I m considering buying a property in electronic city phase 1. There are good projects like neotown, requizza,concorde,ajmera,elena, godrej,shriram etc. I work in electronic city so i find it attractive to invest. My friends however are against it. They say it is a remote area. I find the following pros and cons but i m unable to decide

Pros

1. Connectivity - elevated road. 15min, you would be at silkboard jn if you board a 356CW
2. being an IT hub, i guess metro phase 2 would definitely connect it
3. Access to Nice road.
4. 1.5lac working population. As per my guess it wouldnt be hard to find tenants
5. Hiranandani Mall, Neo Mall are coming up.

Cons
1. considered remote to the city.
2. with so many projects coming and slated to come up and complete construction by 2015/16 will there be a takers for rent.
3.Will BBMP ever acquire this area, as Ecity is industrial area. They take care of the infrastructure where the offices are present but dont bother about the neighouring villages.
4. I have heard that there is no new office space coming up at E city except the Neotown SEZ. Is it true

I am not able to take decision whether i should buy one here. Any help will be appreciated
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  • All your points in the favor of ECITY is very valid.

    I see the only reason why ECity is undervalued, despite being closer to workplaces for lacs of people, is that it doesn't have any social infrastructure. Part of the blame goes to govt as well as the companies over there.

    Due to some archaic industrial law under which Ecity, being the oldest industrial area, is governed, it wasn't permitting any commercial activity within ecity - not even private mult-tenant SEZs for a very long time. Whereas whitefield, being the new industrial area, was never under such constraint.

    However, things are changing for good. Some relaxation has come into play because of which we have seen private IT STPs/SEZs being built inside it so also hotels and commercial complexes.

    With Hiranandani/Neomall coming, people don't have to travel as far as Koramangala do shopping in a top retail store or to watch a movie in a multiplex.

    Given that so many residential projects are being launched in places far beyond ecity, ecity will ultimately become central hub in few years.

    Another thing is that Ecity is suffering is for its past records - it had its bad reputation for not having good connectivity, bad roads, clogged traffic etc., etc., All these things are behind its present form now. As far as connectivity is concerned - it has the best connectivity now to all parts of city including BIAL via volvo buses. Elevated roadway is also helping. Nice corridor is next door.

    It's just a matter of time when few more big GRADE A builders come and launch BIG projects over there - I know Prestige has big land banks in ecity.
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  • Keeping all aspects in mind I found Shriram project is the best bet. Given that it is bang opposite to Wipro and near to Volvo bus depot. And also sitting next to big BIO park waiting to come up.

    However, price seems to be slightly on higher side and availability is doubtful.

    Disclaimer: I don't have any investment in Shriram.
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  • Originally Posted by springfield9
    All your points in the favor of ECITY is very valid.

    I see the only reason why ECity is undervalued, despite being closer to workplaces for lacs of people, is that it doesn't have any social infrastructure. Part of the blame goes to govt as well as the companies over there.

    Due to some archaic industrial law under which Ecity, being the oldest industrial area, is governed, it wasn't permitting any commercial activity within ecity - not even private mult-tenant SEZs for a very long time. Whereas whitefield, being the new industrial area, was never under such constraint.

    However, things are changing for good. Some relaxation has come into play because of which we have seen private IT STPs/SEZs being built inside it so also hotels and commercial complexes.

    With Hiranandani/Neomall coming, people don't have to travel as far as Koramangala do shopping in a top retail store or to watch a movie in a multiplex.

    Given that so many residential projects are being launched in places far beyond ecity, ecity will ultimately become central hub in few years.

    Another thing is that Ecity is suffering is for its past records - it had its bad reputation for not having good connectivity, bad roads, clogged traffic etc., etc., All these things are behind its present form now. As far as connectivity is concerned - it has the best connectivity now to all parts of city including BIAL via volvo buses. Elevated roadway is also helping. Nice corridor is next door.

    It's just a matter of time when few more big GRADE A builders come and launch BIG projects over there - I know Prestige has big land banks in ecity.



    Thanks for putting across your views.

    Also an additional point

    I heard some EC companies depend on tankers for water supply. Is water table that bad in EC. One of my friend argues that if there are so many apartments coming up in such a small parcel of land there will be lot of water woes in future.


    No news of Bio park after the govt stuck the deal in 2011.
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  • Originally Posted by Praveen85
    I m considering buying a property in electronic city phase 1. There are good projects like neotown, requizza,concorde,ajmera,elena, godrej,shriram etc. I work in electronic city so i find it attractive to invest. My friends however are against it. They say it is a remote area. I find the following pros and cons but i m unable to decide

    Pros

    1. Connectivity - elevated road. 15min, you would be at silkboard jn if you board a 356CW
    2. being an IT hub, i guess metro phase 2 would definitely connect it
    3. Access to Nice road.
    4. 1.5lac working population. As per my guess it wouldnt be hard to find tenants
    5. Hiranandani Mall, Neo Mall are coming up.

    Cons
    1. considered remote to the city.
    2. with so many projects coming and slated to come up and complete construction by 2015/16 will there be a takers for rent.
    3.Will BBMP ever acquire this area, as Ecity is industrial area. They take care of the infrastructure where the offices are present but dont bother about the neighouring villages.
    4. I have heard that there is no new office space coming up at E city except the Neotown SEZ. Is it true

    I am not able to take decision whether i should buy one here. Any help will be appreciated



    Any more ideas or feedback?
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  • Originally Posted by Praveen85
    Thanks for putting across your views.

    Also an additional point

    I heard some EC companies depend on tankers for water supply. Is water table that bad in EC. One of my friend argues that if there are so many apartments coming up in such a small parcel of land there will be lot of water woes in future.


    No news of Bio park after the govt stuck the deal in 2011.


    Real estate investment is for long term. If there is a 40 acre land next to your property designated as BIO park means it will come some day. It's just a matter of time.

    About tanker water, entire whitefield depends on tanker water. So also ORR, Sarjapur Rd, Marathalli - I think almost all new areas of Bangalore depend on tanker water. This is the reality in Bangalore. We are not able to get very basic amenities like potable water, motorable/pedestrian friendly roads etc., However, we still have to take our decisions despite all this problems else option is to live in areas where we only get water and nothing else - no IT parks, no multiplexes, no shopping etc., we have to choose & weigh our options based on our priorities.

    ECity is slightly better in terms of greenery, there is hardly any greenery in white field area, if you know.
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  • no new office space

    Originally Posted by Praveen85

    Cons
    4. I have heard that there is no new office space coming up at E city except the Neotown SEZ. Is it true

    I am not able to take decision whether i should buy one here. Any help will be appreciated


    any feedback on above point...it is very important for future growth of the area...most of the new companies are coming in north now days as far as I know...

    please share your knowledge on above point...
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  • Originally Posted by vkbans
    any feedback on above point...it is very important for future growth of the area...most of the new companies are coming in north now days as far as I know...

    please share your knowledge on above point...


    there are lot of new office buildings coming up in EC PH1 and 2, I don't know if they are going to be occupied ever ...........
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  • Originally Posted by sarkarsk
    there are lot of new office buildings coming up in EC PH1 and 2, I don't know if they are going to be occupied ever ...........



    What are new office buildings that are coming up... and why do you think they may not be occupied
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  • not 100% sure but I think Neotown and hiranandani Ashford complex have commercial/office space.

    If launch of residential projects can be considered as a trailing indicator ( Ecity seems to have projects from ~30 lakhs to upto 1.5 Cr ( unitech , cuppertino etc ) ) then Ecity seems like an upcoming area.
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  • Hiranandani Ashford project closed down?

    Originally Posted by Praveen85
    Thanks for putting across your views.

    Also an additional point

    I heard some EC companies depend on tankers for water supply. Is water table that bad in EC. One of my friend argues that if there are so many apartments coming up in such a small parcel of land there will be lot of water woes in future.


    No news of Bio park after the govt stuck the deal in 2011.



    Is Hiranandani Ashford really going to come up? The last i heard this project has reached a dead end of sorts due to some legal matter, and the project has stopped completely.
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  • @Praveen85. Not sure if you have already decided. I missed this post earlier. Yes definitely Ecity hold lot of promise with more than 34% of IT revenues generated here and also employing equal share. Look at good brands like Prestige casa bella , Hiranandini , Godrej, Ajemra etc. I feel Godrej ecity is best located within 1.5kms of Infosys campus and around 1.2 kms from Hotel Crown Plaza
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  • Regarding office spaces in ecity, i havent seen any unoccupied building for long...

    Newly launched Equinox building opposite to Velankani tech park in phase 1 is occupied by HCL Technologies...

    JP IT park 1 & 2 in ecity 1st pase phase occupied by Infosys for one of their top client....

    Brand new office is getting ready from Equinox just opposite to Siemens campus in phase 1

    Heard that Happiest Minds have taken a new office in Ecity phase 1 and expanding here...

    There is a 10+ story building is getting ready opposite to TCS campus in Phase 2 and kept a board who is going going to occupy that....

    This is in addition to 2 lakh it guys who already working in Ecity....

    Consider the top class hotels available inside Ecity.... And another 3 hotels are under construction....

    Hotel Crowne Plazae 5 star
    Lemon Tree hotels
    Radha Regent
    Lord Plaza
    Ecity inn
    Svenska Design Hotels
    Hotel Mayflower Pack
    Oyster Inn

    Just including the Top premiere Business schools and other Education institutions just inside ecity

    IFIM Business School
    IIPM Bangalore
    ISBR Business School
    XIME Business School
    Symbiosys (SIBM) Business School
    Welingkar Institute Of Management.
    IIIT
    NTTF
    CDAC
    PESIT (1KM from Ecity Phase 1 entrance)
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  • I am seeing few almost completed apartments opposite side of Ajmera, Neeladri, further down from Wipro gate. All are around 4 floors with some 20 apartments each. Some of the constructions seems to be good. Price quoted is around 3100/sft Are these good investments?
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  • Originally Posted by exljp1
    I am seeing few almost completed apartments opposite side of Ajmera, Neeladri, further down from Wipro gate. All are around 4 floors with some 20 apartments each. Some of the constructions seems to be good. Price quoted is around 3100/sft Are these good investments?


    Mahendar elena, aratt requiza etc are available in the same range + or - with all amenities G+7 G+10 etc with good construction quality then why you need go with smaller apartments + unknownbrands ?
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  • Originally Posted by mmenon30
    Mahendar elena, aratt requiza etc are available in the same range + or - with all amenities G+7 G+10 etc with good construction quality then why you need go with smaller apartments + unknownbrands ?


    Looking for something which is ready to move in and the budget is limited 30 lakhs
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