Embassy Springs is one of the largest community projects in North Bangalore being developed by the Embassy Group, the same group which developed Manyata Tech Park on the Outer Ring Road. The project spread across 300 acres of land is now offering villa plots for sale.
Embassy Springs is a one of a kind township featuring 32 parks, 17 acre natural lake, 5.5 acre man made lake, 7.8 acres of lakeside promenade, 8 km cycle track, 20 acres of Club, School, Sports facilities and 45 acres of green space. 40 acres of the project is also allocated to development of apartments in future. The Embassy Springs master plan consists of ~800 villa plots, ~150 Row houses, ~150 Villas and ~3000 apartments.
Embassy Springs Options
Around 800 villa plots in the following dimensions
- Type 01 – 90’ x 60’ – 5405 sft
- Type 02 – 80’ x 50’ – 4005 sft
- Type 03 – 80’ x 45’ – 3600 sft
- Type 04 – 75’ x 41’ – 3080 sft
- Type 05 – 77’ x 45’ – 3485 sft
- Type 06 – 73’ x 41’ – 2980 sft
- Type 07 – 61’ x 35’ – 2130 sft
- Type 08 – 60’ x 41’ – 2490 sft
- Type 09 – 82’ x 61’ – 4980 sft
- Type 10 – Odd sized
Embassy Springs Master Plan
Embassy Springs Location
4km from the National Highway and approximately 5 km from the International Airport and just adjacent to the Clarks Exotica Resort
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Embassy Springs Price
As of 2nd week of July 2016, Rs. 4000/- per sft.
Take the poll – Is Embassy Springs a good investment?
[polldaddy poll=9468492]
Any developments as was promised in 2016?? Or is it still a hype on ppt?!
hi
i have booked a 3BHK flat in gardenia tower in 2018. if there is any active group pls add me to it.
vikmech@gmail.com
Booked a 2bhk in Embassy edge, if there are more owners in this thread, I’ve formed a WhatsApp group for discussions. Drop an email at embassy.edge.buyers@gmail.com with details to get added to the group.
Is it wise to invest in embassy edge apartment, will it fetch good rental considering there are no major IT park near by.
Has anyone booked a plot recently? Please reach out to me at aj_dse@yahoo.com.
Hi I have booked an apartment of 2Bhk
Hi Prabhu,
Myself Shivaranjini, I wanted to talk to you about the apartment. I would like to buy 3 bhk in Embassy springs. So, if you can help me with my quires, it would be really helpful.
Thank you,
Shivaranjini
there will be lot of sound , flight landing ,takeoff . You may not not get a god sleep after paying so high
Hi Shivaranjini,
By any chance, did you booked an apartment in embassy edge. Need your suggestion, it will help me to make the decision.
HI I would like to know the feedback of this project as well? Especially from people who have already bought plots or apartments here. Thank you
You have hit the nail on the fore head. There is lot of “halla gulla” that more that 60% of the project land was grabbed from the poor farmers & not purchased as they have a strong hand in glove relations with some greedy proliticians of karnataka
From which sources are you saying this?? (Halla gulla)
It will help others to take better decision. Thanks
Hi we are planning to buy in Embassy Spring can you please suggest what is going on in the project , they are keep on postponing registration date don’t know what is happening inside. Any input will help
If their is any owners group of Embassy Springs ?
Pls forward me the details of the group !
Yes we do have a group
Email me
emailsam09@gmail.com
For more info
Thanks
Hi Sam,
I recently bought a plot in Embassy Springs. Can you please add me to the Owners’ group
hi Bikram,
I am planning to buy a villa plot here, can we talk b4 i finalize the property? your knowledge might help me to proceed further.
-Ramesh
Hi Ramesh!
Did you buy the plot here. I’m planning for one. Please let me know if we can connect. My mail ID is sagar.sv86@gmail.com.
Is the owner’s group for Embassy Springs there? Please add me and connect to those who have bought there or have done some research .
i am planning to buy villa plot so please add me in group
I am considering to buy .pls add me too sallypulip@gmail.com
I have bought plot. Pls add me in group.
Khushwant_kumar@yahoo.com
Hi Sam .
I have a plot at embassy springs can u kindly add me – harrymanyata@gmail.com
Hi We have visited the property and wanted to know more about the same. Please add me to the group – Sms310@gmail.com
Can you please add me group as I am interested to buy.
gnanasan15@gmail.com
Can any one update me the price of Embassy Springs
Is there an owner group for Embassy springs? Anyone has really bought or just deliberating?
I met them and their best price is 4525 per sq ft… They claim they have exclusive permissions/authority to lay cauvery water pipes and supply water to that region – very hard to believe.
I didnt like the price being so high and I didnt believe their claim also………..I may be wrong in both 🙂
Firstly:
Just as I was about to tee off at the Milpitas golf course in California this September I heard a “fore” and was fascinated to see a fellow golfer tee off from the backyard of his home. I thought, “What a life/luxury!”
I realised that this 7200 yard golf course is inhabited by a mere 50 families and Zillow (an app that dispenses info on real estate prices) indicated the price of each bungalow was in the range of US$1.1-1.3 million (approx ?7.5 crore).
‘Yes, we do sell affordable homes, if you happen to be Donald Trump.’
One cannot ignore that the US of A was built on the premise that infrastructure (rail, road, bridges etc) are the bedrock of economic activity and the growth of any nation. And the USA has by far the best infrastructure in the world.
Secondly:
The chief accountant of one of the top three builders in Bangalore visited me looking for a job and shared that the builder hadn’t sold more than three apartments amongst their entire national inventory in the last four months.
“Owning a house at present Indian valuations is likely to make you nervous not confident.
After my four-week sojourn in the US, when I returned to India, it took me a whopping 2.5 hours to travel a distance of 30km from the airport to home, And along the way in a traffic jam, I saw a larger than life hoarding of a top Indian builder offering a four-bedroom apartment “starting at only ?6.5 crores”—that’s about a million USD.
This indicates and is reflective of a demographic—that there are a large number of people in Bangalore for whom a starting price of only a million USD for an apartment might seem attractive. And “only” is supposed to significantly enhance the value proposition of the apartment that’s built right next to a crematorium and on illegally reclaimed land near a gutter that emanates more methane than a human body and tolerance can possibly fathom.
Well this is the reality of a country that’s falling apart due to the officer-builder nexus/mafia, and where tier-1 and tier-2 cities are choking to death because of rampant construction.
What a sham on the part of the builder and what ignorance on the part of the gullible home buyer.
The lack of town planning and inherently corrupt city councils have made most cities un-habitable in India. God forbid if ever (once in a lifetime) one has to transport an aged parent or loved one to hospital, he/she will has a great likelihood of being sacrificed along the way because an ambulance has no way/infrastructure to beat the traffic jams.
So that raises a question—what is really the right price of real estate? How in the eyes of that builder is that apartment worth “only” a million USD?
Every asset has an intrinsic value. The cost of replacement or the cost of building the asset is the intrinsic value. Add to it the profit of the seller/maker and that leads to the discovery of the fair market price.
“Most builders who claim to have a 25% attributed to super built-up area actually have 40% mark-up! So a big fraud there.
For way too long (almost since the beginning of 2001) real estate prices have seen only one direction and that’s up. I have a few acquaintances in Gurgaon and Delhi and Chandigarh who gave up their jobs in order to deal in real estate. I’ve seen them buying an asset in the morning and then selling it within two days at a neat profit. It’s almost like the tulip mania (when the Dutch thought that the world was going to run out of tulips).
India’s Black market economy helped. It is conjectured that the top six politicians in India have a combined net worth in benami property and assets that is equal to or more than the top 50 richest people in the Forbes list. For way too long, corruption has siphoned off the nation’s and taxpayers’ wealth to fill the coffers of people in positions of authority. The lack of a robust tax and tracking system has allowed a parallel black economy to mushroom and fuelled a bubble in almost all asset classes, but above all in real estate.
The general cost of construction per sq feet (at standards that are followed in India) is about ?2000. Builders have a funny inexplicable formula of “super built up.” They sell part of all public areas to the buyer and add that to the area of the flat. Most say that the mark-up in the area sold is only 25-27 %. That implies that if one is buying a 2000 sq ft apartment, one is likely to get 1600 sq ft of carpet area. Well if this is the norm and is legalised, it’s good too. But the truth is something else.
“Today, the monthly installment over 20 years (if you own a house) is generally 3.5 times the present monthly rental of the same house.
My mother, like all mothers on the planet, wants to see her son own a house. The proverbial “one’s own roof over one’s head” in times of future distress. So a few years back I did start looking for a house but instinctively bought a laser area calculator (digital planimeter) to find the floor area of the house being sold. I used to carry the device during each visit to an apartment. Surprisingly most builders who claim to have a 25% attributed to super built-up area actually have 40% mark-up! So a big fraud there.
A house is an emotional investment and very few people carry a planimeter when selecting a potential purchase. And the brokers have a knack of playing with buyers’ emotions by painting the picture of a perfect home and actually talking about the location of the temple, the balcony , the virgin sun rays in the morning and generally making a customer believe that the said asset is being eyed by seven other prospective buyers. And human beings are emotional, gullible fools generally governed by cognitive biases.
Besides the 15% defraudment (unavoidable premium that one pays for the other person’s fraud) one has to pay for parking and floor uprise, etc etc. Talking of Bangalore in particular, a typical third grade apartment in a smelly location ends up costing about ?20,000 (UA$300) per sq ft of carpet area—and by the way you don’t own a piece of that land.
The recent demonetisation has taken the wind out of the sails of this Ponzi scheme and the forthcoming RERA (Real Estate Regulation Act) is likely to bring some discipline but how will the builders make their infinite profits while duping the gullible customer? They won’t be able to.
And that will start the big correction in the real estate market.
Today, the monthly installment over 20 years (if you own a house) is generally 3.5 times the present monthly rental of the same house. So if someone typically buys a home between the ages of 35-40, he/she is likely to pay 3.5 times the probable rent of that same place in EMIs (equated monthly instalment). Can you imagine paying 3-4 times your monthly rent for the next 20 years of your life just to gloat about owning a house—and then being stuck with it?
“Imagine your desire to live your life fearlessly and meaningfully on your own terms but not being able to do so because of the burden of your EMI?
The only certainty in life is the uncertainty around it. Imagine being retrenched in a downsizing exercise, or having to change your job? Owning a house at present Indian valuations is likely to make you nervous not confident.
Imagine being unreasonably bollocked by your boss and that irresistible feeling once every few years to tell him to go to hell. But not being able to, because the payment of EMI is just round the corner.
Imagine your desire to live your life fearlessly and meaningfully on your own terms and conditions but not being able to do so because of the burden of your EMI?
The logic behind the “round the corner” housing market crash is simple. Too much easy money has flowed into this asset class and the present prices aren’t sustainable. Either the rentals have to double from the present levels (which they can’t because that’s a function of demand and supply) or the real estate prices have to correct by at least 50% from the present levels.
Sadly, I believe my mom will never see the proverbial roof over her son’s head in the near future.
I have booked a plot .. I am forming a embassy Springs Owners association on facebook and what’s app . Kindly send me your details on emailsam09@gmail.com to discuss the problems and targets on closed platform.
Thanks
Sam
arent there existing owners group for embassy springs? can we create a whatsapp owners group instead of facebook, etc. sending my whatsapp number
Please add me to the owners group ritblitz@gmail.com
I think in a few years this project will be a sougght after residential place. The amenities/planning/rules with in the project will make it a good place to reside in.
With metro slotted to come nearby, hopefully travel to other parts of the city will not be a hassle.
Compared to a 3bhk costing 1.5cr+ in the city i feel this is a much better option…just booked today!!
Checked out the noise from the flights and did not find that to be much of an issue (felt more so in ozone urbana)
There will not be any other project of this size, amenities from any other builder in this area as it needs a builder with deep pockets…
Hi
Any ides when the second phase will be launched ie apartments and Row houses..
Go with the cheque book and start bargaining very hard from 90L, you might get it for 95L….Otherwise also we are not going to lose anything – walk out from the project. This is not worth 1Cr as of today. This bubble will break very soon.
Hi Krishna,
I would like to know what is the current price going on? Can you share some info regarding this?
Saying 1.2 Cr for 2100 sq ft ( all inclusive )…But ask for 80L/90L and see their response…
All developers are claiming high prices….Because it is embassy, this is worth 80L and not 1.2 Cr….
Sobha says 80L per 2400 in IVC Road…ideal should be around 55L-60L….Sobha doesnt guarantee any amenities there…so this 55L also is a bit high…
Century says 48L per 1200 in IVC Road….ideal should be around 30L…………Century has some amenities….but 48L is too much ask…
I also think the same…..Prices were at around Rs.4000/sq ft in Dec 2016……Now they are quoting Rs.6000+
They are trying to make the best before RER April 2017 – if the speculation is right, the prices should come drastically after April 2017 – but i dont know why 🙂
Anyways I am going to put 90L as my offer price and lets see what they say
Mr Himansu, is it really 6000 now? I doubt,may be you quoted wrong, I think u wanted to say 5000
For 2400 sq ft…all inclusive, they are saying 1.4 Cr… ~ 5800/sq ft
HI
Have you purchased it. Can you please ping me at gnanasan15@gmail.com
Hi Himanshu!
Have you bought the plot at embassy. If yes, need some help. Please let me know at sagar.sv86@gmail.com.
HI Krishna,
did you manage to get the deal? if so at what price?
Is any body bought plots in Embassy springs. I am intrested to buy. Is it worth buying now after this demonitisation. Do any body know what is the price at present in embassy springs.
Before you purchase at this project, find out prices at other projects within just 03 km radius. You will find it is very much overpriced.
What is the price after demonetisation? will it impact bangalore real estate? when do prices come down?
just wait and watch for 1 year..prices will crash by atleast 60 % as per bankers. There will be lot of clarity after April 2017 once RER comes into picture.
It will not go down, its just some people view,may be in some area dpending on demand and supply
why wait 1 year…wait for 2 years,you will get 120% discount.So the builder will give you the plot free and 20% token amount.
This project plot are sold more than 50%. Though there is a slow down, it will not go down below the 4500.
Nobody is saying builder will give plot for free. The current rate is exorbitant. Reasonable rate maybe Rs 2000/sqft. Please dont get irritated if you are not able to sell/market this project,
well said mr Rakesh, you are comparing donkey and horse, I agree there are even 1000/sft plots there, but isolated small, undeveloped layout where no one will make any home. This is township with very high quality. and commitment by builder for long term support and development.
Mr. Rakesh
Save your energy. Common sense is not so common. People who buy at 4500 per sqft will not be able to recover their money for next 5 years at least. People are being fooled by these developer who keep raising prices for no reason. There are equally good layouts like Ferns Aspen Heights on hennur bagalur road which are available at Rs 2500 per sqft. The layout is excellent and has top end amenities. In addition Hardware, IT and Aerospace park are coming opposite to the layout.
If you want to go for Embassy Springs negotiate for Rs 3000 per sqft.. even that is too high.
i have seen both layouts and quite few others in north bangalore. B=I think if you want to live in a secure layout with good amenities then go for embassy spring. It may or may not be a good investment option.
But cannot compare fern with springs..totally different categories..
The plot is overpriced. Post demobilisation all projects will crash by at least 50% if the money is genuine else the builder can hold this for very long time and start thinking of selling for very high price. As per bankers..the real estate is going to be very cheap bcoz lots of builders are ready to sell the projects for loss and think of new projects bcoz RER will be implemented by April 2017.
Bangalore is an end user market unlike Delhi and Mumbai. It willl not go below lunch price.
Yes.. I am sure after selling it you should be able to buy lunch.
also what is the price you think it ll be in say 10 years if i plan to sell this
hi,
what is teh final price per sqft,i am ready for a 50% down payment
I request all of you to stay away from such unscrupulous builders who can go to any extent to destroy the habitat for monetary gain. I hope all of you know which politician has a stake in embassy. Excerpt from news article as to how steel flyover will benefit Embassy:
“They have pointed out options kept open to provide road connectivity to a few upscale properties – including Esteem Mall and Embassy Lake Terraces – through the service road leading to the up-ramp (road from down to up) of the flyover as one approaches the city from the Kempegowda International Airport (KIA) side.”
So, 1800 crore of public money being spent to benefit Embassy!! Speaks volumes about the builders ethics.
Are they also selling apartments?
Is there any group formed by owners?
I did create Yahoo group some time back however created with intention for owners only.
Hi,
I have booked a plot at embassy springs. Request you to include me into the group
jaymenon1903@gmail.com
I think this builder has high profile political contacts so chances of illegalities are quite high. So proceed with caution.
1.2 Cr for plot that too 16 kms from Hebbal lol. Hebbal itself is around 15-16 kms from majestic. It’s better go to your native place n invest.
Good. Prestige villas are another 20 KM Embassy Spring. 4 Cr plus and it is sold off. What say
When is the handover or position of the plots, when can we start building in case we book the site now, any idea?
Hi,
Handover of plots starting from Sep,2017 onwards
Hi handover of plots will be from sep 2017 onwards.
For more information get me at pd10111989@gmail.com
I am also thinking to book a plot, can anyone tell me the restriction if we plan to construct a house in the future, like setbacks, FAR.
Are all the plots adjoining eachother or do they have space allotted in between.
Pravin and All, I came to know that if we go together in a group then we can do better negotiation with Embassy group from a cost perspective so I am also looking to buy so i request all interested buyer to connect me so that we can approach as team for better cost negotiation.
at abs.alluri@gmail.com
i am interested too. lets go as a group, lets find the best price we can get. can we do it asap
prakashmall@yahoo.com
Hi
I am interested in this property. Anybody visited site recently to check status of project. When I talked to them they given price of approximate Rs.4738/sqft. They are increasing the price every week which I feel they just want to create demand unreal. As you all discussed, if we could approach builder for group booking, we shall get a good deal. Please let me know if you have any further info.
You are correct. I think they getting regular booking. They know that there is demand for the project.
Best thing is if it suits your requirement and happy with the property visit and negotiate and book.
there is no demand..people who are saying there is demand are brokers..
If there is good demand, they will not offer schemes like 20:80 etc and advertise daily in newspapers. Please dont create artificial demand.
I agree. there is no demand now.
Yes, that is another marketing strategy to create hype that prices are increasing every week. It’s a huge project with maybe 1000+ plots. So be patient. NEGOTIATE hard
Total no.of plots are 1147, so keep calm and take decisions.
Hi Bala
I’m keen to go for a group booking, pls add me in too. Satishkumar24@yahoo.com
Friends,
Let me add my experience here. Recently I looked around almost entire Bangalore. HSR/HRBR/JP Nagar/Jaya Nagar. also looked at few Villa projects. Plots/Old house 1200 sq ft costing close to 1.6 to 2 Cr. Villas, Common Walls. If you want a house/ not a flat, you need a decent plot size. Nowhere you can get 3000 sq ft of plot for 1.4Cr within the city limit.
After searching for 3 weeks, I landed in Embassy Springs. It is just 3 km from airport road. In the next 3 to 5 years, there will number of malls will come in and around. I booked a plot size of 3080 sq ft. I will plan to construct in the next 3 to 4 years. 3080 sq ft plot size can provide a decent house, car park and lawn if I plan. All the roads are choked in our garden city. Approach to this property is excellent. Someone took me to 12 Km on Sarjapur Road from Outring Road Junction- May take 20+ years to develop. May be I am thinking that this is good for me when I go stay after 5 to 8 years near my retirement. My total cost is 1.69Cr.
Hi Thiru,
I am trying to explore different property and came across embassy spring. Since you already booked a play so can we talk, I can be reached at abs.alluri@gmail.com
Thanks
Bala
Currently the price is Rs 4850/sqft
Pritam,
As requested, It is good for us to go as group to negotiate price. So pls connect with me instead of connecting to Embassy team directly as everyone know group is always stronger than individual which builder always take advantage. Apart from that I booked a plot last week and came to know that if I would have gone in a group then they would have give better discount hence base price can’t be Rs 4850.
Pls connect me with at abs.alluri@gmail.com and if I am able to do 2 or 3 serious buyer then I can assure you better deal compare to you guys goining alone.
Dear Bala,
As I too am interested in buying a plot here, your suggestion to get connected is a good proposition. Please count me in.
Thanks,
P.S.Reddy
If anyone can tell.me.what is current price for plots?
This is an overpriced project. Rs 1.2 Cr for a 2100 sqft plot is too much. You can get a very spacious 3 or 4 BHK apartment in a gated community right in the city, close to schools, colleges, super markets and you will also be closer to metro stations, hospitals and Railway Station. Gated communities coming up close to metro stations are Bhartiya City, Sobha Silicon Oasis, Mantri Lithos (inside Manyata Tech Park) etc. You may say Embassy Springs has shops, schools & hopitals etc.. but you will have no other choice. For example the vegetable vendor may charge you exorbitant prices and you will be forced to buy from that shop only because you are too far away from the city.
Thank you Jarnail for sharing your views 🙂 .What you mentioned is absolutely correct ,but regarding your point on buying apartments I have a different view point.If you buy any villa plot in gated community then you would be the owner of the land but in case of apartment the share of land what you get would be very less.Apartments would have too many issues after ageing and they would not have much appreciation.Kindly share your view on villa plot vs apartment….
Thanks Sashikala for your input. Different people have different budgets and different requirements. If someone has 1.2 Cr to spare for a plot and another 70 to 80 lacs budget for construction, if he/she will be okay with the exorbitant prices charged by in-house shops/shopping mall in a remote gated community because there is no alternative nearby, and if someone loves to be away from the city, good hospitals, metro stations and just wants a peaceful life, & if he/she is okay with his/her kids studying in the in-house school whatever its faculty may be, then this project is good enough. Also, to live there means you have to find a job inside the campus or somewhere nearby. You can’t commute to whitefield or Electronic city using a bike or car daily if you know the condition of evening or morning traffic now a days.
For me, a good community should be accessible, close to your job site, close to bus stops and metro stations. There should be a range of Schools and colleges, hospital and clinics, malls & shops and restaurants to choose from so that no in-house vendor is able to establish its monopoly.
I agree that in an apartment the land share will be too less, but my price will also be less as compared to cost of plot + construction cost. Also, I will have a range of options to explore outside if in-house school, shop, restaurant is not upto the mark. Right now it seems that builder is charging the same rate what it should be after 5 years when the project is fully developed with all amenties in place. That is precisely my point.
If the aparment is constructed by a good builder, nothing willl happen to it for at least 50 to 70 years. I have seen some Sobha apartments constructed 10 to 15 years ago and the building still seems like brand new. If you compare it with DS Max, then I will not argue. Also, there are some gated communities inside or just at the outskirts of the city, where you can still have an individual plot at the rates lesser than this project for example in Yelahanka. You will still own your own plot, in a gated community, and you will be part of the city. Of course, same type of amenties will not be there but the builder has to create these amenties to attract the investors otherwise who will buy at such a price?
Jarnail,
Amongst all the comments in this section, yours is the one that makes the most sense to me.
I have been in this city all my life and I know how these builders overprice their properties at the start of the project. You say :
“Right now it seems that builder is charging the same rate what it should be after 5 years when the project is fully developed with all amenties in place. That is precisely my point”
This is exactly what my thoughts were, when they said that it is Rs. 4700/sq.ft .
All the other comments in this section egging others to buy seems to come from brokers who are pretending to be buyers – so that an artificial demand can be created.
I spoke to the embassy group sales staff. They tell me that the plots are available for hand-over, starting late 2017. And apparently, for the entire project to be completed, it will take 10 years (atleast). I asked them about the acute water shortage that North Bangalore area faces. They said that they have borewells. And when these borewells dry out, they will buy water from Tankers.
I think, the success of this township depends on the proposed SEZ in North Bangalore. It has been 6 years since I started hearing great stories about North Bangalore. But a site visit to this area only shows dismal progress.
What is happening in Devanahalli North Bangalore is that it is not an end user market. It is an investor’s market. People are blindly buying and offloading (selling) lands to make a profit. A piece of land may have exchanged 3 or 4 hands over 5 years. Thats why the prices are so artificially high near main roads – this is happening even though the villages here struggle for water for drinking, let alone irrigation.
I personally think that, it is not a good idea to be too early in a new real estate market, in a place like North Bangalore.
The reason why all these SEZs in North Bangalore are being promised is that, a good number of Karnataka politicians bought large chunks of land in North Bangalore around mid-2000s when the airport was announced. And now they are coaxing the IT industry to move here so that their lands will be worth a fortune. Luckily the IT industry is not that dumb. Infy moved out of Devanahalli a long time ago. Other new IT companies still prefer Whitefield or Electronic City area or the Ring Road Tech parks.
Read this: the government (BMRDA) itself admits that there is going to be a massive water shortage in Devanahalli. And thus the development activities have been halted.
http://timesofindia.indiatimes.com/city/bengaluru/Depleting-water-table-could-hit-city-outskirts-hard/articleshow/50665373.cms
City type development may come to Devanahalli, but maybe in 15+ years.
All other points of yours are very well thought out and well written, Jarnail. Thank you ! 🙂
I agree, what you wrote is sensible and logical. I don’t understand this gold-rush mentality for North Bangalore. From what I have seen, upto Jakkur and maybe 2-3kms of North is OK, but after that you its not really good place to live and no way justifies the ridiculous pricing going on now.
what is the best price, ,if i can pay 70 % downpaymnt
Have you blocked the site?Please let me know.
Has anyone booked a plot,please let me know.I m intrestred but in confused state 🙁
Hi Can you please forward your number and email Id, i will give you brief of this project.
Hi Sashekala
Med too interested in this project pls share ur views to my mail id. jingu13@gmail.com
Sent email to your id.Kindly check.
Hi sashikala I have blocked the site.
Hello sir,
I am finalizing my plot and have few questions. Can you please ping me at gnanasan15@gmail.com.
Hi Sashikala, have you visited the site. This is an investment for you stay closer to retirement stage. if you have school/College going kids, then this is not an option for the next few years. This is my personal view. However this project has an excellent approach to the main road.
I have studies their agreement in detail. Here are some worrying points:
1. The lock-in period as per agreement is 24 months, so you have to pay them fully and get it registered under your name. This is a strict No-No for investors who want to book their profits and quit early.
2. If you do convince the management to sell your plot early (as per agreement, you have to take their permission in writing), the transfer fee as per agreement is upto 5% of the sale deed, which will be big detterence for the investors.
3. A 2400 sq ft east facing plot costs you close to 1.38 Cr and if you think it will double in 4 years (it is 20 kms from Hebbal, there are no employment opportunies, no markets, no schools and colleges nearby right now), you are living in fool’s paradise. I don’t think there are people in Bangalore who will pay you even 2 crore for the plot you bought at this price, after 2 yrs from now, if there are no schools, no colleges, no hospitals, no markets, no temples nearby. Embassy says they will develop all these facilities in-house, thats fine, but it will take another 5 – 8 years from now, and they are charging you for these facilities today itself.
4. Best course of action is, put your money in 4 – 5 mutural funds and let it grow @ 15% per annum. If the project gets develped as they say, you will have enough money to buy in this project from resale market.
Anyone visited the place?
I got a call and the price mentioned was 4500. so the price was starting form 1.2CR
Price increased by Rs.25/sqft
Thanks for the prompt reply. Is that price increment happening on a daily basis?
WHAT IS THE CURRENT PRICE….
Current Price is Rs 4525/sqft
Hi,
Now the current price is Rs 4850/sqft
The price I got just now (without any negotiation) is 4625. I am sure they will come down. This price is too hefty for this location
TO DEVELOP COMPLETELY IT REQUIRES MIN. 10 YRS
IT stagnates .RE may stagnate gor 10 to 20 years like japan or US.where is well paid jobs in india.after 40 retaining IT jobs difficult
Embassy has reputed name in real estate. Though price is at higher side, It is worth to visit this locality and decide.
Embassy Springs has a Master Plan of Happiness. The North Bangalore area is already booming and it’s going to be the happiest project for investment point of view in the years ahead.
Pritam, do you work for Embassy? 🙂