Jun 212012
 

Prestige Ferns Residency @ Harlur Road, Off Sarjapur Road

Prestige group has announced that they will very soon run a pre-launch offer for their new upcoming apartment project at Harlur Road, Off Sarjapur Road. The name of the project is not yet announced however Prestige Group had planned to launch Prestige Misty Waters and Prestige Ferns Residency in August 2012, at the time of writing its not clear if this project is indeed one of them. Sources confirm that the project is called Prestige Ferns Residency.

As per available information, the project will offer about 1300 apartments  and will span across 25 acres and will consist of multiple high rise towers. Project is planned to be completed by 2015.

Bookings are expected to be open from Monday 16th June

Prestige Ferns Residency Options

  • 2 BHK
  • 3 BHK
  • 4 BHK
Apartments area range : 1200sft to 2550sft approx

Prestige Ferns Residency Price

Expected pre-launch price is around Rs.4250/- per sft.

Prestige Ferns Residency Location

Harlur Road, about 1.8 km from Sarjapur Road, 6.3 km from Koramangala and 3 km from Wipro Corporate Office. Close to Sobha Classic

View Larger Map

Take the poll – Is Prestige Ferns Residency a good investment?

  212 Responses to “Prestige Ferns Residency – Location, Price, Review, Public Opinion & More”

  1. Last month I got a call from prestige informing me that SBI approval is not going to happen. SBM (state bank of mysore) has approved the project and I can go with them instead.

  2. I am willing to sell my flat at PT for 3600. Had bought it for end use during pre launch. Now decided to live near my office in itpl. The flat is 1087 sq feet on 12th floor in tower 9, farthest from the chicken feed factory. Any body interested, pls let me know. I will bear the transfer charges for the same.

  3. Hi, I am interested in buying a flat (Upto 1300 sqft size) for myself. Willing to pay up to 5,000/sqft including floor rise and transfer charges.
    Any interested seller can reach out to me at 9900922000 or chetanyadav11@gmail.com

    • Hi

      I am planning to sell my 2 BHK (1174 sqft) on the 8th floor (Tower 6). Not looking at a price less than 5,620 per sqft (including the floor rise).

      Anyone interested, please get in touch on s.rajive1@gmail.com (Only serious buyers, please).

      regards
      Rajive

    • Hi Chetan/others,

      Please read this article (and more articles on this topic to get both sides of story and check with some experts if there is any risk based on distance from actual shooting location) before buying in this area which is just adjacent to Army Iblur Shooting Range. The shooting/firing range has been here since British times, so the contamination has been occurring since then.
      http://www.organicconsumers.org/articles/article_8875.cfm

      Thanks.

      • Then you should buy only the projects from Total Environment because the paint used in this project has lead content and it can severely impact your health and can cause cancer. Also this project is close to graveyard and chances of you getting possessed is also high!

  4. So the project is not yet approved by SBI – anyone know why?
    I’m told the resale rate seems to be currently at 5300/sqft or lower if you bargain well whereas Prestige now quotes 5850/sqft…

    • Phase-1, Reluctant end users due to reckless prices
      Phase-2, Reluctant investors due to less liquid re-sale market
      Phase-3, Price Stagnation
      Phase-4, Construction delays (more aggravated for big (1000+units ) projects) due to less consumption
      Phase-5, Cool down in prices, pressure on inventory and price resistance causing bargain sell, higher NPAs on banks. (sounds stupid but looks possible!..?)

      I guess, for RE in Bangalore, we are between 2nd and 3rd Phase. Phase-4, I sense may be in year 2016..!

      With that happening we can see sensible prices prevailing in market (although not lower than current prices!). But for all those investor who expect next level of 10k for project configuration of 6k today, will be disappointed or speculation will vanish/ reduce to a greater extent from market.

      To just understand this, how may time you have got mail from channel partner about apartment launch as ‘HOME’, instead always it was good investment opportunity, higher rent so on so forth..
      So builder’s mindset was always, people buy commodity not home as people do not hesitate to give cheque of 5 lakhs in few mins(no floor pans, no surety of unit type etc), as it is not a home, but just a goods for few!

      Like, IPO is oversubscribed, secondary market fuc*d when it lists on stock exchange, as everyone wants to sell and no buyers of stock in exchange or kind of that..! There was once such euphoria for IPOs, but later when people stopped making money, it attracted less and less people.
      So we can’t blame investors alone. but when return are flat or negative, automatically it turn down investors. until that happen, (which is not a distant reality for real estate as it is just like any other asset class), investors keep flocking for pre-launches.

      Investors ideally can be expected to shift to equities on account of better return and clear direction to economy after general election, which was absent in last few years in India and absent globally(on account to economic depression) since 2008 market crash.
      Equities went out of fashion for many causing less participation/asset allocation. So all speculative money came to Real Estate and partially to Gold.
      Nevertheless, investor mindset and sentiments will change and will take time to that to happen. It happened with Real Estate, so it can happen back again to equities. Talks will again start about new stocks ‘Infosys’, ‘TCS’ and likes. End of the day, all that one wants is to make more of their investment :-)

      Lastly, one good thing about equities or bad thing about Real Estate is that, investors will get price quoted on exchange when u sell in equities, but for later, you can get little less than what’s quoted in the market, that too if you are lucky! :-)

  5. hi i am planning to sell my 2 bhk in tower 5 floor 15 flat no 2, priced @ 5300/- including floor rise, transfer fee, if anyone interested mail me the offers @ ibrahimsait@hotmail.com

  6. Hi…Prestige Ferns Residency is now approved by the SBI….I have got the mail from prestige with the details of SBI executive….

    I have one 2.5bhk apartment in Prestige ferns measuring 1290 sqft..11th floor ..north facing…if any body is interested to buy plz call…9916822934

  7. Hi All,

    Am planning to buy Sobha Eternia, which is nearly besides Prestige Ferns Residency. As both Sobha Eternia and Prestige Ferns Residency are at the same location, I would like to seek the view of this forum on the advantage and disadvantages between these two projects. I am looking for 2070 SFT 3BHK+Ser Room in Sobha. I was quoted around Rs.6000 per SFT. I assume, I may get a discount of Rs.200 on this price. Besides this project is approved by SBI, which is my criteria, as I would like to with SBI.
    Now, anybody can tell me what is the current running rate for 3BHK. I am looking for 2220 type of 3BHK. Is this yet approved by SBI? I saw some comments here in below. When this project will be completed?

    I was told the qualify construction of Sobha is good and their paper work is good.

    How is Prestige. Prestige is a big proect with 1000+ apartments. The Sobha Eternia is a small project with around 100 flats. Will it be an advantageous of investing in small property compared to a massive property. I am getting decent amenties in Sobha.

    Could somebody throw light on Prestige Vs Sobha. As this is my lifetime investment, I wanted to be absolutely sure that I am investing in the right property between Prestige Ferns Residency and Sobha Eternia.

    Any useful comments on the above points, would be highly helpful

    Rgds
    KVNS

    • Hi,

      Quality wise I would rate Sobha much higher than Prestige. If Sobha is 9/10, Prestige would be 7/10. Sobha provides a lot of details to ensure the quality of the product. I do not see such details in Prestige or any other big builders like Prestige, Brigade, Salarpuria, Purva, Rohan etc. I would say finishing work done by Sobha is much better than any other builders. If you feel, I am blowing a trumpet for Sobha, Just go to any completed projects of these builders and take time in comparing minute details in terms of quality.

      One basic example I can give which anyone of you can easily compare is “Rate per Square feet” they charge. When Sobha launches a project with 6000/sq.ft this includes car parking charges, amenities charges, club house charges, one year maintenance charges etc. They only charge extra for PLC, floor rise and a maintenance deposit which will go into your association kitty. Even general charges like Water, electricity etc I found to be much lesser compared to charges levied by other builders like Prestige, Brigade etc. But you see Prestige/Brigade would say rate per sq.ft is 5800 and you think it is little cheaper. Then comes 3 lakhs for car park, 1 lakh for clubhouse, thousands for maintenance of first year, then maintenance deposit, then flat numbering charges etc.. OMG. Even government charges like water, electricity, legal charges charged by these builders will be more. So finally if u see the actual rate per square feet should be increased by minimum Rs.400 to even Rs.1000 more based on builder’s tactics of charging customers.

      Just go to the ongoing projects of these builders (Sobha, Prestige, Brigade) and compare cost breakup sheets they provide. :)

      • Hi Rajesh

        Thanks for the detailed reply.Any idea how is the mosquitoes problem in this area.I am assuming that the lake view that both prestige ferns residency and sobha eternia might not be good. My gut feeling is that practically all these lakes are not maintained and may be grooming ground for mosquitoes. Any idea on this. Lakeside view are being sold at a huger price. Almost freezing on going for Sobha eterinia. You have any suggestion similar properties of class a builder that I can compare

        Appreciate your views

        Reg

        Kvns

      • The fact that Larsen & Toubro are the contractors, speaks a lot for the quality of Prestige Ferns !

  8. Hi

    I am willing to sell my 2BHK apartment in Prestige Ferns Residency Apartment.

    Interested people can call me @ +91 9886303180

    Best Regards
    Barani

  9. There is a google group for this project prf_blr, you can post your queries there.

    https://groups.google.com/forum/#!forum/pfr_blr

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