Huge demand for quality budget homes

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All but a few of the 1600 2 BHK (856 sq ft.) apartments priced at a basic price of Rs 14 lakh have been snapped up in under six weeks of the launch, say the promoters, Prakaash Kumar Singh and Deepakk Kumar.

And for very good reasons too. Generally budget apartments around this price are available only in Bangalore's outskirts that are very poorly connected. ‘Sovereign Unnathi’, on the other hand, is bang on the Horamavu-Kelkere Road, just 1.6 km from the Ring Road, in the vicinity of well-established layouts like HRBR, HBR & Banaswadi.

Almost all customers have booked their ‘dream home’ here mainly because of the attractive pricing, location and easy accessibility to infrastructure like good schools, hospitals, Metro, Railway & Bus stations, Airport and Tech Parks, says the SDIL CEO C V Cheluvaraj.

Besides these, the well-designed model show-flat at the site has been a big factor in pulling in customers. “Six out of 10 who come to see the show-flat, end up booking one for themselves,” he says, pointing out that this is indeed a very high rate of conversion. The look and feel of the show-flat with its set of fixtures and amenities prompted them to book on the spot.

More importantly, a significant number of customers were instrumental in getting more buyers from their circle of friends and relatives. ‘Word of Mouth’ has worked wonders here.

“That is also because the customers see total transparency in our booking process, adds Chitra G Jagannath, Head Business Development. “Our prices have remained the same and non-negotiable from day one. This, in turn, has drawn only actual users, customers who have booked their apartment only for their own use.”  

That is clearly the target segment that SDIL is looking for in Sovereign Unnathi. “We will consider our job well done when people actually start living there and the apartments light up every evening there,” she says.  For most customers, this is their first big investment in a house and they are understandably very excited over it. They are mostly from the salaried class - young techies, bank and public sector employees. Only a handful of them are from the business class. Investors have been consciously kept at bay at Sovereign Unnathi.

Four identical 2-BHK houses of 856 sq ft will come up on each of the 16 floors of Sovereign Unnathi spread over 12.5 acres on the Horamavu-Kalkere Main Road. As much as 80% of the project area will be open. Complete sanction plan has been obtained from the BBMP for Phase I of the project and the promoters pride themselves on the fact they have not deviated from the stipulated norms nor compromised on any aspect of the project—be it safety or statutory.

Each housing unit will have piped gas and Diesel Generator backed-up power, telephone with intercom facility, round-the-clock security, cable TV and broadband network.
Recreational facilities like swimming pool, tennis and basketball courts, amphi-theatre, children’s play area and indoor games will be available to all the residents.

In the second phase, a commercial complex will come up in which the daily needs of the residents will be met through departmental stores, milk and vegetable outlets, beauty parlour, internet café, laundry etc.

 “We are happy to see that our dream of making the ‘aam aadmi’s dream house’ affordable has got off to a flying start,” the promoters say. So much so, that we now feel encouraged to execute similar projects not only in Bangalore but also in Chennai, Mumbai, Bhopal and Delhi. The demand is very much there. All that is needed are the will and resources.  

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