Where and what is Prestige Ivy League?
Prestige Ivy League is located near HITEC City, on the HITEC City – Kondapur Road between the Google and the TCS E-park buildings, in Hyderabad. This is a residential development set in 5 acres of land. It consists of 349 apartments spread across 3 towers having 17 levels. (Address: Hitech City Rd, Whitefields, Kondapur, Hyderabad, Telangana 500084, India)
Who is the Architect?
RSP, Bangalore is the architect of Prestige Ivy League.
What is its distance from HITEC City?
The distance to Prestige Ivy League from HITEC City is 1.8 Kms.
Is there any differential pricing based on the floors or orientation of apartments?
Yes, there is a differential pricing for apartments. For every level/floor, there is a floor rise charge of Rs. 20/- per sqft. applicable. Please note 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 4 Guest Rooms, ATM Space, Badminton Court, Club House, Gymnasium, Health Club, Indoor Board Games, Party Hall, Pharmacy, Squash Court, Supermarket, Swimming Pool, Table Tennis, Theatre, Yoga & Aerobics Hall.
When does the development start and when can I expect to move into my new home?
Excavation for the project will start immediately and first pour of concrete will commence by August 2015 tentatively. Your new home will welcome you by Jan 2019.
What about car parking space?
We shall provide one car parking space for 2 Bed and 3 Bed (1,737 sqft.) homes, two car parking spaces for 3 Bed (2,049 sqft.) homes and three car parking spaces for 4 Bed apartments. 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.
Who are the legal advisors?
Tatva Legal, Hyderabad are the legal advisors.
Has the GHMC sanctioned the plans?
Yes, the development plan has been sanctioned by the GHMC.
How do l book my home at Prestige Ivy League?
Identify your Apartment.
Fill the Booking Application Form.
Pay the initial booking amount by a cheque/DD favouring “PRESTIGE ESTATES PROJECTS LIMITED” together with required supporting documents.
The booking amount is 20% of the sale value. Please provide a current dated cheque of the following amount (as per your choice of apartment) along with a second cheque for the balance of the booking amount dated 30 days from date of booking.
2 Bed – Rs. 5,00,000/-
3 Bed – Rs. 7,00,000/-
4 Bed – Rs. 9,00,000/-
What happens thereafter?
On receipt of the full booking amount, 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? Is it time bound?
Instalments 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 is on a time bound basis as mentioned in the payment schedule.
What are the other additional amounts to be paid?
Electricity/Water (HMWSSB) Charges, Contribution to the Sinking Fund, Advance Maintenance Charges, Generator Charges, Mutation & Assessment Charges, Registration Charges, VAT, Service Tax and any other taxes will be required to be paid as per the prevailing guidelines at the time of possession.
What happens if I cancel my booking?
If you do wish to cancel after booking, 1% of the sale value will be forfeited before agreements and 15% of the sale value will be forfeited after agreements as cancellation fee and the balance will be returned (subject to statutory deductions if any) 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 installment payments are realized as per the payment schedule.
Has Prestige Ivy League been approved by banks/housing finance institutions (HFIs) for loans?
Yes, leading HFIs have approved the development and will extend loans to customers based on their specified criteria.
What is my responsibility for disbursement of installments through HFIs?
It is your responsibility to ensure timely disbursement of installments from HFIs. 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 rest assured that Prestige Ivy League will be cared for by professionals.
What is the scheme for maintenance?
The scheme for maintenance is as under:
A sum of Rs. 48/- 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
An additional sum of Rs. 48/- 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.
Will there be a validity to the price list??
The prices are subject to change from time to time, subject to the discretion of the Management.
Am I permitted to shift my booking?
No, you are not permitted to shift your booking either to a different block or to a different project.
What is the main source of water?
Water will be obtained through the available ground water & HMWSSB supply. Water Recycling Plants, Rainwater Harvesting and other methods for optimum use of water resources are planned.
What happens if I have any more questions/clarifications?
Please email us at email@example.com or visit us at our office at the below-mentioned address
Prestige Estates Projects Ltd. – Hyderabad:
Level 1, Merchant Towers
Banjara Hills, Road No.4,
Hyderabad – 500 034.
Tel: +91 40 23351440 / 41
Fax: +91 40 23351442