- Magnifique by Hilife Ventures is being developed on a 1.3 Acre land parcel in Varthur, an upcoming residential hub with several other on going / completed residential projects in the region.
- The project is strategically located as it provides decent connectivity to prominent hubs such as Whitefield, Marathalli and Sarjapur.
- The Varthur Lake is located 200 meters behind the project, providing a serene view to its residents.
- The project comprises of 1 tower of B+S+11 floors in height.
- The project will have 97 residential units in total and will offer 2 and 3 BHKs ranging from 1095-1590 Sft.
Approval Status: All approvals in place
The project is being developed on a 1.3 Acre rectangular contiguous land parcel. The project will consist of a single tower of 11 floors, and will provide covered parking space in the basement and the stilt area for its residents. Visitors will have open parking provided on the West end of the ground floor, next to the club house, which is also located on the ground floor of the tower itself. Apart from Disha Windsor Gardens located across the road, there are no high rise developments around the project, which will ensure availability of sunlight to all residents. However, given the small size of the land parcel, the that the amenities have been constructed outside the residential complex, the distance between residential units is very small. Most of the units have only one side open resulting in open air and sunlight being available in just one room, while rest being left to rely on artificial light. Putting individual AC units in other units can also be a problem and buyer needs to conduct diligence in this regard.
The Varthur Lake is located behind the project, towards the North East. Residents of flats aligned to North and East should have an unhindered view of the Lake whereas residents of flats located to West might face obstruction from other units within the project. However, the view may be temporary, as construction happens on surrounding units. There is a single gate for entry and exit to the project which is located on Balagere Road with a somewhat narrow passageway to the gate, which might lead to congestion around it. The sewage treatment plant is located at the North end of the project, next to which is the aroma garden at the North West end. The skating rink, cricket practice pitch and the stone garden are vertically aligned one after the other in the East end of the project. Other amenities such as the swimming pool, tennis court, basketball court, kid's play area and the open-air theatre are concentrated at the South end of the project, adjacent to the entry.
Overall, given the size of the project, the size of amenities will be less than moderate and buyer needs to be appraised before making a decision.
Amenities: Tennis Court, Badminton Court, Open Air Theater, Swimming Pool, Toddler Pool, Club House, Gymnasium, Cricket Pitch and Bowling Machine, Kid's Play Area, Fish Pond, Party Hall, Skating Rink
Special Attractions of the Project:(USP) The project is located on the Balagere Road, in the upcoming residential hub of Varthur. The project is strategically located in the 'Golden Quadrilateral' of Bangalore, providing good connectivity to Whitefield, Sarjapur and the Outer Ring Road from Marathalli. The Varthur Lake is located around 200 meters from the back of the project, providing a scenic view as well as tranquility to its residents, although, future developments might block the view. The project itself has well designed units with no common walls with other units, while also providing a host of amenities despite the small land parcel.
Payment Analysis: This is a CLP ( Construction Linked Payment ) scheme
|Booking Amount ||: 1, 00, 000 (Rupees One Lakh Only) |
|On Agreement || || ||: 20% (Which includes booking amount) |
|On Footings || || ||: 15% |
|On Completion of First Slab ||: 10% |
|On Completion of Third slab ||: 10% |
|On Completion of Fifth Slab ||: 05% |
|On Completion of Seventh Slab ||: 10% |
|On Completion of Ninth Slab ||: 10% |
|On Completion of Eleventh Slab ||: 05% |
|On Completion of Brick work ||: 05% |
|On Completion of Electrical work ||: 05% |
|Possession/Registration || ||: 05%|
Car Parking (Per Car Park) - INR 2,00,000
Amenities - INR 3,00,000
BWSSB - INR 100 / Sft
KTPCL - INR 100 / Sft
Floor Rise - INR 25 / Floor per Sft
Service Tax - 6.44%
VAT - 4%