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C-A Belt

Project : Royal Park Avenues (Aishwarya Estates):
They have Phase2 as pre-launch offer at 900-950/sq ft. The Marketing guy said he can give me documents for verifying if I pay booking advance of 1lac. Then, within a month I need to pay 25% of the amount & get a sale agreement done. Meanwhile he will get the BMRDA approval, proceed with development to get release order (which he says might take 2-3 months) & after all this he can register the property.

Few threads in internet have mentioned that Aishwarya Homes (which few say has cheated people in some Devanahalli property deal) is operating in changed name as Aishwarya Estates. One other person however mentioned that they are different and Aishwarya Estates seems a genuine developer & this person has bought plot in Phase1 of Aishwarya Estates in Masoor, Chandarpur-Anekal road after document verification by the lawyer.

Can I go ahead with the deal with these circumstances? Is it advisable to give 1 lakh advance? What if the documents come as clean but he fails to get BMRDA approval? He says he’ll refund the amount but I am not sure if I can believe him completely.


Project : Amoda Springs
Amoda Srpings is on Chandapur-Anekal belt (close to Surya city Phase2). Never met the owner but spoken only to marketing guys. Marketing seems to be outsourced since I came across the same guys for some other property of some other developer as well. The layout was developed first in 2006-2008 with bigger dimension plots (100*120) and had BMRDA approval as well but only one plot was sold. Now, he has converted the same bigger sites into smaller dimension sites and planning to renew BMRDA approval for the revised plan. Should he seek a new approval from BMRDA or this kind of renewal is valid? Plot priced at 700/sq ft (Only Basic amenities no Club house etc ). Not heard of the developer much, anybody who is aware of this builder

Both seem to have good potential ROI but loaded with high risk. What are your thoughts/Inputs?
Any other good projects in this Area?

Amoda springs is not a reputed developer in that location. I would say NO NO for this even if they quote rs.500, because prices appreciate based on various factors not on only bare LAND or PLOT.
So even other developers such as Lotus, SRR, JR, etc.. charges more, but their layouts, elevation are made good.

I visited AModa springs, from the marketing guys i came to know that there are only few plots available in Phase 1 and they launched phase 2 @ 850/sft as a pre-launch offer. they said it can be negotiated, but still 30rs less..nothing much we can reduce in terms of price.

i feel very isolated when i go there, in near 3-4 years no way we can stay or build house.

purely for investment purpose, we can opt for this...

one need to think, when there are other options available, why not to think other ventures.....