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Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

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Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

Last updated: December 16 2014
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  • #41

    #41

    Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

    Originally posted by SS1983 View Post
    Hi All,

    I recently booked a flat in Shriram Smrithi apartments. This post is basically my assessment of the project and the location based on my site visits.

    Shriram Smrithi is being promoted by Shriram Properties which is part of the Shriram Group Conglomerate. They are developing this project on 21 acres of land in four towers (South, West, Central and North). Totally 1300 apartments with 12 acres of unconstructed space.

    South Block is completed and is ready for possession. It primarily comprises 1 BHK and 2 BHK apartments.

    West Block is under construction. They have completed close to 70% of the construction (Raised G+5 slabs out of a total of 7 floors). I have booked in the west block because they have 3 bhks here.

    Central and North Block construction is yet to begin. I think they have launched bookings for one of the blocks.

    Pros:

    1. They are reputed builders and have a good amount of construction experience. Clear titles and documents. They are going ahead pretty quickly in the West Block construction. I have heard that there were delays in South Block but i am willing to wait given that most developers have upto 6 month delays

    2. They have very competitive rates. They are quoting 2350 psf right now. For that price they are offering a host of facilities. Swimming pool, club house, badminton courts etc. You get to stay in a gated community at a very reasonable price.

    3. The site is right on the SH 37 road which connects Attibele (3.5km) and Sarjapur (4.5km). This stretch is marked for the alignment of 6 lane STRR (But God only knows when that will come). Survey markings have been completed. Place is located at roughly 20 km from e-city, whitefield, sarjapur ORR, Hosur

    4. The area in general is witnessing a lot of residential construction interest. Confident Group has many properties coming up in that area. I have heard good reviews about them as well. There is a BEML layout and a telecom society layout on the same road. MJR group has also ear marked a location on the same road.

    5. Infosys has a huge 300 acre SEZ land bank in that area (within 4 kms). Nothing has happened on it for the last 3 years but I am hopeful of that changing in the future. There is also a SABIC tech center coming up (literally - their construction is in progress).

    6. Three international schools are within 12 kms of the project. TISB, Indus and Greenwood International.


    Cons:

    1. There is no talk of metro coming to that side of the city anytime soon.

    2. Uncertainty around water sources. right now the only source of water is from bore wells. Sarjapur in general is reeling under a water shortage. There are supposedly 2 lakes in the vicinity of the project - Bidaraguppe and another smaller lake. But they were dry when i visited the site in February.

    3. Location is quite far off from the city center and international airport. But i am not really concerned about the airport aspect since I dont expect to fly more than once in few months or so.

    4. At present there are not many commercial establishments in that area. I think they will come up in the next few years when people start staying in the apartments.

    Overall Assessment:

    Given the project location, price, facilities and builder reputation i feel it is a reasonably good investment.




    Hi Guyz,,

    You can also look at Peninsula Pinnacles, 2 kms before shiram smrithi., close to INDUS school...

    They are quoting Rs 1900/- per sq.ft .... and possession is by JUNE 2013 ...

    2 bhk (971 )cost 25 lakhs +Reg

    3 bhk (1397) cost 34 lakhs + Reg ( i booked a 3 bhk in this project)


    Hope this info is useful to the members here.


    Thanks.

    Comment

    • #42

      #42

      Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

      Shriram smrithi

      Originally posted by SS1983 View Post
      I am purchasing a 3-bhk 1525 sqft flat in West Block, the overall charges are approx 46L (including covered car park, bescom, electricity,approx registration, vat and service tax charges).

      You can get a 2-bhk~1200 sqft for anywhere between 33-39 Lac all inclusive depending on the floor size.

      Also, if you want to go with a smaller budget, their South Block which is completed and now in the stage of handing over possession might still have in the 25-30 lac range for 900 sqft.

      The payment terms are standard - 20% at the time of agreement, rest of it is milestone completion of slabs. In the West Block, they have completed close to 65% so they might ask for the proportionate amount if you are booking there.

      In Central Block where construction is yet to start you might have to pay only 20% amount initially and then go with milestones.

      ICICI Bank has approved the entire project, so they process loans very quickly if you have the necessary financial documents.

      If you need any negotiation tips for price negotiation, useful contacts for loans for this particular project, you can drop a private message to me with your e-mail id and number.

      I have booked in West Block. Can u give me your contact details?
      Last edited August 22 2012, 02:30 AM. Reason: sharing personal information not allowed

      Comment

      • #43

        #43

        Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

        Will SBI not approve of the loan??

        Comment

        • #44

          #44

          Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

          I was considering this project very seriously in June and was about to close the deal but then some other priorities came along. SS1983 has done really fantastic review and after reading it i felt my analysis was exact same. I thoroughly checked their construction quality ( spent almost 3 hours just on that) and I can definitely say it is very good. Way too better than Concord Manhattan ( Other project I saw at the same time) at a much cheaper price. Yes it is not fancy but quality is good.

          A broad road goes along the project and I felt it has better prospect than something nearer but deep inside. Amenities are good. Most importantly it felt like a good place to live. Only drawback is the distance which is surely a concern but should not be deal breaker as all the IT hubs are in 17-23 KM range.

          I felt this was a good buy at the price of 2150 ( Around June 12).

          Comment

          • #45

            #45

            Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

            antger - Congrats on the booking, I will call you some time

            atipra - SBI will approve the loan. I generally dont recommend public banks. They are slow

            bluenerve - I too liked the location and the place. They are progressing quite nicely.

            Also, another development. Surya Nagar Phase 3, land of 900 acres is coming on the NH7 , 3kms before Attibele circle. This will be around 6 kms from Smrithi.

            Comment

            • #46

              #46

              Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

              Still good for Investment

              Hi,
              I just looked at this thread.
              Is this project still good for investment or I missed their prelaunch offer.
              For appreciation time 4-5 years.
              What are the current rates they are offering.

              pl advice..

              Comment

              • #47

                #47

                Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

                I recently booked a flat in west block, what is the strr road that is talked about, what places is it linking, not sure how good this investment will be , but lets see, i had also bought a plot at prasanthi nilayam near jigani circle, so far so good with that.

                Comment

                • #48

                  #48

                  Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

                  Shriram smriti

                  HI Members who has already booked in Shriram smirti. I need some clarification.
                  I booked in Central block on July end in.
                  They gave cost break up part payment shedule along with the VAT and service Tax.
                  They havent mentioned the VAT and service tax % any where.
                  Now when they send the demand letter for 20% payment from buyer side . i received an amount of 7K higher than wht they mentioned in part payment shedule sheet.
                  When i called and checkeed with then they are saying its government rule.
                  what ever they are charging we wil lieve from you sir.
                  Govt has increased the VAT and service Tax after i booked that is why the difference you see.
                  I booked on July 23, 2012.received 20% buyer side payment demand notice on Aug 4th 2012. How can there be increase in Tax in this short span.
                  Is there really increase in tax is wht i want to know.if that is the case then all the buyer should be facing the same issue all the builders..
                  Is it so. Sr members Kindly provide me details..
                  Wht shd i ask for cross verify.

                  Thanks.

                  Comment

                  • #49

                    #49

                    Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

                    this shoots up the project value to 50K higher..

                    Comment

                    • #50

                      #50

                      Re : Shriram Smrithi, Shriram Properties, Sarjapur, East Bangalore

                      Originally posted by rajbang View Post
                      HI Members who has already booked in Shriram smirti. I need some clarification.
                      I booked in Central block on July end in.
                      They gave cost break up part payment shedule along with the VAT and service Tax.
                      They havent mentioned the VAT and service tax % any where.
                      Now when they send the demand letter for 20% payment from buyer side . i received an amount of 7K higher than wht they mentioned in part payment shedule sheet.
                      When i called and checkeed with then they are saying its government rule.
                      what ever they are charging we wil lieve from you sir.
                      Govt has increased the VAT and service Tax after i booked that is why the difference you see.
                      I booked on July 23, 2012.received 20% buyer side payment demand notice on Aug 4th 2012. How can there be increase in Tax in this short span.
                      Is there really increase in tax is wht i want to know.if that is the case then all the buyer should be facing the same issue all the builders..
                      Is it so. Sr members Kindly provide me details..
                      Wht shd i ask for cross verify.

                      Thanks.
                      Hi,

                      If they have mentioned the VAT and Service Tax amount in your cost schedule, it should be as per the same. There was an increase in service tax but i think that should be in the cost schedule.

                      Comment

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