Where and what is Prestige Spencer Heights?
Prestige Spencer Heights is a premium Residential Development spread over approximately half acre with 34 Exclusive Apartments. It is located on Spencer Road, Frazer Town, which is one of the prime areas of Bangalore.
What are the different types and sizes of Apartments?
There are only 3BHK Apartments in 2 different sizes.
What are the Amenities?
The amenities on the property include:
Children’s Play Area
Rooftop Swimming Pool
How do i book my Home at Prestige Spencer Heights?
Identify your Apartment
Fill the Booking Application Form
Pay by Cheque/DD
The Booking Amount is Rs. 10 Lakhs. Along with the Booking Amount, we need a Cheque/DD for the balance of 20% of the Sale Value dated one month from booking.
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 on a time bound basis as mentioned in the payment schedule.
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.
When does the development start and when can I expect to move into my new home?
Construction will commence by September 2013 and your new home will welcome you by the third quarter of 2016.
Are modifications permitted in the apartment?
The specifications and designs have been carefully worked out. Considering the delivery date, customization 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. 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, the development plan has been sanctioned by the BBMP/BDA.
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.
What are the 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 any other taxes will be required to be paid as per the prevailing guidelines at the time of possession.
Has Spencer Heights been approved by Housing Finance Institutions (HFIs) for loans?
Yes. Leading Banks/Housing Finance Institutions (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 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 Prestige Spencer Heights?
The maintenance will be taken care of by Prestige Property Management & Services. You can be rest assured that Prestige Spencer Heights will be cared for by professionals.
What is the scheme for maintenance?
The scheme for maintenance is as under:
A sum of Rs. 42/- 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 and Services. All future payments are to be made favoring the Property Management Company.
An additional sum of Rs. 42/- 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.
What happens if I have any more questions/clarifications?
Please email us at: firstname.lastname@example.org or come down to our offices at:
Prestige Estates Projects Ltd.
The Falcon House
No. 1, Main Guard Cross Road,
Bangalore – 560 001