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.
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  • Is there anybody already staying in Shriram Smrithi? Are there any CBSE schools around whose buses come to this apartments?
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  • can someone also tell me if they will provide A-Katha for individual flats? not just the land, but for every flat... i guess this is important for resale purpose...
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  • They provide Panchayat Khata (Town Khata) to be precise. I may be wrong, other owners, please confirm
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  • yes its still not under BBMP, you will get grampanchayat khata
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  • what is this grampanchayat khata? is this something to worry about? i mean is it valid for resale? i hope this is A-khata equivalent.. its not something like B-khata rgt?
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  • why panchayat khata? There should be BMRDA approval in that area.
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  • Even though BMRDA approves the project, The katha document will be issued by the revenue/land records office present in that locality.

    The registeration will happen in Atibele/Sarjapur revenue offices which is still not under BBMP.

    And their is nothing to worry about it, its legally binding.
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  • thank you
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  • yes the quality will be good, They are planning to get MFAR constructions for the upcoming project in jalahalli
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  • The area around sarjapur village area is hyped and prices of plots/villas are outrageous.
    When compared with the hosur road,

    1. The road after wipro corporate office to Sarjapur village is narrow to handle the expected traffic whereas the existing hosur road(NH) itself can handle the traffic expected in comming years. The road connecting ITPL( thru dommasandra) is very narrow where two vehicles passing side by side is difficult

    2. Except few apparment projects from B-grade builders there are no good residential complexes or expected to come where as around electronic city there and hundreds of projects

    3. No malls or shops to cater to basic neccissities in the vicinity you have to travel 13 kms to total mall to get one where has hosur road you can find shops all along after electronic city till attibele if not big malls

    4. Finally the infosys campus based on which the our developer goons are using to hype the area. Nobody even the Infy management could have idea on when the campus will come up. Considering the infosys position in current market conditions and inept, dumb govenments that is expected to come no idea whether it will see daylight

    5. Ths STRR another hyping point. when we see existing road widening itself facing hurdles, litigations, court stays running for years you can imagine the fate of new land acquistons that too for the entire lenght of
    STRR. Pls note that the government order was passed in 2006, still not a single of inch of road work has started

    So layouts along hosur road is always better compared to ORR-Sarjapur village strectch or Sarjapur- Attibele stretch
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  • Updates from the project

    They have a functioning departmental store now as well.

    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=19269

    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=19270

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    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=19275
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  • i have a very basic question which is been nagging me for long. I have booked a 2bhk in central block. I didnt do any legal verification for central block. But my friends got it done for west block.

    My question is, i heard Shriram had gone for Canara bank loan for this project. If that is the case what did they mortgage against this? If this property is under mortgage, then how can we get the full ownership??

    Please kindly clarify :(
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  • I am not sure what your worry is. There are 130 families staying in South Block already, i dont think it would be possible without handing over the flats and registering
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  • We have an apartment in South Block. Registration was at the Sub-registrar office near to Narayana Hrudayalaya (comes under APA). Handing over was done once they realize the final amount. But I am not sure when we will get the Khatta. I think it is called a Gram Panchayat Khatta or something like that.
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  • plz. email me , sir

    plz. email me , sir
    Originally Posted by SS1983
    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.
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