BHARTIYA CITY- residential project launched - Page 4 - Real Estate India

Aadiash · 30-10-12

pkollip: http://www.indianrealestateforum.com...hed-44500.html

RAVIKANTH · 30-10-12

Bhartiya City Will Take 10 Yrs to Complete: Bhartiya group launches $2-b township in Bangalore (from Realty Plus Magazine)

October 30, 2012

Bhartiya group has launched $2-billion Bhartiya City, a 125-acre integrated township in Bangalore. The city has IT SEZ component as well.

The group has partnered with Leela Group to operate a 300-room hotel, which is planned as part of the project.

Announcing Bhartiya City, Snehdeep Aggarwal, chairman, Bhartiya group, said, “The project will be developed in phases. In the first phase, we are taking up development of residential, IT office space, retail and hotel.”

“In the first couple of years, we plan to take up 3.2 million square feet of residential, 0.6 million IT office space, 0.7 million retail and 0.5 million hotel,” he added.

The project is located within the BBMP limits. The township is master planned by Perkins Eastman from New York and architects include Broadway Malyan from the UK/Singapore, RSP-Bangalore and Edifice-Mumbai.

“For executing the project, we are leveraging our two decades of expertise in global fashion industry to use design as the differentiator,” said Aggarwal.

As per the master plan, the township comprises of eight districts – residential (Nikoo Homes), mixed use retail, residential and entertainment districts, certified IT-SEZ with an option of ready-to-use office spaces and also an international school, community space and a hospital.

According to Sasi Madathil, CEO, Bhartiya group, the project is a design-driven innovation applied to real estate project. The whole project is likely to be completed in 8 to 10 years.

The group has partnered Leela Group to operate a 300-room hotel. “The group will spend Rs 250 crore for hotel construction and the Leela group will manage the hotel titled Leela Bengaluru,” said Arjun Aggarwal, CEO, Bhartiya City Developers.

“The group has partnered with a few Italian kitchen and furniture makers to provide customised homes at very reasonable prices,” said Swaroop Anish, COO, Bhartiya City Developers

Ark2011 · 30-10-12

From my past experience, avoid projects that in itself comprises of multiple projects, as these take long time to finish, the execution risk is higher and you will be stuck with your investment.

mksudeep · 30-10-12

Hi Ravikanth,

What are your inputs on this property? I live in USA and will be back to bangalore for good in 2-3 years. I am looking at this for own use when I am back, if the project is delayed I plan to sell this and look for a RTM apartment.

Please suggest! Thank you in advance,
Sudeep.

Quote:

Originally Posted by RAVIKANTH

Bhartiya City Will Take 10 Yrs to Complete: Bhartiya group launches $2-b township in Bangalore (from Realty Plus Magazine)

October 30, 2012

Bhartiya group has launched $2-billion Bhartiya City, a 125-acre integrated township in Bangalore. The city has IT SEZ component as well.

The group has partnered with Leela Group to operate a 300-room hotel, which is planned as part of the project.

Announcing Bhartiya City, Snehdeep Aggarwal, chairman, Bhartiya group, said, “The project will be developed in phases. In the first phase, we are taking up development of residential, IT office space, retail and hotel.”

“In the first couple of years, we plan to take up 3.2 million square feet of residential, 0.6 million IT office space, 0.7 million retail and 0.5 million hotel,” he added.

The project is located within the BBMP limits. The township is master planned by Perkins Eastman from New York and architects include Broadway Malyan from the UK/Singapore, RSP-Bangalore and Edifice-Mumbai.

“For executing the project, we are leveraging our two decades of expertise in global fashion industry to use design as the differentiator,” said Aggarwal.

As per the master plan, the township comprises of eight districts – residential (Nikoo Homes), mixed use retail, residential and entertainment districts, certified IT-SEZ with an option of ready-to-use office spaces and also an international school, community space and a hospital.

According to Sasi Madathil, CEO, Bhartiya group, the project is a design-driven innovation applied to real estate project. The whole project is likely to be completed in 8 to 10 years.

The group has partnered Leela Group to operate a 300-room hotel. “The group will spend Rs 250 crore for hotel construction and the Leela group will manage the hotel titled Leela Bengaluru,” said Arjun Aggarwal, CEO, Bhartiya City Developers.

“The group has partnered with a few Italian kitchen and furniture makers to provide customised homes at very reasonable prices,” said Swaroop Anish, COO, Bhartiya City Developers

mahesh1985 · 31-10-12

Check today's times of india. it has first two pages ad of bhartiya city

Gaurav2k101 · 31-10-12

Quote:

Originally Posted by mahesh1985

Check today's times of india. it has first two pages ad of bhartiya city

The brochure, plan everything looks awesome.

But all this is too good to be true.

This is a really long term bet as it will be too tough for a new builder to complete all what is shown here.

Also during next 10 yrs , another recession will surely hit so 2-3 yrs delay of 10 yrs cannot be ruled out.

capcool · 31-10-12

I was wondering if anyone knows about this builder/ his past projects and track record. It is very ambitious to get into a mega project without any track record. It all looks good on paper, but I was wondering about the delivery of the project? From where is the builder getting the funding? If he has some PE funding then at least it gives some level of comfort.

Even Prestige Estates (who have a lot of experience in RE) had to struggle with delivery of Prestige Shantiniketan.. project started in end 2004 and just now getting completed.

IMHO guys think before you invest in it... reminds me of Sahara City project (forget the name) few years (maybe 6-7 yrs) back was in front page of TOI about making townships in many cities across India. At least in Blore it has not even started off the ground.

Be careful guys.. with your hard earned money.

Analyzer · 31-10-12

Looks like a good project. 36 months is completion of residential part. IT park excavation is already underway. Approach road from Thannisandra main road and inside roads, landscaping, street lights are in place. Before launch itself work has been done. Shows the seriousness and intent of the builder. Same area Sobha City, Provident also in progress. Metro also coming in area.

jkgs0302 · 31-10-12

As Sobha city also located in the same road, can we compare Bhartiya City with Sobha city? Though Bhartiya city is new in Bangalore RE, it would be great if someone provides comments on this.

sandym · 01-11-12

People who are suspecting of delays and promises more than what they can meet on time, may i request them to come up with substantial reasons as well for making such claims. I am not against them, but I just wish people not be judgemental as well. Such massive projects can have 1-2 years of delay (actually it happens with much smaller projects as well). Also, do you know the track record of the builder?

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30-10-12	#32
RAVIKANTH BANNED Join Date: Jul 2011 Location: Bangalore Posts: 1,129 Likes Received: 2784 Likes Given: 5 My Mood:	Bhartiya City Will Take 10 Yrs to Complete: Bhartiya group launches $2-b township in Bangalore (from Realty Plus Magazine) October 30, 2012 Bhartiya group has launched $2-billion Bhartiya City, a 125-acre integrated township in Bangalore. The city has IT SEZ component as well. The group has partnered with Leela Group to operate a 300-room hotel, which is planned as part of the project. Announcing Bhartiya City, Snehdeep Aggarwal, chairman, Bhartiya group, said, “The project will be developed in phases. In the first phase, we are taking up development of residential, IT office space, retail and hotel.” “In the first couple of years, we plan to take up 3.2 million square feet of residential, 0.6 million IT office space, 0.7 million retail and 0.5 million hotel,” he added. The project is located within the BBMP limits. The township is master planned by Perkins Eastman from New York and architects include Broadway Malyan from the UK/Singapore, RSP-Bangalore and Edifice-Mumbai. “For executing the project, we are leveraging our two decades of expertise in global fashion industry to use design as the differentiator,” said Aggarwal. As per the master plan, the township comprises of eight districts – residential (Nikoo Homes), mixed use retail, residential and entertainment districts, certified IT-SEZ with an option of ready-to-use office spaces and also an international school, community space and a hospital. According to Sasi Madathil, CEO, Bhartiya group, the project is a design-driven innovation applied to real estate project. The whole project is likely to be completed in 8 to 10 years. The group has partnered Leela Group to operate a 300-room hotel. “The group will spend Rs 250 crore for hotel construction and the Leela group will manage the hotel titled Leela Bengaluru,” said Arjun Aggarwal, CEO, Bhartiya City Developers. “The group has partnered with a few Italian kitchen and furniture makers to provide customised homes at very reasonable prices,” said Swaroop Anish, COO, Bhartiya City Developers

30-10-12	#33
Ark2011 Member Join Date: Nov 2011 Posts: 167 Likes Received: 12 Likes Given: 22 My Mood:	From my past experience, avoid projects that in itself comprises of multiple projects, as these take long time to finish, the execution risk is higher and you will be stuck with your investment.

31-10-12	#35
mahesh1985 Member Join Date: Jun 2012 Posts: 88 Likes Received: 6 Likes Given: 8 My Mood:	Check today's times of india. it has first two pages ad of bhartiya city

31-10-12	#37
capcool New Member Join Date: Apr 2010 Posts: 1 Likes Received: 0 Likes Given: 0	I was wondering if anyone knows about this builder/ his past projects and track record. It is very ambitious to get into a mega project without any track record. It all looks good on paper, but I was wondering about the delivery of the project? From where is the builder getting the funding? If he has some PE funding then at least it gives some level of comfort. Even Prestige Estates (who have a lot of experience in RE) had to struggle with delivery of Prestige Shantiniketan.. project started in end 2004 and just now getting completed. IMHO guys think before you invest in it... reminds me of Sahara City project (forget the name) few years (maybe 6-7 yrs) back was in front page of TOI about making townships in many cities across India. At least in Blore it has not even started off the ground. Be careful guys.. with your hard earned money.

31-10-12	#38
Analyzer New Member Join Date: Oct 2012 Posts: 2 Likes Received: 0 Likes Given: 0	Looks like a good project. 36 months is completion of residential part. IT park excavation is already underway. Approach road from Thannisandra main road and inside roads, landscaping, street lights are in place. Before launch itself work has been done. Shows the seriousness and intent of the builder. Same area Sobha City, Provident also in progress. Metro also coming in area.

31-10-12	#39
jkgs0302 New Member Join Date: Sep 2012 Posts: 27 Likes Received: 0 Likes Given: 0	As Sobha city also located in the same road, can we compare Bhartiya City with Sobha city? Though Bhartiya city is new in Bangalore RE, it would be great if someone provides comments on this.

01-11-12	#40
sandym Member Join Date: Sep 2012 Posts: 139 Likes Received: 18 Likes Given: 13	People who are suspecting of delays and promises more than what they can meet on time, may i request them to come up with substantial reasons as well for making such claims. I am not against them, but I just wish people not be judgemental as well. Such massive projects can have 1-2 years of delay (actually it happens with much smaller projects as well). Also, do you know the track record of the builder?