Purva 270 Degree
Puravankara projects has announced the pre-launch bookings of their residential apartment project called Purva 270º “Life Uncluttered”, the project is part of the phase 2 development of Purva Seasons. The project spread across 10.35 acres will offer 660 apartments in 2 and 3 BHK configurations and true to its name will offer apartments with no parallel walls and a full 270 degree views.
Purva 270º Options
- 2 BHK – 1392 sft, 1659 sft
- 3 BHK – 1659 – 1980 sft
Purva 270º Location
At Kaggadasapura, C.V. Raman Nagar
Purva 270º Price
As of 2nd week of August 2014.
The base price for 2 BHK and 3 BHK INR 6130/- per Sq Ft. Other charges include:
1. Floor rise Rs 30 per sq.ft per floor
2. Premium Charges- INR 100 per sq.ft
3. Super-Premium charges Rs 200 per sq.ft
4. Ultra- Premium charges Rs 400 per sq.ft
5. Culture Club charges Rs. 2,25,000
6. Covered Single Car Park Facility Rs 4,00,000
7. Covered (2 Tandem) Car Park facility Rs 5,00,000
8. Covered (2 Stacked) car park facility Rs 6,00,000
9. Other levies include service tax, VAT, KEB and BWSSB, Advance maintenance, Stamp duty, and Registration & Misc charges
Purva 270º Investment Plus Points
- Major road arteries like Old Madras Road, K.R. Puram and Outer Ring Road are within 1 km radius
- Byappanahalli Metro Station is in close vicinity
- Easy connectivity to business hubs such as Bagmane Tech Park, RMZ Infinity, ITPL and other Biz Parks.
Purva 270º Concerns
- Share with your comments
BEWARE buyers of Purva 270 from investor!
There are some investors (who have got some units in Purva 270) and their agents who would lure you with a lesser prices than builder and landowner as well and would ask you to do sale agreement very soon. And if you ask for registration of sale agreement which any buyer can pay from his own pocket but they will NOT agree for the registration of the sale agreement. BEWARE from such kind of transactions. A registration of your sale agreement safeguards you from any kind of illegal issues like selling your booked apartment to somebody else too. BEWARE from such kind of frauds. I was almost trapped by a CROOK broker in such kind of transaction but somehow I understood their ill intentions and stopped my cheque before it could be encashed.
Purva promised 8 borewells, however, there are only 4 out of which 1 is defunct and other 3 have only 2cm water
Still, no solutions on garbage dump, flood-like situation on the entrance road in rainy season, no Cauvery water yet, and one small road to connect to SV road after 8 pm to 8 am, due to clash between Purva and landowner huge price difference in market, not sure why they changed the project name from Purva seasons to Purva 270 as they had fought a case against DRDO which I think Purva won
hello all. I appreciate your thoughts on P-270. thanks to you guys i have planned to remove it from my list. can you all kindly suggest an alternative project which i can purchase and can have access to Bangalore central , and all important cities without spending less amount of time in traffic. would appreciate your thoughts. thanks
salarpuria east crest at budigere cross looks a promising option.
the issue is with the distance but value for money and future aspects of growth are good i feel.
we have booked a 2bhk there.
looks handover may be in 1year.
I was looking for good apartment for my parents nearby my area. And I found purva270 is just walkable distance from my house. Soni started enquiring about the project. My parents also liked it. But when we tried to finalise the deal, we became vey disappointed because of the following reasons:
1. When we tried to negoiate the price, which is 6990+ per sft they are not ready to negoiate saying that its a premium project at premium location.
2. The behaviour of staffs is extremely rude. They don’t know how to behave with senior ciizens. When my father told the General Manager sales that we can not afford if we do not get any discount and since its his hard earned money, the reply from the GM sales was “why did you enquired about the property when you can’t pay for it”.
Guys please tell me do we expect these kind of behaviour from these kind of builders? And now if their behaviour is like this do you think that post completion of the project you’ll be getting any kind of service from them?
And I think GM sales must be an “highly educated and well mannered” person.
Purva Seasons (as it was called once) and 270 now was
(a) Way beyond time lines promised to be delivered in Dec 2014/ March 2015 – we know the current timelines. Purva folks are good at marketing – they will not talk that this project was launched in 2012 and is nearing five years.
(b) Legal problems which could come up gain – they still can be challenged in courts due to proximity to DRDO/ CARE.
(c) Traffic on the 50-60 feet road which could take you 30-75 mins to Old madras road and similar time to Old airport road. Access to ORR via Kaggadasapura Railway gate is more previous galli given a coat of tar – worse experience for driver.
(d) Muslim burial ground vicinity and garbage dump for CV Raman Nagar area add to the woes.
This entire zone including 270 is avoidable.
Just wait for 3 months. The GM sales will himself contact you with deep discount. The demand has fallen steeply and will continue to fall in the coming 2-3 months. Then automatically, the behavior of the sales staff will change.
And when the gm sales contacts you , you can politely ask him and the project to go to the nearest dump yard ., which would be fine since it would be a walkable distance ..
hi indrani,
it looks u still have the hope that purva will come down fromits price.
its not going to happen at all.
u can try resale appartments and land owner shares if u want it in any case. u will get heavy discounts in those.
plzz know the market in that area. the versova sky is selling its 2bhk for 85L + charges.
how can u expect purva to come down
Someone selling and someone ready to buy at this price point are two different things. Market is flooded with lots of expectations from investors & builders, but property market is now in a self correcting phase. Either you can embrace this change and exit with the right strategy or you can try fighting back by keep on quoting unrealistic prices and expect to get lucky by some amateur buyer to close the deal at expected prices. Why only Versova ? I know couple of guys at August Park quoting around 8k psqft. They have been stuck at this price since last 3 years trying to sellout with no luck.
Hi Namrata
I’m not at all interested in this project now. Even if they reduce the price now, I’m not going to purchase here.
I have been staying in this area for 15 years. My thoughts on Purva 270.
1. Property is right across and opposite to a graveyard. Not many know, but the forest type of land that you see opposite to the gate of purva 270 is actually a graveyard. A Muslim burial ground. Who would want a balcony view that is facing a graveyard ??
2. As rightly mentioned by many of them, traffic is worse.. Especially with DRDO gates having time restrictions, the only way out is Nagvarpalya which is congested road in which 2 buses cannot ply.. Then there is Big Bazaar road which is always crowded with min 10 minutes for signal. The other way is through benginahalli which is slum at its best. Impossible to get through with car. This area is prone to road rages and poorly disciplined traffic. The other exit is Kaggadaspura Railway cross which is officially India’s worst railway crosing. Go in the morning and visualize the chaos yourself.
3. Water Problem. There is severe shortage of water in Kaggadaspura. Up to DRDO quaters there is no problem as its taken care by govt. But beyond that is problem
4. Right opposite the property is BBMP garbage collection hub. Any say, just lookout for these huge stinking garbage trucks waiting to pick up thrash.. All the garbage in whole of C V Raman Nagar, GM Palya gets accumulated here for days.
Why would someone want to buy these houses worth crores?? Come on people , be sensible. Because of foolish people like you who has invested in property, the builder takes undue advantage of the situation and artifically creates demand.
This property is not worth your hard earned money… Those who have lot of black money are welcome to buy this property. Money can buy you property, but not solve the above mentioned problems.
I have been staying in this area for 11 years. I find all the comments by Arun correct.
Another point I missed. Due to close proximity of DRDO Labs( CAIR and DARE), there is a on-going legislation of intruding defense property and maintaing secrecy of defence property. I believe the casse comes under under Section 3 of the Works of Defence Act, 1903 which prohibits high rise buildings around R&D organizations like DRDO. Not sure what is status of this case since DRDO is yet to approach Supreme Court. http://judgmenthck.kar.nic.in/judgments/bitstream/123456789/926036/1/WP14387-13-24-02-2014.pdf
what ever it is, those who have money are ready to buy even it is 2crores.
its not for people who have hard earned money.
its not for those who is a higher middle class, want to become rich by purchasing an appreciating good propery.
its only for those who has money to spend. the joy of spending.
Many big builders build apartments just next to road. can ppl inhale smoke emitted 1 lakh vehicles a day?
I was an occupant in August Park – just closer to DARE (bought in 2013. sold in 2016). The traffic has grown 50% in last 4 years and exiting to Old Madras rd and to Airport Rd (via Vignan Nagar) increased by 30-45 minutes in this time.
Garbage being dumped off P270 was a new occurence since 2014 and appears this is dumpyard for CV Raman Nagar and Kaggadasapura.
Incidentally bought August park after enquiring on P270( titled Seasons). They kept mentioned Dec 2014 then. In 2014 – was enquiring on 2 bhk for a friend (who liked it inside/ but had the concern on traffic) – where completion date was Nov 2015. Dec 2016 is not a reality
Thx Arun. good eye opener..
Even though I’ve read a lot of negative comments . I really like this project. I’ve purchased a 1980 3bhk. Really love the plan and the price. Whatever said and done being into investment industry from past 20 years I see a lot of value in this property.
I have also bought into this. Do we have google groups of owners.
I looked at the property. The plan looks good.
Am interested to buy but concerned about legal clearance and the delivery date committed.
Can you please comment on the same
Yes we are having a Google and whatsapp group.
Any owners, visiting this portal, please drop me a mail on pradeep(dot)niranjan(at)gmail(dot)com
I will include them there.
Your email id is not clear. I would like to join the group as we hv recently bought a property at D blk
Dear Pradeep,
I am interested in buying a 3bhk in this project, but there seems to be so many negative reviews on this page. Request you to kindly share your thoughts on the legal status of the land, the traffic woes in the area and also anything which you could tell us.
Would really appreciate your valuable views before going forward. Thanks in advance
Arpit Mishra
()
Can u add ?
Hi,
I am interested to rent a 3bhk in the same.
If any one is interested in letting out 3bhk pls share mail to
I wonder how people shell out their hard earned money into insensible projects like these. The condition of this area is going from bad to worse. It can’t get any more worse. I don’t know about the reputation of this builder or the state of their other projects, but can speak confidently about this locality.
-> The Road infrastructure around this property is the worst one can think of. You drive 100 meters into any direction and you will be stuck in your car for hours. This is not exaggeration unless you experiment in the solitude of ghostly midnight hours.
-> There is no Garbage Collection. I mean literally no Garbage Collection in the surrounding areas.
-> The ground water is the worst you would find anywhere in Bangalore. This may not be a problem with a profound Water purification system, may be.
One of my friends inquired with the Marketing Team about this Project in 2011 and they proudly boasted about a Coffee Day which operates in the neighborhood. Is that even a pitching?
Unless one has unaccounted money, or unless these apartments are being sold for peanuts, I am not sure why anybody would be interested to add to the already existing woes of this sad neighborhood.
-AB
@abhilash
All you said about Purva 270º is correct. I also experienced the same when I visited the project last time. The road that leads to Nagarpalaya is almost always chocked, dusty and the air is filled with a skanky smell. Fruit and vegetable vendors occupy most of the road and have make shift arrangements to make way for large vehicles. If a BMTC bus or construction lorry comes around, traffic there grinds to a halt. Office time traffic is UNBEARABLE. You may just spend 1.5 hrs to get to Old madras road. Same story on the other side.
This project has anyway reached a dead end. No more takers now. Buyers money is struck for uncertain time.
OK. Let me tell you.
I have been staying in the area. Already have a house.
On garbage collection, since last 3 years there is a competition between BBMP workers. Every day 2 different parties come to collect garbage, since last 3 year.
The area has seen much improvement as compared to neighborhood, this is mainly because of two competing MLAs and corporator who are from BJP and congress.
If anywhere within CBD if you find the best water table, that will be within and around defense and army land. 270 has acers of open plantation area on both sides, also known as DRDO township.
Government seized some encroached land back from Purva last week. Please check your Undivided Share is adjusted accordingly and you get your refund from Purvankara
http://www.thehindu.com/news/cities/bangalore/encroached-land-worth-rs-10-crore-recovered/article7791164.ece
The Bengaluru district administration and Bangalore Metropolitan Task Force on Tuesday recovered land worth Rs. 10 crore from a private real estate developer who, they alleged, had built part of a compound wall and a model flat on encroached government land.
hi sunny, i have read the hindu article, are u sure is it from purva 270. or else with some other projects.
really a big thanks for you for giving such a information.
please clarify if you have further details
a ton of thanks
This is Purva Midtown
Hai ..can someone tell me a way to contact the landowners of Purva 270..
I contacted many numbers which is indirectly going into the puravankara itself..
I want the number of the land owners..
Thank u
Why are you buying in puruvanka..SHOBA is gong to launch ASPIRATIONAL HOMES..in sarjapur..it is going to be a township project and u can look into that project
I need some thing closer to the metro station that is why
Hi .. Ive couple of units in Purva 270. dimension of 1836 sqft in “G” & “H” tower.
Dear John Michael,
You have mentioned that you have couple of units in Purva 270. Do you still have the apartments. Please give me the details.
I am looking for abuying an apartment in Purva 270.
The Greatest Online Sale on Homes. Register Now at:
http://www.puravankara.com/gosf/
Looks like flats are now going to sell like Xiaomi phones.
Thanks Manjushree for sharing it. I registered myself there
Better avoid going to these marketing gimmick…these projects are not sold for ages..
If the builder is in need of money..here are the things you can negotiate for
1. Pay only for the carpet area and registration charges
2. No car parking charges
3. At present you can negotiate for anything less than 30 % down..real estate market is cyclical..the golden period is over..no one favors RE ..so negotiate hard if you are serious.
4. Delay in handing over the apartment..mention that you require minimum 15 rs/sq ft
5. Check whether you have good water or not.
6. Final one BUY ONLY IF YOU ARE GOING TO STAY..
For every 1 LAKH you are going to pay EMI of approx 1000 rs/ month for 20 yrs..if you take 50 lakhs you will have to pay 50 thousand pm EMI..The maximum rent you can expect is 20 thousand..its a loss for the buyer.
Better is invest in Mutual Fund and you can earn decent return because of the stable government.
i too feel that he is right. looks like the project is not sold for ages. i have a doubt when speaking to the marketing persons whether, they have really sold many units or not.
looks like it is not a good investment unless we stay there. the price what they quote is very high which cant be affordabe even for upper middle class.
dont know who are those guys ready to invest 1.3cr for a 2bhk, in this conjested kaggadaspura road where there is no possibility of road widening in future.
i prefered this project as it is close to bagmane tech but considering the issuses, like traffic and water problem i dropped it.
The biggest add on is that, its a biggest project in the surrounding 3kms. other than that, there is no plus i see here.
when compared with prices of other builders purva quotes almost double the amount.
This project is not worth more than 5500+Reg and they are quoting 7500+Reg. I was planning to buy one 3bhk as I work in Bagmane Tech Park but dropped the idea after doing some investigation.
Sometimes I wonder we software engineers are really stupid and don’t have common sense. Why the hell are we paying the insane amount of money to these builders. Is it because we can get home loan easily? What after we have taken loan? We will get bonus at work and then happily give it to bank/builder. We get hike or award and then happily give it (award money) to bank/builder. Why? Pressure of saving money to pay loan will make life hell. I see friends around with huge loans and feel sad for them. Taking pain for 1st house is though understandable but repeating it for 2nd house is totally weird. It’s difficult to comprehend that how somebody with huge amount of debt can enjoy luxury.
people should realize and should pay what it is worth for?
@Subh
Great. Make sure you go through following post before clicking “Add to Cart”.
http://harshasagar.com/2014/01/18/puravankara-palm-beach/comment-page-1/#comment-32248
Immediately after registering I got a call. The lady said Puravankara 2BHK starts from 73 Lakhs. And my budget is max 60. So it was hopeless….
My assessment of Purva Seasons/Purva 270
I have been seeing this project for about 4 years now. I have visited the site multiple times, so putting together my views (you are welcome to disagree)
Traffic: Traffic situation in this location is pathetic. Dont get fooled by someone who is trying to brush aside this issue by saying its bad everywhere in Bangalore. This location takes the cake. it can take about 1 hour+ to go about 1 KM in this area during peak hours.
Water: Again, dont get fooled when someone says water (ground/cauvery) is also an issue in Bangalore. Here ground water doesn’t exist. Cauvery water comes once in 2 days for 1 hour. so dont get fooled when the builder says that they have cauvery connection.
Return (rental): On paper, looks like a fantastic place. close to CBD, close to Baghmane but reality is that this area has no potential. Rental incomes are stagnant. Even small time builders are not able to sell their ready to occupy project in this area. narrow roads, non-existent infra, water shortage could be the reasons.
Purva : I personally dont trust Purva as a builder. Do your homework and check their record. Some examples – (1) Purva Parkridge – no ‘A’ khatha, (2) Purva Fountain Square – no ‘A’ khatha, (3) Purva Venezia – delayed by couple of years, did a shoddy job with amenities so much so that the residents went on a dharna, (4) recently came to know that even Purva Reviera has some illegal construction and (5) their sister concern provident’s fate is well known by now. Add to that the fact that Seasons/270 has been taken to the court by DRDO. Purva keeps saying that the courts have ordered in their favor but when i ask for a proof they say they will share but i havent received it yet. In any case, i would rather go for a clean project then pay over the top and risk getting stuck here.
Delay: Seasons has been delayed by years. I first saw that project in 2010. they have not completed, in fact far from completion. Few times when i had visited the site, work was stopped, marketing/site office was closed.
Landowners share : Interestingly landowner is selling his share for about Rs 1000-1500 psft less than Purva. Make whatever you make of that.
Pre-EMI scheme : Be very careful with this. They are offering a pre-EMI scheme. But there is a catch, builder will only pay pre-EMI for 19 months. I got this when i cornered the sales guy. So if your apartment is not ready in 19 months, your EMI will start. Imagine, you would have paid 100% upfront (your share + loan) to avail pre-EMI. When seasons is already delayed by years what makes you think that they will complete it now in 19 months !
Very good points. Thanks for raising them for everyone’s benefit.
The comments on traffic on road width is a real one. 660 houses additions on that road will be a disaster! No plans for road widening. Wonder how BBMP gives approval without checking basic infrastructure. There is no ground water in that area too.
dear Sachin,
You are right. I first saw this as Purva Seasons in 2013 – they mentioned Dec 2014 completion. I happened to visit August Park nearby (90% complete) and booked my flat there. I lived there for last three years and this month sold my flat due
to change in my kid’s school changed to Bangalore east (to avoid him travelling 18 km one way) . Since Seasons/ 270 is far from complete. In 2014 – enquired 2 bhk for a friend – they mentioned Dec 2015 completion – which has come and Dec 2016 is round the corner.
Add to it the chaos in the morning with the garbage dump just outside and narrow roads to Old Madras + Rainy seasons – it will be difficult proposition. People invest in homes to live and enjoy. The Muslim graveyard is an issue – similar to Gopalan villa property behind Brigade Cosmopolis. Purva 270 may be have give the clue in its name (no 360 degree transparency).
Buyers beware.
How is the graveyard an issue?
yes your comments towars the purva 270 is more valuable, as you have stayed in august park which is near by. thanke for your interest in giveing the info
I will recount 2 instances. Last year around 8 am I went to this place (1km from P-270), the distance of 3Kms from OMR (Gopalan MORE) took me 1hr 15 minutes. Now add the populace of P-270 and you can imagine the future.
Second story…every weekend I visit MORE. Technically this mall is on the road. Yet the 100 meters from the road to the gate or the return journey is a horrible experience.
The OMR stretch (strictly between Pai layout exit towards Ulsoor) is relatively free but every other direction from P-270 (Tin factory, Old Airport Road are extremely congested. I am not banking on DRDO exit. What if Min of Defense one fine day bans outside traffic here showing security concerns?The high price is only to create a psychological feel-good amongst the potential buyers… since-the-price-is-high-I-will-get-a-good-deal. Had the builder been providing helicopter ride facility for its buyers, the high price would have been justifiable. Anything less than that is a bad deal with P-270.
Guys, I received a call from an agency (JLL) dealing on the landlord’s share of apartments on this property. Imagine…this guy starts off with 6,390 psf stating that Purva is planning to hike to 6,590 psf very soon. When I said I am not too excited at the price and was about to slam the phone down, he immediately exclaimed “5,500 psf …Sir, we can negotiate upto this price if you are interested..” I am left wondering – who on earth would want to sell a property – so hyped by Puravankara – by scaling down 1000 bucks psf. There is something REALLY REALLY fishy about Purva Seasons and 270 – especially with the litigation history of the site. My advice – stay away for peace of mind and invest your hard-earned money somewhere more appropriate.
heard that land onwershare doesn’t have club house access.. just check.
Agreee..i remember landlord was selling at 4250 sq.ft.
i am intersted for 4000 rs/sqft ..let me know when we can discuss on this
Please contact Sanjay. His contact details can be found at:
http://harshasagar.com/2012/03/15/purva-seasons-location-price-review-concerns-public-opinion-more/comment-page-1/#comment-28605
I spoke to him. He quoted 4250/- as the best possible price.
When builder is selling at 6550/-, this is a STEAL.
But there has to be a reason behind this Discounted sale. Is DRDO planning to take the matter to higher courts?
i am plznning to buy a 1bhk at purva seasons. the landowner is quoting 6400. plzz give some advice on this about the pricing.
as u know some thing about this project plzz give me some insight in to the pricing which will be the right price now plzz plzz help?????
Read my post on how existing “investors” are already BLEEDING profusely and why they should exit with whatever profit they are getting. How a stagnant market is cutting into their profits….
Find my write-up here:
http://harshasagar.com/2014/02/17/godrej-whitefield-road/comment-page-1/#comment-28563
CCI should look into all the land deals.Finmin , unlike PC should ask banks not to show leniency to builders .This real estate fire is engulfing whole India .We have all channels giving ads on it .Like Satyam Raju they are catching tigers tail. In US average salary is 50000$ a year.In India 1500 $. You cannot have US valuations here, whatever reasons you can give for that. Is that not sounding logical and simple?
hold on to all investments..invest in Mutual Fund..which is tax free and will make 1 cr in 10 years..if you are ready to pay 50k p.m
there are more than a Million apartments not sold…it is going to be worse.
Very True.
Bangalore Real Estate Ship has started sinking. I can see that rats are jumping out (i.e investors are selling at lower prices). Check commonfloor.com. Type any project, and there are several units up for sell.
At the current price, new entrants money will be blocked for years…..Hold on to your hard earned money. You will need it the most.
Remya does not seem to be knowing the demographical status of Bangalore. According to 2011 census Bangalore records the highest growth of population at a whooping 47%. The current population of Bangalore is nearly a crore. SO in 2020, it can be somewhere around 1.5 crores. And inventory of unsold apartments in Bangalore can be pegged at 1 lakh with non-conservative estimates. Assuming 4 people per family, 0.5 crores means 10 lakh+ families. Divide it be 2 and still you have 5 lakh new families being added. So is it going to be worse with the current status? it is for people to decide.
Like it or not Indian population is not stabilising; its is still growing, Our finance minister himself said that real estate bubble in India is a myth especially when there is a huge urban influx and hardly 15% of population owns their own shelter. So please stop this scaremongering and stop comparing apples to oranges.
Real estate bubble in India and Bangalore is going to burst soon. True, there is demand but not at the current prices. The prices need to come down by 20-25% and then the inventory will get sold very fast. Anyone who thinks that the demand for houses will always be there in India irrespective of the price quoted is living in a fools paradise.
Agree that population of India, and specifically that of Bangalore, will continue to grow and that there will never be enough number of houses to accommodate everybody. But do most of this populace have means to buy a house at these prices. Today, it’s beyond their means. Salaries have to go up at least by 50-60% for them to afford one, which we know is not happening soon.
Naturally, slum areas will increase and people will opt for substandard housing from B,C and even Z category builders, which is already happening.
A category housings are turning into investor’s market. But, eventually these investors will have to find a buyer to live in those units. Are there enough buyers? Follow up on few premium property listings in commonfloors.com. You will soon realize how fast (or slow) they move. Ask any premium property agent and he will tell you the current story.
@Vim
How much premium would you like to pay for the fact that India’s population is ever growing and that there is humongous demand for housing? Let’s try to quantify that to reach a reasonable RE valuation.
Construction cost of an A-Class builder is around 1500 per sq.ft. With 19+ floors, land cost per sqft. will not be more than 500. I am talking about land within city limits, not about projects in citi’s outskirts such as Budigere Cross, end of hennur road etc, where it will be much less than 500. So total cost to builder is around 2000 per sq.ft.
Let’s add a premium of 2000 for the population/high demand factor (double the input cost!!). So, 4000 per sq. ft. Add some 200-300 per sq.ft. for marketing, operations cost, etc. So, anything beyond 4300 per sq.ft is hype, even after factoring in the high population/demand factor. Now it depends on you how far you want to go with the hyped prices.5000, 6000, 7000….
If there is a RE crash, prices won’t go down below 4300 for A-Class builders. Hype (speculative) portion will diminish…and your money will be blocked for years….
No.Bubble doesnt work that way. If bubble bursts ,there will be no takers for years.Govt needs to provide support.If not, we will be in deflationary trap,where like inflation ,prices will fall year after year during deflation and people will lose jobs continuously. The pendulum which goes in one direction will turn into undervalue direction. in my village we hav lot of unoccupied houses.No demand at all. What changed.People earning style.Similary in cities also something can change. So your investment always has risk factor.
>>> If bubble bursts ,there will be no takers for years.
Sir, this is what I meant by “your money will be blocked for years….”
RE crash is fine but I don’t see deflationary trend coming. History has it all: Indian Economy and Indians in particular are much more dynamic than we tend to believe. Our people have fought many natural calamities and invaders but still we were able to overcome all and created immense wealth in the process.
Periodic corrections are healthy for all and that’s what I see coming.
Walkable to Metro? Let’s get the advertiser and ask him to walk to metro station. If a person can afford the price, why would they use Metro?
To advertisers/marketers – grow up, buyers are not illiterates to get carried away by this…..
True… Definitely far for every day commute to Metro(Byappanahalli)….
I have seen the area many years back…. There used to be a small canal with water flowing those days….
Regarding population growth @ Bangalore, I agree that population is growing and demand for housing will be still there… But the reality is that there is very few amenities/infra structure provided by govt @ Bangalore and hence difficult to sustain growth in long run compared to other metro cities….
Kavery water is available in that area just from say 1 to 2 years back… Also the road leading to the site just before CV Raman nagar busstand is too narrow in my opinion….
This project started as Purva Seasons and it is still been unsold for obvious reasons…
Sometimes I feel, are they using gold and silver to construct buildings. The builders have gone crazy and asking for skies. If its next to IT park, do IT professionals work and give entire money to builders?If its next to metro , (Bangalore metro is not connecting any two useful place) do you need to pay a few lakh upfront for the cheap ride you may make for few times in the life.80 Lak,1 crore prices are real mad,they are killing the golden goose. Sad that Indian Govt not doing anything.For 1 crore price We need to have 30lak earning persons.How many companies provide that much salary? On rental also, it will not be high.I dont see any of my friends give more than 20k as rent anywhere.Do math and decide.A 15 percent appreciation on 1 crore rupee flat will take its price to 4 crore in 10 years,16 crore in 20 years. Are you sure you bet on this?
Agree bala..all builders think they are from heaven..whatever price they quote people will come and buy..
If the price is 3500 rs/sqft..then i am interested to purchase 3 bhk in purva..otherwise..will better invest in FD and pay rent and be happy
Looking at the progress, Land owner has started offloading his share at a steep discount @ 4900, that too when builder is selling at 6500. Now, that paints the real picture of this project.
Look at this thread for more info:
http://harshasagar.com/2012/03/15/purva-seasons-location-price-review-concerns-public-opinion-more/comment-page-1/#comment-27560
Guys, I stay in this area in a rental property and personally I will never do any investment in this area. The prices are not at all justified nither for Purva nor for August park. The area has lot of basic issues especially narrow roads and poor drainage system. If Purva was able to attract investors then there was no need to relaunch Purva seasons as Purva 270! Even August park is not able to sell all the apartments and it has been in place for few years now!
Any idea why has Purva renamed the Purva seasons project to Purva 270?
as per astrolgy.changing name will make positive vibes in the project..so name has been changed to 270
Purva 270 is the last phase of Purva Seasons (which is already under construction) and hence is part of the same complex. As per the builder, flats in Purva 270 are open on all 3 sides.
People are attracted to new projects. Renaming another phase of the same projects attracts people thinking its a new project. It also gives the builder to market with the new name if the old name had negatives. People will think that its a new project and will not care about the negatives of the old name. It does work sometime, specially people who never see the site and invest sitting abroad. Mantri has also done the same thing with their Manti Web City project. This is becoming a trend now-a-days.
Agree Vinay..but the landowner is selling at 4000 rs/sqft..he seems to be reasonable..
look at the purvas price..they charge 6500 rs/sqft..
better to avoid this till RER comes in place
Is there is difference in land owner and builder’s share? I dont think any one is selling at 4000 per sq ft which will be a genuine price in this area
This property is over-priced significantly. Also same with the location advantages being advertised by the builder which seem a bit hyped up. There are 2 approaches to the place – either via OMR or via DRDO. The DRDO approach is the preferred one but it closes at 8pm and the other approach via OMR is very narrow, marred with dense traffic at most times of the day and can get very desolated at night. The property has been under litigation for some time against DRDO. Although the builder claims that courts have ruled in its favour, it needs to be legally validated. 660 flats in the complex with only 1 gated entry. On the way out, heard some religious prayers on loudspeaker at a distance….assuming you will need to deal with it 5 times a day…. thats still secondary…. Most importantly, was alarmed big time by the fact that the floor efficiency – in the words of the site sales rep is lowest @ ~67% of all the other Bangalore properties I have been considering so far. This means that for 1990 sqft you end up with only ~1300sqft. Again builder claims its due to the spacious common areas and open space in the property. The enticement by the builder on the emi holiday – pay only 15% now and none upto next 24 months or possession is probably going to excite buyers. Too much of hype on brand value of Purva. But you may still have considered if it was a better location, had better approaches, much more floor efficiency Big thumbs down !!! Do consider other better alternatives in the vicinity.
The landing cost is Rs. 7000+ per sq ft. At 5-8% more one can get ready to move in flat in August Park which is very well made.
The major concern with the area is traffic. People who work on ORR have a bigger problem as they have to pass through narrow roads to reach OMR and then go to ORR. For people who work in CBD ot Indiranagar it is more convenient as one can go through DRDO which is relatively quicker.
Otherwise its a good residential area with all amenities and relatively clean (which is tough to find in Bangalore in my opinion). Also in Indiranagar side there are very few apartment complexes and thus costs are generally higher.
I stay in the area and can say this is a fair price for the place but for the fact that possession will be 3-4 years hence.
~M
Dear M,
1. What made you to tell you that this area is clean? – Drive from Old madras to Malleshpalya, You will have answer for your doubt.
2. 6130+Floor charges+Premium charges is Fair Price?
Please share true facts about area and apartment.
Hi Kumar…I actually do but not till Malleshpalya. If you come from OMR and take turn from Big Bazaar or from DRDO to the project it is a very fine place. Going towards Old Airport road is a different matter. I have not seen too many clean areas in Bangalore especially in the newer upcoming areas which are cheaper (typically used for pricing comparisons) and thus my comment. Of course you may disagree and thats quite OK.
From a pricing perspective, it is completely market driven. August Park which is smaller development but has good amenities is at Rs. 7500 per sft. which as I said is only 5-7% higher than Purva Seasons. So price is fair for the apartment if it was closer to possession but expensive as a “pre-launch”.
~M
Hi M,
Is the price of Rs 7500/- for August park All inclusive (excluding registration) or are there more charges on top of this per sqft rate. Also, are there RESALES happening in August Part at Rs7500/-. Hmmm….I found August Park expensive (well expensive means out of my budget) at around 4k per sqft in early 2010 (3BHK was close to 90 lacs then).
I know couple of August park investors who are having difficult time in exiting. They are quoting 1.5 to 2.2 Cr range, putting up classifieds ads. in all major news papers apart from online media (check commonfloor.com). You can check for yourselves in TOI Sunday times classifieds. And it’s been more than a year they are trying.
The Builder sold it at over hyped prices and now investors are suffering. Just do your math: For an 1cr apartment, you will get at least 60K per month (after taxes), which turns out to be 2K per day!!!!!
Metro station might be > 1.5 KM, which is not really walkable. I was really disappointed after reading the project details and checking at the google maps. Can someone verify the distance ?
Thanks
Siva Venkat
Metro station is 2-2.3 kms .It is walkable but why any person spending more than 1 crore would ever walk to Metro ?
BTW, if you drive, it may take you 20-30 minutes if get stuck in early morning and evening traffic.
Worst area of Bangalore. Narrow roads, Railways crossing, drainage system problem.
Area is just hyped because of indiranagar and Bagmane tech park.
Think before putting your hard earned money into this waste project.
People can buy a nice villa in north Bangalore..
Puruvankaras sales was down..everyone can see the last quarter results..the going is not good..
water and traffic is a major concern in this area..