Shriram Smrithi: A Look Back at Shriram Properties' Early Bengaluru Delivery
Folks, let's take a closer look at Shriram Smrithi in Bengaluru. This apartment project by Shriram Properties is fully completed, launched in March 2009 with possession starting in November 2011. This timeline, delivering 1280 units across 21 acres in just over two years, speaks well for Shriram Properties' execution capabilities, especially given the market conditions at that time. From an investor's perspective, the initial unit prices ranged from ₹2,448,000 to ₹8,833,000. Today, the listed prices are ₹52.42 L to ₹88.33 L, with an average price per square foot of ₹5790. This indicates significant capital appreciation for early buyers, particularly those who invested at the lower end of the launch price spectrum. A unit purchased for, say, ₹25 lakhs would now command over ₹50 lakhs, representing a strong return over more than a decade. Shriram Properties has a long-standing reputation, and projects like Smrithi contribute to their credibility for delivering large-scale developments. While RERA was not applicable for this project, its successful completion and the current resale market performance are practical indicators of customer satisfaction and overall asset quality. For anyone considering a completed asset, Smrithi shows a proven track record of value growth.
Comments
Itna purana project mein invest karna worth it hai kya? I'm a first-time buyer and super nervous about putting all my savings. What if something goes wrong with the structure or plumbing in a few years? Naya ghar lena zyada safe nahi hoga?
1280 units in 2 years, without RERA? That's a huge risk they took, but it paid off for them then. Nowadays, RERA ke bina toh sochna bhi nahi chahiye.
I've been looking at Shriram projects too, but more recent ones. My uncle bought in Aavalahalli from a different builder a few years ago and he's still struggling with possession delays. Smrithi ka on-time delivery is definitely impressive, but that was over a decade ago. Are their newer projects also delivered on time? That's my main concern, I don't want to get stuck.
Good question, U3. I heard about some delays in their recent projects, but nothing as bad as other builders. Maybe check their RERA completion dates for current projects? Smrithi was pre-RERA, so it's a different ballgame.
Dekho bhai, 2009 ka project hai. Tab market conditions alag thi. Abhi Bengaluru mein itna appreciation milna mushkil hai, especially with so many new projects coming up. ₹5790/sqft for an old project, is that really good in areas like Akshayanagar or Adigara Kallahalli?
Haan, U2. Akshayanagar mein toh abhi bhi thode naye projects is range mein mil jayenge. Plus, new construction gives you that peace of mind for a few years. Old project mein repairs ka tension rehta hai.
Totally agree. ₹5790/sqft for a 10+ year old building seems a bit high, unless it's in a prime, prime location. Maintenance costs bhi add honge na?
Wow, ₹25 lakhs to ₹50 lakhs, that's a crazy return! Shriram Properties ka track record toh sahi lag raha hai. As a first-time buyer, this kind of growth really gives confidence. But is it still possible to get such returns now, especially with the current market in Bengaluru?
Exactly, U1. That was a different era. Property prices were lower, competition less. Now, with so many options and RERA in place, builders are more cautious. Plus, an old project might have maintenance issues later, right?
Sahi baat hai yaar, returns toh solid lag rahe hain. But current market mein itna easy nahi hai. Interest rates bhi upar hain. Maybe for a long-term hold, but instant doubling? Doubtful.