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.
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.
Hi Sunil,
ReplyDeleteThat is a nice blog. You have done some research and thanks for that. I bought a PT apt last year. Was getting anxious after reading some news about builders in Gurgaon.
Cheers!
~Ravi
This comment has been removed by the author.
DeleteHi Sunil,
ReplyDeleteThis is def a nice blog about PT. I too hv an apt and i was recently told that the possession date is July 2015, have you also been given the same date, is there any clause on compensation for the delay in possession. Are we to pay the entire cost of the flat upfront or hold some part of the cost to pay at the time of possession.
Pls do let me know your thoughts.
Thanks & Regards
Ekta.
hi,
ReplyDeleteI own an apt in prestige tranquility, i have a question to ask has the on possession charges and the maintenance charges increased coz what was informed and what you have listed above is not hte same they have increased the price and have sent me a statement to pay the new amount, has any other owner faced similar issue.
Hullo
ReplyDeleteWe are planning to buy a flat in PT. we r v concerned about small from animal feed factory and also that of location. Will the price in this area appreciate in 2 to 3 years time?. Will the area see some development?.
Hey, I am looking for luxury apartments. Can anyone suggest me some good apartments in sarjapur road.
ReplyDeleteThanks for sharing your experience and major 4 reasons about the apartment information with us. Keep blogging. Have a look at.
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ReplyDeleteGreat Blog! This post gives a better idea. Thanks for sharing useful information. I hope you will share some more content. Please keep sharing! Currently, I’m planning to buy Properties in Chennai, With your insights, I think I would be able to choose the best one wisely
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