Prestige Tranquility Review

We have recently bought a flat near ITPL but that did not stop us from visiting "Prestige Tranquility". Thought of buying a flat at "Prestige", even a 1 BHK was a good thought & felt like good investment also. So we happened to visit the site this Saturday, 30 July.


PROS:

1. Its a big builder and construction quality and all can be expected to be good.
2. There is always a brand name associated with big builders which can be considered a status symbol.
3. Specifics: Architecture wise, what all I can say is that I have seen the plans of the flats for 1BHK, 2BHK & 3BHK. The tower construction is such that there is only 1 common wall between 2 flats whereas all other sides don't have a common wall. So, you get good air & light from outside.
4. Location: Its around 8 kms from KR Puram and another 10 kms from Whitefield (Hope Farm Junction). Both the ways there is negligible traffic & commuting by your own vehicle is easy. Its around 2.5 kms inside the National Highway
5. Availability: When we checked only flats above 10th floor were available for 1 BHK & 2 BHK
6. Whats Around: Around this place are a couple of manufacturing & other small industries. There is a residential school nearby & there are few more residential projects around - “Pruksa Silvana”, “GR Sun Villas”, “Brigade Exotica”, “Signature Dreams” and “Signature Tulips”

CONS
Now we come to most important part since its usually better to look at 'CONS' rather than 'PROS' to avoid any issues after buying flats:

1. Location: Flats are around 2.5 kms inside the national Highway, so you can't think of any kind of 'public transport' till here. There doesn't seem to be any kind of public utilities, shopping areas, malls or anything else nearby. (Since there are 2000 flats coming up, things will develop like a supermarket, 2-3 restaurants etc though but a shopping Mall!!! & other things like multi-cuisine restaurants and all, I doubt)
2. Big Builder: Its a big builder and they have a reputation for making huge projects. Prestige SHantiniketan, Whitefield had some issues. Check out below links:-
1. http://expressbuzz.com/Cities/Bangalore/another-collapse-kills-2-at-prestige-complex/25330.html
2. http://in.diarealestate.com/2008/11/prestige-shantiniketan-whitefield-tower.html
3. http://www.mybangaloreproperty.com/blogs/bangalore_real_estate/archive/2008/10/26/all-the-buzz-about-prestige-shantiniketan.aspx
3. Price: If you're buying it just because the price is right, then it might not be such a good choice. For almost the same price you can get a Tier 2 builder like Sterling, Keerthi, SPectra around Whitefield
4. Societal Issues: They have 17 towers and each tower has different set of flats e.g. 1 BHK's at fag-end, 2 BHK's on sides (different towers etc.) and its not a mix-n-match of flats in same towers. It might be good for structural & architecture ways but not societal. person staying in 1 BHK might feel like an outcast.
5. Huge Project, huge area:- Its 38 acres of land, which means for you to come to main road you have to walk till main gate. So for everything, either you have to walk a lot or bring out your vehicle.

PRICE

• Per sq Feet :- Rs 2728/sq feet
• Car park Rs. 250,000/-
• Floor rise Rs. 15/- psft for each floor
• Rs 75/- psft for premium units
• Approximate additional charges
• Bescom/ BWSSB- Rs. 100/ Sft
• Adv. Maintenance – Rs. 42/ Sft
• 1st year Sinking fund Rs. 42/ Sft
• Generator for 2 BHK- 75000/- and 3 BHK Rs. 120,000/-
• Service tax, VAT, charges payable at possession (Around 10%)
• Stamp duty, Registration charges payable at possession
• Approx Price: a 2BHK shall have a basic cost price of around 32 Lakhs (10th floor) & above that there would be 3 lakhs - other charges;
• Svc tax, VAT (10%);
• Registration shall be additional. (Approx calculations for a specific flat with area 1087 sq feet & on 10 th floor)

 Folks these are my personal views & are not meant to offend anyone. Feel free to leave comments..


Thanks for reading this.