Salarpuria Magnificia is a new luxurious high-end apartment project by Salarpuria Sattva group. The project is located on Old Madras Road, Bangalore close to Salarpuria Big Bazaar Nova.
Salarpuria Magnificia would be developed on a 6.45 acre plot and will consist of 244 apartments in three blocks and One Commercial building
Residential Development Spread in 3 Towers: Tower-A, Tower-B & Tower-C
- Tower- A: 4 Flats each level, G+23, Total Flats: 88 Nos. (80+4DF+4PH)
- Tower- B: 4 Flats each level, G+23, Total Flats: 88 Nos. (80+4DF+4PH)
- Tower- C: 4 Flats each level, G+18, Total Flats: 68 Nos. (60+4DF+4PH)
- Commercial Tower with Built-up Area: Approx. 2,66,000 Sft. spread in G+13 Floors
Salarpuria Magnificia will have Three residential blocks of G +23, G+23 and G+18 floors each comprising various sizes of 3 BHK flats with just 4 apartments in each floor.
Salarpuria Magnificia Location
The project is located close to the outer ring road towards BIAL & Marathalli as well as the metro station at Byappanahalli. It’s right next to Royal Hermitage Apartments and the Tin Factory Industry. Higher floors will offer an excellent view of the Beniganahalli Lake right across the road.
Salarpuria Magnificia Pricing
Being a luxury apartment project the per square feet charges of 5290 / 5790 / 6790 are quite high.
Salarpuria Magnificia Pricing
- Booking Amount -Rs.10,00,000
- Floor Rise Premium Rs. 25/- for 4th to 10th floors, Rs.35/- for floors 11to 16 and Rs. 50/- for floors 17 to 22
- Stamp duty and Registration costs extra
- Maintenance charges at rupees 150/sft
- Air conditioning & Home automation at 375/-sft*
- KPTCL & BWSSB charges at rupees 160/sft
- Double Slot covered car park (one behind the other) will be charged Rs.5,00,000/-
- E-stamping of agreement at 0.1% payable before agreement in favor of Sub Registrar, KR Puram
- Premium apartment (facing courtyard) is charged Rs. 150/- extra per sqft.Floor
- Height Premium is not applicable to Pent Houses
Take the poll
Other luxury projects you may be interested in
By when will Cauvery water supply be available in the apartment? Are all residents depending on borewell or also need to use water tankers?
I feel it is a very good option of investment and living in heart of the city with an upcoming metro station close to Salarpuria Sattva Magnificia. Though at the moment traffic at that junction is a bit of concern. But the best part of this traffice is , it is slow moving traffic,will never get stuck on that traffic. However State Govt has adopted a pilot project with the assistance of JICA to decongest critical junctions by installing QLM sensors across the Bangalore city (approx 31 junctions), including M G Road, Old madras road etc.Which will reduce the traffic snarls by 30%. Which is a very good news for city’s harried Motorist. Most of South East Asian countries are already using this Japanese technology to maintain a smooth traffic.
ROI of Magnificia is expected to be 60-70% more by the time Metro works gets completed. Well connected to All mejor Hospitlas, Schools, It Parks, shopping Malls, etc. Worth Investing before rate/sq.ft touches to 10,000-11,000/sq.ft.(rs.8400/sq.ft is on going price) Good light and ventilated apartment with all modern facilities ,No common wall,
The present price @ Magnificia is Rs 6490/sft. Recently I have visited the project, its looks really elegant,the floor plans with the dimension stating form 2200sft looks very spacious, with no common walls. The best part is in terms of ventilation, they have either east opening balconies or west opening balconies. Over all the project plan is good, looks attractive.
yes, to approach the project is bit of difficult by taking u turn, it will take another 15 mins extra. But, by considering the upcoming metro & road expansion work, i believe the road will be widen enough & bust stand will be shifted to some other place, so that we could reach the place early.
From my point of view its very good luxurious project compare to any other project on OMR within central part of the city.
I do not see much discussion about Salapuria Magnificia on OMR in any forums. Any reason for that. Secondly this project does not have any open Balconies, all the balconies are Kind of full length open glass doors. I am not sure if a house without any open balcony is advisable to buy. Entry and exit gates are also chaos currently. Any views/ advice on this.
Neither I see any comments about this project at all. It is quoted at 6670 + additional. I don’t see any luxury components in the plan, design or the amenities. Has anyone booked in this and does anyone think it is anyway a worthy project.
Is this really that much? There are many builders around with 5500-5900 price tag. Why should someone pay for such noisy place. What bells and whistles they are providing.
Did anyone booked an apartment in this project? They have revised the prices to 4950 psft couple of months ago which still seems on the higher side compared to the ready to occupy flats available on the outer ring road by reputed builders. Any opinions?
A week back I visited the site. Locaton is wise it is good, Pice wise quite costly. Not worth investment even though you forsee some appreciation.
Dear PS, I beg to differ. The property is located just around 5-6 km from MG Road and hence the location is not quite comparable to outer ring road. The prices have to be compared to the cost of new projects and capital value of old projects in the same area.
New projects
1) Purva Seasons – Located within a km distance, but inside CV Raman Nagar. The point to note is that Seasons is not located in the “good” part of CV Raman nagar – there is a marketplace with a narrow road which is prone to severe traffic blocks before you reach this place. hence i would tend to say that location is more attractive compared to seasons. Specs are comparable. Seasons has a sigificantly higher price point of 5950. Magnificia seems very attractive compared to this.
2) Purva Midtown – located right on the opposite side of the road to magnificia, but a little bit inside and approach road is not so good (compared to magnificia which is by the main road). Also while magnificia is a luxury project, midtown is a budge project and there is no comparison in terms of amenities or specs. Compared to midtown price of 4200, again Mangificia seems atractive.
Also may be noted that there is a 6 year old Salarpuria property , Silverwoods, with a one km distance, which today has a capital value (per sft) around 25% more than magnificia’s cost, and Silverwoods is not quite comparable to magnificia in terms of specs or amenities
All in all, the prices look very attractive.
Thanks Ashish for your post, which appears to me written by one of the marketing executive of Salarpuria group.
With all due respect, I’ve the following points to say:
1. I admit your point that location wise, Magnificia is better than the other projects mentioned by you who are asking for crazy prices (may be 5950 psft or more) in that area. But in my opinion, it’s really difficult to find an individual who will buy a 2 bed for 85 lacs in CV Raman Nagar with his hard earned money.
2. Magnificia project is lacking one important point which is the ‘area of the apartment’. The minimum area of a 3 bed apartment is 2200 sq feet. If the apartment area is somewhere between 1700-1800 sq feet, the total cost of an apartment will drop down by 20-25 lacs making it more affordable luxury 3 bed apartment and again affordable to the IT people’s earning power of around 90 lacs to 1 crore in Bangalore for a 3 bed (ofcourse there are exceptions with fat salaries but they prefer buying villa in 2.5 to 3 crore rather than a 1.5 crore apartment).
To make this project a sucess, either IT industries should increase salaries of people or salarpuria should cut down their prices 🙂
Dear PS,
I am not a Salarpuria marketing executive; on the contrary I am somebody who has already bought an apartment at Magnificia- I have just listed out the rationale which I used in arriving at the decision to buy. Regarding the 2 points you have mentioned
1) There are people willing to pay even higher prices (per sft) for good properties by reputed builders in the area – ie Salarpuria Silverwoods, Brigade Paramount etc.
2) At a lower area, in my view, there would be no differentiation from the numerous other projects across bangalore and would defeat the very positioning of “luxury”. And there is definitely a segment which can afford a little more than a crore, but cannot afford 2.5 to 3 crores. Also, the location – 6 kms from city centre but not close to any of the major IT hubs (with the exception of bangmane tech park) would imply that the target segment is not the IT professionals but professionals in other areas.
Another point to note that there are only 250 apartments as opposed to some of those 1500- 2500 apartment projects, which would be tough selling at higher price points.
Regards
Dear Ashish,
Congrats on your new home.
I am sure the price is a bit high but good living definitely comes at a cost. My doubt is, are we going to get a good living; secure, class, elegent, spacious,homely…and above all is the pricing justifiable for what we are getting.
Please could you also let me know which are the other properties you considered along with Magnificia. Is Shobha Habitech comparable to Magnificia? Also, very keen to know if you are seeing the property as it develops and how do you find the quality of work and progress?
Company is still quoting 5200! Wonder why as PS tells they revised the rate to 4950.
Regards,
Gimmy
Dear Gimmy
I think the price has been hiked to 5200 (from 4950) from this month.
From whatever research i had done, Salarpuria seems to have a good reputation of delivering on promises, so I’m hopeful of getting something close to what is promised (the specs are really good).
In terms of progress, I think around 4 floors of structure are complete (based on what i can see from outside), which is a little bit behind schedule, but nothing to be worried about.
I considered only purva midtown and seasons and I have outlined my reasons for choosing magnificia earlier. I wanted something which is fairly close to the city centre, and could not find any other area where prices where within reach (for eg Salapuria’s luxuria in malleswaram has a going rate of 7400!).
Regards
Ashish
Ashish and all,
How is the project now in 2014? Is it on track? If there is delay, how much is it? From the OMR it seems only the towers are ready, when will it be livable? How is the quality? I ask this to understand Salarpuria group. Please help. Thank you.
Apart from the high price Salarpuria Magnificia has a huge bus stand and crazy traffic whole day long. The traffic must be experienced there from 9am – 11am & 6pm-11pm. we cannot see the Salarpuria Magnificia entrance due to traffic at most times with plenty of buses parked.
If the budget for a large Luxury apartment is in the range of 1.2 crores it make sence to also check Pashmina & Brigade Exotica (Reputed) aswell apart from Purva Seasons & Salarpuria Magnificia. Investment appreciation seems to be higher.
Asish,
Salapuria’s luxuria in malleswaram going rate of 7400 ??? i guess Brigade Gateway which is near by is going for less that that.
The flats in Salarpuria Luxuria are far superior to Brigade Gateway going by the model as well as non-model flats. Gateway has a mall and office complex as attractions otherwise the quality of apartments is not great and is not exactly luxurious.
Also prices at Brigade Gateway are similar or even higher.
The current quoted price is 6190. Reading the comments here, they have hiked the price by 1200 per sq ft in little over a year time frame. Unbelievable.
The location is terrific but the traffic is terrible. The marketing people mentioned that the bus stand in front of the community will be moved further down by 100meters. Also they mentioned that there will be an underpass under consideration at the hanging bridge area to reduce the congestion. I am sure it will take several years as I do not see any work under progress. Metro station will be coming up right next compound. Unsure if it is good or bad.
They mentioned the nearest schools are NPS, New Horizon and Vibgyor.
Also, curious, why not much of a discussion about this project here?
We need to take a U turn always to enter and exit this property. May be we will need to plan 30 minutes of time for the U turns