Q: Hi, GM infinity is comming up with a new project GM ecity. it is in its pre launch stage and according to the sales guy the current price for the project is 2250 and it will increase to 3250/- after lauch? this seems quite tempting. does anyone has any idea about the builder?
Consider this. I have seen this apartment, price is good.
But since I work in pollution control board, I took sample of water in this area and get it tested in our lab. I found it highly toxic with high degree of organic and non-organic solvents. I found insecticide, herbicide, lots of organohalides and other chemical compounds like polychlorinated biphenyl, trichloroethylene, perchlorate apart from "very-very" high level of lead, arsenic, mercury, copper and cadmium. The levels are so high that one can get kidney, liver, central nervous system, bone, teeth and many other life threatening diseases.
This place is also "very-very" high on air pollutants including SO2, NO2, RSPM. Most importantly this place is extremely high on NMVOCs benzene, xylene, toluene and 1,3-butadiene. Most of these carcinogens (leading to cancer, even leukemia) with prolonged exposure.
Source of these pollutants are the toxic wastes and industrial waste from the industries that are within 500 m
For the time being cauvery water is not there but there are bore-well in this project which is sufficient for all the apartments.
Electronic City is a better option for investment and you can also except good returns in the coming future because of the PRR project. You can also get good returns as some may offices are there. The region is well developed and has many reputed IT companies, industries and residential spaces. It also has some of the reputed educational institutions and hospitals to give better facility to the residents.
Though am not good at negotiating I tried negotiating, but they were very firm on the price. So, do try. However, there's referral scheme in which u will get 0.25 % of the total cost. (I know, it is very less compared to other builders. but they said, they can afford to give only this much) Base price is 2250/-. However, I bought a corner facing for which 100/- extra. So, I got it for 2350/- psft.
I booked an apartment here. Found the location to be good, good floor plans and visited their HSR layout project (Sabha Pearl) to check the quality of construction. It was good. I also spoke to GM Infinity. He gave me brief background about the company and explained why the price is less now. He also said that they would soon increase the price. Yes, there's still risk on the builder reputation which I am ok with. And another note, it is a joint venture project. GM Infinite will do the construction.
Everything looks attractive in this project except builder's credibility! GM seems to be not that good in executing big projects. The project Spring Field was launched in 2011. Also I heard that they usually take 5-6 years for delivery (that too for a small project)! I would like to know if any of you know more details. I would like to join the group if group buying helps us in getting any discount! Before finalizing the booking, do proper due diligence; we should not end in a scenario where we will be paying huge EMIs with out actually getting the possession of flat.
How they can afford to give at 2250/- when the construction cost is so high. I talked with the builder and according to them they are waiting for the BDA approval. However, they haven't done any big projects like this in Bangalore.Only one project which is under construction is Silver Springfield in Yelahanka. Anybody have seen this project at-least?