What is Prestige Glenwood all about & where is it located?
Prestige Glenwood is a residential community development of Villas and Twin Houses spread over 15 acres of prime land,
located at Budigere Cross, off Old Madras Road, near Prestige Tranquility. Prestige Glenwood is about 20 Kms from M.G.Road. (Address:Prestige Glenwood Bengaluru, Karnataka 562129 India)
What are the key features of Prestige Glenwood?
There are only 116 units in Prestige Glenwood, which is tucked away from the busy traffic and has an identity of its own.
The land coverage is only 30% and there will be extensive landscaped areas in the development.
What are the different types of Villas and Twin Houses, and what are their sizes?
There are six types of Villas and Twin Houses, all of which are of three and four bedroom configuration.
Is this a phased development and what is the timeline for completion?
The entire development will be completed in a single phase. It is expected to be completed by April 2015.
Will each plot be demarcated for Villas?
Yes, there will be landscape elements to demarcate the boundaries of the Villas.
Is the entire development compounded?
Yes, Prestige Glenwood will be a gated community.
Are modifications permitted?
Prestige Glenwood has been master planned with a theme and design, external and internal finishes have been carefully chosen. Considering the timeline of delivery and the theme we are unable to accept changes/modifications.
What are the amenities provided at Prestige Glenwood?
Amenities are provided within the property and in the clubhouse, and include:-
A well equipped gym, swimming pool, multipurpose hall, squash court, health club, badminton court, indoor sports area, children’s play area and space provision for a convenience store.
Is there a membership fee to the clubhouse?
Membership to the clubhouse will be free of cost to the owners. However, usage charges for the facilities will be applicable.
How do I get an allotment?
Fill the Booking Application Form indicating your choice of Villas/Twin Houses and reach it to us along with your cheque /DD
for Rs.15,00,000/-, being the booking amount, favouring “Prestige Estates Projects Ltd”.
An acknowledgement for the booking will be issued on realization of the booking amount.
Based on your application and priority we will be pleased to offer the available Villas/Twin Houses of your preference.
On confirmation of the unit of your choice you will be required to make the necessary payments towards the balance of 20%
of the sale value within 30 days along with the post dated cheques as per the payment schedule.
A formal allotment letter will be issued within 30 days on receipt of 20% of the sale value along with post dated cheques for
all the installments.
Allotments will be at the sole discretion of ‘Prestige Estates Projects Ltd.’
What happens thereafter?
Formal Agreements will be issued.
How are the installments to be paid? Is it time bound?
Installments are to be paid by way of Post Dated Cheques which is a pre-condition of the allotment. The schedule of the payment is mentioned in the pricing chart. The payment is not linked to the progress of the construction but is on a time bound basis as the delivery date has already been established.
Can I make 100% down payment? How do I benefit?
Yes, you can avail of a discount on 100% down payment. However, this scheme/offer will be valid for a limited period.
Will there be a validity for the price list?
The price list will be subject to change from time to time.
What are the other additional amounts to be paid at the time of handing over?
BESCOM/BWSSB, VAT, Service Tax, Advance Maintenance Charges & Sinking Fund, Khatha, Registration Charges and any other taxes as applicable are payable at the time of possession based on the then prevailing guidelines.100% back up power is being provided for the Villas/Twin Houses at additional cost.
What happens if I cancel my booking?
Cancellation of booking will attract a cancellation charge of 1% of the total sale value of the Villas/Twin Houses up to the
stage of Agreements. Thereafter, the cancellation charges will be 15% of the unit value. Refunds will be in effect only
on resale of the unit.
What is the type of documentation to be executed?
The documentation consists of Agreement to Sell and Construction Agreement. This will be followed with a Sale Deed at the
time of possession.
When will registration take place?
Upon completion of the entire development and receipt of full payment towards the sale consideration including the additional amounts and on handing over possession, registration will be carried out by lawyers appointed by us.
What is the process of Assignment?
Assignment can be done only after the Agreements have been signed, PDCs given 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 all the letters and documents issued to the bank by Prestige. Requests for assignments will be accepted only after 15% of the sale value has been paid and 3 installment payments have been made
as per the payments schedule.
Have all the approvals been obtained?
Yes, all approvals have been obtained.
Is the title of the property clear?
Yes, the land is freehold, marketable and free from all encumbrances.
Has the project been approved by Housing Finance Institutions?
This project will be approved by major Housing Finance Institutions.
Who will take care of the maintenance of the property?
The maintenance of the property will be executed by Prestige Property Management & Services, a subsidiary of Prestige Group.
What will be the Scope of Maintenance?
The Scope of Maintenance will cover maintenance of the common infrastructure for the Twin Houses/Villas, roads, landscape of common areas and upkeep of the individual landscape of the Villas. The owners in discussion with the property management company can further define the scope as may be required. Prestige Property Management and Services will carry out the above Scope of Maintenance at a cost.
Who is the key designer of Prestige Glenwood?
The architects of Prestige Glenwood are Alay Design Collaborators.
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