Glad that I am starting this thread with an email input I am having.

PURAVANKARA is about to launch some major projects on the Kanakapura road stretch at prominent access locations. As per the email I received from them, this is an 80 acres of development which is a mix of Apartments, Row Houses and Villa Plots.

I believe that an internal marketing is happening within the interested people from their customer portfolio.
Hoping to share more information's on this as and when I have the same.


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  • Please i need more info on this.
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  • I believe that they are going to have infos available by 3rd week of February. Another project on the lines on Kanakapura road.
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  • The available details of the expected project by PURAVANKARA.

    KANAKAPURA ROAD PROJECT


    75 Acres development
    Apartments & Row Houses

    Apartments
    10 acres
    2 BHK (1000-1200 sft.)
    3 BHK (1500-1800 sft.)
    Prelaunch Price
    Rs.4500 to Rs.4700 per sft.


    Row Houses
    20 acres
    300 Houses
    Area: 2100-2600 sft.
    4 BHK- (Rs.1.5 to 1.6 Crs.)
    5 BHK- (Rs.1.8 to 1.9 Crs.)


    =====================================

    J.P NAGAR Project

    2 Acres development
    Apartments & Villas

    Apartments
    3 BHK 2000 sft.
    4 BHK 2400 sft.
    Prelaunch Price
    Rs.8200 to Rs.8500 per sft


    Villas
    8 villas
    3 floors
    Area: 6042 to 6915 sft.
    Price: 5-6 crs


    =====================================
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  • I had a visit of the location of the J.P Nagar project. The call back response was instant when i expressed my interest in the link of this post. I really had to appreciate Puravankaras promptness on this. A community like this at this location is something I will say real good planning.
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  • Any update on Puravankara ,Kanakapura Road?
    Have they launched the project? Please explain in details, the pros and cons.
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  • Puravankara kanakapura road

    Experts,

    pls do send the pros & cons of this project which is exactly on the kanapura road and just 1 Kms from Metro Junction.

    Earlier some industries was there and not puravankara has taken over.
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  • realbyr;

    Did they refund you for not finishing the kitchen? If not, then its pure profit making tactics. Building a kitchen will cost them a good deal of money for labour, time and even raw materials. All cost money.

    Also this is the reason why I'm so weary of flats. Apart from the fact that things like these happen. These people cut a lot of corners to save money. As long as the building doesn't collapse they are fine. But other stuff, start from paint to quality of door to fittings to nearly everything is mass procured to save money.
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  • I am real estate investor and I would like to provide review on one of the bad investment that I did 4+ years back. In early 2014, I got invite to attend pre-launch of one of the projects of Puravankara, named “Purva Plam Beach”. I was impressed by its theme based concept, hence in pre-launch offer I booked a flat there as an investment. However when I look back, I consider this is bad investment, not because of project, but because how builder and its staff mislead and drove loss to me. Here are my few highlighted points that should how this builder takes investors for granted who like to invest in early phase of the project.

    · Dead capital for long time:

    During booking, it was told that project shall be completed within 3 years. However in agreement they mentioned 3 years period starts from date of commencement certificate (CC). For applying CC document, they delayed for more than 1 year. Once CC was available, they started demanding payment very frequently, some two slabs payment within one week. Look at below graph it clearly shows that there is sudden spike in payment (X axis is time scale and Y axis is payment percentage).





    CC Date

    D day



    Promised

    D day



    Hiding Payment Request Pace:

    The builder and his team hid that they will be asking for payment so frequently. As you can see that within one year’s time I have paid more that 50% of my flat’s cost (a steep slant line starting from Nov 15 till Sept 16). During booking they only mentioned that payment shall be slab wise and it is in that range of 2% to 2.5%, but never mentioned that payment needs to be so quick in succession.

    Large delay post all slabs completion:

    By completion of all the slabs, they took more than 94% of agreement money (sale as well as construction agreement value). Post that project started going at snail’s pace. As mentioned above they were supposed to give possession this September, however they want to utilize even grace period so as of now they want to give in March 2019. Going by this date you can see that my capital is completely stuck as dead investment for more than 2.5 years.

    Raw deal for early investors:

    As I mentioned that I am part of early investor, post 8+ months of my booking I learned that phase 2 was launched in the name of “Waves”. For phase 2 they said 48 months after CC as possession date. However now they are saying that for both phase 1 and phase 2 they will give in March 2019. That means early investors like me are unfairly delayed whereas late investors are getting better deal. So friends never be early investor with this builder (if at all you want to invest with this builder).

    There are multiple other issues like their pathetic CRM team and other team, however I don’t want to waste in writing about below par services by their team. Hope this review helps you in understanding as how this builder takes investor and may be end user for ride.
    Photos:
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    2 Comments
    • MANOJa1 years ago
      Has been temporarily banned for making mutiple Duplicate threads.