Yes, i’ve seen this, but here are my top concerns.

1) SJR\Bren has track record of NOT delivering any project on time. I mean, literally not at all.

2) There is nothing much a buyer can do if they donot do a buy back after 21 months. Every damn agreement, any piece of legal paper is always in the favour of builder. Every medium\big builder has huge legal wing to make agreements in favour of company. And our jurisdiction system isnt much helpful, as all agreements are already in favor of builder.

3) Being near lake is the biggest concern. In future if BBMP wakes up and say “this is illegal construction”, builder will ask you settle with govt but not with him.

If this is for end use, i would recommend to buy ready to occupy flat even if it is slightly costly. And bargaining is the key, do not hesitate to bargain, remember sales\marketing team are not your superiors. They are struggling to sell.

Hi Rajesh… Thnx a lot for ur valuable inputs…

How about considering only BuyBack plan, is it worth going forward ??

One +ve thing I have towards Bren, is being such a big builder.. If they DONT Pay back us our money, it will be great a remark to them. Isnt it ?

Thanks in advance for ur advise.

Hi Rajesh… Thnx a lot for ur valuable inputs…

How about considering only BuyBack plan, is it worth going forward ??

One +ve thing I have towards Bren, is being such a big builder.. If they DONT Pay back us our money, it will be great a remark to them. Isnt it ?

Thanks in advance for ur advise.

What do you mean by great remark? No it wont be a bad remark on builder even if he cheats you.

For example, currently all SJR\Bren projects are running behind schedule. This is causing lot of pain to end users in terms or increase in interest burdens etc. Ideally this is good enough to create bad remark on builder, But look at yourself, you are ready to invest with them.

Same thing happens if builder doesnt stick to his promise after 21 months. People are fools and continue to invest, but as a end user you will be at loss.

I’m not discouraging you at any cost, please read the agreement very carefully before going forward. Get the agreement verified with morethan one lawyer, understand pits and falls, Make sure it is not one sided, and then proceed. Good luck!

Hi – Here are the T&C for the buy-back. No where it mentions the % of returns. Also, I am not a expert on interpreting the pros and cons. Can you please highlight what other clauses are against the buyer that would discourage you to sign up?

Thanks!

TERMS AND CONDITIONS:

1. Offer is valid for limited bookings & period only.

2. The purchaser will have to avail loan from Punjab National Bank HFC, ICICI, Axis Bank, LIC, &

IDBI, and get the loan disbursed within maximum period of 21 days from the date of booking.

3. BREN Corporation will not be liable for the loan approval & delay in loan disbursement.

4. Loans are subject to the eligibility of the buyer & are purely at the discretion of the bank.

5. All the relevant documents required for loan approval should be complied with, between the bank

& the purchaser.

6. The apartment cost mentioned is ‘all inclusive’ including registration charges, currently

applicable. However the same and other statutory charges are indicative only, and any subsequent

change in Govt. policy will be applicable to all (borne by the purchaser), at actual.

7. On Cancellation of booking, Pre-EMI, bank charges & all other charges applicable will be

recovered from the buyer as per sale and construction agreement.

8. Shifting of unit will not be entertained under this scheme.

9. BREN Corporation will bear the reimbursement of Pre-EMI till March 2017. The Pre-EMI will

be paid to the client on monthly arrears basis on the following month of the preceding month.

10. The hand over date fixed for the possession of flats is by 30th September 2017. In case the

Purchaser opts to retain the unit for self use, Bren Corporation will reimburse the Pre-EMI only

till March 2017. The purchaser will bear the Pre-EMI interest from April 2017.

11. The Own Contribution (OC) amount should not exceed 10% of the total unit value.

12. The Pre Emi calculations will be based on loan tenure of 20 years and at floating rate of interest.

13. The reimbursement of payment of Interest under pre EMI scheme for the first month will be

calculated on a pro-rata basis.

14. BREN Corporation assures refund with returns on the own contribution (viz., 10% of the unit

cost) made by the unit purchaser at the end of March 2017. Tax liability will be taken care of, by

the purchaser / beneficiary. However TDS will be deducted from the profit earned and the TDS

certificate will be issued to the respective Purchaser accordingly.

15. The Purchaser should give a written intimation prior to 31st December, 2016, to BREN

Corporation in case he/she wants to opt the buy-back scheme; if not, the booking be treated as a

willingly retained unit by the purchaser. Once the purchaser agrees to retain the unit, the buy-
back scheme will not be applicable and the developer will not be liable for assured returns.

16. BREN agrees that this letter would supercedes the Clause No.1 and sub clauses mentioned therein

to Clause No.1, of the sale agreement inso far as concerned about the delay in payment and

termination of the Agreement. Similarly this letter would also supercede the Clause No.5 and sub

clauses mentioned therein of the Construction Agreement concerning the delay in payment of

construction charges and consequent termination. In view of the buy-back scheme offered under

this letter, BREN further agrees that, the clauses referred to hereinabove of the Sale and

Construction Agreement would not be applicable to the Purchaser.

Hi, my advice is to never ever book a flat with bren corporation.I have booked a flat in Bren Edgewater under this scheme but due to some personal reasons had to cancel the booking.

It’s been six months, the Bren has still not refunded my cheque.they never call us to update about it.we are literally frustrated with following up with them and is now approaching the Bangalore police to solve this.

Please do not go ahead with them.

Hi Anita,

Even we are facing the same problem. It has been a year and still they are not returning our booking amount.

They don’t respond to our calls, nor do they commit to a date to return our money. We are very frustrated and tired too.

Can you let me know if approaching the police helped you?

I am looking to buy in this neighborhood. Will be cautious about their refund policy. I also wanted to be sure of the legalities. Saw their entire legal report on Zippserv CleanProperties and understand all the aspects. You can see it here https://cp.zippserv.com/bangalore/bren-edgewaters-kasavanahalli-sarjapur-road/IV51