About Prestige Gulmohar
Prestige Gulmohar, the upcoming project from Prestige Group is located at Horamavu Road, which is one of the fast-growing areas in North Bangalore. The pricing of the project is tentatively at Rs.4500/- per sft. Prestige Gulmohar is expected to house 404 apartments with a combination of 2, 2.5 and 3 BHK units.
The location of the project in Horamavu makes it accessible to important locations including MG Road, KR Puram, Nagawara and Hebbal. The project is also accessible from offices at Embassy Manyata Business Park, RMZ Infinity and other office/commercial centers in the vicinity.
The project is proposed to have 5 towers, of which 3 towers will have G+18 floors while the other 2 towers will have G+26 floors.
Tower 1,2,3 will have G+ 18 Floors while Tower 4 and 5 will have G+ 26 Floors.
- Located in prime locality at Horamavu Road
- Horamavu Signal/Junction: within 1 km
- MG Road:10 kms
- Manyata Tech Park: 8 kms
- Proximity to educational institutions, hospitals and shopping destinations
Disclaimer/Note: The data and information pertaining to pre-launch projects are tentative since the developer is in the process of getting approvals and sanctions.
- Approvals status: Approvals awaited
- Demand analysis: Horamavu area falls in the North Bangalore region however, its also closer to KR Puram, Old Madras Road and Mahadevapura, which are large employment/commercial hubs. Given the strong demand for projects in North Bangalore and those near employment hubs we expect the demand to be strong in this area. Apart from this the project is also accessible from Manyata Tech Park, other parts of Nagavara and Hebbal via Outer Ring Road.
- Amenities: The project is expected to have high-end lifestyle amenities, which is typical of most projects from Prestige Group.
Registration Amount: Rs.3,00,000 for 2BHK ,Rs.4,00,000 for 2.5BHK and Rs.5,00,000 for 3BHK
On Project Launch: 20% of the sale value excluding registration amount is to be submitted at the time of booking.
Balance Payment: 80% of the sale value would be paid in 21 instalments starting from Feb 2015. In case of any delay or default in making payment of the instalments, Prestige shall charge interest at 18% per annum compounded months from the due date
- Additional Charges: Floor rise, Premium location charges, Car park and Other charges towards BESCOM/BWSSB, generator charges, sinking fund, advance maintenance charges, registration charges and taxes as applicable are not included in the rate per sft. and are payable separately, as applicable.
- Any drawbacks: Since the area is right after a railway cross on Hennur Road, there are chances of traffic bottlenecks when trains pass through
- Project Update: The project consists of multiple towers. Tower 1 and some portion of Tower 2 priced at Rs.4500 per sft were sold out. Similar parts of Tower 2 and the whole of Tower 3 were sold out at Rs.4750 per sft.