Guys.. This villa project by Prestige group caught my interest and the other day, I happened to check on the same and surprisingly the start price is only 1.7 Crs when others builders are priced 2Crs and above. A pretty big project. BTW, this comes closer to the hopefarm junction in Whitefield.

If anybody plans for a villa purchase, i would strongly suggest you to check on this. The sales in-charge for this project is one Rohan. No details of this project on the website of them.
Read more
Reply
8 Replies
Sort by :Filter by :
  • promised completion is mid 2015.
    CommentQuote
  • Mayberry in whitefield

    They magically increased the price by 13L in two weeks. Even after paying 2.5Cr you don't own the land, meaning land is not registered on your name, so you don't get KHATA. If are just entitled to undivided share juts like in apartments.

    Is it a new scam by prestige or is it normal not to own the land in villa projects.
    CommentQuote
  • Called Rohan. Was told that the starting price at SummerField is 2.5 Cr.
    CommentQuote
  • Mayberry in whitefield

    Maybe I used the wrong word 'scam'. My question is, not registering the land on your name is good for a buyer or builder. What are the pros and cons of this type of agreement? You are paying 2.5Cr, but you don't own the land, how is 2.5Cr being divided? can't be the building cost of villa. Whoever has already bought can answer this question. My thinking was some part of 2.5Cr should go as land value, remaining towards villa construction. Is this common practice by other builders too..or new innovative way, which might favor the builder???
    CommentQuote
  • Mayberry in whitefield

    Can anyone throw more light on this - 'undivided share of land'. My understanding was that at this price Prestige should be registering the land as well. Undivided share of land typically happens in apartments/row houses.

    Does the builder get any additional benefit by selling the property as 'undivided share of land' rather than registering the land, more so in this case, because these are not apartments.
    CommentQuote
  • Originally Posted by shweta06
    Can anyone throw more light on this - 'undivided share of land'. My understanding was that at this price Prestige should be registering the land as well. Undivided share of land typically happens in apartments/row houses.

    Does the builder get any additional benefit by selling the property as 'undivided share of land' rather than registering the land, more so in this case, because these are not apartments.


    Thanks for replying to my msg. I haven't heard this concept before Mayberry project. The logic is very simple: brake of 2.2Cr : land cost + construction cost + amenities cost (some premium ) + tax

    when you pay for land, you should own it, i.e plot should be registered on your name, and you should get Khata for it.

    My gut feeling is people don't care, land - no land, water - no water, area is close to slum or not, just buy it, it will double in six months. There is nothing wrong in this as long as this pyramid scheme continues to work. People will see problems when it happens (when "will double in 6 months" scam stops), until then enjoy. I wouldn't put my life savings (maybe income from next time) on this..amen!
    CommentQuote
  • looking for villa

    Hi,

    Can anyone suggest any good villa for investment? I am looking for any new project which I can get in pre launch offer. My budjet is 2-3 crore.
    CommentQuote
  • Stop your marketing gimmicks !

    Looks like this thread is started by marketing guys who dont get customers to make bakras anymore :bab (59): stop marketing here guys!!! this is the last place you want to be!
    CommentQuote