MS Ramaiah Green City Nelamangala

[pradyehv]

Hello All,
Any feedback on MS Ramaiah Green City Layout in Nelamangala?

[smvdvs]

Today only I saw the ad in newspapers, do u know abt the prices ? I guess it should not be more than RS 700 to 800 psft if its approved and bank loan available,
I have seen some sites in NNT township(fully developed) in Nelamangla last year and the prices were RS 900 to 950, thought more and didnot go for it.

[prasadbgm]

Just checked up the price and location..
Rs 810/- till 15 Aug 2011. Need to pay advance of 2 lakh for 30*40 & 4 lakh for 40*60 site for booking.

[ravisrm]

How is the location? Does anyone have the location map? The person on phone said the price would be Rs840/- from 15th August. Also, he said the registration can be done after 5 months though the approvals are there. I feel it is still under approval and they expect the approvals to come in 5 months.

[Sachin123]

can you share the contact number of the MS ramiah sales person you spoke to ?

[pradyehv]

Visited the site today. It is 15 minute drive from Yeshwantpur via the toll road (approx 17-18km).

The site itself is <2 km from the kunigal bypass. 5+ km from the site, NICE road meets.

Area seems to be well connected. Road from bypass to the site is being developed into a 80 ft road as per MSR guys.
Seems true as lot of unauthorized buildings on the side of the road are being demolished.

MSR guys claim approval from BMRDA and NPA.
However it seems registrations will happen only 5 months after booking.

Part of the layout is fully developed and work is going on for the rest.

Any one else who made a site visit please share your experience

[ravisrm]

http://msramaiahdevelopers.com/index_MSR.html
Phone: 080-41245426,41245427

pradyehv: How much time do you think it will take for the place to becomes residential ? Is there any strong reason why people would like to reside in Neelmangla (proximity to govt office, IT park etc).

[pradyehv]

ravisrm: with my limited knowledge of real estate, 4 - 5 years.
Saw 2 layouts adjacent to MSR which are fully developed and ready for construction. However no sign of construction yet.

According to MSR guys, the nelamangala - dodballapur highway will immensely benefit this area.

As far as I inquired, there is no IT park planned anywhere near.

Following are the reasons Why I am considering the investment

a) Development of yeshwantpur - metro
b) Sobha already has 2 projects Elite and Aspire en route
c) proximity to dobaspet industrial belt (20km)
d) extremely well planned 6 lane highway

[ravisrm]

Thanks pradyehv for the reply.
From what I understand, majority of the people are buying as an investment and so it would take quite some time for the Neelmangla to become a residential locality. I am not sure whether the industrial belt would trigger people to start living there. Peenya is an example. Proximity to Metro is surely a trigger. In summary, if one has a sufficiently long investment horizon then one can consider buying. With an imminent dip in real estate prices looming large, my preference would be for a location which becomes residential in a shorter time span.

[smvdvs]

Its standard time of 5 to 6 months for approval that all the builders claim, but in my personal experience the approval period will definitely goes 1 to 1.5 yrs,
when I checked behind chandu dhabha by NNT they told me that approval will take five months, but took longer than this, if u decided to buy this, just prepare urself that u need to wait for atleast one year for registration and also without approval prices should not be RS800.