhs to the builder if he is cancelling and not getting ANYTHING from the builder..????
That can charge more than nominal amount for cancellation charges, but not so outrageous amount as 22 lakhs as cancellation charges….????????. Nobody should agree for such level of exploitation of homebuyers !!!! This is where the “Real Estate Regulation Bill ” is highly necessary in this field.
But still with all the configurations also, if you calculate the final price of 2/3 BHKs are too high. Usually CAT A builders charge premium rates as the have established themselves after many many years of struggle and after proving themselves with lots of quality projects. But nowadays every other builder have started charging premiums just after 1 or 2 projects. This is tooooo much…..I prefer to invest my hard-earned money in CAT A builders if I am paying such high final prices!!! And not some new builders.. I am ready to pay premium for CAT A builders like Sobha, brigade, prestige,,purva etc as I am confident of getting definite returns for my money if I plan to sell also…. So, ultimately its individual’s opinions and their wish….but do take calculated and informed decisions !!!!
Thanks.
What is the current psft price? It is launched or still in pre-launch phase?
I m planning to book in Assetz Marq..I have a query regarding the payment plan..after paying the initial 5lakh the remaining 20% (minus 5) is supposed to be paid in 10-15 days as they state or they are flexible on the duration say to 30 days..people who have booked can you please respond..
Hi Iqbal,
They are very aggressive in payment plan.
regarding your query, they may make it bit flexible (don’t expect in months) if you talk to them before booking..
take it in written.
– thanks
Thanks for the reply.. will do as you mentioned..I reckon u must have booked there. How was the booking process and the formalities after that. Are you satisfied with your interactions with them?
yes, I have booked.
Booking process is ok… as usual…this is smoothest part of buying property..
If you are practical buyer and aware of practices in real estate (Bangalore) then you can say I am satisfied…
if you are expecting five star treatment and buyer friendly terms n conditions…stay away..not only from this project but all real estate projects 🙂
Hi Iqbal,
Booking in Marq is really a risk if you booked in lower towers. According to the plan (tentative date plan) they shared, most of the money (~90%) will be released by March 16.
And they will give Possession on May 18(Agreement Date) .
I have some cash now so continuing. Please book Tower 3 (26floors) if want to avoid it.
As it is having better payment plan than other 3 towers.
Hi Iqbal,
The payment plan is changed now and relaxed a little. Its upto you now to decide. For the balance 10% after 20% you can negotiate with them.
Hello,
Its another trick… Generally with Mivan, it takes 15 days to build one flr, so obviously they will demand atleast every month.. same old agreesive plan
There is another project called Serene Town (from VBHC corporation) very near by. They are also using MIVAN technology. And their payment schedule says, they can complete a floor in 8 days.
If they can complete a floor in 15 days, then they will demand every 15 days.
When it is construction linked and demand is raised at completion of each stage then there is no point in calling that payment schedule as aggressive.
Only thing, we need ensure is, time frame for all-floor completion to possession should be less. This is where a buyer suffers.
Most of the builders delay in this slot. They don’t have much to loose because, 80% of payment is done by the time all-floors are completed.
They may give time . But for payment for remaining 20% and 10% , if you do not pay the required amount as per schedule , they will charge 14% per annum penalty for the number of days delayed even before you have signed the aggreement.
Hi,
When is the project going to launch ? Also, from an investment perspective which is better Assetz Marq or Prestige Gulmohar.
Hi Jatinder,I came across one more project recently launched at hope farm junction, Alchemy urban forest. In similar budget as assetz you will bigger 2 bhk wid better configurations.You will have def. location advantage itpl, metro n PRR. Alembic group is new in Blr but have completed 2 prjcts in Gujarat successfully.
@Arpit, start putting adv for alchemy in all the new launches! What a strategy!
What is your problem, Somebody asked a question And I answered. I was searching projects for me and looking into all forums but I am not able to understand what are you doing in all forums when you already have bought long back in sunrise tower, the best project in Whitefield in and around area by best builder in Bangalore, not in range of ppl like me.
@Arpit,
What does your comment mean? Only people looking for flats are allowed to comment?
And What is your problem? You have bought in Alchemy and what are you doing here?
@Arpit, Best Project = Alchemy UF as it not existing at the moment, best builder = Alchemy as this is their first project in Bangalore and affordable for everyone as it is only 4390/sft (base price) + 40/sft/floor + 100/sft (for premium view) + car park + etc. Bonus is you have enough time to arrange for funds as it will take another 3 years!
Hello Interesting,
I dont understand why are your hopping in all the forums, I see your comments everywhere.. If you have already booked apt in DSR, why are you commenting in other forums and that too providing wrong information…
If you are paid for that, then please stop this and let people kow the real facts..
Hello Truely, First of all this is an open forum and no body can prevent others from commenting. What you mean by hopping in all forums? I dont have time to do that anyway. Meanwhile I was just replying to Arpit!
What wrong information did I provide here. Please let me know. I will surely correct it.
By the way, why are you so hurt?
@Arpit, and will stop this fun right now 🙂 as it is not relevant to Assetz Marq which I feel is a good project. And dude, I am not saying Urban Forest is also not a bad project! It is good scenario that end users have lot to choose from!
Interesting, I have booked very recently so def. was looking in all pages. Remember there is always a first n floor rise in UF is 20 not 40.
And last comment from you is best so far, Its time to stop. Cheers..
Which is the nearest metro station from this project?? What will be the distance of nearest propose metro station??
@harsha : Can you please through some light on this?
within 1.5-2 km…kadugodi/whitefield station
An article from Assetz on whitefield
http://www.assetzproperty.com/assetzhomes%20report/Marq_Flipbook/
san
Hello Assetz Marq Owners,
We are group of people, who have bought an apt @ Assetz Marq and formed a Google & Whats App group, to discuss & share various common topics/updates and discuss it further with the builder as a group.
We request all the owners to join this group and be a part of bigger forum to represent your voice.
Please send your Full Name, Apt No and Contact No. to below address
assetz_marq@googlegroups.com / assetz_marq+owners@googlegroups.com
Regards,
Assets Marq Owners Group.
I had sent a mail to assetz_marq@googlegroups.com . It got bounced . Please check if this is valid.
Hi,
I also tried to send a mail to assetz_marq@googlegroups.com but the mail bounced. Request to add me also in the group. My mail Id is aim.deepak@gmail.com
Hello Assetz Marq Owner,
Some of your were not able to send email to
assetz_marq@googlegroups.com / assetz_marq+owners@googlegroups.com
Please send your details to below email ID.
marqowners@gmail.com
Regards,
Marq Owners Group.
Hi Guys,
I dropped a mail 10 days back on marqowners@gmail.com but got no response. Hence checking if this group is still active ??
whats your mail id? I will add you.
Its gaurav0106@gmail.com
Hi
I have booked an apartment in tower 3 can you please add me to this group.
Is this group still active?
Regards
Viks
what is ur mail id?
Its…
vishu.blr81@gmail.com
Thanks
Viks
Its vishu.blr81@gmail.com
added
VK,
I have booked B054.
Please add my email id into the group. My email id : Vvrkumar@yahoo.com.
Thanks.
Ram.
Is the group active?
I have booked a 2BHK apartment in this project can you add me to the groups.
Neighbourhood 1, tower 1, A block 8 the floor apartment no 3
whats ur mail id?
Hi
Please add me as well .I bought F111.
My mail id is amit.mnnit12@gmail.com
Regards,
Amit k Singh
Bounced for me as well
Kindly add me harshavardhan6192@gmail.com. C081 G+29
Please add me to the group.
I bought E101.
Regards,
Vinay
Hi, Same here got a failure notice in gmail. please add me too aarunt@gmail.com .
Please add me to this group(praveenace254@gmail.com) I have booked a 3 BHK in Marq
Please add me to this group(mallikarjun19@gmail.com) I have booked a 2 BHK in Marq
Evaluated lot of 3BHK in the region. Need one for investment purpose. Finalized this as the BEST from ROI perspective. Planning to book over the weekend. I am sure price will increase once it is launched.
Yes Jagmeet same here. I booked a 2BHK recently. Selling team is genuine in terms on not reducing a single rupee for anyone. This gives confidence in their internal systems to me!
Friends,
Is there an oppurtunity to reduce price; the builder is firm on 4200/- ?
no, its fixed. They are going to launch in last week of Aug or first week of Sept.
yes builder is firm on the price as its pre-launch and you can expect the price to increase soon. Looking at the project size, plan, amenities etc and the future potential of the location its a good investment i feel.
I have booked a 2BHK recently.
Guys,
Do you think neig-1 is good from sunlight point of view? I see all flats are north/south facing.
I think sunlight is must in apartments, Which tower is best to get sunlight?
I m leaving in nitesh north facing bit there is ample light in d apartment if u look closely centre of the apartment are open which will bring the loght to each flat… like nitesh
VK,
Sunlight comes from Balcony, windows more than main gate. Kindly check the window locations of bedroom windows where sunlight will come in morning and then balcony, where it will come later.
I booked block 2 flat 1 for the same reason.
Thank you guys, got it.
http://articles.economictimes.indiatimes.com/2014-08-05/news/52470987_1_credai-purvankara-projects-tulip-infratech
excellant article..we shld have some judgement next month. I hope builders will wake up sooner than later
I received new floor plan from estate agency promoting Marq. Hall layout has changed, did anyone else received this plan.
yes, I have also received updated plan, this is looks good with more space.
I was skeptical to book with the old floor plan where living space is crunched. dining hall after foyer is a big No for me. Now new floor plan looks more sensible and further, the huge balcony is split to two balconies.
All this comes at any extra cost though. Overall thanks to Assetz for heeding into our advice and changing the floor plan. Hope they do the same with huge VAT and ST
Guys,recently visited the site and gone through the details of this project. I was expecting great things from this builder but totally disappointed after looking at their plan. Following are my reasons
Flat density: 23 acres-1800 Flats( 78 Flats/Acres).
All flats are sharing common wall. Will loose privacy unless some special arrangements are made to ensure sound proof to some extent
All bed rooms are clubbed together on one side
But good things are
Location-proper connectivity with rest of the City
5 acre commercial space and School
Regards,
Gaurav
New floor plan is not looking good. No sunlight in hall, no window for light.. I have seen such apartment… Lost interest in this project…
Yes I hv also reveivd d nw plan. Whoevr has bokd d apartment hv they chk ..that doassetz hv all d approval
….
I have booked a flat in Assetz, and I have received the cost break up. The charges attributed to Service Tax and VAT looks way too high compared to what is being charged by other reputed builders.
ATC refers to the construction cost excluding the land cost. This does not include the car park, club house and premium location charges. As per Assetz cost break down, there are 3 components of ST and VAT included:
1. ST @ 12.36% on total of car park, club house and premium location
2. ST @ 4.94% on ATC
3. VAT @ 10.15% on ATC
I had an opportunity to consult an expert who has confirmed that this is not norm, and is a case of overcharging buyers. As per his opinion,
1. Assetz should not be charging us ST on Club houses, nor levy 12.36% on Car Park and PLC
2. Overall ST should be in the tune of 4.12% of ATC+(Car Park+ PLC)
3. VAT should not be 10.15% of ATC, but only 4% of ATC or in best case 2.5% of ATC
From this perspective, let me CAUTION prospective buyers, and those who have already paid the booking amount to validate the charges with CA or other real estate consultants, and accordingly raise this issue with ASSETZ.
Those who have invested in Assetz or planning to should collectively discuss this with the Assetz team.
Harsha, would you have any comments/inputs pertaining to this?
Thanks,
Rakesh
Can you please send me the final cost sheet Marq provided including VAT and Service TAx .with normal tax , ST and reg a 1234- 2 BHK should cost around 73-73 and 1457-3bhk around 86 . Is it more ? than why i wrote above . Please send me the cost sheet with vat and tax calculations at
guptaajayjammu@gmail.com
I just want to see if the VAT and ST is near to normal rates , if not how high it is
Hi Friends,
Please clarify the below doubts for me
1) Assetz Marq charging 10.15% as VAT charges, whereas other A list builders like Prestige is charging only 4%
2) Assetz claims to be charging registration cost on guidance value which is 1000Rs/sqft. whereas other builders charge 6.7% of basic cost. Which one is appropriate and believable
3) Assetz Marq provides 1800 apartments in 23 acres which makes around 79 apartments/acre which is too high. They claim that as per the FSI standards. I am worried about my undivided share
4) Have they got BDA and other approvals for the entire 23 acres or is it only for the neighbourhood1 which is open for sale?
5)Is there a service tax on car parking?
6) The Big Question…Is Assetz a trustworthy group with healthy balance sheets and profit margins. Havent seen much of their projects!!!
Expecting a positive reply from the group
Thanks
Pradeep
positive reply.
1) can you tell me 10.15% as VAT charges,of what and only 4% of what?: kindly do some research on how the VAT can be charged on net. btw i believe all builders cheat here and govt should have strict guidelines and we should pay govt directly.
2) how do u know in 2018 or whenever registration happens what will be guidance value and what will be registration cost?
3) these are high rises. i booked because of green space in between…i am not sure which big builder will give 4 floor apartments and high undivided share
4) no idea..appears not else they would have opened others for booking
5)Is there a service tax on car parking? this is illegal as per SC ruling
there are hundreds of pre-launch and launched projects, choose wisely as per your location and need
have added Warrier.site@gmail.com and pradeep to the buyers group
Ravi,
Could you please add d.sharathbabu@gmail.com to the group. I own 3 BHK in F-Block.
Hi Ravi,
Can you please add basuamarjyoti@gmail.com to the group.
Rgds,
AJB
can you also add mvreck@gmail.com to owners group. have booked 3bhk in A-block
Please add vikashshroff@gmail.com to this group. Own a 2 bhk flat in that
Hello New Owners of Assetz Marq,
Pl confirm following details to below email id’s to add in owners email & what’s up group
1. your email,
2. mobile no
3. apt no
jpshukhla@gmail.com
gautamrgaikwad@rediffmail.com
Regards
Gautam Gaikwad
Hello,
After huge frustration. have cancelled my booking @ Assetz Marq for good. I may not be able to give you updates on its development…Pl excuse.
Thankyou & Regards,
Gautam Gaikwad
Hi Gautam, what was the reason for cancellation?
Hi
You will find the reasons provided by anonymous .. I am also one of the initial customer who got affected because of it and took right decision to move out…
Regards
I think your decision was wrong. Found this on their website
http://www.assetzproperty.com/marq/projectwalkthrough.php
I am convinced about the project and booking an apartment this weekend.
Ha Ha Ha…..
Go Ahead… All the Best !!!
May Your Decision be right
please add siddharth.jyoti@gmail.com in your group. I booked 2 bhk flat there
done..welcome to group
Please add me too gaurav0106@gmail.com. Have booked a 2bhk in F Block, dropped a mail on marqowners@gmail.com 10 days back but got no response.
Sorry Gaurav, I may not be able to help you as, i am one among them who have have cancelled my booking there.. I will send ur email id to right person.
Regards,
Hi Ravi,
Please add amit.mnnit12@gmailcom also to owners list.
Regards,
Amit
Pradeep
DId you get some kind of indicative cost sheet with tax included . Generally builders gives a full cost sheet with current applicable taxes . Everybody knows the taxes can change in future . Generally tax is around 10% . 4-5% VAT and 5 % service tax . If they are showing it as all VAT of 10% , it is still ok . But if they charge 10% VAT and 5% Service tax , than this is new . I hope you have spoken to an idiot sales guy other other wise 15% tax is new , something dicey here . Don’t think there were any new taxes in this budget . I spoke to my old builder a month and he told me it was close to 10%( 4-5% vat + 5% service tax)
INR 1000 per sqft reg is also new . You are right reg is around 7% of the sale value mentioned in your sale agreement . With INR 1000 per sqft , reg cost will me more than 20% of sale value for a 2 BHK . This doesn’t sound right.
If you have received anything in written please share with us . If what you are saying is correct than i am surprised how people are buying MARQ without even knowing as indicative cost with current applicable taxes. It will be really expensive . One will end up paying easily 10 lakhs(for 2 BHK) more than what you will pay for a brigade or prestige house of same specifications . reselling will be really impossible for investors .
Who so ever has booked , guy confirm these things , what pradeep has written is definitely NOT GOOD
Pradeep
If i am not wrong Assetz is an international real estate company . AS per their website they currently have 6.2 M sqft of space under development . As per numbers on their website , they are much bigger that brigades and Prestiges . They are than like DLF and Unitech . Funds for them should not be an issue . They will get cheap funds overseas . If i were to buy a house, i will believe/bet on Assetz more than DLF or Unitec to deliver .
Also service tax is on whole amount other than the maintenance advance and sinking fund .
My issue is taxes and reg cost you have mentioned that is making it sound like Not that a smart investment
VAT and service tax are charged on construction value only
VAT – 14.5% on 70% of construction value
ST – 12.36% on 40% of construction value
Some builder may charge on the complete amount but a lesser percentage without splitting
the total cost to land and construction values.
Assuming equal share of construction and land cost, if your flat cost is X lakhs then
as per above formulae VAT= (0.145*0.7*0.5) * X = (~5%* X lakhs)
Hi Friends,
Here goes my analysis
Cons
1. As far as the breakup provided by Assetz sales team, construction cost is around 70% of the basic cost so we need to pay tax on 70% of construction cost. Say for an Assetz Marq 3bhk it will translate to 10.15% of construction cost. Qualitatively its around 1-1.2 Lakhs more we pay on 3 BHK house compared to a 3 Bhk in prestige or Mantri (only VAt of 4% on basic cost). Conclusion around 1-1.2 we pay more on VAT (just for info BRS consultants are doing the auditing for Assetz who are believed to best in business)
2. I really doubt where they would be able to complete neighborhood 1 in 3 years as they claim. My assumption 3.5 years to 4 Years.
Pros
1. Best rate 4200 per sqft around 5 Kms radius in whitefield for such a mixed use development project of this scale
2. Absolutely wonderful location that to on the main road.
3. chances of cauvery connection as the project AWHO opposite to Marq is getting one in near future. This will easy the maintenance burden on owners.
4. I checked out the cost sheets of prestige, brigade and mantra and Assetz cost sheet looks way clear and it looked like, atleast for me that we might end paying more for these big brands. Most of them left VAT, service tax, SD and registration to our imagination by not including in breakup
5. As it launched just now, plenty of options to choose from. Pocket friendly premium charges.
6 I have seen some of the comments about the ROI. if 1497 sqft house now at 4200 sqft sells for 1.15 crore in 2018, 10% compounded interest is the return as per my calculation. 1.15 looks a soft target so I bet one will be fetching minimum 15% returns. Here I haven’t considered loan interest. Comparison is between returns bank deposist/equity vs ROI on Assetz Marq .
As pros outweigh the cons. I went ahead and booked a 3bhk in Marq. Hope this helps prospective buyers to make wise decision. Happy Investing !
what is the UDS (percentage)?
what is the downpayment for agreement signing (20 or 30%)?
Hi,
I am little confused on couple of points, appreciate if someone can clarify
1. is it 1800 or 2500 apartments coming up in 23 acres?
2. what is the size(acres) of neighborhood-1? How many apartments are planned in neighborhood-1?
3. does the high tension wire pass through neighborhood-1?
4. advantages of booking in block-3 compared to other blocks in neighborhood-1
Thank you Pradeep.
Any idea about price of (total cost excluding reg) for 3BHK (1601sqft)?
I am looking for 3bhk with 3T.
Hi Mini,
Its depends on the floor and view(court yard facing or landscape facing) you choose. Lets say with current prices it should cost you anywhere between 87 Lakhs – 93 Lakhs. Approach the sales team they would be happy to help you.
Regards,
Pradeep Grandhi
Hi Vijay,
As per discussion with the sales team.
1) Its around 1800 to 2000 apartments for 23 acres
2) 360 to 380 coming up in neighbourhood-1 which is of size 4 acres
3) As per my understanding no high tension wires through neighborhood-1. Infact sales person claimed that there are no high tension wires which pass through the project itself. which I doubt
4) Advantages of booking in block-3(26 floors) might be better view if you book one on higher floors and personal preference. As per the layout design, each block has its own advantages. sunlight and ventilation shouldn’t be a problem I guess. you ask my choice, pick a corner flat which ever block you want to book.
Hope this helps.
Hi,
There are no high tension wires in the project. Going further , you could see the high tension lines after mahaveer project ( good distance from this property too )
There are high tension wire in the project which is in middle where I guess they have planned the main drive way. neigh-1 no high tension wire.
I am planning to book a 3 BHK, they just forward me the specification details, to me it look as avg quality and now I am little confused. Did anyone else got the specifications how does it look?
Hi Mini,
As communicated by the sales person, Actuals we can only verify in agreement.
Undivided share will be around 350 to 500 sqft for a 2bhk and bhk
Carpet area is around 72% – standard by most of the developers
Cost breakup is quite clear. Down payment for agreement is 20% of basic cost – your initial book amount (5L)
Regards,
Pradeep Grandhi
Thank you Pradeep.
Any idea about price of (total cost excluding reg) for 3BHK (1601sqft)?
I am looking for 3bhk with 3T.
I have booked a flat in Assetz, and I have received the cost break up. The charges attributed to Service Tax and VAT looks way too high compared to what is being charged by other reputed builders.
ATC refers to the construction cost excluding the land cost. This does not include the car park, club house and premium location charges. As per Assetz cost break down, there are 3 components of ST and VAT included:
1. ST @ 12.36% on total of car park, club house and premium location
2. ST @ 4.94% on ATC
3. VAT @ 10.15% on ATC
I had an opportunity to consult an expert who has confirmed that this is not norm, and is a case of overcharging buyers. As per his opinion,
1. Assetz should not be charging us ST on Club houses, nor levy 12.36% on Car Park and PLC
2. Overall ST should be in the tune of 4.12% of ATC+(Car Park+ PLC)
3. VAT should not be 10.15% of ATC, but only 4% of ATC or in best case 2.5% of ATC
From this perspective, let me CAUTION prospective buyers, and those who have already paid the booking amount to validate the charges with CA or other real estate consultants, and accordingly raise this issue with ASSETZ.
Those who have invested in Assetz or planning to should collectively discuss this with the Assetz team.
Harsha, would you have any comments/inputs pertaining to this?
Thanks,
Any one has check on the registration charges? Assetz is saying its going to 6.6 % of agreement value or govt guideline value whichever is higher. So its coming around 6 lacs for 3 BHK.
Any one checked??? Got any update? I am not booking only considering this.
6.6% is correct value . So no issues here
I have checked with the other A or A+ category builders they don’t charge on the agreement value. They charge on government guidance land value.
It is your duty to register your property on agreement value. Builder will say guidance value because by this way property price will look cheap.
Problem is few customers are not willing to pay proper tax…they are encouraging bribe culture…finally blame system / politicians and govt officials. They themselves are fully corrupt and responsible for this environment.
Read this clause in home loan processing for SBI.
“Please note that registration of the property will have to be done for the same
value as mentioned in the Agreement for Sale or the guidance value whichever is
higher.”
Hi All,
Ppl who have booked a flat in Assetz Marq please join the group assetz_marq@googlegroups.com
Thanks,
Jitendra
Hi
Please add Warrier.site@gmail.com to the group. We have booked a 3 bhk in marq
Girish
I have sent the request, I have booked a 2bhk
Hi Manu,
For some reason I do not see your request. Can you please send a mail to jpshukla@gmail.com
I will directly add you.
I tried sending an email to the google group, but bounced. I have sent you an email as well. Can you add me to the group please?
Regards
Rakesh
Please add basuamarjyoti@gmail.com to the group.. have booked F182.
Thanks.
Please add pradeep.grandhi@gmail.com. We have a booked a 3bhk in block 2.
My email id is sha.aha.uk@gmail.com, Please add me to the group, booked 3BHK
Friends, please can you add me goutham.ganji@gmail.com
Dear Jitendra,
Please add me in the group. Have booked a 2 BHK flat in I block
Please add me in the group. Have booked a 2 BHK flat
Dear Nicloe
As per my calculations the final price for 3 BHK 1457 sqft should be 86.5 Lakhs(not 82) and for 1604 sqft it will be 94.5 lakhs with all taxes , stamp duty and registration . It could still be more as all calculations are approximations
Regards
Ajay
Hi All,
Thanks all, I have been following the forum and based on my own little research went ahead and booked a 1457 3 BHK unit. This is for own use. Based on the options available at the moment this does seem to be the good option for end use. I don’t have the detailed cost sheet from the builder but for 2nd floor with PLC the cost is coming around 82 Lakh. Please could you share the cost sheet at nareshd.jmu@gmail.com.
Regards,
Naresh
Nicole
There are 2 taxes 4.94% service tax and 4% VAT which is pushing the cost to 86. Anyway you can ask for final cost to assetz guys . My calculations may still be slightly on lower side . I feel the cost could still be more than 86 . If you can get the real cost from builder , please share with me also.anyway sent you the cost sheet
sent the xls to you
Hi ajay ,
Can you send me the deatails of how you arrived at 86 at nclfaria@gmail.com
Please include me into the google group. Have booked a 3 BHK here.
Thanks
udayshelly@gmail.com
plz include me to the google group as well. I bought 3 bhk
After doing some research on new launches in and around whitefield . I am also getting a feeling that MARQ is really good option atleast for people who want to live there .
If they can start construction by year end , than probably it will also be a good investment option also .I am going to wait till they do a formal launch . Large projects have big time delay between pre-launch and launch time . If project is delayed by 12-18 month , the ROI may not be good . Anyway who knows if this becomes a signature place like prestige shantinekatan or brigade metropolis that even after delay the ROI may still be good.
Sent my pricing calculations to
nish2482@gmail.com, ajk86in@gmail ,crmanjunath.m@gmail.com ,avi_talk@hotmail.com,gautamrgaikwad@rediffmail.com,jpshukla@gmail.com
As per my calculations , 2BHK 1234 should cost around 75 Lk at possession . Which included around 9% tax 5.66 Lakhs( 4.94 % Service tax and 4 percent VAT) and 7.5% 5.83 lakhs in reg and stamp duty (including bribes)
If any one has the final cost from builder please share with us
Ajay,
Please send me the price breakup sheet for 2 BHK 1234 sq ft.
Thanks
Instead of this why not buy a 3 bhk in Sobha Amethyst which is in the same area ? My friend lives there and it seems to be a very good society. A 1750 sqft here costs around 90L. And can earn rent of around 22k or, if moving in, save rent from day 1.
Nicole/Gautam,
Has any of you received the booking letter along with complete cost-sheet from the Assetz group?
Please let me know.
Hi All,
I also booked an apartment in Marq and got the cost sheet today. I think the taxes are on the higher side due to lower valuation of land and higher valuation of construction cost. Also they applied Service tax on Car Parking which i think is not correct. Other than tax i am worried about the payment term. They are asking for about total of 50% of the payment by commencement (not completion) of Upper Basement Roof Slab for the respective tower. About 80% payment On Commencement of Seventh Floor Roof Slab. I am concerned that they will take 80% of the payment in a very short time and then delay the project. This will result in huge interest cost.
Any thoughts?
Thanks
Manish
I visited the site today and found that the taxes are really n very high side. I dont think it’s worth buying with so much tax as other builders are not putting that much of taxes.
Hi Ravi,
No still we haven’t. I think will get it just before the agreement . But i am talking to the real estate consulting firm through which we have done the bookings. Will update it once i will receive it .
any idea when they are launching this ?
Also , Is there a google group for the people who have booked this apartment ? Can you please add me : nclfaria@gmail.com
Yes I have received the hard copy, however, there are some question, i have asked them on the Taxes, maintenance charges, and the payment schedule..
Booked a 2 BHK today morning.
Paid 2 Lakh as booking amount.
Rest 3 lakh is 10 days.
After payment of 5 Lakh, will be issued cost sheet and allotment letter.
Wonderful property for personal use. Great builder. Very glad to get at pre launch price.
My analysis says launch will be only Sep/Oct and price will surely appreciate.
Ppl who have booked a flat in Assetz Marq please join the group assetz_marq@googlegroups.com
Ravi
I have booked a 2BHK in D block. Can you add me (janikunal.78@gmail.com) to the MARQ group ?
Ravi
Please add jdlivi@gmail.com to the group.I’ve own 2 BHK in H Block
Hi Guys, After a very deep & long research in & around 5 kms, I have booked 3 BHK apt in Marq and i am completely satisfied and very happy to own one of the apt in Marq (own use). Its one of the biggest project (28 Acres) in that stretched and very well planned layout with consideration/offering for each age group. The price is very competitive, looking at the quotes and the other Amenities/space offering by some of other nearby upcoming projects of major builders. I found this project excellent & in terms of investment & self use and the price hike in last couple of year in this area is very good. The neighbour wood is pretty decent and definitely add to its premium. As its is surrounded by mostly Villas, it will stand tall and would have an excellent view and ventilation around. The connectivity to the Whitefield hub is far better looking at the free road (compare to other jammed road in and around Whitefield), it took me exactly 12 mnts to reach ITPL (7.1 kms) & Metro station is proposed to be just 3.5 kms from site. Overall I am very happy and proud owner of Assetz Marq.
Builder’s representative, Any discount for direct buyers?? How many units did you sell so far?
I think Mr. Vijay is a competitor’s representative unable to tolerate good projects around. Appreciate good things & highlight the bad things in this forum.
Well said Dk..!!
It is a remarkably good project and very well-planned.
As an FYI to the ppl who have bought here or are looking to buy, here is the first video from Assetz group about this project: https://www.youtube.com/watch?v=7j9e76x1_Hc
Even I think its the best project in that region provided, whatever promised, will get delivered on time with quality.
Even i got the same thought.. 😛
Hi,
Can you tell me what is the total cost coming to?
For 3BHK (+2T) it is coming to 80.8 Lksh (except stamp duty & registration > 6.67%)
I am not sure about other units
Regards,
gautam
Hi Gautam,
Any idea about the final service tax+VAT amount for a 2BHK/3BHK as per the complete cost-sheet shared by Assetz group?
The location of the project, the plan and amneties look good.
I have following concerns, if any one has an answer, please provide
1. Water availability in that area
2. Maintenance cost they are asking is Rs 4 per/sqft, which comes to around 5k for a 2bhk. Is this normal charge in other big project with amneties?
Hello Madhusudan,
I also visited site yesterday, major concern was on maintenance Rs 4 per/sqft.. PLH was 2.5 to 3 rupees per sq ft ( if remeber correctly).. I think they are charging more but need some more people to give inputs..
Maintenance charges are way too high. It should be around 2.5 to 3 Rs psqft. Most of the builders charge in this range.
PLH is Rs 3.75 psft
Yeah.. it was my first thought too.. but then considering the project size and amenities it seems relatively okay..And moreover we will have residential association that will decide it post one year..
I agree with you all, maintenance cost is really high @ 4/sqft compare to other builders and the place where i stay now which is equally big.
Further they say they will maintain only for one year. Ideally the They should maintain until completion of the full project (All neighbourhoods) and not just some neighbourhood/phase (after completion of the complete facility including important facilities like School, commercial areas, roads, and all relevant things). And the association for the whole project (including all neighbourhood) is in place. There cannot be different association for each phase.
There are couple of more questions, which i have raised to them and waiting for their answe
1. Method of Maintenace calculation and how arrived. (Flat Monthly Fee/ Per Square feet rate /Partial flat rate or Mixed approach)
2. Guidelines on the common maintenance charges and what will the rights for the Apt Owners. Whether it is will inline with Bye laws (Karnataka Apartment Ownership Act)
3. What about the funds coming from commercial space.
If any one has more info on this please share..
Regards
are you site they said one year? they told me that they would maintain for 10 years and paying 5k per month is something that needs to be thought also wouldn’t it be difficive it f rent if maintenance is high
Return expected 10.00% compounded annually with possession on 20-aug-19
____________________________________ Amt________ Months ___________Final value
compounding
Booking amount with interest____________500000_____________61___________ 829510
Agreement within 30 days of
booking______________________________ 1750482___________ 60___________ 2880083
Basement roof slab______________________583494___________54____________913396
2nd floor roof slab_______________________583494___________ 48____________869029
5th floor_______________________________583494___________ 42____________826817
8th floor_______________________________583494___________ 36____________786656
11th floor______________________________583494___________ 30____________748445
Terrace________________________________583494___________24____________712091
internal block work______________________291747____________18___________ 338751
Internal plastering_______________________291747____________12___________322297
Total with interest_____________________________9227075
Remaining payment at possession_______________398592
Money to builder for transferring sale deed_________150000
Final selling price to achieve 10% return________________________9775667
So if the builder is selling at 6550 per sqft on 20-aug-19 , you can get a 10% annualized return . Which means a 56% appreciation over 4200 in 5 years . Which is definitely possible
SO IT IS A GOOD INVESTMENT opportunity.Considering you can negotiate on 4200 to may be 4050 also
Ajay to calculate returns u also need to calculate the short term capital gains tax and 30% investment returns.
Same will apply to bank deposit also . I was just trying to see if it is better to invest in property or keep the money in bank . Seems like Investing in property seems to have better potential than keeping it in bank.
Well you need to do your numbers once by yourself also to be sure . Just like first time i got wrong by listening to a third person
Why the hell should anybody buys AssetZ marq when you have already constructed property like Nitesh Hill Forest selling for Rs 6000 p.sqft including everything. Never buy property from a builder . Do your homework. The maintenance is Rs 5 per sqft , which is too high ..imagine spending Rs 6000 per month for a 2 bhk for maintenance. There should be atleast 25% price difference between a already constructed property and a property which will be delivered after 3 years. it will definately take 4-5 year to complete this project .Dont buy in . U have real estate agents coming to this forum and professing all the gyan , which only helps them
Hi Shailendra,
From where did you get the information about maintenance cost as Rs 5 psft?
Is Nitesh Forest hills really selling at 6000 psft “All inclusive”? Does Nitesh Forest hills offers the same quality/amenities/luxury as Assetz Marq?
Look forward to more information from you. Thanks.
Careful sir . I have seen the new NItish property . He is using 5 year old model tiles . Bathrooms are like old styled . My friend came here from Mumbai to look at the Nitish property opposite to AWHO. He decided not to buy it .There are better options at 6000 per sfft rate . The new building shares the club house of the old one . he hasn’t even provided a separate clubhouse
Hi Ajay,
Based on your above comment, can you tell me the “better options” available within 6000 psft??
Look forward to your suggestions.
“Skylark Ithaca” may be better option.
hi .. I am considering this project and also Brigade Golden triangle, MJR pearl , Skylark Ithaca. How do you compare these 4 projects. any expert suggestions?
@sudhakar –
As mentioned in my above comment to Irfan, Marq is a better project as compared to Skylark Ithaca. Also, MJR pearl is a decent project but not comparable to Assetz Marq. You can discuss it with any property consultant or do a thorough analysis on your own if you know the area well.
Not sure about Brigade Golden Triangle though.
Why MJR pearl is not comparable to Asset marq, its closer to city, metro will be walkable from it, near bus stop….Just because of brand, Marq does not become a better project.
It is up to you Mr Rahul.
You can compare ‘Prestige Park View’ also with MJR….
MJR may be value for money but can never enjoy a Brand Equity which Assetz Marq will have….
cld you share the price/sqft for all …BTW going by brand name go for brigade ..its a integrated enclave with residential, commercial and retail and its going to be look like metropolis.
Also brigade is tier-1 builder and will complete all of the amenities promised but be prepared to see totally one sided agreement 🙂 with lil return in case of delay and arrogant attitude of their customer service.
@Irfan – Skylark Ithaca is a decent project, but is nowhere in comparison to Marq, esp because it is on main road, and the kind of amenities it has along with commercial/school option.
And I have been to Skylark site also, the approach road from one end is pathetic and is okayish from the other side.
Pre-launch price for Assetz still is high . All inclusive price for pre-launch numbers is around 5500 per sq ft as per y calculations(excluding registration and stamp duty) and that seems to be on higher side
If someone has money available,its better to buy a ready property with all inclusive price of 6000 rather than waiting for 4-5 years for 5500 sqft property
Hi Ajay,
I agree with ur point to buy a read-to-move in property with all inclusive of 6000 psft rather than going for a 5500 psft property where u have to wait for 3-4 years. Can you please tell me which property/properties are you talking about.
Thanks
Ravi ,
You are right . Even we looked for few but it seems you will not get anything ready to move in / about to be ready within this range.
We checked for Shriram Luxor comming up in Hennur but it seems it’s prelaunch price is also 4500 /sqft (negotiable though) .
Dear Ajay,
Plz email xls file workings to crmanjunath.m@gmail.com.
Thanks,
I have considered the below payment plan with some date assumptions . I got the payment plan from web . I just put in my dates . Booking date 20-jun-14 , possession date 20-aug-19
Booking amount ___________________________500000_____________20-Jul-14
Agreement within 30 days of booking 30%_____1750481_____________20-Aug-14
Basement roof slab ________________10% ____ 583493____________ 20-Feb-15
2nd floor roof slab__________________10% _____583493____________20-Aug-15
5th floor__________________________10%_____583493____________ 20-Feb-16
8th floor__________________________10%_____583493____________ 20-Aug-16
11th floor_________________________10%_____583493____________ 20-Feb-17
Terrace__________________________10%_____ 583493____________ 20-Aug-17
internal block work__________________5%_____291746____________ 20-Feb-18
Internal plastering___________________5%_____291746____________ 20-Aug-18
Possession_________________________________________________20-Aug-19
Here is the final cost of 2bh 1234 sqft flat
2 BHK costing
Area 1234
Basic cost (4200 per sqft) 5182800
Flor rise 15 per sq ft(15th floor) 277650
PLC (100 per sqft) 123400
Car park 250000
Club house charges 200000
Basic sale value 6033850
Tax (4.99) 301089
Total Base cost 6334939
Other charges at handover
BESCOM and BWSSB 185000
Service charges 75000
legal charges 30000
Maintenance fund 1 year 59232
Sinking fund 49360
Stamp duty and registraion including bribes(7.5) 452538
Sub total for other charges 851130
Final Marq cost for 2 BHK (1234 sqft) 7186069
Final cost per sqft to customer
exlcuding reg and stamp duty 5456
All
I gave wrong figures to all of you on return and none of you spotted and believed in me . I am sending the XLS calculation numbers in next 3 -4 posts . Have a look at that and if you need the xls , than post your e-mail id and i will send it to you .
You can get 10% compounded returns if you buy it on 20-june-14,builder gives possession by 20-aug-19 and by that time if the builder is selling the property at 6550 per sqft . That means the property should appreciate by 56%
Regards
Ajay
Hi Ajay,
Why is the possession date taken as Aug 2019? As per my knowledge, the completion date 3 years from the date of agreement+6 months grace period.
Also, I did not understand your purpose (or motivation) behind sharing the incorrect number first, and now the correct numbers?
Are you trying to defame the builder, or have some sort of ulterior motive?
No Ravi , there is no motive here . Just like you , i was initially told these ROI figures by another guy . I listened to him but didn’t think carefully . Finally i did my own calculations and could get the correct picture with some assumption.
Moral of the story is better to check things by yourself rather than depending on others
Just considering the Worst case scenario thats all . Looking at the history of big projects like DLF in bannargetta and Prestige shanitniketan .
Hi Ajay ,
Can you forward the excel calc for 3bhk 2t to me @nclfaria@gmail.com . Also , do you believe it’s a good deal for a first time home buyer ? We were considering it but now feels that 82 lac for a 3bhk 2T in pre launch is quite inflated
Hi Nicole,
I think it is a really good buy given the amenities/location and quality of construction from Assetz group. Much like you, I am a first time buyer and have booked a 2 BHK here. Even I got really worried because of the comments from Ajay, and took my time to figure out if the property is worth buying. In the end, I concluded that it is really a good option for an end-user and a decent option for investment.
Thanks.
Hello Ravi,
Could you share your email ID. We (owners @ Marq > 7/8 people) are connected through emails and we discuss the common topics and share our views and thoughts among us..
You can sent your details to gautamrgaikwad@rediffmail.com /gautamgaikwad.ind@gmail.com
Hi Nicole,
If you wish, you may also have a look at VHBC Serene Town near Sobha Amethyst. VBHC maybe around 2-3 kms from Marq. They have a model apartment for 3 BHK+3T.
Thanks Ravi/Hari/ajay,
we have finalized a 3 BHK 2T (filled the form but doing a booking tomorrow) . We are delaying it because just want to confirm the financials.
The final figure(including VAT , reg etc.)comes around 82 which we think is overpriced . But we are doing calculations as per Ajay’s logic .
Also , if you want to buy a east facing house . It’s actually a south facing but they have opened the foyer and made the main door face east . Which i beieve is quite awkward .
let’s see . We have time tlll tommorow to think about it .
Nicole,
Lets do a simple calculation , just add the amount that would be spending on the house including loan . I am sure u will never be able to recover that Price. Remember all these builders have huge marketing force and only they can fool people. Real estate market in Bangalore is a hogwash. Every builder is trying to artificially hold the prices.
Hi Shaildenra,
In your earlier comments, you have claimed that there are options available at 6000 psft all inclusive. Can you please list down few of them, and compare them with the “offerings” of Assetz Marq.
To be honest, this project is superb for end-use and reasonably decent for investment. I really do not see any point in your above comment except for a sweeping generalization. Do you mean to say that all projects like PLH, ROW …all of them have unrealistic price and everyone is a fool to buy properties there.
Look forward to some factual comments/data supporting your above argument. I am not sure why u r so negative about this project.
Also,
In case you are so correct, please suggest a property that you think is reasonable to buy? Or, one should live on rent for his entire life.
After 4 years , do u think that their 2bhk will sell for 1 Cr ?? and if it really crosses 1 Cr , do u think people will buy it ?? u can buy a resale apartment in Gopalan habitat near CMRIT for 6000 psq ft. People do quote higher prices but they eventually give in. If u have cash , u can fish for good deals
Have you seen their floor plan ? They have dining hall as soon as u enter through the foyer. I havent seen any floor plan as stupid as theirs. Just because they want to have high rise buildings using Mivan , they need additional walls. ROW is a far better project , atleast their floor plan is better.
Hello Shailendra,
People(including me) thought the same thing 3/4 before when some of the major launches happened and didnt believe the rise in prop prices but regret that we were wrong..
It just need to be right choice at right time and right place.. rest be assure..
I have taken the step to book here ..
If you feel ROW is good, please go for it.. dont waste your time in discussing on the project which u didnt like..
that is very very true , i was negotiating with a property dealer 2-3 km away from assetz marq and much pathetic location , and he told he will increase the price the same weekend marq was luanched ,
the reason he gave me is “we have to stay in market 🙂 we have to show the boom” 🙂 , but i asked him the roads are bad and in a pathetic area (compared to Marq) how are you going to find people to buy, beacuse his current price is really high for the location.
he didnt reply but after 10 days i realised , they increased price by 150 and then giving discount of rs 50 ,
A new buyer comes hears the magical word “discount” and goes for it
Manu,
Looks like you are talking abt Skylark Ithaca. 😛
Nicole,
Sincere Advice to you.
Apartment have shared energy so vastu rules are different than of independent house. Which means your should maximum expose to sunlight (Means Balcony and sitting should be towards East for morning sunlight). The flat you are looking for is having north facing balcony, which means getting sunlight through balcony is minimal…
I have booked the other side (non- amenities facing) where you have full open space as there is a 4 floor mahaveer apt. which would not block my 7th floor flat, and probability of getting sunlight is also high…..And also there is no PLC too..
This is my second flat and I have realized the importance of sunlight(Thankfully I get it in my existing 1)….
Hi Jitendra,
Is there a google group of people who have booked apartments in Assetz Marq?
Also, can you give me your email ID/contact no. I have some queries and I wish to discuss them with you.
Thanks a lot. Look forward to your help.
Hi Ravi,
Please send me a mail @jpshukla@gmail.com. I will share my contact details….
I too have bought in Marq. You can include me in the list.
Here is my email : gautamrgaikwad@rediffmail.com
Sent the XLS for 2 BHK numbers
Hi Ajay, can you please send the calculation excel at avi_talk@hotmail.com
Thanks a lot!!
Can anyone email xls workings to crmanjunath.m@gmail.com.
Thanks,
Nicole
This is a good builder . This builder will come in tier 1 builder categories (like the prestige , DLF , Unitec etc) .Their 2 earlier projects Eastpoint and daintree are getting good reviews .
If i were you nd are were looking for a first time house , i will have no hesitation in going for this builder . But , just like all other people do , shortlist 3-4 properties and than see which one fits you the best
Ajay,
Daintree is not launched, its suppose to be near hopefarm, whitefield. Which project are u referring to?
pls send xls reji.kular@gmail.com
Sent the XLS for 2 BHK
Ajay,
Could you pls send the XLS on ajk86in@gmail. Thanks in advance!!!
Plz send the xls to nish2482@gmail.com
Hi,
Do i get to choose the unit if i book an apartment in Assetz Marq,asking you this because it is at a pre-launch stage.Suppose i dont get to choose the unit as they may ask for an EOI,then what if i don’t get a unit in my prefferred location,then can i cancel it and get a refund.
Hi,
You will get option to choose ur option. and they will provide the allotment letter after your booking..
Gautam
I was also interested in Marq , so tried to investigate about the price and did my own ROI from investment prespective . To me it is a bad choice for investors .It May make sense for people who want to own it
For 1234 Sqft I got a price of 61.73 Lk + Stamp duty and registration .Basic cost is 57.74 and additional service , legal and 1 year maintenance and sinking fund 3.99 lk
Now what I found is that 61.73 is not final price. There are 3 more additional components to it .
1) Floor rise charge is 15 rs per sq ft. So assume you are on 10 th floor(its 23 flr) .It will add 1,85,000 to your cost . So your basic cost now is 59.59 Lk
2) PLC , you want a preferential flat , you need to pay additional 100 per sqft . Almost all flats will fall in preferential category only.Sales guys will give non preferential flats to their relative and known guys .So this adds a cost of 1,23,400 . So your basic cost now is 60.82.
3) Now comes a little surprise. Tax and VAT are additional. Generally it is 4.99% of base sales price .So this adds 3.03 lk more to your base price. So now your base price is 63.85
So total cost excluding stamp duty and registration now becomes 67.84(63.85+3.99). So you see a cost of Six lk is hidden in words
Add stamp duty and registration with bribes etc. You are looking at a final price of around 72 Lk . 1234 sqft 2 BHK turns out to be nearly 6000 per sq ft.
Additionally 5 Lk is booking amount and within one month of booking , agreement will be signed and you need to pay 30% of the overall cost . So nothing is done , no work started you have to pay upfront 5 + 30% of 63.85 = 24.15 Lk . So you will be paying nearly 25 Lk upfront . Imagine you book on 16-jun and on 16th July you would have paid nearly 25 lk . I have gone to the site , it is empty . It will atleast take 6 months for anything to start .
Projects like this takes around 5-6 years . Remember Prestige shantinikaten , it started in 2004 and ended sometime in 2011 . DLF in Banargetta , stated in 2008 -2009 and I am not sure if it is still finished
Assume that these guys are good and you will have your possession in say 4 years. You can get an interest is 10 Lk if you keep 25 Lk in FD for 4 years . As per the payment schedule you will be paying more money slowly upfront . What I am trying to say is that all that money paid by you upfront could have got you an interest of around say conservative 15-17 lakhs .
So your final price is around 90 Lk (around 7300) for 2 BHK 1234 sqft . In 4 years you need to have atleast 60% SI return and for that by the end of 4 years the rate per sq ft should be above 8500(to be quoted by the builder + other charges) I am not sure if the per sq ft rate will double in 4 years
All I am trying to say is that from investment perspective, this is a bad choice. Now I have assumed that it is all your money, but if you are borrowing from bank and repaying interest . You cost will be even higher
can you share your calculation for buying any property vs renting out? maybe keep your money in bank and stay on rent is best. i dont think this debate will ever end. people who are buying do comparison vs other projects.
sincerely hope the govt passes the much awaited bill for builders to put end to unscrupulous practices and give more power to buyer.
Hi,
Even I am not able to make any sense of why one should purchase a property when renting is so much cheaper and easier than buying a property. Say I buy a property of 60 lacs + 4 lacs (reg) + 5lacs (woodwork) =~70 lacs. At 8% interest p.a., I can get a monthly interest of Rs 47k per month with which I can comfortably stay in a large apartment, close to workplace, markets etc. Now if I buy for investment and assuming own funds, and say I want an RoI of 15% compunded yearly, then the price of the 70 lac apartment after 4 years would be 70*(1.15)^4 = 70*1.75 = 122 lacs. So, would a 60 lacs apartment become 122 lacs after 4 years?? Would there be a buyer at this price when the buyer will have so many choices after 4 years ??
Definitely Not!!
This is something people today are overseeing. They’re just busy buying properties as investment and expect great returns on them.
Sooner or later reality of realty is going to dawn upon them. This is not a pessimistic statement btw or a post to offend potential investors. I guess the writing is on the wall for everyone to see. but they need to stop and take a closer look. 🙂
All the Best .. Please keep waiting until this becomes reality
I have some mixed openion.
A 2BHK, costing around 50 lac in good location is worth buying.
47k after TDS, you will get only 35k.
If you are buying for own stay, home is with you after loan payback say 20yrs.
On the other side,
Rents may raise only 2-3% every year. In US rentals are at $600-1000 in last 10yrs.
Can’t expect RE appreciation more than 8% in coming years
After TDS, the interest rate of 9.5% may be taken as 7.5% p.a. I excluded tax computations since even for if you sell an apartment for profit, tax would be levied on the profit. I also excluded the rental part in my calculation by we can take an average rental income of Rs 8 lacs over 4 years. Still, I should be able to sell a 60lacs or 65 lacs (with woodwork) apartment for 115 lacs after 4 years. Is that a feasible or practical reality ? And by today’s prices 60 lacs is on the lower side. New launches are now happening at 70lacs to 90 lacs for a 2BHK!!! And still people are buying thinking prices will keep appreciating.
Yes the price is feasible if the Rupee crashes. Can anyone predict what will be the situation in the next 10 years. 5 years back Rupee was 48 to a Dollar and now it is 60 to a dollar. Last year September it went to 66.2 to a Dollar with 36% depreciation of the rupee.
10 years back a 2 bhk apartment without any amenities was available for 8000/ and today it is available at 15,000, 10 years hence it will be available at 30,000/
Leave the Investment part for your own use you don’t look at profits and feasibility.
Look for a project that suites your budget and don’t look at profits and feasibility for your own use.
San
Absolutely true Mr.RS. But people will not understand this. They blindly invest their hard earned money in real estate. As price of flat increaes the chances of flat getting sold out also decreases. Only you can give for rent, but rent is very less compared to interest what you get from FD.
Investors book in pre-launch and sell-of anytime before possession. That’s where they make money.
In the current pricing scenario, taking possession and renting out is not at all a good investment option.
People are crazy about pre-launches because they want to make quick money by investing during pre-launch and selling during construction stage as builder also sells at higher price in those stages.
This kind of craze, definitely results in over supply of units and may lead to price drop in future.
Precisely!!
Reminds me of a dear friend who had to wait for about 2 years(desperately needed a huge dose of patience) to get his flat sold. He had to take a cut in the profit margin as well in the process.
Reason: It was a premium builder flat. the cost of flat was high and there were very few buyers in market willing to pay that cost. It was sold to an NRI 🙂 who probably doesn’t stay in the flat now.
Hari
You have to keep on thing in mind . In long run you can’t just keep the cash in the bank . Over a period of time , your money grows and with that your tax implications . Most of the people investing in properties are HNI’s . So HNI keep stashing cash in bank means that govt will get a lot of tax on it . I am not very sure but you might end up paying 10% to 30% .so keeping the money in bank means making govt happy .You really need to factor in those things also in your ROI calculation . I have not done any ROI calculations on that but
Investing in property means diversification with little returns from rent . Salaried class people like us don’t have any means of investment diversification . So we tend to invest in property or gold may be . If you really think of people around you , most salaried class are limited to these to investment options only . Property is favorite as it save us from tax implications and also gives us a little bit of return in terms of rent .
Talk to a gujju or marwadi businessmen . Majority of them stay in rented homes , they avoid buying home of their own . They say that they can’t lock in so much of capital in house . Instead , they would like to use that money in business and get a better return . But that is a seasoned business man . For salaried people like us property buying and renting is the best business
The market has become investor driven market with a speculative buying . Each one has their own perspective looking at their investment. If some one needs a home then only buy i personally prefer ready to occupy projects. Why to pay emi and wait for 3-4 years for possession.I strongly feel there could be more supply than demand at time of possession as many are investors I am ok to take the risk and buy even after 3 years as the price hike and interest rate comes around same . If you are lucky enough can strike a deal too and save on interest too. Good luck!!!
A couple of points:
In 57.74 lakhs of basic cost, PLC of Rs 100 in already included. Hence, we need not add it again.
Secondly, the 30% down payment is inclusive of 5 lakh paid earlier.
One more thing Ajay –
Is Tax and VAT not collected in other properties? Is it being collected only by the Asstez group, or is it the case that they are asking it at the time of agreement and other builders ask it at a later stage?
I mean, can you explain your point 3 of 3.03 lakhs. In the cost sheet, they have clearly mentioned, Taxes+Registration extra.
Ravi
I have 2 properties and in both cases the tax + VAT was inclusive . I have seen properties from Gopalan and some small builders also . In all cases the Tax+VAT was inclusive . May be the big builders keep it as extra . I just wanted to point out the hidden costs
Regards
Ajay
Ravi ,
Yes ,, they have written Tax extra . I just calculated and shown how much that tax will amount to . Based on accounting practice followed by Assetz group it can be i think between 3-5 percent . I have taken the high range as most fall in that category and shown that additional tax will be 3.03 of the total base sale value
Ravi
I agree ravi the PLC is already included in the cost . So may be we can reduce the overall cost by 1.23 in my calculation
Regards
Ajay
Good analysis Ajay. There could be a few corrections in your post here and there(in relation to the calculations) but you’re spot on!
Almost all big builders are trying to exploit the mentality of the IMC(indian middle class) who, like a herd, are easily led into making foolhardy decisions.
While there might not be a reduction in the psqft prices in Bangalore at least for the time being, what we’re looking straight ahead 3-4 yrs from now is a big stock of unsold inventory plus an oversupply of flats which the IMC is unable to afford. Staying on rent might become the new norm.
There might be people who can bring out the facts about RE prices appreciation in the past years, but the game has changed. Affordability and repayment of loans isn’t what it used to be even 5 yrs ago. Plus the salaries are not catching up with the RE price rise.
Agree with you that, salaries are not rising on par with RE prices. But there is significant rise of double income families. There is also rise in number of families with multiple income (working parents, spouse and income from previous investments). Otherwise you may not see such craze for these new launches with price tag 60+ lacs.
And we are talking of only salaried class. What about the people who are in to business. With the rise in spending culture there is significant rise in the business volumes and number of business types and opportunities.
Lets take a simple example. Compare number of restaurants 10 yrs back and now.
Every street of bangalore has multiple pizza outlets. How much do these new businesses earn? Where do they live?
Thanks Rohit . I agree my calculations can be refined and corrected here and there.
I feel the pre-launch price is too high . It should have been under 3500
Ajay,
I disagree with you for following reasons –
1) The vat/Service tax, plc, floor rising etc etc charges are common among other builders. And vat, sc, registration expenses go to govt not to builder.
2) You may not be knowing that DLF is paying delay charges to residents monthly wise. Which would be adjusted in last installment. And it started late 2010 as there was legal and approval issues initially (and work was installed due to crane crash accident for 3-4 months)
3) The difference between FD and property is that you can enjoy property(either by living or renting) and at the same time prices rises. Where in FD only interest gets accumulated.
So with assumption that the rent for 3 bhk is 25k now, with 10% increment yearly it would reach 35k after 4 years.
4) Prestige shantiniketan was sold for 40lacs initial phase. Now 3 bhk is not available for less than 1.3 cr. I don’t think so that any buyer is disappointed with the project (Even if 2 towers collapsed during construction.
So the key point is if somebody is looking for the flat for living purpose, can look for something ready to move in (They will avoid service tax too). And for investment I feel it’s good project.
SNN Raj Serenity in begur road is perfect example of commitment by builder(Ready in 3 years and price is more than doubled). We can also be little optimistic with Assetz as they are projecting this project as their signature.
Yes you can disagree with me its fine . Everyone has its own views .
I just tried to show the end price with all charges included , so that people have clear vision of what they are getting into with a thought , what if the project takes 5-6 years to complete? .
My point is that Assetz pre-launch is quite expensive . Shantiniketan was launched close to 2000-2200 Per sqft . DLF was also launched around 1800-2000 . In both cases there was a definite scope for appreciation .In Marq case , i think the builder has not left much on the table for investors , the pre-launch price is too expensive . I just wanted to point that out .
Please go ahead if you feel this is a good project . I am not sure a 2 BHK will appreciate to 1.2 cr onwards in 4 years for you to make profit on your investments
I currently have a 4 BHK penthhouse , it has just appreciated from 62 to close to 1cr in 4.5 years .I Have it right back to ITPL . You think a 1234 SQft 2 BHK will cross 1.2 cr + in 4 years, that too in a developing place .
Well its upto you . i guess you are a optimist and i may be a pessimist . All i want to say is that pre-launch price is too high .There is nothing on the table for investors
Dear Ajay,
I have put my money on a 3 BHK, 1300 sqft (compact but decent) in the same area for around 60 lacs. If I look at it as an investment, after 4 years can I recover my cost+10% compounded interest = 90 lacs after 4 years ? I feel even 90 lacs is a high price for a 1300 sqft 3 BHK after 4 years. However, in today’s scenario, 60 lacs,for a compact 3BHK looks comparatively reasonable although the whole reality market is inflated. Any comments from your side.
Hari
I would suggest , you help us all . I means why don’t you take your price calculation for 1300 sqft flat you just invested , your payment schedule. Go to XLS and try to do a 15 year forecast .
I means see what will be the total cost for flat when you get possession . Assume a 15% compounded gain year on year on your property till you get the possession . Max return till possession cap to 100% .After that factor in a say 8% compounded appreciation on your property. Add the rent of the flat also after possession to your net value .The rent will add to your yearly earning , so i guess 30% will go to tax . Assume you put the rent to bank deposit again at 8.5%
Otherside assume a 8.5% on the same money if you had it in FD and deduct the tax implication on the return . see in google if the tax implication on the return is deductible at 10% or 30%
Try do do this calculation and post the results here , so that we can all benifit from it
Probably comparison with other under developed properties may help. facts about Tax, VAT etc do not change but the down payment amount, club charges, services charges etc. make a difference.
Some builders show tax, VAT upfront in cost sheet so that buyer can have clear picture, others do not show it which becomes hidden cost at later stage. Many first time buyers are still unaware of TAX and VAT percentage.
Well said Ajay…Im not talking about this project..In General, if rent what you get from a flat is less than interest amount from FD (its in 1:2 ratio),what is the point buying a flat?
Say 60 lacs flat fetch you 1 crore in 5 years (best case), who will buy 1 cr flat when buyers have other good options for less price…
Ajay has assessed the project perfectly!
Some clarification…. I did not say that post was pessimistic, I said we should be optimistic with construction speed.
Here are some points I would like to keep
1. India is inflation driven market, so the cost of construction will always go up. So if you feel realty market will take a hit is wrong. It will do adjustment in worst case, which would not more than 5-6%. You may have seen that realty market is at hit since last 2 years but prices have not fallen. Builder will not sell anything with 0 profit.
2. If you think rent is better option, then it is but for a short period of time. Rent will go up with time. In 2008 2 bhk in good apartment was 12 k now it’s close to 22( good locality with all amenities). Rent will go high with time, where as loan will go low and property price will go high. Buy the time u will get retired rent would be 70k??
3. Realty market is economy driven, if economy grows ppl will get job and money and they will buy property. With new govt it is expected that the economy will boom in 1-2 years, hence price may go high.
4. No where in bangalore property is avlble for less than 3400 RS (taxes and registration extra). The location assetz is located is very good, so if somebody is looking for end use should go ahead. If you want price to come down, you may be expecting something wrong. If you want a project with all amenities and safe, secure and good place for your family then it’s a good buy.
Hi Ajay.
Well written. As a end user, if I have to buy a 3 bhk what should be the cost. About 3 yrs back, from A class builder, 3 bhk (1600+ sft)was more then 80 lacs and I thought it was more and market will correct, about 3 months back I heard resale for 1.2 crore … I am not saying prices will go up at the same rate but could it come down any time ?
Or should I prefer to stay in 3 bhk with rental 35 k and that too increase every yr min by 5%.
Surely calculation works best, if a person has whole amount in cash then we would say that park it in some investment instrument and stay on rent but for a service class this case is not feasible and surely loans are available to own a flat.
Not sure, if buying a ~80lac 3bhk flat in this project is worth. I am ok to wait for 4-5 yrs.
I have a seriously feeling that very less end users(based within India) are buying apartments for investment purposes.
The investment group could probably be NRI’s, or local real estate agents(who might be buying on behalf of politicians etc).
For people on salaried jobs in India, it is very difficult to buy multiple apartments as Investments. Maybe for well off businessmen, it might be possible.
Assetz Marq is a bad choice for investors . I have done some rough calculations based on the cost figures i got from sales guy . See next post
1. Does anyone has insights on 1. financial stability and strength of Assetz? they seem to have exited/sold both the commercial properties – Vrindavan Tech Park and Gobal technology park in India.
2.What is the exact location of the high tension wire. Where exactly is it cutting through the project in Neighbourhood 1?
The high tension wire does not cut through phase 1 at all. It passes through the compound wall of neighborhood 3
30% asking by Aug’14…is this common with other developers also ? did anyone note the payment plan ?
Hi Nidhhi,
As per my knowledge, you need to pay 10% after ur home loan is approved. Means ur EMI will start immediately once ur loan is approved. After that the amount release is construction basis.
However I am not sure if banks release any fund before builder starts any construction.
Hi Jitendra,
Please confirm the understanding again:
2 lakh along with booking form
3 lakh in the next 15 days or till 5th July
(20% of the basic sale value – 5 lakh) at the time of agreement
10% of basic sale value after ur home loan in approved.
Please confirm if my understanding is corrrect
Yes Ravi, Builder is committed to start construction along with agreement. So for ppl with self funding have to pay 30% of basic cost. Whereas for mango ppl like us have to pay 20% and rest bank will take care of :).
Are you sure of this because usually bank will release amount only when agreement is ready ?
so will the builder wait or penalise us till bank releases the 10%
Builder has asked to pay 20% (including the booking amount). After agreement 10% (could be released from Bank, if one if going with Bank Loan). The rest is released as per the construction progress.
I see the Builder has put the payment schedule very aggressively and I am checking them if the payment schedule can be relaxed further..
HI Nidhi,
Do you have a copy of the tentative payment plan? Can you share it with me @ glancerohit@gmail.com?
Not sure on your question .. but Is it really a good property? Taking booking amount of 5 lakh? no cost confirmation? 20% extra charge ? And now 30% before agreement? I am having doubts about this.. Do you think they might ” reduce” price if not good response ?
They are asking for 30% before agreement, is this a normal trend with other developers also…they dont have any payment plans nor specifications of the material they would use….asking 30% before agreement which is by Aug’14.
Also if you pay 5lakh a booking amount now and later if you wish to discontinue which is before the agreement there is 25k deduction from your 5lakh paid to them ?
Is this a trend with others as well ?
pls advise ?
Nidhhi
Usually builder takes 20% that to at the time of agreement when they have all the approvals in hand.
Hi Nidhi,
Is the cancellation amount 25k or 75k? I was told it is 75k.
Can you tell me the source of your information?
its 75K
How much is the other charges part? 4200+parking club house vat st legal corpus = how much?
Based on understanding of other Assetz properties, here is the % of basic cost as other charges:-
BESCOM & BWSSB Deposit 3.47%
Club Membership 2.01%
Service Charges 2.01%
Legal Charges 0.30%
Maintenance Fund (2 Years) 1.25%
Sinking Fund 0.50%
Car Parking 3.01%
regards,
Piyush.
2bhk is 71 + reg ( starting from second floor) no 2bhk or 3 bhk on ground or first and floor rise charges start from second floor because ground and first floor will be duplex, so psqft rate will be 4215 for 2bhk add 100 to it for east facing .
3 bhk 82 + reg same conditions as above
Here you have for 3BHK (1457 sqft)
Tot Basic rate 61,19,400 ( Flr Rt- 15/sqft/flr from 2nd flr + PLC 100/sqft for inner facign
Car Park 2,50,000
Club Charges 2,00,000
Base sale value 65,75,057
BESCOM/BWSSB 2,18,550 (150/sqft
Service Charge 75,000
Legal charge 30,000
Maintenance fund 69,936 (48/sqft )
Sinking Fund 58,280 (40/sqft )
Total Other Charges 4,51,766
Total Sale Value = 65,75,057 + 4,51,766
= 70,26,823
Regist/Stamp Duty 4,24,839
Service Tax / Vat 4,50,000 6.67%
Final Landed Price = 79,01,777 (Need to add the flr rise rate + PLC)
Regards,
Hi Gautam,
Are they asking for 30% at the time of agreement ? Usually what i have seen is 20% at the time of agreement and then linked to construction progress.
yes the builder is asking for 30%. But what i understand from them is one can pay 20% and remaining 10% amount can be released by Bank once agreement is done.
I am told that the the agreement could happen by Sept. I suppose by then they should get all approvals and clearances from various authorities..
Hi Gautam ,
The above calculation is right .except for VAT and Service tax. The builder told us that it will be somewhere close to 9 lac for a 3BHK .
Hi Nicole,
Yes, you are right. Even I got the same info. Did you ask them for the complete calculation? Any idea why this tax component is so high??
Thanks.
I agree with you the tax component is high. I know some of the big builders include VAT in the sqft rate, which in this case comes close to 4.5 lkhs..
can you name one 🙂 who does not charge VAT and include in /sqft rate
For the project nearby, Service tax + VAT is around 8.9% of project cost (Base price+Car Park+Amneties+BWSSB+Electricity+Maint+Legal+PLC).
Note,
Except Base price and Floor rise, all other payments attract service tax of 12.36% on 100% of payment.
For base price and Floor rise, its service tax 12.36% is applicable on 40% of amount paid.
4% of VAT is applicable on 100% of Base price, Floor rise, Car park and BWSSB+Elec
Maintenance charges attracts service charge of 12.36% for full amount.
Hi Folks,
Need your help on one more thing:
If agreement gets delayed by 1 year, what will happen to my booking amount (5 lakh)? Like in the case of some builders, when rent-agreement gets delayed because of pending approvals/some other concern.
Is there any time-period post which the money will be refunded if the agreement is not signed. Something like 4-5 months from the date of the payment of 5 lakhs. Not sure what is the standard procedure followed, hence asking.
As per their commitmnet, they said they will start in Sept but it is Valid point to be checked with them..
Regards.
Gautam
Plans has been sent to your email id, 4200 is decent pre launch price by considering the future potential of that area, Commrecial elements within the project.
Builder:- Singapore Based developer
Vrundavan tech village (Embassy tech village) & Global technology park has developed by the same developer
Is it really pre-launched? Called at builders office and they said – pricing etc. not finalized. Expected late this month. That is what I was told
booking are going on at site. i got mind done today. the marketing folks said that high tension is not 440kva but less, so they are making road below it. depends upon which tower etc, you may be quite far from it. overall looks very very promising.
Its 220kv
Mark, Could you please confirm the booking amount you paid and any idea when they are going to deduct the money?. Did you paid booking amount to broker? or builder?
Did builder gave you any tentative date for agreement/project launch; as per my past exp with them, their East Point project took 18 months to start the construction after pre-launched
Hi Mark,
As per my knowledge, only neighborhood 1 is open for sale now. And that too, Block 1,2 and 4. Which block u booked in and which floor?
I am also planning to book one, hence asking.
Mark,
Also, do you have any info about the BDA approved land (for PRR purpose) that some of the posts in this thread are talking about?
Do you have any contact number of Assetz group people from where we can confirm it?
yes, only 3 towers in the backside are open for booking now. you can drive down the ferra (company name still there) gate till the end, where they have a marketing office and get a feel of the towers location that are open for booking. the booking amount can be split (at least i paid only part of it), other is due in 15days they said – but will send intimation. they are claiming construction to be starting in 1-2 months, but i dont trust markeitng folks of any builder.
i am paying directly to assetz and thier acknowledgement given directly to me, the channel partner will put their stamp in the form for theri part of commission ;-). i guess for the launch, they would have all the approvals, which is why when u call their office they say end of month, but that is govt work – but this is what most big builders are doing..also they are claiming to finish construction by 2017 end, which makes me believe the construction may start as late as end of year..
Construction is promised by December not before that. Approval they are expected to get before September. You can expect Mid 2018 for the delivery.
Hi Jitendra,
Did you get this information from the builder directly?
Hi Ravi,
As of now nothing is coming from Assetz side, the information I have received is from Property consultant(s). And as per my previous experience this looks genuine also. Builder launches a project when they have obtained most of the approvals except some. Which takes couple of months time, as they negotiate over bribing for the approval(We are paying 5 lac for the same purpose 😉 ). Then they start construction slowly, depending upon response they speed up this. As the other 2 towers (neighbourhood 3,4) he is launching down the line 2 years, I expect construction should be faster for initial towers.
As per my discussion with the builder, they will start Neighbourhood 1 and then they will launch Neighbourhood 2 and the school together (which is complete Phase 1), but they planned to complete this phase 1 together by end of 2017.
Later they will launch Neigb 3 & 4 along with commercial space and complete it by end of 2019.
Hi Jitendra,
I just got a mail from Sindhu (CRM team – Assetz group) that Completion is tentatively 42 months from the date of commencement certificate.
So, it is close to 3.5 years from Sept 2014. And also, I am not sure whether this includes 6 months of grace period or not?
Hi Ravi,
Tentative 42 months are from the date Construction starts. Near my home DLF(19 Towers) are yet to be completed even after 5 years. So If they finish it in 42 months, that would be an achievement…
And I too have received a mail from Mrs Sindu that agreement payment is 30%(Surprisingly)…….
Just 1 more point Jitendra,
Any pre-construction interest is also allowed for deduction in tax only if your project gets completed within 3 years of starting of the construction. Once the house is ready, you can claim the deduction for it within five years from possession in equal installments within the Rs 1.5 lakh under Section 24B.
Guys, i also booked yesterday . All approvals seem to be in place . They are just waiting for some time . i tried to ask but looks like a business decision and not because of approvals …. 🙂 As to seal, even my form was stamped because the brokers charge commission from the developer and it seems this is done to maintain proper documentation by the developer for invoice payouts and records.
Hi Raman,
Even I am planning to book a 2 BHK. Do you have contact number/email ID of any person from the Assetz group?
Also, can I have email ID/contact no. Wanted to discuss a few points.
Have you calculated how much you are loosing because of this builder – broker nexus. 2% of base price is commission, which is more than one lakh. Why can’t the builder take direct bookings and give that benefit to end customer.
If all approvals are in place what’s stopping them. End of the day builder can say that, they are not responsible for the false promises given by broker.
Dear Raman,
I am seriously considering this property.
You have mentioned that the builder has all the approvals, did they gave you copies of the approval?
Regards,
Himansu
Himanshu, building plans are approved that is what I was told . and the construction will start by early September and that is the time when agreements can be expected .
Hello Raman,
Could you share your email ID. We (owners @ Marq > 7/8 people) are connected through emails and we discuss the common topics and share our views and thoughts among us..
You can sent your details to gautamrgaikwad@rediffmail.com /gautamgaikwad.ind@gmail.com
Hi Raman,
Is the booking done only through brokers. Are they charging from the buyers any amount.
As per my discussion with Builder & consultants, Neighbourhood 1 & 2 + School will be constructed in Phase 1. In second phase they will complete 3,4 & the commercial space..
Thats the confusion currently with this project. Only property consultants are making sounds about this project. Builder is tight lipped.
They might be waiting for some things to be in-place before announcing pre-launch.
Till then, we have to assume, its only a soft launch or pre-pre-launch.
since the booking is at site, it is being done by assetz reps. i dont have much idea why they are only doing soft launch thru channel partners – maybe they are playing safe not having all the approvals or just collecting money like many top builders and then start construction after 6 or more months. assetz is giving the acknowledgment of bookings…
When I asked they told me that construction should start within 2 months of the launch ..sounds good ! I looked around their other properties and felt that their pace of construction is good . It is a big project and naturally they would be planning well hopefully to the last detail…
Have you visited the site? is High tension wire going from middle of the project?
Yes, High tension wire is coming from the Property Entrance and its moving out by cutting the Neighbourhood 3 Compound Boundary.
Check page numbers 113 and 163 in below document..
http://gazette.kar.nic.in/16-09-2010/Part-3-(Page-3929-4136).pdf
Survey numbers 140 to 143 and 168 to 174 are notified by BDA for PRR purpose.
I hope this project is not falling in any of those survey numbers.
As per http://www.clearvalue.in/cdp/cdpMap.html?Loc=13 , project is spread over Sy# 159 , 167 , 168 , 169 , 171.
Seems out of these 168 , 169 and 170 are under above notification.
Hi Gaurav,
This is a big concern then. Can you explain me what does this precisely mean? As in, what are the disadvantages of it and how will it impact the ppl living there?
Thanks in advance.
If above assumptions are true, then it means that, bda has right to take over that land and demolish if any constructions and use it for PRR related constructions proposed in that land. At the same time, land owner has right to fight back.
So talk to Assetz and your lawyer to understand the facts and consequences.
First off all confirm the survey numbers.
Ravi, you have all the relavant information that you can analyze for yourself. You just need to go through the things in detail.
Does anyone have any update on this topic. Will they approval before the August, as they planned to launch the project in August
As per the gazette, Sy no:171 is entirely KIADB land. How come its part of Assetz project plan?
Look, I liked the floor plan they are quite practical for a working family. It is always better to have the living rear ended and the dining to be upfront. You get an opportunity to use those balconies by opening when you friends home. It has a nice bit of foyer that you are not entering into dining.
Hi ,
We are planning to buy a 3 BHK here and visited the site . Have few concerns though :
1. Site 171 on which the phase 1 is developing is a KIADB / industrial land. Talked to a broker about it and he said that they are waiting for BDA approval for conversion . Can this be an issue later ?
2. We have to pay 5 L as booking amount and then 30 % in aug 2014 end/sep . Is it inclusive of the booking amount ?
Also , What is planned for the land between the phase 1 and road (on left you have Mahaveer building)? They say its and Assetz land then why are they leaving it ?
Hi Gaurav,
I am a first timer and trying to understand about the serial nos. I saw the clear value map but was unable to read the map for the sr.nos. Can you please guide me.
http://www.clearvalue.in/cdp/cdpMap.html?Loc=13
I visited the site yesterday. I was aware of this issue. I was told bda development plan has been approved and they gave me some approval number as well. With that the matter rests I guess. They are large developers I don’t think they would risk selling something that is under acquisition.
yes i also think so !
I’m not sure about the survey numbers of this project. But some land in that area is notified by bda for building bus terminals attached to PRR. Need to check with builder about this. I’ll post the exact survey number.
Check the link below for the PRR allignment in whitefield. Dont know if there are changes to this map as on date.
http://www.clearvalue.in/cdp/cdpMap.html?Loc=BlrEast#
use google account to log in
san
While I met their Rep, he said they survey number is nearly 800 meters away from this and will not be a issue..
Seems good option for investment… like Divyasree…. decent soft launch pricing… School will be big boosting point… This will be the only project to have commercial like hypercity or More… for sure better rental income than Shoba Amethist… Let’s hope !
hey Pandian,
Do you think the floor plan is really that bad as pointed out by others? I am a amateur, and hence seeking opinion/help.
Thanks.
One of the worst floor plans i had never seen. I am talking about the 2BHK (1234 sq ft).
When you open the main door, you will come into dining room:)
The kitchen doesn’t have air to flow out. Exactly in the center of the house 🙂
The balconies dimensions are bigger than study rooms 🙂
There are lot of comedies. If you get a brochure, you will have lot of fun for weekend. enjoy 🙂
The project apparently is meant for young families and with small kids . for most of them it is probably going to be a first home , i think a 2 bhk works well for people like me ….young settlers in this town , just married and thinking of starting family in a few years time … a 3 bhk can be chosen by people with small kids …not bad at all…just loved the emphasis on open areas…why remain boxed in apartments ? rather than being bad, very thoughtfully planned on the contrary …
Hi Ravi…
Floor plan is ok… not that bad …. may be because of Mivan tech, walls are planned in between… we can try for modification…
but end of the day , huge commercial space with school will ensure you get at least 1000 rs/sft.. please review this post by this next year same time … you will realize …It’s open challenge Rs.4200 to Rs.5200
Assetz claim all apartments are vastu compliant i.e no South Facing door. This is just another marketing gimmick.
If you look at 2 BHK 1234 sqft flat floor plans which would have been facing South otherwise , they have wastage of over 9 sqft of carpet area. Instead of having door facing south , part of foyer has been left open in the lobby at the expense of buyer. They still charge for same sell-able area of 1234 sqft with carpet area of ~9sqft less. If Assetz have planned as per Vastu , they why customer is charged for this space wastage ???
hey Gaurav,
Don’t they have any north/north-east facing flats left? Is this the reason u r considering South/South-east facing flats?
Hi Ravi,
I just wanted to bring to notice of everyone here how these so call “Good Builders” take innocent buyers for ride. Its just a marketing gimmick that all flats are Vastu compliant and no south facing doors. They changed the position of door , wasting about 9-10 sqft of carpet area and still charging the customer for this . . Shame !
Cheers
Gaurav
Floor plans are dismal, having long impractical balconies and average to small sized rooms. But, the location has potential and by the completion time would be a hub of activity in itself.
Can you explain me why the floor plan is so bad..?? I am planning to book a 2BHK in pre-launch phase in a couple of days?
and yes..where did you get the floor plan details from. Can you please share it with me. Thanks.
I am not sure about the site policies, hence not posting the floor plans. You can easily find the floor plans by googling for this project.
Some of their earlier projects had one of the best utilization of space, however I feel that the floor plans of these flats are not inline with their earlier quality for the below reasons
1 – Long balcony/ies – Lots of Sq ft is going into long balcony, which could have easily been utilized to offer better space in living/utility area
2- Placing of Dining space, right after the entrance. This is the first project where I have seen it
3 – Even in the 3bhk, the room size is small to average, whereas the total square ft is high because of the wastage of space in balcony.
Please note, every real estate project has its pros and cons and I have listed only my point of view above. When taking a decision about purchase, you can never expect all positives, otherwise your search will never end.
I was in the market for my first property 2 years ago, I made a decision which turned out to be extremely good in retrospect. However, some of my friends are still searching for projects and although they can talk like Google maps about Bangalore localities because of their intensive research. But, they still have not been able to find a suitable property.
This project has good potential, because by the time of completion (3.5-4 yrs), the location will develop into a commercial hub and with employment opportunities/school facilities inside, this would be something similar to Divyasree ROW project
Your totally wrong ! you must be competitor.
I happened to visit their model unit today which is getting ready but unfurnished … the overall carpet area efficiency looked good …it will be ready in a month they say …will go and have a look again…the project looks great to invest and live-in…
floorplan is not good , dining is at entrance
Was anyone able to get in touch with the builder? I tried contacting them but they did not provide any details on floor plans. They said, “This project is under plan”.
Provide me your email id will send you plans
Hi Rajnith,
My email id is glancerohit@gmail.com. Can you share the plans. Also, what is your point of view about this project in terms of base price quoted as 4200 psft and the reputation of the builder?
@Harsh – Can we also have your expert opinion?
Plans has been sent to your email id
You can change it and move it towards the Balcony.
Hi Harsh,
Look forward to your expert comments about this property. Also, is there any long term solution to the concerns that you have mentioned.
Awaiting your reply
High tension wire is going from middle of the project. Any concern ?
Its 220 KW… i doubt if that is high tension anyway,….
Till now nobody from Assetz is talking about the project. They are neither available at site nor over phone.
As of now only some property consultants are talking about this project.
Anyone talked to Assetz directly about this project?
What will be the exact location for the project?? What is the reputation of the builder??
Updated location details
Dear experts ,
Any view on this project ? Pre-launch is open and developer is quoting Rs 4200 psf.
Any thoughts on this project as an investment ? I enquired at the site – they say it would be a 28 acre project with res, commercial and a school buildings. I was wanting to know about the reputation of the builder- since this is a JD has any one gotten info on the land/sanctions etc ?
As far as I have heard from my friend the builder carries good reputation, Vridanvan Techvillage was developed by the same group. East Point is one of a great project where my friend has booked. Marq sounds promising for investment considering the location with that potential and the project concept.. You may need to check for info on the land though…