Is Prestige Gulmohar worth your investment?

Prestige has launched yet another luxurious project Prestige Gulmohar in Bangalore at Horamavu in North Bangalore. Recently Prestige has flooded Bangalore market with multiple exquisite launches such as Prestige Falcon City, Prestige Temple Bells and now Prestige Gulmohar. Grapevine says despite being on premium to market rates, all these projects have sold well for Prestige. Investors who have missed perfect pricing in earlier project of Prestige, this offers another opportunity to acquire a piece of Prestige Property.

So, will it be a good buy? Let's explore…

Prestige Gulmohar spans across 3.5 acres of land and will house 400 units of 2BHK and 3BHK apartments. The built-up area of these apartments ranges between 1,169 sq.ft. to 1,763 sq. ft., depending upon sizes and layouts. There will be a total of 5 towers, out of which 2 towers will have G + 18 floors and 3 towers will have G+26 floors.

How to Reach?

As per the information provided by Prestige Group, the project is located on Horamavu Main Road and can be reached via ORR (Outer Ring Road). Strategically located between Whitefield and Manyata Tech Park, Horamavu is a rapidly growing suburb in North Bangalore. If you know about Maruti Showroom in Horamavu, then you can easily reach the project site as it is located next to Maruti showroom.

Location Advantages:

The area enjoys close proximity to the MG Road, City Centre and Commercial Street. The International airport is located at a distance of about 35 kilometers from project site. Three major metro stations located close to Horamavu are K.R Puram, Banaswadi and Bangalore East.

Infrastructure

Located in North Bangalore, Horamavu is still in the process of developing as a good residential location. But development activities are fast picking up and one can see better infrastructure in coming years. With huge land area available for future development the location is promising due to its smooth connectivity to the city. Its closeness to the IT hubs of Bangalore at Whitefield, ITPL and Nagavara, which are hardly 7-10 kilometers away, makes it the most sought-after destination among professionals.

The major concern with Prestige Gulmohar is that it is just 500 meter from the railway track and you might have to wait minutes at crossing daily to reach your home. Due to the closeness to railway track it might have unpleasant environment to live in, not just from the traffic point of view, but also the sound and vibrations of passing train actually makes it unbearable.

Needless to say, the apartments at Prestige Gulmohar will be equipped with the best amenities to provide splendid living standard to its residents. Some notable amenities of this project are:

• Terrace Garden
• Splash Pools
• Swimming Pool
• Tennis Court
• Table Tennis Room
• Amphitheatre
• Gymnasium
• Basketball Court
• Salon
• Yoga/Meditation Room
• Health Club
• Concierge Service
• Old Folks Corner
• 24x7 Security'
• Intercom Facility
• Jacuzzi
• Spa

Price Comparison

While the ongoing property rates on Horamavu Main Road (towards the ORR and before the railway crossing) ranges between Rs. 3,500-4,000 per sq.ft., Prestige Gulmohar has pre-launched its unit at Rs. 4,500 per sq.ft.

If we compare the rates of Prestige Gulmohar with other projects located in the same location like Kolte Patil Mirabilis @ Rs. 3,950 per sq.ft., the prices seem to be a bit higher. Additionally, the project has low UDS (Undivided Share), and will offer 400 high rise residential units which will be built over 3.5 acres of land. This actually means less open area will be available for other amenities.

But, if market reports are to be believed, the buyers of Prestige Ivy Terraces got 20% appreciation within a year. So, the buzz may prove to be correct with all Prestige properties getting a good appreciation over time. So hurry up and don't miss this lucrative opportunity and invest in Prestige's new launch 'Gulmohar'.

If you have any reviews about Prestige Gulmohar, do share it with us. To know more about Prestige Gulmohar, visit PropTiger.com.