Wide Array of Options for Affordable Residential Property in Electronic City

The IT Hub of the city Bangalore offers residential projects to not just working people but also to families at prices which are affordable than other areas of the city where tech parks are situated such as Whitefield and Manyata Tech Park. 

Upendra Manchappa, a property consultant for Vasathi Consultants Pvt Ltd Sales mentions, “We cannot categorize all IT professionals as high-end buyers. A locality such as Whitefield has a higher number of expats and NRIs; therefore, the numbers of high-end projects coming up are far more. Localities around Manyata Tech Park are still considered as developing areas with less greenery. As compared to these, Electronic City is better developed and planned with a wide segment of mid-level IT professionals. In today’s market scenario, even mid-level IT professionals opt for affordable properties. All these factors have pushed demand for the Rs 40 lakh segment in this micro-market.”

Many residential projects are at various stages of development in the stretch between Neeladri Road and Thogur in addition to Jigani road and other nearby areas.

New residential developments:

Many property developers are offering 2, 3 and 4BHK units as well as villas and luxury high-risers which are commonly found in this area. The square feet of the villas are mostly 3000 square feet onwards. The projects which are being developed in Electronic City are offering state-of-the-art facilities and amenities and 24/7 security to woo the potential home-buyers. 

Connectivity:

With Bangalore traffic at an all-time high and the air filled with pollution, many employees are looking for homes close to their work spaces as they try to avoid traveling in their self-owned automobiles. And this is where Electronic City is to its advantage, as residing in Electronic City, it is easily commutable to other parts of the city as well as to all the major public transport terminals in the city with its fantastic public transport services that ply frequently to the rest of the city.

Electronic City, being one of the earliest IT hubs, with several major Indian MNCs having their corporate offices, has been the constant focus of infrastructure development. Issues like bad roads, electricity and lack of basic infrastructure get addressed faster in Electronic City. Thus, today it houses the best educational institutions, medical facilities, markets and malls, making travel outside for the residents extremely need to be based.

Posh areas in Bangalore for Residential Housing

Bangalore being the silicon valley of India has always been proud of its diversity with many Indians from all across India and all over the world coming to the garden city to earn an honest living and experience the culture the city has to offer. With its fast advancement in infrastructure and technology, Bangalore has slowly become a super city in itself. There are certain parts of the city which cater to the working professionals and certain parts of the city which still has the quaint, rustic old part of Bangalore which is what makes the city of Bangalore a great place to reside in. From braving the hustle and bustle of the traffic in the city to enjoying the calmness and greenery in other parts is truly what the city of Bangalore is.

The land rates in the city have dramatically increased over the years due to its rapid development and there are certain posh residential areas in Bangalore city where only the affluent generally reside. Those areas in Bangalore are Rajajinagar, Malleshwaram, Richmond Town, Benson Town, Ulsoor, Basavangudi, Koramangala, Indira Nagar, Cooke Town and RMV Extension where the land rates are higher than other parts of the city where the average rate for square feet would be from 9000 rupees to about 12,000 rupees.

Even though Bangalore has advanced rapidly there are still few quaint localities which are family friendly as they are close to commute to places like schools, hospitals, hotels, malls and holy institutions. Places in the city such as Malleshwaram, Indira Nagar, Bannerghatta Road, Jayanagar, JP Nagar, Banashankari, Rajajinaragr, Vijaynagar, HBR Layout, Kalyan Nagar, Fraser Town, Bommanahalli, Ulsoor, Basavanagudi are some of the places where there is also frequent transport services plying so you can get to your work or any other occasion.

Even though Bangalore has an umpteen number of Technology Park’s there are still a few sight-seeing locations in the city which capture the essence of old Bangalore. Places like the Bangalore Palace, Lalbagh, Iskcon temple and Bannerghatta National Park are few of the iconic locations present in the city. So there is something to offer for tourists. The best places in the Bangalore for tourists to stay in would be in areas like MG road, Koramangala, Indira Nagar as these locations are at the heart of Bangalore city.

One of the oldest and costliest areas in Bangalore to reside in is Sadashivnagar which runs from Mekhri Circle in the north to Bashyam Circle a little way south. Many prominent figures like movie actors, politician’s, entrepreneurs and industrialists live there. This part of Bangalore still preserves the tradition and heritage of the old Bangalore society.

Being the IT hub of India many working professionals come from all over the world and the rest of India to work here and since they travel alone without their families they prefer to stay very close to their work space to avoid the large amounts of traffic and pollution. And these are the best places to live in Bangalore for IT professionals like Marathahalli, Hebbal, Whitefield, Sarjapur, Old Madras Road, Outer Ring Road, Domlur, Koramangala, ITPL, Electronic City and HBR Layout as all these locations are close to several IT parks around the city and have excellent public transport service which makes it easily commutable for them.

The city of Bangalore is only going to get more developed and with many real-estate companies identifying the potential this city has to offer, they are constructing projects to cater to the advancing development. And with the residential market gradually picking up its pace it could spell good news for the real-estate companies in Bangalore.

Newly Launched | Forthcoming Residential Project in Domlur - Dreamz SUBHASHITH

Dreamz SUBHASHITH located in the east of Bangalore, Domlur was once known as Bhagat Singh Nagar. It is a modest locality in the city and there are mysteries surrounding its Name Domlur. Theories suggest the name derived from flower ‘Tombalur’ used in worshiping Lord Shiva to a pet name which was given by the significant Telugu population in this area.

Domlur is a prime location with many multinational-IT companies surrounding its periphery including Dell, Microsoft, and IBM. The airport road flyover on old airport road bears significance to this area and after its inception in the year 2006, there was an increase in ease to reach Madras Regiment and HAL.

Neighboring areas of Domlur are Indiranagar, Old Airport Road, Marathahalli, Ejipura, Koramangala etc. Domlur is an advantageous area with good connectivity to MG Road, Koramangala, and Indiranagar. It is home to several military establishments such as Indian Air Force, ASC, EME Workshop and the Military Command Hospital. Domlur has plenty of amenities and recreational avenues which make it a popular destination to live in and Dreamz SUBHASHITH is a brand new project at this prime location of Bangalore.

Domlur comes under Shanthinagar ward and Kempegowda bus station (Majestic Station), Bangalore city railway station and Bangalore International airport are easily reachable from this location. Real estate in this place is buzzing and Dreamz SUBHASHITH is providing 2 BHK and 3 BHK, apartments in the range of 1200 sq.ft. to 1800 sq.ft. area. Built with the latest construction technology the features niceties such as community hall, steam Jacuzzi, gymnasium, clubhouse, children’s play area, video doorbell and swimming pool in a G+5 architecture.

Related Forthcoming Project in Hosa Road: DREAMZ SUNISCHIT

Bangalore Tops The List of Realty Destinations

Bangalore is at the top of the investment destination in the property market among all the Indian cities. Reports say that the private equities that have been invested in the Indian real estate market from the year of 2013 have been of the order of $ 51.5 million. Out of that about 13 percent of the investment that is about Rs. 44, 450 crores have been invested in Bangalore real estate. Bangalore now stands at the 20^th position in terms of global investment and in terms of global preferences. New Delhi stands at 34^th position and Mumbai at 42^nd as per the estimates of Jones Lang LaSalle (JLL). Along with that in the survey made in the earlier months of this year Bangalore stands at the top 20 technology rich cities of the world too. 

It is a fact that when it comes to the real estate volumes London, Tokyo and New York always tops the list in commercial real estate. In the Asia Pacific region the cities that ranked very high in the direct rolling of real estate investments are Singapore, Tokyo, Seoul, Sydney, Hong Kong and few others in the second quarter of the year 2015.

 In case of Bangalore the IT Parks and the SEZs that offers leased office spaces and assets attracts significant interest from the investors all over the world. This is significantly low risk but has high occupancy levels with a stable rental yield too. The office space absorption of Bangalore has witnessed the highest rate this year surpassing all the cities. The experts opine that this along with simultaneous job creation would definitely add to the growth of residential space absorption.

 The experts point out that as a thumb rule for every absorption of 100 sq. ft. of office space or commercial space there is a demand of 600 sq. ft. of residential space or area. Bangalore has already established itself as the biggest market of commercial space and so the residential absorption is bound to improve. According to a recent report there was an estimate that the residential sales are falling although commercial space absorption's are at all-time high. The reason attributed by the experts are that there may be generation of job but the average salary provided are not enough to invest in the real estate segment which requires high investment. But the experts still contend that as the industry prospers and time passes by the situation in the residential segment is bound to improve proportionately. 

We would regularly update this blog, keep following us for more information.

Gist of the Real Estate Regulatory Bill: How is it going to help the consumers?

Last year, the union government approved amendments to the Real estate Regulatory Bill which was long pending. There have been controversies and mixed reactions about the bill. The bill also proposes to bring the ongoing projects under its ambit which many lobbies and sections of the real estate were not happy about. Urban Development Minister Venkiah Naidu expressed confidence that the Real Estate Bill will become a "reality" during the ongoing Budget session of parliament. 

But what does the bill bring in new to the table?

We detail below few of the salient points of the Bill as under:

The ten foremost points of the Bill are being discussed as being passed by the union cabinet:

1. The Bill applies to the commercial and the residential buildings and developments.

2. According to the Bill, it is mandatory for any project to be registered with the concerned real estate regulator who will be entitled to oversee the project and settle disputes if any. 

3. The bill which was earlier submitted by the previous government in power in 2013 but wasn’t passed in the Rajya Sabha aims to give a fillip to the confidence of the investors and rule out the unfair and illegal practices by the sector. The government led by the Prime Minister Mr. Narendra Modi decided to amend the bill. 

4. The proposed bill undertakes to address the issues pertaining to the delays in the projects due to delayed approvals which left the buyers wait for longer periods and the developers went into higher debts. 

5. The realtors feel that this bill will lead to more transparency in the sector and pave the way for more maturity in the sector. 

6. One more issue that this bill redresses is the control of black money as the vendors are often paid partly in black money invoking corruption and in turn many emerging small businesses have to exit from business and also the middle class find it difficult to stay in such a market. 

7. One of the key provisions of the bill makes it compulsory for the builders and developers to put aside 50 percent of the buyers’ money into an escrow account collected before the sales of the homes and use it for the construction of the projects. 

8. The bill also proposes to regulate unfair practices like diverting funds and utilizing it for other projects or purposes which has been the cause of delayed projects in many cases.

9. These kinds of practices are against the buyer’s interest and also delays projects which are to be overlooked by the regulatory authority. 

10. The proposed bill seeks to divert the flow of funds for the right purposes and imposes penalties including de-registration of projects and imposes other fines in case of default or breach of the provisions. 

The critics opine that the common buyer and the market at large will benefit from this bill in the following ways:

As the regulatory authority will have all information about projects including the ongoing ones including that of the commercial sector the buyers will have genuine projects to buy from and the chances of getting deceived in the hands of unscrupulous developers are reduced. This bill will also cover the ongoing projects which have not received Completion Certificate thus protecting all the buyers of the current market. 

Secondly, the developers wouldn’t be allowed to advertise or launch projects without the prior approval of the authorities which is also a healthy sign. The Bill has prohibited any sale of properties based on super areas and the developers are advised to advertise the carpet area of the apartments which is a definite protection for the consumers. 

The bill proposes to bring extra transparency as the developers have to disclose layout plans, submit clearances, and name the contractor and the architect, engineer and other key men associated with the project. There are enough provisions in the bill to ensure that the projects are completed within time. 

Apart from the protection, it provides to the consumers and the developers, the real estate regulatory bill proposes to ensure that black money transaction reduces and this saves the loss of the exchequer. Thus, this bill although not liked by many developers as it includes the commercial projects and the ongoing projects but it definitely goes to address the issues of the common buyer.

Is Dreamz Infra Fraud? – The Real Insights

There have been comments, opinions and bad reviews as well stating that Dreamz Infra is fraud and are a bunch of cheats. We really do not know who posts such comments and for what reason. Neither do we understand the purpose or the motive of these people. What we can understand is that Dreamz Infra is the only company in Bangalore where in spite of the land and the costs of the apartments going sky high it prices the apartments at just Rs. 10lakhs as the starting price. It is true that we have sold flats and apartments at even lower prices than that as well. Undoubtedly you won’t find another company doing it. The reason is that Dreamz Infra is bold enough to face the adversities of the market and empathize with the middle class and keep the prices as low as the Tier II cities and price its apartments. The company had been incorporated with this intent and this has been the fourth year of its operation. It’s not that nothing has been achieved. Already four complexes of apartments housing more than four hundred people have been handed over possession. The names of the complexes of apartments are Om, Namah, Shiva and Suvidha located at the best of the places amidst all infrastructures and with all luxury amenities. But mind you the prices at which they were sold were just Rs. 10 lakhs or even lower as the quoted starting price. Don’t you think it’s pretty unimaginable in a market like Bangalore where most of the apartments were earlier high priced due to the higher purchasing power of the population of Bangalore. But who would think about the large population earning around Rs. 25, 000 per month and paying a rent of Rs. 8000 per month. This is what Dreamz Infra dared to do forgoing the profit motive and still supply apartments and homes at the least of prices.

We admit that there are follies and working in this system as you can see that there are so many complaints for small things on the internet and thus these are being circulated either with purpose or may be few of the customers are not so happy because of delay of approvals or other things. Let us tell you the revolutionary always quietly does things and brings the revolution and positive change in the society. In doing that many interests are being impaired and many objections do come flowing in and then they start to curb you and destroy you. This is the same thing that’s happening with Dreamz Infra India Limited and its noble effort is being tried to be demeaned. 

We wouldn’t say that you have to overlook such comments and blindly believe us showing our achievements. But we will definitely request you to keep your eyes and ears open and intelligence sharp to understand the situation and not only gauge your position but ours as well. If you talk of delay do you think that if you pay five times the amount that Dreamz Infra charges you, there won’t be any delay? Just read the reviews of the famous developers of Bangalore and the country and you will see the same bad remarks or even more. You will see that delay also happens in their case as well where they have charged crores for one single flat. They are not to blame as the market conditions, environment and the legal framework that they work in makes them compelled to behave in this manner. There are instances of famous and reputed developers where a project is delayed more than 6 or 7 years. But if you see in four years Dreamz Infra has completed four projects and more than ten are on the way of completion. We assure that they will be completed soon. 

We regret from the bottom of our hearts for any slightest inconvenience caused and we hope that with the regulations coming in the market things will improve and we will also be able to manage better. But as always the Customer is the King and it is for you that we have started to build houses as examples that apartments can be built at unbelievably low prices. This had been raising eyebrows and still few are there who are skeptic. 

That is the reason we have a procedure where the prospective customers are being given a choice to talk to the land owners and the previous customers to find out the reality of the project and the company as well. We also detail about the status of the approvals and how long it can approximately take in completing the project. Even after so much of effort if one gets influenced by these bogus comments and reviews the choice is theirs. All that glitters is not gold and at the same time you need to make hay while the sun shines. We wish you all the best in your home searching and shopping endeavours.

DREAMZ SAMAVESH - Flats In Hennur Road

Flats in Hennur Road are currently of great demand not only from the end users who want to stay at Hennur Road but there is a growing demand from the corporates too. There is a huge demand of commercial spaces as well. Why would it not be!The place is one of the most sought after areas with a great connectivity, near the airport and a place which is dotted with malls, shopping centres, schools, colleges and the like. Very near to it is Kammanahalli which is another great shopping centre with big brand retailers and supermarkets sprawling in the area. 

Dreamz Infra brings you Dreamz Samavesh at Hennur road which has 2 and 3 BHK apartments in a G+5 structure. The apartments are all spacious and with ample air, ventilation and light. Needless to say, they are all Vastu compliant which will guide you to success and happiness. The complex will have all sorts of facilities and amenities like swimming pool, jogging track, gymnasium, community hall, landscaped gardens, club house, steam Jacuzzi and many more. The building is Seismic Zone II compliant RCC framed structure with elegant entrance gates and lobbies made of granite. There are vitrified tiles fitted in the drawing and the dining room and with anti-skid tiles in the toilets. The internal walls are plastered with lime rendering. The main doors are made of teak wood frames and teak shutters. There are power back-ups and elevators too in the building with 24/7 security system. There are video door phone systems with CCTV cameras at all corners of the complex.

With all these facilities and amenities the prices come with Dreamz Infra hallmark which is at least 40 percent lesser than the market rates in the adjacent places. This is what is the advantage of the Dreamz Infra customers which you can also avail But the company sources say that one has to be quick in order to avail the opportunities as the number of flats and apartments are always limited.