Prestige Group is planning to launch a new project called Prestige Lakeside Habitat close to Varthur Lake, Whitefield. The project is a mixed development and will consist of Apartments, Villas along with Office Spaces and Shopping facilities in the lines of Prestige Shantiniketan. Pre-launch bookings are expected to open in 2nd 3rd week of October.
Prestige Lakeside Habitat Options
- Row Houses
- Villas
- Apartments
Prestige Lakeside Habitat Location
Gunjur Village, Varthur – Sarjapur Road. About 3.8 km from Forum Value Mall
Prestige Lakeside Habitat Price
Whereas the exact price details are not yet revealed, expected pricing is in the 4000-5000 per sft range.
Pricing details are now out. As of pre-launch week in October 2013. The project is priced at Rs. 4770/- per sft with a floor rise charge of Rs. 15/-
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Prestige Lakeside Habitat Concerns
- Price has been a major concern with most people expecting it to be priced closer to 4000/- per sft
- Connectivity to Whitefield passes through Varthur village which has a very narrow stretch of about 500 metres which would be a bottleneck in future unless widened
Hi All,
does anybody have updates on the agreement process. Have they already collected the initial 20% from existing buyers or only the booking amount?
Agreement process is not yet started because of approval delay and initial 20% has been collected from most if not all existing buyers.
I have given 20%, but they didnt talk about the agreement.
Also I would like to know which all banks have approved the project.
The agreement process is delayed pending the BBMP/BDA approval. They expect that to happen after the elections. The agreement is likely to be signed in June.
Prestige has collected 20% from existing buyers. If you are a buyer, please join the google group at https://groups.google.com/forum/#!forum/prestige_lakeside_habitat .
Hi Everyone,
Do you think it is worth to buy flat in PLH with price of 4950. It seems too high to me. I checked for some other small projects in that area, though they are too small but price is 3300. I am really confused. Want to buy but dont want to buy a overhyped project.
May be you can consider Vaswani Reserve near ORR.
1. Is there any PLH owners group?
2. Obviously the installments did not start in April as stated in the payment schedule. Also Agreements not yet done. I was told it will start in June. Anyone has latest update on this?
Hi,
the answers to your 2 straight questions.
1.the standard UDS varying from 30-35% of super built up. It depends on builder & type of land also.
2.The answer that builder is giving you is nonsense. If they want to protect the design of project they can put the clause in sale agreement that without the owners association NOC villa canot be demolished and rebuilt. The reason being is that it is a joint venture between Prestige & disney. also Land does belong to third person. It is a joint Development. I had also raised the same query with the builder when I was about to decisde on PLH, but I stepped out. When I invest on 3cr property, the minilmum I expect to be privacy and independent living.
There are multy projects in Bnagalore like empyrean, RBD stillwaters, Zonasha paradiso,Chaitanya, JR Urbania, adarsh palm retreat, xplore & do your research before buying anything. After long search in the location of south & east bangalore I booked in RBD Stillwaters because of location connecting well to four differtrent parts of bangalore, E-city-7.5 KM, Koramnagal-8KM, ORR-4.5 KM, Marathahalli-8.5km,Sarjapur wipro-6km, whitefield -12km. all reputed schools like NPS, Cambridge, Vibgyor, Lawrence school.
I would suggest you go & invest in the villa where you get land also registered.like RBD stillwaters.
If you want more details mail @ .
see the location map@
http://www.commonfloor.com/how-to-reach-rbd-stillwaters-bangalore-direction-location/prdl-wj69zh
wish you a happy home search
Santosh S
Hello,
I am seriously considering buying a villa in PLH. Can anyone share insights on the following two points ?
1. PLH Sales people are not yet clear on the ‘undivided share of land (UDS)’ for a villa. As per their knowledge so far, they think that UDS for a villa is only around 25% of the total built-up area. That is very surprising to me atleast, as the plot area for a small villa is ~2700 sq ft, and UDS comes out to be only ~780 sq ft.
Do you think this is reasonable ? How much of a factor this should be in buying a villa ?
2. Also, they are saying that the plot area cannot be registered on the owners name as they want to protect the design of the entire project. They say that if Villa owners are allowed to register the land on their name, they can do anything with the land. Meaning they can demolish their villa at some time, and build a high-rise tower or grocery store etc.
Do you know if it is a standard practice on not allowing villa owners register land on their names ?
Insights on the above two would be very helpful for me in making a decision. I am convinced about all other aspects of buying a villa in PLH.
Regards,
Chandra Sekhar.
Chandra sekhar,
I am in the same boat.
I think it is ok for villas to be registered based on UDS (it seems that is how it seems it is done in most cases these days). However, I think the exact UDS for a 3130 sqft villa is important to get clarified from Prestige. I doubt the information you got is true – I can’t imagine that the UDS will be as low as 780 sqft.. I expect that it would be much much higher than that. Probably the info you got might be applicable to the apartments.
Mani,
Thanks for the insight. Yes, I am also comfortable to be registered based on UDS. My main concern is about the % of UDS, this is what I was told when I went to book a villa. When I was walking out, they told me that they will confirm this with their head office and get back soon on this. I am waiting to hear back from them, will keep posted.
Regards
Chandra/Mani,
Can you share with me() the information on UDS if you got that info for villas.
I did not get an answer from Prestige on UDS. The only answer I got is that they have not yet decided!
Just got the confirmation from Prestige on UDS. UDS for a villa will be same as the demarcated plot area. Now, I think it should be fine as they are giving 100% of plot area as UDS.
However, they are not allowing the owners to register the plot area on their name. I think this should not be a concern as they are giving 100% UDS.
Planning on go ahead and book my villa there.
Mani/Santosh – Appreciate your comments and insights.
Best,
Chandra Sekhar,
I think it is ok but not great. I was expecting that at the minimum, the UDS will be same as demarcated plot area – and for villas which have additional plot area on the side, that would be added to the UDS (did you confirm this with Prestige?)
The reason I feel it is not great is because in other villa projects, I guess that the UDS would actually be even larger than the demarcated plot area on which the villa is constructed – because the UDS would include atleast some part of the “common area” of the gated community’s total acreage.
I wonder how much UDS a row-house/villa owner in Prestige Ozone or a villa owner in Palm Meadows gets? I think it should be larger than the demarcated plot area. Does anyone have comparable data point on this – any of the other villa projects (Chaitanya/Palm retreat) is fine for comparison.
Dear Chandrasekhar ,
Did you go ahead and booked the villa ? I am considering this also. Are there possibilities of negotiation on the quoted price ?
Sukhvin,
Yes, booked my Villa there. No discount, however, there is a way to get 1% back, call me 8861507788, will explain.
I don’t understand why people buy houses worth crores of rupees and beg for undivided share from the builders. Instead go buy a plot & register the land and get 100% share and be the absolute owner of the property, rather being a slave of the builder/resident association where every time you want take permission even when you want to paint your own house. Yes UDS in apartments are inevitable.
And these premium builders like prestige,sobha etc..etc.. think they own you when you buy properties from them. You have to be on their terms even after spending crores. My friend, Give it a break, Instead buy a beautiful 10 acres farm house and live your life.
Larsen and Toubro wins housing contracts worth Rs.1,981 crore
http://www.livemint.com/Companies/vY…981-crore.html
San
if one knows total area (in million sq ft for this complex), that will give approx. per sw ft that gets paid to L&T. 1981 crore / Y million sq ft , Y?
Should be in one of their public domain presentation as that Prestige is listed now.
Well.. in that case, I might give it a thought for this project if price ‘revised’ downwards to ~Rs4200/- psqft with no change in other charges!
Jokes apart, did anyone check what is the latest price at PLH?
Received an email today. Price has been revised to $4950 per sqft. Probably NRI money fuelling this price hike.
Nothing like that…in my office here in bangalore many folks have booked in this project. They are settled in bangalore….of course most of them are double income family….annual income must be 20 – 30 lacs.
Don’t think its only NRI money. I know personally many who have booked 3BHK and Villa in this project. One of the buyer recently told me that some big contractor like L&T is being considered to bring the whole township in one shot.
If that happens, it would be wonderful unlike other phased projects where you get the handover of your unit in 4 years but then the construction on site keeps on going for another 3 years for phases launches later. Also, L&T being there the quality and execution can be assured. They are the best!!
Sri
>> wonderful in 4 years
i agree but for those who work from home or are retired because roads outside are pretty bad
>> big contractor like L&T is being considered
good business model. Make a project on paper, do a deal with landlord, get some approvals and sell the project. Next, look for contractor etc.!
May be some people on this (and other similar) sites can get together and make a complex on their own. One could get at significantly lower rate + even make profits by selling remaining units to others later on. need for enterpreneurship
Yes mkt you are absolutely right. All builders are doing that. Except Sobha no other builders builds on its own. Mantri, Brigade, Prestige and everyone else actually comes in a deal with landowner and then sub let the construction activity to some other contractor.
But it doesn’t mean that the quality n all is compromised. These builders are A class builders and are surely bothered about their reputation hence they keep a check on quality. I own a Mantri flat and they are excellent in quality checks and making sure what is being promised is what is delivered with good quality.
Overall, this is business model every one if following. Small and big time builders all of them.
But when you compare now between these, only very few give contracts likes of L&T and shapoorji&pallonji. Reason is these contractors are know for thier quality and timely delivery hence they obviously charge extra which cuts the margin of the builder. Obviously one argument here is that Prestige or for that matter any builder are already charging so high so their margin are safeguarded.
Yes, thats somewhat true as well but then in our chaotic Indian Real Estate there are so many who charge Premium prices and then give a below par product.
In that sense, i find Prestige better. They never promised L&T or anybody else during launch. Their prices were surely high and they charged a premium.
But then in the end the end product matters. I find it value for money personally. Many may not and that their point of view. After all its their hard earned money 🙂
agree on the quality part by likes of L&T, …..+ there may not be many builders in bangalore that can handle such huge complexes + 30 storey tall buildings within a short timeframe
>> need for enterpreneurship
by this, one could use hard earned money for better use such as 1) a gated layout, 2) making villas
Apart from managing the land owners and contract ors, you have manage the corrupt system And authorities. That’s The reason companies such as L&T restricted themselves to construction.
I was informed through email that the price will be revised from 1st April? anyone has any info about it?
Hi, is there a group of villa buyers separately? Did anyone got any kind of discount in villa price. I’m interested in going ahead with a 4BHK but not really sure if the price is justified with the current location. Compared to other villa projects at least this project is on a State Highway and not in some narrow lane like many other projects across Bangalore.
But having said that, the biggest concern is the Mandi which came in between. Will a flyover come there or will be be broadened? Does anyone have any credible source of info there. If that bottleneck is solve i think then it will make perfect sense to go for this project.
As per Prestige you can take Panathur road to reach ORR but i’m not very convinced how that road will be 5 yrs from road and how congested since its already just 2 lane road.
Its a risk but can pay well if the surrounding area develops and that Mandi issue is solved either by flyover or road widening.
Any insights?
-Avinash
This has been discussed many times in this thread. Any answer would be a speculative and hence you need to judge on your won.
Flyover or road widening in that narrow stretch of road with shops on both sides is something we can dream about but unlikely to happen.. Even projects listed in the govt plan get delayed by years/decades.. most likely scenario 5 years from now is horrible traffic during peak hours to get through that stretch (it is already quite bad) but i guess people will live with it and suffer through it as is the case always
Avinash, what price is prestige quoting now? Any change in the last 2 months?
No Mani i don’t think so there will be change in price. The reason someone very well mentioned below as the pricing of this project is very different from other projects where builders launch it in phases and give a sense of increase in price. Prestige already have 4 prices available for 3130 sq.ft. villa. Now one can see it as price increase or whatever but what they have basically done is the worst units were prices at lowest price of 7650 (which anyway is not available now)
Second price is 7800 which again is either very bad unit in terms of facing, vastu etc. which again is not available because on further asking i found there were 10-12 units in that price and if you are looking for end use am sure you would not take those as they were not the best in the lot.
So current price is 8150 where you can think of booking if you want it for end use. So not sure if should i call it increase in price or what since these same units at 8150 were available at the time of launch too.
Overall, i feel Prestige has already opened the full project and full lot with 4 different prices and let the user select what he wants. Price increase and real price increase will only happen once it completes one year of locking period and few units from investors come into market. As Prestige will not raise prices on its own for quite sometime since the inventory is huge and it will surely take them sometime to sell.
Also, i’m not sure if its fabricated but the choice of units i could get it seems like most good units in villa have already been booked like corner, good facing, vastu compliant ones etc.
So wondering if really they have sold 160-170 villas till now. Wonder in the current RE market they still are able to do so or is that fabricated. If it was fabricated as i have seen with few other builders on further pressing they do open up some units -that mostly when they had multiple phases etc. but here i tried to press but the choices of villa didn’t change.
-Avinash
Some random stuff..!
When Prestige started marketing this project location was Gunjur rightly mentioned so!
Now having received a with lame response (price is still a@ 4860) after 6 months, they started off-late another marketing campaign with location ‘Moved’ to Varthur/Sarjapur/Whitefiled.. aila ! Kuch bhi haan?:-)
As now it universal, Prestige had misunderstood demand supply dynamics for PLH. Builders have flexibility to play with pricing(quoting high price) when units in projects are ~300-500(like sell 50 in pre-launch, another 100 in launch and remaining ~250 throughout (ex land owner share)).
But Prestige went wrong with launching PLH at a very high price when units are in excess of 3300. The high prices have always scared and kept end users away; now its loosing ‘darling’ status of investors too as excess supply would always dampen re-salability at high ROI.
Interestingly investor have or will switch to other new pre-launches.
With no metro plans in Phase-II(which otherwise could have trigged price speculation) for Gunjur/PLH, hoping on Peripheral Ring Road is last thing one could do as it would end-up just like another boaring NICE road!
I am not trolling here for having regretted I could not buy at 4770 that now the price have gone soo high to 4860. Damn it..! 🙂
@Swati(from prestige), your comments are welcome!
Note: Existing buyers, no offense please!
>> with launching at a very high price
Strategy I: sell at low cost and sell fast
Strategy II: sell at high cost and sell slowly
Many have adopted Strategy II. Eventual RoI may still be same or even higher for business folks.
PLH pricing strategy have been very different from other projects and even other Prestige launches. General trend if to launch such huge townships in phases.
This was a very good candidate to be launched in 2-3 phases. With each phase coming in market after 6-10 months after previous phase.
It has its own riders. With every new phase Prestige could have raised the prices by few 100 rs per sq.ft. and give an false happiness to existing investors of their property getting appreciated.
Also, as with all other builders each phase would have its own handover commitment. Say phase-1 to be delivered by 2017 phase-2 by 2018 and so on and so forth.
It has its pros and cons. Pros is investors get false pride and sense of safety that they booked at early launched prices and now it has appreciated.
Con is the township construction will be ongoing for 8-10 years and even though Prestige would hand over say (optimistically) phase-1 by 2017 you would still have ongoing construction in the township for next 2-3 years. It would not be livable fully.
With this new approach everything is available on the block for sale and have different prices. Good part is the whole township will be built together and not in phases and so will the handover.
Yes as sachin mentioned below it may take 10 years. Who knows. Let’s see if Prestige learnt its lessons from past. But from an end use perspective i would prefer the whole township coming in together instead of phases.
Hi – Is anyone aware if the PLH team has started with Booking agrrement process?
Nope. They are yet to get approval from BBPM. Due to elections scheduled in May, the approval may be delayed till Aug 14. Post the approval, the agreement process starts.
Got the brochure of PLH today through courier. It weigh 4 kgs. When Prestige guys told me during pre booking that they have ordered the brochure and its getting made by a company in Singapore and have costed 5K i thought he was just bluffing. Now i see why it costed 5K. Its a like marriage album 🙂
Yes people critical of PLH and Prestige as whole i already know the responses…its a waste of our own money..correct. i do feel the same somewhere. But in today’s show world i think these things does count a little. Anyway hope they are not only spending all their energy and our money on brochure only and more so on development of the township.
Maybe my opinion will be biased since i have bought in this project but with my experience across Bangalore across many properties and builders this by far is the best brochure i have ever seen.
Does that show the intent of builder to raise the standard both in marketing and build quality that time will tell but for now in the initial stage Prestige has done a tremendous job. Sending a USB filled with all details of the project along with that heavy brochure was a good idea though it hardly would have costed them 100-150 bucks but its good.
Hope Prestige builds it as grand as they have made the brochure. If promises are kept it will be a landmark in itself in Bangalore. I know i’m biased but who isn’t who have bought a property in any project. No one buys or enter into a project thinking its not good or doesn’t have potential 🙂
>> weigh 4 kgs
not good for environment
@Vipul : 10 years later when the project is still not complete and there are few cases of tower collapses and legal issues, the brochure will remind you of what could have been ! Hopefully brochure will last until the possession !
Dear Sir (sachin_federer),
Just an observation after reading through this:
You have been quite negative (in language and content) in almost all your postings and comments… Please have a look yourself.
Opinions are good (and free). But consistent negativity… just an observation.
@natan : your powers of observation are truly exemplary ! Wish there was a Nobel prize for observation 🙂
does anyone know the undivided share of land for 3130 sqft villa? or for a 1655 sqft 3bhk?
Can you ask this in the PLH buyer’s group here – https://groups.google.com/forum/#!forum/prestige_lakeside_habitat
I am not yet a buyer in PLH – still considering.. Not sure if I can still join the group.
One of my concerns is that 105 acres divided between ~3500 apts and 271 villas might give very less undivided share of land, particularly for villa buyers (compared to other villa projects which are 20~30 acres accommodating a couple of hundred villas). Any comments from folks who have already purchased in PLH? I haven’t got an answer from Prestige on this so far.
What is the status of approvals for this project. Anyone has any idea. Is this approved by leading banks?
Considering a 2BHK here, all looks good but little confused on the floor plans. I heard that other big builders like Sobha and Mantri also have land banks here and will launch in couple of years.
If that is true (not sure though) this area will have good potential and will get a push to be better connected than is it today.
– Mudit
please read this discussion as well – http://www.indianrealestateforum.com/real-estate-pune/t-builders-real-estate-bulls-theory-proved-wrong-5139-page898.html
Good read Priya. Thanks for sharing. We (in Bangalore) are also heading in the same direction and we may actually end up in worse situation.
Hi,
Today I visited Mantri Webcity Project on Hennur Main Road and found the project is more impressive and cheaper then Divyasree ROW or Prestige LakeSide Habitat in terms of Future Development, prices and Appreciation. Surrounding to this Project all big other builders projects are coming like Salarpuria Gold Summit, Aspire, Bhartiya City , Purvankara Palm Beeach, Nitesh , Goyal Orchid. Hennur Main Road is developing in all aspects as all the big builders projects are coming there. Prices are also very much in check if I consider the brand name of Mantri . For 2BHK of 965 sqft they are quoting all inclusive 55-56 lks (Floor rices extra 30rs) and for 2 bhk of 1005 its around 62 lks (floor prices extra). Their Carpet area is 78% which is biggest by any tier A builder. So Carpet area is more than 2bhk of Divyasree (1047 sqft) pr PLH (1100 sqft)
Many International Schools , Colleges and Hospitals are surrounding this projects. Manyata is 5 kms. and Upcoming Nagavara Metro Station is near by. Roads are also very wide. I want to clear one more thing that I am not any sales guy of Mantri. I just wanted to tell as I liked the project which ivs ery much under my budget with all the best ameneties and future prospect of the area. I checked the Upcoming IT Parkes as well many of them are coming on on Airport road or Thanisnadra road which is adjacent road to Hennur Road. Proposed Peripheral Ring Road is 900 Meters from here. MG Road is 12 Kms from here with Bangalore East Railway station around 10 Kms. Bangalore Fast Rail Link which will connect Airport to city is also on the future list of Hennur Road. Tomorrow I am plannig to go book a 2BHK as I am convinced overall with Area, Builder, Carpet Area and other prospects.
@BR : If you dont work for Mantri why are you posting the same message on PLH, RoW and other threads. There are hundreds of people who found PLH and RoW better than Mantri Web City. I dont see doing them the same thing. Or is it that you Mantri guys are struggling to sell those cloud connected trash?
First of all as I have already cleared that I am not any sales agent and by no means connect ed to mantri. I posted the same thread in all of these just because to bring awareness to people so that they can think of other project which they can afford without compromising much with size and better developing area. People are just going to plh or divyasree since they had the info about it. And ppl for hennur road does not plan to think of it..and I or nobody buys any proprty just for ameneties.i never mentioned about any amenity .but rather for good area and potential for appreciation. This project is already approved by sbi.. I checked on sbi website which is not the case with plh or divyasree. And moreover I have all the right to expresd my views about any project independently. I have checked all the three projects and found it more suitable.. infact I already had a thread for divyasree where I mentioned they increased thr price within a day without by 3 lakhs any prior intimation . You can google upcoming it parks.first of all ppl are not fool enough thst ppl will buy any project as someone else is appreciating.. I just wanted to convey that we have another option where ppl can go and decide which one to go for out of three.. and builder like mantri is not dependent on in particular me or you to increase their sale.. I am giving all this explaination you blamed me directly that I am from mantri atherwise I dont need to encourage to go and buy from mantri. As neither you or I are the who can decide where the ppl should buy as p are ontelligent enough to take their decisions own
@sachin_federer. As you mentioned there are hundreds of people who have preferred PLH or ROW over Mantri webicity , could you please provide me the list of those as i checked all three threads and found this is the first post only where somebody is comparing all three projects.
I think many of the people have not even went to Hennur seemingly a far ,distant and deserted area who are in particular living in Bangalore east i.e. Marathalli or Whitefield. I also had same feeling until i went their. I found area is much more developed than Marathallli or whitefiled where residential development is very much unsystematic as all development is happening in surroundings of village where roads are very narrow which is not the case with Hennur. Hennur is new area so all new development is coming. Builders like Brigade, Mantri, Salarpuria, Sobha,Purvanakara, Nitesh, Goyal are coming there for the same reason.
Secondly Bangalore City i.e. MG Road, Majestic, Yeshwantpur, Rajaji Nagar are more near than from Marathalli, whitefield.
And to reach ITPL it will take lesser time than from Marathalli though distance is more since traffice congestion on Kundanhalli , Karthik Nagar is pathetic.
One more point that you may a good critic of the projects but it doesnt mean you can directly accuse me that I am agent of Mantri when you dont know me personally.
@BR : Totally nonsensical comparison (between PLH, RoW and WebCity) – as good as comparing apples to oranges. Why would someone whose office is in Whitelfield and kid(s) go to any of the nearby schools consider Hennur road? And for almost the same rate (yes few lakhs less i know), whitefiled/ORR is surely a better location than Hennur road/Thanisandra Road. And when you post about one particular project on various other thread, you do come across as a broker/agent of Mantri. If you liked Mantri web city so well, by all means go ahead and book (which you have done i think). And its foolish to think that people havent even heard of Mantri Web City and the entire community is dependent on you to enlighten them. Thanks but no thanks.
@sachin_federer :
I also work in Whitefield, but according to you if somebody who is working in whitefield but invested in areas like Indiranagar, JP Nagar,Jaynagar made a non-sense decision. Hennur Road has all the potential to grow similarly. The points i mentioned about Hennur Road in previous threads were all based on facts most from Karnatka Goverrments websites.As far as schools are concerned if you and your hundreds of virtual followers had personally visited Hennur Main Road then you would have not asked questions about these as you asked in Mantri Webcity thread since there are numerous of them. And moreover i never said people should go for Mantri only. As i have mentioned, there are lot many big builders projects on Hennur main road. Now dont blame me that i have become ‘Agent of Hennur Main road’!
For people like me who are looking for first Investment with better residential society with more carpet area and priced lesser around 7 lakhs from divyasree and 9 from PLH and 2 plus years of Early possession which again saves more than 3-4 lakhs of rent is not similar.Maybe for ppl like you 5-10 lakhs are penny.As far as ORR is concerned, I had a doubt you had not visited Hennur Road any time before and just commenting on it after searching in google map(that also should have been searched properly). Hennur Cross is a signal bwhich is on Outer Ring Road and Mantri Webcity is around 5 kms from ORR. ut you are suggesting Village like Varthur which is atleast
15 kms from ORR.As far as your assumption that Iam an agent of Mantri, so according to you if somebody is saying good thing about Taj Mahal he becomes agent of it. First of all I was never emphasising on Mantri ,but rather was more telling about Hennur Main Road plus points.But people like you who just sit on internet and not go personally these places give their verdict.As you told people are not dependent on me to get enlightend, similarly they are neither dependent on your verdicit without going personally. Its all their choice. At least I visited all three places personally and amongst the first who wentto PLH before pre-launch to talk to manager but
got struck in traffic and narrow roads of Varthur Village so withdrew my decision to go for it where I need to wait for 5 years to stay in congested road among village. Divyasree first of all I found very compact and they are increasing prices everyday like anything which i found is not really worth where we need to pay so much and compromise. I am quite sure people who have visited all three places at least would realize which has broader roads , more projects and better future. And also all the actual Real State Experwho comes ts on channels like CNBC suggest to invest either in Sarjapur or Thanisandra/Hennur/Hebbal Road (Bangalore North). At the end I never asked and required your thanks.Keep your thanks with you as of now and will check after 5 years whom people would be thankful to for giving wise and practical opinions.
How is the water & electricity situation in North Bangalore? Many people have been commenting that the water sitiation in North Bangalore is very poor…is that true? How is the experience of people staying in these areas?
@Bikram,
Water is a problem in almost entire Bangalore. Currently I am living in Bangalore East and in my area also situation is no better , most of the places no cauvery connection and bores are dried till 1000 feets. Major Source is water tanker. I asked Mantri Wbicity about water and they told me that they have applied for the Cauvery and water connection is already there on Hennur Road till certain kms and expceted to reach till webcity in next 1-2 years meanwhile they have borewells . I checked BWSSB website and found that water supply is available in hennur road . Please check link
http://bwssb.org/pdf/BWSSB_Citizen_Charter_English.pdf
Did you guys check out 2 full pages ads of PLH in ToI and its property supplement today? Do you not hear PLH being advertised on FM every other hour. Dont you see big big hoardings of PLH everywhere in the city? What does it all tell you? To me it tells me that these guys are having tough time selling the project at this price. An average 3 BHK in a location which is about 15+ KM away from city center with poor connectivity is offered at 1 CR+. If I spend 1 CR+, I would want it to feel worth every penny and not hope that the area will improve and may be i will feel it was worth. of course you guys can differ. Thats just my personal view. Cheers.
not really Sachin..see the size of the project also… no one including prestige am sure is in any doubt that it will take big enough time to sell this project… basically any normal avg. size project has 350-500 units this has in total 3500 which makes it equivalent to approx 8-10 times of inventory in market suddenly… villas are separate…selling 8-10 project inventory generally takes around 1.5-2 years for any builder… this is my impression.
may you are right… who knows the real stats… but why are you so against the project…since so long investing your time on so many comments…either you really care for public and don’t want them to lose their money or you have enuf free time unless of course you are genuinely interested in the project and just figuring out all the pros and cons before taking a decision.
also… i believe the marketing push and budget will also depend on the size of the project again..for a total project budget of 5000 Cr. as this one if we take even 1% as marketing expense…they can afford to spend 50 Cr. to spend on publicity and marketing..and hence the billboard, and radio announcements and full page ads in papers…
again maybe am wrong and maybe u have a point these were just my thoughts the reason behind the questions raise by you
Sri
I am seriously looking for an apartment for end use for the past 6 months. IMO, the price is stabilizing. There is no increase in the prize for the past 4 to 6 months (or may be <= 5%). Looking at the state of the economy, I think this stagnation will continue for next 6-12 months or at least till the LS election results. Having said that, I dont think the builders can reduce the price of pre-launches beyond an extent – the inflation is high, they need to consider the labour and raw material cost for next 3-5 years when deciding the pricing. With inflation still high, I dont think builders will be in a position to decrease the price of pre-launches beyond 5 to 8%.
>> Did you guys check out 2 full pages ads of PLH in ToI and its property supplement today
Many builders giving big ads now-a-days.
Lower demand, excess supply or the (high) cost at which units are being sold is automatically making it a slow process. My opinions only!
@srinath : I think i wasnt explicit enough. PLH was just a case in point. The whole of real estate industry spends a good deal of amount on ToI ( i am not aware of other dailies), so much so that it looks like Times of Real Estate with some news thrown in between. Especially check out the paper from Thursday to Sunday. At least 5-6 full pages of ads. Can you find out any other industry (B2C and not B2B of course) that advertises so heavily? As “cost” has mentioned below, common sense (of course not common in people) will tell you that there is a huge supply and not so much demand. Every builder is chasing the same set of people and want to grab eyeballs. Point that i have been making time and again, huge oversupply, large unsold inventory but builders are trying hard to keep prices high. I am not an “investor”, i am looking for own use. At the same time, I am not going to get sucked into the hype.
I agree Sachin… even i wonder seeing he no of ads specially on Friday and Saturday as if the only weekend plan Bangaloreans have is to shop for properties 🙂
But after living a decade here i understood no matter how much type u burn in searching properties..you will not get one for cheap be it ready for move in or pre launch.
I really wonder when you are going to buy u don’t get one of your choice and location at your preferred price…and when you are going to sell you don’t get a buyer at your preferred price 🙂
what is this nexus..??
Overall, i tried my hands at all options..getting a BDA site in a livable area not on far off Mysore road..ready to move in..small builder medium builder large builder…there is no end to it..and i never see prices coming down..what i have surely seen in last few months or maybe an year is price stabilizing a little…means.. prices are not going over the sky overnight…that is the only relief..
if someone is out there in market constantly for an year he would understand what i’m saying..
so we are actually already in middle of a RE slowdown…so i find it the best time to negotiate and buy if you are looking for end use… there is never a good time actually…like its said in stock market..
you cannot time the market..so better take it now as prices are kind of stabilized and builders are under pressure due to excess inventory… if you expect you will get the same house of 20-25% less 6-10 months down the line…i doubt… nothing is getting cheaper..specially labour…
in this global economy we end up comparing the US sub prime crisis and people keep saying India is on verge of it…oh come on…this is not an apple to apple comparison…
does US have same population as India..does US have same growth rate as India..Does India has same spare land like US..Does US has same amount of black money like India..
There are so many factors which affect Indian market…I do agree income is not growing at the same pace as these properties are growing….but its not only the salaried class who are buying it….people with black money runs it like stock market…they send their money out of the country…establish a dummy company in some country…buy properties here and inflate the market and the sell at decent gains…who is the sufferer like in every other aspect of life be it vegetables to transport to anything..its the middle class… is there a way out of this loop…not in coming decade…
Go ahead and buy something you think you can afford in long term…take the risk..and keep a backup plan ready… rest leave to the god…not all things in our control 🙂
Regards
Sri
People buying flat or villa in this prestige project must be beware of certain hidden facts. There are CDP roads going in to the property and some parcels of land still owned by private people & govt. The staff at the site office are silent about how these roads are going to be used and how the land still owned by private people and govt will be acquired. Further the disney theme is a bogus thing as the staff aren’t able to explain how disney theme will be implemented. People expecting US Disney world structures within this project will be highly disappointed. Keeping some disney cartoon figures can’t make the whole project like Disney world. The project is highly priced Rs5000 per sft for the place like Gunjur where land cost is low. It isn’t worth to give such a high price for the Gunjur location. Moreover the most important fact is that residents of one quadrant are not allowed to use the facilities in the other quadrant as the whole project is divided by roads into four quadrants.
The access road from Varthur lake and Varthur market area is so narrow and it may not be widened as private people have already acquired parcels of land on the other side of the lake where expansion of road is feasible. The promoters are going crazy by increasing the price from Rs4770 to Rs4890 – Rs120 increase just within a week. Further the promoters are playing tricks with customers saying that flats upto 20 floors have already been booked. Due to floor rise cost, today the flat price is Rs5250 per sft. Promoters are also silent about the final registration, BWSSB, and other costs. By the time the project comes up in four years, it will be be dud project like Shantiniketan. Please look at the current market price of flats in Shantiniketan. Hence people looking for quick appreciation within this four years will be highly disappointed to see that their project actually decreased in value and their purchase price itself is too high
All residents will have access to all the clubhouses. There will be underpasses to connect all 4 quadrants.
Private builders making underpass under the govt roads. Have you seen any such thing anywhere in India? Did the sales team make you fool or you are trying to make others fool?
Vinay sorry to say but if you have not seen Tajmahal it does not mean it does not exist. Underpass roads are very common in big project. I have seen in L&T serene county in hyderabad. They have underspasses below 150 feet wide expressway to Airport!!! So PLH will also have the similar underpass.
Good one mate 🙂
What are the current prices for Prestige Shantiniketan? Is it worth investing there?
I guess the comments about non access to different quadrants have been made by someone who doesnt know anything about the project forget owning one.
The project sales price per sft was 4860 as late as yesterday too when i went to see the model apartment. so where is the question of the builder increasing the rate 120 Rs in a week’s time?
The project does have for quadrants but it is baseless to say that these are four different ones as they all belong to the same Prestige lakeside Habitat Community. Going by what the comments are , then the same would have been marketed as different projects?? quite stupid.
I am sure none of us would have bought the apartment/villas in the project has taken it ONLY for the Disney name? All of us know very well that there are no Disney world theme parks in the project,and neither the builder claims to have it. The project is associated with Disney on branding and that that’s it. Essentially all of us are going to be benefitted by a branded apartment than a plain vanilla one.
One of the concerns from Bangalorean was there in my mind too as when i was looking at options to buy my apartment, the sales team told that everything was sold off in the lower floors. which I had a doubt. on rechecking, the sales representative showed me the names and details of the customers who have already booked and that does seem genuine but I cant vouch for that.
Also, a person who calls Shantiniketan a dud project doesnt deserve a reply.
Rgds
PSN (Prestige Shantiniketan) is a good project. But do you guys know how many years it took for Prestige to build that. Some of my friends who stay there have told me it took about 7-8 years. it was officially launched in 2005. and there was almost 2 years of soft launch/pre launch (same with PLH, it has been in soft launch/pre launch for some time now). Also there was an incident of a tower collapse (tower C, just google). My point is, I have seen some geniuses here who have already calculated their profit when they will sell their Disney themed apartment in 2018. Anybody who has booked, can you tell me when is the possession date ( i am sure there wont be any date). They must have mentioned something like 4-5 years from construction. So does anybody know when is construction starting ( i mean is there a date)? I can stick my neck out and tell you all, you are not going to get possession before 2020 ! Builders who are building 250 odd apartments “promise” possession in 3 years (and conveniently delay by 1-2 years or more). With almost 3500+ units, you wont get it in 4-5 years. Use your own brains (keep the stupid emotions aside).
Shantiniketan did got delayed but from what I understand Prestige had sold their apartments in a week’s time and there were a lot of customers who were late for booking including me who never got a chance to buy at the pre launch phase. For the same reasons I had decided to book it in PLH now. As for the comments of PLS being in pre launch for “sometime”, the pre launch started in October last year and as of now the commitments hold good in terms of their launch dates. From the clarification from builder, the construction is scheduled to start in April this year. Going by your words, I dont t think Prestige is in the league of small time builders who delay the projects beyond excusable time of course with an exception of Shantiniketan.
I believe in Prestige and I am willing to excuse the builder for a folly they committed long back while other builders keep doing the mistakes again and again.
I too have burnt my fingers in other projects by other builders and have currently settled for a smaller community by a Tier 3 builder. The same is the reason that makes PLH attractive for me ( of a better brand and a much better community with all the amenities at an affordable cost).
Most of the negative comments here have been made by people who only have a hear say about the project and not with a clear picture of it.
It is all bout the choice of buying a cheap quality Chinese item Vs a better branded product at an additional cost. At least you will have the peace of mind ( it too might fail) and not with a surety of failure.
The committed time by the way is 4 years of construction and 6 months of grace period and not just a vague 4-5 years>
Also I understand there are penalty clauses although it might not amount to much and also the builder has lot of excuses for not paying it, which hold good for all builders including fly by night ones.
there are still 2 complete unsold tower in PSN…who says you are late. Its land owners share and they are struggling to sell it. price wise definately late.
@Priya : Do you stay in PSN? How do you know? I am not doubting your statement, just wants to know the source. I have checked out magicbricks, 99acres etc. At least 10-15 brokers selling PSN apartments on these site and everyone claims to have 5-6 units with them. Of course there may be some overlap. One more thing i noticed is that all these flats that are up for sale in PSN, all are asking for some portion of sale in black (i.e. cash). I have been shouting out loud for some time that the Bangalore real estate is in shit but people just laugh. If PSN isnt sold, i doubt what hope other projects have because when PSN was launched it was affordable to upper middle class segment. Not sure if all these new launches are still affordable to upper middle class.
yes, I do stay in PSN on rent. This April will complete 4 years, changed 3 houses and every house has same quality issues. I am not saying PSN is not a good project otherwise would have not continues there for long. Community is great, location is best,My office is also in PSN.
Comment is on quality only not on overall project. Because it frustrates me, every month we have some of other issues, like leakage, wooden floor, fitting etc….As you know prestige do not do construction they just outsource to contractors/sub contractor
to answer your question – If you are buying for self use and if u can live with quality issues in ur flat. Community is one of the best, I have ever stayed( except arrogance in owners/POSWA) PSN is best buy in Bangalore. For invest point of view its BIG NO.
Thanks Priya. Appreciate your responses. I am looking for my own use. I dont at all believe in taking a loan at 11-12% and purchasing a property for 1.2-1.3 Cr and then expect to make profit on that. I think we are already past that stage when the end user would have made money in property/real estate. Unlike lot of people who feel that property is still a high risk high return game, i firmly believe that its a high risk and no return (minuscule return) game and knowing that I am not even going that route. I see a lot of flats up for sale at PSN. Any idea how much can one negotiate. 3 BHKs are being quoted around 1.2 Cr + Reg and 3.5 BHKs are quoted around 1.4-1.6 Cr range (plus reg). I feel even these prices are high.
I agree with Priya totally on the quality of PSN. I have stayed there for 2 years and its very sub standard. But not to defend but in case you are staying there and ever thought of buying an apartment there as well you would know the story of PSN for sure. PSN was the biggest project of its time and biggest for Prestige as well. They did some major mistakes here where they gave the construction contract to only one contractor also they launched it at a price and then certain rules and regulations came by govt. which required further NOCs to be obtained which delayed the initial construction of project by almost a year and half.
Overall, since the project went on for almost 7-8 years the price at which it was launched became so outdated w.r.t construction cost that they ended up cutting corners here and there.
This even Prestige accepts. Good thing was they never went back to customer and asked to pay anything extra. They could have and maybe not compromised on quality then but then we all would be again blasting them today that Prestige is not reliable and charges extra midway.
I’m not saying it cannot happen again, it can and there is a risk in PLH also but i hope a smart group like Prestige who are kind of No.1 in Bangalore would have learnt the lesson and not repeat the same mistake again. They are not some run away builder. Its a Public Ltd. Company and any company with some sense would like to play it for long instead of cutting the goose in one day.
In PLH they are saying the contract would be given to 5-6 different contractors for each land parcel to make sure the whole township comes at same time.
I hope some sense will prevail and Prestige will take a decision sanely since their goodwill is also at stake. Its their biggest project launch till date and am sure they would not like to screw it up on their own.
I think risk is there in walking on the road also 🙂 so lets see if you are ready to play in hands of builders…better play in hands of someone who can be trusted a little and have brand value.
Also last point, though PSN quality is bad have you ever seen the quality of their other projects like Acropolis or Ozone villas.. i find them decent.. So lets have a realistic criticism and take good and bad work both and analyze fairly. Not defending but just a point.
Vipul
dear HRT, why dont you take a course in math 101? 4 years + 6 months of grace very well falls under 4-5 years time frame. So how is this vague? In fact, why dont you go ahead and give me proper date (and add grace period) then? why dont you say that possession is in Jun 2018 (best case), worst case including grace period Dec 2018. Do you have the possession dates in your agreement? And why are these guys asking for time linked payments and not construction linked payments? Let me also give you some examples from Prestige (as you cant seem to see anything because of your prestige tinted glasses). Heard of a project called Prestige Laughing Waters? Now because it has been in litigation ever since it has become such a laughing stock that its not just called Laughing Waters. Heard of Prestige Sunnyside and Ivy Terraces. Those projects were launched in 2011. None of them are ready for possession yet. And these are smaller projects, barely 20% the scale of PLH. If Prestige cant complete 500 odd units in 3 years, what makes you think they will complete close to 4000 units in 4 years. Disney Magic Wand is it?
Penalty clause is a joke. Can you find out one single project where builder has paid penalty clause to the customers. Just one single builder – small, medium, large builder, whatever. No builder every pays penalty for delay to the customers.
I empathise with you that you have burnt your fingers with smaller builders, but looks like you havent learnt your lessons or may be you want the excitement of burning your fingers with a large builder this time. Good luck buddy !
>> have already calculated their profit when they will sell their Disney themed apartment in 2018
If i see comments here, what I find is that there is loss compared to investment in tax-free bonds.
while i would say PLH is a nice project there are other builers in the area which offer better value for money. But it is no match to the prestige open space as the premium charge by prestige is very high and cost is also very high. People need to decide what they need value for money or prestigious status symbol. hi i think you can invest in one luxury project yet sensibly priced in varthur. This project is 7 KMs each from cisco/itpl/sarjapur road. just 600 metres inside from varthur whitefield main road…..cricket pitch, lawn tennis, badminton, solar heater, club house, STP, kids play ground, pool, amphitheare, NO COMMON WALL 2.2 acre 140 flats…. its only 3100 psft as of today!!! its A khata property
Though they have plenty of open space, I don’t find any playground as such. It’s only kids playing spaces or at the most a cricket pitch. When your kids cross the age of 12, they need a place to play football, cricket – not really a mickey moused playarea or a cricket pitch only. People buying these premium properties are bound to have grown up kids who would never look at a play-area. So, it’s a problem. However, I see this problem all over Bangalore. Even the biggest projects here don’t have a play ground.
Check Divyasree Republic of Whitefield http://www.row.co.in They have a Cricket ground and location can’t find better one for me Just walk to work and totally peaceful ..I booked there happy that I choose something within walkable distance ..Pricewise final cost will be same for both I am got 2BHK in 65lac including reg..
Akash,
What is the size of 2BHK you booked for 65L? Is that including everything i,e. registration, VAT, ST, clubhouse, car park etc.
Vishal
This is 1047 SBA with about 73% Carpet and 2- Bay Windows (This are kind of replacement to balconies)..Yes It includes everything .This is one of good point which made me positive view about divyasree’s . They stopped charging for Car Park after Supreme Court Order But I see all other big bilders still charging it .This is first time (Atleast what I am aware of) a project was launched based on MRP which means it inludes everything (Base Price,CAR Park, Club House,BWSSB/KPTL,Maintenance Deposit,Sinking Fund etc) NO Preferred Location charges etc.. ..Only additional part was what we need to pay to Govt (VAT+ST+Reg) which will be about 12.5% of Total and Yes Floor Rise Charges (30/60 psf ) ..My MRP was 56.9 + 90K floor rise for 5th Floor + another 7.2 lac for VAT/ST/Reg…when I looked into different projects for last few months what I found how these buiders are making Us (so called great engg minds) FOOL with these illegal add-on charges..There is no conformity for these charges I have seen one builder charging 275 psf for BWSSb/KPTL and other charging just 100 psft..One builder is charging 3L for Club house and another is changing 50K …One is changing 3L+ for Parking and another is charging 1.5 Lacs…One is charging about 5% at total VAT+ST and another is charging about 12% as VAT+ST.. ain’t they fooling us how can they vary so much ..For us hat actually matters is final charge no the so call BASE RATE…I found they divyasree good when i interacted with their team..Just check thier sales team at the location you will immediately observe the professionalism these guys have..Other day i went to see the site and one White English Man who is project manager for this project was kind enough to drive the tour vehicle and explain the project in details Very professional team…Amenities I found the best again ..Just check yourself at the link..Even if they give the 50% of it I think it is worth of money..Location Can’t be better ..Situated within divyasree TechnoPark and close the 40% IT parks …2BHK is small in size and decent to live..3BHK is excellent ..I wish I had money to buy that 1.05Cr …But I though I can rent my 2BHK and take 3BHK with paying another 5-10K more..which I can afford but don’t want to take hugh loan as of now and add more tension to life… Last Now price is little high though..They have increased price by 3L to 5L last week when they officially launched. (they originally started 4200 psf last year in pre-pre lanched and closed very soon after 300+ bookings and i couldn’t get my check accepted that time )..
Thanks for the info Vishal. I too checked after your post but the carpet area is coming to 69-70% only. Not sure if there were same gaps in understanding or calculation. Yes the price is attractive but personally for end use i find 733 sq.ft. (70% of 1047) a little too small for 2BHK. Maybe for rent it may make sense. Also we wanted a balcony for sure which is missing. I find even 3BHK here are way smaller than the normal Bangalore standard. Maybe because they wanted to keep the price lucrative by keeping the units small. Amenities are good.
Since we were looking for a 2BHK of size at least 1300 sq.ft. it again comes to 80+ Lakh with this rate as well what divyasree is offering. Anyway thanks for the detailed information. Every individual has its own needs 🙂 though amenities are good since the size of house is too small we may give it a pass…
Vishal
also don’t be too impressed with Gora people 🙂 i’ve had experience with divyasree sales team and i find them more of marketing gimmick. Dunno why we get so impressed with foreigners doing the sales. I asked the lady if there will be cauvery water in future and she said “cauvery what” 🙂
They will sell and move on to other project or country 🙂
I saw the model apartments.liked it.the fact is that if all the public roads are made it will be made into four quadrants.so 30 acres per quadrant.prestige is royal.if u hv enuf money u wont comment here.rest all are middle class.those who cant afford rent this palce for a year and move to some other fantasy
>> if u hv enuf money u wont comment here
simply, not true!
a wise investor will always want to explore and figure out where to invest
High class royal man “Vikram” improve your English first before giving a gyan about classes of people to us.
Your highness , Unfortunately you sound more like someone from marketing team of Prestige!
🙂
What is the launch price ?
>> royal
buyers / investors want projects (or financial intsruments) that give royal RoI: could be stock, mutual funds, bonds, apartment / plot / vila from A/B/C grade builder… as log as legally allowed, ethically right and gives royal RoI
We have had some discussion about the model apartments in the buyers group. Overall, the general consensus is that space utilization of the apartments is really poor. For more details you need to visit the model apartments yourselves to see.
Personally, as a buyer of a 4BHK looking for end use, I feel let down. The Prestige Ferns model apartment is of a lesser dimension, but appears more spacious than its PLH counter part. This is also so when you compare it with 3BHKs of PSN. This is because the PLH layout is long rather than square, giving the appearance of a tunnel, making it `appear` less spacious.
Overall, as an optimistic buyer I’m now disappointed.
Thats all I’ll say.
Hello,
I looked at the Brochure available in the Prestige Website & noticed the following for 3 BHKs:
1898 sq ft:
1.Balcony=13.3*5 = 66.5
2.Living= 13*14 = 182
3.Kitchen= 9*15 = 135
4.Serv room= 6.6*6 = 39.6
5.Toilet=3.9*5.3 = 20.67
6.Dining= 11*13 = 143
7.Toilet=5.6*8.6 = 48.16
8.Bedroom 3= 12*12 = 144
9.Bed room 2= 11*13 = 143
10.Master Bed room=12*15 = 180
11.Dress= 8.3*5.6 = 46.48
12.Toilet = 8.3*7.6 = 63.08
13.Toilet=5.6*8.6 = 48.16
14.Balcony = 12.3*5 = 61.5
Total = 1321.15 sqft (1321.15/1898 = 69.5%)
1697 sq ft:
1.Foyer=6.3*9.3 = 58.59
2.Living/Dining=12*23 = 276
3.Kitchen=8*15 = 120
4.Balcony=5*17 = 85
5.Bedroom 3= 12*11 = 132
6.Toilet=8*5.6 = 44.8
7.Bedroom 2= 12*11 = 132
8.Toilet = 5.6*8 = 44.8
9.Masterbedroom = 14*12 = 168
10.Balcony = 5.0*7.9 = 39.5
11.Toilet = 5.6*9 = 50.4
Total = 1151.09/1697 = 67.8%.
1898 seems better. However, how would be the apartments? Can someone put up some pics for the Model apartment?
buddy bikram, there is a small catch here. if you go back to the elementary math, 1 foot equals to 12 inches. so consider your balcony calculation again, a balcony of 13’3″x 5 in square feet terms becomes 13.25×5 i.e. 66.25 (and not 66.5 that you have taken). Now when you do your calculations after getting the math right, you see the carpet area % shrinking further.
Hi Shiva,
Which is this buyers group you are referring to? I have also purchased a 3.5 bed plus servant room and to be honest am fairly disappointed with the model apartments as well.
Can you please point me to the buyers group so that I can have a meaningful dialogue? Thanks.
KP
Hi Shiva,
Can you post some model apartments pictures? What is the model apartment sq.ft? is it a 2 bed room or 3 bed room apartment?
Thanks
NK
The google group for the Prestige Lakeside Habitat is https://groups.google.com/forum/#!aboutgroup/prestige_lakeside_habitat . Please apply for membership with your apartment number
Your Highness, Duke of Bilgewater, it is the middle class which scrimped and scraped money to buy prestigious matchboxes and made prestige what it is today.The same middle class lubricates the economy all over the world.The royals will not buy prestige flats nor do they keep the economy going.It is this muddled approach of the middle class that made prestige sweepers also cocky-nosed.A middle class man can get eighty lakh easily to buy a flat today and that is why the real estate is getting fat.When this class realizes that builders and brokers are making merry at their cost they will stay away and investors will be looking at the wrong end of the gun.
Common Man, nameless xyz.
Hi XYZ.. Duke of bangalore.. i dint meant to define classes here.. I typed more from my android.. and few lines are cut. i dont know how it went off…so chill out and dont get irritated.. Also sanjay… i think my comment looks bit rude.. i dont find an option to remove it..
Hi vikram, it is nice to see that you are a gentleman.
“OH MY GOD ” —well this is only a movie but that is the reality.People want one god otherwise they will create one god.Our people put forward any kind of argument to justify their investments whether they be good or bad.They will invest at any price and in any place just for the sake of name which is created by marketing gimmicks. PLACEBO is the only word for all this mania.Even if a good doctor gives correct medicine our people will not be cured because they don’t have faith in anyone other than their MESSIAH.
This pretty much looks like a fool’s paradise…Builder is dictating all the terms and the buyers are hopelessly trapped….Lots of intelligent calculations in this thread itself showing the builder has managed ‘Chit Bhi Meri, Pat bhi Meri’ i.e. Heads I Win, Tales you Lose!! 🙂
STAY AWAY !!
its always been a fools paradise. Stay away from all builders and take your own land and build your own house 🙂
Do let us know which builder or which project you would say is cheap now. I think its totally fine to build your own house (yup you should have the money to buy land upfront as there is no staggered payment plan there) and build your own house and not waste a single penny on developers margin.
No one is forcing anyone to buy in any project.
I rest my case and will be quitting any discussions on this forum. no matter how sane logic you put there will always be people to think otherwise 🙂 invest and live where you wish and stop wasting your time in bashing people on forums like this. It wastes your time and everyone’s else and adds no value to the discussion. If you want to criticize a project do that but with solid data points instead of overall stupid comments without any facts/figures.
Vipul
Couple of things i noticed during my site visit
1). The 3BHK model apt looks small – small living+dining and small bed rooms. Did others feel the same?
2). Delivery time is about 5 years ! That’s awful lot of wait. On the positive side, it gives me ample time to manage my finances.
3). There is a public road going right through the project. Will it lead to some kind of security concerns for the inhabitants?
Yes.. the carpet up area looks to be small. When I visited a reality exhibition in hotel park, they said the availability for Rs.4770/- is above 18th floor and also indicated price rise from last week. What is the rate they are quoting now
I got information from sales guy, that the price is increased by Rs 90/ sqft from 18th dec. another 100/ sqft increase at the time of launch on 18 th jan.
@shyam : they told me the same thing when i visited their site. I think thats a lie. i cant believe that not a single flat below level 18 is available whereas everything above level 18 is available ! thats basically to make sure that despite pricing the project at 4770 they make sure you pay high amount for floor rises !
Below 18th in Phase 1 is very hard to get. Having purchased one recently, I’ve seen the actual buyers list and things are actually very full in this phase
seems like the 70% carper area is the trend across all builders now. I felt the same when i visited couple of brigade and sobha sample apartments. I believe personally that if you can wait for 5 years it would be worth the wait.. I’m living in my own 2bhk and have booked 3bhk in PLH. I’m not in real hurry to move into a 3bhk but i see 4-5 years down the line i would need a bigger place.
As you pointed, we can plan the finances in 5 years well and may not have to take a loan or a very small one. This 5 year thing totally depend on person to person and their upcoming needs. If one needs in 2-3 years there are ample under construction projects available as well in whitefield and orr.
One guy mentioned in below posts that as per BDA its mandatory to leave space for public access roads and that is true as well. You cannot have as per law and rule a closed township without leaving space for BDA to build roads in between. So 20 acres+ closed communities which have not left any space are not actually abiding by the law and hence may face issues in future. There are 2 positives to this access roads
1. Prestige is following the rules laid out by BDA so that future residents don’t face legal issues
2. You don’t have to walk 2 kms to come to main gate and there will be multiple entry points and you can get access to a connecting road in 200-400 mtrs from your home
cons:
1. Safety maybe a concern but as per Prestige they are going to fence the community even if its divided in clusters and the entry into any parcel will be guarded and gated. Lets see how it works. I don’t think they are so petty builders who will save of cost of 3-4 more gates and dilute the attraction of this big a project.
2. If you are tooo near to the road you may have some noise etc. but not on higher floors. Again that is personal choice. I see that road will not be like just next to a tower. So not sure if this will really matter.
Overall after comparing with many other builders and projects i narrowed down to this one as it suits my location/community and time preferences. Actually that 5 year thing worked for me as i don’t prefer taking huge loan and pay EMIs half my life.
Vipul Rastogi
Its not mandatory to have public roads in a community of 100+ acres. There are atleast 2-3 projects by prestige having 100+ acres and none of them having public roads. In case of PLH, the CDP by BDA/BBMP planned roads in Varthur area and they are cutting across this project and hence the builder had to obey the government orders. And this is in a way good as one need not worry in future.
Currently I own a 2bhk and need a 3bhk few years down the line. Thus, booked a 3bhk in PLH. Recently, I had received a letter from PLH stating that they had received the booking amount and they want me to release the rest of the 20% and 23 PDCs for the remaining 80%. Only after giving these cheques they’re going to provide me an allocation letter. I am little confused here. If I am going to take a bank loan, why should I give the 23 PDCs? Also, without even allocation of the flat why should I pay the amount?
Am I missing something by reading too much into it? Is it normal for builders to ask for payments this way?
Are you sure that they have not allocated flat no. Generally, they will provide you the the flat no. and then you need to pay 20%. A formal allotment letter will be released post 20% and on submittion of PDCs. PDC will be used as a security and will not be presented to your bank for those who go for bank loan.
As per my discussion they will not encash the PDCs without your permission. If you are taking bank loan bank will release the money or else they will inform your that they are submitting your PDC.
Prestige is peculiar in that unlike other builders they have this time based plan where they charge after every two months.
It has its pros and cons, pros is because they take money from you upfront they are less debt ridden and more probability that they will pay their sub contractors on time and hence complete the project on time. obviously it makes sense for prestige too as they don’t have to take any loan apart from what they would have invested in buying land etc.
con is in case the project get delayed you have already paid the money. but as per them they say they will give 8.5% or something interest on the total amount paid till date if the delay is more than 6 months which comes out to be decent compensation and covers your pre-emi kind of whereas other builders pay a meager amount which neither covers your rent nor pre-emi.
so the coin has two sides and yes its beneficial more for prestige any day..obviously you didn’t expect them to be saints 😉
Hi Papikondalu,
Yes, its common for Prestige to ask for PDC’s and 20% before allotment letter. They will deposit the cheque only after your consent.
Hence if you have taken a loan, just dont ask them to deposit it.
not sure if the price at which this project is launches is good or not but overall this area is at least neither a garbage dump area of bbmp nor are there any toxic chemical factories around this place unlike other many other projects from multiple top builders including prestige. so that way its somewhat good but yes not sure about the per sq ft. price if this makes it a good buy or not but location is not that bad.
Ramesh H
I haven’t seen such interest and so many people commenting on a project in Bangalore by any builder like PLH on this site. Is it manufactured or real? I’m really confused here. Are so many people all from builder promoting it or is there a real interest in people for this project.
Its understandable that in Bangalore you have only few 100+ acres township but in this current state of economy i wonder how still such a response is received by a project.
i read an article today that says Varthur will be the next hot destination due to NH207, Peripheral Rind road, schools, connectivity to ORR etc. but where is it currently apart from schools, the road are narrow today.
Amit
It is mixed. My impression is that there is participation from Investors, end users and sales and maximum domination is from investors and sales guys. The current sq ft. rate in core area of Whitefield is around Rs.5900/- to 6300/-. This project is just 3 km away from the developed area, the cost is from Rs.4770/- to 5400/-, 100+ acres of township and from A grade builder. And an excellent marketing from builder and channel partners. I guess, the investors are from all over the world, where India population is good .. like US, UK, AP, Middle east etc., and many of them go for it and there by the demand. From end user point of view, if a person cannot down pay 60+ lacs (for 2 bhk), 80+ lacs (for 3 bhk) for ready to move, they have 4+ years of time to plan their payments through their own income + bank loans and of course with 15+ years of EMI commitment. All put together, I won’t be surprised to see that they have sold 180+ villas and 1000+ flats during pre-launch stage.
Good article.
http://www.magicbricks.com/iimb-hsi/index.html
Very rightly put Shyam. Both in villas and apartment what benefit you get in pre-launch is you get TIME to pay that amount. Also, everyone knows Prestige is good in marketing and they do attract a lot of end users and investors across the globe due to their past projects and credibility. Undoubtedly they are the elite ‘A’ class builder of south at least.
Regarding area, yes i did googled the prospects and found a plan from BBMP which will connect Varthur to ORR via Panthur. When i see on map that will make PLH a 8 min drive to connect to ORR near Cisco. So that does really count provided it comes up as planned.
Sri
we can buy beautiful homes in Australia , newzealand and London with the kind of money people
spent in bangalore..
bhai you are tata…you can buy anywhere… we are common people, our reach is only local as we work here earn here and spend here. We want a home in a city where people give work to us and we have a shelter.
seems like you already have business/jobs in London, Australia and NewZealand. No offence but i hope you got the point.
Anyway will surely check with you once i have so much to spare that i go and invest internationally!! that time is yet to come…even am waiting 🙂
Very well said Vipul ~ I loved your reply
@Vipul : I hope you have checked whether you would be able to reach your office after moving to PLH. If not please check the traffic congestion.
Paying 30 lakhs extra for 2 BHK just because of disney and not being bothered if there is a hospital nearby where you could reach in times of emergencies.is unimaginable.
I took my 3rd trip to Varthur and could see traffic has turned worst with no scope of improvement. This will get even worst when various under construction Projects in Varhtur are completed and people move in there. There is hardly any scope of road widening and this is the ground reality.
Agree with you Sanjay. I’m not saying this location is out of the world. But based on my analysis and search for an year i see most locations of this big townships are like that. I’m not into this project for Disney.. rather i find it really amusing that who goes for these kind of marketing gimmicks and asked the Prestige folks that why do you do all these fancy stuff and how does it matter if the theme is Disney or something else.
I’m into this project due to Prestige, quality and trust. I have seen and experienced the difference between a small builder vs. a top builder like Prestige or Sobha. They are much reliable.
On location, yes its a risk i have taken. As of now its not good, but when i see BBMP/BDA plans for growth in this area and road widening which is already approved (i know it will take time 🙂 ) i feel this will be a good place to be in next 5-6 years.
Point is, we see and appreciate places which are now hubs and have already grown be it Koramangala, Whitefield etc. but i’m sure if you are here in Bangalore for at least a decade you would know that they were Jungle sometime back. People use to laugh at individuals who took land/property in Whitefield, HSR or Sarjapur. Now the same place have been acceptable to many.
So yes its a risk, if govt. does things as per plan this project will be 3.5-4 km away from ORR and will connect via Panathur which will be a 10 min drive to ORR. Once at ORR it will be singal free which is kind of already in place.
I’m not asking anyone to invest in this or other. Use your mind and take your call. Maybe what works for me doesn’t work for you and vice-versa
I agree with Vipul here. Also, this is a mega project with a mega builder. They have taken too much money and have a reputation to protect. When you are this size, you have abilities to ensure your customers get value for their monies. 5 years really a long time and we have seen areas of Bangalore transforming in less duration than that. So, let’s keep our fingers crossed and hope for a beautiful community.
Best of Luck Atul 🙂 … Though I would say you do not need to wait for 6 years to see the development as it can not happen overnight. If you are expecting the place develop or roads to get widened after 6 years you can do a reality check on your own at least once every year and see if there are any positive signs of the development.
Let’s assume that roads etc. develop in 5-6 years. Good for folks who are buying to live there and for others who might be using those roads. May be it also decongest some other parts of the city..
For pure investment: might be good to compare with other investment means as well.
One can buy tax-free bonds and get interest in the range of 8.4 – 9 % (tax-free).
A 1 cr apartment will need to be selling at approx. 1.55 cr after 5 years to get the same rate of return as given by tax-free bonds. Saying 1.55 and not 1.40 – 1.45 as one will need to pay long-term tax on capial gain as well (without calculating the actual tax amount). Let’s say that one wants at least 5% higher returns than the rate of tax-free bonds. That will make it approx. 1.7-1.8 cr (and there will be tax implications). As one counts EMI etc. calculation becomes more complex.
What is RoI expected in this particular area?
alt1 you have surely a point. It looks a distant reality that an apartment will sell for 1.5 Cr. 5 years down the line, but tell me this. 5 years before i.e. in 2008 at what price were you getting a 2/3BHK.
I was getting a 3BHK that time in the range of 70-80L and i found it way inflated. Now the same 3BHK is ready to move in and when i checked the price they are asking 1.3 Cr. may negotiate to 1.25 Cr.
I waited again thinking who will buy and surely they will have to reduce the price. To my surprise the unit i liked is gone and sold!! God knows where the money is coming and who is buying i have no idea but what i know is its not coming down.
This is what i have seen. In 2008 talking about 1Cr. was big deal. Today its 2Cr. I can’t say for sure if this is the way it will go but honestly i don’t think the run from 2008-2013 (which actually was a economically dull period post recession) have still seen prices going up. I’m amazed and confused!!
What should we do wait wait and wait forever??
Prime locations which are good…for e.g. Brigade Cosmopolis are asking insane prices. At least here the prices are much lower than those (yes location is not the same obviously).
Not sure if i’m 100% correct but i did have spent a lot of time in analysis and have discussed with peers and read articles and have ground level research by going to every site.
This is my conclusion of how it works in India. There is some reason to it for other i have no idea honestly how it works!! But i don’t it coming down anytime soon, it may stagnate and we can call it correction but not coming down.
Vipul
Vipul,
If people are looking at 100% payment, then the investment objective will not be met. Thus, buying for living is a very good option – I am also doing the same – looking at long term value for living.
In terms of investment, the amount paid in 1-2 years time frame is less. Thus, if the property appreciates by ~ 10% in 1 year, one would pay around 40% of total value, which makes it a decent return. Also, if it appreciates by 20% in 2 years, one would have paid around 60% by then, which also makes a decent return. However, a larger horizon than 2 years would start to reduce the returns. However, all this is speculative in nature – what if the price movement is not there? That is the risk the speculators take.
I don’t think these are good options from perspective of re-selling. There are much better yielding options from resale point of view
Atul/Vipul/Alt – My personal view from investment perspective is – Very less(read almost none – except those who are upper class) buys 1 Cr apartment from cash reserve and if one is buying than it’s not good business. So considering that assumption – for 1 Cr , one pays 20L from their pocket upfront and remaining 80 L would be financed as house loan. that 80L would be disbursed to builder during 4 years period and with estimated interest rate of 10-11% during the period 4 years, one would be paying 4-5L average(for the first two years, it would be less) interest per annum. so that sums upto around 16-20L. So effectively, the amount gone from ones pocket during 4-5 year span is 35-40L . Now lets assume , apartment sells at 1.3Cr. prepaying 80L loan will leave around 50L, out of which we paid around 20L in interest.So profit before tax would be around 30L, Assuming 5-7L goes in tax . Still left 20-25L net profile. Which is more than 100% gain in the period of 4-5 years 🙂 .
Yes i understand there is risk involves and thats various uncertain factors. But thats the risk individual has to take,
PLH is not good at all in terms of ROI. Properties from decent Builders which are better located in Varthur are costing around 20-25 Lakhs lesser when compared to PLH (comparing cost of 2BHK of 1180 sq. feet). Expecting roads to be widened and Gunjur to develop in 5 Years is ultimate heights of optimism.
People are asked to pay 75+ Lakhs for 2BHK just because of Disney! Probably such people will apply for job at Disney only as due to traffic congestion they would not be able to reach to any of the nearby offices in ITPL or Outer ring road!
Also if anyone in their family needs urgent medical attention they will also rush them to Disney as the entertainment will cure them better than struggling in traffic.
Projects like PLH will re-define tourism as well because people having their houses within disney will not travel outside their township!
Simple_man,
your calculation is some what right but you failed to judge correct appreciation value….a property appreciates minimum 12-18% per year…sometime even more…..but for this calculation if you consider even 12% then after 5 year it will cost minimum 1.6 – 1.7 cr.
Now if you remove 1cr investment + 20L interest, you get 40-50L profit…..you are making 40L with 20L investment in 5 years….. And this is true for almost all good properties in bangalore…..
Priya: You said that some good properties are available at less price…can you please name few of them ? According to me not a single tier 1 builder property is available less than this price…..
well said Priya 🙂 Instead of talking abstract for the interest of all can you please put up a price list of all those “decent” builders you are able to get in that area and the credentials of those builders.
Do let us know and i think if they are decent enough we can take a small hit, cancel our booking at PLH pay the cancellation amount and move to these decent builder, i’m sure we would still be in profit based on what you are saying as Prestige won’t charge us 20L for cancellation. I’m fine to move as long as it has similar facilities like PLH (don’t mean Disney here 🙂 ) and i can be assured of the quality etc. with some credible past record or data point.
Regards
Vipul
Simple_Man: Pls check calculations again.
Taking an example
1 CR – buying date: Jan 1, 2013
Selling on Jan 1 , 2017
Gave 20 L initially in 2013.
Took loan for 80 L at the rate of 9%.
Interest of 80 L – approx Rs 7 L per year (not doing exact calculations — descreasing etc.)
one pays Rs 7 L x 4 = Rs 28 L in 4 years (again doing approx calculations)
One sells for 1.3 after 4 years
1.3 – what one has paid = 1.3 – 20 – 28 is approx. 80 L (and one has to pay back loan also)
Profit seems to be very low in 4 year example
loan, your calculations and assumptions have issues. Here is your calculation
(your version)
Taking an example
1 CR – buying date: Jan 1, 2013
Selling on Jan 1 , 2017
Gave 20 L initially in 2013.
Took loan for 80 L at the rate of 9%.
Interest of 80 L – approx Rs 7 L per year (not doing exact calculations — decreasing etc.)
one pays Rs 7 L x 4 = Rs 28 L in 4 years (again doing approx calculations)
One sells for 1.3 after 4 years
1.3 – what one has paid = 1.3 – 20 – 28 is approx. 80 L (and one has to pay back loan also)
Profit seems to be very low in 4 year example
Here is what it should be: (my version)
1 CR – buying date: Jan 1, 2013
Selling on Jan 1 , 2017
Gave 20 L initially in 2013
Took loan for 80 L at the rate of 9%
Since the payment is time linked and staggered you will pay 20L every year to Prestige which banks gives and hence charges interest @9% only on the disbursed amount.
So Total interest you would pay (assuming you would not pay even a single penny in 4 years back to bank which i think any sane person would do as he would like to reduce his debt and pay lesser interest)
anyway lets assume you don’t pay single penny back to bank here is the interest you would pay
Year-1 1.8L (this is also rough as actual amount will be lesser…why bcoz this 1.8L is 20L * 9% which will not be case since bank will pay Prestige this 20L in Year-1 in 6 installments and hence charge interest every month based on amount released)
Year-2 3.6L
Year-3 5.4L
Year-4 7.2L
Total interest Paid: 18L till 2017
Now as you said “One sells for 1.3 after 4 years” I think even if we take historical past 10-15 years data an appreciation of 15% is very conservative so i think in 2017 you would sell for 1.6 Cr. at least
With this
1.6 – 18L (interest paid)= = 1.42 Cr. – 80L paid back to bank = 62L total profit
This assuming you are taking only for investment. In any case, i think there is decent room for appreciation. Don’t expect moon here that 1Cr. will become 2.5 Cr. in 5 years. But with the labor becoming costly, and construction cost, cost of living increasing real estate will become costlier and no cheaper.
Vipul
@Ravi :
If you are looking for decent builders then you just need to roam around in Varhtur area. The appartments which I have visited contains the amenities such as Gym, Play Area, Swimming Pool, Indoor Games, Jogging track etc. The location is much much better than PLH as its in Varthur and not in Gunjur village.
Agree the builders are not tier one builder. I will not name any single builder as then I will be blamed for promoting those builders.
If you are very keen for paying 25 lakhs more in the name of tier one builder then please go ahead and enjoy the disney. BTW just realized that 25 Lakhs more is like paying 50% more than any decent appartment in Varthur from non tier1 builders.
For better ROI if I have to invest in Varthur I will invest in these builders rather than investing in PLH.
PLH is way overpriced to give any ROI to me.
Unfortunately my multiple visit to Varhtur at various times of day and days of week has so far failed to impress me as an area for investment. Reason being pathetic traffic congestion and I know that things are not going to improve in next 5 years, its going to get worst.
Re-doing one earlier example. anything wrong here?
1 CR – buying date: Jan 1, 2014
Selling on Jan 1 , 2018
Gave 20 L initially in 2014
Took loan for 80 L at the rate of 10%
20 L in year 1, interest: 2L
another 20 L in year 2: interest 4L
another 20 L in year 3: interest 6L
another 20 L in year 4: interest 8L
total interest in 4 years: 2 +4 + 6 + 8=20L
One sells for 1.3 after 4 years
1.3 – what one has paid = 1.3 – 20 – 20 is approx. 90 L (and one has to pay back loan also)
+ one has to pay 30% short term tax on 30L i.e. approx. 10L tax (as i believe one has to hold for 3 years after full payment for long term tax rate)
Profit: low in 4 years with 1.3
Should reach around 1.6 – 1.8 to make it good in 4 years
>> 1.6 – 18L (interest paid)= = 1.42 Cr. – 80L paid back to bank = 62L total profit
Tax on 1.6 – 1 = 60 L
30% rate as it is short term tax ~ 20 L
40L profit if one finds a buyer for 1.6 in 4-5 years
or one could re-invest in another property to save tax and hope for another 15% appreciation per year.
Don’t know how long this 15% historical data continue and that also for a small apartment!
something doesn’t look not ok with last part of calculation:
>> 1.6 – 18L (interest paid)= = 1.42 Cr. – 80L paid back to bank = 62L total profit
There is initial 20 L investment as well
1.6 – 18 – 20 – 80 ~ 40 L
One also needs to pay tax on (1.6 C – 1 C) ~ 20L
Profit: 40 – 20 ~ 20 L
>> 40L profit if one finds a buyer for 1.6 in 4-5 years
shouldn’t it be 20L
1.6 – 20 (initial) – 20 (interest for 4 years) – 20 (tax on 1.6 – 1) – 80 = 20
@Vipul : Your calculation is not at all realistic and is too hypothetical. Most amazingly wondering how you have arrived to figure of 1.6 crores by just talking about some random data to convince people.
PLH property worth 1 crore growing to 1.6 crore in 4 years sounds hilarious.
Lets mark our calendars, put reminders for 4 years from now and come back here again to see who was right!
Looks like you work at PLH and have gone beyond your duty…. you surely deserve accolades from Prestige Management. Still fact is fact Prestige has failed terribly in understanding the people’s mindset and even after 3 months of launch people like you are still trying hard to convince us.
My personal experience in Bangalore. Never expect development from Government and then living in that area. Develop your area and then expect infra development from BDA/BBMP in next 4-7 years. Same will be happening in Varthur area.
which area in bangalore developed within 4-7 years..the changes of bangalore developing in future is not there..bcoz it already spoiled to the worst..No proper holistic planning has taken place
future is going to be worst than bombay.
Kaggadasapura, Doddanakundi, Munnekollal and Sarajapura Road which I have seen. When I say infrastrucutre, they now have good roads, sweage, water etc., compared to 5 years ago.
Kaggadaspura is quite a dirty area. Although, there are roads but most of the roads are very narrow. Many trees have been unnecessarily cut for trivial purposes. These days Kaggadaspura resembles a dust-bin with garbage littered everywhere.
Let us look at the positive side – In case we are unable to go to office due to traffic, we can at least enjoy the Disney rides ! Probably, such a situation has been figured out by Prestige as well, hence the high price !
I think its easy to laugh off at tata and ridicule him. but if you think with a level head he point is valid. take any parameter (avg income, infra index, development index, quality of life) – any parameter that you chose and put that against the property prices in Bangalore and then compare that with any city in the developed world, you will clearly see that prices in Bangalore are ridiculously high. As i have saying this for some time now there are so many 3BHKs that cost 1 Cr+ in and around whitelfiled-orr-sarjapur-marathalli than the total number of working people who earn a salary of even 30 LPA. so who are foing to afford these houses? clearly either people are willing to overleverage and overpay or its just an artificial demand (and of course artificial prices) !
now ridiculing anyone yaar… just the raw fact is this is how India is. Forget about reality, i have seen anyone who have gone abroad even once start singing songs of how clean it is blah blah and how organised etc. tell me one country which is as populated and diverse in culture like India. There are many-many factors at play here which decide the market. Its unfair to compare Indian with any developed or even developing nation. We are a soft nation with very delicate sensibilities.
I agree prices in Bangalore or Pune, Mumbai, NCR are not the real value of the house and what it should be but that is how it is. Don’t compare it with an organised international market where real estate is a much organised industry with better regulations and less corruption in politics.
I remember a dialogue from Rang De Basanti which Anupam Kher said “Bhai ye India hai, yehan dulhe ke saaath Puri barat bhi khati hai”
Corruption is deep rooted and i sincerely hope we come out of it one day but till then anything you buy from a house to vegetable has a mark of corruption in it and the money flow to top for each penny you spend and its controlled that way. Builders want to make profit and they know they can’t kill the golden goose (we customers) in one day by raising prices to that level that no one can afford (yes its almost already there). They don’t inflate the prices alone (yes they are party to it but not alone). If they have to pay huge amounts to get approvals, acquire land and so on…. the list goes on so where are they going to take. Their margin of 30-40% is fixed, any cost over and above that is passed to customers.
I’m not defending any builder in particular not do i have sympathy with any builder for that matter. But this is how it is and i don’t see it changing anytime soon.
Vipul
>> road are narrow today
FYI:
We visited in a weekend (in a car).
Kundalahalli traffic signal (Hypercity) to layout – it took us 55 minutes
There is a board near Varthur lake that says it is 4 km to layout (i.e. from Varthur lake).
With this, distance from Kundalahalli signal to this layout may be 7 km (I guess)
Layout to Kundalahalli signal: took more than 2 hours.
Must see/experience before going ahead with this project. Roads looks very congested, lots of trucks/buses. Would get more congested during rush hour.
https://www.youtube.com/watch?v=fLwV_9X5lN4
Thanks guys for sharing the info. I too googled like srinath and though i agree with bikram’s and other person’s post that road is congested but as per BBMP plan i see two roads cutting across this project site one connecting to ORR ~ 4kms stretch i.e. ORR will be 4 kms good road and other a CDP road which will connect somewhere near forum value mall/varthur lake but not going through subzi market which is good as this is the a bottleneck.
I drove from forum value mall to site today and it took me 18-20 min one way.
So my analysis is, if the planned roads come this will be a good place to be. Ball is in civic authorities court and if they build decent infra as planned (nothing out of way but as already planned and approved by this new govt.)
What are the chances of this happening? God knows knowing our country. But that is where i feel the appreciation will come. If 2-3 years down the line these roads do come then you have a winner in hand and good appreciation. So decide for yourself do you want to go for it and take the risk or come back after 2-3 years when you see the infra coming up and then take, obviously needless to say by that time prices would have already gone up. But i think both options are not bad. Taking after 3 years bring surety of what you are getting into and also avoid paying pre-emi/interest on loan but yes paying the appreciated price would need you to shell out more money right away from pocket in case you decide to take after 3 years in re-sale. So both has pros and cons. In second, you know that you are not dependent on the current narrow road only but would need more money in hand if this is the location and project you want.
Overall, i’m relying on the CDP roads coming as planned (if not in a 2-3 years but maybe in 3-5 years at least) rather than not coming at all.
Regards
Amit
You may look at BDA and BMRDA CDP Maps at http://clearvalue.in. It has got good info on Varthur, Whilefield, Peripheral Ring Road etc.,
Hello Shyam,
This is very good information. I checked the guidance per sqft values for Whitefield & Varthur & both these areas show significant less value (as per Govt directions) than what is charged by the Builders. Not sure why Govt is not cracking down on such unrealistic prices…unless they themselves have something to do with these artificial prices! I feel that there is absolutely no use of such guidance values, if it is not monitored & enforced.
I have been trying to buy a villa since 2010/2011, that time my budget was 1.5cr to 1.8 without any loan or go for a minimal loan and pay off before possession/1 yr period, as loans takes away all your money and no vacations/no fun for long term. I looked for akshya red stone, 10 downing, and few other in whitefield, none seemed to be good wrt to commute to koramangala where me and my wife works. I started looking around sarajapur/orr stretch/hsr. Somehow I missed adarsh palm retreat by the time I realized it crossed 2.5cr. mantri espana even though was a good option, I wanted villa. hsr is not gated community where the prizes are soo high for a road side duplex, I always wanted a gated community be it safety/at least few years of your own space of cleanliness. So hsr was ruled out. Finally left for me sarjapur road. Since 2012 I have been looking for various communities and prizes started heating up. Few properties with no amenities started charging more than 2.5 and this year the resale prizes show as 3.5cr. Don’t understand where money is flowing. All the 3cr 4cr people where are you getting money from, please advise, will follow your foot steps and at least will try to be your 2cr neighbor!!!!
Well said… same here friend. I have been trying as well for last 2 years and adarsh palm retreat was way above budget always. People who booked it in 2007 there could only afford and even at that time it was way off budget. Adarsh anyway is infamous for delaying project. I too wonder where people get money to buy 4-5Cr. properties but look it that way. You are now ready to buy 2Cr. villa but there must be people who would think where are those 2Cr. people who buy apartments of this range like Mantri Espana and villas. Nowadays 2Cr. is the new 1Cr. its a above avg budget and nothing special. There are lots of people who are able to afford specially double income group DIG 🙂
After a lot of searching almost same places you did (HSR is awesome but not gated so same issues) i ended by buying in PLH. There is and always will be dearth of villas projects as builders get more ROI in apartments than villas. Also, since the ROI for builder is less as land is not utilized optimally from their point of view they would always have to price the villas a little higher to get to the expected margin. We all know the value of land now in Bangalore or anywhere in India, even in rural India its touching sky. So overall i don’t see you would get a villa even in remote area (by remote i don’t mean 15 kms away from BIAL 🙂 ) under 2Cr.
i took the leap and will see if i can afford it with minimal loan. Learned one thing from my waiting since last 2-3 years. Things are not getting cheaper, land is not getting cheaper nor labor nor steel or cement. So stretch your budget a little and take it. You will not regret in long term specially in projects like these and few others like Palm Retreat and would enjoy the property for the time to come.
Enquired prestige about the villas in this project yesterday. as per them around 180-190 villas out of 270 are already booked. I really wonder how true that is, but at the same time wondering if they would deny a tempting customer as based on the discussion seems like they are left with only bigger size villas which are 4Cr.+ Bangalore seems to be really a hot destination for villa projects.
really surprised. in other cities it takes time for builders to move the inventory specially in 2Cr.+ bracket and here in pre launch itself they are claiming they have sold so many 🙁
they did try to sell me a another villa in their some augusta project though.
Best Regards
Srinath
It may not always be end users who are buying the villas/apartments. Sometimes, lots of politicians or local agents book these at lower prices & then sell at a higher price later. One can always sell in between construction. Need not pay the entire amount now. Source of such funds are not always clear.
It is also a fact that NRI’s (especially from IT or Global MNC like GE, Cisco etc) are looking at Bangalore to settle down in the long term. Some of these folks have also returned to India permanently. This is another source of sales. As per some recent studies, almost 60-70% of the recently constructed apartments are lying vacant, because their owners are residing somewhere else (either elsewhere within India or abroad). It is also a fact that due to various issues with other mega cities within India – Delhi, Mumbai, Kolkata, Chennai; Bangalore does seem a better option. However, Bangalore should focus on improving the infrastructure, & general amenities available to its citizens in order to keep up the momentum & price hike. Else the bubble would burst sooner than we think.
I checked with Prestige guys today. They do have few villas in 3130 and 3117 rate but most good ones are blocked. Some are blocked even from 2-3 weeks and they are slightly bending to unblock them to someone who obviously pay them first.
i’m narrowing down to one in parcel-5. Options are less now but if you are ready to pay 8150/sq.ft. (which they are charging for premium units) you may get some options. All odd/not so premium units they launched at 7650 (just for advertisement) are already gone. I think must be booked by investors as if you plan for end use you would end up choosing something in 7900-8150 rate only as they seems fine.
-Vikas
Hi, I am considering buying a B Type Villa in PLH. What location within the project would be good? Each location has it’s own + or -. Just need to understand various perspective as this is a big spend, don’t want to go wrong. Any feedback is most welcome. Anyone else who has bought a villa/apt here? we can form some community. If there is already one, let me know.
Hi Atul
I have bought a Type-1 Arista villa in parcel-05. As per my reading this parcel is better than parcel-06 which can have road going in between. Also, since this parcel is fully villa with majority of high end ones and since Prestige is giving contracts for each parcel to individual contractors to build the whole township in one go i find this will have the most focus due to the batch of all high end villas in this parcel. There is no private property facing the villa in this parcel so no fear of a high rise just on your face.
Prestige is charging extra for East, and North-east facing villas as they come for a premium and instead of calling it PLC they are saying its available only in phase-2 or phase-3 whose prices are 500/sq.ft. extra. So ideally, if you are really bothered about the facing (which i was as its not an apartment and a villa where sunlight and vastu does matter) you need to pay that little extra. But since anyway even you re-sell you get a premium for a north-east. east facing villas and and they move faster i am not that troubled. Its like call it PLC or phase wise charge every builder milks out the most from their so called premium units. So take your call.
I have booked at the beginning of Pre-Launch, i have heard that out of 270, around 172 are already sold so better book your fast if you are concerned about facing, parcel etc.
Tushar
Hey Tushar,
I have also booked type 1 3130 and wondering if you put some effort in calculating carpet area ? Does Terrace be part of carpet area?
Thanks,
SJ
Have anyone done a detailed analysis of this location? I have been researching mainly in East and North Bangalore and though i agree with some posts here that due to subzi mandi on the way currently the connectivity is not that great and in peak hours it becomes difficult to drive on varthur road but when i did an analysis i found that this area does have potential provided govt. builds the CDP roads as planned and approved. Once the CDP road and peripheral ring road (though approved god knows when it will come 🙂 ) is built, you can work at Whitefield, EC, ORR or upcoming Devanahalli tech parks and stay here. Reasons, 4 lane CDP road will connect you to ORR in 4 kms same on other side towards Whitefield and EC will not be far off too. Peripheral ring road will connect you to Devanahalli i suppose in 30-40 min.
Overall it can be good place to stay – Provided the biggest IF roads come as planned 🙂 its a risk on that front only. apart from that i find this as a place to be in next 5 years as what i read from other forums and posts here even Mantri and Sobha owns big land banks here and collectively all these nexus among builders are hyping this area and maybe making sure also that this becomes a place to be in next 5-10 yrs.
I do hope they pressurize the govt. also to follow on their plans and make it well connected instead of concentrating only on their internal project development and infra.
comments welcome!!
-Krishna
When compared to Prestige Sunrise Park and PLH I see PLH is overpriced (PSP birchwood still available at 4250 base price where as PLH priced at 4770 ) Location wise i see PSP got advantage as the project situated in the door steps of a software hub , Whereas PLH in Gunjuru which is only in the close visinity of ITPL
is there a group already being formed for owners in PLH. booked a 3BHK yesterday. Would like to connect with the community
Buyers can send the request to join the group @
Swati – https://groups.google.com/forum/#!forum/Prestige_lakeside_habitat
You from Prestige marketing right ?
🙂 First i’m not the same swati who was active on this thread from Prestige. Second, its foolish to think there can be only one swati in the world and a very bleak coincidence that a person with the same name in prestige employees can also exist as a buyer.
In any case, please read my comment. I’m neither boating about PLH nor selling it or marketing it. I asked a simple one liner question that is there is a forum. If people consider even that as marketing from someone i have No Comments!!
Friends,
Now-a-days, seems Prestige is hiring Internet professionals to promote their projects.
Professionals act as if they are customers & promote the prestige projects.
Be careful!!!!!!
In case this matters – I was considering a 2321 sq ft 3BHK. Took a look at the carpet area offered. Startling to find the carpet to super built up ratio is at about 68% – including balcony and sit-out.
I did the same calculation for few others. See below:-
Prestige Shanti Nikentan (PSN) – 3BHK, 2292 sq ft – staggering 78.5%
Brigade Cosmopolis – 3BHK, 2260 sq ft – 69%
DNR Atmosphere – 3BHK, 2257 sq ft – 72%
Not sure if this data is sufficient to say that PLH has at least this one on the cons side. Or is this just changed market dynamics that is bringing down margins so bad that builders have to try new techniques to spike it up, in their favor.
Comments welcome!
Old projects ( PSN, Purva fountainsquare etc) used to come with very high carpet area to super built up area ratio. New Projects which you see PLH, Brigade, DNR all comes with ~69-71% range. I don’t think 1-2% will make much of a difference. You may want to look at the architecture/Ventilation, one side open/ two side open/ three side open etc etc.
Hi skm,
I have booked 3 Bhk (1655 sqft) . I have checked carpet area it’s coming about 1186 sqft (71.5%).
But the sales guy are telling it’s about 74%.
Hi Vikas83
The presentation PDF does not have specs for master bed in 1655 config. So I went ahead and assumed master bed to be of 180 sq ft. It does come to 71.8%.
Thanks for sharing this info. I might as well go for this config. BTW the sales guy I spoke to said they know abt utilization %age between 70-72%. However he could not explain why my calculation yields lower.
Good analysis skm. I agree with you. Gone are the days when carpet area used to be 75-80%. All ‘A’ class builders and here in mean Prestige, Sobha, Mantri, Brigade and recently i checked even with Total Environment are resorting to this tactic. Instead of increasing the price (which sadly we all find anyway inflated) they are reducing the carpet area. So ideally we pay for 2321 but actually we are paying extra for almost 200-250 sq.ft.
to add to your comparison, Total Environment is a different class but when i checked their Windmill of Mind project it has carpet area of 80% whereas their all new projects has carpet area of 70% as per them (i find them very upfront and honest in that). Asked why, they claim we were foolish earlier and now understood the game 🙂
So all in all, we can talk talk and talk, unless we build out own house we are bound to play by these rules. Also, in India i don’t think its going to end anytime soon. This white corruption where you choose yourself to be played in the hands of your builder in search of your dream home 🙂 this is the hard fact. I have accepted it.
Hi krishna
I could not agree with your points any more. Most of the folks I spoke to are aghast for the lack of transperency here.
We can only hope for a better tomorrow 🙂
buddy skm – i have done detailed calculation for DNR – the carpet area for 1910 3bhk comes to 69.21%.
I used to often get mail for different pre-launches from a know marketing agency stating
” ‘Limited Period Offer’.” or “Please note, this offer is limited to first XX apartments only”
This time I got mailer for PLH with caption as below “Call us and Visit the Project Site Today!!” surprisingly NO humiliating caveat to buyers/investors.
I took a sigh.. Nice to see such humble flyers..
I booked Tower 21, Series 1, 3BHK.
Though they say different phases, it does not mean they are built at different times. Sales person told me that they all built together. Prices are more based on the view from the apartment.
Hi Sri
I also booked Tower 21,Type 1.. Did you get a chance to find out what is the carpet area,what is the schedule for payment etc.. They told me during the total cost would be Totalsale + 15% (during registration).I dont know whether there is some hidden charges on top of it.Can you please share your email address?
Thanks
NK
NK,
Please join Google Group and reach me through it. We can connect.
https://groups.google.com/forum/#!forum/Prestige_lakeside_habitat
Owner can join google group
https://groups.google.com/forum/#!forum/Prestige_lakeside_habitat
Any google group for PLH buyer?
Swati (plus whoever fm prestige)
I look at PLH plan. A huge land is marked as future development. It mean prestige is doing same as divyasree!!
Pls clarify wht is tht future development marked in PLH plan. If its a flop show ( at 4770), prestige will start offering discount….if price stagnate for 6 month, thn it effectively its gng down.
Cheers
You can check and compare UDS, book property only if you are happy !!
If you feel that prices will not go up for next six months then this will be the fact for 90% properties in bangalore…why just PLH ?
Consdeiring the location where small time builders are offering at 2700-2800 psf in prelaunch, PLH would have been a good investment had the price been <3700 IMO.. so to me but 4700 looks way too much..
Hi All,
I booked two flats in PLH, but I believe I was late in booking as there was nothing good available below 10th floor at 4770/- . They have come of another marketing funda varying price for different phases, but pre-lunched in same time. So, i had to go for another phase where they are quoting 5040 rs. I went ahead because of Prestige name & project will be coming in 5 years, so don’t have to go for loan. Amazing thing is that they have another phase which is costing 5400/- and people are buying that also as I had to do for 5040 Rs.
-Manish
I too had similar experience like Manish. This is another tactic Prestige and other builders are using now. Every builder for that matter comes with phased release of units nowdays but this time Prestige tweaked it a little. They too have 4 phases and every phase have different rates. For e.g. i wanted a Villa in a specific section east facing etc. etc. and it was not available in Pre Launch. I insisted that i want in this row itself and then comes the tweak. They told me that these villas are premium due to location facing etc. and hence will be launched in phase-2 at 8150 per/ sq.ft. hmm so basically you are not left with much choice but to pay premium even if u book in pre launch. I Personally was not very happy with that. What’s the point in booking in Pre Launch then and blocking my money so early? But then another way to see that is that they charged PLC (Preferential Location Charges) for an east facing less density villa unit. Same is the story with tower 19 and others in apartments which face villa. So basically you can hold you ear directly or indirectly and it will come the same.
Either say it as a PLC or Phased Launch or anything else point is we buyers have to pay considerable extra for a unit which if so called premium due to facing location etc even if we book in Pre Launch. Why don’t Prestige call it a proper launch itself then 🙂 there is no benefit of a Pre Launch in i believe. But being an end user i went ahead and booked.
Regards
Tushar
So, did you pay Rs 8150 per sqft & purchased a Villa?
Yes Bikram i did. Its an East Facing Villa with low density area within the community with a slightly larger land area than others. I took it as a PLC and in case if i have to sell i think i’ll be able to recover that PLC cost, reason i’m saying this is i was looking for a resale villa in couple of communities like Prestige Ozone and Adarsh Palm Retreat before this and i was being quoted a good amount of extra PLC for the villas facing east, north-east, corner etc. So I think it should not be a big constraint for some one buying a 2.4 Cr property and crying about 10L for PLC if he wants a specific facing or corner etc. Even apartments are priced that way in PLH as well as any other projects of other builders for that matter.
Honestly, i know i’m being charged extra and i really don’t like it. But do i have a choice? I don’t think so unless i’m up for buying my own land building my own house which again is a different ball game. There i will be staying in an independent house without any facilities and amenities
So if i have to go with a Builder who will build a township or even smaller projects with good amenities do i have a say in how they price it. No i don’t think so. Yes i do have that choice to not buy and show them my dissatisfaction but then what is the next option. Are there A class builders in Bangalore who are not doing it and i can goto them?
All in all i think we as customers are being taken for a ride and i’m not alone sailing in this boat. Also, i don’t think so even Real Estate bill will end this misery for end users. We cry or crib but in the end have to play the game and go with whatever best options we have available in market.
Regards
Tushar
>> There i will be staying in an independent house without any facilities and amenities
Not necessary. Depends on where one buys. One can buy plot in one of the Ferns layouts at ORR / Sarjapur or Campen Valley near Varthur or some other nice gated layout – they have good facilities..
But, one will need to get a house built there. Is one ready to go through that process or no – that is a personal choice
Agree. But i have seen few of these platted gated developments. Its again a personal choice but then People in India don’t follow rules laid out by plotted communities so religiously. So that uniformity in a villa project and the beauty gradually fades away there as more and more people build based on their specification (not to demean someone but sometimes based on their choice you can have an eye sore too. I saw a bright Yellow color villa which as per me was BAD in taste 🙂 but that suites the owner)
So yeah there are options but as you too said its a personal choice.
Regards
Tushar
I was awaiting this project for Villa for a really long time. I, like many others, was expecting a max 6500 price in this area given that this area will take 4-5 years to develop. However, disappointment as the builder decided to not let the residents enjoy the benefits of appreciation. They overpriced it at a launch price of 7650, apparently to avoid “investors”. To add to that, they are charging 500 premium for east facing sites (by way of saying diff blocks have diff prices). That makes it 8150. Of course, it is a prestige property so they will charge a premium. But this time, they have really gone overboard and charged the customers for prices that the area will see in 2-3 years from now. The other projects from Prestige (like Mayberry in Whitefield in a well developed area) are also around 8000 per sq ft. I think they are marketing this project really well by having created a lot of hype around this project and getting customers “emotionally locked” into the project. Getting first people to come to terms with a 6500 price, then gradually raising to 7500 at the time of launch and then slipping in another 500 rise. One gets just drawn into another 25 lacs for a 2.5 cr investment and another 10 lac for the right site.
I hope that other land bank owners in that area come out with a reasonable offer and good development as the plot rate in that area is still hovering around 1000-1400 price point.
– Amit
Kind of agree with you Amit. I’m sailing in the same boat, was eagerly waiting for this villa project and was anticipating a price around 6500-7000 and yes Prestige did overpriced it by at least 600/ sq.ft. but two things made me go for it.
1. First, when i compared with other luxury apartment projects like Brigade Cosmopolis i found it still ok (not saying reasonable but yes a lil value for money vs.. paying 1.6 Cr. for an apartment)
2. Second when i compared with other villa projects, i saw the villas available in markets under 2Cr. were actually row houses (even in prestige) where there was a common wall between two units. I wanted a Villa which was open from all 4 sides instead of a glorified apartment/row house. If i go into market for searching such a spec most villa communities are quoting more than 4 cr. for such kind of villas of course it depends on plot size and many other factors but that’s the avg. rate. (point to mention here before it becomes a debate i mean here form an ‘A’ class builder 🙂 )
So all in all, yes it is overpriced by at least 600-700 sq.ft but i believe in long run (if your horizon is 4-5 years) wthr for self or investment this excess will get normalized and there will be decent returns. So it all depends how long you want to hold. I believe if its for end use you were looking for, painfully accept it and go for it 5 yrs down the line you would not regret paying that 15-20L extra in a 2.5 Cr. property. Do your calculation and take the call.
I don’t think we will be getting a villa going forward less than 2.5 Cr. anywhere. Still i’m not saying its rightly priced but for such huge investment it will not be a matter of life and death in long run. I’m sure Prestige is cunning and smart enough and have evaluated this so very well and pushed the customers to go and commit a little extra. So all in all it all boils down to options. I didn’t find any from other ‘A’ class builder so took the leap.
Tushar
There is no Pooja room in any of the villas..
correct even i observed there is no pooja room. rather i haven’t seen pooja room in apartments as well. but if was wondering in case if anyone goes for it the place near family room on 1st floor can have small pooja room customized later. just an option as pooja room will be a 12*12 room 🙂 so ideally yes its good to have not a deal breaker if there are workarounds.
anyway i’m still in a fix to buy or not to buy as the 3150 sq.ft. villas are already gone 🙁
Srinath
correction.. i meant to say pooja room will NOT be a 12*12 room..
Srinath
did anyone check the current availability recently?
I am given an option of only 14th floor and above at base rate of 4770.rest all r premium options.It seems and starts from base rate of 5400.Did anyone get similar
I have booked couple of flats in PLH last week. I got tower 4 & tower 15(3bhk & 2.5bhk) for Rs.4770/sq.ft. Is there any google group for PLH?
mango_man ,
there is only one land which prestige officially put as future development and as per prestige that would be high rise towers for the next phase. Other land parcels in and around, PLH land belong to other owners .If you need any further information, do contact me paddy1005ATyahooDOTcom .
Hi Guys,
Before buying property, please thing twice whether you are doing right investment or not.
1) Do you know what is the land price in varthur/gunjur ?
2) Do you know how much return you will get per year if you buy a flat with 4770 per sq feet whuch will take at least 4-5 years to complete?
To my knowledge, its all hyped price and NOT at all worth to buy it…various reasons
1) we can get a decent 30×40 / 40×60 with ~2000 per sq feet in Gunjur area; If you plan to buy agricutral land (~5.5 guntas) you will get ~1000 per sq feet.
2) My advise is “Dont simply sit at home and read overhyped reviews” instead pick up your bike/car and do some ground work. Enquire village people near gunjur/varthur and check “outer pheriperal ring road” marks and search for A/B katha site with clean documents and buy it…
3) I am also a software engineer like you but take some calculated risk and buy at correct price.
I know most of you dont like to take risk and simply go with big builders with so called brand name instead of checking the ground reality…!!
Happy buying…
Ravi
Ravi,
I dont agree with ur comments. It looks you dont like Prestige brand itself. Have u had a chance to look at any of prestige constructions ????
Dilip
i too don’t agree with you. you are not comparing apple with apple rather apple with orange. you are right though that land prices in that area in gunjur village maybe be far lesser but the biggest thing you are missing here is that do you really want to pay a 30*40 site in middle of gunjur village and make your home there? There is a difference between living in a gated community with all infrastructure and facilities vs. having a standalone house.
I’m not saying having a standalone house on a land in a village is bad but i don’t prefer that. Rather i prefer living in a township or a gated community where my kids can mingle with like minded families and have some common facilities to avail.
very true…..i also think in this way…. tommorrow…our family,children..all enjoyed and got a standard luxury living which we all people want in our life….common sense
Zenisha, Ravi is not saying Prestige is not good brand. He is just trying to say do some ground level enquary and go for investment. Did you use your common sense while understanding the Ravi thing
The prices quoted are extremely unrealistic and most of the hype is created by the builder through their campaigns which give false information like booking details etc. I don’t think they have more than 20 bookings inspite of their hype. Kindly checkout for other properties around to get a better deal. Don’t get floored by any ad or rumours.
Rao
Ravi .. thx for yr valuable input , I will prefer to join you and buy guntas land than going to big builder , Can you share me if you have. I will join you if you have any plan as well .. can invest up to 15-20
I have personally seen having around 50+ booking forms with initial cheque at site office almost a week ago. They are getting booking but not the way they expected. It’s definitely not a hot cake sales like they had in some of the projects.
Me too
I am also planning to buy 1200-2000 sqft land in a gated community in Gunjur Varthur area.
Do you know some projects?
You can check Golden Serenity which is on the Sarjapur Road. It is 2km after Dommasandra while going towards Sarjapur from Wipro Corporate office.
When is the Prestige PLH project launching & increasing my misery ? Another project gone by which is too expensive & unaffordable..
Bikram – Launch date is 18th Jan.
Prestige Shnanikten took 6- 7 years to complete and they had sold Shantinikten in just 3 to 4 days, however in my knowledge that have not sold much in last 45 days in PLH.
I went to PLH and enquired the availability below10th floor they said they have nothing below 10th Floor, 2BHK, Rs 4770/- sq feet, after 2 days the called and said they have few flats on 8th and 9th Floor, this made me to think we should not believe them blindly.
Not sure if will we get a return of 15% per year of our investment or not, buying at Rs 5000/- sq feet and after 5 years with 15% return per year the price should be Rs 11500/- basic cost ( I have included 9 % VAT+ST and 9% Stamp duty on basic cost) excluding Car Park and other charges.
if we get Rs 11 500/- per sq feet at least we will get 15% return, however, the real estate run in India is ending .
http://www.business-standard.com/article/economy-policy/is-real-estate-next-in-line-to-collapse-113082800322_1.html
I do agree with Ravi comments; Every one knows that there is a difference between gated community & an independent 30*40 plot. But, there should be some meaning to the price quoted by prestige group and it should be justfied; Why do you want to put your hard earned money on hyped price which is very difficult to recover? In case of independent 30*40 plot with range from 1500 to 2000 rupees per sqre feet is still worth and it could be well justified…! Can anyone justify 4700 rupees per sq feet ????
Saju
Yes Saju; The goverment price per sq feet in Varthur is 1400 rupees. So may be 2000 per sq feet make sense in investment point of view. If you would like to stay in luxary flat/villa and want to enjoy the stay it may be worth to buy PLH…Otherwise, it NOT at all worth for investment. There are multiple ways to invest our hard earn money. It seems most of the folks in this forum are PLH marketing people rather than real buyers. Any ways, people choose thier own way…But I too strongly feel that NO BODY is checking ground reality before buying it…
Rgds
Sudesh
Agree with Ravi, I have opted out of this project because I didn’t wanted to pay more just because there is a Disney land with in the campus or there are lot of villas facing my apartment.
To me the ground realities matter examples are bottleneck which is going to happen at the varthur market, the distance from other places in Bangalore, the chances of appreciation of property after 5 years, the amount traffic while commuting between office & home after 5 years.
I felt ROI is not so good, Considering the factors above 4200–4300 per sq. feet would have been the ideal price for both buyers and prestige.
Just paying anything because its prestige is hard to imagine.
Hi!
Any idea? What is current rate going on @PLH?
How many claimed to be booked till now?
Cheers,
Same rate for Phase I .. Rs.4770
till 30th oct – 861units including villas according to prestige sales guy….
True.. even I also heard same.. some large group of aliens from Mars planning settle down there as ISRO started mission to Mars. So Marsians needed to find new habitat on earth..
Haha ROFL 🙂
Common, all builders cook pre launch booking numbers.. but this is heights of all.. 861.. find me atleast 20 buyers who are on any blog on the net.. on this blog.so far I guess ~4..
Not sure what are the current sale figures. I got different numbers from one of the sales guy I know i.e. approx 1200 apartments and 220+ villas. I don’t believe any of these numbers as these are all marketing stunt’s
PLEASE DONT COMPARE THE OTHER SMALL PROJECTS WITH PRESTIGE LAKE SIDE HABITAT……IT IS FAR MORE BETTER THAN THE OTHER SMALL PROJECT LIKE BRIGADE COSMOPOLISH AND LAKEFRONT…WITH COMPARE TO TOTAL AREA,CONFIGURATION,PLAN,AMENITIES AND…WITH DISNEY CONCEPT……ANY WAY AS IT IS IN THE MAIN ROAD PROJECT…SO ANY WAY AFTER 5-6YRS IT WILL BECOME A VERY HAPPENING LOCATION SO NO NEED TO WORRY….GO AHEAD AS I M ALSO A BUYER OF A 3BHK FLAT…TODAY SHANTINEKETAN IS APPRECIATED BY 70-80%….PRESTIGE LAKE HABITAT IS MORE BETTER CONCEPT THAN SHANTINEKATAN….
True. Please don’t compare 10 pounds of Gold with 10 KGs of sugar. Sugar is more white, is already cut into prices for easier consumption, can be taken in a spoon etc etc. above all 10 KG is much heavier than 10 pounds. So sugar will give better returns on investment.
Sugar = Prestige Lakeside habitat.
Gold = Brigade cosmopolis.
Sorry Shyamala. I couldn’t think of anything else when looking at ur way of comparing things. 🙂
This is so funny. Good one. lol
I have booked a 2.5 BHK in PLH recently.
God bless you 😀
Hi Manoj,
I am interested in buying 2.5 BHK unit in PLH. If your or your friend’s unit are available for sale, kindly send me the details to
Well Shyamala.. Absolutely, No doubt.. The project is damn good project, specs are terrific..May be, as you said, better than PSN. But whats every bodies concern is the Price.. I believe, at that price only ‘rich’ people can buy for living and/or invest $ savings. Probably that’s the way Prestige wanted it to be and btw, they have no obligation to sell at ‘cheap’.. So what about fresh Alphonso mangoes at 5k a kilo (exaggeration as a metaphor).. good but might taste bitter..!
I think all the readers of this blog would appreciate the fact what with all due respect to ‘Disney-theme’ and all that stuff, remember, end of day we live INSIDE a home and NOT in Disney Park. So one should decide how much he would mind to pay for amenities and how much for real purpose of buying i,e HOME! and To buy pretty substantial space to live with budget one can afford, than living in a 800 ft of carpet space and pay hefty TICKET price for Disney park/open garden.. Hope I make sense.. 🙂 especially those middle class (like me) who are desperate to upgrade their prestige 🙂
Two argument/ aspirations will always collide with each other:
1> Jindagee main ek baar Ghar lethe hain; tho badha hi lethe hain
2> Ghar bantha hai kushiyon se; so zyaada loan nahien; chota hee sahee; magar sukoon hai.. 🙂
Happy Buying 🙂
I think investing @4770 for a project in Gunjur Village is a gamble. A well established developer with a fabulous concept and plan. But the project is likely to take 4-5 years to complete. Unless it is likely to quote at 9000+ after 5 years, price does not justify.
Prestige and few other builders are hyping the cost of the property in and around Gunjur village.
Best of Luck for people who are planning to invest into this project for investment purpose. You can buy Shanthiniketan for 5700 per sqft for immediate rental rather than this one with a 5 years wait paying 4770 at pre launch.
For buyers looking for moving into this property, again there are many ready to move in projects at 5000 – 6000 rupees.
You can visit Disney park at florida or macau by paying couple of lakhs for a family and spend a week or two there.
Divyasree is launching their whitefield project – how does PLH compare. They had closed pre-launch at 4200. Why the difference in price?
Divyasree management were wrong in their internal supply demand analysis and confused too, thats the reason they pre launched@4200 sqft. They soon realized their mistake and immediately stopped booking after some 170 units…. you will see a sharp price rise when they launch in Jan – Feb ( As per my sources it is going to ~4700)… Now you will again compare its price with PLH…so giving a hint in advance…they are planning more units in less space thats why price is same as PLH even though Divyasree location is better.
Folks who are tracking PLH price: I don’t think it will go down from 4770, it will go only up…either after diwali or after 1 month…doesn’t matter how many units sold so far….once price is increased it will not come down….this is the least price you can get in this project….if you like the project go for it…
why are you waiting for price rise or number of units sold data……as i know no one has correct info about number of units sold so far.
With regards to comments regarding divyasree constructing more units, I believe all big developers religiously follow FSI cap available for land being developed.. no more; no less as FSI is bread and butter of large development.. So be it prestige , sobha or divyasree all will have to and will follow FSI in residential apartment project..
So I still believe if Divyasree launches 4700/ psqft offer deep value for money considering location which is as good as BLF and price @ 1000 discount than BLF.. In current market, there are good number of end use buyers who seek value for money than projects with obscene prices in the name of brand
There is no restriction that builder has to use max FSI…Builder can construct less apartments..
If you see some of the luxury apartments you will notice less apartments in more space…check Divyasree east point and ask marketing team why it is expensive and answer would be 4 factors…
Less apartments in more space + higher specifications + better amenities + location…..
nearly 3400 apartments + 300 villa in 102 acres definitely gives more open space overall compare to 13 acre (1300 apartment in Divyasree) ….Divyasree management will say 16-18 acre but thats not correct…some 4-5 acre they are showing it as open space is actually marked as future development…..
Hi Swati.. but still I have reservations as to builder would really do that in PLH.. well, one can only confirm when he gets approx UDS of land for each sqft of apartments and villa.. eg. What I heard in Augusta Golf village project land although look huge, golf course is not considered for UDS of land and retained by builder.. Any idea how much is percentage UDS of land in PLH, because that goes with intrinsic value of apartment (share of land + construction cost).. With regards to open space, how much is too much, if 50%, 75% or 82% etc is individual pref…so merely banking on open space is not justified.. and open space is also function of no. Of floors..
With regards to Divyasree project, thanks for info.. this will help prospective buyers to evaluate project when it is launched..
Agree with Kini. Won’t matter much from UDS point of view.
Golf course belongs to builder. In some layouts, garden space also belongs to builder.
Most of the builders keep club house with them anyway.
Thanks Swathi G
MK/KP – I am seeing on harsha sagar itself that divyasree will launch their whitefield project at 5800 🙁 thats 1600INR rise in 8-10 months .
1) All surrounding road are jammed in surrounding areas. Buyer should be lazy to remain in house or be on road with engine on.
2) Good for those – who do nt have car or who do not want to drive any working day. Thats the only segment of buyer which can buy in divyasree
3) Price is secondary. If price is Rs 5800/-, it will take 5 years to sale…
Cheers,
If its about investment, PSN is no benchmark, there are many projects which paid much higher returns than PSN. Also PSN saw lots of downs during execution.
Fully agree. For investment – it is RoI that matters.
Prices (for plots) have gone up by 6 – 8 times in some areas in Bangalore during same time. Apartment price for this complex went up probably 3 times.
it is somewhat like stock market. does one want to identify and pick up scripts where one can buy low and sell high (or does one want to buy high and look for even higer amount while selling. Hoping for higher Govt stimulus around the world! ). It is a personal choice
Guys,
hold your money now, Shobha is coming up with around 300 acers project “SHOBHA WEBCITY”.
I am not suggesting to invest in this all i mean to say wait for few more months you will get decent builders, and projects that fits your budget .
URL To check :-
“http://wikimapia.org/#lang=en&lat=12.893390&lon=77.703896&z=14&m=b&show=/29320284/SHOBA-WEBCITY”
I am it professional just having interest in real state.
can u please mention the location and launch expected date of sobha webcity project…
>> location of 300 acres of sobha webcity project
probbaly no where. Nothing comes if one does google search
I called Sobha..and they mentioned no such project in Gunjur. So it might be just rumor.
But there is potential something from other big builders to come in that area down the road.
Not sure if Sobha is launching anything near Gunjur but surely Mantri is. They have acquired around 80-100 acres of land there nearby Prestige. It may taken 2-3 years for them to launch this. This will further benefit both Prestige and Mantri making this as a residential hub and appreciate the prices for both.
This is all nexus of builders i guess. They can turn things around easily and know where the upcoming infrastructure is coming or approved by govt. agencies. Nobody looked at this area few years back and now its the talk of the town. With the CDP road and peripheral ring road being approved and pushed by these builders i’m sure this will be well connected. We don’t know that yet as we don’t see that in front of our eyes but these builders will make sure their interests are also safeguarded by making sure proper connectivity and amenities come nearby.
Regards
Krishna H
Sobha generally charges higher rates…much higher than prestige…you can check all of their last 2-3 years prelaunch rates….even 2 years back they were charging some 4500+ rate….current rate for most of the projects is ~5300 or above…
If you are ok with this rate then wait for sobha……those who feel even PLH 4800 is expensive shouldn’t wait for sobha (my personal opinion)..
Also there is a risk that in the mean time PLH rate will also go up.
Tushar,
1. If its end use, villa is way to go
2, if u are as an investor, apartments look to me better proposition
3. Apts easily goes for rental not villa
4, saleabilty of apts is much higher thn villa due to affordabilty n u can exit easily
Comment welcom
Agree with you on easy salebility of apartment 100% and i’m fully aware that a villa inventory over hang will be at least 6-8 months as the bracket of buyer will be less but all said i find it worth the wait. Though the time is high but so does the appreciation and rentals.
Anyway, as of now i’m taking for end use. Who knows by the time its ready i’m here in Bangalore or somewhere else in world.
But i disagree on one point, “if u are as an investor, apartments look to me better proposition”. I would rather put it this way “If i’m an investor for a long term in no hurry to dispose my investment villa is better proposition” Villa buyers will be less but so will be the no of options in market. Villa’s shelf life is more than apartment which after certain time of use (when common area gets worn off like PSN lobby and common areas) apartment value start depreciating or stay stagnant after 8-10 yrs. I find not the same in villa from my friends who own couple of them in Chaitanya and Adarsh
>> If i’m an investor for a long term in no hurry to dispose my investment villa
>> is better proposition”
i agree.
once an apartment has to be demolished after 30 – 50 years, one is left with small part of UDS.
i consider a plot (in a gated community) to be a better option than an apartment for long term investment.
you got my point 🙂 that is the same philosophy i have.
Who will worry for 50 years. Book it, sell it and profit from it!
For me Buying PLH@4770 is just like
watching a movie in an average theater by paying ticket price of PVR Gold Class just because movie is good.
or
Its also like paying 6 lakhs to buy TATA Nano just because it has got re-branded as Mercedes Nano.
i think villa are priced a little more competitively than apartments. Also, as someone commented 4770 initial bsp offer is only for select few units which neither face east/north all are west and south facing. So ideally when you end up buying a unit for end use and are bothered about facing etc. it would not cost you less than 5100 in PLH
i booked a 3117 sq.ft. villa north facing at 7650 and i found that priced a little better than apartment. Before PLH launch i was at Brigade Cosmopolis site and checked out their biggest/large 3BHK of 2260 sq.ft. the same they have built on site. they were asking 6300+300 plc so effectively 6600 for a 65% carpet area 3BHK apartment. I couldn’t help asking the Sale guy if you are charging this amount right now what do you expect i would get in case if i have sell after 4-5 years. As per him realistically you can expect 9-10% growth only. (i personally found that too high as if i compound 9-10% growth on 1.75Cr 3BHK it crosses 2.6Cr WOW wonder if someone will really buy a 3BHK at that price 4-5 after 4-5 years. Maybe- Maybe Not i can’t predict but i have my doubts.
If i compare 6600 vs. 7650 a diff of 1050 to get a villa i’m sure any day i would love to stay in a villa, it will fetch better rentals if i’m not staying and it will appreciate more than that 3BHK apartment. I ended up buying a villa.
This was my decision point maybe there are people who still would buy in Brigade Cosmopolis and maybe it works for them. Similarly, if i compare apartment though PLH seems a tad better (not much) from Brigade but i would not mind going for Brigade if its apartment and only for end use.
Why would you buy a villa in PLH for 2.5 cr when there are other options readily available today for the same price?
i’m not sure Mani which options you are talking about which are under 2.5Cr from a reputed builder. Personally for me its not about brand but peace of mind and quality. I like Sobha’s quality, Mantri’s customer service and Prestige ethics. This i’m saying from my past experiences with these builders.
Anyway to answer your query specifically.
1. I wanted a Villa (from a A grade builder) and not a Row House like Prestige itself have left with in Augusta Golf Village where the so called Villa is not open from all 3 sides and have a common wall with other villa. In PLH i got a villa which is a VILLA and not a Row House and open from all 4 sides.
2. Location. People may think this location is rubbish or not so good with bottlenecks. Though i agree, i think since the new govt. in Karnataka i expect the CDP road and Peripheral ring road will come at least in next 5-7 years (yes i know i can’t control this). Once this road is there this location will be brilliant with 4 kms connectivity with ORR which is signal free now. So on one side you are connect to ORR, other side directly towards Whitefield at Forum Value mall and upcoming Columbia Asia and on other wise Greewood high and DPS so in a radius of 5-6 kms you may have decent facilities. I know and not living in dream here that all this may turn out as i’m thinking. But based on my experience in RL land/property are bought in anticipation and rest is your luck.
Let me know if you can suggest me better options and i would appreciate your help and maybe change my decision.
Although I haven’t checked them out myself, it seems that Sterling villa grande or Prestige Ozone might not be too far off from the 2.5cr minimum that PLH is quoting for villas.. considering the availability date as well.
i knew for sure you would mention Sterling Villa Grande as i could not think of other option you must be mentioning 🙂 Yes its available starting 2.3Cr
If you don’t take it personal Mani i was expecting a more concrete reply from you. Its easy to question ones decision and say there are so many options etc. why this but then i have taken it after my research of last 6-8 months not in a hurry. If you are saying there are options available with all due respect please be thorough with your research as well. Instead of saying i have not seen personally but there are. Pretty Easy!!
I believe in saying once i have done my homework and have been at ground level in market instead of reading launch info on newspaper and blogs etc. anyway please don’t take it personally. I know you just commented based on best of your knowledge.
Also, last point, i clearly said my decision point was looking for a villa with a ‘A’ grade builder. As per my info Sterling comes nowhere as of now.
I did checked Prestige Ozone and talked with a Seller as well but could not come to a deal also i don’t have the full money to pay now so i wanted some breather to pay the amount.
anyway i respect your suggestion.
Whats the plot areas for the smallest and largest villa?
Does anyone have a breakup of plot area and builtup area for each of the villas?
In 2.5 cr, you can get a very decent villa in Skylark Arcadia project, thou location wise it maybe of the same type as that of PLH but it is definitely much closer to CDB areas and IT parks than PLH.
tushar:
what is the plot sizes of villas? any info? thanks
what are the plot sizes for type A, B and C villas.
i asked them but didn’t get any info. thanks.
I have been told that the prices are going to get revised within 3 days after pre-launch announcement which had happened more than a week back now. The funny part is I am still getting quotes from channel partners to buy PLH at 4770/- .
Looks like Prestige here has done the same what Ishant Sharma did in his last over.
Please stick to your reputation, go ahead and revise the pre launch price beyond 4770/- 🙂
Happy Selling!
Rs.4770/- going to be there for a few months. You may not get the choice of your flat as days move on.
Plot sizes of the different villa types are
Types A – 2700 , Type B – 3300 and Type C – 4000 SQFT.
no doubt Villas are better in PLH as compared to brigade cosmopolis if some one can afford a villa and ready to go for a village kind of location. Same logic applies to PLH vs Brigade cosmopolis apartments. My analysis shows Brigade Cosmopolis is much much better option as compare to PLH, why ? Here is the analysis…
1) We are comparing Brigade 6290/ with Prestige 4770/ which is not a fair comparison. You compare with Brigade Prelaunch (5990+ PLC 100) to prelaunch PLH (good 3BHKs are being sold at 5220). Its 900 Rs difference. All of us are thinking only per square feet difference that’s a problem…Here what I have analyzed in terms of what extra price (900 rs) is going to give in terms of benefit…
a. Pricing: Several folks are thinking that Brigade is charging more …but do you calculations ..after all we are engineers . Project (Brigade) with 2.8 years possession ( from now on, assume 6 month more delay) is much better than project (PLH) with 4.5 yrs possession and 6 month delay). 2 years difference means PLH rate is not 5220 , with 2 yr extra interest its going to be 5900+ if more delays and probability is 99%, your rate will go up 6000++… so you guys are doing calculation for today’s price not for future . Think about it and do your own calculations.
b. Architecure – you look at Brigade Cosmopolis flooplan of 2260/2180 with PLH 2280/2321… There is a big difference ..2260 floor plans are open from 3 sides and you can not compare Brigade with PLH on that. Beauty of 2180 floorplan is that you can make it a 4BHK later if you want.
c. House : Several folks do not even care for house, I have not seen a single person talking about the specifications. You go and look at the model flat of Prestige and compare with Brigade ( in terms of tiles/ fittings), you will see a big difference there as well. Brigade is giving Marble flooring/Laminated wooden flooring in all bed rooms with high end fitting in bath rooms etc. If you go and look at PLH you will see worse quality bathroom tiles. Living tiles are still better 800MMx800MM. If you are looking for place to live then PLH but if you are looking for house then Brigade Cosmopolis is the place.
d. Location : Huge difference in terms of location. Brokers are selling PLH locations as 4KM from Forum mall and Columbia Asia hospital. But if you compare Brigade cosmopolis its only 100 meters ..there is no comparison on the location.
e. Place to live – Do you want to stay in a village or posh location of Whitefield? Prestige is a place for investment where actual project will be completed in 10yrs (with full occupancy).
f. Township : Prestige is better if someone wants to live in township kind of environment.
So overall when I see pricing/location/house/specification/possession/ I feel Brigade Cosmopolis is much better option for living, but you guys do your calculations.
overall agree with mohit in apartment vs. apartment comparison between PLH and Cosmopolis but not fully, IMO:
1. Brigade Pre Launch was for people who only gave money to Brigade 1 years in advance and not walkin..so basically you have already invested with Brigade (even if they are going to take 3 years for completion which we will see in time) so effectively you are invested for 4 years not 3. So we still need to compare 6290 vs. 4770.
2. I personally checked the 2230 floor plan and the sample apartment. But i found that even smaller for a large 3BHK size as offered forget about making it a 4BHK. Yes, its open from 3 side but the carpet area post calculation with sale guy came to 66%
3. Totally agree on marble flooring, laminated wooden flooring is available in PLH too. But yes Marble Flooring is a premium but not such a big decision influencer as that can be modified in future as well.
4. Location is the USP here. No arguments on that. But then i would take a location which has prospect of appreciation (if i plan to live only 5 years down the line) instead of a location which is already appreciated. But yes, i do get tempted to buy at a location like this.
So, overall if you ready to wait for 5-6 years and also need time of 4 years to pay off the amount PLH to go. If you are sitting on cash and Location is the most important for you Brigade is to go for.
Take your call 🙂
Hi Tushar good questions but let me clarify some of the points…
1) Brigade Cosmopolis prelaunch and launch did not have much gap (only 2-3 months) similar to PLH ( launch is Jan2018).
2) Calculate the carpet area …I have calculated multiple times ..Brigade is giving 71% ( I don’t know why people are putting false information of 65-66%) . Prestige is also giving 70-71% (Prestige is giving better than Ivy terrace/Jade pavilion of 66%).
3) PLH is not giving any wooden flooring. You are thinking that you can modify Prestige specifications later…you have to change the whole house:). If you are ready to change the specifications then 2 big issues 1) Its similar to creating your own house then why do u want to buy a readymade flat ? 2) It will cost you a lot of money because Prestige is not going to give you the difference, you have to bear the absolute cost. Go and look at quality of Prestige shantiniketan…some of people who really care for good house changed wooden flooring/bathroom tiles (was given bad quality), they are asking for 20L more for resale. For Investment house quality does not matter as people will look at outside world thatswhy 4 of my frnds invested on 2BHK. You will find mostly investors in PLH. I am not saying Prestige is giving bad quality but just informing you folks that Brigade specifications are much much better than Prestige.
4) Location : I also had the same thing in mind that Whitefield area has already appreciated but then some more thought came in which is very critical…1) Brigade Cosmopolis is at the posh area of Whitefield… there are so many areas got developed but Indiranagar is Indiranagr….Koramangala is Koramangala..what are the per square feet rates in these areas 12K/sq feet ? You will see similar rates in Whitefield.
5) Awareness – Brokers are marketing PLH because they get people in bulk but if you poke them and tell your analysis they will say that is 100% correct, not a single broker told me that PLH will be good for end use ( after telling my points)…they can fool people only if you are not aware of multiple things.
6) Premium Segment : You ask the right property consultant and utter a word Brigade Cosmopolis ..they will say its a Premium project. Problem is that we do not have premium category projects in Whitefield that’s why we are not able to compare Brigade Cosmopolis with other projects. You go and see in Bangalore north you will see several Premium projects.
so overall I see Cosmopolis is way better on multiple things and Prestige is only on township.
I’m neither in favor or against of Brigade or Prestige so i’m just expressing my experience which i had at both sites.
I differ to agree with you Mohit. It is entirely wrong that Brigade Pre Launch and Launch had a small gap. Brigade started accepting so called EOI from last year onwards for this project which was not called Brigade Cosmopolis then. it was Brigade Begonia or something. so ideally, yes the investment time period is both in same and the comparison of 6290 vs. 4770 is correct.
Secondly, i was at site and i don’t want to disclose the name of sales guy or Brigade but he only did the calculation and same out with 65-66% carpet area and i even appreciated him for being honest. I still appreciate Brigade that they told that honestly.
So not sure why i am being accused of spreading wrong info. 🙂 because its not me but Brigade guy told me that the carpet area will be 65-66% in this project after me asking him why even a 2200+ sq.ft. looks small in size.
anyway that being said, don’t believe in agents what they say, they will always have some vested interest either in prestige or brigade…apni akal lagao. and take your time and do your research…which everyone should do.
I would still say PLH villa of 7650 vs. 6290 of Brigade Cosmopolis ..PLH is any day better.
In Apartment, as i said, if you are sitting on cash go ahead with Brigade but if you need time go with PLH.
And i totally agree with you on PSN tile quality, its bad and any one decent enough would have to get that renovated before making it livable. But then eveyone with some knowledge and history of PSN knows why that happened. PSN Prestige did some mistakes but were graceful enough to not charge buyers for their mistakes.
They launched low and gave the full contract to one builder and then they took too much of time in getting clearances and NOC’s during those days new NOCs were introduced and hence they took lot of time to negotiate on those etc. Anyway long story short, they did cut corners post 6 years when they were completing the project and realized that they have under charged, cost have escalated both in material labour and govt. expenses.
There are builders who would increase the price mid way saying our cost increased as we need to take 5 new NOCs which were not there when we launched the project. Prestige didnt
But that is no excuse of compromising on finishing and quality. I’m just saying that most people know of these who know of PSN good. I hope they learnt from their mistakes. Let’s see
But i would still say if Brigade was giving that Premium flats at around 5700 also i would have gone with Brigade but not at 6290 they ate all the room left for end user and investor 🙁
Folks,
We have to make sure Prestige builds apartment buildingson Steel structure (pillars) instead of Framed RCC -due the height of apartments at 19floor, 27floor..etc.
Read below thread from a blog:
If properly designed, I don’t think that high rise building would be risky. However there are three things to be observed. First if this high rise building has car parking facilities in the ground floor supported by columns only then the design of column must be compatible to withstand the earth quack. In Gujurat most of the high rise building collapsed due to inadequate design of such columns.
Secondly, I was bit worried by the fact that the building is designed as per Zone-II as Bangalore falls under Zone-II category. Many designers prefer to design one category ahead of the zone the area falls. Ideally such a high rise building should be compatible with Zone-III specifications.
Third & important one is quality of workmanship.Many buildings fails due to sub-standard workmanship despite a robust design & constructed by big companies. Real estate sector is yet to follow a strict quality control system. There are very few company who adhers to quality control & rest other focus on speedy construction at the cost ofquality.
It is really hard to say which magnitude is fatal & which soil condition is more damaging. The hard & robust soil base may induce huge vibrations compared to soft soils. In such a case a smaller magnitude would build cracks & building may collapse.On the other hand soft soil may absorb much of shocks & may result in to settlement only allowing time to escape.
The building reffered is 19 stories. I donot know whether thisis built on concrete pillers. If it is a framed RCC structure surely I would find my self uncomfortable. I would suggest buildings more than ten floor must be a steel structure to withstand earth quack & wind pressure. However many high rise buildings have survived bt many too collapsed.
I would have an honest suggestion. If your planning for apartments,do not chose Buildings more than six floor if it is a RCC framed structure. If you can afford go for simplex or duplex houses. The steel structure buildings are entering in to India & perhaps started in Mumbai. In Bangalore this technology will reach with in ten years. Then you can fulfill your dream to live high. You can chose even 100th floor as I always belive that these are much safer.
However the above is my personal opinion.
I really like your optimism. Forget influencing construction technology, try getting this builder to change a comma in the sale agreement and tell us how that conversation went.
Heard from folks Prestige is using some technology that is suitable 50floor complex. That’s great, if that is fact. We have to see what materials they use for columns and floors, what design they imply w.r.t Sesimic impact..etc.
Since no clear regulation there, it’s on the onus of the builder to build at super safe quality. also on customers like us to demand the info.
>> that is suitable 50floor complex.
Who owns the terrace of each tower? Have heard / seen cases where terrace was owned by builder and they built additional apartments later on
Here is my conclusion :
1. PLH actually pre-launched at min 4770 – 5440 rs ps sq f.
Most of high price range flats are facing good amenities while lower range flats are not placed so lucrative place. Prestige has done very good calculation on this. So, if you go for very good villa view or amenities view you may have to shell out 5000+ psf. I have seen other class A builder charge PLC charges max of 150 but it looks like instead of PLC they actually raise per sq f price itself by 300-400 psf.
2. Floor plan details given are for unit plan. Actually I did heavy exercise in microsoft power point to get it aligned according to tower position. Most of 2.5BHK and 2 BHK ( not done for 3/4BHK) are having Kitchen in North -East direction. I am not strong believer of VASTU but looks two basic things, Kitchen and Toilet should not be in NE direction and Door should not Face in South Direction. This has discourage me to go for PLH flats which I liked.
3. Builder has asked to submit 3L/4L checks ( for 2/2.5BHK resp) along with “show interest” form. They will actually allocate desired unit later on with No assurity of getting same flat as requested. I dont understand this logic. Regulator bill should come soon in interest of customer. I personally dont like this idea in absence of all verification, details on payment schedule, T&Cs etc how someone can believe all these facts on project
4.Project has 4 CDP ( city development Project) passing through it. PLH will not build any fencing to protect each phase ( 4- phases created by these road). If CDP comes into existence, security will be issue and all Huge Noise on 105 acre project will be big flop because in such case project will get divide automatically in four phases( at least plan shows that).
5.To me Price is very very high looking at project completion date – 4-5yrs approx. With world economy not in good shape, country’s economy in bad shape, every where in country ( except Mumbai and Blore I think) property prices are dropping / al least stable it looks to be costly affair.
6. With so may builders coming in nearby Whitefield and nearby areas there will be lot of supply and we may not get that much of appreciate if think in investment point of view.
With all these and much more smaller points I am thinking of Opting out of this Project.
Despite the current regulator for Builders passed by union cabinet, There seems to be no change in the attitude of buyer. I have visited the site and seen people simply rushing up with the agents even though the project is not yet officially launched by the Builder who is supposed to comply with the provisions of the said Bill,
For the benefit of the customers , Here is some of the important points of the said bill on which all customers should ask the builder clarification before poring their hard earned money in to the builders pot.
The Cabinet on Tuesday approved Real Estate Regulatory Bill that is expected to bring about a sea change in the business practice of real estate developers. Implementation of the same will take time as it involves land and land is a state subject. If you are looking to buy a property, here’s how you will benefit when the Bill becomes a law: 1. Developers can launch projects only after getting all relevant clearances. 2. Developers cannot offer any pre-launch sales without the regulatory approvals. 3. Authorities have 15 days to approve or reject a project. 4. Construction to begin only after the developer’s website has displayed all details of the project including receipt of clearances. 5. The buyers are entitled to full refund with interest in case of delay in projects. 6. Realty developers will have to maintain a separate bank account for every project to ensure funds raised for one project is not diverted. 7. It will be mandatory to keep 70% of the buyers’ funds in a separate bank account to ensure timely completion of projects. 8. Developers cannot take more than 10% of the advance from buyers without a written agreement. 9. Builders will have to use photographs of actual site for advertisements purpose. Failure to do so will attract a penalty which may be up to 10 percent of the project cost. 10. Repeat offenders may land in jail.
Read more at: http://www.moneycontrol.com/news/business/real-estate-regulatory-bill-how-will-it-protect-you_890882.html?utm_source=ref_article
Thanks
B Yadav
Hi Guys,
This comment is for the end users not for the investors.
If you will look around then I can make sure you will find a ready to move in (Prestige, brigade) apartments in resale with the same cost (All inclusive – 2 bhk ~80 and 3 bhk ~100) or may be lesser. So in my believe if you want a flat for your own use then go far a resale or going to be ready projects. In some good project investor use to sell units in good prices.
I did the same and got the 2 bhk(1352 sqft) ready to move in flat in 75 lacks(all inclusive) having all modern facilities. And this is Prestige one and 1Km from ITPL.
~Regards
I visited the place.
Too many confusion even the sale folks are not clear
1. The whole project is divided in 4 cluster. CPD (proposed public road) road is disconnecting one cluster to the other.
2. Each cluster has a club house. I am not sure if you call its a township. It may be a collection of couple of projects. If a public road going thru it, whats about security of complexes as there is no seperate wall for each cluster.
3. Sales folks are collecting expression of interest with cheques. Look like time has come when ministry of urban development should issue a circular to ban this. This is not a fair practice. But you know in India, customer does not know what is rights and therefore, builder exploit it to maximum extent.
4. Even sales folks has NO clarity on rate and which tower open for booking. Rate announced Rs 4770/-. But you ask him apartment for different cluster, he will tell u different rates. They are just doing something….Its creating confusion to buyers.
5. Prices is for sure inflated. Prestige will struggle in sale-ing at this price. There is not much scope of further rise in rate. Some sale-ing always happened in name of brigade which go just by name and does not have idea of location n surroundings.
6. Road from forum junction to PLH is in very bad shape. Too much traffic…Current road infrastructure is poor.
I am still not sure to book or not to book…
Comment welcome
Also there floor plans are completely screwed up for apartments. They have done a good job in PSN but not the same case in PLH.
I totally agree with your comments.
We all customer should stop enquiring with builders for at least two three months. Builders will have to reduce prices…. prices are high because of customers like us…
i don’t think its going to happen here friend.. i’m a mango man and have been extremely confused..i have been searching for a decent 3BHK for end use but i do consider investment and ROI as well..as who knows if after 5 years i’ll be able to use it and be here to use..so i see all angles.. here is my analysis.. i have been searching for last 6 months in areas like sarjapur road, whitefield,, orr,, hennur,, hebbal everywhere kind of :-)…for me location and accessibility are important.. if u see my post below..i thght nobody would buy PLH..but the more i research the more i get confused and lesser the choice..for e.g. B class builders launching project after project in the range of 5300-5500 on hosa road.. stupid road it is…not even a water tanker can pass in parallel with a car…seeing that i wonder if this is the right price…wht prestige is asking..am not defending them…rather all builders r playing with market..demand and supply..and creating a market for them self…other guy will now say see sir prestige has launched at 4770 i am giving for 4200.this gives him a valid ticket to charge us tht amount…so all said and done…i have understood one thing…go out in market…search for 6 months..6 years or whole lifetime..this nexus cannot be broken..and builders will keep increasing the prices…we poor end users…in the end..stretch our budget in search of a dream home and roof above our head and end up buying..unless we wanna stay all our life on rent in blr.. which IMO is again inflated…
so am giving up…either PLH or somewhere else…but i will take the leap…will see wht happens…
hi, nice to see ur comments..buit are you sure there are agens ready to sell PLH for 4200 pet sft..
having CDP road in the township is not bad rather good…and as per BDA gated community are required to leave place for road for today to tomorrow and is not legal to have a community closed without any space for road..so we can cry about tit today but that it the future…also..as long as security and controlled access is taken care of…i personally feel good to have a CDP road access 500-800 mts from my home instead of how it is in PLH where sometimes people have to drive 1.5 kms in car to leave their wife/children on gate to PLH…
again am not defending…this is my point..maybe many people wud prefer a 120 acres closed gated community…and are ready to walk/drive 2 kms for petty stuff…and i respect that as well..their money their choice 🙂
Thats true rohit.i like ur comment. I have booked in PLH after all assessment since two month.
@Vikas83, I am also looking to confirm booking in PLH.. is there any buyers group?
Have created prestigelakeside @googlegroup.com. Can join the group
I have also booked an apartment at PLH. Do we have a buyers group on any forum?
Prestige has done a Brigade/Shoba here… Thats it.
What I mean : Usually Prestige gives buyers something to get some appreciation unlike shoba /Bridage who eat up the appreciation benefits and factor in two years later price at the beginning only.
One more point to add : “Resales are very very Difficult than you think ” , people say my prop apprecaited this much , that much etc.. but the fact is ‘where are the buyers ?’. Just post a dummy ad in Sites and see the response.
One of the channel parterns who got shocked about the price in PLH discouraged many buyers to invest in it. As per their research and forecast, getting buyers at even 5000-5500 psft in next 3 to 4 years is bleak as the minimal appreciation too got eaten by Prestige with NO scope for appreciation benefits to buyers. No worries people are aware of this fact and got to know response worst for PLH which is a blunder made by Prestige for their lifetime….. Go on with other projects coming in the vicinity like VDB Azure etc for INR 3300 running at discount now…. [Though honestly i am an individual buyer FYI]
Hi
am actually considering vdb azure but little confused with its proximity
Pl advice
Prestige will have tough time sailing with this project, its easy to fool couple of people sitting overseas and seeing the master plan and locality between the sarjapur and whitefield, but I am pretty sure anyone who might have visited the site can pay this much amount not even a rookie in bangalore real estate. 5k still commands very good deals in and around whitefield, there is no point moving so far in gutter with just prestige brand.
Definitely the price is not worth for an end user as well as investor. Also not an expected price for pre-launch. I think there is no point on waiting etc, Prestige will not change the price for sure.
I am out of this project.
agree…there is nothing here for an investor nor end user…with 3000+ units available i wonder what will be the resale scenario here… the buyers will have 100s of units to chose form and there is no commanding price a seller can demand…be it a end user who wants to exit the property due to any reasonable reason like change of city country etc. or be it en investor..
i rather think villa will fetch a much better return and commanding position due to less availability..even through they are prices at least 500-600 more they would fetch decent returns… but how many of us mango people can even dream of that…so…the rule applies here as well..rich becomes more rich poor/so called middle class become poorer… if anyone has the funds to invest in villa go for it…that will surely give decent returns…and will be worth the money 4-5 years down the lines
Here goes my personal opinion to all people who would like to look the option of PLH.
@ Rs.4770 in that area… one should be out of their senses to buy in that area.
Look at the Master plan. 120 acres of so called project is going to get partitioned into 4 sectors by the proposed public road which is going to pass by right through the middle of the project.
this is not the project worth investing at this price , specially area….more then 3500 /sq ft , not at all logical….Hugh land are available on that area , lots of project are in pipeline….
Got the price of 4470/ sqft and 15 floor rise from the 1st floor onward.
Agent was telling about the future of gunjur area is very good after 5 yrs about 6 lane road infront of the property and bla bla bla.
I think they are are quoting the future money (rate that will be in 5yrs time) today, what will be left for investors if they got the smallest 2bhk in 67 lakhs.
No body is going to take that flat around 80-85 Lakh.
Also i can get some good projects near Ferns Residency rates around 4100-4500.
I am out of this marketing propaganda called Lake Side Habitat.
Price is starting @4770 and every floor is 15 rs. One of the channel partner saying the price will be increased to 5000 in a week time. :-))).
>> increased to 5000 in a week time.
Isn’t that late? It used to get increased in few hours..
Are you sure its 4470? I got the price as 4770
the best price in this location is Rs.3000/-. There are many projects around that area is Rs.2900-3300/- per sft. Prestige brand value is not going to pay my EMI.Bangalore is a market of Oversupply. There are so many Flats are unoccupied and unsold outskirts.Day is not far off, when bubble is going to burst.
I was doing some calculation. If I am going for ready to move in house, approximately 20 lac will be saved. For 3 BHK rent running price is ~30 K & tax saving on EMI gave me calculations for 20 lac. It means I should go for ready to move in house in 1.2 crore inside city with all great amenities (mainly Adarsh Palm Retreat). It is not away from city and everything is approachable. Paying 1.2 crore will worth compare to paying 1 crore in this project. Earlier I was thinking about this project but now seeing the projected price. I am going ahead with ready to movein house in Adarsh Palm Retreat.
Hi,
Please search mouthshut / net for reviews of Adarsh before buying..
Thanks,
Prakash
I am living in Adarsh Palm as tenant… I see facilities and happy family here. Not sure who wrote Mouthshut comments… But overall this project looks cool.
I have been silently reading all the discussions and have been weighing out my options whether to invest in PLH or not. As I was not convinced with the negative & positive comments here, I decided to visit the place today so as to make up my mind. The other reason to visit the place today was the pre-launch price announcement which happened yesterday,
Below are my findings & thoughts;
1. PLH is located on State Highway and is around 3.8 KMs from Forum Value Mall. (Not that far, contrary to my expectations)
2. Varthur lake is not totally dried but it was dirty
3. Varthur lake would be around 1.5 KMs from PLH
4. The road to PLH, State Highway 35, is not that broad. Though there were lot of buses & trucks plying on the roads
5. At some places(one example varthur sabjee mandi) road was narrow and with traffic running from both sides the movement was slow. (It was difficult to overtake a running bus/truck as there was hardly any space left)
6. Though I heard from the agents at the PLH site that there is a plan to widen the road but I was not convinced as I could hardly see much of space available for widening the road.
7. With the help of agent calculated the entire price of 2BHK on 2nd floor (including khaata, Water, Electricity, registration, Car Parking etc) and the figure was 71+ Lakhs.
8. Went to another project very close to PLH from a normal builder where the construction is ongoing and is expected to complete in 6 months(April 2014), they were quoting 3750 per square feet. Cost of 2 BHK was around 48-50 Lakhs (do not remember exactly)
Conclusion:
I am opting out of PLH. Reasons:
1. Cost of 71 Lakhs is way too high for a flat in Varthur
2. I could foresee traffic problems when so many apartments opening up in that area.
Prestige is building 3500 Flats and around 500+ Villas. I heard even few other builders are planning to start their project. Looking at the amount of big projects coming up there and number of people moving in, the traffic of 3.8 KMs to Whitefield main road would be a mess on working days.
3. The reason people are expected to pay more is its a big project spawning in 100+ acres. I do not see that as an advantage 🙂
4. The other reason why people buying PLH are expected to shell out more money is people who bought prestige tranquility have gained lot of profit and PLH is expected to cause the same kind of stir for no reasons. Looks like in this case prestige is determined not to let people have the same kind of profit as in case of prestige tranquility.
5. Also gave a thought to have PLH as an investment and rent it out. I felt it would be hard to get tenants due to heavy traffic & high rent which I will demand to recover my investment of 71 Lakhs :).
6. I do not see too much of appreciation in this property at 4770 psf due to not so great IT market and gloomy world economy.
Considering pros and cons, I would have invested in PLH if the entire cost of my 2BHK would have been in range of 60 to 63 Lakhs.
Bye for now…happy investing….will surely catch you all at the some other property page on HarshsSagar.
82% open area and 5 club house and Mini golf and cricket pitch and nice connectivity to sarjapur road and whitefield… This is causing to bit high price.. I am going to invest in this….
Dear Vishal,
Have you really visited the place, the road to PLH from Whitefield, State Highway 35, is not that broad.
At some places(one example varthur sabjee mandi) road was narrow and with traffic running from both sides the movement was pretty slow. (It was difficult to overtake a running bus/truck as there was hardly any space left). The road being being State Highway is always crowded with trucks and buses running.
Thank for your feedback Sanjay. Even I visited this place and have same opinion.
Thanks
Ranjit
Shocking Price has been decided and @4770 p/sf and + 50 Rs on floor rise…. NRI’s , Channel Partners, Brokers Won …… Disappointed.
@Tabish – small correction on floor rise charges you mentioned. it is 15 Rs.
i like it. it will discourage people to speculate in the market and typically end-users (or those sitting somewhere else in the world) will go for this. Some countries invest in technology / start-ups and are thus way ahead. Most of local investment seems to in real-estate. if real estate is priced at a rate where there is not much to gain by investment (like in some other cities of the world), it will enourage end users to go for it and others can possibly do something more useful with their funds. different school of thought..
I am very disappointed with the soft launch price. I was expecting it to be below 4500 🙁
Price is too much ……
Not only us but some of the channel partners are shocked too. Of course they will not commit it unless you know them personally.
Their advise is just relax & wait for some time. You will get good deals in the same property. Till then hold on to your money & earn some interest.
Yes its a win for channel partners, and agents as get huge commisoin, yes it might tbe hyped price, but still agents will buy it, LSH is only for investors, not dwellers, they are creating artificial price hike, since one buys at a certain price he cannot sell it below that price, but still NRIs and agnets will buy it, and some hefty person will buy and will wait for half a decade to completion those who wants for personal use should look else where.
its not 50 Rs for floor rise, it’s Rs 15/- per sft
The Villa prices are listed between Rs. 7650-8000/sqft. There are many good things that have been said about the project. On the other side, I heard that Varthur Lake stinks. The area may take time to develop fully. Real estate prices may go down.
Can someone share your thought if it is worth buying Villa at Prestige Lakeside Habitat? If so, are the prices comparable to other Villas in the area? Some examples?
Surely this is not the project worth investing at this price and waiting for half a decade to get the possession over. I was waiting and hoping for them to come up with a decent pre launch price.
lol …
I can just say .. all the best ..Prestige..
I think 4770 plus Rs 15 for floor rise, rate is too high and we need to wait for around 5 yrs . The Real Estate (Regulation and Development) Bill, 2013 is very much likely to pass in next year winter session which should help us.