In my hunt for flats/apartment units in the last few weeks/months, I have collated a small list of the top developers operating in the Bangalore real estate space.
Some of the top developers at Bangalore are:
1. Purvankara developers – http://www.puravankara.com/
(All over Bangalore, they have projects in all the 4 corners of Bangalore city)
2. Mantri developers – http://mantri.info/
(All over Bangalore, they have projects in all the 4 corners of Bangalore city)
3. Sterling developers – http://www.sterlingdevelopers.com/
(All over Bangalore)
4. Akme developers – http://www.akmeprojects.com/abt_us.asp
(A majority of their projects are in the Bangalore East (outer ring road)
5. Sobha developers – http://www.sobhadevelopers.com/
(they have projects on Bangalore North and Bangalore East)
6. Tata housing – http://www.tatahousing.com/sherwood.htm
(projects in Bangalore East)
7. Brigade developers – http://www.brigadegroup.com/
(projects in Bangalore East and West)
8. Prestige developers – http://www.prestigeconstructions.com/
(Projects in Bangalore central)
As you can see it is a competitive oligopoly of sorts since the Bangalore real estate market is split into the top end builders dominating contructions (and most of the upper middle class projects/purchases) followed by the Tier 2 and Tier 3 or Class B and Class C type builders.
The pricing advantage for above developers is a given – since they have a clean record – on time delivery, no hassles with the land etc., complexes that are self sustained etc.
On the other hand you have Class C and Class D builders who don’t have the same reputation or brand name to match the above top players and therefore suffer from price positioning disadvantages, land hassles (ex: approach roads etc.), lack of advanced civic ameneties that the top players can provide.
The premium charged by the top developers is a given. Today’s prices as mentioned on previous posts run into about Rs. 2500 per sq. ft. (average) in extreme Bangalore South (Kanakapura road), Rs. 3500 per sq. ft. (average) whereabouts in Bangalore North (Hebbal/HRBR layout/Yelahanka/Devanahalli road), Rs. 2500 per sq. ft. (average) Bangalore West, Rs. 3500 per sq. ft. average Bangalore East (Whitefield area/outer ring road).
I believe a lot of the IT sector employees in Bangalore get blinded by Real Estate without knowing basics and make a mess of the real estate market with respect to supply and demand. They are largely responsible for this gap in supply and demand characteristics that exist today which is a complete mis-match – in my opinion.
People should know how to ask the right questions and get the right answers. Most Sales people are not even trained to handle the most basic questions – why would this be the case? Reason: 90% of the people don’t ask such questions. They act like the developers are doing a favor on them by selling a flat to them – this mentality causes topmost developers to act complacent which is a sure shot recipe for disaster in the long run if they are to continue in their business.
Customer-centric approach is the basic – customer is always the king. If people cannot realize that, they ought not to stay in business.
[...] http://ecofin.wordpress.com/2007/05/27/a-note-on-the-top-developers-at-bangalore/ [...]
Good finding and posting, Mr Tycoon-to-be !
Best wishes,
Manohar
hi Manohar,
thanks for ur data…
have u heard of Best Constructions? how would you rate them? are they popular?
thanks
mike
Best Constructions did you say? Correct yourself
sir they are pure Pests so their name should have
been Pest Constructions. Stay away from them….
I am very happy to find such a nice article on the current situation of Real Estate in Bangalore. You gave the list of A grade builders who are charging alomost 100% more. At the same time do you know any B grade builders who may not charge this much, may be 50% more. Any little info will be well appreciated.
By the way I am 100% with you in that “the time is yet to come to invest in Real Estate”.
Thanks in advance & best regards,
Shabid Ali
Oh my god! Read this about Puravankara Projects at Mouthshut Website. I bet you will neverthink of Puravanakara again!
http://www.mouthshut.com/review/Puravankara_Builders-123106-1.html
[...] http://ecofin.wordpress.com/2007/05/27/a-note-on-the-top-developers-at-bangalore [...]
NRI’s BEWARE of KEERTHI ESTATES (BANGALORE)
KEERTHI ESTATES – A REVIEW (SAD, But TRUE)
——————————————–
Keerthi engages in broad daylight frauds; some of the customers of Keerthi Annexe and Keerthi Flora projects have been duped of several lacs (yes, Lacs) of rupees by Keerthi’s own marketing team; that too, right inside their marketing office, in the presence of other Keerthi fellows.
The marketing person has fled the scene; his name is Niranjan. Now the customers, sensing foul play, decided to cancel the flat bookings. And now comes the MD of the company; his name is Anil Kumar Reddy; the most ill-mannered bastard you would ever come across. He openly refuses to admit the fault is his and then accuses the customers for the loss. For months he harassed the customers by avoiding to meet them; uses foul language against them. Several customers are waiting for nearly 10 months now to recover their stolen money.
Unofficial sources informed that the theif ran away with Keerthi’s money too; something in the range of 20 lacs. Now Keerthi would try to minimize the loss by duping other customers of their future projects; of course, without letting them know that they have been duped.
So, guys, beware of this builder. If a builder can engage in frauds in broad daylight, in the presence of many others, you can imagine what they would be capable of doing. NRIs especially beware; you wont even realize that you have been cheated. I didnt want to write about their construction quality in this blog; that is a sad story in itself justifying a full entry. Maybe some other time.
Hope this story would help you decide among the B-tier builders.
I would try to contact one of the direct victims and write an update in future; incidentally, he happens to be a friend of mine.
Regards,
RPS
Rentals are going high due to software industry. Just see this article:
http://www.talkbangalore.com/forum/viewtopic.php?t=126
Keerthi Estates and Anil Reddy – You Suck!
Have some consideration for people who earn money the hard way and pay taxes regularly; i am sure the victims are all from IT segment.
Unlike you who make black money. I can go about telling how you try to siphon black money into your account. But some other time…
Its time your kids and family knew that the gifts you purchase for them are from the hard earned money of IT professionals who you cheat regularly…..
Shame on you, rascal
Buy or sell properties in Bangalore easily through us.
Trusted and leading real estate agency in Bangalore.
hhai guys any opinion on the builder venkatesh – greens on the kr puram road …….
WHERE TO FILE COMPLAINTS AGAINST CORRUPT AND CHEAT DEVELOPERS ??? IS THERE ANY FORUM WHICH CAN ACT POSITIVELY AGAINST CHEATING CASES ??
ONE REAL EXAPMPLE IS CHEATING BY SIRI DEVELOPERS WHO TOOK MONEY TELLING 100% REFUNDABLE TOKEN AMOUNT. WHEN THE DEAL DIDN’T HAPPEN, THEY SIMPLY REFUSE TO PAY BACK.
THERE SHOULD BE A BODY FOR SALARIED PROFESSIONALS. THEY ARE LOOTED ALMOST AT EACH GO BY SUCH BIG FISH. ITS HARD EARNED MONEY AND IF CHEATED, STINGS. MOST REAL ESTATE/ DEVELOPERS ARE ILLITERATE/CRIMINAL BACKGROUND. THEY ARE SIMPLY BULLYING THE SEEMINGLY HELPLESS SALARIED PROFESSIONLS.
Beware of Siri properties
Beware of Siri properties
HI,
Any one know about http://www.escondevelopers.com, Land developer in bangalore. I have taken land from him one year back, still he is saying he did not got BMRD approval for surya enclaves in chanda pure circle.
I am not understanding what to do with him
I am yet another flatowner at “Keerthi Royale”. The few things royal about this place are dishonesty, quality, integrity and commitment. We purchased two flats from these cheats in May 2006. They had promised that the property will be completed by Dec 2006. It is now May 2008 and the work has actually stopped, and there is so much remaining to be done.
It is a shame that these people take money from salaried employees like us and cheat us. I wonder what kind of twisted happiness they derive from this.
I wonder why all the flat owners should not launch legal action against these scoundrels. If we get compensated, we can at least get someone competent to finish the property.
I hope the family members of Keerthi builders read these postings and realize that they live with swines. I was a little hopeful that someone has had some success with these people. It is sad that I am joining a long line of people like me who are screaming on deaf ears.
HI ,
Guys take help from this organization http://www.icrpc.org/.
Cheers.
Satish
This is life. Be Brave and fight for life
What about the BILDEN properties in Bangalore???
And also is there any complaints on this builder who constructed Bilden’s Paradise, Bilden’s Mansion, Bilden’s residency, Bilden’s Manor etc., in Bangalore???
There is an extremely filthy company named CMRS constructions based in banagalore.(http://cmrsgroup.com) I dont know how many times they have changes their name. It was earlier Dreams constructions ( existing only in dreams !!!). It is managed by a filthy fraudster named Chennam Rangaswamy. He keeps on changing his stations every month if not sooner. So pls pls pls beware
Any body can tell me what would be the apprx rate/sqft near Udupi gardens BTM layout for an Apartment? Your help is much appreciated.
Sterling Developers is blacklisted.
http://sterlingshalom.blogspot.com
Hi ,
Has any one come accross http://www.buildmann.com?
Their current project is Sunnyvale and we are planning to purchase an apartment from them.
Any commends or recomendations will be highly appriciated.
Thanks
Venkat.
Hi,
I want to buy a plot from JR Housing near electronic city. Please guys.. any feed back on the developer.