[jkrishnakj]

Hi All,

Would anyone know details about the "Artha Blue Mountain" project at Nilgiris ? They are selling Plots & Villas at a place near Ooty.

The advertisements came in the Bangalore edition of Times of India a few weeks back. Apologies if this already covered in some post in this thread, but honestly, i didnt have the time to go through the full thread.

[Spitfire]

Originally Posted by jkrishnakj

Would anyone know details about the "Artha Blue Mountain" project at Nilgiris ? They are selling Plots & Villas at a place near Ooty.

STAY AWAY form ARTHA whatever.

They are a huge scam in the making and wait for it to got belly up anytime.

[benbsb29]

Interestingly, Artha Property is also promoted by TOI group.

[ukderebail]

According to experts property market is heading for a crash, unless bank interest come down to the previous 7 to 8% levels it is difficult to conceive revival of this sector. For example Godrej Millenium second sales is around 70 lakhs but official price is more than a crore. The Raheja Pebble bay remains unsold, Tata Aquila seems to be struggling. All real estate stocks have fallen flat. So guys pick and choose with leisure. BDA sites are resold at Rs 1200 per sft.

[2500cc]

Originally Posted by ukderebail

BDA sites are resold at Rs 1200 per sft.

Hi Umesh,

Could you please let me know where is this layout ?

TIA,
Rajesh

[download2live]

Originally Posted by ukderebail

According to experts property market is heading for a crash, unless bank interest come down to the previous 7 to 8% levels it is difficult to conceive revival of this sector. For example Godrej Millenium second sales is around 70 lakhs but official price is more than a crore. The Raheja Pebble bay remains unsold, Tata Aquila seems to be struggling. All real estate stocks have fallen flat. So guys pick and choose with leisure. BDA sites are resold at Rs 1200 per sft.

Umesh this sounds good but there is one more factor called Black money.
This unaccounted cash makes sure that the property prices never come down. No matter how much builders jack up the price, someone quietly comes and unloads a sackful of money on their desks. These guys do not buy to live in the apartments. Its an investment for them.

And we middle class people suffer.

[ukderebail]

Originally Posted by 2500cc

Hi Umesh,

Could you please let me know where is this layout ?

TIA,
Rajesh

Well well that is the secret or you want me to reveal it, Lolz. It is in Bhankshankari VI Stage you will find plenty of brokers go bargain and swing a deal RAJESH

[2500cc]

Originally Posted by ukderebail

Well well that is the secret or you want me to reveal it, Lolz. It is in Bhankshankari VI Stage you will find plenty of brokers go bargain and swing a deal RAJESH

Thank You Umesh, I was looking more towards Bangalore North.

Regards,
Rajesh

[ukderebail]

Originally Posted by download2live

Umesh this sounds good but there is one more factor called Black money.
This unaccounted cash makes sure that the property prices never come down. No matter how much builders jack up the price, someone quietly comes and unloads a sackful of money on their desks. These guys do not buy to live in the apartments. Its an investment for them.

And we middle class people suffer.

To be very frank there is a cycle of demand and supply, if the demand crashes to the lowest and supply is at the peak, than the builders are forced to cut the prices. Similarly why there is a delay in construction or projects, when the builder feels that the prices of raw material is shooting up, all the builders in unison put their tools down, i mean they stop construction this forces the suppliers to bring down the cost. Similarly when the middle class feels that the price is too much we all should boycott, when there is nil demand virtually the prices will start dipping. Black money investors cannot be eliminated but they come in only when there is strong demand in the economy otherwise they will run away. I would say never buy a second sale house unless from the owners as a maxim to elminate such black money generators. If everybody boycotts see the fun.

Originally Posted by 2500cc

Thank You Umesh, I was looking more towards Bangalore North.

Regards,
Rajesh

Rajesh there are places in the North too beyond Hennur road, pl check out.

Originally Posted by Spitfire

STAY AWAY form ARTHA whatever.

They are a huge scam in the making and wait for it to got belly up anytime.

Thanks for alerting, earlier there was Orange properties too who were taking consumers for a ride, now thankfully they are not active or present. I feel people should start exposing with whomever they have had bad experience than this thread will become really useful.

Originally Posted by jkrishnakj

Hi All,

Would anyone know details about the "Artha Blue Mountain" project at Nilgiris ? They are selling Plots & Villas at a place near Ooty.

The advertisements came in the Bangalore edition of Times of India a few weeks back. Apologies if this already covered in some post in this thread, but honestly, i didnt have the time to go through the full thread.

90% of the times when you buy a property out of your home state or living place it is bound to result in losses. We do not know the ground realities, secondly if they are attracting investors, thirdly if one does not have the intention of settling down than there is no use. I have been cheated on investment in Kochi, and my Mysore investment within the state has been in doldrums. Long back my father had invested in Hosur in VGP that too went bust. So it is real dicy according to my experience, if you want to risk it. Go ahead.

[jkrishnakj]

Originally Posted by Spitfire

STAY AWAY form ARTHA whatever.

They are a huge scam in the making and wait for it to got belly up anytime.

Can you help with more details please ? The reason i was exploring Artha is precisely because of what Benbsb was saying. I was wondering if they would create a scam themselves, being part of the TOI group.

Originally Posted by benbsb29

Interestingly, Artha Property is also promoted by TOI group.

[mkh]

Originally Posted by ukderebail

According to experts property market is heading for a crash, unless bank interest come down to the previous 7 to 8% levels it is difficult to conceive revival of this sector. For example Godrej Millenium second sales is around 70 lakhs but official price is more than a crore. The Raheja Pebble bay remains unsold, Tata Aquila seems to be struggling. All real estate stocks have fallen flat. So guys pick and choose with leisure. BDA sites are resold at Rs 1200 per sft.

I believe that is true but that statement has been valid since 2008 and there is no price correction in most places. There are so many project starting, some above 2-3 crores even now. Where is the price correction? Problem is where one wants, there is hardly any. Pebble bay is above 2 crores anyways-right? Check out East bangalore- Kasturi Nagar, HRBR, Banaswadi- rates are NOT falling at all. Even ORR around Marathahalli. People who are holding have deep pockets and can hold on.

[hrman]

I can see the next few months having a small correction in property prices.
There are many big projects which are unsold. Owner-Investors are selling off for lesser prices than the builders in first sale. A recent example was Prestige, which held a property fiesta for selling its unsold units in Shantiniketan, Wellington, etc. There were not too many takers, when resale apartments are available at 75-80% of what Prestige was quoting. This is all artificial jacking up of rates, which is not sustainable for too long.

Most of the 70 lakh-1+ crore range apartments are facing a tight crunch. Prestige Shantiniketan, Sobha's projects, Elita, Brigade Gateway, Tata Aquila are just a few of the overpriced white elephants with few takers. Raheja Pebblebay residents are filing a suit in the consumer court for inferior qualityconstruction.They have a hoard of unsold units too.
My bet would be to wait it out for 5-6 months, prices are certain to come down by a bit. If buying an apartment now, bargain like crazy. You have a high probability of getting it close to your expected price.

[Spitfire]

Originally Posted by mkh

I believe that is true but that statement has been valid since 2008 and there is no price correction in most places.

Have you gone in with an intention to buy or is it a let me find out first.

Take cash in hand (not literally) and sit down and discuss the price. You will be surprised.

Originally Posted by hrman

You have a high probability of getting it close to your expected price.

+1. I have seen this myself. Bargain, bargain and bargain more.

[UKR]

Guys any idea about SJR builders? From my research I could see that they have been operating in Bangalore for a long time now. They are running a prelaunch offer in electronic city phase 2 and are quoting 2350 per sqft. Would appreciate if anyone who knows about them could share the details.

[Spitfire]

Originally Posted by UKR

Guys any idea about SJR builders?

Good guys. But all prerequisite homework to be done individually. But yes folks on whom you can spend your valuable time doing some research.

As a general rule, before buying into any project groundwork is required both literally and figuratively.

In Bangalore in general, due to the stinking depths of corruption prevalent. One is never really sure. So due diligence is required.