East Parade By Jain Heights In Bangalore

Why Jain Heights East Parade?

Being an old resident of Bangalore, East Parade by Jain Heights had always caught my fancies as it promised the old-world charm of the Garden City. So, last Saturday, I finally decided to visit the project. And not just once, I visited the project twice.

At the outset, the project looks elegant with great architecture. The tagline “Old World Charm, New Age Living” holds quite true to the construction. Grabbing my helmet quickly, I began inspecting the project. About 90 per cent of the work is completed, with the finishing work going at a fast pace.

The moment I entered, I was impressed to see a perfect blend of colonial gentility with modern amenities. Located off CV Raman Nagar, East Parade offers 2, 3 and 4 BHKs. The lap pool with a deck in penthouses really adds to the project’s ‘luxury’ appeal. The floor plan is good with a spacious kitchen.

Location & Connectivity

The best part of the project is its location. Indiranagar and Marathahalli are just 6km away that ensures connectivity to MG Road, Ulsoor, Majestic, on one side and to the Outer Ring Road on the other. Thus, the IT hubs of the city are also easily accessible from here.

My first visit was around late evening. The area was quite busy with several supermarkets like Nilgiris, Star Bazaar, Fair Choice, and More in the vicinity. There were several local eating joints and bakeries to satiate my hunger pangs. From banks to supermarkets to clinics, the area was quite self-sufficient. While returning home, I realised that Bagmane Tech Park and RMZ Infinity are also easily accessible from here.

However, one thing that ticked me off was the traffic congestion at the main road. But I feel these days it is quite usual in Bangalore.

I made my second visit to the East Parade project on Wednesday morning to see the traffic situation. Trust me, it was not at all bad. I saw several popular school buses waiting near Adarsh Vista, a premium villa project.

Considering the location of the project, accessibility to all the important parts of the city is great. There is an auto stand at about 100 meters, while Vignana Nagar Bus Stand is at a distance of a mere 650 meters. I also saw several Ola and Uber cabs in the area.

Construction Status & Possession Date

entrance, jain heights east parade, cv raman nagar
The entrance to the apartment complex

East Parade is 90 per cent completed and the developer is set to hand over the complete possession by July 2017. In fact, three families have just moved in last month. While the major construction work is over, finishing work is in progress. Outside the main compound wall, the trees have been planted and the temple inside is already functional. The work on clubhouse and swimming pool in underway.

Prices

At present, the price per sq.ft. stands at Rs 6,575 per sq.ft. In September 2013, the project was launched at Rs 4,950 per sq.ft, clearly indicating an appreciation of about 32 per cent in the last three and half years.

So, definitely the project is not for the pocket-friendly segment. So far, the profile of the buyers include software professionals, scientists from ISRO and officials from DRDO, and also few doctors from Manipal Hospital. So, you can be assured of your neighbours.

garden, jain heights east parade, cv raman nagar
Garden being set up at the entrance

Unit Sizes & Amenities

The are standard 2 BHKs, 2 BHK+ study and 3 BHKs. On the premium front, there are 4 BHKs and on the ultra-premium front, there are 4 BHKs pent houses duplex with lap pool. I visited the model 4 BHK pent house with lap pool, trust me when I say buy it if your pocket allows. The quality of the paint, the finishing on the doors and windows, the lap pool – there is everything you would aspire for in a premium property.

I interacted with the Marketing manager of the project and learnt that only 34 units are available.

Conclusion

tower, jain heights east parade, cv raman nagar
Completed Tower

Location-wise the East Parade project is bang-on. For the location and amenities, I would give 5/5. Since there are just 380 units and the project is spread over 7 acres, there is lot of open space.Price is bit on the higher side but I guess luxury is expensive. Traffic could be a major problem once all the units are occupied.Well, if you have the time and money, visiting this project makes all the sense.

Prestige Ferns Residency by Prestige Group

For those looking to buy a premium property in and around Sarjapur Road would have definitely heard of Prestige Ferns Residency. Well if you have been wanting to visit this project but have not got time, don’t worry! We’ve got it covered for you.

Location & Connectivity

When it comes to connectivity, the project offers great advantage due to its location at Haralur Road. Situated in South Bangalore, it offers proximity to important places like hospitals, educational institutions, hotels, bus stops, and restaurants.

The project also ensures seamless access to multiple business destinations including Koramangala, Whitefield, Sarjapur, ITPL.

Social Infrastructure near Prestige Ferns Residency

When it comes to social amenities, the project offers proximity to the following:

• Leading hospitals like NationWide HSR Layout Clinic
• Educational institutions like VIBGYOR High School and NPS.
• Shopping malls like Big Bazaar Express, Spencer’s Hyper Market
• Nearest bus stop is Haralur Bus Stand

However, the road that leads to the project is little narrow. It took me about 30 minutes to cover just 4km from Sarjapur Road (that too on a Sunday afternoon).

Prices & Specifications

Here’s taking a look at some facts and figures:
• Total number of apartments: 1,483
• Construction status: Ongoing
• Total Area: 25 acres (23 residential towers)
• Sizes: 1,174 – 2597 sq. ft.
• Price: Rs 73 Lakhs Onwards

For those eyeing 2BHKs can consider units nearer to the main gate. If you are looking for the 4BHKs, then you might have to go at the far-end.

BHK Configuration Sizes (sq.ft.)
2BHK: 1,174 – 1,197
2.5BHK: 1,290 – 1,331
3BHK: 1,749 – 1,755
3.5BHK: 2,221 – 2,240
4BHK: 2,569 – 2,597

A Few Things To Keep In Mind

Tower 23 (This faces the Lake), Prestige Ferns Residency, Haralur Road
Tower 23 (This faces the Lake)

• With BBMP’s demolition drive, buyers have become cautious about the project built near the lakes. Ferns Residency is close to Kasavanahalli Lake. While the builder has adhered to the norms, one must not forget the froth that appeared last year during heavy rains in the same lake.

• There is a drain that passes by near Tower 23. Though the developer has tried best to cover it and make a bridge there, there are chances of stench in the future. The chances of mosquitos are also high for the lower units.

• While interacting with another prospective buyer, I learnt that there is also a graveyard on the right side. So, see if it matters to you.

• The backside of towers 20,21, and 22 are facing towards empty land parcels. In case, you feel construction will happen there, let us tell you that the land parcels are small and the construction can go maximum up to G+3.

• For water, there are about 15-17 borewells. Cauvery water provision is in the pipeline.

Construction Status

Phase II Construction in progress, Prestige Ferns Residency, Haralur Road
Phase II Construction in progress

The developer has already started giving possession for few units. About 85 flats have been handed over, out of which woodwork in 50 per cent of the units is completed. About three to four families have already moved in. By May 2017, major handover is expected to happen.
Final painting and finishing work of the common areas is not yet done and will only be started after a year of completion or at least when 85 per cent families move-in. The logic that the developer gave was that woodwork makes these areas dirty. That, I would say, is a thoughtful move!

For layout, construction quality and floor plan, I would go for 5 on 5. Also, in few towers, on the 5th, 10th, 15th floor, there is a private balcony which is little bigger in size as compared to other units.

However, for the size of the amenities like swimming pool and tennis court, I feel they are a little small, considering the number of families that are expected to live here.

Offers

View of the Clubhouse, Prestige Ferns Residency, Haralur Road
View of the Clubhouse

There are no offers as such. But for the phase I, the Occupancy Certificate is already available. So, you don’t have to pay Service Tax and VAT. Developers usually hike up the per sq. ft. price after obtaining the OC. But for limited period, Prestige has not hiked up the prices.

The Bottomline: Is Prestige Ferns Residency worth your investment?

Prestige Ferns Residency offers good amount of open space to residents and is close to everything you need yet conveniently tucked away from the hustle and bustle of the city.

Landscape work in progress, Prestige Ferns Residency, Haralur Road
Landscape work in progress

I got a chance to speak to few of the investors, who told me some positive points. These include,
• Speedy construction
• Great fittings
• Good customer service
• Hassle free property purchase experience!

5 Reasons Why Pune Property Market Will Perform Better In 2017

From the cultural capital of Maharashtra to automobile and manufacturing hub to Information Technology to education hub- the transformation journey of Pune and its economy has been nothing short of remarkable. It has come a long way over the past two decades. With the unique confluence of growth drivers and improving infrastructure, the city is expected to perform even better in the times to come.

Skyline of Pune
Skyline of Pune

Its inclusion in the 100 Smart Cities list has further increased the interest from several multinational companies to set up and expand operations here. This, in turn, will create increased demand for housing, and provide end-users and investors alike, an outstanding rationale to place their faith and bet on this market.

In this backdrop, PropStory presents you five reasons why Pune is likely to do well in the coming year.

1) Increased Leasing Activity

Pune has consistently surpassed most of the other markets over the last two to three years, garnering healthy returns on investment. Not just residential, commercial segment too has witnessed healthy growth. As per the latest market reports, leasing activity significantly increased in the first two quarters of 2016 in the peripheral business district of Hinjewadi, Hadapsar, Yerwada, Kalyani Nagar, Phursungi and Kharadi.

kharadi IT Park
A commercial project in Kharadi, Pune

US based IT/ITeS company took space in WTC Phase III in Kharadi, while Infosys leased more than 600,000 sq. ft. space in Hinjewadi. Other major deals that made headlines this year were UBS taking up space at Commerzon in Yerwada, Allstate in SP Infocity, Citi Bank in EON Kharadi amongst others.

Larger office occupancy that too by marquee names is a leading indicator of upcoming demand in residential market for investment and end use.

2) Options Galore for Buyers

Real estate market across cities is going through a consolidation phase and Pune is no different. We are now seeing several leading developers joining hands to raise funds and mitigate the risks involved. This is good from transparency perspective and will eventually result in restoring buyers’ confidence in the sector.

Moreover, with the RERA Act likely to be in place by 2017, developers in Pune are now trying hard to complete their already launched projects instead of launching new ones. Thus, soon a lot of ready-to-move-in inventory is expected to enter the city. Since majority developers are working towards clearing their existing stock, this is the golden time for fence-sitting buyers to take a plunge in Pune’s market. Moreover, from affordable to mid to luxury, Pune boasts of an array of projects in every category.

3) Unbeatable Infrastructure

Proximity to Mumbai has significantly enhanced the accessibility quotient of Pune. The Mumbai-Pune Expressway has made it a much sought-after location for investors, while good weather makes it a preferred destination for end-users. Further, its inclusion in the smart city list just adds another feather to its cap.

While Pune already boasts of robust social and physical infrastructure, there are several projects in the pipeline that are further expected to up the ante of the city. These include,

Pune metro rail may change travel dynamics in the city (credit: Google images)
Pune metro rail may change travel dynamics in the city (credit: Google images)

Metro Rail: The first corridor will enhance the connectivity between north and south Pune. It will pass through Pimpri-Chinchwad, Shivajinagar, and Swargate. The second corridor is expected to be a boon for East-West route. Both the corridors are expected to be completed by 2020.

Second Airport: In addition to the existing Lohegaon Airport, a new international airport is planned to come up at about 14km west of Rajgurunagar.

Bus Rapid Transit System (BRTS): The Sangamwadi-Vishrantwadi Corridor and the Sangvi-Kiwale Corridor in Pimpri-Chinchwad became operational last year with over 600 buses. If everything goes as per the plan, this year end is expected to see the completion of routes between Nashik Phata and Wakad, Nigdi and Dapodi and Nagar Road. The Kalewadi-Phata to Dehu-Alandi route is most likely to be operational by 2017.

4) Good Returns on Investment

As per the latest Knight Frank report titled “Indian Real Estate (Jan-Jun 2016)”, Pune continues to remain the best performing residential market among the eight tracked cities with minimal quarter to sell (QTS) unsold inventory.

Pune has also recorded decent year-on-year appreciation in both capital and rental values. The bulk of the demand for housing stems from the steady migration of professionals and students from other parts of the country. This can be attributed mainly to the presence of IT/ITeS, manufacturing hubs and educational institutions.

Moreover, the property values in the city are still realistic as compared to the other metros.

5) Presence of Credible Developers

Today, real estate is in the consolidation phase. Thus, only credible and stronger players are likely to do far better than the competition.

In a nutshell, Pune offers better opportunities to invest in real estate because of its diversified economy, close linkage to Mumbai, improving infrastructure and office demand. Once the final notification of the revised DCR norms are out, the city is most likely to see new launches in the coming six months. All said and done, the trend of Pune’s real estate market, which has a large end user base, performing against the odds is expected to continue even in the times to come.

Reasons For Godrej Properties To Enter Noida And Greater Noida Market

Godrej Properties - Greater Noida, Noida

Since its inception in 1976, Noida and later its twin Greater Noida have a come a long way. Offering a perfect blend of diverse economic framework led by IT/ITeS development, the city emerged as a cost-effective alternative to Gurgaon in the NCR. However, with constant infrastructure upgrades coupled with several pro-development policies, Noida no longer holds the tag of just an alternative in NCR, but is a dominant manufacturing, commercial, retail, and IT hub.

With these positive factors at play, the real estate dynamics of Noida region are constantly being rewritten. Being touted as the next growth driver in the NCR, it has emerged as a global city. What works really well for Noida is its seamless connectivity to the Delhi NCT via roads, highways and metro.

DND Flyway - Connects Delhi NCT To Noida-Greater Noida

DND Flyway – Connects Delhi NCT To Noida-Greater Noida

Buoyed by these factors, with 119-year-old legacy, Godrej Properties is foraying into these prominent twin cities in the NCR through residential ventures. One of the few real estate companies with a truly national footprint Godrej Properties is planning to target wider budget ranges with differentiated products at Noida-Greater Noida region. Thus, here are five factors that are primarily catalysing realty growth in the region –

Noida: City of Opportunities!

Owing to its strategic location and developed infrastructure, Noida region has been constantly climbing the liveability index ladder. The twin cities boasts of excellent connectivity to Delhi via Delhi-Noida-Direct Flyway (DND) and is connected to Agra via Yamuna Expressway. Another area where Noida-Greater Noida have an edge over other cities is the planned development with clear demarcations of residential and commercial sectors. That’s not all, from eminent educational institutions to hospitals to avenues of entertainment, Noida does not disappoint on any front.

The city, today, is abuzz with employment opportunities and has grabbed the eyeballs of several multinational firms such as IBM, AON Hewitt, Fujitsu, CSC, TCS, HCL, Adobe, DELL, to name a few.

Entry roads under development at Sector 150 Noida. Godrej will be developing a project here
Entry roads under development at Sector 150 Noida. Godrej will be developing a project here

Presence of large IT parks like Logix Cyber Park, DLF IT Park and Stellar IT Park have just added more glamour to its appeal. The proactive Noida authority has allotted land of upto 3 lakh sq mt for further IT/ ITeS firms along the Noida-Greater Noida Expressway. Of this 1 lakh sq mt has been given to Infosys which is likely to employ nearly 25,000 people here. And for the media professionals, Film City is ‘the’ place.

To further enhance the liveability quotient, several infra projects are in the advance stages of development. These include extension of Dwarka-Noida City Centre metro line to Pari Chowk, elevated road from Sector 63 to NH-24, IT Knowledge Park on Yamuna Expressway, and the much-talked about Jewar Airport , among others. In September 2016 the Aviation Secretary of India, R N Choubey asked for location maps as the next requirement for approvals. The Metro development is happening at a breakneck speed and is for one to see.

Noida region is probably the most economically forward and modern regions of the largest state of India (in terms of population), Uttar Pradesh, precisely the reason that authorities are always focused at providing best environment for development in this belt.

Lack of Credible Institutional Real Estate Developers

Metro development work along side Noida Greater Noida Expressway
Metro development work along side Noida Greater Noida Expressway

With employment opportunities galore, housing demand has significantly scaled new heights in the last couple of years. However, the epithet of ‘affordable destination’ did not really help Noida in attracting many leading names in the industry. Until few years ago, Gurgaon, now Gurugram, used to be the hot destination for luxury properties primarily due to the presence of several MNCs and proximity to international airport. But gone are those days! Noida region today has has become a popular destination for premium and luxury housing due to supportive social and economic factors.

The development in this segment mainly comes from the increasing number of HNIs from the established IT/ITeS firms and high-ranking government servants, bureaucrats, and defence personnel. Moreover, as pointed out above the affluence of Noida attracts whos who from all northern states states to think of an address in this fast growing belt of NCR. Thus, all these factors have compelled some of the leading names in the industry like Godrej Properties to foray in this market which gives a win-win proposition to them as well as the residents in this belt of NCR.

Twin Cities: Noida-Greater Noida

Strategic location, excellent inter and intra-city connectivity and lavish open and green space- this is twin cities of Noida and Greater Noida for the starters. If the former scores high on the presence of IT/ITeS hubs, the latter is establishing itself as a manufacturing hub . It is a global destination for MNCs such as Escort Yamaha Motors, Honda-SIEL, Denso, Graziano Transmission, Honda Power Products Ltd, ST Micro etc.

Thrown open to public in 2011, the Buddh International Circuit placed Greater Noida on the global map. And with realistic property rates and several infra projects on the anvil, these twin cities have carved a niche for themselves in the realty map of the Delhi NCR.

With the presence of several educational institutions and IT/ITeS companies, the twin cities are today popularly known as the education-cum-employment hub. And icing on the cake is the expressway connecting these cities to other part of the NCR.

Increased Leasing Activity

As per the latest market reports, Noida recorded a healthy office leasing activity in the first half of 2016. In fact, if we were to go by the reports, the secondary business district like Nehru Place, Saket, etc witnessed a decline in transaction activity as occupiers found cost-effective options of better quality in the peripheral markets of Noida and Greater Noida. Few of the notable developments include Zensar Technologies leasing around 12,800 sq. ft. in Green Boulevard and 1E leasing around 13,000 sq. ft. at Advant Navis Business Park.

Noida region’s realty market is also anticipating a shot in the arm with the planned industrial township in Gulistanpur under the DMIC project. This will further encourage industrial development and strengthen regions’ tag of a manufacturing city.

Pro-Development Policies

Noida and Greater Noida, probably, are the the only two regions in NCR with an array of pro-development policies. The authorities have been on its foot to make sure that fair treatment is meted out to home buyers.

No completion certificates to builders flouting layout plans and setting up a panel to check construction quality of the project were two notable announcements last year. The authority has been equally considerate for the builder fraternity as well. In May this year, the authority decided to give NOCs to builders on pro-data basis. Lastly, the latest exit policy that allow builders to surrender their surplus land and get the deposit back is a great move. With more cash in hand, developers can use the money to complete their existing projects.

For a player such as Godrej Properties which comes with a long history of delivery, quality and assurance, Noida the twin cities offer is both a challenge and an opportunity, for the city has had plethora of issues pertaining to project delays and violation of building norms amongst others. This is where Godrej Properties with its processes, systems and consumer focus can create a lasting impact.

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