Prestige Royale Gardens
Prestige Group will soon announce the pre-launch of their new apartment project called Prestige Royale Gardens on Yelahanka – Doddaballapur Road. The project to be built on 20.2 acres will offer approximately 1520 apartments. Expected date of completion is about 3.5 years from the official launch date.
Prestige Royale Gardens Options
- 1 BHK – 590 – 652 sft
- 2 BHK – 1313 – 1314 sft
- 2.5 BHK – 1360 sft
- 3 BHK – 1765 sft
Prestige Royale Gardens Location
Yelahanka – Doddaballapur Road, opposite to BMSIT college
Prestige Royale Gardens Price
As of Dec 18th, 2012.
Rs.3800/-sft only for the first few units.
Floor hike – Rs.20/- sft
Car Park – Rs.300000/-
Booking amount – 1 BR- 2 Lacs, 2BR- 3lacs, 2BR+Study-4lacs, 3BR-5lacs
Prestige Royale Gardens Concerns
- Readers have already raised concerns about the proximity of the project to the railway track
Take the poll – Is Prestige Royale Gardens a good investment?
Planning to sell my apartments in tower 2 (apartment number 2137,2167). If anyone is interested, please call me at 080-40702032.
Dear Mr.Ravi,
I am interested,want to know more about the property and rate.Please contact me at 9742090122.
regds,
Radhakrishnan
Is this property sold. If not do send me the details to my email ID
I am planning to resale the Appartment in discounted price – if interested please reach out to me on or give me your email-id so that I can send the details.
Reason for Sale – planning to buy ready to move in appartment.
Dear advertiser,
If you haven’t sold off your property,please -contact 9742090122
regds,
Radhakrishnan
I had bought a flat in the project at pre-launch stage and am willing to give it away as I am relocating to Gurgaon. Any interested people may call me at 9886957557.
Hi , Can you give me more details
My Email is :
what price you are planning to sell? you can send me the details on
Hi,
Please email me the details at
I heard they are increasing the rate to Rs 4K per sq feet by end of next week.
are you feeling bad for Prestige? lol
btw, just curious how do you know about unit sold so far and people dying to get out by paying 3 installments
Can you please let me know how after paying 3 installments I can exit out of Project
Ganesh, you are not at all interested about the project and see so many negatives, but seem to follow it very keenly and have a lot of information about it. Not sure why…Please don’t feel pity for the people who you think are trapped..because those people are pretty excited about the project and its success…
I actually booked one here last week 🙂 I feel this stretch can give me good returns in another 2-3 years.
2.2 kms before this project NCC is selling at ~4800
Opp Yelahanka Police station RMZ is selling ~6000+
Lets see…
This is the latest what I have from Prestige:
1. Project will be launched in July, 2013
2. The reason was delay in approvals is due to additional stretch of land purchased by Prestige. Now there will be an additional tower. Total number of apartments will be 1690 now
3. Model apartment should be ready in another 3 weeks
Also, Prestige is also coming up with a retail/commercial project on Doddaballapur Road.
I agree with your findings. Certainly the addition of new piece of land its deviation of their plan and they must be forced to take approval. This might have further delayed the project launch. Neverthless, it happens for good and shouldn’t mind it. Also, Prestige Star 2 is the small retail+commercial property near Yelahanka. It should support some of the commercial needs. Prestige Augusta is already on their website. PRG must be the next one to follow.
Has anyone made the agreement ?
I am the first timer in Blore, how usually is the Prestige Agreement details ?
I was about to book 3bhk Loft in Bharitya City , but just 3-4 friends of mine scared me saying they
have one of the most shity agreements in the world, that’s why just inquiring how’s Prestige usually ?
What about the 21 PDC, how you guys are thinking about the LOAN ?
Has any BANK approved this project yet ?
Since the project is at pre-launch stage, there won’t be any bank approving the project yet. Once Prestige obtains all the approvals, they will also get the bank approval. At the time of booking, it was told to me that they will get the approval of SBI first, so that other banks follow…
So you can take loan once the project is launched. Prestige also told me that the schedule of payment will be revised if there is a delay in the launch of the project.
There are many projects in the city which are offering no Pre EMI till possession, will Prestige will come up with something like this.
When is the launch expected for this project ?
If you have purchased a flat at Prestige Royale Gardens, please join the group at
Prestige Royale Gardens Google Group
i visitd the PRG site 8-9 times since December and everytime i went there, i never saw any one else coming there to enquire abt the project, i don’t know how they have sold 250, during Jan middle they were telling me that they have already sold 180 apartments. If it were selling like anything then tower 2 would have been completely sold out, but its not
Hi Vinod,
When I went 3 weeks back to the site on a Sunday, there were at least 4 other people who were present at the same time. So I am sure there is a lot of interest for this particular project given its excellent location. Also brokers book a lot of apartments and hold it until launch and release it afterwards. So the 180 number may be correct…
One cannot compare the project of north and east in terms of number of units sold with pre-launch or launch of project. North are for long term appreciation 5 years+. Short term gains will always move to east since they are eying quick move in – move out. One should also compare the %age difference re-sale price of north and re-sale east.
I don’t know if Prestige will able to sell the apartments at this rate. Though I had already booked 3BHK in T2 😛 , but considering their rate , and specifications (not even luxury , like Wooden flooring) no sperarte balcony for Master Bed Room and not at all for Utility) Its just that my wife and daughter says that i just got fooled by the prestige name 🙁 , even when i booked there was no clear floor plan show to me at all 🙁 . I felt i just got lured by Prestige name and 3800 sq/ft 🙁
You can cancel your booking if you think its not a worth deal.
Now I know you will not coz again you will think Prestige brand and 3800 rate is good deal.
just curious to know, what is the policy of cancellation? deduction is on amount paid or on total sale amount
@Sandym, from your past messages, it looked like you were totally convinced about this project. Any particular reason why you are even thinking about cancellation?
NO, am not thinking of cancellation. But since, Abhi suggested to cancel the booking to Vinod, just got a thought what is the policy to cancel before and after sale agreement is made
The cancellation charge is 1% of the total sale amount…It is not related to the amount you have paid..
i am told they have sold 250 unit till date.
They are lying AG
yaa..may be. But when i asked for tower one- they have very few available – almost nothing in 7 cat and they open tower -5. So not quite sure.
Has anyone made the agreement ?
I have been told that agreement will be made in April…
I got letter from Prestige saying that I need to make the Sales Agreement with in a month along with 21 Post Dated Cheques :O (as per the payment schedule sheet those guys have shared).
Also I need to dispatch a cheque OR DD worth 0.1% of the Total Basic Sale Value of my flat for the e-stamp charges :O … Did any one get that or they are scaring me only 😛
Thats :O strange. Did any one else get it too , i did not get any letter from Prestige so far
And 0.1% is total con, it never used to happen in Hyd.
As iam a regular investor with Prestige & Shobha and that is part of Prestige’s process it is followed for all their properties.
I think Prestige is lenient in terms of payment as they are collecting only 20% while shobha collects 30%.
I am talking about 0.1% fees that Prestige has asked for making the Sale Agreement. I am sorry i am not aware that any builder charges like this ?
Also any idea what would be the split of Cost of Land , Cost of Construction and Labor Cost etc for this Royal Garden project.
0.1% is towards Franking charges. Its a govt. fee for agreement. And every builder will collect it.
Thanks Saurabh for the clarification
When are the PDCs to be given – now or while making the agreement? Subsequently what should be the date of the first PDC – as per the payment schedule or launch date of the project?
It is really funny. How could one issue PDC’s if the project has not been launched and agreements are not in place?
And it may be very difficult to plan the initial finance if it is from own source of income. Or else the funds will be lying in the SB account if the agreements are not in place!
I think, we should inform the builder to collect post dated cheques only at the time of signing the agreement and if some of the contract clauses are not acceptable to either of the party he may withdraw from the investment as well………..
WHEN A BANK LOAN IS TAKEN, WHY WE SHOULD GIVE PDCs – PLS CLARIFY
PDC’s are meant for timely payment to the builder based on time schedule and not necessarily against progress in construction. Bank loan will be sanctioned in our name and the money will be released against our instruction to the Banker once the Invoice has been received from the builder. Hence, there could be loss of time during communications. PDC’s will have definite dates with which builder could plan better.
I visited the site today and was quoted Rs 3900 by Mr Faaiz. I have decided to purchase a 2BHK in the 2nd block.
But he told me that until the first check (Rs 300,000/-) is realized, Prestige will NOT give any documents (not even a receipt). He also mentioned that whether the property is launched or not, another check (Rs 790,000/-) will be realized within a month from booking. Appreciate your feedback. Is it true for all the other buyers/investors? Have you guys already paid this much money to Prestige?
Yes
Yes its true. After the first cheque was encashed… I got a fancy Receipt from Prestige saying they have received the money.
Cheers
Ravi
I think you misunderstood. As i have also booked a 2.5 bhk, I have received a letter from Prestige along with the paymnet receipt. 20% has to be paid within one month for which they will send the paymnet receipt again.
I have booked a 2.5bhk in Prestige Royale Gardens. I am new to this business of pre-launch booking, so have a fundamental question for all the experts here:
So far, about 160 apartments have been booked in PRG under the pre-launch offer (which is less 50% of the total apartments in 3 towers being offered). I heard from Prestige that they are thinking of launching this project at about 4200psqft. How do they hope to sell more than 1300 apartments at that rate when they have managed to sell such few numbers at 3800-3900 psqft? I understand that it will be possible to get bank loans after the launch, can that be the only reason for the sales to pick up? Are there more reasons for the selling to increase in a project after the official launch (at a higher price)?
Pre-launch experts, please help me to understand!
Many people are not ready to invest in Yelahanka, but considering the BIG builders plans that are coming on that road, I don’t know should i say that are we fools who had paid 3800/3900 per sqft for that location.
As just few km before , when i checked RMZ galleria and i got shocked to hear its price, though they are ultra luxury apartments. But still we don’t know still what Prestige Royale Garden specifications are going to be, are they going to be Luxury or Average 🙂 Or its just the Prestige Name 🙂
@NG, I do not think they will have luxury specifications but in anycase, Prestige has the reputation of not compromising on the quality.
My question was not really about why the selling is low now but more about- how can they sell more after the launch (at a higher price)?
🙁 Its like paying such a huge amount just for the base value and then getting nothing 🙁 i am now feeling scared 🙁
In general most of the sell happens after the official launch only where they have all the specfications as well as 100% approval and people will have more faith too.
Prestige direct sales/marketing will focus more on selling properties once official launch happens. Channel partner also demands more commission to increase the sell and after launch with more focus Prestige or for that matter any other builder does that.
This is generic and not specfic to Prestige. If ~160 appartments are sold (based on comments given by someone in this thread) without the official launch itself says this is something good.
Rest is future and let’s wait rather thinking much about it now. 🙂
Kalrav
I understand it’s a mid segment project and the specifications will be decent enough.
Check the specification of Garden Bay its available in website.Hope prestige maintains similar specification as this project was also launched at 3800 and it also comes in same location.
hi friends,
i booked 1BHK after cancelling at shriram property at abbigere( i was booked 3 BHK at the price of 2700/- at shriram)
one way me happy since the prestige is reputed name and prestige royal garden is in prime location..but the other way me little UN-happy since me got only 1 BHK..but i couldn’t afford 2 BHK..
some of my points and please consider this while selecting the towers:
1. avoid selecting at rear side towers since the high voltage lines of rail way may ( which may be installed later) create some EMI/RFI problems ( electro magnetic and radio frequency disturbance on to human/children/electronic equipments)
2. this is serious issue and any one can know about this in google ( radiation hazardous on human or equipments by high voltage electrical lines and other ways )
5. there may be sound noise in rear side towers ( may be min) due to rail traffic.
6. i suggest to select other towers other than rear side.( as i did )
7. other than this, the prestige royal gardens is excellent ans located at superb place.. i loved it.. ( if i can afford later, i wish to jump to 2BHK)
Yeah I agree Prestige is a very Big name in Bangalore, and when you tell some one that you own Prestige apartment, people will see you with respect 😉
I have been doing lot of study from the past one year, i thought of booking shantinekatan but its just that the deal did not happen.. Then Royale Garden came, and seeing the infrastructure thats currently getting developed in North Bangalore, Royale Garden and on Dodaballpur main road is really a gem. It will be another Acropolis in North Banglaore
Did anyone compare Royale Garden with Shriram Suhaana with respect to price/amenities/location etc?
@Manjappa,
Dera friends, I am planning to book 2bhk in RPG……please suggest me the tower and side shall I choose to book considering your mentioned points.
Thanks
Tanweer, If you have got any information, can you kind share it. I am interested in this too. Can any recent buyers advise on the current rate.
I booked 3BHK in prestige royale garden and I also went to Ramky before making the decision .
Few of my friends have already made me aware about Ramky (as they hadbooked Ramky in Hyd and told about the construction quality)..
No doubt the carpet area is just awesome in Ramky and when i walked into 2 apartments in ground floor of Ramky north, i did find big visible lines of CRACK in bedroom and dinning area. Also the laminated floor looked like it will come out if I press my foot hard on it, so there i decided NOOOOOOOO
Please dont compare Ramky with Prestige as one of the Ramky buyer here in this forum has already agreed that we should not compare Maruti with BMW.
Its just that people were eulogizing too much about Ramky and its price thats why , i just put my observations…
What price did you pay ?
3900 / sq feet as base price…..
Are you planning to buy? Can you mail me at ?
I have booked in Prestige Royale Garden and not in Ramky1 north
500 Votes today and Yes 77.2% (386 votes). I sometimes wonder how many are fake votes from promoters.
Regards,
Ravi
Yes 77.2% (386 votes)
No 13.6% (68 votes)
Not Sure 9.2% (46 votes)
Total Votes: 500
Seems to be quite popular project.
There is one unit on the 16th floor 2.5 BHK, from a investement point of view, do youll think its a good flat to go in for. Its facing the open space (pool).
hi,
even i had booked the top level in 2.5 bhk. looking at the climate in bangalore i think top floor is good.
Hi Mohan,
Can you please confirm if you paid the floor rise price apart from the base cost. I am new to Bangalore and not sure if that is a norm here? Appreciate your help to clarify,
Hi Folks, I am interested in this property… How do i go about booking process? Should I get a lawyer involved? is there any contract to sign at this stage?
I would really appreciate your help/advice with this.
Thanks & Regards,
Ravi
Hi Ravi,
You can call up the prestige office and they will put u thru to their sales team . Alternatively the sales team is present on the site on weekends so you can meet them there and take it forward. There was no formal agreement , just a confirmation on the booking for us.
Rgds
PS
Hi Ravi,
I am an investor here. this property is still in pre-launch stage. You may wish to contact the Prestige guys directly. They are processing the approvals so once its done, you may involve lawyer. Another forum, NKS has mentioned Prestige and Shriram properties have received BDA approval. I am going to ask him for more details.
Hi Guys, Appreciate the quick responses. did NKS say PRG has BDA approval?
Cheers
Ravi
Sandym,
Did you book any apartment in PRG? just curious to know…
Regards
SJ
yes, the sandeep in the group, is me 🙂
Those who have booked this property and has not the joined the google group yet, can you please join prestigeroyalegardens at googlegroups dot com
They claim 70% is open space, which in the master plan is just minimal setback area which doubles up as pathway for vehicle movement
Disclosure : I am going ahem as with ramky anyone interested in group purchase we might be able to haggle our way through to 3050 🙂
Hi,
Do you think it is good from investment perspective considering rates have been revised or is there a better option available now in bangalore realty market.
What about the railway track next to the project? Its just 50 feet from the project and there is air force base there.. Wouldnt residential locality be very noisy out there?
Hi RS, Please share your email. I am interested. We can continue discussion over email. Thanks,
Hello,
@RS: Did you book with Ramky?.
I am also interested in Ramky.
Hi RS,
Have you booked at Ramky? can u mail me at
I am also interested.
Floor plan since pre-launch is the same what this website is showing, even i haven’t receive anything which is official for my booking. Only difference is 2 bhk is 1302 and not 1314 as mentioned earlier
PS:
3900 is not the rate right now, i think its 3950 and by Feb its going to be 4100 (as what Sales talking). Well, Ramky and PRG are 2 different project and 2 different brands. Ramky is more of value for money and some of our good friends has given interesting comparisons. PRG is big project of 20 acres, it comes with interesting amenities, big club house, pools etc. Its gonna cost more than what Ramky can charge you. Also, Prestige projects don’t need to mention about quality it brings, though i am not quite happy with carpet size. 3 bhk of some blocks are having balcony facing pools, club house and some towards gardens. May be worth waiting if you are looking for self use, but rate may increase a little.
Current rate is 3900.No update on hike from sales team.Please dont pass any wrong info to others.
Hi Sandym,
Is the floor plan on the link is the updated one?
Regards
SJ
Yeah , indeed true…. and the prob is all the towers are not open for booking so u actually have limited option. Even they just have one balcony so was wondering how they would manage to provide place for AC installation,etc. Am really in double minds…Ramky is good but i feel the built -up area is small. With prestige brand name and the amenities they r providing , what do u think 3900 psqft is good deal or not ?
Hi PS,
Floor plan of 3 bhk is nice as well, but i didn’t like the positioning of balcony wrt the block facing. Some blocks have very nice balcony facing but others may be not that good. You may wish to check out the plan https://www.facebook.com/media/set/?set=a.180130902129609.46862.100003981005356&type=1
Has anyone booked a 3 BHK at PRG? Would appreciate if someone gives a feedback on the floor plan of 3BHK.
Thanx in advance.
Hi,
I completely agree with your observations.
I think the key selling point for this project are
* Close to PRR which will bring airport not more than 15 kms
* RMZ Galleria Malls for socializing, entertainment, shopping etc. in 5 kms (not bad either compared to Thanisandra / Hennur Road)
* Since Yelahanka already developed locality, one can find all necessary amenities from banks, groceries, vegetable markets, petrol stations, bus stations etc.
* Reputed general hospitals, eye and dental clinics etc.
* Needless to mention, lot of reputed state as well as international schools, junior college, degree college just few kms
* Yelahanka railway station could be of use for someone who like to commute via railways.
* Even with all these, still a quite place, open and windy. Though some noise of railway would be disturbing for few, but also note railway is already working on doubling the track (up and down lines) as well as electrification. Thus diesel engine won’t run in future.
* Elevated expressway
I see no comments on any proximity to metro, hence I assume that is lacking factor. But Hebbal is not too far either by road.
What is the ongoing price?
Hi RS,
What do you mean by defined open space? Are you trying to locate the site? If yes, then it could be located on wikimapia
Went there yesterday all the open area is the pathway for vehicle movement didn’t see any defined open space
Hi Manish,
I also liked Ramky’s project but looking at the site-map, there seems to be no open space. It is an odd looking site, almost completely occupied by the buildings. Did you notice the same during your visit?
I actually went to PRG thinking of making a booking for 2.5 bhk there[floor plan was really good].. but same day i visited sriram and ramky one north as well and finally ended up booking a 3bhk at ramky, builder is relatively unknown in bangalore so risk factor is there but have done some good work in hyderabad with some delay [9 months for few of towers,but it was a hugh project i guess]..
one cant apples to oranges and it will be premature to put Ramky in the same league as prestige.
however price difference between these 2 projects is way too much as of now.. ramky is quoting at 800-900 discount to PRG, i guess that too much of a discount.. i would say 600 is fair advantage to prestige brand. I have no doubt by dec 2013 Ramky would be at 4100 and PRG at 4700-4800 range..
happy investing.
hi Manish
how much did you pay?i mean what is current with PRG and RAMKY one north? if you could help please?
I was able to negotiate some 25 rupee discount, however that was only offered for west facing unit on 9th floor; i was more interested in east facing ones so no discount was offered, i think i got the last one on 11th floor which was there premium floor as well.
rate is what they quoted at that time 3110. i think they plan to increase it in next 7 days by 150-200. let me know if u need any help, i think for few units you can negotiate.
also they plan to launch tower A around 3900-4100 later this year. also topmost floor on C tower is not yet opened to public..
Where is PRG LOCATED I saw Ramky north went up all the way upto rajankunte no sign of PRG
Its just next to RMKy but since its a joint venture with Royal builders u see their sign board ,even we were surprised when we went for the site visit.
Hi All,
I am very interested in this property but have a big concern regarding location.
I keep hearing that this is an upcoming area, it will see a lot of growth, etc etc…
I have not personally visited this area but still did research it…I do not see how the market price at this area is this high (even NCC is quoting 4000).
I don’t see any big commercial around.
Yes, there is Manyata tech park but as far as I know it’s a medium sized park and people working here have a lot of residential options at Hebbal, Thanisandara road and Hennur Road etc.
Why would somebody want to live here at a high cost (ITPL is 30 kms away)?
I know about the humongous business parks and SEZ’s that will come in next 5-10 years in north but they too are planned 15 km further north of BIAL, which means they will be quite far from this location.
Once those parks come up, residential area around BIAL will pick up but this location is still 30-40 kms away from those places.
I understand that this area is relatively open, green and calm but it seems that this location is neither here nor there…to me it seems that it will definitely grow (after all it’s Prestige) but it would grow quite slowly…
Rest I leave it to experts 🙂
Hi A!
At last some intelligent and practical thoughts I could see here. Though I have booked a flat in this area, I do not see much prospects in terms of buisness units coming near vicinity soon that this area will be preferred for stay. It is not near to Manyata Teck Park also, but Doddballapur road is becoming thick packed residential area with NCC/Sobha/Prestige/Legacy/Shriram (2 Projects)/Ramky/Century(2 projects) and most of it on the railway track side. But not sure why the prices have gone up suddenly (NCC Meadows increased from 3500 to 4000 in Nov). The Mantra in Bangalore is “Simply run in the direction everybody is running”.
Since you mentioned nearness to Manytha Tech Park, the Project Unishire T ERRAZA at Nagwara is at prelaunch stage at 3750 psft. I have blocked an apartment there, intent self use/rental. I felt it is excellent price as right behind Manyata and very near to Thanisandra road, just around one km from ORR and Proposed Nagwara underground Metro station (it is a remote future only!), not many projects offer this good location. If anybody interested checkout.
http://www.bangaloretrends.com/realty-articles/44-bangalore-north-commercial-belts-hold-promise-of-development.html?showall=1
http://articles.timesofindia.indiatimes.com/2011-02-26/india-business/28636779_1_villa-project-sarjapur-road-outer-ring-road
I did some more digging and it seems that the location will actually develop as a good residential hub…Especially if the PPR comes up…
Let’s ignore Manyata park (it’s a medium size park right now and will grow bigger but it can be served very well by the properties near by)
and concentrate on the upcoming developments on NH7, Devanahalli and ITIR…these all will be humongous SEZ’s and will drive all the growth in North Bangalore…
From these parks, royal gardens is cheaper and same or less distance than any property in Hennur Road, Thanisandara Road, Hebbal …
Again looking from the upcoming parks POV, the only location better from PRG right now would be Jallahalli and Jakkur (Basically the right arm of V that NH7 and Doddaballapur Rd form) but the rates in these areas are already quite high (Century is selling at 4250 in pre-launch)…
Now imagine once the PRR comes up..it will actually make PRG better than properties in Jallahalli…you would have a connection to NH7 so the distance to these huge parks will be comparable to the distance from properties such as century breeze..and it seems Doddaballpur is more green, open and calm (better residential area)
The distance from PRG to ITIR is 15 kms (not bad at all)
Also, look at the sky-high rates on the bellary road (Good apartments there are
already reaching 6000+)…so naturally the demand in doddaballapur will increase…
Waiting for people to put holes/thrash/somewhat agree with my analysis 🙂
No doubt that this project will appreciate.but it will take some time.Its not gonna happen immediately.
Hi,
I was very interested in this property till I stumbled upon Prestige Monte Carlo. It is a very similar property by the same builder and at a close by location (actually a better location as it’s on the left side of the Doddaballapur Road and thus far away from railway track).
You could buy a ready-to move in 2 bhk in prestige monte carlo today for 50 lakhs, where as a 2bhk at royal gardens, which has not even started, is 55 lakhs (The area in royal gardens is a little more so we can say effectively both apartments are available at the same price).
Now I am thinking from both point of views (mine and the next buyer’s (in case I decide to sell this property).
If I am looking to stay, monte carlo makes definitely more sense as you could save rent for 3-4 years.
From an investment point of view, there are multiple scenarios
1) If I plan to sell it after one year, the price from builder would probably be around 4500 (right now, its 3900) and I could probably sell it at 4100-4200 psft. In that case, I could make 2.5 – 3.5 lakhs profit (Is it really worth all the trouble? with the same money, I could get a risk free 2 lakhs in FD). If I resell it, the buyer would potentially be another investor only due to the same reason I mentioned above (Monte Carlo is available at the same price and ready to move in). There are so many apartments available in this category (resale after 1-2 year of launch), I am not sure how easy it will be to sell it.
2) If I sell it after completion (3 years from now), I will be paying another 10 lakhs for registration, vat, etc and by that time, I would have already put in 65 lakhs in this property. Now considering that the rough value of a ready to move in apartment is 55 lakhs today (the one in Monte Carlo), I don’t think I could sell it for more than 75 lakhs 3 years from now. So the profit will be10 lakhs in 3 years. Is it really worth it?
All this analysis tells me that the property is over-priced.
I would love if some experts can comment. It’s just some analysis I did my own (and I don’t really know deep rooted details (may be secrets 🙂 about the real estate market in Bangalore).
Thanks!
Well i congratulate you for your effort that you have put to compare 2 projects and have drafted this post.
But what i feel is that there are lot of approximation and assumptions while writing this post which may not be correct.Using statistics to prove your point is a art.But also you have to think on viability and exactitude of statistics.
To begin with ..
1. Monte Carlo 2 bhk area is 1150 sqft currently selling at 52-56 L (basic cost) depends on facing and orientation of flat.
So taking assuming mean 54L for decent orientation apartment per sqft price will be 4695/Sqft ~ 4700 sqft.
2. Now considering investors point of view (considering short term capital gain 1-2 yrs) booking 2 bhk at 3900 sqft in Royale Gardens area 1313 sqft.
sale value of flat = 5120700 + 300000(car park) = 5420700 .For booking you have to pay 20% which comes around 1084140.
From June’13 (expected) on wards your bimonthly (occurring once in two months) installments starts.Which will be around 240920 (80% of sale value
divided in 18 installments).Suppose you sell your apartment after paying 4 installments by that time it will be first quarter of 2014.
Now by this time paid amount 1084140+963680 =2047820 (Invested money)
a) Return on FD.
Even popular banks giving 7.25% on FD for 365 days. I will take it as 8% for calculation.FD done for 15 months.
Maturity Amount :2260959
Total Interest Receivable : 2260959-2047820 = 213139 -21313(TDS @10%) =191826
Effective Yield : 9.36%
b)Return on resale of Royale Garden.
How much appreciation should i consider till the end of Q1 of 2014 is a question.Considering Monte carlo which is currently at 4700 sqft now.
I am taking Royale Garden to appreciate at least 4500 sqft by that time (which i am sure will be more than that as it happened with all Prestige projects)
So gain here is 600 /sqft .Taking out transfer charges and calculating return:
500*1313 = 656500 (I am not considering tax deduction here as i will be putting this money in next pre-launch)
Total earning : 656500
Effective Yield : 32.05%
Coming back to your point of “taking troubles”, sorry i didn’t get exactly what you are you talking about.I don’t find any trouble making simple move in
investing in good pre launches.
Coming to resell (whether it will be easy or not) .If you can’t sell your Prestige apartment then you should not invest in real estate.Please go ahead with FDs.
Again according to me there is no point waiting for registration process.
Whatever I have commented here is just a exemplary comparision. And may not be 100% true.
According to me you cannot compare two projects which has time difference of more than 5 years.
I also feel monte carlo is milestone project on Dodballapur road but Royale Garden will be better than that.
Finally i want to say no risk no gain.Its your money and your decision,to put in FDs or in some good Pre launches.
I personally feel the latter is better.
Disclaimer:
1.I am not from Prestige marketing team.So please keep that idea out of your mind that I am promoting any company.
2.Please correct me if any error in calculation or if I have missed some important point.
Regards,
PRG investor
Excellent comparison by both of you.
PRG investor has shown practically how investing in apartments works.
Most of the ppl calculate the growth on full amt. but in actual we don’t pay full amount.
But when I closely compair the PMC & PRG I have a few questions:
PMC is available for ~4400/sqft (54L/1180sqft) but this price is all inclusive (except reg.)
PRG is available for 3900/- + 230/- (Car park 3L/1313) + ~370/- (others eg. club, bsswb, bescom, maint etc).
So effectively PRG is 4500/-
Also, PMC is nearer to city and its not near to railway line
Which means a better ready to move in apt. is available for lesser price, why should one go for other choice by same builder.
I am not against PRG or pro PMC, I just want to know if there is any logical reason to expect a higher appreciation from PRG. Or is it that just because its a new project so it will be more popular and is a high rise and a bigger complex so it will fetch more appreciation?
Good comparison of PMC and PRG.
Some point are missed in analysis.
Case – A
If you are end user, PMC is far better than PRG bcoz of railway track. Its a big nuisense. Believe me. Unless until your parent were in railways and you always stays near railway track. Than it does not matter….
BTW, if you have only one home, it does not have any values. What i mean you never (99%) gng to sale it…At least, that what i learnt thru my life. We have home in VV, new Delhi, bt it does not have any value bcoz we never going to sale it. (that different-Its mkt price may be in 6 digit)
Case-B
If you are a pure investor and never going to be an end user. Than it does not matter much. In above analysis, rental income of PMC is not counted while doing calculation. You need to take into a/c the same.
One more point when you compare PRG as a pre launch and PMC or FD as another option.
In PRG prelaunch, you need invest only ~10lacs in a month or 2 an then rest you need to pay in installment after June. You have ample time to play with your money. You ca put those extra 10lacs in FD now and get extra income. 🙂
If you go with PMC, you need to pay full amount now or start with loan which will imply you nee tos tart paying high EMIs.
Consiering all these points, I prefer prelaunch from prestigious company who allows you to sell after 4 installment with installment amount is less too.. Not every company gives you ~18 installment plans..
Again PMC which is 7 years old while PRG will be compeletely new so you will get the latest technology benefits too along with 4 years timeframe to pay your money.
Kalrav
you have only paid 20 Lakhs which is part contribution, so how can you calculate the 600 increase for the paid up capital while 600 increae is for the entire flat cost. Didnt make sense
Hi All,
My analysis is below is only for those who can spend some time to understand it, so do not bother to reply to this in a hurry.
I am a buyer who bought Ramky One north just yesterday, seeing a lot of postive in terms of quality, high carpet ratio of 80.5%, project progress, transparency and good customer care, a builder still picking up in Bangalore and MAINLY comparision to PRG cost. For carpet area of 1092 sqft (BA 1196 sft and SBA 1358) I will pay including registration 51.8 Laks at Rs. 3060 psft, completion of phase2 by Dec 2014. Note that that this plot is just before PRG. Infact I was following up this project since some time but thought worth when PRG launched at 3800, infact I was first only advising others to buy as I had bought another project already, but now I own one there.
Prestige Monte Carlo as I mentioned in some of my posts here, I was very close to a deal for a 3BHK on a high floor at 3900 plus corpus fund plus registration including all other costs , that too from builder (this number is accurate, all other numbers here on PMC and PRG are assumed for comparison). For 2BHK of 1150 (assumed) then it works out to around 49 Lakhs only. NPV tool (net present value) discounts investments at 9% per annum FD rate compounded monthly. NPV is a better tool to ABSOULTELY compare investments at same instance of time i.e. today adunsting for depreciation and interest cost. NPV of 12 months rent @15000 pm works out to 1.71 Lakhs. Sale value assume 4600, then NPV would be 48.4 Laks (easily possible as NCCmeadows next to it is selling currently at around 5200 inclusive of all). But then the net is is 1.1 Laks profit TODAY. Minus commission of 1%+1% it would be a net profit of mere 12000.
For PRG if you assume that @3900 psft for 1150 sqft (assumed same area) you pay 16 lakhs (30%) in 4 steps in one year, the NPV will come to only 15.5 laks today. If you sell it at 4300 after one year (assumed 4500 from builder, minus margin minus builder charges), you NPV of profit for 1150 sqft flat works out to 4.2 Lakhs minus commission of 40000 (1% on total cost) comes to 24% of return on investment.
So the Monte Carlo is a better choice for self use not for investment but PRG is. Infact any project which is in second year of stage or is completed, is NOT for investment but for self use only as you have to pay all upfront. Also, you need to dicount for the age of the building in long term which why it is available for 3900.
For RAMKY One north, the appreciation I assume would be much better as it is in adavanced stage and PRG price/NCC Meadows Price has become a reference and big price difference is there where as in outcome it is much better as get around 10% more carpet area as well. BUT I am not an investor, I would be staying and hence I chose the apartment which away from Railway line and opposte facing.
THOUGH THE TWO BUILDERS CANNOT COMPARED, on a carpet ratio basis the cost works out to 3801 Rs psft (at carpet ratio of 80.5%) for One north where as for PRG it would be 5270 Rs psft (Carpet ratio 74%). I.e. 38% more!!!.
IT IS NOT AT ALL A COMPARISON BETWEEN TWO PROJECTS BUT AN ANALYSIS ONLY FOR THOSE WHO MIND IT, IF THEY WANT A QUALITY SHELTER ONLY FROM REPUTED BUILDER. NO MEANING IN COMPARISON BETWEEN BMW AND MARUTI.
Wish you all happy investing.
Please hold of your buying till Real Estate regulator is in place..This is going to be game changer in the real estate industry..and no builder will be allowed to per-launch their project..This is illegal and not a good business ethics.
Builders selling carpet area is illegal
Paying peanuts as penalty is illegal.
Paying penalty amount within stipulated time is essential else interest should be given along with the amount paid
cancellation charges is illegal..only a small fees they can deduct
delivery of the project on time is must else penalty should be paid.
Also do not think that prices will increase. There are more than 50 % of the apartments which is not sold in bangalore. Prices are not going to increase in 2013 or 14. in face it will reduce further..
My suggestion to everyone is do not get tempted to book anything till Real estate regulator is in place..
Hello Priya,
Could you please explain further what is this real estate regulator.
How it will work? When it will be in place?Who will be part of it?
If 50% if apartment is not sold why the price still rising.
Price rise is linked to demand supply rule.There is no point for buiders also to hike the
price and then not sell the apartment.So it implies that builders still manages to sell the
apartment at revised rate.And definitely there is surplus buyers and lot of demand in Bangalore.People from whole country investing in Bangalore.As this city still holds the
charm in terms of price and other conditions.Also please provide the data how you can say that real estate price will go down in 2013-14.
Thanks.
This is a actually a misconception created by builders and the genuine buyers are the one who suffer. As far as empty flats are concerned, it is true, the builders never release all flats in single go. A psuedo high demand is created in such way and builders just keep on increasing per sqft rate to keep investors happy.
How can a rate of property increase by 200 -300 sqft in just few days ?? this is all crap and we push ourselves into this web.
Flats are blocked to create a wrong impression that project is in high demand. Infact flats are released into market slowly to make extra bucks.
Just check the the property sites to buy flats, there are a long list of flats which are unfurnished past 2 yrs. For example consider Shantiniketan… it is almost half unoccupied.
And the prices are increased in misconception that flats are not available.
I would say govt should just issue a single rule that person buying the flat has to get it registered in his/her name before he/she can sell it. I believe this will restrict many of the so called investors and even the prices wont increase as they are right now.
I too agree that the builders create a hype of overdemand. In almost all the projects of any builder, the most convincing Tower/Apt are already booked (even before prelaunch), then they force you to buy apt which are either on the back side of the project ( close to railway track :-)) or something which will not be sold easily.
I wonder if any one has got allotment of an Apt in Tower 1 or 12 or 9 in royal garden?
Hi All
There is a good point here. Real Estate Regulator (RE) is going to a be a phenomenon of future, but not sure when.
RE is going to put discipline in preseting projects, pre-requirements before launching and starting booking, what minimum information is to be presented to buyer which include carpet area (which most builders do not), ensure that builder gives actual room dimenion in drawings (not to include wall thickness), guidelines in penalties for project cancellation, guideliens in increasing prices, proportional penalty for project delay. time window to respond to buyer greivances, rules to cancel licence of builder etc. RE is going to ensure that the buyer gets full information when he books, means he knows he buying a BMW with high features but low mileage or MARUTI with low features but high mileage.
RE is NOT going to decide what should be the price or what should be the price rise, it is all the buiders’ business side. But it will ensure that the buyer gets in to trouble with all information, ensures that buyer would NOT say later that I did not know. The good side is that the builders would be then disciplined which is totally missing now.
But the net thing is that for those builders who already follow this (there are only a few) they would not incur any additional cost, but for others it means they have to increase price further to maintain same margin. So logically, the net effect may be that the flats price will go up, but only in the beginning, there after it should be a smooth ride for buyers.
I hope this might bring some discipline in price rise by builders and make homes affordable to buyers, but not sure how.
>> Price rise is linked to demand supply rule
Which demand is one talking here. Real demand? Artificial demand?
>> If 50% if apartment is not sold why the price still rising
Reasons for that are available in media. Read some economic articles on bank loan recovery related issues etc.
Hi Priya,
I am not sure if anyone is working on Real Estate regulator as of now. Any idea when is it going to come out in public? Or this is just our assumptions that it will come some day?
Kalrav
Do you have data to prove all your claims? Claiming that 50% apartments are not sold is easy without any data. I can also say that 90 percent of apartments are sold…prove me wrong. Can you????
Hi Priya,
Ideally the points you mentioned should be implemented and these has been talks about Real Estate regulator. But can you provide any reference that its anywhere close to reality.
Specially when we are moving towards the most dramatic election of recent times (2014) any change which is unrelated to “common man” is unexpected.
I wish that it becomes a reality but I think it is still an idea and far from reality any time soon.
P.S. Sorry mod its out of topic. We can have a separate thread for it.
The real estate regulator will be passed early 2013. I think the govt is also serious in getting this becoz of lots of corruption and scams. The current problem today is Banks are not lending money to the real estate company so all builders has to get the money from Private equity. Here the interest rate is very high..so they are doing pre launch.
I would suggest everyone to google about the real estate regulator bill..and provide suggestions to the government if you have some.
if the bill is not passed..we all should plan to fight for the bill..if we do not join hands who is going to bring the bill.
Just keep insisting the builders that we can only pay for carpet area and there should not be any charge on the car park.Its a open book now that most of the apartments in bangalore are not sold..the waiting period is 28 months to be sold.
I would request all the like minded people to form an group and let us file a PIL in supreme court for getting this industry regulated if the bill is not passed. The builders cannot take the people for ride..
I have written mails to president , prime minister of india regarding this..and hope more people join in sending mails to them..
Early 2013 (budget session) may not be possible (budges, delhi rape case, T-issue many things) but 2013 monsoon session it may be “Presented” but don’t know when it will get passed.
Any how its highly required.
There is an existing thread, we can continue discussion over there.
http://harshasagar.com/2011/11/15/proposed-draft-real-estate-regulation-bill-by-ministry-of-housing-and-urban-poverty-alleviation/comment-page-1/#comment-8240
Regarding unsold apt in bangalore, as per recent TOI report bangalore has least inventory of 10 mth (8 mth is ideal) while Mumbai has over 40 mth, also price in Bangalore is less compared to Delhi and Mumbai. Hence I expect healthy buying In Bangalore market this year for both self use and investment.
Its also true that many apartments bought for investment purpose earlier are available for resale but are not counted in unsold apt.
I have been getting calls from builders to buy sites and apartments with some marketing gimmick. Builders are themselves saying the site has appreciated lot..Its going to be very tough for investors in 2013. We can expect the same situation that happened in US..Very tough in the realty sector. The honeymoon for this sector is over. things can be better only when the RER is in place..Most likely in 2014-15 things should start improving. It highly likey once RER comes in place..the builders may be asked to reimburse the car parking charges that was collected from the people illegally with some penalty. So we have to wait and watch..Lets hope that 2013 brings in good news for everyone in this sector.
Hi Priya,
I have just put my thoughts below and I unerstand your comment is for not buying any appartment in 2013 and not limmted to only PRG.
Well first is we are really not sure that RER would happen in 2013 or not as controling the reality sector will definitely impact the growth plan of India which govt can not afford to loose at this point when they are really struggling to get the projected growth.
I too believe that RER should be in place but I am not sure if that woul really help governing the price.
Not sure if you are aware or not but in Ahmeabad, Guj govt has alreay given a rule that car parking is illegal and that should not be recovered but still builders are collecting that. I see in ahmeabad there is only 55 to 60% is consiered for carpet area while banglore still has 75 to 80%.
In worst case they will increase the per sqft price if they can not collect that money as part of the car parking or carpet area as all builders are here for business. Builer can definitely play with per sqft as long as there are investors in the market an you/me can not stop investors as it is a free market.
So I am not sure if RER will be really helpful to regulate the price as long as Inia is looking for close to ~8% of the growth year over year which is highly dependent on the infrstructer.
Even if we assume that RER would really help regulating this reality market, we are not sure it would really happen in 2013 or not. If someone who is really looking for a house either for investment or buying purpose then they might have to wait for the years as we know how Indian Govt works.
These were just my thought points to make sure people do take their decissions considering all point of views as this would be their once in life decision.
PS: I was on a dream thinkig someone would put regulations on Gold price when it was running 15K but later I realised I have to come to reality.
Please move the RER discussion to http://harshasagar.com/2012/12/18/need-for-regulatory-body-for-real-estate/
Hi Kumar,
I have booked 3 bhk flat through initial bookings..Pls let me know your contact number so that we can be in touch.
Thanks
Shripad
you can contact me on 9243440357.
Regards,
Kumar
I have booked 2 BHK. My plan is to sell this after a year. I do not want to become millionier but getting ~20% return with less risk (considering the brand name of prestige), I would prefer just go ahead and book it. Life is all about risk and you have to choose where to put risk.
I have enquired about this area and it seems price is competative.
Just for the folks, Prestige Cassabella (near electronic city) was prelaunched at 3000Rs and within 10days it appriciated to 4000Rs. I am ok even if I get 1000Rs appriciation within 1 year too.
Kalrav
Cassabella was launched at very affordable rate[3100] .. in todays time anything in this range gets picked up real fast and moveover that was from prestige..
however same logic cant not be applied on PRG.. Prestige is already commanding a good premium on PRG[due to 60% open space and all feel good factor abt North Bangalore].
Appreciation in PRG would be over 2 years time and that would also be something like 1000 to 1300 range. later on you can expect 12-15% rise every year for next 3-4 years. because over next couple of years lot of new projects would come up in range of 3600-4000 in that area.
Does Prestige does an agreement for its pre launch projects before all approvals are received (which takes 6-7 mths) ???
Hi,
We like this property but find it a little strange that it’s not mentioned anywhere on the prestige website (not even in the upcoming projects section).
Google search gives you http://prestigeroyalgardens.investinnest.com/contact-us.php, which is actually maintained by a consultant called investinnest. I called them and they say that they are the channel partner for this property during the pre-launch phase.
How can we verify the authenticity of this partner?
For people who have bought this property, whom did you buy it from?
Thanks!
Garima
Hi Garima,
This is generally the case with all Prestige group pre-launches. Their website will be updated once the project is officially launched, for bookings, you can get in touch with our sponsors who have advertised on this site.
Regards,
Harsha
You can call Prestige directly and get the details. You can get past the broker commissions and get a good deal from Prestige directly.
Hi,
I have booked one apartment in royal gardens on 17th @ the rate of 3800/sft through Invest In Nest as they are registered associates of Prestige.They have provided me a very good service.I had a flight on 17th and I was unable to go for Prestige office for booking.The people from Invest In Nest came to my place and collected the cheque and booking form and I got the confirmation from Prestige about the booking.
So looks like you work for invest in nest 🙂 promoting it by surrogate advertising.
Buyers please join this group:
https://groups.google.com/forum/?hl=en&fromgroups#!forum/prestigeroyalegardens
Regards,
Kumar
3BHK units have only 1 balcony.
A consultant told me its 3kms from Monte Carlo – is that correct information?
yes.
Its just 2.5 kms from monte carlo.
Has anyone booked in this project? Any google group created for it?
I have booked 2.5 Bhk apartment in this project.Please let me know who else have done initial bookings.
Kumar
Hi,
I went to prestige office today for this project 2.5bhk.Now they have increased the price to 3900 sqft.
Also they are offering in back towers.
How safe is to invest in back towers please comment.
Adi
The elevation plan looks very elegant.Considering this location and brand value of Prestige (one of the most trusted in Bangalore) this project is definitely a superb investment .The railway track is almost off not more than 4 -5 trains a day. This project is strategically placed keeping BIAL and city both balanced.BIAL is just 20 Km from this project while bellary road juction is just 6 Kms. On Bellary road you can find RMZ latitude Embassy group Godrej all going at 8500/Sqft. These projects are just 7-8 kms from royal garden. Considering the launch price of 3800 min return of 50% can be easily expected over one year of time.
The builder brand name would make the price appreciate fast. But, the location don’t look to be more promising, we have to see the response from buyers.
Just 6kms from Bellamy road… LOL. it’s is “just” only on google maps
And in reality?
Pre- launch price of 3800 is really attractive .Especially I liked 2.5 BHK the best.We are a group of 12 friends & all of us availed the prelaunch rate of 3800.As per our understanding the project will reach 4700 in 5-6 months.Great investment oppurtunity but avoid the back towers as they are close to railway track hence appreciation will be slow & resale will be a bit tough.Got information from some sources that prices are getting revised to 4090/- from Saturday onwards. Hope it ll give as better appreciation as other prestige projects have given.
I think harsh L may be from prestige marketing department..the world does not change so quickly ..it takes time to grow …
One pattern I see among all the folks who had booked is – they just expect the prices to go up and will feel happy about it. Its natural, nothing wrong.
But yeah it frustrates folks who haven’t booked / waiting to buy at launch or later.
Can we really trust this pre-launch offer ?
I was just going through the posts about Brigade Golden Triangle on Budigere cross and got a concerned about this. It seems people blocked their money somewhere in first quarter of 2012 waiting for the project to launch and it is not yet launched. It may probably be launched in Feb-Mar 2013.
Waiting for almost 1 year and blocking close to 10lakhs for almost an year doesn’t seem to be good. Isn’t it better to wait for official launch of project and then invest. I do agree that it will cost more, but i am atleast assured that it has started and will complete some day.
What are your opinions ?
NM
BGT was not prelaunch, it was only Expression of interest at 3000 psft and they Brigade used it to discover price. It really fooled the investors. Even Harsha had a feeling that Brigade would do justice to the investors by not blocking your money unnecessarily, but it so happened. They are likely to launch it next year and that too at much higher price.
Normally prelaunch by reputed developers is close to launch time (they do start project soon after it and brigade also will) and they make most of booking under this name, the price is now a days more than the actual price and gets sold out. Appreciation is only for the investors who sell it after a year or so by paying 20 to 30%. And most bookings are by these investors.
Hi Harsh,
Do you have to pay anything extra for the floor rise?
Thanks,
Arun
I think Prestige always price the projects attractively and correctly. They are in the business of buildings and not hoarding like other builders. Thats why they quickly sell a complex and then switch to other ….rather than keep hoarding the old once and then keep selling.
I was keen on Ramky Infra One north which is just before Royal Gardens. It was available for 3060 psft one month ago and also had good features such as high carpet ratio of more than 80% and a listed builder. But I hesitated as it was much away from Hebbal and also very close to railway line. Anyway I got another excellent project later for my own use. However looking back now feel that One north was excellent at that price, may be available still at that price, if he has not increased in line with Prestige.
Contacted prestige ..Again huge rush for this project. 2.5 BHK for tower 2 was sold by afternoon.
They have launched another tower 5 with revised rate of 3900.
Regards,
Abhi
Friends,,do not jump into pre-launch booking. Bangalore hasn’t seen the real estate downturn except whitefield. If you would like to live in the house please go ahead and book during the launch else stay away from these pre-launch. Lets us wait for the real estate regulator in place before you decide on booking. Pre-launh is basically collecting our hard earned money from us and buying the land and selling it back to us or invest in other land purchases. Till we have some systems in place in real estate avoid jumping into investment on any projects in bangalore. Let us join/work together for the real estate regulator be implemented. This will totally change the way real estate industry operates..
it seems Kishore is from some rival company, prestige has always delivered what they have promised, i have full faith in the builder, going ahead with 2 bookings.
And you are from ????
Manu..I agree with kishore. let us join and work towards getting real estate regulator for this industry..all the builders are cheating the IT people..since IT people do not have time..they take all the people for ride..
Builders should only sell as per carpet area..not super built up area.
All builders should deliver the project on the promised date..in case of delay..minimum amouunt should be 10,000 rupees /day. Do not jump into booking the flats..all the builders in india are in debt..everyone can see the ads or Zero booking amount scheme for all the projects..so think hundred times before you start booking..
Is payment plan development linked?
I guess for most of the Prestige project its not construction linked. Having said that Prestige also has amongst best track record of completing project in said time.
Railway track adjacent to project is a spoiler…..
Is booking open?
Is it worth to buy expensive flat besides rail track? It seems project almost touches rail track.
1. The track is off track and only 2-3 trains per day.Its not like other railway track crossing prestige shantiniketan.
2.Is 3800 really a expensive deal ? I think price is really competetive.
Let me know if you know any good project with 3800 in that area.
Manas
I think Ramky One North which is adjacent to Prestige Royale Garden is also a property worth considering. The brand name is good, efficiency is close to 80%, and the last time I checked, they were offering flats at 3100/sq.ft and have even started the construction.
Hello Harsha
We are basically interested in investing in north bangalore- hennur road / yelahanka in a budget of max 50 lakhs. We have shortlisted two projects- Mantri Aura and Ramky One north. There is a price difference of about 10 lakhs in the two projects. Can you please help us out- we are basically looking for investment and not for staying there. Which one is better in terms of investment for next 3-5 years and have a chance of yielding better returns..?
Would really apprecite you views on this..
Thanks…
Hello,
I suggest you also see NCC urban. Worth considering. Their 1st phase is completed and 2nd is going on, expected to be done in 1 year. I also saw Ramky One north. Looks good. ramky seems to be a good builder and have projects in hyderabad too.
thanks.
Ramky one north just before Royal Garden was available for 3060 till one month back. Nagarjuna Meadows much before is available for 3900. These projects are at advanced stage with phase 2 towers launched. Prestige price is not very high but is in line with what is being quoted closer to bellary road. For ones own use it is not bad. If somebody is interested in projects close to ORR on north near Manyata, and NOT keen on mega projects, there are some projects from second level builders in pipeline. You have to wait for another couple of months. But it gives pleasure for most of us going to large projects.
There is a railway track behind this property.
Yes I agree, but in that area Railway line can’t be avoided if you wish to stay close to main road. There is another project of Sobha Althea which is also next to the track, was there any impact due to it? May be people who have bought in those area or living already can comment.
Project is interesting. Good for long term. Prestige brand definately pays. However, knowing prestige, You may have to pay around 7.5L (for 1 BHK) within a month of booking which in my opinion is quite a large upfront payment.
Definitely worth it. Just see the Monte Carlo Apts next to NCC
Hello Venkat,
Monte Carlo was launched 7 yrs back with launching price of 1075 sq ft. So how ROI at 3800 for royal garden be compared to Monte Carlo.
Regards,
Abhi
Hi Abhi,
I was planning to buy Monte Carlo at 3900 all inclusive with some scope for negotiation, many apartments still available from builder here. Now you are saying that it was 1075 psft, i.e. around 1300 all inclusive price. It was completed around 2005. Means construction started around 2002 (please correct if I am wrong). So over 9 years, the appreciation works out to 12.9% per annum compounded. Minus income tax of 20%, gain would be around 11% per annum. I am not sure whether I am correct (mathematics is correct, but not sure about 1075 and 2002).
On equity mutual funds, I am getting over a five year term with SIP, a zero tax return of more than 15% with high liquidity.
I would balance well between realty and equity. It was just a brain storming, do not loose yourself, ……now the topic back to realty.
I agree – this looks very reasonable and an excellent investment opportunity. This area has top schools and good infrastructure and greenery …
Hello Harsha,
Pre launch price is 3800. Its adjacent to ramky north , diagonally opposite to BMSIT college.
What is your opinion about price 3800 .Is it worth investing ? NCC has project 2.5 km before this site they are quoting 4000 already. Will this prestige project a good investment option..Please share your views asap.
Regards,
Abhi
hi, got to know from a PRG channel partner that transfer fee is Rs 100 per sft. If thats true then imagine shelling out Rs 1,20,000 for a 1200 sft flat during resale (before registration). Other builders usually extract 4% of (prevailng sft* area) which is still a better devil i suppose
Any inputs ?