Based on my bad experience dealing with Shriram Hebbal 1
As on 12th March 2023 the commercial project is about to be launched and this review will help you ask the right questions
1) What are the charges that Shriram will levy after 5 years
Note: The answer was not given. The higher the AMC/ other charges, lower the return to the investors/ owners
2) Owners have to mandatorily lease the property to Shriram Properties for 25 years and they have the complete power to charge as they deem fit
Note: Lessor and Lessee can come to an agreement that need not be beneficial to investors(actual owners) hence lowering the return
3) The current commercial property price for an A-grade property in Manyata Tech park is around 100 - 150 per sq/ feet in Q1 of 2023 but Shriram gives only 72 Rs per sq/ feet for 2.5 years from the year 2026 which is a daylight robbery. And payment holiday to investors for 6 months is adding fuel to the fire
4) This property was launched for residential purposes in 2016/ 2017 as Hebbal One Residential and in Mar 2023(while writing this post) they launched a commercial property. We don't know the status of people whose dreams were shattered believing that they would be living in Hebbal One
5) Staff would save not to trust the online reviews but it's your hard-earned money that needs to be protected so ask the right questions and don't fall for returns that are mentioned in marketing materials.
P.S. While I asked many relevant questions, the sales staff told me not to buy the project.
- Thank You! We appreciate your effort.
