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.