About Sobha Palladian

Sobha Palladianis a super luxury residential project, located at Yemlur, Old Airport Road.This project is spread across 5.25acres of land and consists of 179 luxury 3BHK and 4BHK units ranging from 1901sft to 3298sft.

Project Analysis ofSobha Palladian

  • Approvals status: BDA and BBMP Approved
  • Demand analysis:The demand will be good due to the presence of excellent social infrastructure and its proximity to several IT parks like RMZ Ecospace, HAL, Bagmane Tech park, Cisco, Cessna Business Park, Prestige Tech Park, Embassy Tech Village, Salarpuria Hallmark, etc.
  • Amenities: The project will feature all high end amenities which includeMultipurpose hall, Gymnasium, Table Tennis, Foosball, Pool table, Squash Court
  • Indoor Badminton, Reading lounge, Swimming pool, Lawn Tennis, Children's play area, Jogging track, Water bodies with fountain, Tree Court, etc
  • Layout analysis: The layout is quite congested and lacks open space inside the project
  • Any drawbacks: Traffic congestion is a major drawback near the project
  • Special attractions of this project (USP): The main USP of the project is its location and proximity to several IT Parks and companies

Payment Details of Sobha Palladian

  • Booking Amount: Rs.10,00000
  • Payable within 30 days of from booking date(less booking amount): 50%
  • Payable by 31st March: 10%
  • Payable by 30th June: 10%
  • Payable by 30th September: 10%
  • Payable by 31st December: 10%
  • Payable by 28th February 10%
  • Payable by 31st March: 10%

Additional Charges:

  • Bescom charges: Rs. 16 per sft
  • BWSSB Charges: Rs. 46 per sft
  • Service charges: Rs. 200000
  • Maintenance deposit :Rs.600000

All the additional charges towards car parking, Generator charges, Khatha & Assessment Charges legal, VAT & service tax etc are payable as applicable

Note: The project has approximately 34 units per acre, which indicates low density of units and more space inside the project

Price Comparison With Nearby Projects

  • The locality has few ongoing residential and completed projects which includes Mnatri Epsana,Orchid Lakeview, Sobha Palladian, Epsilon Residential houses, Rohan Jharoka I &II, Ittina Anai,etc
  • Sobha Palladian can be compared with the other luxury projects such as Divyasree 77 place, Jain East parade, Mantri Espana, Sterling Ascentia, etc
  • Jain East Parade is a luxury project, located in CV Raman nagar and priced at Rs.6100 per sft.This project is not a direct comparable to Sobha Palladian
  • Divyasree 77 is a 72 acre Town Center project located near to Sobha Palladian and priced at Rs.8500 per sft.This Town Center project will have 912luxury apartments, 89 villas, 51 Duplexes, Commercial spaces
  • Other comparable projects are Mantri Espania and Sterling Ascentia are located near outer ring road are priced at Rs 7990 and Rs.5900 per sft respectively
  • Sobha Marvella is another luxury project located in Bellandur and priced at Rs. 6408 per sft
  • The project pricing appears to be high considering the location and its proximity to several IT parks and shopping destinations.

Neighborhood Overview:

  • Sobha Pallidian is located on Yemalur Road, Facing towards HAL Aerodrome, Old Airport road
  • On the Western side, one can find Enzo International Hotel and few commercial developments
  • On the Eastern side, projects like Sobha Garnet, Iblur Park and Iblur lake are located
  • On the Northern side, few small apartments and individual houses are located
  • On the Southern side, one can find Outer Ring Road and a service road connecting to Sarjapur Main Road. Several residential apartment projects and few luxury hotels can be found after the outer ring road
  • The locality is well developed in terms of its social and commercial Infrastructure.

Appreciation Potential

  • Bren paddington is located off sarjapur Road, with a close proximity to Outer Ring Road (ORR)
  • The locality near the project has seen well established social infrastructure withpresence of restaurants, schools and malls in close proximity. The area also enjoys good connectivity to IT Triangle (E-City, Whitefield and ORR)
  • The project is expected to show a moderate appreciation in the coming years, considering the demand and developments in the locality and nearing possession
  • Many top tier residential projects are being developed in the vicinity,inturn there is a scope for commercial developments. Andupon completion of the nearby projects Bren Paddington may see some appreciation
  • The project is near to proposed Peripheral Ring Road (PRR) isexpected to be completed by the end of 2017. This may positively impact the future appreciation potential

We can expect moderate appreciation at the time of possession in mid 2016. After that low to moderate appreciation can be expected from the project

  • The locality is already well developed in terms of it social infrastructure, so in future the locality appreciation will be low to moderate. But we can expect some positive impact due to the road widening along Balegere Road, Varthur-Gunjur Road which are expected to start in the near future
  • To sum up this project would be suitable for end-users and investors looking for moderate appreciation
  • At the current pricing, theproject is good for end users and long term investors with an exit option before 2019.
  • The prices would have saturated by 2019 and the scope for good appreciation would be less so long term investors could exit before this time. Some SEZs in the area will loose their tax benefit status in 2019, this would free up more land for residential projects and so there will be newer projects coming up in 2019 and demand for older properties will start to decline
  • As the prices have increased significantly since pre launch, the project appreciation until completion would be around 8-10% and upon completion an appreciation of around 10-14% can be expected YoY up to 3-4 years of completion

Existing Infrastructure

  • The project locality is well connected with Marathahalli, Sarjapur,Old airport Road HAL, Whitefield, CV Raman Nagar and surrounding areas.
  • The locality is well developed and enjoys good connectivity to several IT Parks and companies in Whitefield and Outer Ring Road which includes Cessna Business Park, ITPL,Divyasree Techno polis,Prestige Tech Park, Bagmane Tech park, HAL, RMZ Ecospace, Salarpuria Hallmark, Embassy Tech Village, Cisco, Intel, etc.
  • The project has excellent social infrastructure due to the presence ofseveral Malls like Central Mall, Brand factory, Total Mall ,FBB ,More Mega store, and Individual retail outlets
  • The project has good approach road and is accessible via public transport as the project is located few meters away from the main road

Rental Income

  • Expect good rental for this project due to its proximity to several IT Parks and entertainment facilites in the surrounding. Around the time of possession, the anticipated rent for a 3BHK apartment will be in the range of Rs.35000 to Rs.40000 per month.

Market Liquidity

  • Proximity to several IT parks and Marthahalli - Sarjapur Outer Ring Road and Old Airport road will continue to drive the demand for this project. We can expect good market liquidity for the project at the time of possession

Project Risks

  • Traffic congestion is a major problem near the project
  • The project layout seems too congested as the whole project is spread across 2 acres land and will have 90 units per acre

Builder Risks

  • The builder has completed several commercial projects in Bangalore, But they do nothave manycompleted residential project to evaluate their construction quality, customer satisfaction and on time delivery
  • RMZ Galleria project was delayed for several months, which is a concern

Builder Description:

  • RMZ Homesbelongs to the RMZ Group of companies, one of the leading players in the commercial real estate segment in Bangalore. Beginning in 2002, the group’s activities are concentrated on the commercial property (office) segment largely in Bangalore.
  • In 2011 RMZ Corp start their residential project under the name of RMZ Homes. RMZ Galleria being the first homes project with approximately 5mn sft of development
  • The construction quality and quality of standards for commercial projects are good
  • RMZ Group has completed projects in Bangalore,Pune, Kolkata, Chennai and Hyderabad, etc and its business mainly focuses on commercial Tech Parks. Few well known Commercial offices of RMZ Corp are RMZ Ecospace, RMZ Infinity, RMZ Millennia and RMZ Ecoworld etc
  • In Bangalore RMZ Homes has 3 ongoing projects named as RM Z Galleria, RMZ Sawaan ,RMZ Latitude located in Yelahanka and Hebbal respectively.
  • RMZ Marq is a pre launch luxury project located in Iblur junction, outer ring road
  • RMZ Corp has completed construction of over 18 million square feet of spaces in diversified fields such as commercial developments, retail, software parksand 11.4 million square feet of homes are planned to complete by 2018