Worth buying in Ozone Urbana Aqua 2? Builder and project's credibility?

Q: Hi all, just came across a buyback scheme for 3 bhk in aqua 2 in ozone urbana project, where they are offering 42 lacs on investment of 17 lacs in 2 years. I want to know about the credebility of the builder. Whether it is good to go in such buyvback scheme. He is quoting the price relatively high as 4800 psf. Please provide suggestion at earliest.

Gaurang Panchal,

3rd March 2015

Investment Advice in Ozone Urbana Township, Devanahalli, Bangalore

Follow Discussion

Also see discussions for

Bangalore Devanahalli Ozone Urbana Township Investment Advice Investment Advice in Bangalore Investment Advice in Devanahalli Investment Advice in Ozone Urbana Township

Replies (7)

Hello everyone, sorry for late updates. After ll research and as per my condition and thourough paper work by involving a property lawyer based in Bangalore, I went ahead with this lucrative buyback scheme. Although 6-7months late, but I got my 50% amount back in jan-2018. Waiting for the other 50% still. Out of that 25%, I should be getting by tomorrow as they sent scanned copy of cheques. So, good thing is they are paying back. I didnt need sue them. Hope they settle the whole amount soon and also they close the reminer of the loan amount. Please note that still they are paying loan emi, although its more than 2.5 yrs now. So, in a way they have kept their commitments.

Gaurang Panchal,

9th July 2018

Comment

This is a super fraud company and their CEO and MD need to go to jail.
Their Devanhalli project is incomplete. There is just one school which has 5 students per class and the fee is 1.50L per year.
The complexes are incomplete and there is no sign of the shopping complex, hospital and office complex along with the movie hall.
Even the buildings that they are advertising as complete are semi complete.
the quality of construction is pathetic.
This builder has political contacts in Karnataka and that is why is is free but soon he will be inside the jail as he would get caught in other jurisdictions.
This company and its MD was also involved in a corruption scandal involving a football club or stadium that he built in Bangalore. That issue also got brushed under the carpet.

ozone is fraud,

27th April 2018

Comment

Hi Gaurav, Please let me know whether you invested or not..? I Have come across a similiar scheme wherein they are promising to give double the money in 2 years..

Thanks and Regards,
Sachin Bansal

Sachin Bansal,

13th June 2016

Comment

Hi Sachin and Gaurang

I'm also keen to know about the scheme. Sounds too good to be true. Have you actually had any experience that you can knidly share - the buy back scheme with Ozone

anjum, Bangalore

27th July 2016

I really want to know if Devanahalli good for investment purpose. Looking for feedback about the locality

Manjula Rao, Bangalore

19th April 2016

Comment

The region is developing fast due to IT-BT and Industrial boom which is currently in great demand and is expected to grow rapidly in the near future. Properties in Devanahalli have witnessed a record increase in demand mainly due to the presence of the Bangalore International Airport and excellent connectivity. Anyways investing in North Bangalore will fetch you good returns

Manjunath, Bangalore

19th April 2016

What are the types of configuration available in Ozone Urbana Aqua 2 and how much is the price going on? Also share when it is getting completed and the area of the apartments.

Manjula Rao, Bangalore

19th April 2016

Comment

The project offers 3 and 4 bhk apartments with size ranging from 1529 sqft to 2093 sqft. The project is expected to get completed by June 2017 and the price of the apartment starts from Rs 78.59 lakhs on wards.

Manjunath, Bangalore

19th April 2016

The offers seems to be good but before entering into any kind of agreement consult a legal expert and cross check all the legal documents.

Mriganka Sharma, Bangalore

3rd March 2015

Comment

Township projects needs more time to develop and the appreciation would be slower initially. Once there is development visibility, the appreciation is much faster. Since the project is in a more strategic location and an integrated development is being planned, the investor is bound to have very long term benefits.

Janak Desai, Bangalore

3rd March 2015

Comment