How Worthful is TGS Constructions to Invest?

Today most of us are dreaming to buy property in Bangalore, the reason behind this may be different from person to person for some it may be just for an investment but for some it is like a true dream which they have wondering to happen from the beginning of their career in the city. Real estate developers like TGSConstructions are one of those builders whose target market is mid low budget segment of the market. Since investors always wants to find properties at low price and majority of people in our country belongs to middle class so they have a huge market segment to play with innocent customers. These home buyers or we can say dreamers comes to mid budgeted property developers to buy a property whether flats or plots in Bangalore. They book properties by paying a very minimum booking amount and the rest payment they do according to their pay schedule. Till now the procedure seems good and as normal as a buying procedure of property in Bangalore.

Now let us check, what commitments TGS Constructions is doing while they sale their properties. Are they really doing what they are saying? Or those are just fictitious commitments to sale the property. We can find this out in the rest of this post and through some customers of TGS Constructions who are giving reviews on their property. But again a question arises are we reading or listening a true customer of TGS Constructions? If the customer is saying good about the company then maybe he represents for the company or if he/she is saying bad about the company then there is an equal possibility to blame a competitor as well.

How trustworthy is TGS Constructions?

Bangalore is a big city and there are more than thousands of real estate builders and land developers operating their business here in small or large scale. TGS Property which transforms its name to TGS Constructions adding residential land plots to sale in Bangalore to its product line has completed just couple of years in the City. The existence of the company is pretty old but it comes up as a brand to real estate when TGS was sponsored RCB Cricket Team of Bangalore. Where couple of the international players have endorsed it in IPL. That is not all few months later of this endorsement TGS has participated in a property show organized by BTV News channel. With exciting offers and low property price it started capturing most of the market and became a pain point for other property developers in the city.

Now the situation is like anyone can easily find complaints against TGS Constructions in any consumer portal or customer complaints sites. These complaints can be easily recognized because most of them are of similar writing style and pointing towards a same topic (Here you can find tips to detect fake online reviews). For a surprise there are sites where same content has been published with different customer’s names. 

For a new customer it is really hard to believe which one is right and which all are wrong reviews of TGS Constructions. But certainly you won’t afford to miss an opportunity just reading irrelevant reviews and comments from fraud builders or customers pretending as true customers of TGS Constructions.

Please feel free to share your thoughts on this topic, I may be wrong, evaluating the truthiness of TGS Constructions but I am sure you will not misjudge someone by just reading their on line reviews.

5 things to know before going for a free site visit with TGS Layouts

TGS Layout is one of the largest residential land developers of Bangalore in providing plots at an affordable price. Yet there are numerous property developers in the city but one should be mindful while buying residential land from any developer and TGS Layouts may not be an exceptional case. Here in this post, we will discuss the things which one should keep in mind while preparing to visit the residential land developed by TGS Layouts in the city.

TGS has started as a land developer and now it has its own construction team and it also builds residential apartments in the city naming as TGS Construction. Those apartments can be easily recognized because of the common pattern of names which are named after the renowned cities of the world. It has land property present in 15 major sites of the city and more than 40 apartments in different locations. From this data, a real estate folk also can understand how big TGS in real estate market of Bangalore is.

This 3 years old residential developer has hundreds of employees with all different departments and most of their employees are satisfied. This can be seen from different employee portal sites of company reviews. But that hardly matters when you are visiting a real estate firm to buy property. Although TGS is well known for affordable plots and apartments in Bangalore but don’t lure for it till your verify every inch of detail. Here you can find tips to verify builders in Bangalore.

Things to Remember while Going for a Site Visit with TGS Layouts

Here are points to keep in mind while you visit TGS Layouts office or you are using their free pick and drop facility to visit some of their layouts in the city.

1. One of the things you need to note it down is, when you are going for the site visit, you should be familiar with all the land related terms like what is Khata type, total measurement of the land, the number of plots and other necessary approvals.
2. Remember one thing that you have all the rights to ask them, what are the required property papers they do and don’t have with them?
3. Try to ask questions as many as possible about the land history and future prospects which includes any upcoming government or private projects in the nearby areas.
4. Question about the layout designs and civic amenities, for example, you can ask on the connective roads or a swimming pool if the layout has one.
5. Ask about the ownership details of the land, is the land have joint owners or solo ownerships. Check the sales deed of the property to know this better than hearing it from anyone.

Sometimes asking some personal questions will help you get more in-depth knowledge about the company questions like how long you have been representing this company and likewise.  Try to ask some deceptive questions in between the conversation, for example, what are the drawbacks of this property? Although these questions have nothing to do with your property buying decision but these are simply a great way to collect information about the property. I hope I have covered a good part of your property buying journey with TGS Layouts if anyone is having other points to add here, please suggest me in the comment section.

The unfairness of developers to buyers with the rise of complaints

The increasing trend of litigation

The relationship between the buyer and the builder was always governed by the agreement between them. In that, the past experience of the experts says that the builder always had an upper hand. The builder was said to have an upper hand in all the spheres right from the bookings of the properties, handing over possessions, and in all other chores. The experts say that the builders have a clause in the agreement that states the owners of the apartments have inspected every detail and the apartment or the house is delivered as per the agreed specifications. This clause naturally leaves the buyers very little scope for challenging or complaining against developer on any discrepancies in the court of law.

The unfairness of Developers towards Buyers

Statistics says that the court cases and the disputes relating to real estate and that too relating possession related issues have risen in the consumer courts. The trend watchers say that it’s not only a fact that it is happening due to increasing consumer awareness but simultaneously the cases of cheating by developers, defaults and delays are on the rise as well. The statistics say than since January 2016 about 2,041 cases have been launched for the disputes arising from housing related issues with NCDRC. This is of course close to the number of the complaints that was lodged in 2015. The statistics further point out that there were 2, 495 house related cases in last year and in 2014 about 1, 063 cases were lodged. This is also a fact that in 2013 a meagre 104 cases were lodged as per the government data. The government data points out that insurance grievance topped the list of complaints till last year and from recent times housing related issues have increased exponentially putting insurance related cases at the back seat.

The problem areas:

Recent survey data from Liases Foras pointed out that the issues and disputes between the buyer and the developer can get even worse if one looks at the increasing number of unsold units. The data says that unsold stock increased by 22 percent in the eight major cities of India in comparison to last year. According to the research data the increase in the unsold stock outnumbered that of sales. The inventory across the major cities of the nation stands at an alarming 42 months of average stock. This made the stock rise by 13 percent in one single year. The yardstick is that an efficient market maintains an inventory level of eight to twelve months.

The trend watchers opine that the developers have been struggling with the rising inventory since the recession struck in 2008. In this, the delay in completion of the projects is one of the most common grievances that the buyers have. When enquired, the developers normally put the blame on issues like delay in the approvals from the state and the central governments, agencies and the ministries. The other cases as per the data are the poor quality of constructions, deviation from plans, etc. The trend watchers say that in the past there were instances where the developers and the builders intentionally took to slower pace of construction if the larger parts of the projects were not sold or the sales were slow. They may have taken the capital generated from one project to another project in the pre-launch state or otherwise.

The outlook with RERA in force

The experts are of the opinion that once the real estate regulation Act came into being things will change diametrically. Once the RERA is implemented the developers who will be able to play the rules will be able to survive. The Act provides such clauses that once the law is in force the developers will have to register their projects even if it is under construction and they must disclose accurate information about the projects. To prevent the developers siphon funds the law also mandates that 70 percent of the buyer’s money has to be deposited in the escrow account to secure the common buyers. The experts and the veterans of the realty sector opine that the law maintains a level wherein a balance is maintained between the motives and intentions of the developer and the buyer. 

Mistakes people often make in real estate investment

You must know Donald Trump as he can be the president of the United States. But first of all he is a real estate tycoon. In one of his quotes he said “The most important thing of life is to love what you are doing.” That’s how he got the success that he represents today in real estate. But most of us do not follow this simple rule of life and end up being in clutches of other propensities and especially the negative ones like greed and invest in real estate. The only goal is to make money. In these kinds of half -hearted endeavours the experts say the end result is always failure. Yes! That’s true. Failure in real estate can cost you lot of wealth. That is precisely the reason why we are collating the factors of failure in real estate investment. Lest you want to fail, you better read this article if you want success in your real estate investments.

Common mistakes people often do while investing in Real estate

Rule 1: Done get fantasied and be megalomaniac

TV commercials of the expert realtors and books about real estate success and the millionaire real estate promoter next door can perpetrate one to wish of becoming a real estate tycoon. But that is not at all practical. One should start small with the reality in mind and not being governed by greed and megalomania. But investing in real estate like residential land plots is such an investment that has practically made many, rich from the rags. This makes others to think that it is possible but they have to have the mettle in them. So in case of real estate investment and especially at the beginning one should think small and cut the coat according to one’s cloth.

Rule 2: Be knowledgeable and do what you love

Do not be allured by the money but passion is very much required in real estate like all other fields. Your mission defines where you want to reach and why. These ingredients of success are very much needed in real estate investment also like all other fields if you aspire to be successful. The experts say that many gets allured by the glamour of real estate and get in to the field and most of these people end up in failing.

Knowledge is another factor that you need as well like all other fields. Known circles and acquaintance with of people is also required here to be successful. So, at first one should equate whether one has all the requisites to be successful in real estate or not. Having an ultimate cheat sheet before buying real estate may help you in such cases.

Rule 3: Be practical and lot of groundwork is needed

The experts may tell you that one of the thumb rules is that the property you buy need to give you a monthly return of at least 1 percent per month. You may get that but then you may find that you have paid more for the property than what you should have paid. These kinds of errors are inevitable if you go by the theory and do not come to the basic human motives and judge the ground reality. On top of that you should have lot of contacts to get the right information in time and you should know the market value of properties thoroughly. In practice it is always healthy if you have to pay lesser than the market rates. This always keeps you a step ahead in investment. If you are going for resale or old properties there would always be expenditure for repairs and other miscellaneous reasons. This says the experts have to be thought of while investing in the first place.

Rule 4: Do not overpay

There is no emotion or love when you invest on a property. The sole aim has to be to make profits and increase the return on investment. In this context it is never healthy to overpay for a property at all. Here are 5 emotional mistakes in buying real estate that a buyer should avoid while dealing with property.

Rule 5: Don’t look for information at wrong places

While it is true that you may get a good deal from the newspaper advertisements or the internet but the experts say that the real lucrative deals go by the word of mouth. That’s because many a times the sellers are in the paucity of time and trust is also a factor due to which they prefer the old methods especially in India. If you have lot of contacts and ways to get information then you would get the right information at the right time. The network is important in real estate.

Note: Here is a guide to detect fake online reviews to prevent you fall into any traps.

Rule 6: Never let greed control your actions

You may be seeing so many instances where people have become abnormally rich through real estate investment. This may make you allured towards realty investment and you may also be governed by greed and may also want to invest. This may lead to wrong decisions. That is why the experts suggest that you need to evaluate yourself, love the avocation and then invest. 

How to do a background check of a builder?

In today’s world as you all know real estate sector is one of the most complicated sectors of all. There are litigations and fraudulent behaviors of the Land developers, let alone the delay of the projects. In such a scenario, background check is imperative of the builder or the developer. The experts list the ways to do a due diligence of a project or the builder.

Ground Report

It is always advisable to get a ground report or a field report. Before you do that a quick glance in the internet review sites by typing in the name of the builder customer reviews and the project would help you a lot. The reason is that you will already know the project or the builder’s lacunas and the loop holes. This will help you in doing the field research. Then you need to go and visit the site and talk to past customers of the builders by location. You can also talk to the contractor regarding the payment of the company or the developer. This will give you an idea of the cash flow of the company and how soon can you expect the project to be completed.

Check if the builder is a member of the builder’s associations

A builder will always be marked ahead if he is a member of the CREDAI (Confederation of Real Estate Developers Association of India) or other bodies like the Builders’ Association of India (BAI). The reason is that these are self regulatory bodies in the realty sector who has strict guideline, if not followed the builders and developers have a chance to be blacklisted.

check CREDAI Membership for builders in Bangalore

Track Record

Track record is another important thing that has to be checked for the builder is most likely to behave in the future as they have behaved in the past. A discussion with the past customers will reveal the case. Insist on the transparency part of the builder that he has been maintaining with the customers. If there wasn’t much of transparency, that can be enough reason to cancel the builder.

Financial Stability

Checking the financial stability of the builder or the developer is a must. The builder will be able to deliver its projects in time if the management of cash had been proper in the past. The balance sheet of the builder is a good source to know about the financials of the builder. Few developers post the last year’s balance sheet on their websites. Others’ balance sheets can be obtained from the office of the concerned Registrar’s office (ROC). The website of the Ministry of Corporate Affairs also has the details for you to check. If the developing company is financially over-leveraged that is loan capital is more it’s better not to approach the company. You should look for the loans and the liability side and if you see too much of loans and debts it’s always advisable to refrain from booking with the company.

Crisil ratings:

Crisil ratings started in real estate in the year 2010 and it rates the projects of all the builders. Crisil Real Estate Star Ratings is called as CREST in short form. This helps you to see the assessment of Crisil of the projects. They also have a developer’s rating list which is all over India basis which also rates the builders. Click to check Crisil star rating for Bangalore projects.

Quality Certificates

The International Organization for Standardization9001 – 2008 certification gives you some kind of protection and tells you that the projects have a quality assessment. Thus if any builder or developer has the ISO 9001:2008 certification that particular developer can be expected to me more methodical and professional in its approach and quality processes. Here you can check for ISO standard Certification.

70% Prospective Customers Influenced from Online Reviews

How Important Online Customer reviews are to your Business

The internet is the major media platform today which influences the customers to find new business and get more clients and customers. The face to face interaction of the customers is no longer taken as the point of collecting the first information and instead the internet is the source for it. The customers instead look for online reviews which are an available resource for gathering information. A survey pointed out that 70 percent of the prospective customers look for the business reviews or online reviews for making a purchase decision. Thus if you have any product or service to offer, getting the reviews of the customers online has become important. But as the owners of businesses there is always a doubt in the mind of the people as to how much does an existing customer review affect the purchase decision of the prospective customers.

How many satisfied customers your business has?

How important are the customer’s reviews?

This question may be coming to your mind as how relevant are the customers reviews for business? Do the customers really read the reviews? What do the facts say? Here let me site an example, take any small or big size branded company lets take “TGS Layouts” a regionally well known real estate land layout developing firm exists since 2013. Now go to your internet browser, type google.com and search for TGS Layout and google will suggest you TGSLayouts Reviews which means customers are looking for its reviews after or before buying any products.

From the studies it has been found that an average consumer references of the specific brands and products of different companies appear over about 90 times per week in different internet activities like chats with family, friends and colleagues. The online customers reading reviews trust 90 percent of the times the people they know, according to Eco-consultancy as per the year 2009. Based on these facts and figures it can be said that more consumers believe the opinions of their friends and family of the colleagues before purchasing any product or even after purchasing a product.

Facts about Online Customer Reviews 

This is a fact that the reviews of customers are more trusted almost about twelve times more than the write-ups and the explanations that come from the manufacturers of the products. This was revealed according to the survey of the company named US Mom Internet users by online video reviews and as published in the E-Marketeer in February issue of 2010. The survey said that 44 percent of the moms use social media for different product references while 73 percent trust the online community references. Sixty one percent of the people rely and trust on the reviews of the users of products or they do the research before they make a buying decision.

Note: Sometime reviews may be written by company side to generate more sales these reviews can be easily spotted if you analyze few things on their writing or by using some free tools. Here is a post on how todetect fake online reviews.

The companies and the business houses should analyze these facts and figures and then should know that online reviews of the customers and reading good reviews elevate the customers’ confidence level. This is more so as two thirds of the customers of any product trusts the reviews written by customers. Thus any business house should encourage their customers to read and write reviews and also the potential customers should be encouraged to read and write customer reviews.

Impact of social sites on your Business

The impact of Social Media

Research says that 53 percent of the people using twitter endorse the companies or the products through their tweets with a whopping 48 percent of them writing about their intentions of buying the respective products. A large percentage like 67 percent of the shoppers refers more online from the online community of their friends on the social media websites. The most effective strategies that are being considered are different blogs, Facebook, Twitter and the online customer reviews for mobilizing the customers to talk about their products online.

How Good is Bangalore for NRIs!

Bangalore is a great destination, the Garden City as it was called earlier has been transformed to the IT Capital of India. A study revealed that in the time between 2011 and 2015, three lakhs of Indian professional working abroad were most likely to be the NRIs returning back to India, their birth place, to help the economy recover. Bangalore was the top among the cities to recruit the most number of NRIs in the country in 2013. Bangalore has been the house of most of the start-ups in the IT sector. That’s the reason why most of the professionals working abroad have been leaving their lucrative jobs and coming back to Bangalore and starting up their new ventures. Being the Silicon Valley of India it is not at all surprising why Bengaluru is the most preferred destination by the NRIs or even the foreign nationals when they think of India. Another reason is the climate due to the location of the place which is at a height of about 1000 meters above sea level. Most of the denizens of Bangalore opine that the city offers lot of good things to stay in, like gardens, parks, open spaces, modern amenities and above all a cosmopolitan culture to bask comfortably in. Along with all these, the physical infrastructure and the social infrastructure of the place is also one of the best to be in. 

But as always there is the flip side of the coin too there are frequent traffic jams, climbing real estate prices, water and electricity scarcity and few others. The real estate prices of the land and property can be scary. The market watchers opine that the real estate prices of land plots can be anywhere between 6 lakhs and to a whooping Rs. 1 crore. But the NRIs trying to settle down in the IT Capital of India should be prepared for the odds too. Here we list few of the odds too and prior information and tips can make life much easier. We collect few tips from the experts and try to keep the NRIs settling in Bangalore informed in advance. 

Uncertainty of power and water

The people coming from abroad are not used to unpredictability, uncertainty, unorderly arrangements and surprises. This may happen and one should be prepared as there will be power cuts in the range of 4 to 6 hours on an average. There may be scarcity of water too and you may have to be cautious about the usage of water.

Traffic Congestion and entertainment

After the revolution of the IT in the area there are often traffic jams and congestion and it is advised that one has to plan in advance one hour before if there is any prior agenda or a meeting to attend.

The late night culture of Bangalore is not the same as other cities. Here the restaurants, pubs and bars have to end operation by 11:30 PM in the night on the weekdays and on the weekends the closing time should be 1 PM as per the government regulations.

Great destinations for weekends and outings

Along with the restrictions imposed on entertainment and other perspectives of life there are great destinations in and around Bangalore too that makes the city a better place for NRIs returning to India. There are places like Ooty, Mysore, Coorg, and Chikkamagaluru many other areas that can be a great weekend destination.

Real estate situation:

The real estate situation of Bangalore is very dicey with ever escalation of prices due to rapid industrialization and infrastructure changes. So if one has to invest one should see the income generation and job generation potential of the place along with the infrastructures and connectivity and then make a comparison. In that case the investment would be proper, suggest the experts. A wrong assessment can lead to blocking of capital and lesser returns on investment. Here you may want to have an ultimate cheat sheet before buying properties in Bangalore. 

The quality education facilities:

Bangalore offers you the best of education with many International schools and some of them topping the list as the best institutions of the globe. This is one of the advantages of the place. The quality of education here in Bangalore, opines the experts, are there in varying degrees. That of course varies with the money one invests on education.   

5 Amazing Tricks To Detect Fake Online Reviews

Internet or you call it online reviews sites are a commonplace nowadays and most often we check these in order to understand the real standing of a company. But most of the time I wonder how much it is reliable. Do I really want to trust the internet or the online reviews? Well, people may be doing so or may be influenced by the impression that is being created by the online reviews. But the real truth is most of it are fake and are made and written by the company’s own people or competitors either to manage or destroy their online reputation. This directly or indirectly help the company to cheat customer or to hide their truth from new prospective. Being in real estate industry I have come across many real estate builders and developers reviews written by freelancer and they are ready to write anything about the company just for few money. Now you may be really concerned about what amount of truth is really there in the online reviews of products and services.

Few days back I started digging on this matter and I was actually searching for a possible way to figure out fraud reviews. I came across many articles and studies on how to check fake online reviews? Here are some of the best possible ways

There was a research conducted recently by the research organization Mintel which found that 57 percent of the consumers that were surveyed are skeptic and doubtful about the companies that have only positive comments and reviews. Among the customers surveyed a whopping 49 percent believes that the companies might have been offering incentives for good and positive online reviews and comments about their products. The experts reveal that there are few of the techniques that reveal the truth about the fact as to whether the comments are real or phoney. We try to discuss them below.

1. Computer Algorithm invented for detecting fake reviews

Recently a team of researchers on the subject created a computer algorithm for the detection of fake reviews about hotels and hotel services. The software mainly deciphers the fake reviews from originals by differentiating the languages used in fake write ups. The programme so developed by the developers has been named Review Skeptic and is said to be accurate about 90 percent of the times. But it is found that the humans are not so good in deciphering the truth from fiction. Professor Claire Cardie who has developed the system opined that people are terrible in deciphering the fake from the real reviews on the internet. Visit Review Skeptic to detect between fake and original online customer reviews.

2. Be careful about the language used

The experts note that too much of extremes be it positive or negative should be taken with a pinch of salt. It has been noted that false reviews tend to be using more extreme language to convince readers about their message and make an imprint on the readers. So if someone writes “It is the most horrible product that I have ever used” or “it’s the best of the products that I have ever used” with probably capital letters you should be careful.  The Cornell University researchers opined that in case of travel or real estate reviews most of the reviews are more superficial which describes the overall experience without going into the details of the contours of the place like the floor, spatial details and the like. This certainly makes sense as someone who has never been to the place is expected to write the reviews in such a manner and won’t be able to describe the place accurately.

Snapshot of Online Review of a Real Estate company

As you can see in the above image 3 people have given their opinion on real estate property and out of them two are abusing them without any detail specifications on their properties detail while one person has appreciated their service and has more details.

3. Be skeptical if too much of jargon is used

The researchers on this subject cautions the readers of online reviews about the ones that uses too much of technical jargons and which reads mostly like product manuals or descriptions. This is because the laymen or the common consumers are most of the times unaware about the technical aspects of the products and too much of use of technical language signals that the reviews are fake.

A Snapshot of customer review on Mouthshot reviewing on Bike

The above snapshot is taken from mouthshot, a renowned online review site. Here the customer posted a good technical insight and has compared with the technical specifications of other bikes. Clearly posted by a person to encourage sales.

4. Check the profile of the reviewer

Reviewer Profile

The experts suggest reviewing the reviewer and the profile of the person writing the review. If it is found that the reviewer only writes reviews about that particular company there are bigger chances that the reviews are phonies and they could also have vested interest in these companies and products. Although there are certain review websites which verifies the profiles and the genuinity of the reviewers and the consumers asking details of the invoice and other proofs. Even then these comments can be fake insists the researchers as it’s easy for the insiders of the companies to obtain fake evidences.

Click on the image on your right to expand it, you will find a profile who is very active in giving reviews and has a continuous activity on different sites. It makes everything messy on his profile and looks like the person is working as a freelancer to post comments and reviews.

5. Pay more attention to detail:

The reason for what the product is bad or the writer is writing a bad review for has to specified. If the comment is too generic like “I hated Example Layouts as they are showing unspecified delays in their project completion” is too generic to believe in contrast to someone who writes “Their service is too bad and no one will entertain you after receiving money.”

The purpose of writing this blog is to make TGSLayouts customers aware on the fraud and manipulations done by online reviews sites. My intension is to create a complete authenticated site where customers can freely interact with each other and share their views with other. If you find this blog helpful do share us and don’t forget to give a feedback below.

An ultimate cheat sheet before buying land

The poor householder desires of buying a land property with many a wishes of building a house on it for spending the rest of the life peacefully. But on few occasions it turns out to be a curse. That happens because of the legal paraphernalia and few crooked developers trying to deceive the buyers by making false documents and showing that the land is free of disputes when there are flaws in the legality of the land. The common man does not know what to check and what are the most crucial documents that one needs to verify and most importantly what to check. Here is what one needs to know before buying the land property.

Things to know before buying land property

By the time you came to the end of this info-graphic your head will be storming with questions like what is a title dead; what is encumbrance certificate and so on and so forth. To make you understand better on these terms I recommend you to go through with this article "What you need to check before buying land property?"

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Mysore Road Mapping Towards Next Residential Hotspot

The connecting road of Bangalore to Mysore became the reason of Growth in properties price.

In just a matter of three or four years, apartments, houses and residential complexes have outnumbered in and around Mysore road. Even the number of planned layouts, plots and villa projects have also spawned and multiplied exponentially in the area. The activities of buying and selling in and around Mysore road have also multiplied and there is a huge demand of properties in the place.

The reasons for the flourishing of the place are many and few among them are Bangalore Mysore Industrial Corridor Project (BMIC), resorts, amusement parks, International schools, colleges, hospitals and industrial estates which are there due to which there is hectic real estate activity which seems to go on in a never ending spree in the area. This again spurts the residential influx of the place which boosts the prices at a great up-scaling momentum.

There are even greater plans of the government to develop the stretch along the Mysore road with four lane parallel roads which is being constructed which would connect the adjoining taluks including Kanakpura on the way towards Mysore. Many layouts in between Kanakpura and Mysore road are coming simultaneously for the buyer by land developers in recent time. While the plan is to develop the BMICP into a place full of Industrial Parks, IT hubs, tourism centers, residential hubs and also different eco-centers, the old Mysore road will be developed for other private initiatives which would also prosper simultaneously.

The immense growth and upcoming projects at Mysore Road are key to rise property value. 

The ongoing studies that are being conducted show that the number of apartments have multiplied four times in the area in the last three or four years starting from 2012. Statistics say that by the end of 2014 around 500 units were launched and by the end of 2015 another 700 added to the last years’ figure. This shows that there is an increasing demand of the apartments and dwelling units in the area. The growth of the plots and layouts in the area is although a bit constant but it is being noticed that the prices of the residential units are huge in demand and that too mostly in the places where there are plans of infrastructure development. That is precisely the reason the experts opine that one should enquire and know the rules of BBMP before buying land.

There are many developers constructing apartments both in the luxury segment and in the affordable segment. But many suggest buying land in and around Mysore Road. There are companies from the affordable segment also like TGS Layouts who have constructed land layouts and gated communities in the area. The company has land plots in gated communities namely TGS Padmavathi, TGS Mookambika and TGS Lakshmi which are at great locations where the company claims the growth prospects are pretty high. The rates of the company are pretty low and the claim of the company is that their prices are lower than the market rates at least by 40 percent. But at the same time the expert cautions that one should take the step after proper due diligence and enquiry about the builder by checking the existing customer feedbacks and complaints about the developer or the builder. There is no doubt that many stretches of Mysore road are in a rapid spree of development. This is especially true for the BMIC, the stretch along the four lane Mysore road and in some other places where IT hubs and offices are being constructed. The place near the NICE Road is also a place which is growing very fast due to the superb connectivity that it offers.  But the trend watchers again cautions the buyer to be careful and to judge the place, know the prospects and plans of BBMP and not to fall prey of any miscalculations buyer makes while dealing with property.
Take this virtual tour of properties at TGS Layouts in Mysore Road, you may find these property a worth to investigate as these plots in layouts are tagged as the most affordable lands for investment.

Take Home Points for Buyers

The buyers need to understand that there are few factors which are responsible for the development of Mysore road and the adjunct areas.

Not all the property get appreciated find the right property
through its rating and invest on the best one.

The prosperity and demand of Mysore road increased mainly due to factors like the proximity and connectivity to Bannerghatta Road, Kanakapura Road and few other places like even the North of Bangalore to Yeshwantpur through the Ring Road and the NICE road. But distinction should be made between, within the range of NICE Road and beyond it. Infrastructure both physical and social like the Metro, widening of the roads, etc. are also responsible for the developers to flog to the area. But one important point that one has to keep in mind is that the infrastructural development including the construction of the metro will take 4 to 5 years to be complete. Thus the market watchers caution that the buyers of the property should weigh the pros and cons of the property properly and then go for it rather than getting allured by the illusions created by the developers and the property sellers.

Private Wall of Gated Layouts Can't Obstruct the Public Amenities

Front secured gated community layout restricted from public access

In a dispute and controversy between the BBMP and the residents of the M S Ramaiah City Layout the residents of the layout are proclaiming themselves as gated communities. But the former BBMP commissioner Mr. Siddaiah who is a civic expert also states that there is no such concept existing as gated community. Often such claims are made by the land developers while selling land plots. They are just a part of the city. Such misconceptions are to be avoided by the customers while buying property. If in case the existence of  a gated community obstructs the right to movement and hinders on the safety and security of those leaving outside the gated community then those structures have to be demolished.

Residential Layouts on Hilltop
source:https://layoutsreview.wordpress.com

 But this is what the residents of the M S Ramaiah city doesn’t want to admit and the controversy has erupted subsequent to the complaint lodged by K N Sharath Babu a resident of Adityanagar nearby when he took objection to the blockage of the road and the construction of the structure on the public pathway by the M S Ramaiah City. He lodged a complaint to the BBMP and because of their inaction he complained to the Lokayukta. His complaint was that the general public was restricted from entering the BBMP Park and the road that went through the gated community.  On inspection by the team sent by BBMP it was found out that a compound wall was constructed around the limits of the layout which obstructed the movement of public to the neighboring layouts or lands. The report of the committee sent for inspection opined that the structure and the compound wall is illegal and unauthorized and they also suggested further action.

Residential gated layouts developed by private builders

After this the residents of the M S Ramaiah City appealed to the high court and the court gave a directive against them and Bangalore Metropolitan Task Force (BMTF) gave a directive to the BBMP joint commissioner to follow the court order and furnish a compliance report to its effect.  Although the action is not yet taken but the directive of the BBMP is a solace to many of the neighborhoods who are also suffering from the same problem where many developers are marketing their residential properties as private layouts.  The sales claims made by land developers proclaim that these properties are gated communities. The experts advice the customers not to be misguided by such false claims and to check the papers thoroughly and avoid such mistakes while buying properties. Apart from checking the papers and documents the prospective customers are also advised to check the reviews and feedbacks of the customers and the people residing in the area and the layouts too. In this regard the experts advice that there is a new rule of the BBMP that came up restricting the developers not to sell undeveloped lands in layouts. As per the new guidelines of the BBMP the registration of the land requires that the developer provides all the amenities and facilities as proposed. 

Evaluate the Sales Claims Made by Real Estate Developers

Builders sometimes make dubious and false claims which make the buyers feel that they are at a gain but the experts point out that these are just marketing hypes and nothing else. They doubt how much of truth these claims have. For the buyers to know the real picture we gather few of the experiences of the experts with the builders and try to caution the buyer.

Know the selling secrets of Real Estate Developer

Prices always escalates

While selling, the builders always claim that the properties never go down in value which is a wrong claim. They also claim that the rental prices of the

properties would definitely go up but that can also be a trap as there is a great difficulty in predicting the trend of rental prices. These claims that the builders make has to verified by the customers and the buyers.

Lowest prices in the area

This is another instance where the builders are witnessed to claim that this is the most

affordable or low cost apartment in the place. In that case you should compare the square area of the other flats sold in the area and not go by the total price. The maintenance and the attendant charges have also to be taken into account. This also can be a hidden way of procuring the money from the customers. 

Claim of timely delivery due to Penalty clause

The penalty clause does not insulate the builders to finish the projects in time as few of the builders tend to include this penalty clause just to avoid any

compensatory claim. But these cheques bounce many a times. The others fix a compensation upper limit as per the agreement. It is better to talk with the lawyer while agreeing to all of this.  

They persuade the customers by telling about revised rates

There is no reason why the rates of the property would go higher with the given situation and the developers being more desperate to sell than the buyers

are to buy.  This is because the builders are in requirement of liquidity more than the buyer wants a home. Selling pre-launch projects without approvals was an ideal example of this but as per the revised rule no land developer can sell their projects without developing it properly. So this kind of statement that the rates would go up and would be revised soon is just a persuasive statement for the buyer to buy the product.

 Check the sample flat properly

Remember that the sample flat is always made in a way to look bigger and even the lighting arrangement is done in a way to seem the space to be larger

than it is. There may be even wooden partition walls to make the area seem bigger. The position of the sample flat is also such which receives most of air and sunlight but your apartment may not be such in the location you are allotted your apartment.  Don't day dream for it and avoid committing any emotional mistakes while buying real estate.

Builders claim that the money paid is refundable

It is not difficult to understand that a builder so starving for liquidity won’t be able to return

the customers’ money so easily on cancellation.  Few of the developers deduct 10 percent, others deduct 20 percent and still there are few who do not return the booking amount of the customers at all.   

Better to ask for a cash discount than the freebies

The freebies are another hindrance which increases the cost as the adage goes “nothing is

free.” In these cases if the builder is tied up with any financial institution or the bank you can get a better deal by approaching the bank directly.  Instead of accepting the freebies offered by the developer one should ask for a direct cash discount.  

Builders claim that they are tied up with the banks

The builders often console and assure the customers saying that they are tied up with the financial institutions and the banks. You need to see that the project is endorsed by the bank and only then can they claim that they are tied up with the banks.

But even if the project or the developer is tied up that does not mean that you will easily get the loan. It simply means that the chances of getting the loan from that bank are more than from other banks. 

       Any way as there are developers who are manipulative in their approach, there are genuine ones too. The customers need to look at these aspects and then judge the case and know that how much of truth is there in the statements that the developer is making. Find some genuine source or online reviews for discussing on the project or the offers of developers.