Prestige Falcon City
Prestige is set to pre-launch their new project on Kanakapura Road to be called Prestige Falcon City. The project will offer about 2500 apartments in 2, 3 and 4 BHK configurations. Prestige Falcon City spread across approximately 50 acres will consist of 5 blocks of 4 towers each with each tower having G + 31 floors. The project will also include a Mall as a commercial element.
Prestige Falcon City Options
- 2BHK (1175-1200 sq ft)-Booking amount-3 Lacs
- 2.5BHK (1300-1350 sq ft)- Booking amount-4 Lacs
- 3 BHK (1600+)- Booking amount-5 Lacs
- 4 BHK (2700+) – Booking amount-7.5 Lacs
Prestige Falcon City Location
Kanakapura Road
Prestige Falcon City Price
Price range-5800-6300/- per sq ft (Only for 1st 250 units)
Car parking-3 Lacs
Premium charges-150/- per sq ft
Floor Rise-15/- per sq ft
Expected allotment date: 3rd May 2014.
Prestige Falcon City Investment Plus Points
- Proximity to Metro on Kanakapura Road
- Proposed Forum Mall
Is Prestige Falcon City a good investment?
[polldaddy poll=8003419]
Is there a owners whatsapp group for Prestige Falcon city? If so, could you please share the admins contact details.
There is a Telegram group for Falcon city with over 500 members. There is also an Apartment Adda portal for the same. If you’re an owner pls register yourself and you can participate in the discussions.
Thanks for the response, DN.
I am an owner in Prestige falcon city and would like to join the owners group. I searched for the group in Telegram, but could not find it. Could you please share the name. you could also share the details directly to my email id (vinodkr@gmail.com), if you dont want to post the same in this public forum.
Looking for 2200 sq ft 3 bhk house in Prestige Falcon City. If there is anything kindly mail to patil_savitha@rediffmail.com
I am interested in buying 3BHK 1800+ sq ft. lower middle floors 5 – to – 12, read to move Jan 2019. If interested in selling please email me the price & location details shakeelib@yahoo.com
Any 3BHK available for resale?
I am looking for 1603 email me at newnavs@gmail.com
I booked a flat at Kew Gardens Bangalore by Prestige Estates ( hereon called PKG) thinking it would be hassle free exp and good to buy in. My agony started soon after booking. all terms and conditions are skewed in favor of PKG. No clarity on possession date, ceiling height, GST credit, etc etc.
GST Credit
Though I booked in 2016 and GST got introduced in Jul 2017, builder increased my taxes on bimonthly EMI by 2 % citing new GST law. Govt directive is very clear to not increase prices of under const properties. However, PKG being a listed company is going against the anti-profiteering clause of Govt of India and charging at 18% of construction which translates to 12% of total value up from10% pre-GST. No accountability for Input Credits.
Payment Terms
The payment terms are not construction linked and scheduled bimonthly. Though banks need construction updates to release funds – PKG wants us to push banks to release funds.
Ceiling Height
Being in close proximity to the airport, prestige was unwilling to share the ceiling ht we wd get inside the apt. every person individual buyers interacted with got different nos based on their mode of the day.
Alto v/s Merc
when we asked too many queries post booking – we were told we paid for Alto and expecting a Merc. This language is kind of demeaning their own projects.
Channel partners
They have engaged multiple Channel Partners which benefits them. When we book initially through them – we are offered incentives like a discount of 50Rs per sq ft, no floor rise etc. However, this discount is not upfront. We first pay to Prestige who after sitting on the amount for some time ( until agreement) – and are promised cashback post that. However, this cashback never comes. It would be foolish to believe that this scam is run without the consent of PKG. Bookaprop, Proptiger, etc are some names os such esteemed partners. Even after 2 yrs of booking – buyers are waiting for this cashback.
Worst CRM
I do not know why they need a CRM team – there is nothing to manage except forwarding emails and making buyers wait for responses.
Nishrah, Aamera, Monika, Somali, Harshad, Sujit, Subh – we dealt with all of them – they are hell-bent on breaking buyer unity. We dealt with all of them.
Unprofessional Agreement
Initially, we refused to sign the agreements as the line items were skewed in their favor. They were asking us to get furniture from their preferred vendors (at exorbitant rates – we all know). They agree to strike of that clause and made it optional by issuing an addendum to the agreement – which was so unprofessional that it did not have the name of the signatory.
These are some of the pain points that have gone into my buying of an apt. I wish no buyer have to go thru this. Anyone to buys an apt pl consider above before buying.
One thing is very clear here – whether you buy from a big builder or small – any city in India – they will talk sweet until they get your money. Once booked you ar on your own.
write to me separately on this subject.
Anyone re-sell 3 bhk in Falcon city around 5800/sqft , looking to buy immediately .
Is this project approved by BBMP? Has it got Environment Clearance? Any known issues as it’s right on the lake bed of Konanakunte lake?
Looking for resale “Type L – 1603 sq.ft. in PFC”. Those willing to sell, plz drop mail to “vijay_20112011@hotmail.com” with below details:
Building/floor – ? persqft expected rate – ?
Hi Vikalp Kumar you may mail me detail on vikalpk@gmail.com
Is anyone planning to sell 2 or 2.5BHK? Please drop a mail to ke_vijay@yahoo.co.in.
Hi Anyone interested in selling 2.5 bhk east facing only at falcon city? pls drop email at pravinadd1@gmail.com
Looking for resale “Type L – 1603 sq.ft. in PFC”. Those willing to seel, plz drop mail to “vijay_20112011@hotmail.com”.
PLOT NO 33263 ,1603 SFT,3 BED ROOM 26 TH FLOOR FOR SALE
I am looking for 3 BHK in Prestige Falcon City from genuine sellers. Those willing to sell,could you please drop me a mail at p.siddaraj@gmail.com with your Apartment details.
Anyone selling 2172 or 2104 sqft, let me know
Anyone selling 2200 sq ft and above pls reach out to patil_savitha@rediffmail.com for immediate sale
i would like to sell my 2+study on 30th Floor. call me on 9945060262.
I am planning to sell the flat booked in prestige falcon city as I am moving out of country.
Please reach out to me if interested amrita.aryana@gmail.com. East facing 2650 sqft, 4 BHK, B5T1 Tower.
Is it available at Rs. 2650 per / soft ? If yes I can buy it immediately 🙂
Our East facing 2689 sq ft, 4 BHK flat in B5T1 Tower (Premium Tower) is on 7th Floor, balcony facing towards Swimming Pool & Club House. It is available at a base price of Rs 6750/sqft, deal can be closed in 1 week time. Those interested can email me at amrita.aryana@gmail.com
Our East facing 2689 sqft, 4 BHK flat in B5T1 Tower is on 7th Floor, balcony facing towards Swimming Pool & Club House. Actually this flat was handpicked by us for personal use with best location (in terms of best view & vastu) among all towers of Falcon City. The only east facing door & tower whose balcony is facing towards scenic beauty of pool & club house. Even height of 7th floor is optimum so that one can sit in the balcony and enjoy without getting disturbed by activities on the ground floor. We selected this unit after lot of R&D. We paid Rs 6200/- per sq. ft including floor rise & PLC when we booked this unit in Apr-May 2014. We are looking for net Rs 7200/- per sq ft (slightly negotiable) including floor rise. Those interested can email me at amrita.aryana@gmail.com
Hi Sandeep,
Is the apartment available still?
Hi I am looking for a 1800 3BHK on this Falcon city on higher floor.After the site visit builder says whole tower is sold out.Not sure if this is true…….I am still waiting if there is any resale as this is for me as an end user.
Hi,
Anyone interested to sell their 3BHK at launch price please drop me the details at my id srinee.k@gmail.com
Anybody interested in buying 2,104sqft apartment in B5T2 ? Do let me know.
Hi
please share your personal e mail. and phone number
mine is amalrao@yahoo.com
Many thanks
Hi rsri,
Please share the details to geeta.ikya@gmail.com.
do let me know your coordinates. Mine is gangadhar.salimath@gmail.com
hi pls drop in a mail if ur still plannng to sell at leyarao@gmail.com
Hi, can you share details in which floor, main door facing etc and quoting price?
Hi there,
Anybody selling type R in mid floor? please sent your response to rajrini2000@yahoo.com.sg..
I am planning to sell the flat booked in prestige falcon city as I am moving out of country.
Pls reach out to me if interested krambhat1@gmail.com. East facing 1800 sqft, 3 BHK.
Why is everyone leaving such a beautiful country like India or it it just a style to get apartment sold ?
Is such a comment really wanted here? We could do without sarcasm here please…
Because people see potential problems in Prestige Falcon city, on similar line of Mantri Serenity
Vinay, Can you share what problems are you referring to (in Mantri Serenity)?
HOW MUCH RATE ARE YOU QUOTING…?
Is your flat available?
Hai could you share more details on ashirwadshetty@gmail.com , I am interested in buying
I am intending to buy an apartment in Prestige Falcon City. The problem I have is this:
This property is next to the lake bed of Konanakunte lake. With the recent drive of demolitions of properties next to lake beds, we need to be careful.
Can the builder provide a copy of the village map(british days) and confirm that the survey number 35 does not lie on the konanakunte lake bed as per the british days map?
I am really nervous as I feel looking at the google maps, this is right next to the lake??
Prestige Falcon City.
Rumors that they have approval problem.
Furthermore, the hand over may take more than 4 years and will go beyond 2021.
See shantiniketan more than half unsold/unoccupied.
2500 apts, chaos at Konankunte, mall crowd, then school, 31 floors, high maintenance charges, and if one does the projection to maintain all the green, lawns, parks for the next 15 years, 25% of salary will go towards it.
Who is going to maintain 7 buildings, 28 towers, 2500 apts, painting, repair, water, plumbers, electricity, you need a full time army to maintain.
Better look for projects of maximum 400/500 flats
As a matter of info, in another project there are 5 buildings , each building 200 flats, Each has formed their own association.
Mall may not come until there is interest by anchors.
How can we have Forum Mall, Mantri Mall and Puravankara Mall ( opp to prestige) all in Kanakapura Road. which anchor will show interest and all with in 10 minute walkable distance
Visulaise, how difficult will it be for all 2500 residents to come together !
regards
Dear Mr. Rao,
Please get your facts correct. Prestige shantiniketan half of the unit unsold ???? really sir.. I am staying here and you being in dubai seem to know more.. Let me tell you the fact. the landowners units are available in a few numbers and prestige has larger dimensions units but they are hardly any in number..
The chaos which you are visualising is more in your mind… There are multiple entry and exits to the project. There is a metro line within 1 km radius… The land title is clear (Khoday’s). So what chaos are you talking about ????
Being an investor in prestige projects we take pride that alteast they arent like some builders who launched a soft launch in kanakapura rd, near nice and then after 3 months sold the land to another builder…..
@ Amit – Only people who has got black money can hold on the apartment without selling for years..
So please do not consider others as fool. If you got blackmoney invest in the RE and you can wait for one or two decades..
Fancon City.
Amit
You should maintain some decency while commenting. Please learn how to communicate in public.
2550 apts, avg 4 persons in a flat. 10,000 ++. Cars/Two wheelers. Entry for flat is seperate.
Imagine 10000 plus people in and out.
Then the school
Then the auditorium
Then the mall
Who is going to pay for the huge aroma gardens, pools, painting 32 floors,
How to fund such large maintenance when owners are out side
We are staying in a 400 apt complex and half the time 25% is vacant and we have a huge task of follow up on maintenance. The owners never leave their address. Thus what we had to do is to have 3 associations one for each block.
Tenants do not pay up properly.
Maintenance of such vast projects is always a chanllenge
Konankunte cross is Chaos
You are going to have Mantri Mall and Purva Mall in 1KM radius plus this forum Mall
Is this not sufficient to create traffic bottle neck
Amit I think you are either a Channel partner of Prestige or one of the Sales guy.
Are you aware that more than 25% of original booking have been withdrawn and they are also offering discounts.
What I mean is that large complex are too much to manage
Amal
already konankunte cross is jam packed with so many new apartments and mall, no wonder if it becomes the next silk board signal.
85 to 90 laks for a 2bhk in konankunte is ridiculous.
Falcon city is expensive. They are selling by projecting Mall etc. If you read RBI Governor news of today, there are lakhs of unsold flats and big builders are holding as they have holding power. Presitge shanthiniketan where my friend stays says collecting maintenance is a chanllenge.
There is no transperancy. Prestige was running the maintenance, and they were using the diesel generator of the apts to power their IT park near by. Now it is being handed over to assn.
2500 apts, collection of maintenance is a challenge. for a 4 BHK maintenance is projected at Rs 10,000 per month effective 2018, then imagine the cost for say next 20 years
Please wait,
Godrej Properties are coming up with middle income group housing at Kankapura road, They have already bought 18 acre of land parcel from Puravankara who were supposed to come up with spanish villa.
Market is overheated, unsold flats, If you approach Falcon and show seriousness they give off record discount.
Pl do not buy for investments, you may not get return, But for own use then OK
regds
The main issue with such high rise buildings, 7 buildings, 4 towers in each block 2500 apts, see the amount of money for maintenance. Who will form the association. What if even 25% of the people do not pay. Will each block have a maintenance. Always better to go for small projects of not more than 500 apts
easily managible.
who wants mall etc
Just immagine the mammoth problem of running association , more than 200 security persons, their salaries, bonus, finding new agencies, garbage,water, cleaners, etc
Immagine the high cost of fuel to run the generators for power back up and lifts
Presently the diesel is around 50-75 rs see in 15 years time, what will be the cost
Think practical and not fancy
The cost is too much for that area
regds
amal
Hi all,
today i visited Prestige Falcon city the price they quoted was 6099 and 5899.
with this a 2BHK apartment in Prestige Falcon city including registration cost me some where around 90 to 95 laks. 95laks/1274Sq Ft which comes to around RS 7500/Sqft, which is exorbitant.
I would truely say that the Flat is not worth 95laks at that area. Falcon city doesnt have anything special to quote that high.
cost is calculated for 26th floor since they claim all 2BHK flats are sold out till 26th floor.
*** Nitesh Ceasor Palace and Purva High lands are value for money.
@ purva high lands you can get a ready to occupy 3bhk 1750 sqft flats at 70- 75 laks.
Purva was available for 8 years ..in Ready to Move in..They were offering me at 2800 rs/sqft..though it is near to Nice road..but of no value..its not a value for money..its a loss of money.
Nitesh – always delays and you may or may not get the apartment..:)
Hi RK,
Can you please share your email ID or contact number. I need to know your experience about Purva Highlands. I am being offered 3900 psft
Any body planning to buy a 1204 sqft flat? Please let me know.
I meant to ask anybody planning to SELL. I am interested in buying.
Hi i have a 2.5 bhk Presige Falcon city 1379 sq ft on 9th floor with a good view east facing flat to sell pls call me if interested 7676997535
Please do not sell now. Wait for another one year, Prices are expected to increase by an average of 50% from the current price. If you wait for just one more year, you can make some good money.
yes, marketing guys are saying same, hold on for another 1 year.
This area is going to become better than Singapore, dubai, bay area together, and apartment prices will touch 50-70K per sft.
yes rajesh that is true.. Bangalore city will be called by only Singapore …and india will be called as America 😉
Interested in the apartment. Which tower/block? what is the price quoted.
hi,
i have a ground floor corner 1800sqft apartment ( same as model apartment) in tower 2 that i want to sell. if anyone is interested, please contact me at 9945534000
this projecct got launched recently..why are u selling this..
Cos most likely we may move out of country in few months
@tina
Even if you are moving out of the country, it’s worth to not disturb the investment. Ask any “informed” investor on this forum, and they will tell you how prices are going to DOUBLE in next 3 years. Needless to say, no where in the world will you see RE investments growing at this rate.
Of course, I am assuming that you are not planing to buy your air tickets with the money collected from the sale.
@tina – why sell your dream home..its very difficult to make a quick money these days in real estate. You can look at all the articles written in the newspaper..there is a limit
to price increase..within hours builders increase the price with artificial demand
all real estate investments are in hold by the people.only if you intent to stay then its worth the price else its waste
I can invest the downpayment of 20 lakh rupees in Mutual fund and earn a decent return of 10-15 %. Here i can liquidate in a day..but in RE its not possible,,
Better advise people to invest in markets which will give over a period of time give decent return. Real Estate business itself is not a transparent and is highly corrupted..there is no fair pricing in this segment.
Ram
I don’t know about others but we bought home to live in and not investment. My entire family is very investment savvy and we know very well about avenues to invest and real-estate isn’t even in our list.
I’m only considering selling the apartment cos if we move out of country we are anyway not going yo live there…if I need to we can always buy another one in this very project at a later time..
Can you let me know the pricing ?
Vishy
You can call us on the number provided if you are interested
Any one having 1204 unit there? I am interested ….
Anyone want to sell 1842sq ft or 1861 sq ft in prestige falcon city? I am interested…
I have got 1603 unit conatct me on 9740164510
anyone interested in selling 3BHK 1800 Sq ft apartment in tower that was originally priced at 5499?
Are you looking for one, then email me your details on sagarsheikhz@email.com have got few options.
do you have 2.5 or 3 bhk 1800 sqfeet available now? what is the price ? and which tower and floors available?
Yeah, I want to sell. But I will give it at 5799, not 5499. If interested, call me.
which floor is it on? direction
Hi Siddaraju, could you pls email me the details of your flat which you are planning to sell?
shree.das@gmail.com
siddaraju, whats your phone#?
I am interested, Please do contact me on: dhari.gowda@gmail.com
I checked out a 2 BHK with base price @ 5899. I wanted to check if any of you here were able to get a discount from the builder/agent etc. If so, what is the best that you can get? Also, can anyone who already bought an apartment here send me your email address to srivatsan_b@yahoo.com so that i can follow up with a few questions on this project.
you may post your questions on https://groups.google.com/forum/#!forum/falconcity,
You may join google group meant for this project to get latest updates and to interact with other members. http://groups.google.com/group/pfr_blr
The link/group you posted here takes you to the thread for “Prestige Ferns Residency”. This discussion thread is about “Prestige Falcon City”.
FYI: There is a yahoo group for owners.
To subscribe, mail to: prestige_falconcity-subscribe@yahoogroups.com
Thanks for pointing out, here is the link for falcon city.
https://groups.google.com/forum/#!forum/falconcity
Issue is with investment mentality ; otherwise one can book a flat in Brigade Cosmopolis or Prestige Jade Pavillion or even Sobha Habitech for around 5900 psqft and they will be delivered in 1-2 years . People who are doing it for only investment are relying on assumption that “ok it’s a bit high but let me invest for it will fetch me some xx lakhs more after 4-5 years ” . I will then recommend Heeranandani Glen Gate for it is ready for posession in 2017 and at rate of 5700-5700 INR currently, Hebbal is also a far better bet than Kanakpura road.
The rates quoted for these pre-launches are absurd; let me just post a well known fact here i.e. majority of flats in Bangalore are unoccupied . Most of the inflation is due to investment by non residents and not because of demand for a home. This bubble will burst and prices shall bottom out , invest in land not in flats .
With expected growth in the economy as tracked by the market movement and general uptrend in sentiment – believe real estate will move upwards.
The prices are hyped up. A project opposite to that is costing rs.5250 per set , century central which is under construction. So I don’t think 5800 is a good pre launch price . but there are people who buy it even if it is 7000 rs per Sgt and they have there own reasons to justify….
You seriously can’t compare the specs and finish of a century development Vs a prestige development
I have been hearing this for over 10 years now and only ended up finding price increase every year, exception is 2008. The case you mentioned is not specific to bangalore alone, its typical with any city, every city has non-domestic investors. Look at fundamentals and if you believe in them then buy or opt out but don’t rely on speculations. my two cents…
Hi
5800 is quit a large price for pre launch ….
Considering such huge price ..r they providing any additional amenities or additional interiors in these flats …
How about this? In chennai, a new luxury project has been pre- launched by a builder Greata – http://www.greata.in/ – in adambakkam which is 20kms from chennai central. Pre-launch price is Rs.8500/- per sq.ft So looks like this phenomenon is not just in bangalore but in every city. India’s less space for its population is driving it. More over indians (even the NRIs) penchant for real estate investment is adding to it.
Prestige is coming up with Prestige North Point in Kammanahalli as per their investor presentation. Happened to find a link with the Architects Elevation of this project in the link below.
http://onarch.com/project/13
San
Location is a major plus point for Falcon city, added to that is Metro connectivity, Forum Mall, ISKON etc., Also Kanakapura road is getting widened by BBMP. In addition, Prestige commands brand value.
Price is resonable at 5499 psf considering one of the project by a Major builder at same stage after 1.5 years delay is 5490 psf. Also other builders quote 4800 – 5200 psf in the area.
As per the info i have, around 400+ booking have happened on 3,4th May’14, big size 3 BHK tower is sold out.
But a lot of projects like Century central, Nitesh Caesar’s palace, Mantri serenity, Sobha Forest view, Brigade omega are under construction in the vicinity which can lead to an oversupply situation. Falcon city project is also big 2500 + flats. Delivery is a bit stretched 4 years + 6 months.
Overall I am going with Falcon city.
The location is the USP of this project. Reputed builder. Sometime between 2018-2020, Metro phase 2 must be ready and folks must be able to take a metro from here to Electronic City or ITPL or Airport. But I would suggest that the pre-launch is only good for investors. If you are an end user, I suggest going for a project which will be completed anytime within a year.
Secondary market is already facing the heat – http://economictimes.indiatimes.com/markets/real-estate/realty-trends/property-prices-crash-30-as-buyers-hold-on-cash-till-election-verdict/articleshow/34750435.cms
I am also personally experiencing it where I am trying to sell my 10 year old apartment.
>> metro from here to Electronic City or ITPL or Airport.
Other way to look at this is that neither elec city nor itpl nor airport close to this!
Yes, electronic city, itpl and airport are far from core residential clusters like jp nagar, jaya nagar, banashankari…but that is what makes these residential areas attractive. at least these are the areas which will be last affected by water scarcity. there is lot of green cover only in this part of the city. connectivity is a problem now but not once metro phase-2 is completed. any urbanization expert will say that improve connectivity so that people can stay and commute. that’s how a city can sustain its growth.
btw, i stay in bellandur – close to my office – and booked an apartment on this part of the city. i didnt opt for any projects in south / south west bangalore because i see commuting as a major issue for next 5 years especially when the metro phase 2 work starts. already rent is stabilized or come down in this part of the city. but drastic changes will come by 2020 if govt is able to plan and execute the transport infrastructure projects.
just to clarify, i booked in a project which is under construction and possession will happen within a year. this is for my end use.
If you have booked an apt in this project please subscribe to google group meant for owners. https://groups.google.com/forum/#!forum/falconcity
Harsha, please do not block this message, this is meant for the benefit of owners or this project.
Hi , since yesterday the prices are revised to 5800 per set…..too much….
finally results are same as their earlier project, prices are way too expansive, atleast rs. 800 psft more in comparison to the market scenario … i heard sobha is planning a project in same vicinity @ 4800 .
Went with lot of hopes. Disappointed with floor plans. They don’t have utility space on the outside for any apartments other than 4BHK. Drying of clothes will occupy majority of the lone balcony space.
The carpet area efficiency is poor too. No one answered the question clearly. I tried adding up the spaces and it was just less than 62%. Prestige is dubious not to link payments to development. So have to pay everything in 3 years and wait.
I agree that the project is priced aggressively. However when i went there yesterday I saw a huge crowd of people. A prestige GM was telling me that more than 400+ units were booked on Saturday and Sunday. From my perspective some things that make this project attractive to me are (There are a few other projects on kanakapura road that share these attributes):
1. Its right off kanakapura road
2. There are planning a Forum mall on this property. if that happens the prices for all surrounding properties will spike. The entire area from Banashankari, banergatta road and even Jayanagar and JP nagar will find it attractive to come to this mall).
3. The metro line is very close by. The Prestige GM who was around was telling me that they are working closely with the metro authorities to have a metro entry and exit right in the mall basement itself.
4. There is a lake right by the property. If the water in this lake is recharged properly there is some assurance on the ground water supply in this area.
5. prestige has a decent brand name overall. All builders in Bangalore have bungled on delivery time lines etc.
Pricey. Possession in 2019 mid ..it should have been launched @5000 🙁
Was waiting for this project for sometime & booked a 3BHK this week for personal usage. The base rate till today atleast was 5500 (yes, it was lower than speculated !) & 15 INR floor rise. I live close by in a Tier 1 builder project (1.7km) where resale rate is 7300-7500. I love the area & made sense for me !
Phase 2 will have 2 more blocks taking total flat count to 3300+. Yes, its a big project & will have its own set of challenge (road/traffic, water etc). But looking @ floor plans & overall package, especially the way bangalore as a city is evolving – made sense to me. fingers crossed !
Possession is Dec2018, I would peg realistically @ Early 2019. Inaugural function @ site today & massive crowd (very amusing & I actually thought for a moment there maybe some free food stalls !). Heard a Prestige staff mention 1000+ booking incl waitlist (lotsa bulk booking from NRI & channel partners). Cant be verified.
P.S. I am not a prestige staff/rep. Just been a regular reader of the blog & sharing info.
7650 per sft….which one????
@girish: congrats on your booking at prestige falcon city.
BTW, the apartmentadda for PFC is here:
http://apartmentadda.com/prestige-falcon-city
if you want to subscribe to this..
Visited the model apartment – impressive specs and layout plans. Booked a unit 🙂
The price at first seemed quite high but actually on thinking about it… this is a 4 year project and the payment is also spread out across 4yrs. We would acutally be blocking this rate for 4 yrs from now (when the rates might be in the range of Rs.8000/sqft??)
There is also a yahoo group for owners.
To subscribe, mail to: prestige_falconcity-subscribe@yahoogroups.com
I think this project is coming up on a land where hundreds of Neelgiris trees were planted, and as you may all know that neelgiris trees are best known for drying up water tables. I am not sure. But just a thought. Will this effect the dwellers in the complex in future? Will they have water massive scarcity?
And the price. What on mind did people from prestige were thinking at the time when they had a meeting for pre launch of this project.? “Its prestige…people will buy??? NO.
Its people’s hard earned money. People will think 226 times instead of 120 times before buying. And decide its not worth even if its prestige.
For your Kind information those trees are not neelgiris trees those are silver oak trees next time please check it before you write your comments on the social site..definitely am not a customer am agent only..
Hi , I think the price is exorbitant and all be better to buy from nitesh or any other project on outer ring road or sarjapur road where u ll get with much lower price…waste of money…
Yya..the price is very high…I thought of investing then I thought its better to keep it in bank..ll get 10 percent interest….2 bhk with 5800 rs price will cost about 80 lakh and in kanakapura with a max rent of 20000 will get 2.4 lak per year..with 80 lak we get interest of 8 lak per year…what say guys…..
calculation is similar in many areas of Bangalore.
if one buys a 2-bed room apartment and rents in ORR / whitefield / sarjapura / elec-city, rent is still around 20 k (+/- 25%)
to buy apartment to give that for rental?
thought that phase was over some years back
@Suresh, in your quick back of the envelope calcuation, Your are discounting the property appreciation, tax benefits, that one could get among other benefits
Hi , I also think that the prices are really high. We will get Nitesh ceasar palace which is ready to move in with a price of rs.4900 per sft. And the nitesh land lord is selling at 4200 per set. It will be a really funny place that too on kanakapura road. A person who is buying here should have some extra money….
hi vikad , i also think the same thing….prestige thinks that we are all fools and dont know anything….harsha can you please send the contact nynber of nitesh and mantri serenity si that i can speak to them….its a disaster to buy from prrdtige…
Ya right vikas….and this time I heard all the brokers are giving 1% discount to customers…even after that its a foolishness to buy in this place….as such prestige lakeside habitat is a flop project and investors have got negative returns in that….
Hi , the price is 5500 per sft….very higher…the project opposite to this , century central is costing 5200 per sft now…its under construction…and was launched at 4300 per sft…
As I am in software firm I don’t think any point in buying in kanakapura give giving this exorbitant price….purva west end near silk board is far better option….
@Vikas : Do you have some contact details for Nitesh caesar palace land owner ? I will be interested in buying if it is around that price.
The construction cost of a 2bhk here will be approximately 12 lakh and add land cost, fittings and bribes, it will come to 15 lakh, since it is a flat the land cost is divided and hence less..So you pay really 5 times more.Let the drama continue with their cronies backing them.As long as there are gullible buyers this will continue but how long ?
Tata under its brand sells Manza and Aria in India and also sells the Land Rover and Jaguar brands that it owns, at a higher price which is even above the Japanese Brands in India.
With your logic stated here, Land Rover and Jaguar should sell at the price of a Tata car like Aria or Manza. But it does not happen. Don’t waste time towards those which are not in ones reach but keeping ourselves informed is always good. May be one day one can reach there.
Like wise why do you want to buy a Prestige home if it is not bracketed in your pricing range mentioned by you. you have options in the market available. There is a builder selling flats 2 km from silk board from 18 lakhs to under 30 lakhs, he is not a tier 1 builder but builds the flats close to the budget highlighted by you.
I don’t subscribe to the pricing of Prestige but it is their business and they have priced their product accordingly. We cannot expect them to come to our level, if we don’t see value we should look for place where we see value. If they sell it is good for them and if they don’t sell it is bad for them.
The tier 1 builders price the product targeting a particular segment in mind and one may or may not fall in that segment.
This arguments were there 10 years back when the prices of Tier 1 builders were 20 to 30 lakhs, is happening today and will continue to happen after 10 years also.
san
Most of the people don’t buy Land Rover and Jaguar for resale (or investment) but for driving on their own. Similarly, high priced apartments should be bought when one wants to “live” there.
Just my opinion.
[1] Cars with special features command premium.Imported cars cost more also.
[2] I mentioned the cost of construction and not the price at which I want to buy.I don’t mind paying 200% more but not 500% more.
[3] Many builders provide same amenities but don’t charge so much.
[4] The brand name should not make anyone demand insane amounts.
[5] Such charges make every builder demand high prices and disturb the balance of market which is detrimental to the housing industry itself.
[6] What special thing does Prestige add ? Diamond studded [a la Tata watch] flats ? Gold enamel ? Silver sink and taps ? Fort knox doors ? Flying houses?
No the same concrete structure and some expensive fittings.Then why such fancy prices?
Ten years ago 20 to 30 lakh price was huge and today 80 lakh is huge.[income level and inflation]
Can you sell that 20 lakh apartment for a fancy price today ?
That 80 lakh flat is not easy to sell in case of need at decent profit for some time to come,perhaps never.
If you want to live there buy anything at any cost as it is your money.But think whether it is worth spending so much in that area and advantages of that area which make it worth.
How many such flats are sold is a secret never revealed by the builders.Only hype is created to lure gullible ones.
Please remeber, NO WATER in KANAKAPURA ROAD!, neither ground water nor Kaveri water!
That to be for 2500+ flats!
It will be like staying in fools paradise! by paying 1 Crore+ at the end!
Hi All,
I really do not understand why the prelaunch price can be so high.
Flat cannot cost 80 to 85 lakhs with monthly maintainance more than 5K Rs
Cannot imagine the Return of Investment.
I feel the prices are to high for common man to purchase such property.
Regards,
Deepak
Price is not high just for this project. Prices are high overall for all tier 1 projects. They are just asking for current rate.
These days prelaunch doesn’t come at cheaper rate, builders are charging market rate even for pre launch.
Consumer gets benefit only in terms of time (3 years for payment) and after 3-4 years you will get a 2bhk in 85 lacs when market rate is 125-130 lacs.
When annual take home salary can cross 20 lacs for many families, why not apartment can cross 80-85 lacs ?
Monthly maintenance : it includes water, 24/7 power backup and some 10 security guards and 10 maintenance staff.
You cut on luxury and it will go down to 2-3k.
All, btw, the launch price today was 5499.00, not 5800.
So, maybe it’s not that bad after all? Comments?
Very Funny price
Will be seriously surprised if a single unit gets sold at these rates.
by the way prestige has sold around 600 units.
Learnt today from Prestige marketing that 770 units were sold from the towers opened for sale.
Any feedback on this project ??
Should be good especially if you plan to live there
Invest only if you can wait till 2020 to get possession. Don’t believe any builders offering a 3 year time frame for possession unless it is a single or 2 tower project.
San
Given the launch of Sunrise park was almost a year after pre-launch, would suggest to wait and watch. Prices of Sunrise park have gone up by around 200 rupees per sq.ft and would definitely be worth investing there than here.
Another pre-launch from Prestige? Really, they have quite a many projects already in pre-launch or where construction has not yet started. It is futile to expect the Govt to pass any regulation…with the elections, they are busy collecting money from these big builders ! Maybe it is high time the general public teaches them a lesson…I also feel that one of the reasons for these pre-launches is that these builders need money to construct their projects and with the market condition not good they are trying to block the money from us in the name of pre-launch. For this project, even the pre-launch price seems high !
Price seems to be exorbitant. It generally takes anywhere between 3 to 4 years for completion. So, even avg pre launch base prince is 6000 psft, add these 4 years will add around 22% interest ( as payment is spread over, taking average of 4 year, which is equivalent to 2 years of full payment).
Is is not leaving any thing on the table for the buyers.
Not worth the investment.