Beware of the new projects

[msn1270]

hi friends,

in the last two weeks, after the dubai real estate crash, lot of domestic developers are giving full page adv in the leading newspapers in the name of New launches, Value houses, ...etc in full pages and trying to attract the buyers with a registration deadlines.....etc. Please stay away from these new projects.

Its is ia big drama from the developers to milk the buyers money and definitely for cheating the customers. As soon as they heard about the Dubai real estate crash, and world's leading financialists are already warning that the next real estate bubble will be in China and India. So these guys are fooling the customers and trying to get a pie of money before the crash so that they can invest this money to complete their existing projects.

The second reason is shortly govement is planning to amend a new real estate act, as per that the developer have to get approvals from all the concerned authorities like BDA/BBMP/Fire dept/BWSSB/KPTCL....etc before he starts to sell the project. these two reasons already creating a panic in the real estate field.

To before the above two instances happen, these greedy developers wants to make some money, so that they can relax for atlest next 2 years.

Also you must know that, 2 months back, provident housing(A purvankara Sister Co) made a big news saying all their apt units were sold out in just 2 days of exibition(The so called Bangalore North Project which is in Doddaballapura town). But in reality even now (Last friday) also he has given adv for the same project in the same news paper.

Secondly none of these developers have given the site address of their new projects. They've just given their office address in the advertisements and put a* saying terms and conditions apply(God only knows their T&C).

My suggestion is PLEASE STAY FROM ANY KIND OF REAL ESTATE ACTIVITIES UNTILL THE PICTURE BECOMES CLEAR IN NEXT 1-3 MONTHS.

[bhr2009]

I agree with you. Out of curiosity I went through Brigade's so called Value Home application form. It is nothing but , as the builders themselves claim , is a Expression of Interest. So may be just checking the market trend.
Media is desparately trying to hype the reality market and we all know who is leading in this. May be for real news about bangalore realty, we need a another 'crest' edition.

[duffyhair]

this is one of the last ditch attempt by the developers to get rates close to boom period..

[suglb6]

Definitely.....Its a big gimmick by RE....
If you read Brigade value homes terms and conditions, you will get to know the reality!
Basic cost of the flat is 26L for 1100 +
19-21% for other charges + club charges ..so it comes definitely more than 33L.
33L for 1100 sft is too high for location they have mentioned.
Basically what they have done is
1)they have reduced the size of the apt ( 1100 sft super built up for 3 BHK is too small)
2) Location is too far...(Devanahalli,kengeri ...)
and trying to woo the people with "Value homes"..
In reality, The price what they have quoted is very very high for what they are offering...

Beware !!!!!!!!