Project Watch: Puravankara Limousine

Puravankara Limousine is a residential project in Bangalore in its pre-launch phase in Rajaji Nagar in the western part of the city. The community has 2BHK, 3BHK, 4BHK and 5BHK configurations on offer.

The product  

Spread over an area of 2.3 acres, the complex will have 326 units of the above mentioned configurations. The prices of the flats vary from Rs. 97.6 lakh to Rs. 2.3 crore. The super built-up areas of the new project in Bangalore are: 2BHK apartments cover 1,222-1,343 sq.ft., 3BHK apartments cover 1,621-1,795 sq. ft., 4BHK flats measure 2,438 sq.ft., and 5BHK flats cover 2,849 sq.ft.

A few of the amenities that are expected to be constructed in the project are:

Community hall

Health facilities

Jogging track

Swimming pool

Badminton court

Indoor games, etc.

As a part of a pre-launch offer, investors in this under-construction project in Bangalore can pay 20% of the amount at the time of down payment and the rest when possession is intimated by the builder.

The builder

Puravankara Projects was founded in 1976 and has worked on 56 projects, 22 of which are under-construction properties. Their operations within India extend to cities such as Chennai, Kochi and Hyderabad and Bangalore. Overseas, their developments are concentrated in Dubai, Colombo and Saudi Arabia. In the coming 10 years, they aim to build 88 million sq.ft. of space.

How to reach

Puravankara Limousine can be reached from the Yeshwantpur Railway Station via the Chord and Tumkur Roads after a drive of 2.3 kilometres. Alternatively, one could try approaching the area from the Malleshwaram Railway Station via the 11th Main Road, which is a distance of three kilometres. The area also enjoys good bus service. The Rajaji Metro Station is only 1 kilometre away via the 20B Main Road and Chord Road.

The closest airport is the HAL Airport, which is 17.1 kilometres.

Locational advantages

Rajaji Nagar is only 8.8 kilometres from the centre of Bangalore. The neighborhood areas are Vijayanagar, Malleswaram and Mahalakshmi Layout. Various companies have their campuses in Rajaji Nagar such as Omex Industries, Quest Informatics Pvt. Ltd. and Reylon Softech Ltd.

Infrastructure and future growth prospects

All amenities required for supporting a home life are there in Rajaji Nagar. Quality schools (National Public School and St. Mark's Convent) , hospitals (Jinka Hospital and The Modern Eye Clinic) , shopping malls (Garuda and Orion Malls) and entertainment zones are in the vicinity of the area.  

Price comparison

The prevailing per sq.ft. price of Rajaji Nagar is around Rs. 7,916 while in the Puravankara Limousine, it is Rs. 7,990 per sq. ft. However, this should not startle investors as in certain pockets of Rajaji Nagar, prices have shot up to Rs. 12,990 per sq. ft.

Moreover, in the past six months, prices of property in Rajaji Nagar has gone up by 5.3% and in some pockets by 24.3%. Much of the area's growth is fuelled by the metro line, connectivity to Yeshwantput Railway Station and proximity to the Majestic Bus Stand. In future, the area is slated to gain from infrastructural development.

PropTiger.com's ratings

Recommendations

Puravankara Limousine, Bangalore is a good option to invest in because of its prime location, reputed developer and well-planned layout.