Princetown is a large residential community located in Shettyhalli, which is near Air Force Technical College in Jalahalli (West). The location is part of north-west Bangalore and has proximity to NICE Expressway and Jalahalli metro terminal, which is operational.
The project features 10 wings consisting of 714 units with about 70% open space. The project has a combination of 2BHK studio, 2BHK compact and 3.5 BHK units types. The high-rise building are G+14 floors, where all sides of an apartment are open with no two units facing each other.
Project Update as of March 2015: Phase 1 is ready to occupy and people are living at Wing (J, K, G & H), Phase 2- hand over for interiors has begun(Wing A,B,C,D,E & F).
The project is being developed by Marigold Properites, which is part of Kumar Properties, a Pune-based construction company. RSP Design Consultants is the architect for the project. RSP Design Consultants (RSP India) started in 1996 has been involved in varied design projects such as SEZs, business parks, IT parks, hospitals, mixed-use townships, etc. RSP India is an associate company of RSP Singapore, one of the largest design, planning and engineering practices of South East Asia.
Princetown - Project Analysis
- Approvals status: Approvals obtained
- Demand analysis: Jalahalli was earlier known for the Air Force campus and training centers as well as some residential layouts (mostly individual homes). The surrounding areas and localities have large government offices and residential quarters such as BEL, HMT, etc. The demand in these areas is low given that there are few or no employment centers or commercial hubs apart from the public-sector developments. This has lead to lower sales velocity, and the property purchases are mostly meant for investment or future re-location purposes.
- Floor plan design analysis (pros and cons): The 2 BHK unit types were too limited in size. The only other option is the 3.5 BHK which appears to be too large. There are no units between these sizes, which is a drawback.
- Layout analysis: The layout appears to be well planned and accommodates a wide range of amenities and about 70% open space.
- Amenities: The project has most of the amenities expected for a high-end luxury project. Some notable amenities include health club, coconut grove, puzzle gardens, multipurpose partly lawns, organic waste converter, etc.
- Special attractions of this project (USP): The builder has positioned the project as space-efficient apartments offering value-for-money. The apartments will have open space on all sides, which is another advantage.
Payment Details of Princetown
- Payment schedule:
- Booking Amount: Rs.1,20,000 (2 BHK/2.5 BHK), Rs.2,50,000 (3.5 BHK)
- Other Payments: The purchaser (s) should enter in to the agreement within 15 days of the booking by paying 15% of the Agreement cost. Remaining payments will be as per the agreed schedule.
- Additional Charges:
- Car Park (covered): Rs.2,60,000 (in case of top floor 3.5 BHK units it is Rs.2,00,000)
- Floor Rise:Rs. 25 /sq. ft per floor from 4th Floor onwards
- Clubhouse: Rs.1,50,000 (2 BHK compact), Rs.3,00,000 (3.5 BHK) and Rs.2,00,000 (3.5 BHK top floor units)
Note: The project has a density of approximately 89 units per acre, which can be demanding on the existing resources.