Announcement

Collapse
No announcement yet.

Is apartment in electronic city a good buy

Collapse
X
Collapse

Is apartment in electronic city a good buy

Last updated: December 12 2013
41 | Posts
25014 | Views
  • Time
  • Show
Clear All
new posts

  • Is apartment in electronic city a good buy

    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
  • #2

    #2

    Re : Is apartment in electronic city a good buy

    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.

    Comment

    • #3

      #3

      Re : Is apartment in electronic city a good buy

      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.

      Comment

      • #4

        #4

        Re : Is apartment in electronic city a good buy

        Originally posted by springfield9 View Post
        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.

        Comment

        • #5

          #5

          Re : Is apartment in electronic city a good buy

          Originally posted by Praveen85 View Post
          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?

          Comment

          • #6

            #6

            Re : Is apartment in electronic city a good buy

            Originally posted by Praveen85 View Post
            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.

            Comment

            • #7

              #7

              Re : Is apartment in electronic city a good buy

              no new office space

              Originally posted by Praveen85 View Post
              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...

              Comment

              • #8

                #8

                Re : Is apartment in electronic city a good buy

                Originally posted by vkbans View Post
                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 ...........

                Comment

                • #9

                  #9

                  Re : Is apartment in electronic city a good buy

                  Originally posted by sarkarsk View Post
                  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

                  Comment

                  • #10

                    #10

                    Re : Is apartment in electronic city a good buy

                    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.

                    Comment

                    Have any questions or thoughts about this?
                    Working...
                    X