Where and what is the Proposed Development?
Located strategically on the water’s edge at Marine Drive, Kochi, Prestige Neptune’s Courtyard is a luxury condominium development with modern lifestyle amenities.
What is the Land extent and what does the development consists of?
Prestige Neptune’s Courtyard is planned on a 5 acre plot. This development has 366 Apartments spread over 7 Towers. It has an Exclusive Clubhouse block with all modern amenities. Each Tower consists of 17 levels. The basement and ground floor is dedicated for car parking spaces.
On the first level a grand podium has been created which has the swimming pool, water bodies, extensive landscape and clubhouse; all of which overlook the backwaters.
What is the type of Residential Development and how many Apartments are being built?
The development has 366 Apartments of 3, 4 & 5 bedroom types spread over 7 Towers and 8 Service Apartments.
What are the different types and sizes of Apartments?
There are Apartments to fit every family size and every budget.
In addition we have limited Duplexes (D1, D2, D3, D4) & Penthouses (T1, T2 & T3). Apartment details of which are as enclosed.
Is there differential pricing based on the floors or orientation of Apartments?
Yes. We have differential pricing based on the level on which the Apartments are located (please refer to our pricing chart). In addition to this, Apartments facing the waterfront will attract a premium.
Is there a Clubhouse and what are the facilities?
Like any other development, facilities at Prestige Neptune’s Courtyard will be feature rich. The Clubhouse is with the following amenities:
Separate Health Club for Ladies and Gents with Steam & Sauna
Children’s Play Area
In addition we have the Sky Club located on the 13th level with its own express elevators, which have an exclusive lounge, function hall and theaterette.
All owners get free membership to the club facilities. However usage charges will be applicable as decided by the Management.
How do I book my home at Prestige Neptune’s Courtyard?
Two steps really!
Step 1: Fill the booking application form. The form may be downloaded from our website (www.prestigeconstructions.com) or can be collected from our Bangalore or Kochi office. Make sure you specify your choice of:
Location – Premium or Standard
Step 2: Enclose the booking amount with the form and give it to us or our representative. The booking amount payable is:
3 & 4 BR – 10,00,000/-
Duplex – 20,00,000/-
Penthouse – 50,00,000/-
What happens thereafter?
You will be required to pay the balance towards 15% and the PDC’s within 30 days against which a formal letter of allotment will be issued. Agreements will follow.
When do I get a confirmed allotment?
On payment of 15% and handover of post-dated cheques.
Can I pay 100% down payment?
We can consider a rebate for 100% down payment on or before 30th November 2006.
How are the instalments to be paid and is it time bound?
Instalments are to be paid by the way of post-dated cheques which is a pre-requisite of the allotment. The schedule of payment is mentioned in the pricing list. The payment is not linked to the progress of construction but on a time bound basis as the delivery date has been established. If cheques are dishonoured, the bookings stands automatically cancelled.
Will there be a validity for the Price List?
Yes, the initial offer will be valid up to 30th November 2006. The prices are subject to change.
What happens if I cancel my booking?
Why would you want to miss out on such an unprecedented product offering? However, if you do cancel after booking, then 1% of the sale value of the apartment will be forfeited as a cancellation fee along with a deduction for any marketing fee paid, and the balance will be returned within 4 weeks without interest from the date of written request.
When does the development start and when can I expect to move into my new home?
Marketing will commence on 1st November 2006, Construction will commence by December 2006 and your new home will welcome you by December 2009.
Can two flats be bought and combined into one flat?
Sorry, we really want to complete the project on schedule; hence no combinations can be done.
Are combinations permitted in the Apartments?
The specifications and designs have been carefully worked out. Considering the number of apartments and the delivery date, customisation 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 and two car parking space for penthouse apartments only. Additional car parking will be allotted at additional cost at the time of possession only.
Is the title of the property clear?
Of course, you are dealing with Prestige. The land is freehold, marketable and free from all encumbrances. The development has been approved by all financial institutions.
Has the sanctioned plan been obtained?
The development plan has been sanctioned by Kochi City Corporation License No. MOP7/218/06 Dated 07/08/2006
What are the types of agreements to be signed by the purchaser?
Standardised agreements to sell and construction agreement or a composite agreement for sale of the apartment will be issued to the purchaser. The Sale Deed will be registered on completion of the entire development and on payment of all amounts at the purchaser’s cost.
What is the process of registration and when does the registration take 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, PDC is given and the first three instalments are cleared and the new party complies with the terms and conditions of the principal agreement. Transfer fee as applicable will be required to be paid.
The assigner is to also retrieve and handover to Prestige all letters and documents issued by Prestige to the HFIs to facilitate the loan if any, availed by the assignor.
What are the additional amounts to be paid?
KSEB & KWA Charges, Registration Charges, Taxes as applicable, Contribution towards Sinking funds, Advance Maintenance Charges, Generator Charges, Assessment Charges, VAT if applicable, LWF and Service Tax.
What is the purchaser’s responsibility for disbursement of instalments through HFIs?
It is the purchaser’s responsibility to ensure timely disbursement of instalments from HFIs and no demand will be made by us to the HFIs for the disbursal of instalments. To facilitate smooth payments, customers are required to issue a consent letter. Post-dated cheques for the instalments paid will be returned on receipt of the institutional payment.
Who will take care of the maintenance of the development?
The same people who maintain Prestige Acropolis, St. John’s Wood and over 60 other buildings: Prestige Property Management & Services. Now you can be rest assured that the development will be cared for professionally.
What is the scheme of maintenance?
The scheme for maintenance is as under:
A purchaser is required to pay Rs. 36/- per sq. ft. towards advance maintenance charges. Maintainance Charges after the deployment of the advance payment will be collected quarterly in advance based on the cost and management fee incurred. Additionally, all purchasers will be required to pay a sum of Rs.36/- per sq. ft. towards the sinking fund which will be maintained in a separate “Escrow Account”, and the same will be used for any major maintenance in future.
Both the Advance Maintenance Charges and Sinking Fund Contribution shall be payable to “M/s. Prestige Property Management & Services” on completion of the development and handing-over.
What happens if I have any more questions/clarifications?
Please email us at: email@example.com and meet us: Prestige Estates Projects Pvt. Ltd. ‘The Falcon House’, #1, Main Guard Cross Bangalore – 560 001 or Contact us at our Kochi Office: Prestige Estates Projects Pvt. Ltd., No. 32, 1st Floor, Bay Pride Mall, K.P. Shanmugam Road, Marine Drive, Kochi – 682 031 Ph. 0484-4030000/4025555.
Has the Project been approved by Housing Finance Institutions?
This project will be approved by select Housing Finance Institutions.
What will be the Scope of Maintenance?
The Scope of Maintenance will cover maintenance of the common infrastructure for the Sky Villas/Independent Bungalows, Roods, Landscape of common areas & upkeep of the individual landscape of the Independent Bungalows. The owners in discussion with the Property Management Company can further define the scope as may be required.
The Prestige Property Management and Services will carry out the above Scope of Maintenance at a cost.