VERY VERY ATTRACTIVE PRICE IN THIS LOCATION; APPEARS TO BE RISKY FINANCIALLY
The Project Site is located on Neo Town Road, opposite Neo Mall*, Electronic City Phase 1, Bangalore, Karnataka, India. The Project Site is accessible through an 80ft wide Neo Town road, which runs parallel to the West boundary of the Property. GM Infinite’s E-City Town project shares East & South boundaries with the Property.
*Note: The construction of Neo Mall has been stopped for a long time now. Its developer Patel Realty, which owns the entire 120 acre+ Neo Town Township, has suspended further developments in Neo Town including the mall. Patel Realty has sold a large tract of undeveloped lands in Neo Town to several other builders. GM Infinite bought around 27 acres which is being developed as Global Techies Town.
|Type of Project||Residential|
|Developer Name||GM Infinite|
|Project Location||Opposite Neo Mall (under construction), Neo Town Road, Electronic City Phase 1, Bangalore|
|Land Area||27 acres|
|No of Units||4256|
|No of Towers / Blocks||3 Towers / 15 Blocks|
|Units Configuration||2 BHK - 900, 1025 & 1150 sq. ft.|
3 BHK - 1500 & 1550 sq. ft.
|No of Floors||G+31|
|Completion Timeline||Dec’20 onwards|
Price Rating: BETTER THAN MOST
We have benchmarked Global Techies Town against apartments in Electronic City Phase 1. We found the Current Price of Global Techies Town “Very Less” (unbelievable to be precise) compared to other apartment projects in the same micro-market. The project also offers significantly higher number of amenities compared to other projects.
|Project Name||Developer Name||Location||Units Sizes||Price||Expected Completion|
|Global Techies Town||GM Infinite||Neo Town Road||900 – 1550||2650||Dec’20|
|Prestige Sunrise Park||Prestige Estates||Neo Town Road||631 - 1647||4700||Sep’17|
|Shriram Summit||Shriram Properties||Gollahalli Electronic City Road||720 – 1595||4650||Dec’17|
|Aratt Requizza||Aratt Builders||Gollahalli Road, off Neo Town Road||1395 - 1731||4200||Completed|
|MJR Clique||MJR Group||Gollahalli Road, off Neo Town Road||690 – 1570||4200||Dec’17|
|GM E-City Town Ph2||GM Infinite||Behind Global Techies Town, off Neo Town Road||1025 - 1500||4500||June’19|
*The quoted price is base price of the unit and does not include car parking, floor rise, club house, deposits & taxes.
NOTE: Price last updated on FEBRUARY 17, 2017.
Location Rating: ABOUT AVERAGE
Global Techies Town is located on Neo Town Road, opposite Neo Town Mall (under-construction), Electronic City Phase 1, Bangalore. The immediate neighbourhood is Neo Town which has few high-rise projects from Patel Realty but very limited social infrastructure such as retail shops, clinics and schools. Projects in Electronic City are good for people working in & around Electronic City.
DMart, which is the only large retail format store in Electronic City, is 4 Km from the Property. There is no operational mall in Electronic City and hence residents who wish to shop have to travel to Koramangala (which is less than 30 mins drive due to elevated flyover) or Bannerghatta Main Road.
|Immediate neighbourhood |
Has few high-rise apartments with very limited social infrastructure such as retail shops.
|Landmarks nearby |
Opposite Neo Mall (which is now unfinished) on Neo Town Road.
|Access Roads |
Directly accessible from 80ft Neo Town Road. Neeladri Road is 3 Km and Electronic City Elevated Flyover is 3.4 Km away from the Property.
|Metro Rail |
|Train Stations |
Bangalore City Railway Station (24 Km); KR Puram Railway Station (27 Km); Yeshwanthpur Railway Station (38 Km )
Kempegowda International Airport is 55 Kms away.
Builder Rating: ABOUT AVERAGE
GM Infinite was a construction and contracting firm before venturing into its own branded real estate development. It has constructed several Hospitality, Residential, Commercial and Educational buildings for third parties as a contractor.
GM Infinite launched its first project “GM Daffodils” under its own brand “GM” in 2009. GM stands for Gulam Mustafa, which is the name of the promoter of this company. It has so far completed two residential projects under its own brand – GM Daffodils and GM Ecity Town, which was a big success because of its aggressive pricing.
|Builder Name||GM Infinite|
|Flagship Company Name||G M Infinite Dwelling (India) Private Limited|
|Address||No 6, GM Pearl, BTM Layout 1st Stage, Near Silk Board, Outer Ring Road, Bangalore|
|Year of Establishment||2007|
|Managing Director||Gulam Mustafa|
|No. of Projects Completed||3|
|Popular Projects||GM E-City Town|
Construction Quality Rating: ABOUT AVERAGE
We found “Average” Quality of Construction in its completed projects. The construction in all its Projects are done in-house as the company in its previous avatar was a construction & contracting company.
|Construction Contractor||In-house by GM Infinite|
|Architect||In-house by GM Infinite|
|Specifications||Standard specifications such as Vitrified tiles in all rooms, kitchen & dinning room, Sanitary & CF Fittings of Cera or equivalent, UPVC windows, Hardwood door frames in bedrooms & main door.|
|Expected Completion||Dec’20 onwards|
AMENITIES & LIFESTYLE
|HEALTH & FITNESS||GREEN ENVIRONMENT||LIFESTYLE & DESIGN||X - FACTOR|
|Clubhouse with Gym.|
Tennis & Badminton Courts.
Table Tennis & Other Indoor Games.
Half Basketball Court.
Kids Play Area.
Cricket Practice Pitch.
Mini Soccer Field.
|Several Outdoor Themed Landscaped Gardens.|
Sewage Treatment Plant.
Rain Water Harvesting.
|Multi-purpose Hall. |
Spa with Steam & Sauna.
Senior Citizen Corner.
|100 different types of amenities.|
Golf Putting Range.
No Common wall between any two apartments.
80% Green Open Space.
The Current Selling Price of Global Techies Town is just Rs. 2650/- per sq ft. We believe the cost of construction (without including cost of land) for a 31 storeyed project itself would be equal or more than the offer price. Also a high-rise project leads to cash flow issues for the builder if sales are slow. This is because collection of sold units will be linked to construction of slabs, which in this case will be over a period of at least 4 years.
This is the largest project ever taken by the builder in its history. We foresee significant challenges in the execution of this project unless the builder quickly ramps up its management team, execute the project on time & focusses on sales & collection.
Buyers have to bear in mind that any period of poor sales may lead to cash flow problem for the builder and hence project delay. In such scenario quality of project might suffer as well.