Where and what is Prestige Leela Residences?
Prestige Leela Residences are super luxury apartments located next to The Leela Palace Hotel on Old Airport Road. (Address: Old Airport Rd, Beside Leela Palace Hotel, Kodihalli, Bengaluru, Karnataka 560008, India)
What is Prestige’s vision for Prestige Leela Residences?
Prestige Leela Residences are being developed with an unmatched view of Leela Palace Hotel & Surroundings.
What are the key features of the Property?
Prestige Leela Residences has a total of 84 Apartments & 4 Pent Houses. It also houses a Clubhouse, Swimming Pool & other leisure facilities.
Who are the key designers of Prestige Leela Residences?
Architects – Thomas Associates
Landscape Consultants – Master Plan
Interiors – Morph Design Consultants
Who is the Architect?
Thomas Associates is the project architect.
What is the distance of Prestige Leela Residences from M.G. Road?
The distance to Prestige Leela Residences from M.G. Road is 5 Kms.
What are the different types of apartments and what are their sizes?
There are 88 Apartments of different sizes to suit a variety of needs. Each one has its distinctive features.
What are the amenities?
The amenities of the Prestige Leela Residences and in the Clubhouse include:
Billiards, Children’s Play Area, Gymnasium, Health Club with Steam/Sauna, Home Theatre, Party Hall, Space Provision for Super Market/Convenience Store, Swimming Pool, Unisex Salon.
Is there a Clubhouse, if yes, what are the facilities?
Yes, there is a Clubhouse that is fully equipped with Billiards, Children’s Play Area, Gymnasium, Health Club with Steam/Sauna, Home Theatre, Party Hall, Space Provision for Super Market/Convenience Store, Swimming Pool.
Is the Club Facilities open to non-residents?
The Clubhouse is exclusively for the residents of Prestige Leela Residences.
Are modifications permitted in the apartment?
Prestige Leela Residences has been designed tastefully so as to match the overall theme & ambience of the development, hence no changes or modifications in design & specifications will be permitted.
What about Car Parking Space?
We will provide three Car Parking Spaces for every apartment. Requests for additional spaces 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.
Has the BBMP/BDA sanctioned the plans?
Yes, the development plan has been sanctioned by the BBMP/BDA.
When do I get a confirmed allotment?
Please fill in the Booking Application Form indicating your choice of apartment
Enclose the Booking Form along with your Cheque/DD for 20% of Unit Sale Value.
An acknowledgement for the Booking will be issued on realization of the Booking Amount.
Formal Allotment Letters will be issued on realization of 20% of the Unit Value & receipt of PDCs towards instalments.
Allotments will be at the Sole Discretion of Prestige Estates Projects Ltd.
Can I make a 100% down payment?
Yes. You can make a 100% payment & avail 7% interest benefit (Calculated as per reducing balance method). However this scheme/offer will be valid for a limited period only. Check with our Sales Representative for more 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 the payment is mentioned in the Pricing Chart. The Payment is not linked to the progress of the construction and is made on a time bound basis as the delivery date has already been established.
What are the other additional amounts to be paid?
KEB / BWSSB, Registration Charges, Generator Charges, Advance Maintenance Charges & Sinking Fund, Khatha Assessment Charges, VAT, Service Tax and any Other Taxes as Applicable are payable at the time of possession based on the then prevailing guidelines.
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 Instalment payments are realized as per the payment schedule.
Has Prestige Leela Residences 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 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 the property?
The maintenance will be taken care of by Prestige Property Management & Services. You can now be rest assured that Prestige Leela Residences 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 & 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. 48/- 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 visit our office at the below-mentioned address:
Prestige Estates Projects Ltd.
The Falcon House
No. 1, Main Guard Cross Road,
Bangalore – 560 001