Where and what is Prestige Gulmohar?
Prestige Gulmohar is a residential luxury development set in about 3.27 acres of land. The project consists of 404 apartments spread across 5 towers. It is located at Horamavu, Bangalore. (Address: Kalkere Main Rd, Jayanti Nagar, Horamavu, Bengaluru, Karnataka 560043, India)
What is its distance from M.G. Road?
The distance to Prestige Gulmohar from M.G. Road is 9.4 Kms.
Who are the Architects/Master Planners of Prestige Gulmohar?
The Zachariah Architects are the key designers for Prestige Gulmohar.
Is this a phased development? What is the timeline for completion?
The entire project will be taken up in one single phase. It is expected to be ready for possession by mid of 2018.
Is there any differential pricing based on the floors or orientation of the apartments?
Yes! There is a differential pricing for apartments. For every level/floor, there is an increase of Rs. 15/- per sqft. as applicable. Please note that the base price has been fixed, tower wise.
Is there a Clubhouse, if yes, what are the facilities?
Yes, there is a Clubhouse that is fully equipped with a Badminton Court, Billiards/Snooker Rooms, Gymnasium, Health Club with Provision of Steam/Sauna & Massage Rooms, an Indoor Sports Area, Kids Pool, Multipurpose Hall and a Swimming Pool.
When does the development start and when can I expect to move into my new home?
Construction will commence by April 2015 tentatively and your new home will welcome you by mid 2018 onwards.
Are modifications permitted in the Apartment?
Prestige Gulmohar has been master planned with a theme and design, and both external and internal finishes have been carefully chosen. Considering the timeline of delivery and the theme we are unable to accept changes/modifications.
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, at an Additional Cost.
Is the title of the property clear?
Of course! You are dealing with Prestige. The land is freehold, marketable and free from all encumbrances.
Has the BBMP/BDA sanctioned the plans?
Yes, all NOCs from various departments have been obtained, and the BBMP approval is under process.
How do I book my Home at Prestige Gulmohar?
Identify your Apartment from the Available Options
Fill the Booking Application Form
Pay the initial booking amount by a Cheque/DD favouring “Prestige Estates Projects Ltd” together along with the required supporting documents
The Booking Amount is 20% of the Sale Value of your unit:
2BHK: INR 3,00,000/-
2.5BHK: INR 4,00,000/-
3BHK: INR 5,00,000/-
What happens thereafter?
You will be required to issue Post Dated Cheques (PDCs) for the remaining amount within 30 days against which a formal letter of allotment will be issued. Agreements will follow after completion of the allotment process.
When do I get a confirmed allotment?
On payment of 20% of the Sale Value and submission of Post Dated Cheques for the remaining amount, the allotment will be confirmed.
Can I make a 100% down payment?
Yes. This offer is applicable for a limited period only. Please check with the Sales Team for more details.
How are installments to be paid and is it time bound?
Installments are to be paid by way of Post Dated Cheques which is a pre-condition of the allotment. This schedule of payment is not linked to the progress of the construction but on a time bound basis as mentioned in the payment schedule.
What are the other additional amounts to be paid?
BESCOM & BWSSB Charges, Contribution to the Sinking Fund, Advance Maintenance Charges, Generator Charges, Khata Assessment Charges, Registration Charges, VAT, Service Tax and all other applicable taxes will be required to be paid as per the prevailing guidelines at the time of possession.
What happens if I cancel my booking?
Why would you want to miss out on such a strategically located and meticulously designed project? However, if you do wish to cancel after booking, 1% of the Sale Value will be forfeited before agreements are executed and 15% of the Sale Value will be forfeited post agreements as Cancellation Fee and the balance will be returned without interest.
What are the agreements that need to be signed?
The agreements that need to be signed are Agreement to Sell and Agreement to Construct, followed by a Sale Deed, at the time of possession.
What is the process of registration and when does registration take place?
Registration will be done only on completion of the development and on payment of the entire sale consideration including the additional charges. 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 given and the new party agrees to comply with the terms and conditions of the principal agreement.
The Transfer Fees will have 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 20% of the Sale Value and 3 Installments payments are realized as per the payment schedule.
What if Prestige delays the construction and possession?
Our endeavour is to complete & hand over the project as per committed timelines. However for reasons beyond our control if the project is still delayed, Prestige will pay 9% per annum on the amount collected which will be clearly brought out in the agreements.
Has Prestige Gulmohar been approved by Banks/Housing Finance Institutions (HFIs) for loans?
Yes, we will be seeking approvals from all the leading Banks/HFIs who will extend loans to customers based on their eligibility criteria.
What is my responsibility for disbursement of installments through HFIs?
It is your responsibility to ensure timely disbursement of installments 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 installments will be returned on receipt of the payment from the HFI.
Who will take care of the maintenance of the property?
The maintenance will be taken care of by Prestige Property Management & Services. You can now be rest assured that Prestige Gulmohar will be cared for by professionals.
What is the scheme for maintenance?
The scheme for maintenance is as under:
A sum of Rs. 45/- 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 as decided by the Association/Prestige Property Management & Services. All future payments are to be made favouring the Property Management Company.
An additional sum of Rs. 45/- per sqft. corresponding to the super built-up 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. Amounts will be eventually transferred to the owners association once formed.
What happens if I have any more questions/clarifications?
Please Email Us at: email@example.com
Contact Us on our Toll Free Numbers: 1800 313 0080/Corporate Office Landline +91 80 2559 1080
Meet Us at the below-mentioned address:
Prestige Estates Projects Ltd.
The Falcon House
No. 1, Main Guard Cross Road,
Bangalore – 560 001