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Old May 1 2008, 03:35 AM   #1
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Default Plot in Ramanashree California Gardens - Yelahanka

First of all, thanks to the Administrators for such a nice forum. I am learing a lot about real estate in India, and Bangalore in particular, from all the experts.

I have been in touch with some brokers on a few plots in Ramanashree California Gardens in Yelahanka. I am surprised to see the variation in price being quoted by different plot owners. I see some asking over Rs.2500 per sq. ft and most asking about Rs.1600 to 1700 per sq. ft. This layout seems better than the adjacent BDA Duo Marvel or Vinayaka layouts where they are asking Rs.2500 per sq. ft. I am wondering why the plots in Ramanashree are selling at a lower price than Duo Marvel or other adjacent layouts. Why is Ramanashree not catching up on price with other layouts in the proximity? Not that I want to pay more, but I want to make sure that there are no legal issues, the documents are clear and the amenities are provided as promised. The broker thinks we can get it down below Rs.1500 per sq. ft which seems too good to be true given the prices around this area.

Anybody out there who knows about this area and the layout, could you please advise? Appreciate your help.

-TN

 
Old May 3 2008, 01:58 AM   #2
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Cool Dont be Surprise ?

Dont be surprise if you land up paying a huge amount for the land by seeing the name of the Layout. Ramanashree California Gardens does not mean that you will feel to be at California. It is the trick for the developer to make fool the NRI's (The Biggest Culprit for Indian Real Estate Market). You can see lots of Englished fashion's name in this area...

Hope you dont get misguided by this Broker/Agent.
 
Old May 5 2008, 11:24 AM   #3
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Thanks, Arin. I have visited the site before and I know what how it looks, but am not sure about the rest. I will appreciate if anybody else could comment, Please provde your comments/feedback as soon as you can.
 
Old May 10 2008, 08:10 PM   #4
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Default Ramanashree California Gardens

Yeah PTNaidu, even i had the same doubts about the Ramanashree California Gardens plots. I did an extensive research. I spoke to a lot of brokers. I spoke to the owners of the Ramanashree group directly. And thats when i became convinced of the authenticity of this project.
The reasons why the rates are so low here is this - most of the plots here are still owned by NRIs. These plots were sold only to NRIs around 15 years back. Can you believe it - these plots were sold at 50-100 Rs/sq ft !! But way back then, Yelahanka was totally a wilderness.

A lot of these NRIs havent even visited India since then. So when they sell the land at 1500 Rs sq/ft, they think they are selling it at a super premium for themselves. But they probably do not know the real rates here. And some of these lands have changed hands over the years and are owned by locals. It is these locals who charging the higher rates ( above 2000 Rs sq / ft ). Bcos they have a better idea of the rates.
Thats why the variation in the rates.

Also you must understand that these lands are quite large. So very few ppl can afford those high amounts.

But things are changing now there - some houses have been built. One of the house there is being sold at 2.5 Crores already !! There are ppl who have said this layout will become the next Dollars Colony of bangalore !
So go ahead and invest here before it becomes un-affordable.

I would suggest you talk to the owners of the Ramanashree Group first. They can let you know the authenticity of a site and the person mediating the deal.
There are some real big projects coming up on the Doddaballapur Road. Do you know Prestige ppl are selling villas 6-7 kms ahead of Ramanashree for 2 Crores plus ! So you know how much the Ramanashree layout will appreciate.

Let me know if you need any info. I can understand your doubts when you are planning to invest sucha huge amount. Infact i have been advising a lot of ppl to invest in this layout.
 
Old May 12 2008, 06:07 PM   #5
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Question Beware of this living_it_up

Hi Mr Naidu. Beware of this Person living_it_up . He/She is a agent of Real Estate Developer who will always try to sell the property. As I can see he is from a Black listed property developer. Be carefull there is lots of agent/broker is around the forum.
And I think he has some Sites on this Area. And as per me you can not build or stay in this area for another 5-10 yrs. This area is not at all developed Even you may not have Telephone/Internet Connection in this Area.
After that Its all your Wish your money.
 
Old May 13 2008, 12:52 AM   #6
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Quote:
Originally Posted by arin_12 View Post
Hi Mr Naidu. Beware of this Person living_it_up . He/She is a agent of Real Estate Developer who will always try to sell the property. As I can see he is from a Black listed property developer. Be carefull there is lots of agent/broker is around the forum.
And I think he has some Sites on this Area. And as per me you can not build or stay in this area for another 5-10 yrs. This area is not at all developed Even you may not have Telephone/Internet Connection in this Area.
After that Its all your Wish your money.
arin_12, thanks for your concern. Not sure why you say it would be another 5-10 years before one could stay in this area. Have you visited this area, and this layout in particular? It would be great if your feedback is based on your visit to this layout/area. I heard this layout is within the corporation limits, why do you say one can not get telephone/internet connection? Not that I am deciding to invest, but I got an impression from my last visit that there are quite a few homes including Prestige Monte Carlo in this area.

Which part of Bangalore are you from? Which area do you recommend investing around Bangalore? I will also appreciate if you could back up your recommendation with some data -- growth prospects, schools, IT, accessibility to other parts of town, pollution etc. I am looking to invest in a gated layout with bigger plots (4000 sq ft and above)
 
Old May 13 2008, 04:03 AM   #7
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Quote:
Originally Posted by living_it_up View Post
Yeah PTNaidu, even i had the same doubts about the Ramanashree California Gardens plots. I did an extensive research. I spoke to a lot of brokers. I spoke to the owners of the Ramanashree group directly. And thats when i became convinced of the authenticity of this project.
The reasons why the rates are so low here is this - most of the plots here are still owned by NRIs. These plots were sold only to NRIs around 15 years back. Can you believe it - these plots were sold at 50-100 Rs/sq ft !! But way back then, Yelahanka was totally a wilderness.

A lot of these NRIs havent even visited India since then. So when they sell the land at 1500 Rs sq/ft, they think they are selling it at a super premium for themselves. But they probably do not know the real rates here. And some of these lands have changed hands over the years and are owned by locals. It is these locals who charging the higher rates ( above 2000 Rs sq / ft ). Bcos they have a better idea of the rates.
Thats why the variation in the rates.

Also you must understand that these lands are quite large. So very few ppl can afford those high amounts.

But things are changing now there - some houses have been built. One of the house there is being sold at 2.5 Crores already !! There are ppl who have said this layout will become the next Dollars Colony of bangalore !
So go ahead and invest here before it becomes un-affordable.

I would suggest you talk to the owners of the Ramanashree Group first. They can let you know the authenticity of a site and the person mediating the deal.
There are some real big projects coming up on the Doddaballapur Road. Do you know Prestige ppl are selling villas 6-7 kms ahead of Ramanashree for 2 Crores plus ! So you know how much the Ramanashree layout will appreciate.

Let me know if you need any info. I can understand your doubts when you are planning to invest sucha huge amount. Infact i have been advising a lot of ppl to invest in this layout.
living_it_up,

Thanks for your response to my concerns. This is exactly what I hear from people I have spoken so far, including brokers. Could you please confirm that you are not another broker, and do not have any vested interest in promoting this layout? Do you really own or trying to sell any plots in this layout? You sound like you are familiar with this area, could you please share with me the long term (3 to 4 years) growth prospects of this layout? Can you also tell me about all the good schools in this area? Why are IT companies not starting to move to North Bangalore? IT seems to be very concerntrated around white field, sarjapur road, electronics city and Bannerghatta road.. Besides airport, I don't see any other major industries starting up in North Bangalore. I appreciate all the information you could provide. Thanks once again.
 
Old May 13 2008, 03:03 PM   #8
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Hi PTNaidu,

Hmmm ... yeah may be my last message seemed like quite a hard sell. So let me assure you - I am NOT a broker. ALso yes, I am in the process of buying a site here. But i am not a business man. I am not in the business of making money through real estate.
I am also investing my hard earned money in this layout. Hoping to build my own house some day here. So if you think I have a vested interest in promoting this layout - yes I have a vested interest, but not for a commercial purpose, but to see that decent people come and live in this layout.
See, i went to this layout recently. Already 3 houses are complete and one more is near completion. One house has also had a gruhapravesh recently.
One year back, when i was enquiring about this layout, people hardly knew about this place. One year later, lots of people are suddenly talking about this layout. I have seen ads on all the major property websites. Some people have already started quoting double the rates that were being quoted last year. A lot of brokers ahve been calling me up.

When I was planning to buy a site here, i was more concerned that how soon can i shift here. How soon will other people start building houses. Because most site owners were NRIs and living abroad, I thought I will have to wait for atleat 5-6 years more to shift here. But now I think in the next 2-3 years, there should be enough houses for me to start my own construction.

Plus there was the added attraction of an attached club / resort. Which is quite impossible to find now a days . THe other being Prestige North West county and Angsana Resorts , but thats 9 kms ahead.

About the Ramanashree layout specifically, i know that its not a BDA approved layout.
But apparently thats not a very major issue now since it comes under the BBMP limits. As far as i know there are absolutely no issues in getting a telephone connection, water, electricity etc as Arin says.
And nothing is always perfect. So maybe once we shift we will get to know some other drawbacks. But thats the case with every place i think. So we will have to be a bit fexible.

But if you have doubts about this layout, please confirm with other people too before investing.

From what I have enquired about the Doddaballapur Road stretch, I know that by 2010 - 2011, a lot of residential projects will get completed ( Nagarjuna, BCIL, Prestige, Unitech, Sobha etc etc ). . And most of these are up-scale projects. There are already a number of other residential layouts on this stretch ( Aakruthi, Sai Brindavan, ISRO etc ). Behind Ramanashree itself there is a big Duo Marvel layout and a Green's Square apartment complex coming up. So there is a lot of activity happening around here already.
About the good schools - Aditi International, DPS, Vidya Shilp, Nagarjuna etc are pretty much close by.

Yes, about the IT industry - its still concentrated around Sarjapur, Whitefield stretch. So far no big company has shifted to Bangalore North though I have been hearing about of lots of planned development here - like one of the largest malls in South India is coming up at the entrance to Yelahanka, a 40 acre SEZ is being planned in Yelahanka ( http://www.business-standard.com/com...N&autono=30500 ) etc. This is apart from the numerous SEZs, Townships, 5 star hotels being planned on the Yelahanka Devenahalli stretch. http://bangalorebuzz.blogspot.com/20...lores-cap.html
Why dont you do a google and see these news reports.
But you are right, nothing has shifted here so far. But then thats the catch here right - now the land rate is low because no significant developments has happened so far. But if you believe this area will develop significantly in the future, this is the right time to invest. But if you want to wait for proof that development is happening, then the land rates would have risen quite a bit by then. So you have to take a call based on what you think is the right moment to invest.

I have some links to reports on the planned development in Bangalore North.
 
Old May 20 2008, 12:10 PM   #9
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arin_12,

I don't mean to put you on the spot or anything, I am just trying to gather as much infomation as I can. I have read some of your posts, and you seem like a knowledgable guy. So please respond to my questions above when you get a chance. Thanks.
 
Old May 21 2008, 01:34 AM   #10
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Why I told you is that Every where all the broker does the same thing. If some good development is happen or going to happen in another 10 yrs they wannna show you the day dream. And every now and then they wanna a price hike. As per my knowledge Bangalore prices are falling still will continue.
Recently I visited those area Still I could not find that those places are livable.
living_it_up -- This person was from city square. as his profile said. But recently he changed/ommited.
Just beware of this Agent.
 
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