Prestige Tranquility
Prestige Tranquility is a new project coming up on Budigere Road, Bangalore – also known as the access road to the International Airport Bangalore, from NH4/Old Madras Road.
Spread across 38 acres of land, the project is set to house a total of 2330 apartments.
Currently Prestige is running a pre-launch campaign with a pricing of Rs.2628/- per sft, with car parking charges extra. Approvals are in progress and are expected by end of July. Official launch of the project is expected to be on 25th July, there is also a hint that the price will be revised upwards by Rs.100 per sft.
On July 25th Prestige officially launched the Prestige Tranquility project, Ads were placed in several leading news papers announcing the much awaited launch. As expected there was a revision in the price and the official launch price ir Rs.2728, exactly Rs.100/- more.
Scheduled completion of the project is June 2014 Dec 2014 with a grace period of 6 months.
There would be about a total of 17 towers with the tallest being G+27 floors.
With Prestige Shantiniketan on ITPL road becoming a landmark project by Prestige Estates, this project on a similar scale with attractive pricing will be well received.
Public Opinion – Is Prestige Tranquility a right investment?
- June 22 – With about 160 poll votes, we have a decent sample size to examine what most people think about this project, 47% think that Prestige Tranquility is a good investment, 23% don’t think so and 30% are not sure. 30% Not Sure – is a huge figure, the number one reason for this could be the location of the project
- July 24 – With over 270 votes now and a lot more people being aware of the project and as well as people actually visiting the project site the results are getting realistic with 46% – saying YES, 27 % NO and 28% NOT SURE on whether Prestige Tranquility is a right choice. Compared to the last time when we examined the results the percentage saying YES remains almost the same but there is a 4% increase in NO
Check the latest results in Page 2.
Prestige Tranquility Location
With projects like “Pruksa Silvana”, “GR Sun Villas”, “Brigade Exotica”, “Signature Dreams” and “Signature Tulips” in the surrounding Budigere road may see some positive developments in the future.
Prestige Tranquility Options
- 1 BHK – 653 sft and 712 sft
- 2 BHK – 1073 sft to 1130 sft
- 3 BHK – 1628 sft, 1797 sft and 2019 sft
Call 9980808080 to book the last few units in Phase 2 (ad)
Prestige Tranquility Pricing
- 1 BHK from 20 lacs onwards (Booking Amount: 2 lacs)
- 2 BHK from 31 lacs onwards (Booking Amount: 3 lacs)
- 3 BHK from 45 lacs onwards (Booking Amount: 4 lacs)
The pre-launch offer is Rs. 2628/- per sq.ft (base price). The official launch price is Rs.2728/- per sft (base price)
- Car park Rs. 250,000/-
- Floor rise Rs. 15/- psft for each floor
Rs. 50/-Rs 75/- psft for premium units- Approximate additional charges
- Bescom/ BWSSB- Rs. 100/ Sft
- Adv. Maintenance – Rs. 42/ Sft
- 1st year Sinking fund Rs. 42/ Sft
- Generator for 2 BHK- 75000/- and 3 BHK Rs. 120,000/-
- Exact charges of the above will be available in the next few weeks.
- Service tax, VAT, stamp duty, registration charges payable at possession.
Prestige Tranquility Locality Review
Budigere Road already has big projects such as Brigade Exotica (3km), Pruksa Silvana (0.5 km) and GR Sun Villas (0.5 km) being launched in the first half of 2011. However the stretch between KR Puram cable bridge and Budigere Road has very few large apartment/commercial projects. Pashmina Waterfront (8km) & Mahaveer Chalet (9 km) to name, and the stretch between Budigere Road junction (2 km) and the Prestige Tranquility project, is industrial and mostly barren, with the nearest shopping center easily 5 kms away. Baldwin International School would be the nearest school about 2 km away. Nearest Hospital would be in Whitefield/Marathahalli (12 – 15 kms) or KR Puram (10 km)
Hebron Mall is the biggest commercial project underway located right opposite to Mahaveer Chalet and about 9 km from Prestige Tranquility.
Beary’s Global Research Triangle (tech park) is located about 4.5 kms away. ITPL about 13 km.
The widening of NH4 to 6 lanes with 2 service lanes has reduced the travel time from KR Puram Cable bridge to Budigere Road to 15 minutes. Budigere Road also has easy access to Whitefield Road which is developing rapidly. As per the CDP (Comprehensive Development Plan) Budigere Road will be widened to 300 ft and is part of the ITRR (Individual Town Ring Road)
Large residential projects can trigger developments in the immediate neighborhood however this seems easily to be 3 to 5 years from now.
Prestige Tranquility Concerns / Issues raised by readers
- Lack of facilities (shopping, medical etc) in Budigere Road
- Industrial Animal Feed Factory right adjacent to the project, close to towers T17 & T1
- Agro Food Factory close to towers T16, T15, T14
- Other Industries close to T3, T4
- Situated in the midst of an Industrial Belt
Premium flats are not being included in the pre-launch- Payment schedule not linked to construction progress – however representatives from Citi Bank and Axis Bank at the project site confirm that before a disbursal a construction status/valuation report will be requested
It’s best to choose an apartment facing the clubhouse / landscaping area, outer facing apartments would only overlook industries. For outer facing apartments its better to choose one facing GR Sunvillas or Pruksa Silvana in towers T6, T7, T8 & T9
Prestige Tranquility in Media
Ahead of the launch on 25th July, hoardings are coming up all over the city.
Here is one at Hope Farm junction
Prestige Tranquility Ad – Hope Farm Junction
Prestige Tranquility Official Launch Ad
Prestige Tranquility Videos
Prestige Tranquility Entrance
Prestige Tranquility 360 degree view
Prestige Tranquility – Adjacent Industry
Take the poll
Do you think Prestige Tranquility is a good investment? What is your opinion on Budigere Road? Take the poll.
Other Projects that might interest you
Pruksa Silvana Villas/Row Houses – Behind Prestige Tranquility
GR Sun Villas – Behind Prestige Tranquility
Abhudaya Lotus Garden – Plots (review coming soon)
What do you think is a better choice?
Prestige Tranquility Buyers Group
Are you really serious about buying a villa/apartment in this project, then why not join the Buyer’s Group. It’s a well known fact that approaching a builder as a group has its benefits, who knows you may get a good discount. Of course you are only planning or undecided then you should leave a comment here or check out the forum.
Update: 12 Aug – With Prestige Developers the buyers group has not had any effect especially with Prestige being a large player in the market and the high demand seen for this project. However the Buyer’s Group does have some interesting discussions that you may want to check out.
If you already own an apartment in Prestige Tranquility then there is a google group dedicated to it which you might want to join.
https://groups.google.com/forum/#!forum/prestige-tranquility
Latest Pictures including Prestige Tranquility Floor Plans
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- Budigere Road Junction
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- Budigere Road
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- Industry adjacent to Prestige Tranquility
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- Prestige Tranquility Ad – Hope Farm Junction
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- Prestige Tranquility Official Launch Ad
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- Prestige Tranquility Master Plan
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- Prestige Tranquility Approach Road
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- Prestige Tranquility Entrance
Check out the whats going on in the Prestige Tranquility Forum
Prestige Tranquility Master Plan
Prestige Tranquility CDP Map Overlay
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Share your views and concerns about this project with your comments!!
Possession date for PT has been postponed to Feb 2016. It has been confirmed from the sales people sitting at PT site.
Oh Thats horrible, Is it confirmed? when i contacted i was told that the possession is by June 2015
Apply some common sense. So much of work is left that it is impossible to handover before 2016. Just by making the entrance ready don’t make the flats ready to live. They have launched the signature tower. So to sell it, they have to show some dreams to the customers and that is why they want to complete the entrance work first.
Anyways I wish you best of luck to get the possession at the earliest possible.
Posession is to begin in June 2015. Tower 1 would be completed a bit before that. once it is done, please compare the completion time with any other project of this scale in this nation. Brokers are constantly trying to run the reviews down in here,hoping prices would come down and they can make some sales.
May be Bhola baba meant the possession of the signature tower which is slated for Feb 2016.
By the way, anybody is aware of how many square feet of signature tower is sold?
as of today it is Feb 2016..in 2015 end they will change to 2018 -:(..Hope they pay some penalty for the delay..i know that it is peanuts..
you can approach the consumer court for higher penalty..
U may get the apartment by 2020
Not before that
Harsha,
Please assist me, how do i get into this group mail, i have sent a request but it has been rejected a while back.
Same with me, I am a owner and I sent request to owners group, but rejected all the time.
I guess the group is for owners and not for brokers.
I am the Owner sir. You should mind your words before throwing.
Ok sir. I will mind my words before throwing.
Haha gud joke…Mine is Flat No: 9123, what is yours Bhola?
By giving others flat number you can’t register to the group. For your information the owner of 9123 is already registered in the group.
To become a owner of the flat, we have to register with builder not with you or your fake google group 🙂
I agree, brokers have to register with the builder to get their 2% commission.
oooh!!! heeee heeee!!! 🙂 🙂 I laughed so much for this. It is very funny.
By the way, did you collect your 2% commission from Prestige.
You applied to the same group multiple times with your fake flat no. and when you could not get through the group is fake? I can understand your frustration. Case of sour grapes? Isn’t it?
Hi Bhola. .If this group is for owners only then what are you doing here?
I guess someone asked your flat number and you conveniently dodged. WHY ??
Hi FMK,
Very Nice comment from you.
Mr Bhola, get a life. You are stuck with PT more than the Flat owners.
STOP BEING a hypocrite.
Cheers.
What do you mean by “more than flat owners”, for your information I am also a flat owner in PT. But I am not among those craps who hide the negatives so that they get good appreciation for their investment. For me self esteem is more than money.
So Bhola are you really an owner in PT? If you really are..why are you so hesitant in sharing your flat number.
To me you are playing a cat & mouse game ..dodging away your real intentions. Be more transparent and let this group know about your ownership details.
By the way, who is cat and who is mouse?
Good Bhola, I’m also a PT owner, this is the worst property (sadly)
CFF, Mandur, distance to PT above all slow progress from Prestige……I’m tiered.
implies you are a broker?
Even rich people are not buying properties now-a-days
HYDERABAD: Is the Jubilee Hills Landmark Project Pvt Ltd, touted as Hyderabad’s most expensive residential venture (only a stone’s throw away from KBR Park), struggling to find buyers? Sources in the know of things revealed that the project is in doldrums and Bangalore-based Mantri Developers Pvt Ltd, who replaced Maytas to enter the project (as developer) in December 2011, is running from pillar to post to sell the 126 apartments likely to come up on this sprawling 5.85 acres of prime land in the heart of the city.
Reason? The prices of these flats that have been pegged at anywhere between Rs 5 crore and Rs 20 crore (approx). “It is close to impossible to sell at this rate, especially given the current situation of Hyderabad’s realty market,” said a city-based developer, closely following the project. He added: “At this price or even less, customers can buy luxurious villas here. Then why would they want to invest so much in an apartment?”
While Mantri, in an attempt to increase the saleability of the venture, has now decided to also come up with some smaller units measuring not more than 3,000 to 3,200 square feet (with a starting price of Rs 4.5 crore). Even these have failed to attract customers, say sources. That the bigger homes then, spread over a massive area of anywhere between 5,700 sft and 7,500 sft, are being completely ignored by buyers, comes as no surprise.
“But the pricing apart, the project has a host of other disadvantages too. That it has been a non-starter for eight years and is still at least two and half years away from being even partially complete, are just two of them. Also, who would want to buy such an expensive home that looks right onto a busy commercial street?” elaborated a prominent real estate consultant, terming the project as both “jinxed and doomed”.
That buyers are unlikely to get possession before mid-2016, is something that even a Mantri official confirmed, when this correspondent called posing as a prospective buyer.
Full report at:
http://timesofindia.indiatimes.com/city/hyderabad/No-takers-for-Hyderabads-most-expensive-homes/articleshow/45052970.cms
today i got an email from prestige to pay 6 laks only for prestige sunrise park…but i am not intersted…
trusting indian company could be a big risk..we will wait for the smart city whwere singapore govt is tying up with indian builders..atleast we can expect some good quality homes
* Sales in Bangalore declined by 43% – 2nd highest in the country
* investors are deserting the market
http://timesofindia.indiatimes.com/business/india-business/Record-815m-sq-ft-of-flats-unsold-in-6-cities/articleshow/45052062.cms
MUMBAI: The stagnant property market has led to the highest ever unsold stock of 815 million sq ft of residential space across six cities at the end of the September quarter this year, said a Liases Foras report released on Wednesday. Cumulative sales were down 25% from the previous quarter, making it the lowest since 2009. The real estate research firm said investors have moved out of the property market and are pumping their money into equities, which is giving higher returns.
“This is the highest ever unsold inventory in the history of India’s residential market. Prices have peaked not only in Mumbai, but across the country,” said Pankaj Kapoor, managing director of Liases Foras. Last year, the unsold stock was 711 million sq ft. These ready but vacant flats could take as much as four years to sell. The regions surveyed in the report include the Mumbai Metropolitan Region (MMR), the National Capital Region (NCR), Bangalore, Hyderabad, Chennai and Pune. They contribute around 70% of the total apartments built in India.
In MMR, sales declined by 9.2% (in terms of square feet) in the July-September quarter as compared to the April-June 2014 period. The steepest decline was in Chennai (46%), Bangalore (43%) and NCR (34%). The average weighted price of an apartment in Mumbai is Rs 20,279 per sq ft while in MMR it is Rs 13,186.
“Investors are deserting the market because prices have peaked and they do not see property rates increasing now,” said Kapoor, adding that the all-India market has never been so depressed. “Neither will end users buy because they find prices unaffordable,” he added.
The average price increase in the six centres was just 1%. In Greater Mumbai, the number of apartments that came into the market this quarter (3,589) was 53% more that the previous quarter. But sales declined by 6% in this period.
In NCR, which has been badly affected, 62% of the residential supply is in uninhabitable places without proper infrastructure. The report also said 36% of sales happened in the cost bracket of Rs 50 lakh to Rs 1 crore. The demand for 2BHKs and 3BHKs was 36% and 32% respectively.
TOI: Record 815m sq ft of flats unsold in 6 cities
http://timesofindia.indiatimes.com/business/india-business/Record-815m-sq-ft-of-flats-unsold-in-6-cities/articleshow/45052062.cms
Among other cities, Bangalore recorded the second most steepest decline, with sales down by as much as 43% , compared to the April-June 2014 period.
Aaaahhaaa … so we see where the SALES curve is heading. However, the point to note is: Price curve didn’t follow as close, beating conventional economics by quite a margin. So the question arises:
Why are prices not coming down even when sales are horribly down? This the time when:
QUOTE “investors have moved out of the property market and are pumping their money into equities, which is giving higher returns.”? UNQUOTE
How are the builders managing to hold on to their inventory?
And, most importantly, how long can they afford to do so?
One of the things to understand is that, current RE situation is different from 2008-09 slump, when builders were caught off guard and had to reduce prices. Now they are better prepared as they have discovered alternate sources of cash flow to keep the prices artificially high, even when regular cash flow is effected badly.
Banksters On The Prowl
Over these years, looking at the huge RE margins, Banks have also joined the party. They now want a bigger share of the pie than what they get out of SUCKING customers by selling just the housing loans. So, as the sales decline, builders are knocking at the doors of bankers to keep them afloat and restructure their loans.
Understandably, builder are in heavy debt and need money to repay them. No wonder, most of the projects are behind schedule by 2 years, with builders not so keen in following any schedule. And, it can’t be a coincidence that sales are also down from the last 2 years. In such scenario, it will be a overkill for them to pay delay penalty to the customers. So they come up with flimsy reasons of sand lorry strike etc to avoid any payment.
Now, in this down market, banks are happily restructuring those loans so that the builders don’t have to drop the prices. In fact, seizing the opportunity, Banks have got into equity (profit-sharing) deals with the builders. The formula is simple: Gullible investors are pushed in to taking loan from specific banks ONLY, who are in tern holding equity stakes in those projects. For banks, it’s a win-win deal: They are selling loan products for the property they themselves own. And until the customer pays back the entire money, the asset is safely with the bank, while both customer and builder keep on paying the interests on regular intervals. In fact, it doesn’t stop here: they collect “processing fees” and “other charges” for the property they themselves own!!! … What a deal..!!! Banksters are the reasons, why the world is in so much misery.
One the other hand, if banks don’t get involved, RE prices will collapse and, the real estate market will correct by itself. But in such case, builder will not be able to pay back the bank loans. Real estate companies will go bankrupt and banks will have a surge in NPAs. Many banks are already sitting on huge NPA because of govt. bailout of farming loans and failed govt. projects. Obviously, they down’t want to see NPA figures going up because of Real Estate bubble burst.
As for retail investors, no one—absolutely no one—will DARE to sell flats at these inflated prices should the builder starts selling them cheaper. So, retail investors sit with their BAD investments, and BLEED, holding on to their ego and hope of survival. How many times have you seen retail investors selling stocks that are underwater. Usual response is to hold on to those stocks, until they recover. Their RE investment won’t be any different. But my guess is: institutional investors are quitting at whatever best prices they can as going forward, it will be even more difficult to sell at these prices.
It’s a vicious cycle of GREED and more GREED.
Wonderfully explained. This was an absolute eye-opener. It is again the fight of the individual against entities with deeper pockets.
Aren’t these similar indicators that we had when we headed for the ‘too big to fail’ corporate bailout scenario in 2008-2009?
@Raj
>>>>>>>Aren’t these similar indicators that we had when we headed for the ‘too big to fail’ corporate bailout scenario in 2008-2009?
Not yet. That scenario will come when Banksters will also realize what builders are realizing Today:
That real estate price depends on the affordability of the people and that it can be stretched only as much. Beyond that, it’s only hype and that there are few takes for such hype.
When this realization sets in, only then they will got to govt. to bail them out for the GAMBLE they are playing today.
Not that Banksters don’t know about the affordability of the masses—They are the ones who look into your earnings and expenditures every day. They are, in fact, trying to address it, albeit in a wrong way: Banksters and RE cartels are now demanding interest rate cuts to make loans more affordable so that they can jack up the prices even higher and make current prices sustainable.
Additionally, most of these banks now a day run a second tier housing finance company—with a different name though—and, they are dishing out risky housing loans at higher rates. We don’t have official sub-prime market in India (only prime landing rates are defined), but these housing finance companies are catering to such needs as well, pocketing higher returns and holding on to these inflated RE prices even when demands are substantially down.
Only when RE bubble is big enough to effect everybody in the economy, only then these banksters will become “too big to fail’ rot for us. Before that they make us believe everything is under control.
WSJ: Indian Banks Still Struggling With Bad Loans
http://www.wsj.com/articles/indian-banks-still-struggling-with-bad-loans-1423829255?tesla=y
While Banks have been fighting tooth and nail with RBI for a rate cut, they sit on a huge pile of bad debt that they can’t do away with.
Risky RE loans are now coming back to haunt them. They can’t afford a RE crash this time around. Rate cuts won’t help them either:
https://www.equitymaster.com/dailyreckoning/detail.asp?date=01/19/2015&story=4&title=Why-Raghuram-Rajan-finally-cut-the-repo-rate&utm_source=homepage&utm_medium=website&utm_campaign=newsletters&utm_content=dr
NCR sees 54% decline in new realty projects
NEW DELHI: The slowdown in India’s real estate sector continues with the number of new construction projects declining sharply in the three biggest realty markets in the third quarter of this year, global real estate consultancy firm Cushman and Wakefield has said in a yet-to-be-released report.
New launches were down 54% in the national capital region, 27% in Bangalore and 11% in Mumbai during July-September 2014, as compared to the same period last year. The country as a whole saw a decline of 21% in new projects. The drop was steeper — more than 50% — in the affordable housing segment.
Realty sector experts attributed a number of reasons to the decline in new construction projects. “There is oversupply in most of these cities due to weak market sentiment and slower growth rate in sales, due to which new launches have remained checked,” said Shveta Jain, executive director, Residential Services, India. Capital values in most locations remained stable, she said, with a few exceptions like Bangalore and Pune.
Comple Report at:
http://timesofindia.indiatimes.com/business/india-business/NCR-sees-54-decline-in-new-realty-projects/articleshow/45029657.cms
Doesn’t matter !!! this project is already sold out 🙂 🙂
You can come up with 1000s of case study but owners will not sell cheaper than marker price which is 4200 psft at this point.
Come out of your dream. 800+ apartments are still available for sale.
800+ where ??? did you get that number from Prestige ?
you try your luck for all 800 apartments, you won’t get it cheaper than 4200.
I am not a slum to live in PT surrounded with factories, garbage dumps and horrible smells. I can afford to live in better locality without compromising with my and my family’s health.
Vinay,
Thanks for keeping this forum active with full energy and in all the way, interesting 🙂
Vinay,
Its irritating man! BTW, where do you live in bangalore now? Looking at the way you describe other projects, you should have bought an apartment either in mid lalbagh or cubbon park for Rs.2265 psft. Or in some serene location in europe for the same rate (since europe is still not completely our of recession, you should have got it there??)
Now PT price 5500 rs/sqfeet from builder as well as they launched signature tower, I m not sure this price for signature tower or for full project, whatever it is, now I am getting doubt if they have 800 + apartment left then how can they launch on this price or there marketing team don’t want to sell or they are so dumped they r not doing any study, or they r not checking how many flats they have or they r not able to sell….
I can understand they r playing with people bt then even this price is not understandable if they have really so many flats …..
seriously confused….
800+ apartment left? then what is the sales executives are doing? why they are showing just list of some 10+ odd flat.
Seriously not understandable!!!!!
Are they don’t want to sell the flat? but why ? If i am not getting preferable flat then i wouldn’t purchase. Can they afford/want to loose the customer even they have unsold flats?
Probably you don’t know how the real estate work in India. A newbie in real estate?
Have to admit, this is THE most interesting forum in whole Harshasagar.com 🙂
I admit too. Very interesting forum in whole of real estate forums..
Prestige is known for such tactics. Prestige Shantiniketan, PT, Prestige song of the south.
if you go now and ask Song of the south, they will say “very few flats” available. 🙂
awesome reply bhola(real estate expert), sorry i can’t say…
they don’t want to sell 800 flats, they r doing business they want to earn money, definitely they have lot’s of loan so they can send back to customer, simple business sense.
or else plz elaborate why they want to sell?
sorry typo i wanna ask why they don’t want to sell?
@greet
Not sure about 800+. But as for your:
>>>>>If i am not getting preferable flat then i wouldn’t purchase.
As long as you show interest, they won’t let you go either. Somehow, they should be able to find you a flat—that may cost somewhat more—to suit your tastes. That’s the Sales guy’s full time job.
Hi manjushree,
Same, I was also thinking but I they didn’t return back, they have my no. mail id.
already one month over.
@greet
Probably they were waiting for the new rates to be effective. They recently announced new rate of 5500 per sqft..
Expect their call anytime soon.
But don’t buy unless you find the one that you like. No compromise there if you a end user.
Hi manjushree,
you are slightly correct, as I got the call for signature tower but I ask about other tower the again he started with same old list as I previously seen, I asked i listen you have 800+ flats then he told “no mam we don’t have this much flat builder have from old tower” when i insisted the he told if they would have so many flat then why they wouldn’t sell? any how at last he told If i got any person who interested on sale he will give my no, even he told you can go for resale flat from some groups or internet. projectis out of my budget now from builder side atleast, 5500/- horrible specially in forest.
you can check online after 6 months..all the projects will be available for sale..
Swati – there are million homes ready to move in..what is so special on under construction
flats..
if you reduce the offer price also there will not be investors..to buy
@Ram,
There are few lsser than one lakh unsold inventory in bangalore which you exaggerate to 1million and soon to billion amd then trillion. Bangalore population is 8 millions but according to you 1 million are unsold.. lolz …if we count all occupied and unoccupied homes in bangalore it would be around atleast 4 million but wow bangalore has a home availabe per two person either occupied or unoccupied . And one lakh unsold inventory does not mean 1 lakh resdy to move in. It includes launched, pre launched , under condtruction properties as well.
thats not correct ashish..you can good the Hindu newspaper and find out the exact number..
all 1 million homes are constructed only…they are not in the under construciton home..
Some people live in fools paradise and keep denying even newspaper reports if the report is negative. If the report is positive, the same people will highlight the news.
Its not a hidden fact that the real-estate is going through the worst phase. Take any newspaper today, there are lot of offers on almost every project. For example, this mail I received from 99acres:
“Win a Bangkok trip with each booking at Provident Rays of Dawn @ 39 Lacs all inclusive”
This shows how desperately the builders are trying to dispose their inventory.
@Ram, Can you please provide link of article of Hindu or Any other source which mentions something like, ‘THERE ARE 1 MILLION (10 LAKHS) READY TO MOVE IN UNSOLD APARTMENT IN BANGALORE’ . It will be great help to all . However I read of less then a lakh unsold RTM in bangalore from on the of links mentioned this this thread as below :-
http://www.proptiger.com/blog/realty-check-performance-scorecard-of-bangalore-in-the-first-half-of-2014/
@Vinay : Man you have hit the nail but as always you twisted some facts.There are few folks like you and some others who keep on posting selectively negative news and and living in False Paradise and trying to potray that there is no tomorrow for have bought and sold and almost have become bankrupts (BLEEDING) and you few are smart enough ,making millions every month by investing in FD instead of Real Estate which you shown when you posted in one of the TOI article of FD vs Real Estate Returns and made mockery of yourself.
I dont understand when you people dont need to buy any property then why out of every 10 news posts 7-8 are from you people. What are you trying to prove or whom are you trying to influene. Move on in your life. Its ok if you think prices are very high and will not sustain then wait till the time it will come down. But dont think if you keep on writing (which you are doing from such a long time) here prices will come down.Even after writing numerous on various negative posts there is not even a single rupee price drop in any projects where you all keep on bashing.
Infact prices are going to revise soon as Karnataka Govt has decided to increase Guidance Value of Bengaluru by 15 – 30% and builder will oviously will push this to new customers and even for apartments which are under construction but not registered it will increse Stamp Duty and Registration value.
http://content.magicbricks.com/industry-news/bangalore-real-estate-news/bangalore-new-guidance-values-to-make-home-buying-expensive/78337.html
http://timesofindia.indiatimes.com/city/bengaluru/Guidance-value-set-to-rise-in-Bengaluru-citizens-rush-to-register/articleshow/45104841.cms
A small correction… I didnt intend to write less than one lakh unsold RTM but less than one lakh unsold inventory as mentioned in article. Inventory includes RTM, launched, pre launched , under construction units as well.
Here is the new price list after the increase in rates
1 BR – 75 LAKS ONWARDS
2 BR -1.5 Cr ONWARDS
3 BR – 2.5 CR ONWARS
4 BR – 4 CR ONWARDS
Conditions apply – No water , No proper roads, No OC, No A KHATA..How is that ? 🙂
@ashish
Does this “less than one lakh unsold inventory” includes the flats that investors are trying hard to sell? Technically, they are SOLD but should be counted as UNSOLD in the RE market.
1 million homes to be sold in Bangalore only. did u count homes for squirrels, pigeons and dogs???
At Radha,
You opened my eyes. Till this time I was feeling North Bangalore is quoting so high. Now when area like PT and BGT is quoting so high, North bangalore seems affordable to me ….. ????????????..
Why cant it be the other way? Though market is not good, builders might try to portray a dismal picture by giving such paid news just to delay the RealEstate bill further.
http://en.wikipedia.org/wiki/Lies,_damned_lies,_and_statistics
This is more relevant to india where data collection has lot of loopholes and erratic
Bangalore BIG 5 debate
http://vimeo.com/109566390
check the link above. They will sell the max during prelaunch and launch. The sale will be slow during the construction phase and once the construction reaches above 70% then the builder will not push to sell and will start his sale after completion. There are certain buyers who will like to see the end product and then buy.
san
market will crash in another 6 months..there is no proper infrastrucutre in city..
why pay 1 cr for a 2 bhk apartment ?
If you think the market will crash in 6 months, then the indication is that indirectly people are also going to lose their jobs in the same time frame ahead. When people lose their job, irrespective of how low the price of real estate comes to, they will not buy. The priority will change in a job lose scenario.This is the time the real investors will take advantage of the desperation in the market. There is difference between correction and crash. In the case of correction people will come back to buy. In a crash only investors will buy.
No one can force anyone into buying, unless they fall into buying. If you think the prices will come down after six months you can wait until then and decide, else wait for the correction till it happens. It also depends if the correction is as per the expectation of the particular individual which will again vary from person to person.
Every project has its negative and positive and both needs to be explored, discussed, made transparent and informed to the public.Only being positive or only being negative is like having a personal Intention known to the Individual person only.
san
@san
Prices will not come down immediately. Not even in 6 months, though sales may see further down slide (from current level of 43% down).
Banks are providing enough cushion to the RE market to support the current prices.
Read my related post here:
http://harshasagar.com/2011/06/09/prestige-tranquility/comment-page-5/#comment-31359
So, my suggestion is: if someone is buying for own use and can afford to buy at current prices, he should go ahead and buy. Preferably go for ready-to-move-in flats. Bargain hard. It may take years for the prices to correct.
However, make sure you do not get into debt trap. Don’t commit more than 30-35% of your income as EMI. Indication are ripe that IT market will go through turbulent times in the near future, and you need to be extra careful about your outgo.
As the sales dip, expect projects to delay. Already we are seeing delay in projects by premium builders. For own use, go for a ready to occupy project even if it costs more. Reduced cash flow has effected builders badly and, in such situation, the most obvious and innocuous step for them is to route the incoming money towards debt repayment rather than completing the project on time.
Ongoing Media Propaganda to sustain current high prices
HEADLINE: Official land rate touches Rs 20,000 per sq ft in Bengaluru
Full article at:
http://economictimes.indiatimes.com/wealth/real-estate/news/official-land-rate-touches-rs-20000-per-sq-ft-in-bengaluru/articleshow/45143269.cms
This is MISLEADING.
In their own example of Sadashivnagar and Kingfisher towers, the increase was 2.5% and ~6% respectively, lowest in the slab of 5% and 30% hike. But because actual rates have been high in this area, they pick it for their example. On top of it, they have FACELESS experts who claim “33,000/sqft to Rs 35,000 /sqft” is pretty normal. Effectively, they want us to believe that rates of 20K and above are new normal and 5-6k are just pittance. Jump, if you find someone selling at these rates!!!
Te SCARY news of guidance value increasing was there in the media for more than a month. Obviously, buyers who would have registered their under construction property in next one year rushed to save few buck, increasing the chance of being caught in builders’ net and boosting already bankrupt BBMP coffers.
With 30 days to go, who will take our 4K-tonne daily filth?
Villagers along with their MLAs protest entry of a team led by Magadi tehsildar that came to survey a 40-acre property identified as an alternative to Mandur
?The message is loud and clear. Nobody wants a Mandur in their backyard to dump Bangalore’s refuse. On Thursday, villagers of Gorur near Magadi not only mobbed Revenue Department officials, but also refused to let them into the village to conduct a survey for the landfill. Gorur residents, 8however, are not the first to raise their voice against dumping Bangalore’s garbage in their turf, but are in fact the fourth group of villagers in a row to resist attempts to create such a facility ever since Chief Minister Siddaramaiah promised in June that not a single truckload of Bangalore’s garbage will be dumped at Mandur from December 1.
With just 30 days left for the December 1 deadline, nobody knows what will happen to the 4,000-plus tonnes of Bangalore’s garbage generated every day. On Thursday, more than 500 villagers of Gorur staged a vehement protest joined by local MLAs. Nelamangala MLA Srinivasamurthy and Magadi MLA HC Balakrishna and swamijis from local mutts took part in the protest.
Complete detail at:
http://www.bangaloremirror.com/bangalore/cover-story/With-30-days-to-go-who-will-take-our-4K-tonne-daily-filth/articleshow/44988388.cms
PT Signature Tower is open for booking!!!
Whats the price?
Its clear now. the price is 5500 psft for the entire project along with the signature tower
Yes, hold on to your flat. By the time of possession it will reach 10000+. Each investor in PT will join millionaire club and will get published in Times magazine.
Who told you that I am an investor?? Dont invest your time to criticize people. Whatever you may call me Bhola, Thanks for entertaining all of us!!
Friends,
Don’t get annoyed with the comments on this site. There are few ID’s like Bhola, Vinay, etc that keep posting comments to make this website active.
hey vijay..take it easy..bhola was only telling you why prices are getting skyrocket
Market hasnt improved..All builders are hoping that things will change..
I would suggest you to look at the readymade flats available and you can see the final end product and live peacefully..
An interesting article to read for people wanting to invest in real-estate:
An acquaintance recently told me that his colleague had bought a flat for Rs 40 lakh and is selling it at Rs 80 lakh. He had made a down payment of only Rs 8 lakh at the time of buying the flat. According to him, real estate was the best investment option. This is something we hear almost every second day as financial planners. The person also believed that among various asset classes, money was being made only in real estate. Why was it so, he asked. To clear the cobwebs regarding real estate investment by taking a loan and to open up a myopic view on this subject, we made some calculations after agreeing on some basic assumptions.
Here are the calculations …
http://epaper.timesofindia.com/Repository/ml.asp?Ref=VE9JTS8yMDE0LzA1LzA2I0FyMDIxMDM%3D
Not sure if the above calculation makes sense. The writer seems to subtract the EMI outflow (23,16,060) in one case and not doing so in the second case? Is that fair? I feel the proper comparison should remove the common outflows and inflows from the two cases and tabulate the remaining ones.
I think the writer has considered each and every aspect.
Can you specifically check the EMI outflow (RD principal). In both cases, that’s an outflow. Hence, either you subtract it from both the final amount or not subtract it. Here the writer has subtracted it in the 1st case while he hasn’t done so from the second. I feel this is incorrect.
Jobless u are absolutely correct. An extra 23 laks has been deducted in the 1st case. Wonder what kind of a math whiz kid did this table.
Exactly. I was wondering how can somebody make such elementary mistakes.
The writer has subtracted it from both the cases. The writer has used the following formula:
a – b + c – d – e – f – g + h
The RD principal of Rs 23,16,060/- that you are talking about is “g” which is clearly subtracted in the above formula.
There is no g in case 2.
Hi jobless, san and Net inflow,
After seeing san’s message, I agree with what you are saying. In the RE case, the PROFIT is 37 lakhs while in the RD case, the total capital after 5 years is 47 lakhs but the PROFIT is lesser. If we talk of the total capital after 5 years, then it is 100 lakhs for RE and 47 lakhs for FD
No Vim. if we count them then it will become 5 million homes
The writer missed one input which changed the result of his presentation.
RD for 60 months as principal was missed out in the outflow in the example.
check the details below.
FD/RD
——
OUTFLOW
Inital amount – 13,00,000
RD for 60 months – 23,16,060
Tax on both Interest @ 30% – 03,53,939
——————————————————
Total 39,69,999
—————————————————–
INFLOW AFTER 5 YEARS
Initial Amount – 13,00,000
Simple Interest @10% – 06,50,000
RD Priciple in 5 yrs – 23,16,060
RD Simple Interest @ 9% – 05,29,798
——————————————————
Total 47,95,858
——————————————————
BENEFIT = 47,95,858 – 39,69,999 = 8,25,859
Property bought taking a loan
—————————————-
OUTFLOW
INITIAL AMOUNT – 10,00,000
STAMP DUTY REGISTER – 03,00,000
EMI OUTFLOW FOR 5 YRS – 23,16,060
TAX ON RENTAL INCOME – 01,98,923
CAPITAL GAINS @20% – 04,00,000
PRINCIPAL REPAYMENT – 35,92,098
————————————————————
Total 78,07,081
———————————————————–
INFLOW
GROSS INFLOW SALE OF FLAT – 1,00,00,000
RENTAL INCOME FOR 60 MONTHS – 0,09,94,613
TAX SAVINGS ON INTERST PAID – 0,05,72,447
———————————————————————
Total 1,15,67,060
———————————————————————
BENEFIT = 1,15,67,060 – 78,07,081 = 37,59,979
Real estate Investment returns will vary from place to place, property to property and location to location. On the long term it will always give you a return and is a hedge against Inflation. This is not a liquid investment and cannot assure immediate funds.
FD/RD is good for smaller Investment Proportions and is risk free.
san
When it comes to investing, one must look at RE and FD as 2 different options. So, even though the actual benefits—when seen individually—differ, the fact is:
At the end of the 5 years:
RE investor will be left with 37,59,979
and
FD investor will be left with 44,41,919
Outgo from pocket was SAME, only taxes vary. FD investor’s out-of-pocket outgo came back, whereas RE investor’s not.
So, FD investor effectively made (44,41,919 – 37,59,979) = 6,81,940 more, without taking any risk and going through the pain of buying and selling. In other words, 6,81,940 is the net profit, when you chose FD over RE.
Given an opportunity, which one will you chose? This is question we are trying to address here and not the individual numbers.
FANTASTIC ARTICLE..
Looking at just individual BENEFITs is misleading. There is a difference between the BENEFIT of FD investor and RE investor:
For RE investor, the total BENEFIT of 37,59,979 is his entire money, his new capital.
For FD investor, the BENEFIT of 8,25,859 is just a part of the TOTAL money he is left with (44,41,919), the capital for his next investment.
There is nothing misleading. When after 5 years fd and rd priciple amount are are not subtracted in net inflow similarly in property also upfront payment and stamp duty I.e. 13 lakhs should had not been subtracted in article as he will get it back amount which is part of 1 crore . Calculation is wrong..
>>>For RE investor, the total BENEFIT of 37,59,979 is his entire money, his new capital
This is incorrect. For RE investor, entire money is 37,59,979+23,16,060 = 60,76,039
One last attempt 🙂
Let us ignore rental income, taxes and tax benefits to make calculations simple.
Option 1; RE investment
1. Pay 13,00,000 initially – down payment plus registration
2. Pay 35.6K EMI for 6 years
3. Assuming, being able to sell the property for 1,00,00,000 at the end of 5 years, money in hand
= 1,00,00,000 – 35,92,098 (principal repayment)
= 64,07,902
Option 2; FD/RD
1. Deposit 13,00,000 initially in FD
2. Deposit 35.6K pm in RD for 5 years
3. Money in hand at the end of 5 years
= FD principal + RD principal + FD interest + RD interest
= 47,95,858
If you consider rent income and tax savings, option 1 would become even better.
The whole math in the original article is absolute rubbish.
I agree TOI calculation is wrong. Two points to consider.
Even if you hav 44lak in hand after investing in RD, you need to pay 56K EMI for 20 yrs , whereas the existing owner has to pay around 38K for 15 yrs only.
Under assumption the whole 50lak is increasing 15 pct, where as in RD smaller amounts we invest monthly increase by a smaller percent.Second cannot beat the first.
Now, that it is agreed that the computation in TOI is not correct, are the author’s assumption’s correct?? Is it a reasonable assumption in today’s scenario that apartment price would double in 5 years ? Secondly, we need to consider apartment repairs/maintenance and associated ownership costs. I know of two people who have made decent profits in RE. One bought an apartment for self-use (from a decent local builder)in 2004 and after staying in it for 9+ years, recently shifted to a new one he purchased. The current price for his 10 year old apartment is approx 2.5 times his purchase price(includes reg cost, woodwork,etc). A second acquaintance bought an apartment in Rohan Vasanta, Marathalli for approx 32-33 lacs(incl reg, woodwork, etc) and recently sold it for 83 lakhs.
Only thing which puts me off is the headache/(time investment) of apartment maintenance, finding an interested buyer, price negotiation including white and black component and finally the Capital gains part. Many a times I feel the amount of time spent in making money in RE is not worth the effor and tension.
35.6 lacs is not Principal amount. Principal amount is just 4+ lacs. remaining 35+ lacs principal you still have to pay to Bank.
This is for 3000 Rs psft for a 2bhk,which is not sold by any builder.Even people who use substandard materials sell above these price. Even after 5 yrs of EMI, principal reduces only by 10%, after 10 long years only 27% reduces.How many of us are sure we will have high tech jobs for 10 years .I am against RE mentality of parents. Do they want EMI slaves or savers who can withstand future financial contingencies?
Include 1) processing charges 2) Bribes 3) Unrental periods 4)Unrental periods 4) Monthly maintenance during such period 5) Waiting time till possession ->loss of rents 6) Potential delays 7) Repairing charges. 8)Your efforts for maintanence 9) property taxes. If RE in India is priced at US level, how can it sustain. As Economist Stinglitz says, thing that are not sustainable,will not be sustained. Moreover, to buy a 5 year old house at 1 crore, you need to find a person who can pay 20L downpayment and 80 K EMI . That is 1.6 Rs take home atleast.In the next 5 years, that just doubles.
Add one more very important factor. Depreciation of buildings that shud be calculated every year.
Jobless is correct,
In Re Investment,
37,59,979 is the profit for an Investment of 78,07,081 including Bank loan over a period of 5 years.
INITIAL AMOUNT – 10,00,000
STAMP DUTY REGISTER – 03,00,000
EMI OUTFLOW FOR 5 YRS – 23,16,060
TAX ON RENTAL INCOME – 01,98,923
CAPITAL GAINS @20% – 04,00,000
———————————————————————————–
Total —- 42,14,983 (your Investment amount over 5 years)
———————————————————————————–
BANK PRICIPAL — 35,92,098 to be returned after sale.
GROSS INFLOW SALE OF FLAT – 1,00,00,000
RENTAL INCOME FOR 60 MONTHS – 0,09,94,613
TAX SAVINGS ON INTERST PAID – 0,05,72,447
————————————————————————-
Total — 1,15,67,060 ( Total Returns )
————————————————————————-
Total Capital with you 1,15,67,060 – 35,92,098 = 79,74,962
42,14,983 is your Investment which will have to come back to you.
37,59,979 is your profit after removing your money and Banks money.
———————————————————————————————-
79,74,962 – Total Capital with you after clearing bank principal.
———————————————————————————————–
In FD
8,25,859 is the profit for an Investment of 39,69,999 over a period of 5 years. At the end of 5 years you will have a capital of 47,95,858.
san
Hi jobless,
I think the calculation is correct. To put in a different way:
By taking a loan of 40 lakhs over 5 years, buyer makes a profit of 50 lakhs.
Case1 : Property investment
Assumed Profit = 50 lakhs
Rental income (after tax deduction) ~ 8 lakhs
Tax benefit ~= 6 lacs
Inflow ~= 64 lakhs
Registration cost = 3 lakhs
Interest paid on 40 lakhs over 5 years ~= 23.16 laks – 4.08 lakhs ~ 19 lakhs
Capital gains = 4 lakhs
Outflow ~= 27 lakhs
Inflow – Outflow ~= 37 lakhs
Case 2: FD/RD
13 lacs + interest on 13 lacs @ 10%
RD @ 38,601 per month for 60 months + RD interest @9%
Outlfow:
======
Tax liability
Inflow – Outflow = 44 lacs
I feel the calculations are incorrect.
My comment was only on one specific entry which is the EMI outflow component. For case 2 (FD), the same amount was deposited as an RD to make the outflows same in both cases. To calculate the net, why should this component be subtracted from (1) and not from (2). Both the cases, this is an outflow.
If we are looking only at the money inhand at the end of five years (assuming outflows same in both cases which is what we tried to make by depositing the EMI equivalent as an RD), we should not subtract the EMI component as an outflow in case (1).
The only outflow difference between the two should be the final tax which cannot be made identical as profits are not equal.
Jobless is correct in calculation, Amount Invested should not be considered in both cases. In Property returns author is subtracting invested amount of 13 lakhs ,10 + 3 (Down payment + Stamp Duty) (b) from net inflow amount whereas in FD/RD returns its adding Investment amount 13 lakh FD Principle amount (a) and 23,16,060 RD Principle amount(c) in final inflow. It should be either subtracted in both to get net inflow.
Formula for House Net inflow is correct i.e. a-b + c – d – e- f -g + h
But for FD/RD net inflow should be -a+b-c+d-e
Hi Jobless and Netinflow,
Please look at the calculation in my above. In the RE investment case, the amount of Rs 23.16 lakhs (=Rs 38,600*60) is SUBTRACTED only in RE case, since out of this 23.16 lakhs only 4.08 lakhs is going towards the Principal payment while Rs 19 lakhs (approx) is the INTEREST component paid to the bank. So, the NET OUTFLOW for RE case is 19 lakhs due to the interest part.
Regarding the 13 lakhs, you can see it in this way that by taking a loan of 40 lakhs, you have made a profit of 50 lakhs. So, the 10 lakhs down payment doesnt come in the RE calculation. However, you have to subtract the 3 lakhs Registration cost from your profit.
what is the future cost in Real estate.can you pls calculate the NPV
The writer calculation is correct. But he may need to add one more component of (~70K for 5 years as interest for rental income as inflow). Tax gain (h) calculation is not clear (whether its based on latest tax exception calculation or not)
Calculation on RE as follows,
Inflow (A) (+)
Amount you get when you sell : 1,00,00,000
Rental income with 5% annual increment (15K first month): 9,94,613
Tax exception benefits : 5,72,447
Total A : 1,15,67,060
Outflow (B) (-)
Amount you paid as down payment + Stamp duty : 13,00,000
Tax on rental income : 1,98,923
EMI Paid for 60 months : 23,16,060
Capital gain tax : 4,00,000
Remaining principal amount to be paid to Bank : 35,92,098
Total B : 78,07,081
Profit= A-B : 37,59,979
Profit is around is just around 1.5 lakhs from RE, but from FD you get more than 8 lakhs.
But this is not talking about the investors investing during pre-launch and dispose the apartment on or before it is ready for possession. And again a major chunk of them dont go for 80% loan too.
To create awareness for the investors that is mentioned in the link, you need to take it totally in a different forum as they invest in residential projects of lot of grade B and C builders. In fact your service is needed for lot of these poor guys who invest in these projects, instead of good avenues available outside real estate, and loose money and also peace due to the legal issues.
I know couple of friends who invested in such project and is waiting for more than 4 years to get the possession.
BTW, Nitesh Virgin Island has pre-launched a project in the same area with starting price of Rs.4200/- per sqft. Its right on OMR though. Can we all target it??
Yes, you can if you are ready to spend another 500 – 600 psft additional extra charges.
For PT there is no club house fee. Nitish is charging 2.5 Lakhs.
Power and water charges 116000 for 2BHK at PT. Nitish, 281000.
Sinking fund 48K for Prestige and 75K for Nitish.
Car part 2.5 Lakhs for PT and 3 lakhs for Nitish.
Corner location charges with Nitish 100 rupees. Prestige, no premium charges.
I am an end user and I booked a flat in PT during the pre launch and I was planning to sell my unit in PT and buy one in Nitish Virgin Island as its right on Old Madras road. But after calculating all hidden charges, the price is about 4700psft.
…. and even after paying 4700 psft, expect DELAY of 7-8 years ….!!!!
Yeah
Nitesh means 7 to 8 years minimum
Don’t ever buy there under construction property
I think when he said “target nitesh” he meant target it as a punching bag for all bad stuff about real estate. According to vinay et al, PT stands as the project which represents all the bad things about the Indian real estate sector and generally about Indian economy and India. Any slump in real estate, wrong investment messages, natural disasters (quake, typhoon, tsunami) will affect PT and people who invested in it are selectively doomed.
I agree vinay.. RE is not the best option for investment..Let people buy and live a happy life..
Do not buy just for making money..there are lots of other ways where you can make money..
Today more than a million homes are for sale..why no one is buying..Why they are not giving it for rent ? GOI is planning to make homes affordable so that emi =rent..
This SESSION of the parliament we will get the REAL ESTATE REGULATORY BILL PASSED..ONCE THAT IS PASSED I GUESS ONLY FEW PLAYERS WILL EXIST.
If somebody has only 20% of cost in his pocket and believing himself as investor and booking properties then it would be nothing but a joke. Similarly if anybody is booking any property by paying 20% as end user which is most common in bangalore and in majority but if you keep on telling him investor whovever buys is also a JOKE.
Awesome calculation, thanks for putting all together to wake up all of us, by the way if everyone thinks like this ( FD/RD), and not taking loan from bank then how bank will generate returns to give you intrest against yor FD/RD…haa haaa wake up…what i would say no intrest either incoming or outgoing in ur life then you are KING
So you take loan so that others will get better FD/RD interest?
Ready for registration and Occupation in June 2015. Close to ITPL and Airport. All other payments have been completed. Only registration due. .
Saw the above posting in commonfloor. Its says PT is close to ITPL and airport. This clearly shows how low the investors can go cheating buyers. Desperate attempt to bring PT close to ITPL and revive sales. Wake up guys, do not be so greedy that you start getting so low in life. You will lose all respects from people.
Looks like you spend the day going through each and every PT property for sale? Get a Life. This project is already a success for actual users and these actual end users are waiting for the property to be ready so we can begin living in the homes we purchased with our hard earned money. And please stop running down investors, without investors in this economy there is no growth and development. These guys are just looking at 10% – 15% growth per year which is fair and not greedy. Go after corrupt politicians if you really detest greed.
agree with vinay..all investors wantes to make money just by hyping the demand..there are more than a million homes for sale..and unoccupied..it will take minimum 3 years to clear the inventory..
so would suggest people not to get into real estate..
Maga, please let me know if you have any 1139 sqft 2 BHK flat available for resale below Rs 3900/- per sqrft (with respective to any floor dam ground also fine)..reality matters when serious search is ON!!@
New unit sales in Bangalore have slowed down 40% to 11,519 units in quarter ending June 2014 from 19,256 in quarter ending June 2013. This has led to increase in unsold inventory to 92,263 units which is nearly 24 months’ worth of unsold inventory
Number of new unit launches has steadily come down in last few quarters in Bangalore registering only 9,746 units launched in quarter ending June 2014 compared to 26,469 units launched in quarter ending June 2013
Full report at:
http://www.proptiger.com/blog/realty-check-performance-scorecard-of-bangalore-in-the-first-half-of-2014/
Flats at PT available @Rs 3,700/- psft.
http://www.99acres.com/Residential-Apartment-Flat-in-Old-Madras-Road-Bangalore%20East-2-Bedroom-bhk-for-Sale-r1-spid-P13616967&from_src=XIDPAGE_det
Ooooh!!! after I put six months of effort in east Bangalore, finally I have booked an apartment from one of investor, feeling proud of being PT’s owner club 🙂
Congrats to the investor as well – you managed to rescue him/her from being stuck with the property for long (keeping in mind current market situation).
you made a wise decision since you work for Prestige..be happy for yoruself and let others live nazar.
Look at the paper..everyone is selling flats now at discount..
I just would like to ignore comments from rich guys or any subject matter experts or property guru/investors, no more negative comments..let me also live along with millions of other property owners in Bangalore, because its my hard earned money. if you are serious buyer, end-user, middle and average class person who is expecting/dreaming to buy/join with upper class society then just close your eyes and buy any 1/2 BHK flat from PT (less than three premium 2 BHK Flats for resale in common floor or any other resources).
Dont go with too much of market values and other parameters as we are not INVESTORS!!!
And here i am not going to respond again for anyone’s future comment.
Investors also have rights to post here in the disguise of buyers so that they can revive sales in PT. No transaction are taking place in PT for the last 18 months. Price for the last 18 month has got stuck at Rs 4,000/- psft. Investors are desperately trying to exit without any success. Now they have started posting in the forums to revive sales. I with them good luck.
Nazar..
I work in hoskote and have seen brigade projects standing tall for the last 3 years..no activity is happening for the last fw years..those places are not going to improve for another 15 years..
unless social infrastructure comes..so my ask for this PT is 2500 rs/sqft + registration..
either you sell at this price or book losses heavily..since GOI is planning to bring down the cost of construction soon
Please let us know if you’re able to buy an apartment in PT for that price. There are buyers and sellers in a market and then there are folks who sit beside the road and bark at prices and who is asking and paying what. If there is a slump the investor will have to bear it, its the risk he chose to take. If there is a rise it is again his benefit. For the home owner, her has purchased a home 3 years back for 2800 SQ feet, so its a dream awaiting to live there. These are folks who put their money where there hearts and words are. Just who are you, buyer, seller broker, prospective investor, please do clarify.
If you are working in Hoskote and you are observing the construction activity for the last 3 years and if you feel the place will not improve for the next 15 years, then why invest even your 2500/sqft.
You are willing to put your money however small or big it is as per you pocket depth, even when you say the future is bleak for the next 15 years.
san
There are 167 flats are available for sale in the commonfloor. Some of them are listed by Prestige themselves, some by brokers and some by individuals.
http://www.commonfloor.com/prestige-tranquility-bangalore-for-sale/pfbs-1rjjij
Nazar,
Could you tell me what is the price you purchased the flat for? 2 BHK or 3 BHK?
Now here’s another set of data that does not justify the prices commanded by builders today.
Amid affordability concerns, property prices are up 13-30 percent in key cities over the last two years but inventory (the time it takes to sell these flats) is almost at an all-time high. Data by PropEquity shows Mumbai has the highest inventory of 50 months, followed by Gurgaon at 30 months, Hyderabad at 27 months, Bangalore at 22 months, Chennai at 20 months and Pune at 21 months! Now add to this approval delays and cash flow constraints, which have further slowed construction progress. This in turn is putting pressure on the balance-sheets of builders and as such the net debt levels of most listed real estate players has risen. The data below shows how debt levels have risen for builders in the last one year.
Full report at:
Here: http://firstbiz.firstpost.com/real-estate/builders-piling-debt-residential-inventory-7-year-high-98601.html
Indian home prices fell most in 52 nations, IMF says
NEW DELHI: Is India’s real estate bubble finally bursting? The International Monetary Fund’s recently-launched data series on global housing prices hints at that. Among 52 major markets for which IMF has collated house price data, India has witnessed the steepest fall.
IMF’s calculation on the annual percentage change in property prices shows that prices in India fell by 9.1 per cent, the highest among major real estate markets. The fall is even worse than in countries struggling with the ongoing European Union’s financial crisis. Property prices in Greece, Italy, Cyprus, Spain and Portugal have all come down, but at a much slower rate. Ireland, on the other hand, registered a 4.3 per cent increase in housing prices.
Prices came down by 7 per cent in Greece, 6.5 per cent in Italy, 4.9 per cent in Spain and 3.3 per cent in Portugal. The annual change is calculated for latest available data or prices for the last quarter of 2013.
source: http://timesofindia.indiatimes.com/india/Indian-home-prices-fell-most-in-52-nations-IMF-says/articleshow/41381802.cms
As of today, at Prestige Shantiniketan, 442 properties are up for Sale and 524 are available on rent.
This tells the real story of Bangalore real estate: An Investors paradise, waiting to crash?
Check the link below for the latest numbers:
http://www.commonfloor.com/prestige-shantiniketan-bangalore-rent/prns-s6yjsx
Manjushree, great eye opener . And great way to use common floor
Some houses might be repetitive different agents advertising same house ,but it wont be much
Sobha Chrysanthemum also had plenty of inventory for resale and for rent in 2012, current status i dont know
Thanks Raul.
Please read my latest post on how existing “investors” are already BLEEDING profusely and how the new ones are getting BUTCHERED in the name of investment by these wily builders cartel. Why investors MUST exit with whatever profit they are getting, and soon. How a stagnant market is cutting into their last remaining profits…….
Find my write-up here:
http://harshasagar.com/2014/02/17/godrej-whitefield-road/comment-page-1/#comment-28563
( I use Prestige Shantiniketan for the case study and also similar to PT. We have 10 years of data for Prestige Shantiniketan, which makes it a good case study)
Got an offer from prestige @ 4000, planning to book this weekend. 17th floor.
Very good project at decent rate. peaceful area
Really? Please share some more details.
Rajesh,
Is this the signature tower? I thought had Prestige had sols out all the other towers and signature tower will be launched in mid-2015.
Wow!
Now even builder is offering discounts. Show this report:
http://firstbiz.firstpost.com/real-estate/builders-piling-debt-residential-inventory-7-year-high-98601.html
Take a printout, and you may get an additional discount of 200/-. So, Hurry!!!
There are no doubts that builders are in debt all over india but same blog suggest bangalore real estate market is an exception. First they are comparing last year with first six months of current so in that case there is all good chances that y2y data will be exceed last year for bangalore. Bangalore has seen maximum launches in last one n half year than any other city and still inventory overhang is among lowest. One lakh inventory unsold does not mean only ready to move in but it includes pre launch, just launched, in construction phases as well. For zero inventory you cant expect that all will be sold as soon as launched. So considering launches bangalore saw in last one and a half year one lakh is not very alarming. Infact there is no price drop but a constant price increase in bangalore. This is my observation for bangalore .
I see unusually lot of pre-launches when the market is dull. I think its due to the impending introduction of the bill for a Real Estate Regulatory Authority on the lines of IRDA. Once the bill is introduced, then I think pre-launches will become a history and I dont think there will be a long period (at least a year) when new projects wont be announced as they developers need to get all their approvals before announcing the project. So all developers are in a hurry to pre-launch their projects.
@Rajesh lol peaceful area after reading all the comments in this site? Either you are too innocent or an investor! In either ways you are folling yourselves!
Actually if you follow comments on this site, almost all projects are bad. So i went myself to check reality. Liked the area because less traffic and this road has many villa projects.
For everyday grocery definitely something will open up in next 1 year.
By name mandur and CFF looks scary but in reality situation is not bad at all, it was nice fresh breeze.
Only tier A project near itpl where i can get 3bhk in 80 lacs. And yes it looks like it will be beautiful society.
Missed Shanitniketan and metropolis couple of years back due to same negative comments.
Only -ve is that not much units lefts…will have to choose from only few available units. and most of them are on 17th floor.
Don’t lose your heart. You have not missed anything.
Look at Prestige Ferns Residency, which is not yet ready to occupy, and already 145 units are up for sale:
http://www.commonfloor.com/prestige-ferns-residency-bangalore-for-sale/pfbs-x34tcd
Wait for 1 more years, and you will get 300 units up for sale at the same or lower prices… will have a lot to chose from…
I would be interested if they give in 3600 Rs per Sqft.
Regards,
Gaurav
City’s unsold residential, office spaces running to 1,05,359 units as of June 2014
The significant build-up in unsold inventory and the availability of a large number of ready to move-in apartments in Bangalore have resulted in constricting price rise in the first half of 2014 in the city’s real estate market, according to Knight Frank India.
The Global Property Consultant launched ‘India Real Estate Outlook’, its half-yearly analysis report of residential and office market in six metros (Mumbai, Pune, NCR, Bangalore, Chennai and Hyderabad) for January–June 2014.
In what seems to be a noticeable fact in an otherwise “healthy market” is Bangalore’s unsold inventory running to 1,05,359 units as of June 2014.
“The piled-up stock relates to unsold ready-units, unsold under-construction and unsold units that were launched for the last two years, which is expected to take nearly seven quarters for its absorption,” said Satish B.N., Executive Director, South, Knight Frank.
source: http://www.thehindu.com/news/cities/bangalore/buildings-boom-but-no-buyers/article6354362.ece
Crash is waiting..there are no real buyers in bangalore..all are investors only..that too black money
government has to propose higher holding tax for all the builders and penalize the ivnestors for jacking up the price
Real state Crash in india is not possible. Because every year lakhs of people are moving to big cities and they need shelter. FYI Bangalore is now having 1crore+ population. What I expected that property price may “slowdown”(But as Modi has come in center it means more jobs and more income) which is again does not happening.
Property rates in far off location like PT needs correction. As per the fact IT parks are very far (whitefield is 15Kms+). Big dumpyard is @stone’s throw from PT, daily hundreds of trucks carrying garbage move in front of PT, near by chicken/cement factory oozing smoke and smell, high price at area where no tenant will come to stay…We need to accept the fact.
People can also look at Varthur-Gunjur belt which is 5-7 km from marathahalli, sarjapur road, whitefield and bellandur. Terrific location. Best value for money projects. Easy rental income. nearer to City. Rest is personal choice.
In my opinion, prices below 4800 per sq.ft., within city limits (5 to 10 kms from IT parks) and easy to rent or live are still conceivable. But once you cross that price range or distance from IT park, you are leaving a lot on fate. Good only for LOOOOOOOONG term investment, may be 5-10 years.
Calculation should be based on breakups. Do calculation for 1200 sqft ->if UDS is 40% 480sqft . Multiply by land price. U can say 70% of built up area . 840*1500 for construction area. Add a few lakhs for common areas. Divide the total by 1200 to get psft. Will you ever get 4800?
In one aspect going for flat itself has lot of unnecessary overheads for peaceful living.
Problem of PT are known to everyone. There are good chance of both the problem (Mandur, CFF) getting resolved in next 6-12 month.
I visited child centric homes project in Varthur last weekend. There are so many issues in that area
1. Road is very narrow, once few projects on varthur/gunjur are over. It is going to be a nightmare. There is no scope of widening as well.
2. Varthur lake is highly polluted. All project near lake are going to be not suitable for living (mosquito, stink, pollution).
3 Specific to child centric home, sterling is un-professional builder, just google and you will find out, how many people are suffering because of him so many people have lost their hard earned money on projects by Sterling.
4. I fail to understand, how so many celebrities are endorsing such a bad project.
When PT was launched in 2011 fourth quarter, I was one of the guy who visited the place and the same story was told by Prestige salesman that with in 6 months dumpyard will be shifted..its 3 years already passed and there is no chance that it will move also. Leave adjacent cement factory and chicken factory at all…they are not moving anywhere…atleast in next 10 years…Guyz please dont fall in trap of brand name and sales man promises..Friends please dont waste your hard earned money stuck in very very long term (but less return) investment.
You will find many educated fools who believe the sweet talks of the sales people and buy flats believing what ever sales people say is true.
Prestige is now gearing to launch the Signature tower and the same story will start again. Sales people will say that the CFF is going out within a couple of months and people will book the flats blindly.
lol…very true Vinay
I can already see signs of real estate slowdown and stagnant prices. This is evident from teh full page advertisements of Sobha, Brigade, Salarpuria etc in TOI on Fri/Sat/Sun. Even on this forum, nowadays I see very few inquiries for apartments above 1 Crore. The interest rates are also not going to come down anytime soon so the only way for real estate to pick up is for prices to come down which I think will happen sooner than later. However, I do see demand for apartments in 40lacs to 70 lacs price range and for villas in the 1Crore range.
agree hari to your comments..I heared that RMZ strategy is to build homes under 65 laks..else all luxury product will become ghost towns..
If a person buys a property for 2 cr..he can expect maximum 30k as rent…if we invest this amount in FD or Stock market..he or she can earn more
Is there any website we can show a count down of shifting Mandur dump yard to the world( and to the CM)?
For example:
5 months and 3 days left to shift Mandur dumpyard
People and respective authority can provide their progress/comments. What say?
I have been checking development photos in prestige website, I noticed they are repeatedly posting almost same pictures for the last three months. Is there construction happening at all?
Tower 14 is the most affected one. In 3 years they are able to make only 10 floors. God knows how many more years they are going to take to complete Tower 14. On top of that, Prestige is saying that possession of all the towers will be given together. If that happens, the possession will be delayed by almost 18 to 24 months. May God give the buyers of PT and mostly to the buyers of Tower 14, peace of mind. They will be paying full emi and rent for many more months than they would have calculated initially. But anyway, this is no way in the hands of buyers. Its risk vs luck. I wish them good luck.
Thanks Vinay,
When I contacted the prestige crm they told that possession will happen phase wise starting from tower 1-5 and later on.
I think we are getting different info from different people.
Some of the owners/investors of Tower 14 are selling their flats for 3800/- which is one and half year old price. Looks like its a panic situation for the investors of PT. Appreciation has stopped for the last 1 year. No buyers. Even Prestige is not able to decide the launch of Signature Tower as they know, they will not find any buyer.
Cost of houses pretty high, scope for reduction: RBI’s S S Mundra
Residential property prices in India have a lot of scope for reduction as supplies are sufficient, a top RBI official said on Wednesday.
“I believe there’s enough scope for housing prices to come down from the higher perch because of huge inventory piled up in several markets,” SS Mundra, deputy governor of Reserve Bank of India, said while nudging builders to reduce property prices.
The unsold inventory across top six cities in India, including underconstruction and completed properties, currently stands at around 760,000 apartments as on June end as against nearly 734,000 apartments in the previous quarter, according to property research firm Liases Foras.
source: http://economictimes.indiatimes.com/markets/real-estate/news/cost-of-houses-pretty-high-scope-for-reduction-rbis-s-s-mundra/articleshow/40513618.cms
3BHK Apartment at Sobha Amethyst for rent is 21K. How much we can expect for 3-BHK in PT by the time it completes (probably next year)
http://www.commonfloor.com/listing/3bhk-apartment-for-rent-in-whitefield-road-bangalore-at-sobha-amethyst/53ee23c021cc5
I do own a flat in PT, and in terms of rental, I feel a 1 BHK would get about 8K, 2 BHK 10K and 3 BHK about 13-15K. This is not based on Any facts or figures, but just What I feel would be possible approximately.
You can expect 35K 🙂
Did you forget to put a decimal between 3 and 5?
Puravankara Projects cracks 13% post disappointed Q1 results
MUMBAI: Share of Bangalore-based Puravankara Projects have cracked as much as 13 per cent in last two sessions after the company disappointed the street with its first quarter results.
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/puravankara-projects-cracks-13-post-q1-results/articleshow/39863178.cms
Is there any yahoo group for the flat owners of PT? Can someone send me the name of the group?
While I am not a blogger (guess am too old to adopt this style), but I owe one write up to this thread….for those who have put their limited hard earned money to buy this property to live. You must be worried…..Have many stories but here is the most relevant one: Me and many of my friends, with limited budget, bought Prestige Shantiniketan when the unfortunate building collapse event Happened. Value has tripled. But that is not important. The reason for our action is important. We knew about the builder and the vision on the project. A 10+ Acres central park is a dream in Bangalore. You know the rest.
PT was very reasonably priced when we bought. Apart from office space, it has everything that Prestige Shantiniketan has. Vast expanse of central park that will be paradise for children and elders. Grocery store, ATM and huge club house inside. Its too far for air pollution and underground water wont be there in any project so why worry. We will have to depend on Tankers and RWH store like all the projects. Chicken feed factory is the calculated risk which should go away given the land price in that area. Bottom line, if you have invested for long term (Either as investment or to live), ignore what happens for 2 years. Old Madras Road connectivity and Mega development on Sai Baba Ashram road is happening as we speak.
Now to the gentleman who does not have house in PT but writes half of the blogs here. I will request you to use your time productively. Either help community by helping people of Mundur. Or write to improve the place you have bought. You will live a more pleasurable and positive life my friend. Good luck.
Thanks Shivani, this is really encouraging for the people who have already invested.
But the fact says IT parks are very far. Big dumpyard is @stone’s throw from PT, daily hundreds of trucks carrying garbage move in front of PT, near by chicken/cement factory oozing smoke and smell, high price at area where no tenant will come to stay…please be factful instead of slamming other people covertly :). accept the fact.
Vikas, Can you throw a stone at about two kilometers away?? You are really great!
Vijay, I think you need some education that what is the meaning of stone’s throw.
LOL… “Can you throw a stone at about two kilometers away”
@Vikas, Stone’s throw is a short distance (Not two kilometers). Try to educate yourself first.
Shivani,
A very good and realistic write up, i should say…..
People here think that by commenting some negatives,the real estate prices will fall substantially and they would be able to buy a property at a discount……..
Delhi housing prices dipped 1.5% in Jan-March
http://timesofindia.indiatimes.com/city/delhi/Delhi-housing-prices-dipped-1-5-in-Jan-March/articleshow/38984836.cms
NEW DELHI: Delhi’s apparently ever-increasing property prices finally seem to have hit a plateau. The National Housing Bank’s property price index shows a marginal decline of 1.5% in residential property prices in the city in January-March 2014 compared to last year. NHB’s RESIDEX, devised to track prices of properties in major Indian cities, reflected the same trend in 13 of 26 major cities.
…………………………
Overall, property seems to be a safe investment as in the seven years for which the Residex data is available, prices have appreciated in 24 of 26 cities. Compared with 2007, only Kochi and Hyderabad have witnessed a dip in prices; Jaipur and Bangalore have more or less remained stagnant.
Mandur, Karnataka: An eerie sight of vultures hovering atop a 100-feet deep garbage dump yard greets people who come to this village, just 25 kilometers away from Bangalore. Mandur is an address no resident is proud of, with mountains of untreated waste, soaring towards the sky, seeping into the ground.
It is a war between Mandur and the Karnataka government over the dumping of garbage in this area. Chief Minister Siddaramaiah requested for six more months so that the civic bodies can identify another dumpyard. But is this a new start of the same problem? Is finding another dumpyard the real solution to Bangalore’s garbage mess?
55-year-old Narayanamma complained of acute breathlessness and nausea six days ago. Before her son, Murthy could rush her to a hospital, she died. Murthy and the villagers say – from the air they breathe, to the food that grows in Mandur to the water, all are severely contaminated.
“I joined the protest at the dump yard for only three days. And I am yet to recover from the cough and fever, I have developed. In the last six days, I spent Rs. 1000 for medicines but my cough won’t go. I have rashes all over my body,” said Murthy Raja to NDTV. Another farmer Raghu says, “The water here is black. I grow grapes and mangoes. The water doesn’t help but destroy our crops.”
Bhola – This is ok observation…Are there any IT park planned with in 10-15 Miles? I heard there are few villas also in proximity. What are there comments??
Yes, there are many IT parks planned next to the PT so that the investors of PT can exit comfortably in the next 20 years.
That is Fantastic for end users…..:) Great News..:)
Bhola and vinay,
I was looking for investing in brigade golden triangle – can you share your thought about that being on NH-4 vs PT ?
Pls revert back on serious note.I liked that project and brigade is a good brand.Is that also nr mandur dump yard ?
I am interested in Brigade exotica. Is it away from dumpyard?
I have been to this are and I feel that this area has lot of potential for growth. As per my knowledge around 10-12 thousand families will start living in this area. If you consider 3-4 people in each family around 30-40 thousand people. Every one of them needs grocery, health care and entertainment. This will create a huge demand and area will develop in no time. I think this is the right time to invest in this area.
Whatever you stated is correct and logical. But believe me, it is going to take another 20 years for the same.
Bhola, I am not sure why are you so against this area. I am sure this area will develop in next 1-2 years. I think around 2-3 thousand families will start living in PT in next 1 year. And lot of other projects will be completed by 2016. Dump yard and CFF factory are moving, New high way will be done by 2016. So I am not sure what else is stopping this area from developing.
Ravi – Everyone knows this since starting (3 years back) and all buyers are at winning situation…Please don’t spoil our entertainment…this is fun…
@Kamlesh You act very well. I dont think you are liking it fr your heart. On a separate note, I have also experienced the intense smell while traveling the place. Now coming to your point, you said all buyers are at winning position? Didn’t get that? Are you saying you bought it at 2800 odd and now can sell at 4000 odd? Who is going to buy at that price? Can you sell one at 4000 and and then post here so that neutral people like we are convinced? Recently saw Sobha city selling at 5000 at a much better location, Market is seriously down and lets see how the winning position of buyers continue?
rightly said, I dont think anyone will, not just in PT, but in that area itself , If anyone still buys, should be one who must have not done any research and blindly brought
Basic requirement is air quality, water and electricity . If the garbage dumping is stopped, then its really positive for this project. For this to happen, not just people from Mundur, the investors from prestige and other project’s in that area needs to come down and fight for it and then cherish your rewards rather than exaggerating the prices . Prices wont rise simply unless the infrastructure and livable conditions are improved
If i’m not wrong ,even the dumping started once the project began ,which the initial buyers would have never known. Remaining issues if the buyer has visited once, he could have easily noticed and is usual in cities
sobha city’s location is good??? Hah. Surrounded by graveyards. Atleast there is more chance of chicken factory moving rather than graveyards. Also Thannisandra is a very communally sensitive place; I would prefer bad smell rather than living in fear of riots considering the pace at which our country is moving.
@kiran if riots is a big issue, why so many construction activity in Thannisandra area? Graveyards are everywhere boss, it may not be there in PT as its an industrial area, but you never know, just see the area carefully. And I still dont understand why people expect to move industries from an industrial area (same applies to Brigade Lakefront also). Its like you occupy forest area and say animals are a trouble for us!
@Neutral, You are saying “Graveyards are everywhere boss”. Do you think next to a graveyard is a better location than next to a dumpyard?
@Vijay what do you think?
Sobha city is really hyped project, no one can understand why they charge so high prices without providing good clarity about surrounding areas, but for this issue investor needs to study . The land sobha must have brought for peanuts as its beside graveyard and then selling at high exorbitant prices using their brand name. I’m sure none of the current investors in sobha city project will ever trust them again, me neither. I had enquired with Vajram for one of their projects but didnt like the Thanisandra road.
I think Hennur road is better than Thanisandra
PT issue is not the same, dumping started after the project began ( please comment on this )
@Neutral, Both are not good if they are sharing the boundary with the residential project. That’s okay If your flat is located at a certain distance from graveyard and smoke is not entering your house. If you don’t choose carefully, Some villagers come out in protest against dump-yards but nobody will open their mouth against graveyard as it is a need and villages are away from graveyards everywhere. If we are closed our eyes, the builders will list graveyards and dumpyards in amenities.
I bought a flat in PT for self use at 2628psft during the pre-launch in 2011. Price was not cheap as I was getting a similar flat in Whitefield from ordinary builders. I have chosen PT In a view that dump-yard is about 2 kms away from it. PT is a 38 acre project and my unit is away from factories as it is situated in a tower near GR Sun Villas. I don’t mind if the factories and dump yard are not shifted.
Can you forecast riots? I am just saying it is communally sensitive. I have stayed in that area (tannery road, frazer road, hegde nagar) for years and I know the are pretty well. And while people castigate PT for every wrong reason they turn a blind eye to the fact that while dump yard and factories move out; graveyards and drainage naalas cannot be easily relocated. And yet people do not say anything about these projects. Selective amnesia is it?
@ Kiran Who said that, everyone knows sobha city is in between graveyard? If you say its not publicized, then thats ur ignorance. Or is it your selective amnesia?
@Neutral, CFF is moving by Feb 2016 and Dump yard is closing by End of this year. Do you think PT will be a good investment after moving these hurdles.
@Neutral,CFF is moving buy Feb 2015 not 2016
@ Ravi, give proper links if you have. uttering words has least importance here.
What is your problem @Neutral? You have a signed copy from Chief Minister saying the dump yard will move. You have a official signed letter..
What else you need. Do you want chief minister to come to your home and take your blessing to move the Dump yard?
You go to CFF factory parent company and look in to their future plan and find out.
Go and do google search .. May be you dont know how to do that too .. that’s why you ask for link ..
@Neutral, We have written letter from CM saying that it will move by end of this year? Do you have any proof saying it wont ?
@Ravi, we do have written signed letters for metro phase 2 to be started by Dec 2013. Have they started? We do have boards at graphite India junction saying the flyover to be finished by 2012. Forget it even it didn’t start. And be more polite in answering questions. I was thinking about booking one in PT, but seeing the arrogance of investors, I am thinking twice now. In google search, you will find many things, how much is reliable and not reliable. Your shear arrogance show that you have booked in PT and struggling now 🙂
Please no one is struggling. When I called up PT last time for the TDS stuff and asked them why they have not raised the base price I was told that it was out of question since they did not have any more apartments to sell. Now contrast this with the likes of other prestige projects like prestige lakeside or sobha city where ads come out once in every week. Have u seen any ad for this project? Yes as buyers we do get perturbed when we see one sided discussions almost bordering on naricisstic rants saying how people are stupid to have bought an apartment here. When the seller is happy and buyers are happy, I wonder why the third guy on the street is so unhappy.
@Neutral, I always write polite answers. But you are the one who crossed the line with words like “uttering” . I was sharing the information that I have and whats available on internet and other blogs.
Imagine that Dump Yard and CFF moves before PT possession. In your humble opinion Do you think PT will be a good investment?
The problem with this community is that you can post as anyone. There must be a registration in place before posting the comments.
@Harshasagar, why dont you move it to the next step of making this forum similar to team-bhp, so that there is genuine and healthy discussion?
@Ravi @ Kiran @Kayaar Leave it guys, let the blog be like this so that people like Vinay and Bhola can be free to comment and a neutral guy like me can get some info and decide on whether to buy or not. Otherwise this will be like an advertisement for the property. And to Ravi, my humble opinion is PT may be good for investment purpose (not sure though with so many good project launches in better locations in Whitefield latest being Assetz Marq), but for a person like me looking for end use, I think not appropriate. Anyway it was fun reading through all these posts.
Once upon a time Whitefield itself was a forest and a dumpyard….just rewind 30 years backwards.
30 years back , many developed places in India belonged to forest area
But if you take Whitefield today, is there water available in this area ?
@ tony, whitefield was a proper village and not forest and never a dumpyard. Infact almost all of whitefield was farms. Dont mislead people.
How do you know there was no dumpyard in whitefield? When we moved into HRBR layout 18 years back there was a huge dumpyard behind the fire station. It should have been atleast 20 acres of land. And HRBR layout was a BDA layout. And I remember whitefield when I used to visit Sai baba ashram in 1998. The ashram was virtually surrounded by all kinds of factories; they seem to have disappeared. I wonder how many years you have been in Bangalore to forecast the rate of growth and patterns of growth in the city.
@ Kiran,
I said Whitefield was never forest and dumpyard. I have been in Bangalore for 30 years and know whitefield quite well. I never talked about industries! Please study ones comment before jumping into it. And who commented on HRBR layout? When we talk about oranges, don’t bring apple into the picture. Now since you have good memory, name the factories around saibaba ashram please.
@neutral. My point that HRBR layout being a planned BDA layout had a dumpyard in the middle of it. And with development it went away. We always learn with analogies and extrapolation 🙂 And regarding the factories around sai baba ashram I remember one distinctly “empee breweries” or something like that. old timers can vouch for that; it was bang near the railway line towards the ashram. I heard they have shifted to Kolar.
Not sure what are we trying to prove through these endless chain mails . If buyers are convinced that their investments have grown from INR 2600 to 4000 in 3 years, builders are left with no inventory to sell , then why others( who have no stake) need to argue unnecessarily ?
My only advise to all such folks is that please suggest alternate projects that can give similar returns, comes from No 1 builder with world class amenities & ready for possession in 10 months ? Name those projects if you are really concerned please else don’t blog just for the heck of it
People are booking Shriram Greenfield apartments @3400/Sft and its possession is end 2018. I have not seen a single bad comment on their blog, If you compare Shriram Greenfield and PT any one with right mind will go for PT. I am not sure why people are so negative about PT. I don’t understand their point of view, If you don’t like the area then we should have all these negative things in all other surrounding projects. But no ..all the negative things are projected in PT.
Why some people are projecting PT as worst project in the world.
If you look at the return and end product which we will get, Its much much better than any surrounding projects.
you crazy?? 20 years?? Come on brother.. are you still living in the 5th Century BC???…you can reach the moon in 3 days these days!
Any junk yard can be converted in to a city in a month these days.
The entire sai baba ashram road was a mud road just a few years back. I remember similar negative discussions about the construction of the railway flyover construction few years back. One group of people speculated that the railway flyover will never be constructed and the hosakote road will never be tarred …but 6 years over and now we have a lovely road and a flyover in place.
In the same way all radial roads connecting the airport will develop. Name one Prestige property that is constructed in an underdeveloped locality? First prestige comes and then the development follows..that is the trend. Same trend for any other big developers like Bridage et al.
I have been following your negative remarks for quite some time now! Go and get a life buddy..!
I have done my research and i am now in the process of investing in PT. Really good investment in the long term. In another 5 to 6 years, this property is gona be a prime property!
The only negative factor is the chicken feed factory.. which will eventually get relocated. If you know in KR Puram.. there were many such industries that got relocated after Bridage and Prestige Shantiniketan started their projects.
thanks to Bhola , Neutral! & co.i have just purchased a flat at PT.
best purchase imo……
@BBS Congrats! Have seen a real gem of a person now 🙂 I hope you bought at 4000 and think that as the best purchase! Awesome bro!
Neutral – We all know you are very happy :). Vinay & Bhola, the PT experts are not sharing any valuable info now are days……
@Kamlesh, not as happy as you the few privileged first customers of PT who are trying to keep the spirits high. Yes I did consider PT quite sometime back and even few months back, but dropped the plan seeing the speed at which apartments are sold at Pashmina Waterfront, Brigade GT and PT 🙂
BBS,
If you don’t mind, could you pls share the cost at which you purchased? Is it a premium inside facing flat?Which floor?
Thanks
I’m not an investor in Bangalore, but I did research many flats in and around Bangalore from 2011 to 2013 Jan until I left for US. During my research days I used this website to learn Bangalore reality in a more realistic manner due to owner feedback on previous projects constructed by these builders.
Today I thought let me go back to those old links in Harsha Sagar
Really surprised by comments from Vinay and Bhola . I agree with you on your points, but just worry about yourself brothers. You need not worry for others. I have travelled in my two wheeler every nook and corner of Bangalore searching for the best apartments as I had to fit it in my budget.
Provide good suggestions and then leave. All have their intellectual thinking capability , risk taking ability and some of them have their stars luckier than us, but we need not pester others by bringing overall negativity into it. Forget the NRI investors, but there are few people who have really invested their Indian salary and made investment and many might be first timers also , Don’t hurt them please …
First flat is like a dream for many, once the first token amount is paid, you are literary living in it
My reason for not investing in Bangalore is simple, no fresh water connectivity, and lack of pubic transport in majority of new projects and I cannot risk my small savings money at this age of 28 . I’m not so foresighted also to know what will happen after 10 yrs in some project’s . Basically my risk taking ability is poor
But I have seen many areas developing in Bangalore during 2007 to 2010 , especially Whitefield area as I was working there and literally I missed the opportunity to buy in Prestige Shantiniketan when the prices fell during the incident , If I recollect I could have got a 3 bhk for 60-65 lakhs when one their under construction building fell .
We shouldn’t be fighting here but support each other as we are investors and not big builders and lobby teams
Tomorrow newer areas will develop and you can invest there , you don’t have to worry about others suffering , as every investor is thinking differently , some peoples click , others don’t.
My personal favorite was Sattva Gold Summit but my budget was not sufficient to buy it all alone , still love it.I saw this building when I met Raghu from Orchid woods and was even trying to raise fund for the flat facing Salarpuria but didnt work out as my Dad invested in Mumbai and I had to pay 30% of the overall investment
I just felt to write these , please dont take revenge 😉
vow, well said rahul. i liked the every point in your comment. there are people in forum who will be trying to bully you, but ignore.
Your statement “I agree with you on your points” gives me all the energy that I need to keep bringing truth about projects. I do not care what others thinks about me, I will keep writing whatever truth I come across. I have no problem people buying at PT, but they should know all the positives and negatives so that no one take them for a ride.
Dear Bhola, its fun to read your comments- makes our day seriously. You should be given a nobel award for being so concerned about all of us. Your selfless & ready-to-give-advice attitude is praiseworthy.
Only disconnect is you make little sense. 🙂
Also I heard you have your own 1 BHK apartment at Mandur that you are trying to sell for 6000 psft.. is that correct ?
Seriously, the investors of Prestige Tranquility are so insecure about it, they keep hounding people who raise points against it; The only reason many invested there i feel was that the launch price was so low for a brand like Prestige; i was getting an ~1800sft apartment for ~50lakhs+reg at launch time. But my reason for backing out was the area was not livable being industrial.
The investors are playing games to keep the appreciation going and to cheat other buyers with their bullying tactics; i dont think any end user would want to buy there.
People who can put money in and wait endlessly for all the negatives to go away can only invest; and not people who seriously want to live there; this is a fact no one can deny.
Yes, we dont know what percent of house is for end use
In Bangalore, builders need not do marketing, investors will it for free
do we have any other thread related to Mundur area investments. This is simply spoiling PT thread, we have other projects also in that area
I think Bhola and Vinay should start a new thread on this, interested people will join
Get ready to have a lot of health problems if staying in PT as there is big dumpyard there. Further it is very far from whitefield or any techpark so it is not advisable to purchase at such high price where health problems come free.
@Viksah
I want to purchase an apartment in Brigade Exotica. What is your opinion regarding that development ?
Bhola – Your efforts will definitely make difference to society 🙂 Keep entertaining. Anything new for PT??
My posts are certainly not entertaining for the investors. The moment I write one line, I get many back to back responses from the investors of PT.
Bhola – I don’t know about others but I am one of the investor and I really enjoy your comments. I am 100% clear that you know that none of the PT investor is losing here, it only a matter of variance in profit expectation. Also, If get office in whitefield or nearby area, I will definitely be using his house for self. Believe me if some of your type people will stop commenting, many of us will stop looking to this website.
thanks to Bhola’s comments….made me visit that locality and see for myself the development of that area.
After seeing the locality myself, i decided to invest in the property myself!
Great strategic investment for those of you who are looking for appreciation.
If you can list down the development things that you have seen in your visit to the area, it would be of great help.
In my visit, I did not see anything but only factories and industries.
Everyone please ready
http://articles.economictimes.indiatimes.com/2014-08-05/news/52470987_1_credai-purvankara-projects-tulip-infratech
would this improve builders deliverables?
Here’s one more set back for the buyers/investors of PT:
http://timesofindia.indiatimes.com/city/bangalore/Mandur-creaks-under-citys-waste-burden/articleshow/38446362.cms
BANGALORE: Every spell of rain brings in more misery for the residents of Mandur village. With heaps of garbage continuing to grow in their neighbourood, chemicals have failed to stem the foul smell enveloping the village. And the promise of the state government and BBMP to reduce waste dumped in the village remains on paper.
On June 16, chief minister Siddaramaiah had struck a deal with striking Mandur villagers that dumping would be stopped by this December. The BBMP was told to look for alternative sites for dumping, set up bio-methanization units to process wet waste, increase the number of dry waste collection centres within the city so that waste to Mandur can be reduced.
A month on, the BBMP has not zeroed in on any alternative land for garbage disposal. BBMP sources said site-searching missions to places like Kolar and Doddaballapur have been in vain.
NS Ramakanth, member, BBMP solid waste management expert committee, said there has been not much progress on decentralization of waste processing. “Only two of the 16 bio-methanisation units proposed are functioning and they process only about 5 tonnes of waste. At this pace, it’ll take at least a year to put the rest in place,” he added.
Manjunath Rao, a Mandur resident, said the village continues to receive over 200 truckloads of waste every day. “Residents continue to suffer health problems and these are only increasing,” he added.
BBMP commissioner M Lakshminarayana said they need at least one or two months to establish bio-methanisation units and increase the number of dry waste collection centres. “We’re confident of reducing waste going to Mandur after a month,” he added.
dude..cool down.. i have a questions for you..is your problem with Prestige or investors..
what is your exact problem..
people have invested assuming these things will go away and unfortunately they are still there
things will happen but will happen slowly in this country.. this is something all of us should be ashamed of ..
I am neither an investor in PT nor I belong to Prestige or any property agency..
So you are a new character in this forum. Welcome.
Bhola is intrinsically an unhappy person. I can sympathise with him though; the inequalities in the society cause lots of prejudices and inequalities and this can alter people’s mind. But nothing can be done other than accepting it or becoming a revolutionary to change it. Just posting on websites do not make or break things 🙂
Bhola-O-bhola,
As you say people are fools to buy there in PT, even though you pointed out all the negative aspects of it, which you claim no one likes to talks about. Now you have done your bit buddy, but people are fools and they will never change, they still keep buying, but I don’t understand how can you be such a bigger fool than them trying to elude everyone, going over again on the same crap.
I am no way related to PT, but looking at your posts, if I am provoked to comment on this, then I can imagine the frustration of the people who have put their hard earned money.
If it is just your intention to frustrate people who have already invested, or someone close to you have got it, but you missed to buy, then I would say you have done a decent job. I hope by saying this, you might be bit relieved. 😉
So my dear friend, give a break to yourself and to all the fools around, everyone knows you have made your point. After some years(or whenever, to keep you happy), while the residents would are living there to their own satisfaction , I hope to see you in some other thread/forum cribbing over some issues of some other flat…
I know you would hit back, get it on mate, I have nothing to lose 😉
Good luck buddy.
Hi
We are selling our 3 BHK + study in Prestige tranquility 13175, west facing and east facing balconies overlooking GR sunvillas and Pruksha silvana. 1820 sqft area.
If interested you may call 9902169352.
Thanks
Uma.
For the last 2 years you are selling 3-BHK apartments in PT. How many flats are you holding in PT?
Uma,
You should have taken written permission from Bhola and Vinay before posting the add.
Anything which happens related to PT, should be informed and accepted by them.
They don’t have a life, other that tracking PT news.
Is the signature tower launched? what is the current sft rate?
Signature tower is getting launched at Rs 6,000/-, however they are still selling the other towers at Rs 4,000/-.
Some of the salient features of Signature Tower:
1. Very near to the main road. Good for accessibility point of view
2. Centralized AC, to give relief from the CFF and relief from the mandur dump yards.
Thanks Bhola
Garbage village Mandur has 375 sick residents
BANGALORE: A health camp conducted by the government at Mandur on Monday found that most of the 375 participants are ill. The participants — residents of the village and neighbouring settlements — were found to suffer from various ailments which include respiratory problems, skin diseases and continuous headaches.
source: http://timesofindia.indiatimes.com/city/bangalore/Garbage-village-Mandur-has-375-sick-residents/articleshow/37108358.cms
Thanks God. Finally govt conducted this camp. This report will go to high court. Government has given written undertaken to shift the dumpyard in next 6 month. Although it is 3-4 Km from GR villa, Pruksha and Brigade Triangle, PT, Brigade exotica, yet it it good that it will be shifted.
Ha ha, you guys are good in dreaming. You chalked out a plan for the future course of action? excellent.
For your information, in 2011 itself govt planned to shift the dump yard and they asked 1 year time for that. If can see your calender, its 2014.
Good news for Vinay. Shriram Properties is going to launch “green field” project next to Tranquility. He will get another reason to crib about 🙂
http://shriram-greenfields.propertytimes.org/.
Oh BTW, happened to talk to a Nitesh marketing guy over the weekend. They too are planning to launch a mega project on NH-4 near to Budigere junction. So more reasons to crib coming in the future :)….
Nitesh project is 0.5-1 km from Brigade Golden triangle towards Budigere
I think it is an 8 acre project.
Did u not read the news that there will be no dumping there after 6 months? And the dumping is being phased out already.
Dear Vinay, you forgot to include the second half of the news
” Dr Chandrashekaraiah, however, said such health problems can’t be associated with the garbage menace. “We need a detailed study and medical examinations before concluding such things,” he added.”
Guys,
Today while coming frm airport in taxi, even with the windows turned up, within the car , I was almost about to puke due to the terrible smell in that area.
Smell started near the mandur village and almost right upto the stud farm at left side of road.
I wonder how people will stay there. I wish the prestige high level people and the so called smart investors are made stay in those flats.
The investors who knowingly have played a part in pushing the projects in this terrible area plus the ignorant and. Naive, happy go lucky people who purchase flats in this area are all to be blamed for whatever health hazards eventually happen in this stretch of land.
Sorry for the harshness but people must be blamed, not prestige.
Kr,
Prasad
Half of Koramangala is built up next to drain & one can’t stand that smell. Same for Indira Nagar – Diamond district is next to a drain. You can get the stench sitting in Royal Orchid. List is endless. Wonder why people NEVER have any problems with such localities?
So why Mandur people are protesting? Please go there and tell them what you said here. Karnataka govt will be very happy with you and they may even recommend you for award from President of India.
Diamond district is pathetic in terms of smell! But i tried to get an appartment there… could not buy because it was way beyond my budget. I was willing to pay up to 80 lakhs in cash for a 3bhk… but i was asked close to 1 crore!
You might be right. That is why, Mandur people are protesting. Now govt has given written assurance to close it in next 6 month. If this at all affect the area (Brigade golden triangle, Brigade Exotica, GR, Pruksha), this is a good news for thousands of future residents who are going to move to this area.
Vinay you do not have to be very pessimistic. Things change. Mandur is going to close in next 6 month and Chicken feed factory lease is going to be over in next one year. You looks very interested in this area. It is a right time to invest. You are wasting so much of your energy in researching about Budigere area, you should reward yourself with some good investment. Anyway now Shriram is also coming up with thousands of new flats.
Ittium
How long have u been staying in Bangalore? I have been for the last 40 years. Seen diamond distrcict coming up near stinking naala, seen a jungle called whitefield develop into a cbd, Witnessed a jungle called bannerghata turn from elephant camp into human settlement. These are temporary factors mate. The only factor is that Bangalore has seen a 100% jump in population due to immigrants and housing is a necessity here. ANd this area shows promise.
You are not supposed to talk any negative about any project. If you got bad smell, close your nose and drive away. Why you have to come here and report? People here will tag you as competitor if you talk anything negative. Only see the positives and write that only.
that is why Prestige guys are called developers. They invest and develop places….convert them from dump yards and smelly factories in to livable areas.
As usual, the investors jumped in to protect their investment with all types of arguments.
I did a lot of research and finally decided to invest in Prestige Tranquility. Based on some information i got from sources that i can’t disclose… the govt has got lots of plans in that area and has a great potential for appreciation especially for those early investors. The fact that there is a dump yard close to PT and a chicken feed factory by the side is just a temporary hurdle that is currently being worked upon. Once these issues get addressed.. then PT will be surely remain a dream for those who had not invested early.
@Joji: What is the big deal in revealing those sources 🙂 Govt had lots of plans for bangalore in general. For ex: Graphite India flyover was sanctioned in 2011, its 2014. Hopefarm junction is supposed to be like hebbal flyover. Let them complete all these before moving to a completely under developed area!
What is the connection of Graphite India flyover to PT? Government can prioritize the development of PT because some of the great investors of our country have bought flats in PT. Government will not let their investment go to drains. After all government is for the development of people.
Well, there is no big deal…which is why i am not bothering to reveal. If there was a big deal about that i would surely have revealed. 😉 :-))
Well, i don’t think they will ever complete… but for sure they will touch upon all the places, which is sufficient. Afterall tell me what development government brings to a place other than roads and flyovers.??? Its the private people who set up hospitals, schools, and shops that make the place a good place to live in.
As far as Budigere is concerned… all it needs is a hospital, a school and a few malls..and a few office spaces. which i am sure will happen eventually. Now don’t ask me when.
@Joji, keeping egos apart and investment gains apart, frankly tell when will PT be a liveable area? 2 years from now or 12 years?
PT is livable from the last decade itself. If monkeys can stay there, why can’t we. After all monkeys are our ancestors. Jai hanuman!!!
There are 150+ families already living in Pruksa villas next to PT. Every month dozens of families moving into this community, some of them are renting it out as well.
Bhola baba – The Pessimist, if it’s not suitable for you to live then you can live in your Palace. Why are you bothered about others and why are you spending so much of time in criticizing PT.
We know that you live in a Palace where there is no Air pollution or Noise Pollution. Please send us your address so that we can visit you and see what we are missing.
Two years??? But CRM people says that the possession is going to start from the month of march 2015. Not going to happen is it ?
Vinay…..thanks for the info….I have heard that front road will get broad…..can you pls check and confirm if there is any news….
Our friend Vinay conveniently filters out news on road widening, World trade market opening up across the road, Aero park getting approved, Dump yard shift getting a formal nod in writing, from the government, Construction in final stages & entering the last year etc. All what he remembers to share is that the Mandur garbage dumpyard is right between PT’s club house & swimming pool 🙂
Prestige sales guy would have told you that the road would widen and you fell in trap. Every road in Bangalore will widen for sure, but when may be after 1 year, 10 years or 20 years. That nobody knows.
But why you are worried about the road widening. Is the current road is not sufficient for you to drive your car to and from PT? By the way, its already 3 years since the pre-launch and till no sign of road widening. People like you spread rumours and others fall in that.
I do not assume things like you guys. Neither do I believe sales people and investors. I only talk about something which is a fact and and solid news in newpapers and all.
By the way, did you get any buyers for your apartment. 100’s of enquiries, right?
Yes dear I are getting ultimate response on this property, high returns that I have invested. We also got the info that the signature tower is launching soon on higher rates…so put on hold :)…BTW do you think will prestige be able to sell signature tower or not?
As long as people like you are there in the market, prestige can even sell the mandur garbade dump.
Bhola – We understand your frustration. There are few more in this forum, you are not the only one.
I doubt if you have any understanding capability. People with good understanding capability do not buy houses near garbage dumps.
Bhola – Rs 2600 to 4200/4100/4000…:)
No one is buying at that price. Its only on paper. People are not fool to buy houses near garbage dumps at such a high prices. I have seen some of your investor partners trying to sell their apartments for the last 2 years and they are not able to. Keep dreaming.
My dear friend, people who really want to sell they are easily getting buyer for this property & people who do not have burning desire to sell they are all waiting. I will suggest you try some good property consultants, there are few more good properties prestige have in pipeline, which can give good returns.
Mr Bhola, What price are you ready to pay? 2628? LOLOLOLOL!!! Get a life man …someone put in his hard earned money and if he is expecting good returns on it, whats your problem? And if he is not getting it, what makes you super excited about it? What interest do you have if someone has bought 2 or 3 or 100 flats in PT? What interest do you have if anyone is trying to sell a flat for last two years and not able to offload it? Why do you keep spamming the forum with useless talks? Why?
Bhola – Nitish Builders are launching a property near to PT at very very low price… will they ever able to sell…huh..try it buddy don’t think too much..it will pacify your frustration.
Was wondering that New Baldwin Int’l school is even closer to Mandur as compared to PT. I guess its midway, however never heard of any sickness etc for children going to that school. Any comments ?
Did you ever go and asked the parents of those kids? or someone should report it to TOI for you?
FMK – If the Kid’s parents says no they did not had any issue….some of our friends :)will go alongwith with their family doctor and certify that they are correct..:)
and some folks in this forum are sick already despite not being Mandur residents
Ha ha!!!… Well said FMK. In fact it reminds me that the doctors in the Mandur health clinic pointed that the health problem of the Mandur people was also contributed by psychological factors.
Mr eggy. With what psychological factors you bought apartment in PT? Did you think of making tons of money with your investment in PT and now left no where? No buyers for your apartment? Or do you still believe some psychological factors will convert your apartment from stinking house to gold house.
Agree… even more people across Bangalore have health issues due to pollution from the smoke emitted by the cars and trucks running on the roads… dust and noise is another health hazard. But that doesn’t stop anyone from working in Bangalore! :-))
Hi
I am an NRI and invested in PT tower 2 2bhk. Can anyone talk about the construction status?
Any idea when can we expect the possession ?
thanks
Quoting a genuine news:
“Chhattisgarh: 6 dead, over 30 injured in gas leakage at Bhilai Steel Plant
In the biggest industrial accident in recent years, at least six employees of Bhilai Steel Plant were killed and over 30 injured after a gas leak on Thursday night. The victims included two deputy general managers.
The incident occurred when repair work was being carried out in a section of the plant. Sources said a blast furnace reported leakage, and when officials and firefighters reached the spot, there was a blast in a nearby pipeline.”
source: http://indianexpress.com/article/india/india-others/five-killed-in-gas-leakage-at-bhilai-steel-plant/
This is the risk people will have living near industries.
Vinay,
I don’t think you understand the difference between small scale industry and large scale industry. There is a huge difference between Steel industry and a food processing unit.
What are you trying to prove here.
By your words, You cant live in any major city as the crime rates are very high in all major cities and risk of you getting killed will be statistically very high.
I was considering PT for sometime now (to purchase directly from Prestige) but have decided to not go forward. It doesn’t matter what was the reason but price was definitely not the reason as there is nothing cheaper than this when you compare with similar brand and size.
I just want to put my point here that this forum is for “potential buyers” and not for brokers/investors. A potential buyer would then be an investor and hence investors can share the positive thoughts but they can’t bully others who have decided otherwise. I am not posting here the reason why I have decided otherwise but that doesn’t mean everyone else should also do the same. I feel there is lot of vested interest on both sides and my take is that there is more vested interest on the brokers/investors side.
Many brokers/investors here ask others to not write anything against PT – on what basis do they demand this? If someone is giving factually wrong information here – you then have every right to counter it but you can’t bully people around or ridicule them. If only positive information is all that you need then you please start a groups for investors and share only the positive information and “ban” all negatives. Many who visit this forum won’t even leave a reply because they don’t have time and they just got the necessary information already. Some stay back and write lot of negative posts mainly because of the “bullying” by the brokers/investors. They take it personally and start writing every smaller negative points to prove the investors wrong.
I feel this can be stopped by just responding to factually incorrect posts and not to bully everyone who has done some research and have posted their genuine concerns here. People are not going to blindly believe this forum and they are going to do their own research and they will find which side of the story is correct and which is not. So, let’s not take this personally. PT may still be a best buy but people visit this forum to read about the negatives (mainly) of any project and then do their own research. We can’t deny them that “right”.
Good post.
Same thoughts from my side as well.
Those who invested/bought property, stop bullying others who post negative comments. If you have any point-to-point rebuttal to the negatives, please post them.
Bullying the negative comment writers only increases the negativity about your investments.
I too visit this site to know about the negatives of projects and not to hear too many pleasant things from those who invested; the pleasant things can be heard from the sales persons at the site as well!
If the matter rests at plain criticism and negatives, it would not be a concern, but these people are posting comments against people posting selling offers accusing them of greed statements like “your greed has blinded you” We’re talking about people wanting a lakh or two over accepted rates and they are greedy. The Extent of Criticism is almost activist like. Posting Links of Industrial accidents?? This is an apartment complex not a steel plant.PT is indeed a great project in the simple fact that is is about 12 KM from whitefield and was launched at a price no other reputed builder could beat. Even now at 4000-4200 PSF this is by the far the most value for money project one can find in Bangalore. People who stand for the project are not salespeople but people who’ve put their money into this project, home buyers and investors as this is sold out in most of its entirety. Yes, the project is in the vicinity of a Dump – 3-4 KM and yes there are factories nearby, But there is a possibility that the area will develop into a good residential area since anything else near whitefield right now is going above 4500-5000 PSF. I’m an owner in PT and I stand for this project just like 4 other folks in my office. We picked up flats together because it was affordable and value for money.
Dear Ajay, writing substantiated facts is absolutely fine & well accepted. What’s not amusing is when folks try to manipulate statements to their advantage.
We all agree there are a couple of industries around & site is a few KMs away from Mandur, but when we try to sensationalize this saying ““Chhattisgarh: 6 dead, over 30 injured in gas leakage at Bhilai Steel Plant” or ” Till date only 850+ flats are sold out of 2300 and they are finding it hard to sell the remaining inventory. ” that’s what invite reactions, because its all being done with ill intention.
Regarding Mandur, the good news is Govt has formally agreed to provide an undertaking to close this issue in 6 months time. See below –
http://economictimes.indiatimes.com/news/politics-and-nation/garbage-issue-government-to-give-undertaking-to-mandur-residents/articleshow/36666583.cms
There are 10,000+ houses +villas coming in that area, so obviously there is some merit in the location. Already 1000+ families are staying around PT so the area is habitable, Prestige is undoubtedly the best builder of South & property has appreciated 60% in 3 years, World Market is coming across the road, Aero Park & road widening approvals are through. Aren’t all these positive indicators that all PT owners be proud of ?
Every project will have positives & negatives & each buyer does careful evaluation against the offered price, before making any investment. In case of PT, long term positives definitely outweigh the short term negatives.
I also challenge all those who disagree with above, to name 1-2 projects in similar price range, which are more superior in terms of brand, location & amenities. Share links to prove it & then lets discuss
PT rocks !!!
Good news for some, not so for others http://www.thehindu.com/news/cities/bangalore/mandur-impasse-ends-after-govt-commits-in-writing/article6123873.ece
People visiting this forum, kindly note that two of country’s leading environmentalists have conducted extensive research and found PT to be a hazardous zone. It is located in territory which is housing some of the most dangerous waste producing pharmaceutical, chemical and biological agent manufacturers. This area is totally unfit for survival of any life form on earth. Our scientists strongly recommended to STAY AWAY from this project.
And let me intimate you folks. These scientists have searched and researched every square bit of Bangalore. Every square inch of Bangalore (except 2 KM radius of Mandur Dump Yard) have been found to be extremely safe.
Have a pleasant stay in Bangalore.
Please note – all services and recommendations from our scientists are totally and absolutely free. And if you need to find the habitability index of your area absolutely free, please call 1-800-BHOLA-VIJAY.
Thanks to this forum and some internal info I got regarding budigere development…. I bought a flat at tranquility for rs 4000psqft.
Is a very strategic investment !
Hi, Can anybody validate the fact that the higher floors in PSN fluctuate? and also what does it mean? Does it mean it shakes or vibrates? I have not lived at higher floors in bangalore, hence want to be sure that buying a higher floor in PT will not have an issues.
Besides that i am looking for a 1139 sq ft in PT towers 6 to 9 preferably between floors 4 and 8 at basic+ floor rise+ premium + transfer fees + TDS if applicable = 4000 per sq ft fully in cheque.
Genuine Interested sellers pls publish flat number and contact details. Brokers please excuse.
I have two BHK (1087)for sale . I am looking for 4100/- . Please connect if interested .
9880227180
Others are selling for Rs 3,500/-
See the link below:
http://www.99acres.com/Residential-Apartment-Flat-in-Old-Madras-Road-Bangalore%20East-2-Bedroom-bhk-for-Sale-spid-Y14405979&from_src=XIDPAGE_det&pos=SEARCH?sid=UiB8IFFTIHwgUyB8IzMyIyAgfCAyMiMyIyB8IE8sQSxCICM4I3wgIHwgTyxBLEIgfCMyMiMgIHwgNTU1NiB8ICA=
Mandur tense after senior citizen dies
BANGALORE: A 75-year-old woman died in Mandur on Thursday, sparking off a flash strike by residents who blamed the death on pollution caused by garbage dumped in their village.
http://m.timesofindia.com/city/bangalore/mandur-tense-after-senior-citizen-dies/articleshow/36456245.cms
Note: This is not an assumption or guess or any story. This is a true news. There are people in this blog who may say that this is a fake news for vested interests.
Good….so some thing is going to change
I take this opportunity to thank you so much for the kind service extended to society and nation. I would like know your (and hopefully Bhola’s too) other areas of interest so that people can benefit from your vast knowledge and wisdom.
Bhola/Vinay,
You guys are not interested in buying PT and you have no idea how many apartments are sold. You just say PT project is the worst project. Then what are you doing in this blog.
If I am not interested in any project I would not waste my time in that project blog.
I really doubt your intention. I think you guys want it and can’t afford it. This frustration is leading to all these negative feedback.
If you don’t want it why you did so much of research and still wasting your time here.
I know it’s one of the best available projects. I have been to PT location. I have spoken to lot of people who knows the quality of Prestige Project and every one suggested me to invest.
The other side of the coin – When there are several grade-A projects in bangalore, why few folks are very particular about criticizing this one particular project? Though some of these folks are very pessimistic and discouraging each and every project, I didnt see so much of discussion happening on others.
Yes, I agree with you. So we should have these negative comments for every project in that area. But we don’t see Bhola and Vinay writing any thing on other projects.
I dont understand whats the reason for Bhola/Vinay targeting PT. I respect the individuals opinion about the project. But I really don’t like people writing some negative comments with bad intention.
Dont you think they are going little extreme in criticizing. I am in this forum because I am interested in this project .. But whats their purpose?
Consider they want will being of people in that area then why they are not writing anything on the other projects in that area.
I respect everyone’s opinion and that’s what we wont in these forums. But I really dont understand these guys.Why they are investing so much of time in this project forums.
If you don’t like any project then you write your comments and move on to other project.
And you could only afford PT because this is the cheapest project in-spites of all the health hazards. When you can’t afford something good, you have to settle for less and keep justifying for the same. Normally Prestige price their project more than the market rate in that area. Do you guys have any idea why Prestige priced PT so less? Even they did not know that people with herd mentality will come in large numbers to buy flats near factories. People went in large numbers because of so low price and they thought the industries will eventually move out and they can make money. The entire area has been marked as industrial area and instead of factories moving, more factories will be setup there. Prestige management is not fool to price a project so less of this size and magnitude.
Vinay, You have no Idea what I can afford .. 🙂 so dont think if some one buys PT does not mean that’s the only property they can afford. Any one who has invested money in PT has earned a good profit so far and I believe this project is gone be similar to PSN. The end product will be one of the best place to live in Bangalore.You note this day and we will talk in 2 years.
When PSN stated many people argued the same thing that It will be waste of money .. no one will stay there .. its out side bangalore .. Now you see .. its one of the best projects in Bangalore.
Vinay, There are many construction happening in this area and may be around 10-12 thousand families will start living in this are in next 2-3 years. This large population itself will attract lot of investment and surrounding area will develop with shopping complexes , hospitals and schools.
Why argue with illiterate people …. Just ignore them!
No doubt prestige is a very good investment… I did my homework and I already bought mine few days @rs4000psqft….
Few years back there were lots of industries in KR puram area and all got shifted when people started living there. So no worries! Just be patient!
just ignore… dont waste your time.
PT is the worst project among all the prestige project. Till date only 850+ flats are sold out of 2300 and they are finding it hard to sell the remaining inventory. Current investors are not able to exit the project and that is reason there have been no price appreciation for the last couple of months.
Even villagers are aware of the harmful effect of the garbage dumps and have been protesting but so called educated owners of PT have been negating the effect just for their personal gains so that the property appreciates and they make some money.
Once the Project is completed Mr Bhola and Mr Vinay will have to eat their words. Prestige Shantineketan level quality at such a low price will be value to many people. Garbage Dump is more than 3 KM away from PT. We wont mind living there, in fact looking forward to it.
PT is worst project in Bangalore/India/Asia/World/Galaxy…
Mr Bhola and Mr Vinay, go and have a life now… You are free…. see carefully you will have a halo on head now….
@MJ Prestige Shantiniketan Quality! Thats itself shows the quality of PT 🙂 PSN is a place where lifts will breakdown, 13th floor fluctuates in the air like hanging gardens. Guys visit PSN, dont care about amenities, but go to any flat and see the quality.
On a separate note, Mr Bhola and Mr Vinay are not complaining about quality, but about the problems being in an industrial area. Garbage dumps may be kms away, but what about factories sharing the boundaries? Same is the problem with Brigade Lakefront (may not as severe)
Have you ever calculated the profit earned by the investors in PSN. I don’t think it was a bad investment for investors and residents.
Every large project will have its pros and cons. Its important to note that all investors in PSN are very happy with their investment. At least I consider PSN as a good investment.
Now coming to the quality of the project. I heard good and bad about the project. But most of the residents want to continue staying there.
@ Raja, Nobody questioned about the profit. Humans are just so cruel that they just care about profit only even if its built sacrificing the life of so many people.
On a separate note, we are talking about quality and not profit. Have you ever cared about profit earned from a Tier 3 builder at a good location? I had a 2 Bhk from not even Tier 3 builder and got it for 25 lks 5 years back, sold now at 85 laks. Even if I add loan burden, its much better profit compared to these Tier 1 builders, where you have take that huge loan. I am talking about end users not investors!
I have never seen any resident complaining about the quality of project. Its the people out side PSN complaining.
I have never seen any one leaving PSN for quality reasons. Have you.
I know few apartments have some problems with water leakage problems which was fixed in time. And I believe these problems will be there in any project.
What do you mean by “Humans are just so cruel that they just care about profit only even if its built sacrificing the life of so many people”. Did PSN or Prestige killed some one to build their apartments.
There have been few accidents in PSN because of individuals mistakes, that doesn’t mean that PSN is a bad place to live.
@Raja Open up boss. See the world from neutral perspective! Just talk to residents of PSN and get neutral feedback. When i pay 1 cr I expect some premium specs in there which is lacking in all of the 1cr projects currently running! Were you not aware of lift broken in PSN? What about the entire building collapse? Read this the incident if you are ignorant or seems to be acting like one: http://www.hindu.com/2009/01/14/stories/2009011459940400.htm
Why_fight, I believe PSN is one of the best community to live in.
There is no point in arguing as the demand and appreciation of PSN value prove my point.
Yes I accept that there where few accidents in PSN. These have happened in many other projects in Bangalore and all over the world.
If you don’t like PT or PSN you don’t buy it. Its as simple as that ..
@Raja, Buying and not buying is not the issue here and this forum is about pros and cons of each apartment and I am not here to argue. I just answered when I felt a neutral perspective is required and as I said many times before this is not a public forum and you can’t stop people from putting facts straight.
Please give us with suitable links about similar other incidents in Bangalore (forget World). Dont just make statements without proof! Give us proof.
Why_fight – i presume you do not travel in Volvos because Volvos caught fire recently. I presume you do not even travel in Railways because horrible train accident have happened. I presume you do not fly because flights vanish into thin air. I presume you do not go in cars because cars from every manufacturer have caught fire.I presume you do not visit the market places because bomb blasts have happened so often in such crowded places. Oh yes. I know you’ll not own a prestige property ever in life because one building under construction had collapsed. Sigh!
@Navdeep, Good sarcasm and dont think that I am embarassed by that.I have put facts in front of you when some one compared PT with PSN. I didn’t say anything about Prestige quality in general. And to this specific comment you made, I understand that you are one who does everything thats written there and still feel lucky 🙂 And why dont you add this line also to that, I dont want to have birth, because death is for sure. Give good solid facts and comment and dont spoil your name for making such stupid comments.
@Navdeep, And if it hurts you so much, then there is something for sure. And neutral people like us understand it much more boss!
Why_fight. Good that my post caught your attention. Firstly, please accept my apologies, I didn’t intend to insult you in any way. HS doesn’t allow one to edit the post otherwise I would have gone and deleted that. I accept my mistake. Sorry brother for that.
Your posts show that you are a very wise man, and I am sure that you know and realize that reality is never out there in black and white. I am surprised how learned people keep on portraying only one side of reality while giving a totally blind eye to other facts.
I would be glad if people like you while criticizing and telling people that boss by purchasing flat in XYZ builder you are making biggest mistake of your life, also tell people that see this guy ABC is the best quality builder having no issues in his or her construction.
I am sure you know a large percentage of houses/apartments are built in Bangalore by encroaching and filling up the lake beds. To me that poses bigger risk with rains softening up the ground below and causing stress issues in structure.
Agree, PT may be located near to a dump yard which may or may not close down. It is in industrial zone. But what do you have to say about the projects that are next to filthy stinking lakes, which are fed by city’s liquid waste and carry the hazardous chemicals from textile industry and builders selling them as “premium” apartments?
There are projects being sold next to crematoriums with smoke of those dead bodies burning entering the houses. There are projects right next to the quarries. There are projects that have roads going right through them causing serious issues. There are projects having high tension wires going right through them. Projects near to hazardous EM radiation zones. There are plenty of builders who haven’t delivered to commitment and cheated people. There are many projects which get stuck in legal issues related to ownership. There are many more who don’t build according to the plan. You can find ton of projects with such issues.
Every project will have some fly in the ointment. It doesn’t stop people from taking it as their homes. But when someone starts to target one single builder and one single project, it automatically creates suspicion that people have malicious intent. If your concern is safe housing and malicious practices by builders, please start another a new thread or start your own blog and write proper pros and cons of each and every project. We seriously need such informative blogs and posts.
Why_fight, I never denied the accident happened in PSN. My point is the end product that we received is up to my satisfaction.If you ask most of the residents you may hear the same thing . And Its very difficult to satisfy every one.
These accidents happen every where .. If you search on internet news section you will get lot of search results and I am not interested in proving that under construction accidents happen. If you don’t wane accept it its up to you.
Why_fight, I am not trying to prove anything here, Just wanted to say that under construction accidents are very common .. May times they don’t make any news until some one gets hurt.
Just for your info following are the under construction accidents.
http://boston.cbslocal.com/2014/03/20/2-hurt-in-construction-accident-in-chinatown/
http://www.hindustantimes.com/india-news/many-trapped-as-bridge-collapses-in-surat/article1-1227874.aspx
http://www.ptinews.com/news/4814769_Man-killed-as-under-construction-wall-collapsed-on-house.html
http://www.thehindu.com/news/cities/bangalore/ground-floor-of-building-under-construction-collapses-in-bangalore-five-injured/article5037728.ece
http://www.thehindu.com/news/cities/bangalore/3-killed-11-hurt-as-building-under-construction-collapses-in-kengeri/article4991566.ece
@ Navdeep No problem man, I am in general a positive person and your wordings are taken in the right spirit. There is always a tendancy to criticize somebody like Prestige/Sobha/Brigade as they are called Tier 1 builders and they have to set some standard. But I feel that standard is not achieved in PSN.
@ Raja, What I was saying is if PSN was sort of benchmark project for Prestige, then all these incidents should be avoided, please dont compare that with Tier 2 or below builders as they are not taking as much money from an end user as these Tier 1 builders take.
Visit PSN during rains and you’d see the reality of Prestige’s flagship project!
Dear Rohit, none of the houses are water proof unless you are staying in one ? Water logging is quite common in Bangalore & you can see across all posh areas including MG road etc
Convince anyone to sell their 3 BHK at PSN at even 1 Crore & you’ll know what I meant.
Its very unusual. Not everyone will be lucky like you making such huge profit with an unknown builder. You are 1 among 1000 or might be 10,000 🙂
@KayAar that shows your ignorance!
No point arguining… there is no one video on youtube that has all likes with no dislikes no matter how good it is made. So is the case of PT. Leave it as is.
Hi, Can anybody validate the fact that the higher floors in PSN fluctuate? and also what does it mean? Does it mean it shakes or vibrates? I have not lived at higher floors in bangalore, hence want to be sure that buying a higher floor in PT will not have an issues.
Besides that i am looking for a 1139 sq ft in PT towers 6 to 9 preferably between floors 4 and 8 at basic+ floor rise+ premium + transfer fees + TDS if applicable = 4000 per sq ft fully in cheque.
Genuine Interested sellers pls publish flat number and contact details. Brokers please excuse.
@interested buyer, go ahead man between 4 and 8 it wont vibrate, I am talking about >11 🙂
Bhola/ Vinay,
I think you might be living in best location and best flat in bangalore..
You guys are the expert….I am planning to buy 1 more flat….any suggestion…..?
Since you are fond of garbage dump and its smell, I can suggest you Pashmina Brookwoods. This is much near to the Mandur garbage dump and has appreciated almost 55% in the last 2 years (from Rs 2,780 to Rs 4,200). The smell will be more stronger and so is the appreciation. Buy this one and you will not repent. You will get thousand of reasons to justify why it is near garbage dump and its benefit. Some if its benefit you can highlight as (while selling your apartment in the future):
1. You can simply throw your garbage from your balcony to the garbage dump saving precious time and energy.
2. You can get free cooking gas from the plant that is going to be setup by the govt.
3. You can get free drinking water along with the Mandur villagers that the govt is supplying.
4. You will have less guests coming to your house saving your time and money.
Vinay, He wants to buy a property which he likes and He is investing his money. You are reacting as if he is taking your money and investing it.
Vinay, We all know you dont like PT project. Thats perfectly ok . You buy the property you like and you can afford.
May I ask, which property you have purchased and At what rate you purchased it?
May I ask you how much you are getting paid by Prestige to write only the positive stories about PT. I am only highlighting the negatives because they are never spoken by the builder and the owners. I have no bad intentions. I want people to know both the positives and negatives and take decisions. People are not going to buy or sell properties based on my comments. People are going to verify each and every thing before buying. Why are you getting so much hurt if some one starts highlighting the facts. There are people in the forum who are only talking about the good things of PT because they have vested interest. Allow someone to talk facts also and let people verify and decide what they want to do.
Why only PT. Because I have done a full research on PT as I was interested in this project in the beginning and later decided against it because of all those negatives I came across. I have personally verified each and every thing and have gone to PT many times. Finally I bought in Prestige Park View near Hope farm junction which is, in my opinion, better located and its near to my office and no factories near by, better connectivity etc. Let me know if you want to know anything further about me.
I was seriously considering PT along with my cousin who recently relocated from singapore…. but after reading so much -ve, i thought to verify and here are some inputs:
I visited the site, it is too long from any development which can be said livable (seems to get the daily need you need to drive 10KMs).
though there was no bad smell on the PT site, when i crossed a school which was half Km from PT, very bad smell every where till next 2-2.5 kms. I think if the wind flow is towards PT, this can be felt there as well. I am not sure this was from any factory or the dump yard though.
Currently many folks are expecting 400-4200 psqft, which seems ridiculous man…. I could get projects from T1 builder, in hennur/sarjapur main road for that price, which will be completed in next 6-8 months. no need to tell about the develpment in those area. I believe it take 10+ years for budigere to be developed like Sarjapur or hennur road. they are 10-15 kms from majestic/mg road, near to metro route, ORR, ….. where the budigere stands as of now….. 30 km from majestic, 25 from mg road :-),
No offences….. i am not here to decide about the worthness of investment here…. just my personal thought as a end user
” I could get projects from T1 builder, in hennur/sarjapur main road for that price, which will be completed in next 6-8 months”
Arnav- please enlighten us with the names of these T1 projects at Hennur selling at 4000.
Guys,
I have purchased in PT for end use and i can confirm the concerns raised by Vinay is genuine.
Yes, Mandur currently a dumpyard is 4-5 kms away from PT.
Yes, PT is surrounded by factories and a bad smell is there most of the time.
Yes, PT is currently approximately 10kms from any real civilization and far from MG road and Majestic.
But here are the reasons i purchased:
1. Prestige is a tier 1 builder and I will never get a Prestige project at 2628, which was within my budget
2. Secondly with the good connectivity to KR Puram it takes hardly 10 minutes to commute this 10 km which is the same time i take to reach from Marthahalli to KR Puram.
3. I expect Mandur dumpyard will be gone, which will happen within this year.
4. The factories will sell out due to the rising land value due to ongoing development in this area which should take max 5 years.
5. I dont want to stay in an overcrowded place like Sarjapur, which is middle of whitefield and electronic city(this is the USP of sarjapur), but wanted a middle for whitefield and manyata.
6. PT offered ample amenities
Now it is upto an individual whether they want to go ahead or not, based on their preferences. I felt it suits me and i purchased PT for end-use.
Vinay, I think you have your facts wrong, This area will be converted to Recreational area in near future. Otherwise BDA will not approve such large projects in this are. Every known builder has project or property in this area. Do you think you know better than the BDA and top builders. As I told earlier, in next 2-3 years around 10-12 thousand families will move in this area and they will build a large market demand and surrounding area will develop very quickly.
May be you are in business of writing in forums for money not me. I have better things to do. But I am not gone keep quiet when some one talks with half glass view.
“This area will be converted to Recreational area in near future.” – is your assumption.
You know something called CDP 2015 of Bangalore. In that, this area has been marked as industrial. CDP is revised every 15 years. That means, at least, for the next 15 years, the area is going to be industrial. I am not as good as you in assuming things, but after 15 years this area may be converted to residential or may be kept as industrial. This depends on the govt. Please find sometime to read about the CDP and then come and debate with some valid data. Dont always keep guessing in the air.
Vinay – What rate you got in Park View? How many cricket pitch, play courts, parks, Amphitheatre, children play areas are in this Property? Actually, the problem with Main road project is sound pollution…. I got one more from Salarpuria in the Main road but regretting it due to sound pollution…You need to do more research before investing in main road projects…
@Kamlesh Patel, Boss PT is bang on main road as well! There is lot of airport traffic in addition to the pollution from neighboring industries.
Why_Fight – The tower that I have flat is more than 500 meter from main road. So I have no issues with noise pollution. Garbage dump is 4-5 KM. Industries are there, but do you think the people living around this location are all sick. Moreover, I am neutral on the property as every property has its good and bad, is based on priority and budget of buyer….I actually feel pathetic about frustrated fool’s who have not invested in right time and spreading negativity of the location. 🙂 🙂 🙂
Park view is not on the footpath that you will get sound pollution. Even with that sound pollution is much better than stinking garbage and smoke pollution.
You know what, a slum dweller cannot live in a Palace. For him a slum is more vibrant than a Palace. He will have cricket pitch and lot of other facilities in a slum but in a Palace, he will miss all these things.
Vinay – So what is the rate you got for Place in Park View :)?? If, there is good appreciation, we can invest there, so that we can recover the loss we had in Tranquility? 🙂
Prestige Park View is not selling for Rs 2,628/- nor it is near garbage dump. So it will not match your budget and taste. As I suggested earlier, go for Pashmina Brookwoods. It will give you better returns.
VINAY – Check this out….someone is putting wrong info…any expert advice..
http://www.thehindu.com/news/cities/bangalore/mandur-impasse-ends-after-govt-commits-in-writing/article6123873.ece
Vinay – I really enjoy your comments Vinay and gained interest in harshasagar.com. Just curious to know how do you research property, do you Google as “Property near to Garbage” and then start visiting there or Pashmina Brookwoods and Prestige Tranquility are selected in your lucky draw to research 🙂
ONLY BUILDERS, BANKS GAIN WHEN YOU TAKE LOAN TO INVEST IN REALTY
http://epaper.timesofindia.com/Repository/ml.asp?Ref=VE9JTS8yMDE0LzA1LzA2I0FyMDIxMDM%3D
Kamlesh Patel : 9663100550
Following are the details of my property in prestige Tranquility, Bangalore.
Flat no. 3051 & Area : 1991 (Tower 3, 5th Floor, 1st Unit)
Rate : 4200 (Including – Floor rise and transfer fee. Excluding – Car Park, Deposits, VAT & Reg )
This is premium flat – Pool/Clubhouse/Landscape/Fountain/play area facing. Open both sides.
Builder is selling at 4000. Why someone would buy from you at 4200, just curious to know.
By the way, for the last 8 to 9 months price has stuck to 4000. Zero appreciation for the last 8 to 9 months.
There are two reasons. First the builder is giving the base price and he will add floor rise. My price is inclusive of that. Secondly, they have few leftover options and mine flat is having Premium location facing Pool/Clubhouse/Landscape/Fountain/play area facing. Open both sides. Hope this clarifies. Also I am not clear on what calculation your used to calculate Zero appreciation.
it’s an unnecessary fighting, see rate is depend upon ur negotiation, luck.
In brigade metropolise rate is going on 6000-7000 something but my friend got it on 1610 aq feet 3 bhk on 75 lakh+registration , yea it’s market value is something 65 lakkh, same thing with brookefield keerthi flora apt, rate is some thing 6000 sq feet but my another friend got it in 60 lakh including registration, because buyer in financial crunch and she want to sell.
sorry market value of brigade metropolise 3 bhl some thing 95 lakh and keerthi flora 3 bhk something 80-85 lakh
Hi Sapan,
When did your friend close this deal? around last month I got into negotiations with multiple sellers but could never manage anything better than 108-110 for a 1610/1630 unit , if it is a recent purchase then it is a steal even at 95…either that or I screwed up bigtime 🙁 … stunned
@ Vinay, Builder has only 12 flats left (Plus Signature tower that he is yet to release for sale which is expected to launch at 5K) . Most of these 12 flats are 3 BHKs on the 19th floor & in the price range of 4200- 4350. You may want to call Prestige to validate that.
I have a very simple question for you. What makes you hang around in this forum when neither you own a flat nor intend to own one ?
From your comments its clear that you consider PT as the worst project on earth.
Further, I don think you are a qualified blogger or a property consultant either, so fail to understand why are you still hanging around ?? Are you jobless & do this as a passion.. or you like being an unwanted advisor … or in search of a killer deal ?
3 BHK flat for Sale at Prestige Tranquility of 1991 sft in 16th block mid floor.
Price: Rs 3,500/-
http://bangalore.olx.in/3-bhk-flat-for-sale-at-prestige-tranquility-of-1991-sft-in-16th-block-mid-floor-iid-617007340
@Naveen, Thanks for posting the link. Next time, read the complete details not just the headline. Actual price is Rs 3500/psft + transfer + floor rise + car parking. Did you ever think what the end price will be?
It will be Rs.3750/sq.ft(including transfer and floor rise) + car parking. Still a good deal for the buyer. However they need to check the direction facing and other factors.
So finally…you are buying this one……congrts..or will wait for price to go down further in next couple of years….
Do you think I am fool to live in midst of garbage dump and factories. i will better live on rent than living in garbage dumps.
Dear Vinay / Bhola, is Brigade paying your brokerage in cash or cheque for spreading rumours & negativity ? We know you missed the opportunity to invest at 2,628 & now frustration is creeping in when prices have crossed 4,200 in 3 years.
Go & look for some C grade builder or continue on rent- buying Prestige is not your cup of tea !
PT rocks !
I dont know about PT. But what I heard directly from the mouth of an investor is that he invested in Prestige Glenwood (which is 2km from this project) without visiting the location as he was abroad. Now he repents for it. He says the location is not good and he wont be able to sell it for next 5 years. Otherwise, he is a loyal investor to Prestige and always invest in Prestige projects.
Belief in myth gives people the confidence that real estate prices will continue to go up forever. In Japan this led to people taking on 100 year home loans, confident that there children and grandchildren will continue to repay the EMI because they would benefit in the form of significantly higher home prices.
A similar sort of confidence was seen during the American real estate bubble of the 2000s. In a survey of home buyers carried out in Los Angeles in 2005, the prevailing belief was that prices will keep growing at the rate of 22% every year over the next 10 years. This meant that a house which cost a million dollars in 2005 would cost around $7.3 million by 2015. Such was the belief in the bubble.
India is no different on this count. A recent survey carried out by industry lobby Assocham found that “over 85 percent of urban working class prefer to invest in real estate saying it is likely to fetch them guaranteed and higher returns.”
This is clearly an impact of real estate prices having gone up over the last decade at a very fast rate. The confidence that real estate will continue to give high guaranteed returns comes with the belief in the myth that because population is going up, and there is only so much of land going around, real estate prices will continue to go up.
But this logic doesn’t really hold. And if real estate prices could fall in Japan, even with the so called scarcity of land, they can in India as well.
Economist Ajay Shah in a recent piece in The Economic Times did some good number crunching to bust what he called the large population-shortage of land argument. As he wrote “A little arithmetic shows this is not the case. If you place 1.2 billion people in four-person homes of 1000 square feet each, and two workers of the family into office/factory space of 400 square feet, this requires roughly 1% of India’s land area assuming an FSI(floor space index) of 1. There is absolutely no shortage of land to house the great Indian population.”
The interesting thing is that large population-shortage of land is a story that real estate investors need to tell themselves. Even speculators need a story to justify why they are buying what they are buying.
Vinay – You are not fool but seems to be funny character…if you have decided to buy, then why are you thinking of living in rent……you can get good apartment in MG road or Koramangala or Indranagar or near any rose garden…:)
On a side note, I think it is sachin_federer who has rechristened himself as Vinay. Just a guess!
You guys know only guessing and keep denying facts. Good! keep guessing.
Owners of PT are fighting for the removal of the chicken feed factory that emits very bad and harmful smell. But is it possible to get the factory removed? The factory was there much before PT came up there.
I did some research and found that, in addition to the chicken feed factory that shares its boundary with PT, there are dangerous chemical/medicine factories within 2-3 KM radius of PT and some of them are:
1. Glaxo Smith Kline
2. Halosource technologies
3. Grindwell Norton
4. Om Pharmaceuticals Limited
In addition to all that, the garbage dump in Mandur. Dumping may stop after may be 1 to 2 years but already dumped garbage is going to be there fore-ever. It will be health hazard to the people staying in the radius of 3-4 KM which is going to be there for decades. There are already reports saying that the ground water has got contaminated.
As some people have already pointed out that some labours working in PT are falling sick due to all these problems. When I remember Bhopal gas tragedy, it scares me a lot. One of my relative had died in the Bhopal gas tragedy. Is it wise to buy and stay in PT? Balanced and unbiased comments are welcome. Please do not try to justify that people are living in Pruksha silvana and all.
Dear Vinay, if you think by cooking up stories & scaring residents with your baseless theories you will get a steal deal then I’m afraid my friend that its not happening.
We have seen enough folks like you who try to act smart by throwing unsubstantiated comments in various forums, but eventually don’t get a discounted price.
You can perhaps request for a discount instead & if you’re lucky, someone might oblige you.
Thanks but no thanks !
Dear Mr ZMK, these are facts and not stories and even you know it if you own a property there. All the facts that I mentioned are easily verifiable unless if someone is blind.
By the way, I forgot to add the following factories:
1. Apoorva food processing unit, just next to chicken feed factory
2. Eid parry
3. Rajesh garment export unit, next to PT
4. AND the more dangerous one, the small but big another garbage dump just opp of gridwell norton. This is in addition to the mandur garbage dump.
I have done my research very well and open for any debate, if anyone is willing to.
@Vinay Excellent feedback, the so called Tier-A buyers have a feeling that even if they buy near garabage dump, its a heaven. I understand the frustration of 2300 buyers now!
Folks,
Lets not get into fight here. Let us all give the facts and suggestions. When we are not sure lets make it a question for other genuine buyers to find an answer. Ex: In Prestige Sunnyside, folks raised concern about the effect of substation near by. I did my due diligence by talking to an electrical engineer, doctor and few others before concluding that the substation is totally harmless. Went ahead and booked an apartment there for end use. Also informed the forum about it. But one guy was unnecessarily creating panic wthout real facts. I replied to him with real facts but he was saying the same point agan and again without revealing his details. You can see the discussion in PSS forum. I ignored and stopped responding to him. Like that, let all us put real facts with data points. It’s upto the genuine buyers / sellers t investigate and then take a call. Let’s avoid unnecessary spat without actual data. I know this is not teambhp but lets try to make it as close to it.
Very well said Mr. KayAar. Its up to the buyer to verify all the reported facts and then take an informed decision. Buyers do not merely depend on harshasagar for making any decisions.
Vinay, Excellent responses. Vinay, I really appreciate your strive in educating readers with never say die attitude, I did found same results as you to stop my friend who wanted to invest to leave there. Good news is he got convinced and found a better place for his family.
Vinay,
All these are very old issues, nothing new. Everyone is aware that factories are present in and around PT but it doesn’t make the area hazardous. The fact is that the entire area is planned to be developed as residential area in near future and all factories will shift sooner than later. If you talk about ground water quality, in true sense majority of existing bangalore doesn’t have clean water for drinking available. So, what are you trying to point? You are blowing this out of proportion and if there was no negatives it would have sold at Rs. 5000 or even more by now. So all your monologue will not influence a genuine buyer.
Cheers,
Who told you that the area is planned to be developed as residential area? The area has been marked as industrial area in the cpd 2015 plan. That means industries are going to be there for a few more decades. Do not try to misguide others just because you want to exit the project. Please refer to the cpd plan 2015 and then come and debate with some facts and data points.
@Andy, if these are old and known issues, why do you bother to react. Mr Vinay is only highlighting the knowns issues only.
@Andy, Agree with you on the rates. But are these points raised by Vinay to be discarded so easily. If you see Pruksa Silvana selling at all inclusive 1.08 cr (negotiable), there is something there. On 5000 psf, I dont think anything after Kadugodi flyover is selling at more than 4500 psf! I do feel that the stretch after kadugodi flyover till atleast Alpine Viva is very well developed residential area. Can you throw light why they are not selling at >4500 psf?
Dear FMK,
If you are confident that you can sell your apartment at a high price then why do you bother replying to negative comments. In general I have seen that you try to potray a very rosy picture for PT while disregarding all the negatives. Any project will have its positives and negatives and one should have a balanced view.
Dear Hari, first of all thank you for keenly watching & following my comments. I am impressed.
To let you know, I have purchased for end use so I am not here to sell it .
Also I purchased it after a lot of due diligence & am a part of a lot of PT forums, so guess I am more updated on MY future society than the ones who are eagerly sharing stray remarks without complete knowledge.
Each society will have positives and negatives & the very fact 2000+ families have chosen it a home and value has appreciated by > 60% itself speak volumes. We don’t need any more stray advice.
PT ROCKS !!!!
Dear Vinay,
Where were you when 2300 of were buying flats there.
I have been crying and repenting after reading you message.
Damn, we 2300 fools…
Anyway,,. its a beautiful weekend,,, why dont you take a break and enjoy…
Try Meeting Positivity…its a lovely thing.
Cheers
From 2300 less wise people….
Negative * Negative whether associative or commutative is positive Happy Singh!
@Happy Singh, Its your time to enjoy the lovely atmosphere because once you move in to PT, you will have to smell all those garbage and smokes. Till that time, you may enjoy the clean air. Have a nice day.
ha ha ha!
Harsha you need to have a like or upvote button too for the comments.
After reading most of the comments I am pretty sure this place is swarmed by loads of marketing guys from Prestige group.
They launched this project three years back at 2600(I decided not to buy it, I was looking for my end use), considering most of prestige group project 2-3 years back were launched at 4k or higher rate. I am pretty sure the guys from Prestige themselves were not sure of the project thats why such a low price from a developer which tend to overprice at atleast 1000 Rs higher than prevailing rates in nearby areas.
I dont know about smell and all. I visited the place, frankly speaking budigere area will take another 10 years to develop. Its to far from everything. PT will just be a ghost city with only investors flats.
Also all this talk about secondary airport road is just a hogwash.
Govt. in order to protect the interest of developers of newly built elevated expressway to airport will not even think about any secondary route to airport.
Dear Vinay,
I have been living in Bangalore for quite some time now. Just like you, I used to scoff at various new projects which were seemingly outrageously priced and badly located. Few years down the line, things changed drastically and i have been forced to eat my words, while people made money investing in same very projects. You are free to keep posting all the negatives that you can, believe me, I have been doing the same few years back. But, all I can say you in the end is – all the best brother. You are going to need a lot of it.
Navdeep
So you mean to say, close your eyes and buy worst of worst property and simply hope that in the coming decades it will be better place to live. right?
i want to sell my apt @ 4300 all inclusive.
apt no 1147
level 14
tower/block 1 (premium)
area 1153 sft
pool facing.
contact me on 9844051502
pavan mehta.
Hi
We are selling our 3 BHK with study 1820 sqft flat -13175-tower 13, 16th floor, facing pruksha silvana villas, price Rs 4100 -including, floor rise, transfer. If interested you can mail me at .
For more than a year you are trying to sell your flat and is still not sold out. Some one in forum tells that PT is one of the best project. PT rocks.
Hi i have 2 bhk 1139, tower 6 flat no 2 facing inside, 11th floor, price 4100/- including floor rise, premium facing and transfer fee. Interested call on 9611686565
Ibrahim,
i am looking for 2bhk in 3800psqft, max cash settlement. let me konw?
I wonder how the owners are quoting 4100-4200 psqft, while prestige itself is selling 2.5BHK for 4000 psqft (see many ads in various classified portals).
Anyway….. still looking for a premium 2BHK deal around 3700-3800….any offers…
Hi Arnav, you may want to get your facts right. Prestige as a policy does not sell directly in open market, so not sure where you got the info that Prestige is selling 2.5BHK for 4K psft ? Anyways the current base price with all adders, is 4200 for premium apartments on middle floors. You of course will find transactions happening at a different (lower or higher) price point but those are one off deals depending upon tower, location & floor
I can assure you, that you will endlessly wait for 3700 price point & by the time you realize that its on the lower side, prices would have moved by another 10-15%
i think my fact are right :-), you can see those adv in common-floor. i am sure there is a wide price range in which deals are happening and 3700 is not un-realistic as i get many offers close to this.
my only question in the forum is…. why there is no demand for 3BHK, and people are quoting even 3600 for the same…. Please dont question who is quoting 3600, search the net, you will find few….
@FMK, it looks like Prestige shares all their policies with you and you seems to be knowing Prestige more than even their MD.
If they do not sell the apartments in open market, where do they sell?
@ Arnav call on 9611686565 or give your no
Hi i have 2 bhk 1139, tower 6 flat no 2 facing inside, 11th floor, price 4100/- including floor rise, premium facing and transfer fee.
pls contact me, i am interested, can find my email id in below thread.
my contact no is 9611686565,
Hi I am interested in a 2 bhk apartment at prestige tranquility. If any owner is looking forward to sell his property there please contact me at ambika dot prakash at yahoo dot com
Thanks
Amit
I have 2BHK in prestige tranquility 1162 sqft.in tower no 1 12th floor. My base price is 3800/sqft. Interested buyer can contact me .My e-mail id is and my contact no is 9008761209
Hi,
I am reading the posts here since few days, and developed interest in this project. I have visited the site this morning, and found it fairly OK for living purpose 2-3 yrs down the line.
Now… I am willing to buy a 2BHK apt (preferably inside facing & D-D1 type), if someone is willing to sell at reasonable price, pls contact me(No brokers please).
thank you.
Hi I have a 2BHK. 1162 SQ FT. 10 th floor, in Tower 7. Please provide your email id so that I can send the price breakup. I want to sell this as I hv booked in shapoorji pallonji..chamrajpet which is close to my office.
hi SK,
interested in your flat . Pls email me the details.
Regards
Vivek Nayak
Hi Please send me price breakup to my email ID.
I too interested in your flat.
Hi I have a 2 bhk type F, 1162 Sq ft on 10th Floor. Please let me know if you are interested. Post your email id so that I can email the price break up and then you can see if you want to proceed with it.
I am interested, please let me know the price.
Hi Kulkarni,
I’m interested in your 2 bhk. Please send me the price breakup.
Regards
Vivek Nayak
M 98805 94962
Please send me your offers (to sell) @ superb0009 at the rate yahoo dot com,
I expect to receive some realistic offers which can be converted into deal.
Hi Jitendra, tried emailing you but the email bounced back. Email I had was .
Please send me a test mail in . I will respond. We can discuss on the price.
typo…sorry
jit_awasthi at the rate rediffmail dot com or superb0009 at the rate yahoo dot in
have sent you a test mail also, pls check.
Guys Dont buy this Property. Its really a waste of Money. There is Garbage dumping done in the Backyard that is nothing but Mandur which just 1 Km from this property. Still the Govt of Karnatka is not cleared the Dumping which is from all parts of Bangalore. SO THINK BEFORE INVESTING
I am back with some more insider information – Bhola
Within 2 days there were 6 ads from owners of PT selling their apartments. PT owners are desperately want to exit the project but they are not finding any buyers. Obvious reason looks like the stinking factory just next to the project.
____________________________________________________
I am selling my apartment in PT. Complete details are given below:
Size 1636 sq ft – 3 BHK
12th Floor, Level 13, Tower 3, Unit number xxxx
Inside pool/garden facing
Not on Bank loan
Expected Base Price Rs. 3900/- (Non negotiable)
Premium View, Floor rise & Parking additional as per original plan (Parking 2.5 lakh)
I will bear the transfer charges.
———————
I am looking forward to sell my 2 BHK which is 1139 Sqft and in Tower 2. It is on 13th floor.
The expected base price is Rs. 4000/- per sqft.
You can reach me at ——— or at ——— in case interested.
———————
Would like to sell my apartment in 15th tower 6th floor. Inside facing with swimming pool and club house view.
Please send a mail if interested to —–@gmail.com. Or call me at —
———-
I wish to sell my 2 bhk apartment (1153sqft), in Tower 9 for 3950/sqft, facing towards sun villas.
Looking forward to make an immediate settlement. Interested parties may respond soon.
————–
I am planning to sell my two bed room apartment, please let me know if any of you or your friends to buy.
My Apartment is Tower 1, 4th floor,
—————————-
We are planning to sell our 3 BHK Flat in PT. Flat no : 13163, Clubhouse/pool facing, 15th floor.
If interested, please call us at : xxxxxxxx for details.
_________________________________________________
Great compilation of 6 examples Mr Bhola. Get another 4 & make it 10
Would you want to review a similar list of >1900 examples @ PT who are NOT selling ?
Not sure what are you trying to prove in this forum by giving so called ‘insider ‘ information? You are just proving yourself to be a desperate outsider, I guess !
No offence intended in case am sounding blunt…. I am just making my point.
Mr FMK, prestige has sold just 850 apartments in PT and they are strugling to sell the remaining inventory. 1900 is just jacked up number by marketing people like you. Good luck in achieving your target for this month. Do you think people of bangalore are fool to buy at current price near disease causing factories. You cannot make others fool beyond a certain point.
Dearest Mr Bhola, as an owner I’m struggling to discover your real intent for entering this forum & making unsubstantiated remarks. I cannot even refer you as a broker from Brigade, as they also keep polished guys
If units sold were really 850 ie 30% of total inventory, then the sales team would not have been supporting resale at a Rs 100 transfer fees.
No sales guy would be stupid enough to refuse all prospective buyers, unless he’s genuinely run out of units.
Please remember we are dealing with Prestige here & not Bhola group of contructions
On a lighter note (hope you won’t mind) …please meet any of the sales guy, offer them 3,900/- psft and ask for an available unit & you’ll get bhola ji ka thullu ! 😉
Prestige is supporting resale with Rs 100 as transfer fee if one has completed 6 months after purchase. They are doing it even from day 1.
Prestige is now selling at 4000/- psft. If you want, go to their main office in Infantry road and find it out for yourself. Please remember, people of Bangalore are more smarter than you think. The days are gone when people used to buy properties based on sales people words. Now with easy access of internet, people are doing due diligence even before buying a mobile phone.
Dear Mr. Bhola,
Prestige has already closed sales office at the site. Do you think any builder can close sales office before even half of the flats are sold. Except signature tower, whole project is sold out. Whatever is available is in resale only.
Thanks
Ittium
Come on why do you waste your time arguing with people who have got not better work in life 🙂
Just ignore them !
Tell me one thing, if you open a shop employing 4 people and in the last 6 months you did not have even a single customer visiting your shop, will you keep your shop open paying salaries to 4 people?
Bhola,
Looks like you will have to shut your shop now. You are struggling for more than last six months and you have made best of your attempts ; -). No hard feel Bhola, but you are making this forum so alive, nothing less than comic show.
– Andy.
Mr Andy, I don’t care what you and others feel about me. My task is to bring out the truth and let the potential end users know both sides of the coin. I am just helping people to take informed decision. I have nothing against Prestige or owners of PT. Since the negatives of a project are never spoken by the sales people, neither by the owners, the innocent end-users are taken for a ride. I am just bringing out the truth and nothing else. The problem is that when you start speaking negative, the owners of the project start tagging you as broker of competitors. Every project has positives and negatives. Why no one should speak the negatives of the project. Whatever I have said is not rumors or assumptions but facts.
Dear Bhola,
We got your point. Appreciate your concerns and thanks for sharing the details. Now can you please move on in life..
Good luck.
Andy, Bhola,
I dont know about PT. But an investor, who invests on prestige properties across bangalore, was saying that his investment in Prestige Glenwood is a dead investment. He made the mistake of investing in it without even visiting the site as he was abroad. He said its too faar from the city and will take at least 5+ years . Someone else said that there is some legal issues too…Just curious to know if there are any other issues with glenwood project other than that what I came to know?
Well you could have put in the names, phone numbers and email addresses as well. It would helped us prospective buyers to contact the sellers.
This place is not for marketing your project but to bring out truths, pros and cons of the project. Satyamev jayate.
when they have people who have bought it and people who are willing to buy it what is ur problem? I am thinking of buying one because it has long term prospects like peripheral ring road, aerospace park etc. That is why I requested you to put the phone numbers.
Friends,
I have checked with Prestige senior management and confirmed that chicken factory is running through lease and getting closed end of this year.
During the hand over time the factory will be closed.
Regards/Sudha
The bigger issue is not the chicken feed factory. Its that massive BBMP dump yard which has absolutely ruined the ground water in that entire area. I have looked this up, and unfortunately confirmed it to be true. The ground water is not potable.
I don’t think that the BBMP dump yard is going to go anywhere in the near future. It is just too huge (close to 30 acres at least if I am not mistaken). There are 50 garbage trucks that visit that dump yard every night and dump Bangalore’s garbage. The villagers of Mandur recently did a protest march raising these very concerns: http://timesofindia.indiatimes.com/city/bangalore/Give-us-clean-air-not-tax-sop-Mandur-villagers/articleshow/31072152.cms
And even if it does, you just cannot clean up the ground water infestation. Terrible but true.
I am staying in whitefield and in our apartment we do not use ground water. Very few apartments in Whitefield have sufficient ground water. So even if ground water is not good who cares. We buy water!!
Nice try Mr. Sudhakar to make others fool. Sales people of PT made all of you fool and now you are trying to make others fool so that you can exit the project comfortably. Good keep it up.
Bhola, what exactly are you trying to do? Highlight the little flaws in PT and make a mountain of fabricated stories out of it? You are spoiling what ever little respect you have and anger the true owners. Things that we discuss freely are not to be shared in public. Atleast that the basic trust between the public and private forums. You have taken this to a whole new level and far from the real truth. Your credibility to be integral part of the association will be highly questinable. Wonder how your family treats you … and how much respect your give your family. Going by the looks of it, it should be a disaster. Pity you!
From your comments on this forum I feel your are really ill-informed. You will have to educate yourself more before commenting on topics . Whatever you seem to be posting seems to be what you are assuming. If so, please for the benefit of other readers state that u are assuming .:-)
That comment was for mr bhola
Hi, I have booked a 2bhk in the PT. I visited the site yesterday and spoke with few people there..
I was informed by few of them in the site office that we may get the hand over realistically and honestly by May or June, 2015. Although work in Tower 6, 7 and few other towers are going on well, the hand over will take another 1 year atleast.
In respect to factory around no assurance was given about closing the same. It has been 3 years of waiting for me (Booked in Aug, 2011) but hopefully the project will be good to live in. They cited the reason of labour crunch and elections to be reasons of delay.
Thought of sharing the above info with all the Buyers of PT.
Thanks for Sharing.
I believe most buyers have already anticipated a 6 month grace time in the completion of the project. I think 6 months is also mentioned in the agreement. We should be OK, looking forward to seeing the project completed, another year will fly by before we know it.
Dear Mr Bhola,
Only six out of more than 2200 flats. Search Brigade Metropolis on commonfloor, there are 134 properties on sale. Does that make Brigade Metropolis a bad option. In a big project like PT, there will always be people who would like to exit any given point of time.
Ittium
PS: Except one, all other seller in PT are now selling their properties for around 3900 psf increase of Rs 400 in last six month.
and the one who is supposedly selling at 3,600 or so is perhaps an acquaintance of Mr Bhola .. or who knows if he himself is drafting mails from a different Id ? Do we have the name & tower/flat number of the gentleman selling at 3,600 psft ?
This is not insider information, this is information available on every Real estate Site like common floor or Magic bricks.Please can you clarify on your status, are you an investor, Prospective buyer or agent and what is your reason for posting negative information about this project. Ofcourse there will be investors in every project who wish to sell. There is no reason of smell or anything. Its purely business. I was thinking of Selling as well and I was getting buyers up till 3950 per Sq feet within 3 weeks of looking to sell, but I decided to hold my investment for more time. There are sellers and buyers out there. As the Completion dates get closer there will be many flats for sale in PT just like any project.
People are not able to sell even at 3600 and you are talking about 3950. Who the fool will buy there at 3950? Come out of your dream and see the reality.
For your information I know several of my colleagues who bought apartments second sale at prestige tranquility @ 3800 recently. And there are several early birds who bought at 2600.
The property is a hit among many who want tranquility in their lives :-))))
Dear Mr Bhola,
CFF near Prestige is a fact. Brigade metorpolis still has glass factories around. What will you get by creating PANIC.
How do you want, owner, buyers and sellers to react. Owners are aware of CFF and will take appropriate step/action at appropriate time but with so much negativity, you might miss the bus who knows, the CFF might not be there when possession starts.
thanks
Ittium
You did not miss the bus but got into the wrong bus. You can’t even take a u turn now. Good look if you find a buyer for your flat.
Dear Mr Bhola,
come out of your dark world. See the sunlight. Search on common floor, there are only 180 property on sale in Prestige Tranquility. In Brigade Metropolis there are 135. Similar number in similar sized completed project.
And this is after so much negativity spread by you day and night. I will really wonder, if so much negativity (in you) is not affecting your own social/family/personal life.
Ittium
http://bangalore.citizenmatters.in/articles/4763-campaign-against-dumping-garbage-in-mandur
2007-8 time frame, I was looking for property in Jaya Nagar/JP nagar area. I visited Elita Prominade and Brigade Millenium. Approach road and locality was shitty. I dropped investing in that project. Happened to visit the same area again recently and the whole area has got transformed. Same is true for ORR/Whitefiled/Marathahalli. These used to be godforsaken places one time. I would like to mention new airport road from Hebbal to BIAL – it used to be totally deserted place. Look at the development now.
So any new project on the outskirts will have some issue or other which gets resolved in due course of time. People who can – they buy – others keep criticizing while the prices appreciate out of reach.
Coming to the point of dump yard polluting ground water – FYI there is no groundwater left in most parts of Bangalore. People survive on tanker supplies – and you wouldn’t like to know where do they fill in the water from. I have seen a few borewells dug up right next to Bellandur lake, which stinks from miles. Forget about all that – Shobha projects next to ORR are built right next to Bellandur lake. It stinks so bad at times – you can’t even stand there for 2 minutes. Go and check the rates of those flats in resale.