Prestige Apartments

Prestige Apartments stands in DLF Newtown in Akshayanagar, pincode 560076, a residential pocket off Bannerghatta Road on the south side of Bangalore. The area already has several apartment communities, so shops, clinics and schools are part of the existing neighbourhood rather than a promise for later.

For the daily commute, Hosur Road as well as Bannerghatta Road can be reached by road, and the Outer Ring Road office belt is within driving range. The developer has not published distances or travel times to any office, station or school, so we do not quote any. Drive the route to your workplace at your usual hour, then repeat the trip home in the evening, before you commit.

Fourteen towers, the tallest at 27 floors, will bring a large number of new households onto the local roads. Ask where the main gates open, how many exits the site will have and how visitor parking is handled. If school runs matter to you, time the trip to your child's school on a weekday morning. Walk the approach road after dark too, since lighting and footpaths vary a lot in growing pockets like this one.

Prestige Apartments has six layouts, all quoted as built-up area. Rs. 85 Lakhs is the opening price for the 1 BHK, which measures about 690 sq ft, and Rs. 1.40 Crore for the 2 BHK of about 1,140 sq ft. Three bedrooms with two bathrooms (about 1,480 sq ft) start at Rs. 1.80 Crore; with three bathrooms (about 1,800 sq ft) at Rs. 2.20 Crore. Adding a home office takes the 3 BHK to about 2,100 sq ft and Rs. 2.55 Crore. The largest home, a 4 BHK with a home office, is about 2,700 sq ft and starts at Rs. 3.55 Crore.

On these figures the rate runs at about Rs. 12,100 to Rs. 12,300 per sq ft for the first five layouts and about Rs. 13,100 for the 4 BHK. Carpet areas have not been published, so ask for them. Every price is an opening figure; floor and facing will move it.

As an under-construction purchase, you pay GST on top, plus stamp duty and registration. Ask for a cost sheet that lists:

• Base rate and the area it is charged on
• Carpet area of your unit
• Floor-rise and facing charges
• Car parking and clubhouse fees
• Maintenance deposit
• GST as a separate line
• Stamp duty and registration

Prestige Apartments has no RERA registration number published yet. Ask Prestige Group for it and check it on the Karnataka RERA website, rera.karnataka.gov.in. A project of 35 acres may be registered in phases, so confirm which phase your tower falls under and what completion date that phase declares.

Because construction is ongoing, you will sign an agreement for sale, not a sale deed. Before you pay beyond the booking amount, ask for:

• The RERA certificate for your phase
• The sanctioned building plan showing your tower and unit
• Title documents and an encumbrance certificate for the land
• A draft agreement for sale with the handover date and payment schedule
• The name of the bank holding the project's escrow account

Read the delay clause in the agreement, since a 2029 onwards date can stretch. At handover, the tower should have its occupancy certificate. You then register the sale deed, and the khata is transferred into your name. Keep copies of every receipt, because the stamp duty value and your home loan both rely on them.

Prestige Apartments has 14 towers, the tallest at 27 floors, spread across 35 acres, with the clubhouse, courts and gardens shared by every tower. The open-space share has not been published, so ask for the sanctioned site plan and see how much ground stays green. Any images you see are renders, as planned by the developer, until that space is built.

A weekday could start on the jogging track or in the yoga and activity zone, followed by a session in the gymnasium or the swimming pool. Parents with young children have a creche and a kids' play area on site, which makes a working day easier. The health centre covers routine needs without leaving the gates.

After work, the sports courts and the indoor games area keep teenagers busy, while the landscaped gardens suit a slow evening walk. Birthdays and family events can move to the multipurpose party area. Retail spaces inside the township should cover small daily purchases once they open. Ask which of these facilities will be ready when the first towers are handed over, and which will follow later.