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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Bangalore > News about Proposed Infosys Campus on Sarjapur-Attibele Road
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Old January 15 2012, 04:15 PM   #1
 
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Default News about Proposed Infosys Campus on Sarjapur-Attibele Road

Note: I originally wrote this piece on another blog, but thought of replicating this in this forum for wider consumption/dissemination of authentic information. All hyperlink references point to Govt websites.

Hello People,

Please don't go by musings posted by people that either hate IT growth in Bangalore or are ignorant/foolish enough not to check their facts.

Following are some facts concerning Infosys Sarjapur road campus:

1. Infosys has complete ownership of about 258 acres of land in Sarjapur-Billapur area on Sarjapur-Attibele road. Check Infy's report filed to US stock markets. Link: http://www.infosys.com/investors/rep...rm20F-2011.pdf

2. The SEZ board of Indian Central Govt has given formal approval for the Infosys Project. Check the link: http://www.sezindia.nic.in/writeread...lapprovals.pdf

3. Even the Karnataka State Govt has given formal approval for the same project between 2010-11. Check the link: http://www.bangaloreitbt.in/worddocu.../AGM%202010-11[1].pdf (says 365 acres of own land).

4. Check out Karnataka Govt Gazzette Notification: http://gazette.kar.nic.in/09-09-2010...2281-2360).pdf

Now, let's go to some negative media/Infosys reports:

1. Bangalore losing out on the 'IT hub' tag? - India News - IBNLive Mobile. After cribbing incessantly until recently about Karnataka State Govt approvals (mostly by the then HR director Mohandas Pai), we now have a Mr. Ramdas Pai quoted by the IBN report saying 'water & road connectivity' as major problems. Let's get to them:
a) Water: As seen in Karnataka Govt docs above, it is true that the state govt has promised water through KIADB. But if u look closely, that is only a small portion of the total requirement. In other words, Infosys is required to source most of its water needs from rain water harvesting and they also have approvals to dig borewells. And 365 acres is a lot of domain to harvest enough water to serve any number of non-resident employees! The IT industry's water needs are limited to domestic use unlike other water-dependent industries!
b) Road: Connectivity? What??!! The 365 acre property has atleast 600 meters facing SH-35 (state highway - Sarjapur-Attibele road). The SH-35 leads to National Highway 4! For those that aren't aware of the location, check out Wikimapia - Let's describe the whole world! Wonder if Infosys is expecting the State Govt to build their internal roads!!

Anyone with little common sense would trash the above two as silly reasons for the delay in setting up the project. Infosys has claimed that without these two, their costs would go up 10% over an estimated cost of Rs 1000 Crore = Rs 100 crores. That's pittance for a Rs 1.6 Lakh Crore by Market Capitalization company! Remember there are hundreds of other IT companies (both Indian and MNCs) that thrive in a so-called difficult-indian/bangalorean-terrain. Those companies fend for their own water and space. They don't complain. And they are here to stay for a reason.

Bottomline: If you GRANT the benefit of doubt to Mr. Ramdas Pai as being misquoted, we have a jealous/ignorant journalist with CNN-IBN/CNBC - Sunanda Jayaseelan. If you DENY the benefit of doubt, this whole saga about Infosys-Sarjapur campus is a classic case of 'SOCIALIZE THE COSTS, BUT CAPITALIZE THE PROFITS' by the greedy echelon at Infosys

 
Old January 17 2012, 07:11 PM   #2
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Hi Ashwin,

Will this really happen ?? I see that the entire plot compunded well on the main road dont see any progress with this project , also I have been hearing that this project has moved to Pune ?? Please update your research on this project and the Azim premji university

Regards,
Manjesh
 
Old January 17 2012, 08:06 PM   #3
 
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Guys,

There's nothing like 'this project is moved to Pune'. True, there were delays in state govt approvals for land conversion (aka bribe demands), but it is a fact that state govt gave approval for land conversion in 2009 itself. Only after that, as mentioned in my post, did the state govt give various types of approvals like Pollution Control Board, BWSSB etc. Simple google search would fetch you those docs.

Now, tell me which company would let go of a 360 acre+ own land bank like the one Infy is currently holding in Sarjapur/Billapur area? I say 'own land' because it is not even leased from Govt like Infy's current headquarters in Electronics city! Despite tall claims by politicians of other states promising land, the ground reality is that a politician is a politician in any state and their tongues have the potential to recoil or roll 180 degrees backwards the very next second. Each so-called 'moving to' state has its own story. It could have been a Singur in WestBengal yesterday or a Telangana toast for Hyderabad in AP today or simply something else with Pune tomorrow. I don't have to be as old or wise as an Anna Hazare to understand these dynamics

I believe Infosys is currently simply buying time in the midst of the current global economic uncertainty. Infy has 1.5 Lakh employees and still has good amount of 'up the curve' employee net addition remaining (TCS has around 2.3 Lakh). Being a s/w engineer myself, I am standing testimony to how a company's plans to grow in other cities like Hyderabad or Pune fare. The majority of IT guys simply want to stick to Bangalore [take for granted the local kannadiga like me, but even folks from out of state are finding Bangalore welcome and promising to relocate forever... With their past, present and future... Grandparents, parents and future-kids ].

Now, it is up to you to believe blindly in media reports or other blogs and base your decision on that. My take is that the Media is not always plain-white and truthful 100% of the times. Media can be bought over or manipulated by individuals and corporations alike for personal gains. In this 'Infosys moving out' saga, it could be a section of journos trying to create 'negative vibe' about Bangalore (given the tendency of people to like negative/sensational news). Or it could just have been some arm-twisting tactics against the state govt.

Some more entertainment: Regarding my previous fact-check post on the CNN-IBN report, try google search for the Linkedin profile of the journalist Sunanda Jayaseelan (who wrote that piece in IBNLive or CNBC). Note her previous employer/org where she held a marketing role. BOOM

Regards,
Ashwin
awinrao@.com
Disclosure: I hold investments in villas/plots on the main Sarjapur-Attibele road and I have a tendency to be optimistic. The factual references in my posts are by-products of my 'know your seeds before they sprout' research
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Old January 22 2012, 04:59 PM   #4
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Hi ashwin,

Thanks for ur detail reply..Me too own a flat in SARJAPUR -ATTIBELE ROAD ....Even I can strongly tell the area started booming ..Apart from AZIM PREMJI UNIVERSITY AND INFOSYS CAMPUS,SABIC TECHNOLOGY already started it's constuction for R&D centre....Hope rental demand will also increase in future....
 
Old February 21 2012, 01:59 AM   #5
 
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Default Infosys

And for another fact, Infosys which keeps murmuring about creating its largest employee base in Pune is silently acquiring or petitioning the Karnataka State Govt for more lands in Bangalore. Just google to find out about their recent allocation of about 32 acres of land in KIADB IT Park (Aero Park) close to Bangalore International Airport. Assuming Infosys is not a real-estate company (to accumulate land banks), wonder why Infosys is accumulating land? About 360 acres in Sarjapur and 30 Acres in Devanahalli - undeveloped yet. Land Banks for an IT/Software company that doesn't have expansion plans is a non-performing asset, the appreciation in land prices not withstanding. Agreed that land banks add to a company's Book Value (on stock prices), but the investments can still be considered non-performing as long as Infosys sticks to software development. This is particularly true of Sarjapur where they bought a huge 350 acres from open market and not from KIADB/Govt.

Derive your own results

Thanks,
Ashwin
awinrao@.com
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Old February 23 2012, 04:14 PM   #6
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Hi guys

I am planning to invest in shriram smrithi on sarjapur-attibele road....they are quoting 2100 per sft....what do you guys feel abt the pricing for that locality.....and also feedback on the builder if any...

regards
pramod
 
Old February 26 2012, 11:11 AM   #7
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@awinrao
Nice thread with data based views. Thanks for sharing.

@pramodv
I have seen Shriram's property in north bangalore. It is value for money.
Note that the Smrithi project is a low cost project from Shriram and normally these kinds of projects from builders come with one catch or the other.
I would recommend that you visit the site and see for yourself before deciding to invest.
About price, One of my friends booked in Smriti close to year back at 1800 levels.
Not sure about current prices
 
Old February 27 2012, 01:33 AM   #8
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Dear Member's

My first post in this forum ,

Glad to hear Sarjapur area is developing .

During the construction period of Electronic city flyover , Koramangala -Sarjapur -Bagalur was my favorite short cut to reach Hosur and beyond ..

Is there any scope of development in Sarjapur - Bagalur road ? I hope this a part of NH 209

Honorable member , Ashwin had informed in an another forum , that the back side of Infosys campus border's Tamilnadu
 
Old February 28 2012, 03:08 AM   #9
 
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Icon15 Mamata shows true colors to Infosys

Alright guys, West Bengal Chief Mamata Bannerjee has kept up to the predictions in this discussion thread by stating that Infosys will not get SEZ status in her state. Aha, so there goes Infosys's Rajhart dreams down the drain..

Infosys not to get SEZ status: Mamata

Compare this with Sarjapur and Devanahalli where Infosys already has SEZ approval, Industrial conversion approval, KIADB, BWSSB, Pollution Control Board approval!! Just plain tactics people.

Moral of the story: Infosys is the son/daughter of Karnataka and let the truth be dawned upon the teenaged-rambler Infosys that the parent state is home state and there's nothing better than home. This goes synonymous with how parents are arch-rivals of anyone during teenage, but they turn best friends and support system once the teenage troubles are got over with. GROW UP INFOSYS !!
 
Old February 28 2012, 08:00 PM   #10
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Hi Pramod,

Which block are you planning to invest in Shriram Smrithi? They have South and West Block. I recently visited the project site. Their south block construction is completed. They are now laying roads inside the site around South Block. The west block construction is halfway through. They have raised G+4 floors. They have G+7 in west block. I was told the project would be completed in 12 months. I expect it to take 18-24 months max considering the usual 6 month delay most projects suffer. They have a 21 acre site over which they are developing 8 acres. The remaining is for facilities and landscaping

They were quoting 2250 psf for their west block project. Their costs are low because they acquired lands at a very low rate. Also, they dont spend heavily on marketing unlike other developers here. So they can offer the flats at that prices.

The project is quite far off from the city. So it will take atleast 3-4 years for that place to pick up. But there are quite a few layouts on the same road. There is Karnataka telecom society layout opposite the project. There is also BEML Layout and Confident Bellatrix layout. Schools like TISB, Indus and Greenwood Schools are fairly close by road.
 
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