Prestige Group of Constructions has come up with Bangalore’s most awaited properties of either investments or personal stay. Prestige Smart City project is located in Sarjapur Main Road with spread across acres of luscious green landscapes across the property. For anybody who considers living around a green and serene environment. This is the place to BE! Now, talking about the location of the property, It is located in the Eastern side of Bengaluru which has all the majority of IT parks located. For the people who are in the corporate world and don’t want to stay far off from work or from green environment, this location seems to be perfect. For the shopping of groceries and all the basic needs there are supermarts being constructed inside the property as well and also there are quite a few marts even outside the premises. To top it all off there is the newly constructed metro station that is coming up that brings you all the closer to the rest of the city and makes way for evading traffic as much as possible!
This Project is one of the most finest real estate projects that are coming up in town.. Let's talk more about the plan of the project. Prestige Smart City is an elegant residential community that offers 1 BHK, 2BHK and 3BHK homes at extravagant prices. The Apartments are designed in various different sizes and configurations, Prestige group has taken care of the smallest to the largest requirements of the potential buyers. It has all the top-notch interiors, elegant layout and modern exteriors. Being In India where Vastu is such a big deal. We here at Prestige have taken into consideration all our experiences from our Past projects and made ALL the flats that we offer Vaastu compliant. This Project even takes into consideration your ventilation needs and has installed high elevated windows so that Your house stays under the bliss of the sun and is well-ventilated!
Prestige Group Has even been very generous with its pricing process that makes this flat affordable to almost anybody! When we look at the project through the perspective of an investor. Bangalore East has had the highest growth rate in all of Bangalore as all folks coming from out of town have always found this locality to be a better place to live because of various reasons like proximity to work, familiarity with corporate working folks around and many other reasons. We have to agree that the Real Estate market in Bangalore has gained a lot of value after the infusion of the IT Parks into its environment which makes Bangalore a strong place to invest or reside in.
The best part about owning a house in the Smart City is that the property is well engineered and the construction process has been taken care of very closely. This makes sure that the project uses all the top-notch latest technologies and also a very space effective methodology to deliver a residential property that is absolute serenity. The Township consists of a wide range of amenities in sports, recreation, community fitness and many other leisurely segments which make it a very healthy and accessible environment to stay in. The property is installed with a state of the art club house which consists of various conveniences including fully-loaded Gymnasium, Half-Olympic size swimming pool, Card rooms and a massive party hall. As for the kids.. The property offers a range of parks, play ground like a basketball court, football court a kids play zone.. Prestige Group has taken care of people from all age groups. They have made sure that every individual has their own kind of recreation centers present inside the property which makes it the best place for families to live in a Healthy that means Happy environment.
The project even offers a tag of being a smart home buyer as it takes care of all the environmental concerns that are around us in the modern day! The property has a rain water conservation, water purification systems, 24/7 water and an outstanding security system that makes you feel in and around the premises. There are also aptly set-up parking slots, Hi-Speed lifts and also separate service lifts that help during Moving-In!
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The company has diversified over time into a number of related/non-related services, each of them spearheaded by individuals with adroit capacity. Services are as varied as the interior designing done by Morph Design Company (MDC) and the redefinition of elegance and suave in men’s formal dressing by Prestige Fashions (P) Ltd. They are also the only developers in South India to boast of such a widely diverse portfolio covering the residential, commercial, retail, leisure and hospitality segments.
Now with 205 landmark developments across the city, the company has extended its expertise to major cities across South India including Chennai, Hyderabad, Kochi, Mysore, Mangalore and Goa. Giving each city an unparalleled experience with landmark malls on the lines of ‘The Forum’, large townships, tech parks, hotels, luxury villas, and SEZs. The company already has several successful completed and ongoing projects in Chennai to its credit, spanning the commercial and retail segments. Prestige Cyber Towers, Prestige Polygon and Prestige Palladium are three completed commercial developments, which have received an overwhelming response. The Forum Vijaya Mall, Chennai’s largest mall was unveiled in 2013. The Prestige Group launched Chennai’s first township project – a Rs. 1,000 crore development in partnership with the Rattha Group in 2012. They also launched Prestige Silver Springs – the first-of-its-kind luxury villas in the city in 2013.
The Prestige Group today has become a name that is synonymous with innovation. The company has pioneered many landmark developments and introduced many firsts to South India.
Over the last decade, the Prestige Group has firmly established itself as one of the leading and most successful developers of real estate in India by imprinting its indelible mark across all asset classes. Founded in 1986, the group’s turnover is today in excess of Rs 3518 Cr (for FY 15); a leap that has been inspired by CMD Irfan Razack and marshaled by his brothers Rezwan Razack and Noaman Razack. Having completed 210 projects covering over 80 million sq ft, currently the company has 53 ongoing projects spanning 54 million sq ft and 35 upcoming projects aggregating to 48 million sq ft of world-class real estate space across asset classes. In October 2010, the Prestige Group also successfully entered the Capital Market with an Initial Public Offering of Rs 1200 cr.
Published On : 22 / Mar / 2020 | By : Nadeem
Get those rainy day funds in order — you're going to need them.
You’re excited because you just found the perfect home. The neighborhood is great, the house is charming and the price is right.
But the asking price is just the beginning. Be prepared for additional — and often unexpected — home-buying costs that can catch buyers unaware and quickly leave you underwater on your new home.
For almost every person who buys a home, the spending doesn’t stop with the down payment. Homeowners insurance and closing costs, like appraisal and lender fees, are typically easy to plan for because they’re lumped into the home-buying process, but most costs beyond those vary.
The previous owners of your home are the biggest factor affecting your move-in costs. If they take the refrigerator when they move out, you’ll have to buy one to replace it. The same goes for any large appliance.
And while these may seem like a small purchase compared to buying a home, appliances quickly add up — especially if you just spent most of your cash on a down payment.
You’ll also be on the hook for any immediate improvements the home needs, unless you negotiate them as part of your home purchase agreement.
Unfortunately, these costs are the least hidden of those you may encounter.
When purchasing a home, definitely hire a home inspector (this costs money too!) to ensure the home isn’t going to collapse the next time it rains. Inspectors look for bad electrical wiring, weak foundations, wood rot and other hidden problems you may not find on your own.
Worse still, these problems are rarely covered by home insurance. If an inspector discovers a serious problem, you’ll then have to decide if you still want to purchase the home. Either way, you’ll be out the cost of hiring the inspector.
Another cost is your own comfort. There are a number of smaller considerations you may not think about until after you move in.
Are you used to having cable? If so, is your new home wired for cable? It’s much harder to watch a technician crawling around punching holes in your walls when you own those walls.
And if you’re moving from the world of renting to the world of homeownership, you’ll probably be faced with much higher utility bills. Further, you could find yourself paying for utilities once covered by a landlord, like water and garbage pickup.
The best way to prepare for the unknown and unexpected is through research and planning. This starts with budgeting before house hunting and throughout your search.
Look at homes in your budget that need improvements, and then research how much those improvements could cost. Nothing is worse than buying a home thinking you can fix the yard for a few hundred dollars and then realizing it will cost thousands.
There’s really no limit to how prepared you can be. Say you find a nice home that’s priced lower than others in the area because of its age. You may save money on the list price, but with an older house, you could be slapped with a much higher home insurance payment, making the house more expensive in the long run.
This is where preparation comes in. Research home insurance and property prices in the areas you’re considering to make more educated decisions before you ever make that first offer.
Clearly define how much you intend to put toward your down payment, and then look at how much cash that leaves for improvements and minor costs, like changing the locks. That way, when you find a house at the high end of your range, you’ll know to walk away if it requires a new washer and dryer or HVAC system upgrade.
Establish a rough estimate for as many costs as you can think of, and be extremely critical of homes at the top of your budget — otherwise, you could easily end up being house-poor.
Know your budget and plan ahead. Buying a home is a lot less scary when you know what you’re getting into.
Published On : 22 / Mar / 2020 | By : Nadeem
Do you need one? Do they pocket the whole commission? Let’s set the facts straight.
Buyers and sellers often enter the market with misconceptions about real estate agents — how they work, how the process works and what the agency relationship is all about.
It’s helpful to point out, without getting too far into the weeds, that in any one real estate transaction, there are most likely two agents: one for the buyer and one for the seller.
Here are five myths (and five truths) about working with both buyer’s and seller’s agents.
Most people assume that their agent is pocketing the entire commission. That would be nice, but it’s just not accurate.
First, it’s helpful to know that the seller pays the commission, and they split it four ways: between the two brokerages and the two agents.
Finally, the brokerage commission isn’t fixed or set in stone, and sellers can sometimes negotiate it.
If you’re a seller, you sign a contract with the real estate agent and their brokerage. That contract includes a term — typically six months to a year. Once you sign the agreement, you could, in fact, be stuck with their agent through the term. But that’s not always the case.
If things aren’t working out, it’s possible to ask the agent or the brokerage manager to release you from the agreement early.
Buyers are rarely under a contract. In fact, buyer’s agents work for free until their clients find a home. It can be as quick as a month, or it can take up to a year or more. And sometimes a buyer never purchases a house, and the agent doesn’t get paid.
Before jumping into an agent’s car and asking them to play tour guide, consider a sit-down consultation or a call, and read their online reviews to see if they’re the right fit.
Otherwise, start slow, and if you don’t feel comfortable, let them know early on — it’s more difficult to break up with your agent if too much time passes.
Today’s buyers get most things on demand, from food to a ride to the airport. When it comes to real estate, buyers now assume they need only their smartphone to purchase a home, since most property listings live online.
First-time buyers or buyers new to an area don’t know what they don’t know, and they need an advocate.
The listing agent represents the seller’s interests and has a fiduciary responsibility to negotiate the best price and terms for the seller. So working directly with the selling agent presents a conflict of interest in favor of the seller.
An excellent buyer’s agent lives and breathes their local market. They’ve likely been inside and know the history of dozens of homes nearby. They’re connected to the community, and they know the best inspectors, lenders, architects and attorneys.
They’ve facilitated many transactions, which means they know all the red flags and can tell you when to run away from (or toward) a home.
Many people think that all agents are created equal.
A great local agent can make an incredible difference, so never settle. The right agent can save you time and money, keep you out of trouble and protect you.
Consider an agent who has lived and worked in the same town for around ten years. They know the streets like the back of their hand. They have deep relationships with the other local agents. They have the inside track on upcoming deals and past transactions that can’t be explained by looking at data online.
Compare that agent to one who’s visiting an area for the first time. Some agents aren’t forthright and might be more interested in making a sale. Many others care more about building a long-term relationship with you, because their business is based off referrals.
In a previous generation, sellers who wouldn’t deal with any agents tried to sell their home directly to a buyer to save the commission.
Smart sellers understand that real estate is complicated and that most buyers have separate representation. And many FSBO sellers will offer payment to a buyer’s agent as an incentive to bring their buyer clients to the home.
If you see a FSBO home on the market, don’t be afraid to ask your agent to step in. Most of the time the seller will compensate them, and you can benefit from their knowledge and experience.
Published On : 23 / Mar / 2020 | By : Nadeem
Affordable Housing in Bangalore is of utmost importance to the Builders in the coming days as there are numerous migrants from different states coming down to the City for making their living. This is creating a lot of demand for affordable housing in the real estate sector.
All the Tier-A builders in the market these days themselves are focused on building top-notch houses that even the middle-class people can consider purchasing! Although, It isn’t an easy task to give all the luxury features in a budgeted condo.. The builders have taken it upon themselves as a challenge to accomplish it!
There are new people coming into Bangalore everyday and after working for just a year look forward to buying an apartment for their own safe haven. These days everybody who once had a good cash savings prefers to go ahead and make an investment in the real estate field. Now, this is becoming possible even for the Middle-class families whose incomes are extremely reasonable.
Let’s consider an example.. Mr. Arnab has an income of 60,000/- a month and lives with his parents and wife and also a Kid. He has been working for about 6 years now and has never made an investment in Real estate before.. But is thinking about it now as he has a good cash savings and has to give a safe and secure environment to his family! So, having a budget of 60 lacs starts his hunt for buying a house! He finally comes across a property called Brigade El dorado. Where.. A 3BHK costs him about 45 lacs that is without calculating the registration costs and 5%GST! He then approaches them and finds out he is eligible for another deduction of 2.67 lacs under the PMAY scheme. Keeping in mind that the Brigade El Dorado is a magnificent project that has ALL Top-Notch facilities you can think of! For him getting a house that gives you all of this at a mere 42 lacs is like a dream come true! These Big projects have helped individuals actually get out their money’s worth!
Previously, in the market.. At this rate you had the option of buying a property only with local builders! Also, there are only a limited amount of local builders who actually give quality apartments the rest of them are just mainly PROFIT ORIENTED.
A few apartments that even the folks from the middle class can purchase are:
SHRIRAM 107 at 28 lacs*
Godrej 24 at 37 lacs*
Assetz Here and Now at 34 lacs*
Orchid Picadally at 52 lacs*
SHRIRAM Dil chahta hai dobara at 24 lacs*.
There are many other properties as well that offer a brilliant price with unreal amenities with an apartment that is worth going through! As we know, millennials are the new face of Indian realty. Quality houses that are sensibly priced, have over the years gained prominence amongst them. This is up to the extent that the generation is looking forward to fulfilling their aspirations of purchasing a home sooner than expected. Compact yet quality living is one of the recent trends that is widely accepted by the first-time homebuyers. The demand for affordable residential units, is in turn, driving the growth of this particular segment.
As per an industry report, affordable housing has witnessed a growth of 22 percent in the sales velocity during 2018. Unfortunately, the supply is not at par with the demand existing in this segment. The term ‘affordable’ as a buzzword is not even in line with the Government’s definition of affordable housing. However, the residential markets such as Bangalore, Chennai, Pune, Hyderabad and Kolkata have witnessed an exponential growth, which is only corroborated by a recent report which states that people’s propensity to spend on housing is likely to improve over the next three years across the cities. The Budget announcement towards the affordable housing segment gave a ray of hope to those who were dreaming to own homes post the reduction in GST rates. The escalating demand for chic and affordable housing is expanding and is expected to impact the overall sales in the residential market.
Post the introduction of several regulations, the realty sector has now become more organised and transparent. As a result, the homebuyers have started trusting the players in the market. Affordable segment has successfully garnered attention from the homebuyers and will further drive growth in the residential market. The current governmental reforms with regards to real estate and the initiatives towards providing housing to all will also provide a boost to the realty sector on a large scale.
India has seen a rise in the affordable housing sector, which over the previous 3-4 years has dominated the residential segment. In the past five years, the average size of apartments in most large cities has decreased. Realtors target a large segment of buyers, particularly millennials who prefer affordable homes in well-connected areas over large apartments in distant areas. The millennials inclination towards buying a home is also driven by the Pradhan Mantri Awas Yojana (PMAY) scheme and due to fewer liabilities on the home buyers. Developers also have been venturing into the segment because of the demand surge and to avail income tax exemption by the government under PMAY scheme.
Bangalore we all know is the 5th largest city of our country with a population of 9milllion + it is preferred as one of the best-sought places for investment destinations. Popularly known as Silicon Valley the city has witnessed the fastest growing pattern in some years. The crown fetches one more feather of being an IT Hub of India it is a metropolitan city which is experiencing a robust of real estate development and trends. People who are an investor and who want to invest in real estate always want to be updated and keep finding the new developing and current market trends in the areas. Being such a metropolitan city the job market has also developed tremendously. The city has premier educational institutes, hospitals, shopping malls, and many other infrastructural amenities. If we talk specifically about the realty sector Bangalore is dominated by residential and commercial projects both. The demand for 2BHK, 3BHK, penthouses and villas are high whereas affordable housing which has equipped the market right now has added the value to living. The biggies of real estate are coming up with highly advanced projects which are providing the buyers with more and more options.
Published On : 29 / Mar / 2020 | By : Pranav Ojha
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