ArjunHi Pankaj, the average per sq ft rate of properties in Uttarahalli locality is Rs. 3,200 - 4,000/sq. ft. Although, capital rates have been stable here for the last 1 year, however, as per the 99acres Insite report, capital rates for this locality have seen upsurge of 2% in Q4 2018. There is a proposed four-lane National Highway 209, which will pass through Uttarahalli and provide seamless connectivity to Tamil Nadu. Further, the widening of Kanakapura Road between NICE Road and Horahalli will also be a game changer for the area. So, location could be an advantageous factor for The Infiniti. The demand for the under-construction sector is expected to improve in the coming months due to GST reduction. So, I think, you can invest in this project. However, this is a joint venture of Ambiant Group and InetSolv Infra and both of these developers are not very well known in the real estate market. So, you should first seek advice of an experienced property expert.
KamalHi Pulkit, yes, The Infiniti by Ambiant Associates has been approved under Karnataka RERA. Its registration number is PRM/KA/RERA/1251/ 310/PR/180516/001713.
I have checked details of The Infiniti online, and the builder has offered a special payment plan [10:90] which is also known as subvention scheme which is aimed to provide convenience to the property buyers who are willing to avail the home-loan facility. 3 parties are involved in this scheme: the buyer, the bank, and the builder. Involved parties undergo an agreement wherein the buyer agrees to pay an initial booking amount or the down payment [which is a fraction of the total amount]. The bank agrees to pay the remaining balance to the builder [as a home loan], and the builder agrees to pay interest on the buyers home loan till the buyer receives possession or as per terms mentioned in their agreement. Banks release the payments to the developer according to the construction schedule.
Although the scheme is aimed at reducing the burden on the buyer, there are some risks involved:
- If the developer fails to pay the interest to the bank on time, it may severely impact credit score of the homebuyer, and if credit score is lowered, then it may be difficult to avail a loan in future.
- Developers add the interest to the amount of the property which they pay to the bank. So, the actual cost for the property increases which may put a financial burden to the buyer.
-Also, the buyer is expected to start paying EMIs after the subvention period is over, even if he/she has not yet received the possession of the property. In such a scenario, the customer faces the risk of overpaying or, in some cases, there might be risk pertaining to the delivery of the property.
Hemant GaurHi Saif, according to the inputs received from existing residents, there are problems such as water leakage at several points of society inclusive of parking area, and some of the residents in the society has raised concerns related to poor construction quality. Along with that, it has been noticed that there is no separate service lift for garbage collection. The surroundings are filled with too much dust because of ongoing construction. Even, the condition of bus and availability of other public transport services is really pathetic. The private cabs and autos are not willing to go towards the society as it is located too inside and approach road is in bad condition which creates terrible situation during the rainy season
RajdeepHi Anjana, Uttarahalli is a well-developed locality of Bangalore South, and the residents enjoy a wide range of civic utilities such as school, hospitals, banks and local markets. Bangalore International Public School, Maharaja Agrasen Hospital, Gopalan Promenade Mall, Star Market, Canara Bank, etc. are some of the popular social amenities present within the neighbourhood of this project. Metro connectivity via JP Nagar and Bnashankari has strengthened the overall connectivity quotient of Uttarahalli region. Both of these metro stations are within 5 km from this society.
PulkitHi Gagan, The Infiniti is only a single phase project. The project comprises 4 towers with 11 floors, and a total of 174 units. It is an under-construction project, and the possession is anticipated by Dec 2020. 2 and 3 bhk units are available in The Infiniti for which the price ranges from Rs 72 lakh to Rs 97 lakh and the unit area ranges between 1,300 sq. ft. and 1,850 sq. ft. Also, apart from these rates, there will be some other charges such as [complete this sentence and include stamp duty, registration, maintenance charges etc.].
The Infiniti promises to offer facilities such as swimming pool, gym, clubhouse, indoor and outdoor games, landscaped garden, kids play area, etc.
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