Where and what is Prestige Garden Bay?
Prestige Garden Bay is located in Yelahanka, off Doddaballapur Road, Bangalore behind CRPF. This is a Residential Development spread over approximately 6.2 acres of land with 8 Residential Towers. There are 184 Apartments in all with an Independent Clubhouse.
What is the distance from M.G Road?
The distance from M. G. Road is 19 Kms.
What are the different types and sizes of apartments?
There are two types of apartments – 3 & 4 Bedrooms. The 4 Bed units are Duplex, and are located on levels 1 & 2. The 3 Bedroom apartment units are single level ones & are located from level 3 to level 5.
Is there a Club house and what are the facilities?
Prestige Garden Bay has a spacious & well equipped Clubhouse. It has a host of facilities including a Gym, Outdoor (Roof top) Party Hall, Theatrette, Space for Toddlers, a Crèche, a Lawn Tennis Court, an Indoor Squash & Badminton Court, Half Basketball Court, a Swimming Pool, Health Club, Billiards Table, Table-Tennis and an exclusive Children’s Play Area. It also includes space for a Departmental Store.
All owners get complimentary membership, however usage fee will be applicable!
How do I book my home at Prestige Garden Bay?
Booking your home at Prestige Garden Bay is a simple three step process…
Identify the unit you want
Fill the Booking Application Form
Pay the Booking Amount by Cheque/DD
The booking amount is:
3 BHK – `5,00,000/-
4 BHK – `7,50,000/-
What happens thereafter?
You will be required to pay the balance of 15% of the sale value and provide post dated cheques (PDCs) for the remaining amount within 30 days against which a formal letter of allotment will be issued. Agreements will follow in 60 days after completion of the allotment process.
Can I make 100% down payment?
Yes! Please check with the Prestige Marketing Team for the details.
How are instalments to be paid and is it time bound?
Instalments are to be paid by way of post dated cheques which is a pre-condition of the allotment. The schedule of payment is mentioned in the cost sheet. The payment is on a time bound basis as mentioned in the payment schedule. If cheques are dishonoured the booking stands cancelled.
Will there be a validity period for the Price List?
Prices are subject to change from time to time.
What happens if I cancel my booking?
Why would you want to miss out on such an unprecedented product offering? However, if you do wish to cancel after booking, 1% of the sale value will be forfeited as cancellation fee and the balance will be returned without interest.
When does the development start and when can I expect to move into my new home?
Marketing will commence from 20th April 2012. Construction will commence by July 2012 and your new home will welcome you by December 2014.
Are modifications permitted in the apartment?
The specifications and designs have been carefully worked out. Considering the number of apartments and the delivery date, customization will not be possible in the collective interest of the purchasers.
What about car parking space?
We can provide one car parking space for every apartment. Additional car parking requests will be taken up towards project completion.
Is the title of the property clear?
Of course! You are dealing with Prestige… The land is freehold, marketable and free from all encumbrances.
Under which authority does Prestige Garden Bay come?
The development plan has been sanctioned by BIAAPA.
What are the agreements that need to be signed?
The following agreements need to be signed:
Agreement to Sell and Agreement to Build, followed with a Sale Deed.
What is the process of registration and when does registration takes place?
Registration will be done only on completion of the development and on payment of the entire sale consideration including the additional amounts. Registration will be facilitated by us through an advocate appointed by Prestige.
What is the process of assignment?
Assignment can be done only after the Agreements have been signed, PDCs have been handed over and the new party complying with the terms and conditions of the principal agreement. Transfer fee as applicable will be required to be paid. If you have availed of a loan then you have to also retrieve and hand over to Prestige all letters and documents issued by Prestige to the bank/housing finance institution. Requests for assignments will be accepted only after 15% of the sale value and 3 instalment payments are paid as per the payment schedule.
What are the additional amounts to be paid?
BESCOM & BWSSB charges, VAT, Service Tax, Sinking Fund, Advance Maintenance Charges, Generator Charges, Khata Assessment Charges, Registration Charges and any other charges as applicable.
Has Garden Bay been approved by Banks/Housing Finance Institutions (HFIs) for loans?
Yes. Leading Banks/Housing Finance Institutions (HFIs) have approved the development and will extend loans to customers based on their specified criteria.
What is my responsibility for disbursement of instalments through HFIs?
It is your responsibility to ensure timely disbursement of instalments from HFIs and no demand will be made by us to the HFIs for the same. To facilitate smooth payments, customers are required to issue a consent letter. Post dated cheques handed over for the instalments will be returned on receipt of the payment from the HFI.
Who will take care of the maintenance of Prestige Garden Bay?
The maintenance will be taken care of by Prestige Property Management & Services. Now you can be rest assured that Prestige Garden Bay will be cared for by professionals.
What is the scheme for maintenance?
The scheme for maintenance is as under:
A sum of `42/- per sqft will be charged as the advance maintenance fee for the first year and will be collected at the time of closing of your account. From the second year onwards, maintenance charges will be levied on a quarterly basis payable in advance. All future payments are to be made favouring the property management company.
An additional sum of `42/- per sqft corresponding to the super built area will be collected as sinking fund. This amount will be deposited in an Escrow account and the accruals will be used for major expenditure.
What happens if I have any more questions/clarifications?
Please email us at email@example.com or meet us at…
Prestige Estates Projects Ltd.
‘The Falcon House’
No. 1, Main Guard Cross Road,
Bangalore – 560 001