Prestige Misty Waters @ Hebbal

Prestige group will soon announce the pre-launch of their new apartment project in Hebbal called Prestige Misty Waters. Expected official launch is mid November.

Prestige New Launch - Hebbal

Prestige Misty Waters Options

Areas are in the range of 1133sft -2419sft

Prestige Hebbal - Master Plan

Prestige Misty Waters Location

Hebbal, Off ORR, North Bangalore

Prestige Hebbal - Location

Key Distances

Prestige Misty Waters Price

Special Price of Rs.5500/- valid for first few bookings, you can get in touch with our sponsors on the numbers below to avail the offer and for information on the exact terms and conditions.

Booking Amount
2BR- 3Lacs, 2.5BR- 4Lacs, 3BR- 5Lacs, 4BR- 7.5lacs

 

 

331 Responses

    1. if its for your own living,..then any time is better ? if you are an investor then look at the stock markets ? which may give you better return..

  1. I heard that there is a phase II coming at Misty Water – Prestige has acquired more land and they will be building 30 floors high – 2 building and will be using the club house of Misty Water – any NEWS guys. Pl let me know ?

    How is the project goings – Misty Water ?? Is it a good investment for future (10 Years) or should I invest in the next project. (Any news on Rates ?)

    Hema

    1. No clue abt the upcoming phase. It’s certainly a good investment. I suggest u get in touch with builder directly on rates. This is not an appropriate forum to discuss the same.

      1. Thats weird !! Isnt this the forum to discuss everything about real estate including the price of an apartment? or are you scared of something Mr/Ms Vj?

      2. @Vj

        >>>>>>>I suggest u get in touch with builder directly on rates.

        If everybody prefers going to builder directly, who will buy from investors, who are waiting for an exit route from a long long time.

        I agree that, if you buy from the builder directly, you don’t have to pay the UNNECESSARY exit fee of 112/- per sq.ft. But then you should also consider the situation of “investors”.

        Today, investors may not ready to sell at lesser prices, but what’s the harm in talking? After all, as many people already pointed out on this forum, RE industry thrives on the investors only. Without them, there will be no Real Estate. How do you think, common man will find a house in that case?

    1. Hi Raj,

      I am planning to sell my 2 bhk flat which is on 17th floor tower 2. interested contact me on 9341248922.

      1. I am selling my 2.5 BHK on 9th floor in 3rd tower. For more details please get in touch.

        Sid
        London -0044 7989704627

  2. I got an email saying Prestige themselves are selling these flats at 6250-6750 price range . If so, why are investors selling at 6500-7000 price range ? Why would anyone approach the investors if they are selling at a price more than the builder ? Shouldn’t they be selling it at lesser price ?

    1. No, they don’t.
      If we ask, we get irrational, dumb answers, like “This is my price, buy or get lost.”
      If we are lucky, we end up listening their gyan about how 1crore is nothing, and why we should buy, per sft will cost more than 20k with in few months, compared to mumbai here it is cheap, compare with california…blah..blah..blah.

      1. @Santhosh

        >>>>>>why are investors selling at 6500-7000 price range ?
        >>>>>>Shouldn’t they be selling it at lesser price ?

        There is a good reason why “investors” are trying to sell at higher rates.

        As I have noted in one of my earlier posts, after the launch at 5500/-, the builder kept on increasing the prices in quick succession . As a result, most of the investors entered at around 6250/-. Now, considering the EMI outgo and other charges over these years, the actual cost of ownership for these investors today easily stands at 6500/- per sq.ft. So, it’s obvious for them to ask for the same price. Builder, on the other hand, is just using the “cushion” of hype he has created over these years to absorb the “shock” market is throwing at him. Do these investors have such “cushion”?

        In this stagnant market, the cost of borrowing (interest part of EMI) and the opportunity cost (loss of FD income) is increasing the effective cost of ownership for investors, every passing day. Obviously, investors are demanding more. But, will there be takers to cover up their losses?

        “Misty” water is fast turning out to be “Murky” water for these investors.

        1. Prestige has many regular investors who get their prelaunch flats at a very low cost , much less than the price of 5500. Now they are selling at a handsome profit.Many big builders have such ” investors” who follow the same method.If the builders don’t support such people they cant launch projects and make profit.This is the same method the companies use in share market and they are called underwriters.

          1. @xyz

            Agree with you. Such “holy connections” are required to make a profit in this stagnant market. Otherwise, regular investors are already struggling to find an exit route for quite some time now.

            1. Mr.Manju, it is an unholy connection because during the boom they made merry by taking the end users for a ride by creating an artificial shortage and innocent people paid through the nose for any hell hole.Whatever money they made during the heydays is being used to prop up the godfathers of real estate.Paying for the past misdeeds now as their investments are not yielding much returns.Atonement for their karma and curses of good people.

              1. @xyz/manju,
                Are you saying that the price will be stuck at these levels (>7000) till it is completed ? It has been stuck at that level for some time now … Wont the builder increase the price just for the heck of it as they are ok with unsold inventories ?

                1. @Santhosh

                  >>>>>>>Are you saying that the price will be stuck at these levels

                  Prices can go down as well…!!!

                  But yes, for now, it will be struck at these levels (6250-6500) for a long long time, irrespective of project completion, which itself is in doubts.

                  If you look at it, the rate of 6250/- is actually a smoke screen: It’s just the base price. There are just too many of overhead costs–including delay cost—which takes the final (effective) rate close to 8.5K per sq. ft.. At this rate a minimal 1000 sq. ft. 2BHK apartment would easily cost you close to 95L, all inclusive. And even with 70% floor efficiency, you will have to contend yourself at 700 sq.ft. of carpet area. Now imagine, 95L for 700 sq.ft area!!!

                  Obviously, there are few sensible people left who would even think about buying a pigeon hole at this price.

                  With IT layoffs going on in almost all big companies, a commitment close to 1Cr at this time may prove to be a “financial Suicide” for any average Joe and Jenny working in IT, even after combining their salaries.

                  No wonder, RE sentiments are already down. As usual, Prices would follow market sentiments.

                  1. Even with 700 sqft, u get only 300 sqft land area of UDS . Valuation no longer sane. It may crash. I feel even after 10 years, prices should remain at this level only.It has run up a lot in past 2 decades.

                  2. On IT or any other job, for profession to salary has come down if you adjust for inflation in past 10 years. 10 years back u get 20 lakh Rs apartments and salary for fresher is at 2.5lak for software eng on avg. Currently average costs around 60 lakh and entry salary is 3.5lak.IT has done well. If you take other industries ,many banks pay what less that what autowalas earn. In India job market is so terrible,most houses are sold on the pretext of appreciation and close to IT zones.

    1. They have completed 11th floor slab. Price is still 6250 ( with scope to negotiate). They want 60%+ of total immediately on booking. I was interested in it until, I checked out the floor plan…the carpet area to super built up area ratio is very poor in 3 bhk’s. (Less than 70%) … So I am sitting undecided thinking if it’s worth it.

      1. @Rahul

        Prices have stagnated. PMW has been at 6250/- for last 2.5 years now. Handful got at 5500 during launch time, few more at 6000/-.

        “Investors” were expecting it to touch 7k to 10k for a long long time.

          1. Hi muheeb ,
            Why don’t you ask the question in the public forum ? Why do you need email ids if you dont have any bad intentions ?

            1. PSKV this post is about Misty Waters so I thought not right to start commenting on PLH.Anyway I have booked in PLH yet to sign agreement. Wanted to know if any concerns as properties near to lake are facing problems nowadays.

        1. @all investors – Please buy all the misty water projects and wait for 10k to 20 k per sq.ft

          if the investors can help sell all the million apartments which are unsold in bangalore that would be of very great service to the community.

  3. ISSUE with Bank Disbursements !!

    Off late we have been having problems with Bank disbursements. The Bank officials are stating that the PMW construction is slow and cannot release the amount.

    Pl let us know what can be done and what are the Options ?

    Neelam

    1. Normally if banks are not satisfied with the construction progress they wont release the money. If you have signed agreement for the time based payment, you will have to arrange the funds yourself.

    2. prestige is a listed company..so please write to SEBI asking them to delist from stockmarket

      they cannot take money without building the apartment..also approach CCI , Consumer court to get your money back with interest

    3. Prestige has a time linked payment plan generally and the bank is following a construction linked payment plan. The slowness in construction reflects that the sale of the project is not in the expected lines of prestige. A project that sells faster will complete construction also faster. It normally take 15 days minimum and 30 days maximum to construct 1 slab depending on the number of apartments in the floor. You need to discuss with prestige and the bank since the payment should be as per the agreement signed by you and the builder and accepted by the bank for payment disbursal.

      san

  4. Work is going slow wonder it will get over in Mid 2016 ?? (PMW has built only 7/8 floors till now)

    All the best for possession guys.

    JJ

  5. Equinox Water’s Edge quality is very good when compared to PMW & Karel Zenith Veenaji.

    Let me know if you are interested in Water Edge I can get you a Diwali Special Rate – much better rate & quality than others.

    Pl dont go for Lithos or GCorp not worth the time & quality when compared to Equinox Water’s Edge

    Singh.

    1. Equinox – the carpet area includes a lot of useless areas including the AC ledge! Come on why I should pay 7000 bucks per sft for nearly 60sft of AC ledge.

      The construction quality agreed is better because they use the moulds (I don’t recall whats the exact name). But, this construction limits any customization if you want. You will find odd
      beams and columns coming in your house.

      Lastly if I am working in Manyata, I would prefer to live on the Nagawara lake side of the ORR rather than the opposite side, I need to take a complete roundabout via Hebbal and back on the ORR to reach Manyata.

      So….

  6. What about the health problems due to filthy smell and mosquito at Misty Waters.
    Any promise from Prestige to mitigate these problems.

  7. Hello
    The property rates are like the Share market , it has moved to this rate with some presumbtions , however for it to grow furthur it needs trigger ,as per what i see the trigger for PMW to grow are as below
    1) Nagwara metro station
    2) Large Parcel of land on the main road expected to come there are ( hotel/mall / and high end appartment )
    3) Start of Commuter Rail service
    4) TMTT at hebbal cross
    6) Start of Karle SEZ
    7) Malls and office space under constructionand on bellary road next to RMZ
    And many more , this are the few of the project that are going to drive the project , i am a end user , happy with the location ,

    adil

    1. there is no growth in hebbal for the last few year..better to avoid this till we get a real estate regulator..all proejcts will get delayed for 3 years..

  8. Guys thanks a lot for the post & discussion.

    Pl let me know what do you have to say about the following projects that are near/on Nagwara Lake.

    1. Karel Zenith Town Centre – psqft is Rs. 8500/- (Possession – 2016) + Floor Rise
    2. Equinox Water’s Edge – psqft is Rs. 7500/- (Possession – 2016) + Floor Rise
    3. Mantri Lithos – psqft Rs. 6500 – (Possession – 2016) + Floor Rise – Away from Nagwara lake.
    4. G Corp Icon – psqft Rs. 6500/- (Possession – 2016) + Floor Rise – Away from Nagwara lake.

    @ Manju : Manju can you pl share your expert comments do you think investment in these building will yield higher ROI than PMW ??

    Based on my discussion with experts they are mentioning the Price in Hebbal area (Nagwara area) will rise by 20 to 25% compared to other areas in Bangalore next 4 to 5 years time ?
    (What do you all think ??)

    Also is JMC Builders (Prestige Partners) – known builders do you think quality will be good compared to other builders ?

    Pl advice before I invest in PMW. What will be the rate in psqft of PMW in Jan 2017 /Jan 2018 ??

    Thank you all
    VSB

    1. Are we doing Apple to Apple comparison between

      PMW v/s Karle v/s Water’s Edge v/s Lithos v/s GCorp Icon ??

      6500 vs 8500 vs 7500 vs 6500 vs 6500 ??

      I dont think soo Veena – they all are different and have a big Price to it compared to PMW. PMW’s Location also has an advantage when compared to Lithos and GCorp. (if you want to say)

      Manju will think that the price will remain the same for the rest of the life and all the project are bad investment.

      Pl go ahead and buy @ PMW it a good investment when compared to Karle Zenith & Water Edge.

      JJ

      1. hebbal was expected to grow faster than other locations..but did not do welll..as per ndtv property show..there is a 40 % fall in hebbal region alone.

        Unless there is social infrastructure and realistic price..real estate is not going to improve..

        1. whoever says buy is an investor or from a builder to hype the sales..actual demand is not there in any locations in bangalore..so be careful if you are going for a high value purchase..with a crore people can buy a nice apartment in singapore and you will have better life

          1. raj.. don’t try to give company to manjushree with half baked info… while hebbal may not be growing as fast as pointed by builder and all of us know how bad the entire infrastructure is in bangalore……..if it was so easy to buy apartment in spore and basically go and live there… god knows how many more indians would have landed there… property in spore is expensive and living costs in s’pore is among the highest in the world…. also.. buying an apartment doesn’t get you a citizenship i guess !!

            end of the day it is what it is..no one is being compelled to buy or sell anything anywhere… people need to be practical and use common sense….

            high value purchases should logically be made for self use if one can afford or else if you are wealthy enough to afford retaining the property for as long as 10 yrs….there’s no rocket science in it…demand is obviously lower than the supply however the prices haven’t come down much…

            ask people who witnessed the slowdown during 2008-2009 times.. even during that time… bangalore hardly had any reduction in price..

            before you or anyone jumps to conclusion, i’m not suggesting that people should start buying especially expensive properties.. i just mean to say that things don’t really change dramatically in Blore RE market and its anybody’s guess if it would happen and if so when…

    2. Veenasree- yes if you talk to any real expert ( except Manjushree who isn’t a qualified expert), price in an Hebbal is expected to go up further with city development moving to North bangalore.. Whether you want to trust this info and willing to take the risk of investment is your decision based on your financial ability and appetite for risk…

      hard to tell which one would be better among the ones you listed out..but go and check each one of them for yourself to understand their positioning, quality, pros n cons etc.. i haven’t seen all of them but i guess Karle is different that other projects..i would typically look for a combination of quality, builder reputation, concept, price of course and other added benefits in terms of location etc…

      1. Aaahaa!!

        Finally, DEAL on Prestige Properties (PMW)? Clearance Sales? Dussehra sales??

        ….whatever you call it …. there certainly are DESPERATE investors waiting to exit ….

        1. @ManjuShree, 🙂 thanks for assuming that i am investor and DESPERATE one. As and when you decide to buy in any A grade builders new project. Dont forget to reach out to me ,i will get you better deal then and there 🙂 .

      2. Hi Paddy..

        Dont bother all of us who for whatever reason want to sell are Investors according to Manjushree…because for manjushree the facts are what she wants it to be…. I mean it is pointless to even argue…as ppl here say there is no demand… I just bought two months back n my interiors are being done and in the mean while 2 apartments have been sold be existing residents in the range of 1.3 cr plus for a 2 bhk but please remember there is no demand its just DESPERATE BUYING AND SELLING !! the buyers the sellers the brokers the builders are all BLEEDING!!

        Its being made out in a DESPERATE ATTEMPT TO PROVEV TO THE BUYERS OF PMW THAT THEY HAVE COMMITTED A BLUNDER AND THAT WE ALL WILL KEEP BLEEDING…..OHH GOD….OHH NO…..

    3. 1. Karel Zenith Town Centre – psqft is Rs. 8500/- (Possession – 2016) + Floor Rise

      72 Acres development, with 384 residential apartment rest are all commercial and is classified as SEZ. Project Entrance on the main road. 3 to 4 km from the upcoming Metro station at Nagwara and Adjacent to the Lake.
      Price 8200/sqft
      For Investors

      2. Equinox Water’s Edge – psqft is Rs. 7500/- (Possession – 2016) + Floor Rise

      8 Acres development, with 384 residential apartment. Entrance form the Main Road. 40 floors residential apartment 5 to 6 km from the upcoming metro station at Nagwara and Opposite to Nagwara Lake,
      Price 7100/sqft
      For End Use

      3. Mantri Lithos – psqft Rs. 6500 – (Possession – 2016) + Floor Rise – Away from Nagwara lake.

      6 Acre development behind Manyata Tech park, with 568 Residential apartments 20 floors. Access to Main road via Manyata Tech Park Entrance. 3 to 4 km from the Metro station.
      Price 5990/sqft.
      For Investors/End Use

      4. G Corp Icon – psqft Rs. 6500/- (Possession – 2016) + Floor Rise – Away from Nagwara lake.

      20 Acres Development with 1500 odd residential apartments with 20 to 27 floors, Entrance to Thanisandra Main road and Next to Elements Mall and Behind Manyata tech park. 1 km from Nagwara Metro station.
      Price 5460/sqft
      For End Use

      san

      1. No Matter what you all say the Possession will be in 2017/2018 for all of them. So invest wisely guys. (For PMW too the work is going slow doubt they will get done by 2016 mid.)

        Hebbal is place to invest but only time will say that the price will become – 12000/- per sqft or 15000/- per sqft in 2017 / 2018.

        Jivan

        1. @Jivan : why wait until 2017/18. It has already become 20000 Rs psft. I can sell my apt in Hebbal to you at 20000 Rs Psft today 🙂

    1. I agree with wat you say Bala. It holds true for Bangalore.

      I am from Mumbai settled in Bangalore for the last few years. I hold properties in Mumbai as well as in Bangalore.
      In Mumbai, the Price of the land and the location prevails. It doesn’t matter then who is the builder, wat quality construction, how many years old building. Even if u have an old debilitated apartment, it will still command a price depending on the land price.
      Unfortunately, in Bangalore its different. Here the rates are quoted
      1. According to the prevailing area rates
      2. If it’s a reputed builder, the rate is based on the area rates plus a 20 premium depending upon the reputation of builder. You will still get an apartment in hebbal for 4000/ Sq feet but if there is another apartment right adjacent to it but by a reputed builder, it will comand 6000-7000.
      Bottom line, there is a lot of disparity in pricing and this fact holds true not only for hebbal but also CBD. This is a trend that’s been going on for quite a many years.

    1. @Jonny J

      Dear Jonny,

      In your comment below, on August 7, 2014, you yourself said that work is going slow and that you “don’t think that they will get done by May 2016”.

      Just wondering, on what basis, you thought price is going be 10k?

      Scroll down and check how Mitul gandhi is unable to sell his flat from the last EIGHT months (click here for his first post with the sale offer). Since then, he has been desperately trying here on this forum (and probably elsewhere as well), but till yesterday, he could not find a buyer at 6250/-. I am just wandering, what changed in this project for price to go up to 10,000/- in next six months.

      @Mitul gandhi,

      I am sorry but I am not picking on you. I have to use your case as for many “investors”, such investment is taking a big toll. Read my related post here…..

      Now, going by the info on this forum, I believe, only first few units were sold at 5500 (sept2012), and going by his first post (of August 12, 2013), I don’t think Mitul bought at that price. By selling at 6250, you are probably making a MAXIMUM 300/- per sq. ft gain. Is that worth it? But, sadly, that’s the story of most of the real estate investors, who are struck now and BLEEDING every day.

      Mitul, we would be thankful if you can share your side of the story. It will be beneficial for most of the investors in this forum.

      @Jonny J,
      Sir, I know, you are on the same boat as Mitul. So, before you post your sales ad @ 7000, saying 10k is the next TARGET PRICE (different from ACTUAL price), please give it a thought.

      1. Hi Manjushree,

        You are totally entitled to your views.. But please note:

        1) I am not an investor.

        2) I am not stuck n am comfortable holding the apt, Infact I dont even have a loan!!

        3) I am not desperate.

        4) I had bought the apt for my own use but in the meanwhile I have bought another flat near ISKCON, so my moving into Misty Waters is out of question.

        5) I have bought at what price is immaterial and by the way pls do a small survey of the luxury apt market in blore I am very sure the price will go up tremendously as apts even in the interior parts of jakkur are commanding prices of close to 10k per Sqft.

        6) the location of misty waters is really good n it will be worth the wait.

        7) before you start asking questions as to why I want to sell my answer is rather than HOARDING properties since I have bought a apt and will be moving in shortly I would rather focus on getting myself my own factory cum office space so that I can start living a rent free life.

        Hope my side of the story suffices…

        Cheers!!

        1. Brilliant reply Mr Gandhi,

          Your reply is definitely useful for people who are actually looking at this site for serious buying and also clearing the doubts few highly opinionated people who are busy predicting the timelines and actual ongoing rate. ( without any interest in buying).Everyone know that market Is volatile and no predictions can be Made of actual appreciation in another two Years yet a person who has brought the property will obviously expect the rates to go up. No point in condemning anybody.

        2. Thanks for sharing your side of the story. I agree that it’s a wise decision to exit from a property when you have other financial needs; Gain more by investing somewhere else, rather than simply holding on to a property with false expectations.

          Though I don’t agree with:

          >>>>> apts even in the interior parts of jakkur are commanding prices of close to 10k per Sqft.

          I will not exhume your case further.

          Thanks again for responding to my post.

          1. @ Manjushree

            A person who can afford a premium apartment which costs roughly 1.35cr for the bare shell plus interiors need not worry about 60 odd k interest, it’s like a Mercedes or a bmw owner worry about fuel costs…It’s the typical thinking of a person driving a value for money car n wondering you know how much it costs maintaining it…. It’s a different ball game altogether a person who’s there doesn’t necessarily have to think the way you suggest.

            Your 40 odd surveys are of no news as I have bought 2 months back n have seen what’s on offer at what price so please don’t bother going through the 41st survey infact the pain you have taken to go through the first 40 have been a sad waste I think.

            Just because I reply PROMPTLY doesn’t make me desperate, it could be that I check my mails regularly and am online most of the times as I don’t need to save interest on the cost of 3G etc…

            And finally none of us here are competing with the builders…and your desperation to be called the person with the right notion, the enlightened and the enlightener is kinda overboard… You feel we are stuck n you are the wise one so be it… But pls stop writing such long emails on what YOU think is the fact… None of us here who have bought apartments have made the money to buy it from your methods of analysis of various things you may have…so you need not be judgemental as none of us care what you think. And I reiterate this is not personal..

            Lastly just out of curiosity are you ” STUCK” here as well….

            Cheers!!

              1. Well said mitul and Observer. Now get ready for some analysis on how people who are having mercedes or bmw or kind of 30 plus lakhs car are BLEEDING by paying huge money and lower mileage. This will be proved with reports on sales dropping of luxury cars and many people are ready to sell on olx.com..Bech de

                1. If somebody bought BMW for investment purpose and not earning anything on that, he is obviously bleeding.

                  There is lot of difference between OWNING for self use and holding for investment.

                  Manjushree’s comments are to Investors not to end users.
                  He/She mentioned many times that, if the purpose is end use and affordable, go for it.

                  The pride involved in OWNING, is beyond calculations.

                  1. If somebody buy something which can be hourse, car or anything for investment but not getiing anything out of it then definitely its a BLEEDING
                    and which does not require any explanation or essays on it. But again some body who is wealthy enough to do investment is a one who had made profits in past without BLEEDING so capable enough to take his own decisions and definitely not required any essay or any explanation from either me or anybody. A smart investor is one who invest when market is low or down provided he has understtood or guessed correctly that its bottom out and now it can only can go up from here.
                    PS : This is just my gyaan which has nothing against any living or dead and if yes then its just a pure coincidence.

            1. @Mitul Gandhi

              >>>>>it’s like a Mercedes or a bmw owner worry about fuel costs…It’s the typical thinking of a person driving a value for money car n wondering you know how much it costs maintaining it

              But we don’t see as many Mercedes and BMWs on the roads. There are few buyers of such luxury cars.

              Nor do we see the owners of these cars DESPERATELY trying to sell them off…

              And it’s a different issue altogether that you paid for Mercedes and got a Santo Xing instead, because you saw Shahrukh Khan was “driving” it in the TV ads. And now that Shahruk has changed to i10, you thought, my Mercedes is still a Mercedes after all.

        3. General question / point (and not about anyone’s personal decision): INR 10k per sqft + 15 – 20% additoinal cost for club, registration etc. (i.e. Rs 12k per sqft)

          Do we really have so many buyers to buy properties at such rates in Bangalore (and this is for an apartment and not for villa)? Not the question of one or two properties but there seem to be several complexes in this range (or claim that rates will be in that range in couple of years).

          Factors to consider: Salary levels; Govt talking about new smart cities and “affordable” housing; a neighboring state giving new investment options; water situation in few years – unknown, high inventory levels, bad infra, bad traffic situation, pollution levels going up, city can keep expanding in all directions etc.

          1. @curious,,,,, honestly i have had the same questions for a very longtime and thought that sooner or later it will show up in market…..thing is there are tons of people who earn 30 lacs plus, add to that couples with both working, IT folks earning money on overseas assignment, availability of loans, retired people with good money and folks moving to bangslore from places like mumbai n delhi and on top of this NRIs and business men…..thats probably a large population….

            Other way to look at it is people in mumbai n delhi in typical jobs also dont a lot more than ones in bangalore so how are they paying huge amounts for buying apartments that are far more expensive

            1. Assuming rate of Rs 12k (including registration etc.) in 2 years as in some posts here.

              I don’t believe that NRIs would want to pay Rs 1.8 CR (i.e. 12k per sq ft) for a 1500 sq ft apartment (that looks like a match box – sorry to say but that’s how some of these looks like). Some may but many not.

              NRIs booking villas etc, – acceptable but not matchbox type apartments in high-rises with very high apartment densitiy.

              Rs 30L x2 — that is not good to pay Rs 1.8 Cr for a 1500 sq ft apartment

        4. @Mitul Gandhi

          Thanks for sharing your side of the story. I agree that it’s a wise decision to exit a property/investment when you have other financial needs to take care of; Gain more by investing elsewhere, rather than simply holding on to a property with false expectations.

          Mitul, I understand that you are not an investor. However, your comments have all the ingredients and fallacies that hold an investor from exiting a bad investment and continue to lose instead. And these are the very notions that I seek to dispel and debunk them as far as possible. So, I am compelled to continue writing on this topic. Again, I am not picking on you. Nothing personal.

          I sincerely thank you for responding to my post. I am not addressing you in my writings below. You can STOP reading NOW.

          Investors, please read on …

          >>> 2) I am not stuck n am comfortable holding the apt

          Well, if you check commonfloor.com, at the link below:

          http://www.commonfloor.com/prestige-misty-waters-bangalore/povp-ocfych

          There are currently 94 properties up for sale, mostly in the range of 6 to 6.5k. Don’t you think, to entice a customer, you need to compete with 93 other “investors”, few armed with paid brokers/agents to sell those properties, trying hard everyday? Many investors are actually looking for a buyer for a long time… few at least for EIGHT long months.

          … Infact I dont even have a loan!!

          It’s good that you don’t have a loan. It helps. But even then, if property prices are not going up–as I have explained in my previous post–you are still losing out on interest income big time (
          opportunity cost
          ). Imagine, if you could sell the property at 1Cr TODAY, and put that money in FD, you can earn an ASSURED income of 60K (post tax) per month. You are missing on that, which is effectively cutting on your future profits, if any.

          3) I am not desperate.
          Please be. ( assuming you responding to those sales query on this forum within few hours of posting was a mere coincidence). At least, those who have put up premium/paid ads on commonfloor and have engaged brokers are very desperate. Mind it!!

          pls do a small survey of the luxury apt market in blore I am very sure the price will go up tremendously

          Even surveys by professional agencies are saying sales are 40% down. And it matches what we are seeing on the real estate web sites. I don’t want to spend my time on one more survey. Just verifying those surveys to what we are seeing …

          http://www.proptiger.com/blog/realty-check-performance-scorecard-of-bangalore-in-the-first-half-of-2014/

          >>>>> apt even in the interior parts of jakkur are commanding prices of close to 10k per Sqft.
          ( to rephrase, apartments in WORST locations than mine are commanding higher prices, why not mine? )

          Dear Investors, please understand that circumstance under which you are trying to sell an apartment is very different from the circumstances under which a builder sells them. Big builders mobilize humongous amount of resources while selling the projects: Putting up full length ads in popular newspapers, marketing the projects not just only in Bangalore, or India but even abroad. So, literally, at selling time, they are marketing the project 24/7, around the globe. And they have an army of sales and marketing guys at their disposal, with many more “channel partners” to match them, all desperately looking for buyers at an HYPED up price. Obviously, you just can’t match their might. You are at best, riding on the hype left over once the project completes. And moreover, you are competing against other investors in the process. It worked, when market was in upward swing. Now your only weapon is to sell at a lower price or WAIT. Now wait costs, I have explained this several times on this forum. And if it’s a stagnant market–as it’s now–your wait just gets prolonged, leaving you BLEEDING for years.

          So, exit those BAD “investments”, even if it means booking lesser profits.

          The real problem

          This property has been sold to investors at the peak of the Bangalore RE boom (around 2012) and, sensing the cycle pretty well, the builder continued to increase the price in quick successions. As the market is now in downward swirl, these investors are finding it difficult to exit, in some cases, even at the price they bought. Steep exit barrier of 112/- per sq. ft. transfer charges is adding to the woes. Even a home buyer will consider it money going down the drain. So, my suggestion is, try to absorb it. May be you can find few buyers.

          Now, in order to support high selling prices, Investors are trying their best to maintain the hype and speculation. But can they match the builder?

          Jonny-Came-Lately posting the next target price to be 10K is just another effort in that direction….

          1. Good analysis Manjushree [ or whoever you are],
            Some builders are supported by the investors and they get special deals at the time of booking and it is lower prices.They bailout in a short time with hefty profit and get ready for the next project by that builder.Genuine home buyers get a raw deal as every hour the price is raised on the day of booking and these people shell out more than the announced price [special price for a few bookings etc].This hype percolates to common people who buy from investors hoping to make money later.
            Now it has changed and there are no home buyers as they have wised up to the gimmick.
            Hence we see many sob sister stories of moving out of town or country or transfer and so they have to sell reluctantly.
            That is the reason for builders offering all kinds of sops including buy back guarantee.The reason for delay in handing over is the effort to help investors to sell.

        5. Mr Manjushree,

          U should find yourself a job as a real estate consultant. Seriously, I am sure you will do well. Well, do you have any personal grudge against prestige or this project PMW? Nobody in this forum really needs to know your analysis.

          1. @VJ,
            How can you sat that. He is writing in all projects. I don’t think he is against particular builder.
            One thing for sure. Prices have stagnated.

          2. Hehe.., good one VJ… manjushree seems to be against the whole real estate and forever busy giving her so called analysis and commentary that no one asked for….

            She cant become a consultant cos no one would pay her for such one sided and to a large extent flawed conclusions. ..

            She is quick to know what everyone is doing etc etc but im wondering what is she trying to do? My guess is that she is frustrated of not being able to afford a good apartment or not willing to pay todays price n has probably failed to get a seller desperate to sell her at low prices she wants…….

            Apart from reports of low sales etc which is anyway in media what exactly has she got to sustantiate any of her claims? Does she work with a analytics company who hascreal trustworthy data? Providing commomfloor examples and writing her own theory of investors bleeding etc which she is busy advertising , is one thing…….ask her to find you 10 good apartments at prices she claims to be realistic and you will figure out the bs…..

            She has a never ending desire and time to keep writing and advising people who neither ask or possibly care for her views….her basic assumption is that educated people on this forum are dumb people who dont know how to use their money or where to invest or what to do in general….mitul has his own n valid reasons but she just cant control herself….

            No doubt builders hype upto create demand but then its true for every product you buy….she is basically trying to hype and create a fear among people thinking she can get people to sell at low prices….thing is , it doesnt happen…. people who earn their money by hardwork know the value of it and are educated n concious about what they are doing…. and someone who can afford to buy an expensive property can also afford professional guidance instead of goingwith her half baked n to some extent mindless commentary…….. people like her n sachin keep shooting from the hip……

            1. @observer

              Most of your comments are personal attacks on me. So, as usual, I am not going to reply to them, considering it a waste of time for me and others in the forum.

              But I would like to answer one valid question that you have raised. I have seen this question in many other forums:

              >>>ask her to find you 10 good apartments at prices she claims to be realistic and you will figure out the bs…..

              Today, in A-Grade builders, Absolute NO. I can’t even find 3 such projects, let alone 10. But, the day you start finding such projects which are selling at reasonable rates, you will find commonfloor.com numbers coming down. You will see investors feeling relived after years of wait. You will see genuine buyers buying HOME, and investors feeling confident about making a decent return. The upward swing of Bangalore RE will kick in then, as we have seen in the days before mid of 2012.

              Please understand, NOT able to find a project selling at reasonable rate is the CAUSE of this downturn, and not the EFFECT. We all know that there is no dearth of demand for housing in this country.At these exorbitant rates, affordability is the primary concern.

              Until then, you will find commonfloor numbers of unsold units going up and investors BLEEDING everyday. BTW another side effect is: few disgruntled investors–along with money– even lose their mind during this time …

              1. @manjushree, honestly i don’t want to make it personal and whether you believe it or not… I’m someone looking for apartment for self use only and not as investment….Point is you keep giving one sided opinions and secondly you assume everyone who is wanting to sell an apartment ( Mitul for example) to be a BLEEDING investor or indirectly potray such people as ones who don’t know what they are doing with their money….. end of the day everyone is smart these days and educated enough to make informed decisions…

                firstly i mentioned 10 apartments and not projects.. i’m referring to people who according to you are stuck and bleeding and hence wanting to sell desperately….i’m not as resourceful as you but couldn’t find even 1 in last 2 years….

                i won’t claim myself to be someone who can throw a lot of analysis but i definitely understand logic and practicality…. how is it possible that there are TONS of so called bleeding investors but not even 10 of them wanting to sell when they are BLEEDING??? probably all of them are wealthy enough to hold now and can hold for longer….. eitherway doesn’t make sense..

                your logic of commonfloor doesn’t really hold water since the info/data isn’t trustworthy… firstly a lot of those posts are from agents who block apartments during pre-launch who are no way desperate to sell and that’s how the industry works…secondly the notification put on commonfloor continue to stay there forever even if an apartment has been sold..is there a way to even validate that data?? lastly, there’s no classification of the numbers into ready to move in or old vs under construction…. i think usually people will always want to buy a used apartment at a discount over market rate.. for a new apartment, typically one would prefer to buy directly from builder unless the price from an existing buyer is better which doesn’t seem to be the case…

                as far as affordability is concerned.. its different for every person…i know tons of people who can easily afford a 1 crore apartment…… no one is forcing anyone to but for A grade builder… apartments are available at much cheaper rates from low grade builders or if you are so convinced about the price being over the board… other thing one can try is buying a land from a landowner and building a house to know the cost, quality and hassels involved….

                1. @observer

                  I write about investors. Now, if you are looking for a HOME (self use), please go ahead and buy at whatever price you can afford to; at a location you consider the best.

                  No math can quantify the peer pressure, wife’s pressure or even in-law’s pressure to OWN a home. Considering that it may take years for market to correct, you may not be able to bear the pressure that long. So no math there .. go ahead …

                  But for Investors, math is compulsory. Agree that some of the facts/analysis I write may be obvious to few investors. Wealthy investors may even have experts—-many times better than me—-to suggest, but what’s wrong in putting them up in this forum. Just wondering, why would those investors waste time in this forum if they have paid experts?

                  Few “investors” feel that they don’t want my analysis, but then, I am also not forcing them to read. Just avoid my writings .. simple. Others, if you feel that making personal attacks on me reduces your stress levels, please continue. Don’t expect any reply.

                  >>>>>price in an Hebbal is expected to go up further with city development moving to North bangalore.. (from your post above)

                  In that case, whatever prices are quoted (10K+) are completely justified, considering you are buying a HOME for yourself. If you are so confident, than what’s stopping you from buying?

                  1. btw…

                    one thing is evident, first you try to ridicule everyone and make assumptions about them which generally turns out to be false… then when you don’t have anything worthwhile to say ( as evident from the fact that you didn’t have answers to my questions on your own theory )— u get into discussions of BMW vs santro and peer pressure n what not…. probably it reflects whatever you are dealing with in life..

                    As far as personal attacks are concerned, you are the one trying to make incorrect assumptions about others and trying to ridicule them everytime….i don’t have any stress in life unlike you to making persoanl attacks on you to reduce…. stop giving so much importance to yourself….

                    to answer your last point, i know what to do and will buy whatever i like to… none of your business … period !

                  2. @Manjushree – You certainly have valid points here. Appreciate you taking time to post here. Many investors are fooled by hubris. They should read Taleb’s Black Swan.

                2. | “i know tons of people who can easily afford a 1 crore apartment……”

                  Ton or Ten!!!!

                  For a normal person, knowing tons of people itself is hard. You say, tons of people who can EASILY afford a 1 crore apartment.

                  Take example of Prestige Lakeside Habitat. They started selling at 4750 from last year Oct. Prices now are almost at same rate.

                  Almost all the units in that apartment costs 80+ Lacs.
                  Every week new projects are getting launched in that price range.
                  Do you think, there are so many end users in that Budget range.

                  A double income family with combined salary of 30Lacs total can afford this price. There are lot of other expenses to be handled.
                  Month on Month, how many families are getting added to that group.

                  Either you need to have income from previous investments or you are an NRI or Non-salaried class with high regular income levels.

                  I would say its affordable only, if you have cash for 20% of total project cost as down payment, and remaining 80% payable in 10years with 40% of current monthly salary as EMI and. Or proposed EMI is < 2* current rent.
                  Anything above is BURDEN. You can't enjoy the life.

                  When you retire, you need money also, not just home. You need to have savings after paying EMIs.

                  This is not a laptop or smart phone or a car. Its a Home.
                  Once you enter in to purchase, coming out is not that easy.
                  Purchasing multiple properties within 20 years is not possible now. You may have to sell one to buy new.

                  Disclaimer: I'm not an analyst. But this is what my experience says.

                  1. hey Baasu.. i assume its an innocent question…by tons of people i meant that i know “a lot of people”…would definitely qualify that further by stating that these are people how have worked for at least last 10 yrs and have managed to save decent amount of money through investments etc and are in a position to pay 20% downpayment …

                    again unlike manjushree i don’t believe in making claims that i know it all… i was only talking about people that i know as friends/family plus a lot of people i work with or know through work…obviously it probably doesn’t represent a very large or majority population of bangalore….

                    end of the day its a question of affordability which varies person to person. ..so i would leave it at that…

              1. Getting following message from this forum:

                – tons of people can buy Rs 1 cr apartment in Bangalore

                – rate going to be Rs 12k per sq ft in couple of years (including registration etc.)

                – tons of people will be living in 800 sq ft SBA (i.e. 600 sq ft carpet area) apartment in couple of years because 12k * 800 ~ 1 cr

    2. @Jonny J : if you are convinced that the price will touch 10,000 then why are you selling now? Keep it until then and then you can make supernormal profit.

      1. @ Sachin
        I am not selling any flat. In the past comments – I have mentioned the project is getting delayed. I think PMW is strategically well placed – location wise. (Very good for Investment)

        @ Manju
        by May/June 2016 there will be a price rise in the property around Hebbal area – thats what analyst & trends are saying. We can only wait and watch. (there are lot of articles on Google predicting the trend for Hebbal)

        @ Mitul
        Well Said – really like your response.

        Jonny J

  9. I am very much interested in buying an apartment (2, 2.5 or 3 BHK) in MistyWaters.Anybody who has already bought, willing to sell??? Also what is the current rate ?

    1. Hi Sreeni–You can check with the developer and negotiate a better price..i do not think u need to buy from investors..Hebbal has performed below expectations.anyway if it is for your living..then you can go ahead..else wait for few more months for smart city and the real estate regulator

  10. The work is going slow, I dont think they will get done by May 2016. Also the flat owners have already given 50% of the flat price and not seeing the speedy development. I believe Prestige Group is not doing a good job and not being transparent with the flat owner.

    1. This is exactly what I was commenting. They have prepared useless agreement where every clause is against the buyer of the flat. This is ridiculous. I think it is extremely important to join together and meet the builder. Builder should be forced to alter the clauses and forced to complete the construction on or before agreed date.

  11. I heard there are no more Lake Facing flats also the construction is going @ good speed (Prices have gone up to Rs 7000/- to 7500 ..!) (Anyone selling a lake facing flat ??)

    1. All Prestige Misty Waters Flat Owners,

      I wanted to know if you all paying regular instalment payments as per schedule only (i.e. every 2 months) ? Since I have taken a loan and paying them, it also costs me interest on it. So wanted to know if we all get together and goto Prestige asking for concession in Interest paid as a whole untill possession as most of the other builders are doing it. Or else atleast let them send us future planned construction progress slab wise e.g. 5th floor will be done by date and if they do not complete it then we stop our instalment payments. ANy thoughts on this will be really helpful.

      Thanks,
      Minesh

        1. Hi,

          I am a flat owner. Can u add to me this group. Request already forwarded to this group.

          Thanks ,

          Vandana

      1. We are also interested to join to team up and approach the builder. As you said it is important for the builder to take advance only as per the progress and not otherwise.

  12. Hello there…
    I have seen the recent model flat pictures. The tiling colour (in kitchen specially) dint seem to be attractive.I was interested to know if that would be the final colour for Kitchen tiles ?? Also, is there an option to request them not to fix the granite counter? If any of you have any information regarding this please share.

    Cheers

    1. You can do the modifications at your own cost. They allow you to do modifications post handovers. Why don’t u ask the builder directly? They are quite flexible.

    2. Hi Sujata,

      I did check with them. No modifications allowed until they hand over the flats. and they are very rigid about any requests or suggestions.They told me flat will be as per their plan.
      Has anyone got some positive response?
      or any suggestions to convey changes to PMW ?

      Soumya

      1. Hi Sowmya,

        You could make the modifications post handover but will have to inform the prestige guys that you want the tiles of your choice so that they leave the space free for you. I have been conveyed the same by the prestige folks. However, You will have to bear the tile laying cost. Have u already brought an apartment? If yes, please join the buyers group mentioned in one if the msg above.

        Regards

  13. Price per-sqft is going up very fast. Good to see the area is developing so well, I hope the construction is finished on time by the builder.

    1. I have 2 bhk flat on 17th floor number 2174 and planning to sell if interested please call me on 9341248922.

  14. I found the construction work going at a great pace, the Model was great – the Team is asking 7000/- to 7500/- per sqft. depending on the view. Planning to Invest in the same. (Any final advice ??)
    AG.

    1. Ambika,

      I have bought 2.5 bedroom in misty waters with Rs. 5710 per sqft. so I would say 7000-7500 Rs is bit high may be try to negotiate i know currently it is 6250-6500 sq.ft. My two cents 🙂

      All the best.

    2. if you think the prices are too high try out this apartments vasathi-avante its behind manyata tech park and its a pretty amazing property with reasonable prices its new in Bangalore but it has done a good job in other city’s. to know more about the project mail me your email id ill send you all the details.

    3. I have 2 bhk flat on 17th floor number 2174 and planning to sell if interested please call me on 9341248922.

  15. Whats would be per sqft price by completion. I am hearing a minimum of 10k per sqft. How likely? Prestige projects do reach it’s peak by completion, but 6500 to 10000 is a bit too high..I happened to talk to GM of a competitor company and they do think it is quite possible considering the location and demand.. Prestige is not bothered to advertise this project as it is getting sold like a hot cake. more than 75% is sold out. How true is this?

    1. Yes, it’s true that the expected price could touch 10,000/sqft. Prestige has already raised the price to 6750 for the lake facing apt. Also, about 65 percent of flats sold according to the info received. All lake facing apartment sold out. Few resale available at a higher price.few 3 bhk lake facing available

      1. some one posted on Jan 28 2014 to resale 2.5 bhk at Rs.6113/-. Dose the price increased by Rs.600+ in a month time ?

      2. 10K – what a joke !
        Prestige had been struggling to sell this at 6 K and dragging for more than a year now.
        Good Prestige projects gets sold out in weeks if not days. 75% sold in 1 year is not good at all.

        Post your ad for 6 K and see if you get a buyer or not . YOU WONT

        1. If it’s a joke, go check out yourself. I know the main guys well that’s y I know the figures. I am not here promoting prestige properties. No builder can sell 520 flats in few weeks time. U must be joking. If that happens, it’s gonna be a headline news!

          1. what main guys ?? Prestige main guys ? Then its a joke for sure , thanks for confirming.
            Prestige advertise for the projects for projects which does not sell well . Misty waters , Royal gardens , Lakeside habitat are few of them.

            Have you ever seen a ad for Prestige Silver crest or Casabella ? those got sold out in days and weeks. Not necessarily need to make headlines.

            1. YES NO ONE HAS HEARD OF CASABELLA BECAUSE NO ONE KNOWS WHERE IT IS OR WHETHER IT WILL BE BUILT. THERE ARE MANY ADS SELLING IT ON PROPTIGER.

      3. Hi

        Is there any fresh water available on lake ???, you will have more mosquitoes coming in at premium price , as most of the lakes are not desilted in Bangalore…..

        Avoid Lakes / Drainages facing Units…..moreover the apartments / flats will not appreciate much , these are developers gimmicks creating artificial /Superficial demand and sell at premium price….

        You can find real appreciation on Land /Plots not on flats….

      4. the price is still 6250 and I am planning to sell interested let me know. 2 bhk on 17th floor.

    2. All those who remember the IPO of Reliance Power will remember how everyone applied for the IPO so as to sell on the listing day and pocket huge gains and the rest is history (for those who are unaware the stock crashed from day #1 and for the next 6 years kept sinking). The point is when everyone purchases with the intention of selling, there are no buyers on completion and all those who have bought on leverage are forced to sell below cost price. At 10k in Bangalore one will get much much better location than this one. The current price itself is very high and no end user at the right frame of mind will get in at this price at this location (in March 2014).

      1. I am sure you agree there are two camps here ,as usual.
        1.People,who already invested in this property and hoping to get good returns.
        2. People,who did not invest (let’s admit we don’t like to see this as a missed opportunity). This camp also has brokers who love to be part of some selling and buying actions.

        I am not sure which location is better than this one. Right at Hebbal,100 metres from Ring road. Folks who invested in this project can make good returns. Wait for another 1.5 year (of course , only if you are convinced) to see the price at 9000-9500.

        1. >> at 9000-9500.
          It is possible that quoted price will be this or even higher.

          >> there are no buyers on completion

          Doesn’t matter if buyers are not around. Many buy so that they become happy to see quoted price on paper. Usually, they rent an apartment at whatever is the market rate. May be Rs 15 – 20 per sq ft in that area.

          Over medium term increase in hike anyway goes down and people can slowly find buyers. Most who buy such apartments can anyway hold these for many years.

          No point in calculating RoI. This type of money is for philosophical happiness.

        2. The point I was trying to put was not if Misty Waters was a good investment bet, it definitely was at the earlier prices. The point which I was making was will it go to 10k per sq feet in a year to year and a half, the answer still is definitely “no” (remember people are talking base price of 10k and so the higher floors lake view flats will have to be much higher price). Yes location is good but at what price? Best way to judge what I mean is to look at places in Bangalore which commands a 10k/sq feet price today and then compare with this, only then one can understand why it does not matter how many meters from ring road. My point is not the location per se but the location at what price? If there would be such an increase in price over the next 1 to 1.5 years, I don’t think Prestige needs to advertise this project on ET (all editions, not JUST BANGALORE). Another easy way of finding out if I am correct is to look if the guys who tried to sell (undercutting Prestige) were they successful?

          Finally, I guess there are not just 2 camps but 3, the third being the Prestige sales persons.

          1. There is a 4th camp – people who know that RE market in Bangalore is hugely inflated with artificial demand and unsustainable prices !

    1. Hello Asha,

      I have a North East Facing 3 Bedroom Flat in tower 1 on the 15th Floor, Please let me know if you would be interested.

      Best Regards,
      Mitul Gandhi

        1. Hi Murali

          I am quoting a price of 6250 basic +floor rise of Rs 15+ view premium of 25 + transfer charges of 112.36.

          Awaiting your favourable reply at the earliest.

          Best regards,

          Mitul

        1. Hi Vijaya,

          I am quoting a price of 6250 basic +floor rise of Rs 15+ view premium of 25 + transfer charges of 112.36.

          Awaiting your favourable reply at the earliest.

          Best regards,

          Mitul

  16. hi!

    I have purchased a 2.5 bhk in tower 3. I have picked up this place mainly for its location, close proximity to central business district and airport, reputed brand. Prestige is known for its quality construction and I am hoping they live up to it in this project also.

    It is a good pick in north Bangalore considering a lot of residential activity happening in the area.

    1. Have you sold this Flat or its still available. The price you have mentioned is inclusive of everything(car part, Club house etc etc)??

  17. Any idea of current price and status of the project? Is this still a good buy? I did book during pre-launch, now looking for my friend. Experts?

    1. The current price is between 6250 to 6750(basic price) depending on the tower, the project is slated to be ready by July to August of 2016. Incase you wanna pick up a 3 bhk I have mine it’s on the 15th floor and NE facing.

  18. I heard prestige misty water’s is built on burial ground and adj to the project there is a bid drainage.
    Is it true

  19. Important –

    Hello All,
    Is anyone aware on which floor the builders are planning for Refuge Area in-case of fire or other calamities ?? Has anyone asked the builder ??
    Pl confirm. (This is mandatory to all high rise buildings) – I did ask and was not told the exact floor.
    Warm Rgds
    RR

  20. Hello All,

    I have booked a 3BR in Misty Waters in Tower1, Overall I have liked the project due to the builders,location and price.

    Am looking at quite a bit of activity amongst PMW Owners on this portal Please do let me know if I can join some group or something that might have been formed.

    Regards,

    Mitul

    1. hi I booked 2 BHK Prestige Misty waters, the completion date is june 2016 , it is delayed
      I booked in tower 3 , overlooking the green lush , this is my investment , hope i have taken right step

    2. Hi… even i had booked a 3br in tower1 in last 10 days and looking for interaction with folks who have booked in this project…… can someone point me to group or forum to connect to people…

      i had visited almost all the projects in vicinity of this area for every single builder and somehow found this one as best among the lot given needs of size of 3br, vicinity and connectivity to currently available infrastructure, less time to get out of project by itself, availability of daily need as support system provided by bangalore in every area etc….

  21. Hi, I have booked a flat here in September.. Really nervous as this is my first investment.. Can I know,what infrastructure development is scheduled to happen in the near vicinity ? Also, iv heard that METRO RAIL is not passing through hebbal..is it true ?? Also, is grand Hyatt coming next to misty ??

  22. Are there any good banks that are offering Loan against this project – (Prestige Misty Waters) ??
    How quickly can you get all the things arranged and approved ?? (Any suggestions ?)

  23. I believe the construction has been outsourced to other developer – can someone crosscheck on the same

    1. Prestige misty waters is a project of Prestige South city Holdings
      Prestige South city holdings is a partnership firm (started in 2012) with Prestige Estates Projects (parent company and listed entity) having 51% and remaining 49% with Southcity Properties (India) Private Limited,

      Directors of Southcity Properties (India) Private Limited, are Dinesh Ranka, Dharmesh Ranka,Nishant Ranka ,manish Ranka, This projects sounds like some JDA or joint development .

      Now, i guess the construction part will be taken care by the latter as per Prestiges specifications.

      Now , Like this there are around 14 partnership firms wherein Prestige will have larger stakes. Hence its a common practice, Luckily in Misty , Prestige has majority stake. They can anyways take the project up by themselves and complete it.

      hence, we foresee that delays will be there in filling up their quota of bookings to kick start the launch, as market has slowed down in 2-5 months. Now things might get better and lets hope that the launch happens soon.

      The launch part keeps delaying ….. as usual..!..

      However, if you see how other builders like pruavankara, sobha, brigade, nitesh are struggling to sell projects and giving emi holiday schemes ….. I have not seen prestige doing that….. Hence, i do feel comfortable with this builder as of now….and i guess they will not spoil their image in public … the only problem is people who have paid up 15% upfront interest free advance … will feel the pain… and i hope the price appreciation later will cover up the same….

      1. That sounds to be correct, I went for a site visit yesterday to check on the development, and the model apartments are getting ready at the entrance (the structure was up and ready, and the sales guy Guru over there said that it will take another month for it to be complete). And they have outsourced the construction, if I remember correctly he said JDL to be the firm (but I am not sure if I am right about the name).

        Based on their numbers, they say they are 60-65% sold, with the premium apartments in last tower going for 6750 now. I don’t believe that completely, but I know handful of people along with me who have booked flats here, and they might be pushing up their marketing in the beginning of july (that’s when they expect the agreements to be signed as well, again per sales guy).

        The land is cleaned up now, and I am planning to pay another visit towards the end of month to see if there is any change and any construction activity is visible…

        All in all, while the 20% up front and loss on interest on that one does hurt as you said, I also hope that the appreciation covers it up. Fingers crossed !!!

    2. Hi
      They have outsourced the construction to M/s JMC constructions. I understand they have a few projects to their credit like the Mantri , RMZ and Embassy.

      WHat is the view point given that the sale price per sft is up to 6750/- is it a good buy?

      Regds

      1. The 6,75 is for the premium side apartments, which will face Nagwara Lake (with nothing coming in between in near future). I think you can still find apartments towards the inside for 6,25.

        On a brighter note, I got an official communication from prestige yesterday that they have got all the approvals, and they are ready for sale agreement. So game on… They have modified some floor plans, not a lot, so the layout remains the same, +-10 sq ft overall in most of the types, which is OK.

        1. I have booked a 3BHK flat in tower one in first week of August.
          Have you signed the sale agreement? Good to know that they have all approvals in hand.

  24. Guys thanks for your inputs and updates – I have finally booked the apt. I found it to be expensive investment and have settled for 2 Bedroom Apt – I also found the rates were going up very fast – and Prestige gave a good value compared to other builders in the Area.

    1. What price did you get it for? What was the floor rise cost?

      Did they say they will launch it in march or April? I think they’ll launch only in May or June

      1. nothing much!…they putting up a model flat.. which will take a month or so to finish !…and assembly elections coming up… hence approvals will slow down or be on hold for now….. until new govt-management steps in…………………l June or July will be launch ….. hope rains dont delay……

    2. Guys I have moved into a 2.5 Apt in Tower 3 – The prices are going to rise as soon as the work starts – wanted to make most of my investment.

      Does any one know if all the paper work has been approved by BDA or we are still waiting for some final signoff / clearances ?? (I know there were some minor tweaks in the plan).

      Any inputs on the construction start date and end date ?? (Three years will be tough)

  25. I checked with my Prestige sales contact today for one of my friend, and its 6250/6500 now (depending on what block you take, block 3 is 6250, and block 4 (the lake facing) is 6500).

    Block 1 and 2 are completely sold out (they were a long time back, because when I booked 3 months back there were only a handful of 2.5 BHKs left to choose from).

    Launch should be this month, end of this month is what I will assume (given that he said it will be second half of march). They have cleared up the area and are building the model apartment now, so I am waiting eagerly for it to be ready to check on the fittings and flooring quality.

    1. Yes..checkout quality before you book apartment…Ferns residency model flat surprised most of us…hall width was too smal…in floor plan they showed sofa taking very small space and rest was open…but in reality no space…also it is now difficult to fit big led tv in hall b/c viewing distance is too short….tiles color is pathetic….on similar note i suggest misty water buyers to check 2bhk floor plan…measure a space of 12*18 in your current home…it is too small for drawing cum dining room…..

  26. Today i enquired.It ranges 5800 to 6500/-. Shall i go for 5800.The price seems to be on higher side when compared with other builders on the same area.

    1. Harsha – Look at the comments on this website. It looks very similar to comments here. Looks like they are copying and paraphrasing the comments from here.

      1. Thanks Anon, I have noticed that too.. and have also written to them a couple of times to stop copying.

    1. Where did u hear that? Only one block is 6500 coz its interior and view of the lake.

      Let them announce the official launch first

      1. My apt is in 7th block. Heard about the 6.5k directly from Prestige when asked for my brother. Confirmed news .Not ready to reduce the price even by 1 rupee . He told me the launch would be in mid-Feb . Also told that the price will shoot upto 7500 by June (In fact he said 3 months from the launch , the price will go upto 7500- i.e May) ,not sure whether or not a marketing gimmy. As per his calculation, the price would shoot upto 9000 by end of this year. I am completely confused and not ready to believe. Can anyone throw some light on these assumptions and calculations. If he is to be believed, the price would be doubled 5500*2 = 11000 by mid -2014.

        1. Are you sure u booked in Prestige Misty Waters?

          As far as I know there is no 7th block.

          Tower 1 & 2 – 23 floors, Tower 3 – 22 floors, Tower 4 – 25 floors

          Site cleaning is in progress and as per the sales guy, no big launch will be done coz almost all flats are sold out.

        2. Tower 2, 3, 7 & 6 are 2.5 BHK apartments. Booked in sep 2012 . Have the tower numbers been changed? Will check on that. I gave all the PDCs , waiting for the formal agreement .

          1. You might be right. Here is the latest I got from the sales team:

            Rs.5800/- for Tower 1 & 2,
            Rs.6000/- for unit no 1,2,7,8 of Tower 3 ,
            Rs.6250/- for unit no3,4,5,6 of Tower 3 and unit no 1,4 of Tower 4,
            Rs.6550/- for unit no 2,3 of Tower 4.

            1. First two sky blue blocks from the entrance were tower/unit # 6 and 7. I will ask Pallavi or Vijay for the latest plan.

              Anon, any comment on the price prediction. 7500 by May-June, 9000 by end of the year. Double i.e 11000 by mid 2014. Too good to be true ? Could be a reality based on Lesl’s analysis :). Let us wait and see. Make no mistake , this property does have the potential. Best in my portfolio so far.

              Advised my brother to go ahead and buy based on the availability/budget.

              1. How does this look from an investment perspective now…Can I enter now depending on the availability and the price which has already gone up by 1000

                1. Hello Harish
                  Just Grab this property , it has all the features of one of the best location ,
                  transport hub comming near by,5 start hotel , kirloskar mall , lake , metro , high speed rail , and ring road , if you miss this chance you will never get such a location

                  1. Hey buddy, I have booked a flat here in September.. Really nervous as this is my first investment.. Can I know,what infrastructure development is scheduled to happen in the near vicinity ? Also, iv heard that METRO RAIL is not passing through hebbal..is it true ??

          2. As per my understanding, there are 4 towers.

            Tower 1 has 4 units/block
            Tower 2 has 8 units/block
            Tower 3 has 8 units/block
            Tower 4 has 4 units/block

            Each unit/block will have same floor plan.

  27. hi Guys !

    Made 2 bookings in 2nd week of Dec 2012. ( 2.5 bhk) 2 nos. premium facing.
    I was on hunt for booking for over 5-6 months and zeroed in misty!.

    Reasons of buying Misty

    1. Brand Prestige !.
    2. 200-300 mts from Ring Road , actually it’s on the ring road, if we ignore the small forest land & lumbini garden and lake. The connecting road is wide enough almost like a main road.You will be able to see this property( 24 floors ) easily from ring road.
    3. Apt chosen has a greenery view of small forest and lake!.. I bet nothing will come in front of my view for years to come. When it rains!.. it will have a beautiful view.
    4. The site has enough trees and further landscaping will be done alongwith other facilities.
    5. Nearby in vicinity to right : Karle Township … having malls, and commercial complexes and Manyata tech park ( which is still in developing stage , It might be the next ITPL like- kind area).
    6. on the left , a big huge 5 star hotel such as HYATT or Oberoi!.. coming up!.. huge amount of land being dug!..
    7. opposite side , Equinox ( Essar group) quoting housing flats more than a crore.< same as Karle project > . Misty is decently priced.!!!
    8. Huge tract of land next to hebbal flyover , has BMTC TTML project coming up!.. a huge commercial complex and some bus stand with depot,, hence improving connectivity. (HSRL ) prject , high speed rail link project will also come up in few years
    9. ring road across eqionox and tata motors side still not developed, hence many commercial complexes will spring up!…some malls or office spaces etc etc.
    10. the divider ending roads both side has flyovers , lumbini side and hebbal side, hence taking u turns to reach misty amongst signals should not be a major issue.
    11. from misty theres an internal route to access esteem mall side,,,, hence access to new airport road or (exit to misty) should not be a problem. Internally via kempapura you can reach thanisandra main road too ,
    12. Since, closeby areas yet to develop, further price increase has lots of potential due to development in area around!..
    13. If you travel from kr puram flyover till hebbal via ring road , only this stretch has not much construction , hence lots of potential in development.
    14. Now Airport,22 kms ( 20-25mins) if The fly overs come in, less time
    15. Cantonment station with 6-7 kms via rt nagar, yesvantpur station with 10 kms via new bel road or mekhri. Majestic Bus stand or railway station within 10-12 kms again. Banaswadi station( 5-6 kms)
    16. Kr puram , mg road , tumkur road , yelkhanka all within 10 kms and wide roads. Mg road to misty can be achived in flat 20-25 mins when less traffic.
    17. I am ignoring B ghtta road and jayanagar m howeeer if the metro project comes up in Nagwara , ( 18kms via metro underground passing mg road ) this should be achievable to 30 mins via metro in future.
    18. Due to lake , Borewell water will never be a problem…. Anyways kaveri connection is provided.

    Note : small drainage close by which is mageable by covering up , should n be a cause of concern …. As if anywhere in BLR people don’t have appts near a garbage or drain!.. and all are managing .!. stay in Mumbai and u will know what am saying!..Theres going to be 10 feet wall between the small drain and apartment.. The apartment building will be 20-30 metres from the wall with landscaping and trees , hence the stink will not be much or missing. The small drainage passing by the property is hardly 4 -5 feet wide and can be covered. We should ask Prestige to be kind enuf help cover that!… alongwith the help of Govt authorities.

    Dont u guys this with respect to points mentioned above the prices will cross 10k in 2-4 years!!…

    Thanks

    Lesl

    Critics welcome!… and even if u have a prob!… nobody who has bought this property really cares!.!!…

    My one aptt is up for Sale.!

    1. if investors are stopped then the appreciation to the project is also reduced, simple formula
      investor buy 2 flats at pre launch price after six months the price is up by 15-20 %, builders marketing is now limited as he has sold the max, now the investor starts marketing the project as he has to sell his units, he will go to every realtor in town and in turn the realtor will market it he will offer to those clients who are looking to buy in that area. no goes 1 X 10, 10 X 10 = 100, so 1 investor has market to 100 buyers.

      So lets keep investors.
      Thanks

    1. Hi AS,

      I have sent you a mail for access to google group. Can you check that please. I have booked 2.5 bhk in Tower 2.

      Regards,
      Mahesh

      1. Dear Mr Minesh,
        Can you please let me know the terms and conditions as well the cost per sft and any other charges like floor rise, garden or pool view etc promised probable date of compleation
        Regards
        Manjunath.T.R

  28. Folks,

    I visited the site yesterday and please be aware that this is next to a drainage. I would personally stay away from this property

    1. It is not next to any drain. It is the nagware lake which has been encroached. That’s why a portion of the lake had been developed as Lumbini gardens while the encroached portion is not developed which gives an impression to be drainage.

      Looks like the prices have been increased to 5650 per soft now

      1. Did you look at it? It is so filthy and full of mosquitos…may not be an offiial drainage but has all features of same. Even the salesman was saying that buy only on higher floor to avoid smell… For investment may be fine but not for own staying…i will def pass…

        1. Actually, this is next to Nagawara lake as well as a drain. The drain leads to the Hebbal Sewage Treatment plant which is also close by. Look up on WikiMapia or Google Earth

          1. I went to the location and saw that. Found out it is a storm water drain. Also Prestige said the small building on the road leading to the project is all illegal and the land belongs to the Nagwara lake. Will this part of the Lake be developed?

            Do you guys think this is a good buy? They increased prices already by 150.

            1. @cosmicwondrous, can you please share your feedback about the location? Is there a proper road from ORR till this project? can you please give us a google map link. I am bit confused where exactly the location is…… thanks

              1. Here is the link. You can click on the left hand side link to see a “bee” icon on the map.

                There is a mud road from service road (200 meters) and then after a bridge, you have the property on the right. It is a mud road, but i’m sure it will be tarred and maintained. The service road is in a bad shape till Manyata tech park, whcih will be improved in the days to come.

                https://maps.google.co.in/maps/ms?msa=0&msid=216498285001372161143.0004c9533c28659dc31df&hl=en&ie=UTF8&t=h&ll=13.045177,77.600791&spn=0.00648,0.013068&z=16&source=embed

                  1. no idea on exact location. you can google for Nagwara metro, there are a lot of results on this phase 2 project.

                    I guess it will be on the service road, either on the Lumbini side or opposite side…

        2. The sewage/storm (?) drain continues to go on beyond Nagwara lake and across Thanisandra road. When I visited the G-corp Icon site (just beside Manyata IBM location) the place was smelling quite badly. The sales person there claimed it was agricultural land, and that the drain would be covered up by the municipal authorities… seriously doubt both those claims! Had hopes for The Icon but not anymore… guess Misty Waters has the same issue.

  29. Hey guys…any other upcoming projects in Bangalore which are at lesser psf price and would give good returns. I am a first time buyer!

    1. There used to be a good web site where you can plug in various parameters such as life of an apartment, yearly inflation rate, initial cost, loan – interest rate i.e. if you are taking loan or bank FD rates, possible rent in that area etc. you might want to search for that on google.

    2. I have also booked a 2.5 bhk in Prestige. I have not seen the site personally but trusted the brand and location prospects.

      1. Hi Mahesh

        Even, I have booked the flat, can I have your contact number.. I want to talk to you about this project.

        Thanks
        Suresh

          1. Hi Cosmic

            I booked at Rs 5500 last month and Rs 15 for floor rise.. Have you booked the flat?…

            Thanks
            Suresh

            1. Just now received an SMS from a broker saying the prices have increased to 5800. Prestige s increasing prices for every 70 flats. So till now, 140 have been booked already., hence the second price rise.

        1. Hi Suresh,

          Di you visit the site? If yes, can I have your phone number..if you dont mind… Would like to discuss..Thanks

          1. Hi Tav2,

            My brother had visited the site.. have you booked the flat..please let me know your contact number, will call you

            Thanks
            Suresh

        2. Hi Suresh & Mahesh,

          I also booked one 2BHK. Can we be in touch through google mail or any other option? Please suggest.

          1. Hi AS:

            Yeah that is good idea, can you please let me know your email id,so that we can be in touch through email.

        3. hi
          i understand all the flats in tower 2 is booked , the real estate agency has offered me in tower 3 at 6180 psf . does it real worth it , i am not sure the price seems to very high
          c
          can some one suggest me

          1. I heard from Prestige that they have sold many apartments in block 5 also facing Lumbini gardens at 6500 per sq ft. Starting price plus floor elevation.

  30. I was contacted by agency telling that, rs 5500 per sqft is a a bargain, they were claiming that other builders in and around are setting rate @ rs 6600 per sqft. Just in time i happened look at this blog, and found that rate @ rs 5500 is a devoid of any logic.

    1. harsha, could you please advise your opinion on the data in magicbric website. It provides price trends at varios locations.

    2. In Hebbal, cannot find any other project from reputed builder with 2BR at base cost about 62 lakhs, in fact finding a branded 2BR apartment itself is impossible as all other projects like Godrej Platinum, Equinox Waters Edge & Karle Zenith have large 3BR or 4 BR only costing in the range of 1.5CR.

      Hence reluctantly I finally booked in this project as nothing else was available; waited long enough & did not want to risk waiting more.

      1. This seems very highly priced. I’m not sure why builders are pricing these pre-pre-launches so very high. Could it be to sell their existing unsold inventories in their current projects ? The current projects would look as good bargains when compared to these kind of pricing for new projects. Not sure who will pay such hefty amounts other than the NRI investors with bucket loads of money but not much of an understanding of the prevailing local market scenario.

        Almost seems like the market is being manipulated here.

        There are significant land parcels available in this area.

          1. I think the price is now 5800psf. If it is for end use, then ok. But completely no for investors. There is no scope for appreciation with a pre launch price of 5800 psf.

            Most of the buyers are NRIs who took laon loan at a low interest ( in western countries) and investing in properties in India…

            If you look at the way prices has been growing since last year, I strongly feel that Bangalore is going Gurgaon way….. 90% investors’ market…very risky market…. Think before you put your hard earned money…..

        1. Hi

          Many of the online real estate websites(brokers) promise a 1% discount payable later about 30-45 days after agreement is done, (not really enforceable though).

  31. what is the total no of flats and total area of the plot.3bhk with 2400sq feet avilable at what rate and complition of building

        1. @Partha,
          They have started realising that lot of people simply book at the launch stage and sell it after sometime at the good profit margin. This could be the reason why the launch price itself is so high.

          1. Plus, rate probably being set based on USD – INR exchange rate. Nothing different seem to be happening in local market in past few quarters (except for concerns on Indian economy)

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