Project Of The Week : Promenade, Bengaluru
The IT hub of India, Bengaluru, has witnessed a rising demand for real estate, both commercial and residential. With ample job opportunities available here, a large population has been migrating to city calling for a rise in demand for residential real estate. This rise in demand has thus triggering an overall rise of 16.6 per cent in residential property prices in past two years.
The city is being explored by a number of eminent developers who are developing projects that define the urban lifestyle of this metro city. Of the other prominent developers, Ozone Group and Elegant Properties, have jointly come up with a project in the city called Promenade. The project is located in Whitefield's Mahadevapura Road area, an emerging residential locality in Bengaluru.
The project
Promenade is a residential community spread in a land area of 5.6 acres. The project is all set for its launch and will have 549 units of apartments up for sale. The apartments will be available in configurations of 2BHK and 3BHK. The 2BHK apartments are available in nine different super built-up area dimensions ranging between 1345 sq ft-1540 sq ft and 3BHK apartments are available in 13 dimensions ranging between 1765 sq ft-2400 sq ft. The developer has planned a number of amenities that the residents will have access to. Some of them are:
The locality
Whitefield, one of the major IT hubs, is also one of the most sought after residential localities in the city. Adjacent to the Phoenix Market City Mall, the project has some prominent IT companies nearby. Some of the key locational advantages of Promenade are:• Important thoroughfares: M G Road• Educational institutions: Ryan International School, Brigade School, Gopalan School• Hospitals: Vadehi Hospital, Sathya Sai Hospital, Narayana Hospital• Shopping malls: Brookefield Mall, Inorbit Mall, Forum Value Mall
Infrastructure & future prospects
Whitefield is a part of Greater Bengaluru gained prominence only during the 1990's when the area was considered by multinationals and IT companies to set up office here. The locality is witnessing the price growth of 13.9 per cent as per PropTiger's datalabs report of past 24 months. At the present time, the total number of residential project in Whitefield is 470. The Phase-II services of the Nammo Metro has been provisioned to serve the area.
The price
The apartments at Promenade are being offered at a price of Rs 5,690 per sq ft, while the average property price in Whitefield is Rs 4,785 per sq ft. The apartments at Trifecta Starlight, Nester Harmony and VKC Chourasia Sapphire, projects similar to Promenade, are available for Rs 5,600 per sq ft, Rs 5,230 per sq ft and Rs 8,100 per sq ft, respectively.
The developer
Ozone Group as well as Elegant Properties is considered to be one of the premium real estate developing companies. They have worked together to provide home seekers value for money with quality construction, premium facilities, and good investment opportunity in a great locality.
PropGuide's remarks
| Parameter | Remarks |
| Project | Good |
| Price | Good |
| Locality | Good |
| Developer | Good |
Overall Recommendations
Promenade is a residential property, which promises a good return to the home buyers both in terms of quality lifestyle as well as good return on investment.