Assetz Lumos

Assetz Lumos stands at No. 89 in the Yesvantpur Industrial Suburb, pincode 560086, in the north-west of Bengaluru. The city centre is about 11.9 km away by Tumkur Road, the one distance the developer has published. Everything else, from your office to your children's school, you will have to time yourself, and the Tumkur Road stretch behaves very differently at 8 am and at 8 pm.

Yeshwanthpur is a mix of factories and housing, with Gokula Extension and Model Colony among its residential pockets and the Peenya-Tumkur Road industrial corridor nearby. If you work in that corridor, the commute is short and against the general flow. If you work on the other side of the city, test the journey before you fall for the flat.

Schools, hospitals and shopping are spread across Yeshwanthpur, so daily errands stay local. Because the suburb is designated industrial, ask residents about truck traffic on the approach road, noise from nearby units, and air quality on a working day. A weekday visit, not a Sunday one, will tell you what living here is like.

Assetz Lumos has three layouts, quoted as built-up area. The three-bedroom is about 1,876 sq ft. The three-and-a-half-bedroom, a three-bedroom with a small extra room for a study, is about 2,260 sq ft. The four-bedroom duplex spreads about 5,028 sq ft across two levels, an unusually large home for this part of the city. Carpet areas have not been published, so ask the seller for the plan and measure.

Every unit is sold out with Assetz Property, so there is no price list. The developer's last published rate was Rs. 7,250 per sq ft, from the original selling period. In a resale, that number is background at best. Ask for the registered value of recent sales in the same block and compare on a per-sq-ft basis, remembering that a duplex and a standard flat will not trade at the same rate.

A flat completed in 2017 with its occupancy certificate carries no GST. Stamp duty and registration on the agreed value apply. Ask the seller for a written breakdown that shows:

• Agreed price and the area it is based on, with floor and facing
• Car parking bays and whether they appear in the sale deed
• Maintenance dues paid up to the date of sale, and the deposit being transferred
• Association transfer or no-objection fee
• Stamp duty and registration on the full value
• Brokerage, if any

Assetz Lumos has no RERA registration number published, and a project handed over in March 2017 may predate mandatory registration in Karnataka. Ask the seller or the owners' association for the position and search the Karnataka RERA website (rera.karnataka.gov.in) regardless. The project is described as approved by BBMP/BDA, which you confirm from the sanctioned plan and the occupancy certificate rather than from a sales conversation.

For a resale in a completed building, ask for:

• Occupancy certificate for the block
• Sanctioned building plan showing the flat as built, both levels for a duplex
• The seller's sale deed from Assetz Property and the agreement before it
• Khata in the seller's name and the latest property tax receipt
• A fresh encumbrance certificate for the years since the seller bought
• No-dues and no-objection letters from the association

Registration is by sale deed, followed by a khata transfer into your name. If the seller has a home loan, agree in writing how it is closed and when the bank releases the original documents. Walk the flat with the sanctioned plan in hand; a duplex in particular invites internal changes, and any deviation becomes yours on the day of registration.

Assetz Lumos puts 140 homes in three blocks of 14 floors on 1.6 acres, a tight plan, and the layout's job is to make the ground between the blocks count. The developer has not published the share of open space, so ask the association for the sanctioned plan. Since handover was in March 2017, you can walk everything: the pool, the courts and the garden are facts, not renders.

A day could start with a swim or the gymnasium, and end on the badminton or basketball court or the jogging track. Indoors there is a games room with table tennis, a spa and sauna, and a community hall and party area for gatherings. Children have a play area and a lawn, and retail spaces within the compound handle daily needs. The building services list is long for a project of this size: lifts and intercom, CCTV and security, fire safety, a sewage treatment plant, waste management and power backup.

The flats were built with reinforced-concrete walls using aluminium formwork and a floor height of 2.95 metres slab to slab. Floors are vitrified tile, and the open kitchen has a separate preparation and utility space. After nine years, judge the finish on wear and the services on their upkeep, and ask for the association's maintenance accounts and the size of the reserve fund.