Prestige tranquility - risks

I had already written about the reasons for me to book an apartment at Prestige Tranquility, and I had promised that I'll be writing about the risks in investing in this project.

The biggest risk in a big project is the execution risk, if the project will complete or not, and if it completes, will it complete on time or not. And this is risk does not vanish till one get the possession of the apartment. In that sense, with the current progress on the construction, although this risk does not seem to be high, its still there.
In case of Prestige Tranquility, the biggest risk that I can see is the animal feed factory nearby.

I had experienced the smell a couple of times when I visited the sight. Although this smell will not be a huge problem for all the apartments, it will definitely be a problem when coming in and out of the property from the main gate. And this can be a big problem for the livability in the complex. I am very sure that there will be many factors playing about the smell and the factory, such as signature tower still to be sold out by Prestige, land value appreciation, government regulation for domestic and industrial area etc. the game is open, and only time will unfold the story.

The next risk that I see for this project is the development of the area. When I booked the flat 2 years ago, I was sure that by the time  apartment is ready for possession, the area will be habitable. Except for the property prices, I am not seeing much development on the ground. And it seems it will be still some more time before this area really becomes livable. That implies that it will not be a cake walk to sell the apartment, or let out it on rent. I do hope I am wrong and we see some good development in a years time, but that is also something to watch out for.
Having said all this, I still want to emphasize that I am still very optimistic about this project and hope that this project gives a very good home for the buyers.

How much Prestige Tranquility apartment costs

Pre-launch price for Prestige Tranquility was 2628/sq. ft. (I don't know why such an odd looking number was chosen by Prestige, would it really have mattered if it was say 2625 ?)
The project was launched with the price of 2728 /sq. ft..
And then it was revised to 2800 /sq. ft..
And then per square foot price was increased to 2900 /sq. ft., on 6th feb 2012.
On 1st may-2012 the base price was increased to Rs 3000/- /sq ft.
The latest rumor is that the booking is closed for 2-3 days in beginning of June 2012 and the will resume with base price of Rs. 3300/- /sq. ft. 
The booking for signature tower is also expected to open with the price tag of Rs.3500/- /sq ft.

Other charges include floor rise charges (currently its Rs. 15 per sq ft. per floor) and the premium location charges (currently Rs 75 per sq ft.)

Currently Car parking charges are Rs 2,50,000/-.
Bescom/BWSSB charges are Rs. 100/- per sq ft.
Generator Charges Rs 75,000/- per apartment.
Khata and assessment charges Rs 15,000/-
Advance Maintenance charges Rs 42/- per sq ft. (mostly for 1 yr.)
Sinking fund charges Rs. 42 per sq ft.


Actual delivery of apartments will take almost 3 years. Let's see where do the price lands up by the time the project is ready to occupy.

Four reaosns why I booked an apartment in Prestige Tranquility

Hello All,
In this blog I'll try to explain major reasons as to why I booked an apartment in Prestige Tranquility.

First of all, the location seems to be perfect for future development, since this location is a midpoint between Whitefield and International Airport. And hence I suspect, the kind of growth that Sarjapura road had seen in the previous decade (because of being the mid point between Whitefield and electronic city), will possibly be seen in this area. Also the good connectivity to the core part of the city by 6 lane highway(Old Madras Road). And proposed 4 lane highway to connect OMR with International Airport will act as a catalyst for the development.

The next is the reputation of the builder. There is no doubt that the most reliable builder in bangalore today is Prestige. And I have seen that in general prestige properties always command a good premium. Hence although the price at which the apartments are sold is not cheap(almost 40% premium over a near by apartment complex by DeFINER group), but I suspect the project will enjoy the premium even after 10 or 20 years.

The next interesting part is the land ownership. This project is not a joint venture, but rather Prestige has bought the land from the land owner, and is developing it. Many times when the projects is a joint venture between land owner and the builder, it lands up in some issue or the other, as there is a possibility of conflict of interest leading to disagreements and disputes. Hence Prestige Tranquility is will not have those kind of issues.

Many big projects some times face issues because of its size. Some times the internal roads needs to be made public, to give connectivity to the properties behind (as in case of L&T South City, Brigade Millenium, Sun City etc.). In case of PT, there are two villa projects which are just behind Prestige Tranquility(GR Sun Villas and Puruska Silvana), and both are well connected by a road just next to the PT. Also the way the towers in Prestige Tranquility are laid out, it is not possible to divide the property in two parts and make a public road in between, hence Prestige Tranquility  is safe from that perspective.

These are the main reasons why I feel investment in Prestige Tranquility is a safe. I'll also try to write about the possible risks/shortcomings in PT, but that is for some other day.

Congratulations to you if you have booked an apartment PT.

Real estate projects near Prestige Tranquility

Following are the real-estate projects neat Prestige Tranquility.
G.R. Sun Villas : Located just behind Prestige Tranquility, this project is spread over 20 acres of land with 172 villas and row houses.
Puruska Silvana : This one is also located just behind Prestige Tranquility. This project is spread over 26 acres if land with 321 villas and 80 row houses.
Brigade Exotica : Marketed as one of "Bangalore's tallest towers" this project is spread over 10 acres of land, two 35 story towers will house 474 apartments. This project is 2.6 km from Prestige Tranquility on Old Madras Road.
Brigade Golden Triangle : 3.7 km away from Prestige tranquility, on Old Madras road, this is a new project from Brigade group. Currently prelaunch offer is going on, and possibly this project will be launched in Dec-2012. This project will have 2,3 & 4 BHK, ranging from 1100 sq ft to 2000 sq ft.
Aashrayaa Mighty Meadows : About 1.5 km from Prestige Tranquility, Aashrayaa has come up with a Villa project on 18 acres of landm which has plots ranging from 1200 sq ft to 2400 sq ft.
Signature Dreams : This project is about 2 km from Prestige Tranquility. This project is spread over 10.5 acres of land and will have plots of size 1200 sq ft to 2000 sq ft.
Signature Tulips : This 36 acre project is about 2.5 km from Prestige Tranquility, have 519 plots of size 1200 sq ft to 2000 sq ft.
HM Builder : According to wiki mapia, HM builder seems to have bought land near Prestige Tranquility. Will update as and when new information is available regarding this.
DeFINER : This seems to be and apartment complex, 1.5 km from Prestige Tranquility, having 2&3 bedroom apartments on a 3 acre land and housing 204 units. This project does not seem to have any website, but a do have a facebook page.
Aishwarya GrandHill : About 2.8 km from Prestige Tranquility, just behind Mandur, this project has plot sizes from 1500 sq ft to 4000 sq ft.
Samruddhi Lake Drive : About 3 km from Prestige Tranquility, near Old Madras Road, this is a 4&5 bedroom villa project.
Abhyudaya Lotus Gardens : About 3 km from Prestige Tranquility - towards Budigere, this is a villa project with about 172 plots of various sizes. A good information about this project is available on this blog.
Prestige Gleenwood : About 2 km from Prestige Tranquility, Prestige Gleenwood is another project by prestige. This is a villa project, with villa sizes ranging from 2800 sq ft to 3625 sq ft. This is still in pre-launch stage.

Prestige Tranquility Walkthrough

Enjoy the walkthrough video of prestige tranquility. It remains to be seen as to how many things actually realize when it is built.

Prestige Tranquility - CRM phone numbers

These are the phone numbers of CRM for different towers

CRM Name	Phone Number	Tower Number
Ashwini	725-9586-852	6,9,13
Chitra	990-0040-488	2,4,12
Aamera	725-9586-850	8,10,11
Faaiza	725-9586-851	1,15,16
Dolly	725-9586-848	5,7,14
Komal	725-9586-849	3

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