Got this from a broker: another pre launch from prestige

Located just a few meters away from the Banashankari Temple, a high rise premium tower called as “Prestige Brooklyn Heights”.

Type of development: High rise residential apartments
Type of apartments:Spacious 3BR & 4BR
Tentative Size of Apartments:3BR: 2019sft-2059sft, 4BR:2615sft-2825sft
Price/sft Rs.6000/-sft (Approx) for 1st 10 units onlyFloor hikeRs.25/-
Car Park:Rs.300000/- each
Booking amount:3BR-7.5lacs, 4BR-10lacs
Completion period:3yrs from date of commencement
Beneficiary Details:PRESTIGE ESTATES PROJECTS LTD
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  • it's a prestige ploy to announce and block the units thru it's coterie of agents. why are they announcing first of all?

    On the launch day they will say that everything is sold out however agents will keep on selling those units for the next few months/years.

    People have more or less understood these tricks. Not worth it unless someone is desperate.
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  • Originally Posted by springfield9
    it's a prestige ploy to announce and block the units thru it's coterie of agents. why are they announcing first of all?

    On the launch day they will say that everything is sold out however agents will keep on selling those units for the next few months/years.

    People have more or less understood these tricks. Not worth it unless someone is desperate.



    "Janhit me jaari"


    Any builder who starts pre-launch, cant do the advertising of their pre-launch projects, because they dnt have full approvals, so they work thru channel models as they might not have ur contacts to reach you.

    You can always guide me by ur valuable suggestions if i am wrong.

    ROckY.
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  • At a shot and on the first day they can generate the required revenue for the next step.
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  • Now one Prestige broker sent me a mail for a soon-to-be pre-launched project

    massive project on Doddaballapur Road, just 5 kms from Yelahanka police station, in a 20 acre land and 1500 apartments approximately, comprising of 1BHK, 2BHK, 3BHK and 4BHK.


    Height of marketing gimmick!

    There used to be so called - launching price - available only for first few days, then it became pre-launch i.e., there is no certainty about site/approval/plan but you pay us money to book it. Now these people have gone to the next level of greediness with their so called soon-to-be pre-launched offers. God help these people!
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  • I found the floor plans and location map for Brooklyn Heights here. But I belive the 6500 psft price is only for first 10 bookings. It will be later priced at 6750psft. Is it a good price to book at..?? in this location??
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  • i am really surprised to see the way people are rushing to book an apartment from BIG builders. And the funny part is with the name of pre launch they are selling with such a high rate that also without any floor plan!!!!!!!!

    i was also very happy to see that prestige casa bella is launching 3150/-. I got this info through an agent and on Dec 1st i was planning to go and check the details for booking one, i got a call from him saying that within 20 min all the apartments are sold out... can u believe it????? Yes i believed. :)

    After that he told me i can get u apt for 3450. i told him that much i cant afford. After 3-4 hours again got a call saying now the price is 3600/- so i just left the idea of booking a prestige house :)

    But the funny part is after 1 week also the same agent offered aprt with 3450 sqft. how???? dont u think its just a marketing trick or i dont know what u can call it. for the first day nooooo its in the first half of the prelaunch day they will say its sold out and how they can sell with the same price after one week....


    ?????????
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  • I can't agree more with each of the posts in reply above. This is "what I think" a pure marketing gimmick! As far as I understand there are 2 kinds of people looking for real estate -
    1.) Genuine buyers buying for self. Don't need to explain about this type as most of us belong here.

    2.) Pure investors who will help generate capital for the builder so that he doesn't need to use his own money in buying the land, getting approvals and all other costs involved. These people could be NRIs, or friends relatives of the builders who have some confidence in him and are willing to park their money with him. In return the builder will promise them multiple flats in the project as a very cheap rate, for eg if the pre launch opens are 3150 - 3200, he might have allotted some flats to the investors for as low as 2000 psft. (Again this is my speculation).

    This model also seemed fine, but the issues arises when the builder starts encroaching the people on Type 1 by throwing them deals of Type 2 and gullible people falling for them. I mean to say the real buyers will definitely want to see the land, all approvals in place, floor plan, location plan and pretty much everything before they are convinced to go ahead with the property.

    However, now these reputed builders are changing the trend and making genuine buyers fall for (so called soaring/ appreciating) prices and book flats with them.

    I mean, how is someone even sure that the builder has bought this land? Is there a single paper with the builder which provides some kind of trust/ confidence in the buyer?

    Again, I am not with or against anyone in particular here. Just against the practice!
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  • Originally Posted by Paulmit
    I can't agree more with each of the posts in reply above. This is "what I think" a pure marketing gimmick! As far as I understand there are 2 kinds of people looking for real estate -
    1.) Genuine buyers buying for self. Don't need to explain about this type as most of us belong here.

    2.) Pure investors who will help generate capital for the builder so that he doesn't need to use his own money in buying the land, getting approvals and all other costs involved. These people could be NRIs, or friends relatives of the builders who have some confidence in him and are willing to park their money with him. In return the builder will promise them multiple flats in the project as a very cheap rate, for eg if the pre launch opens are 3150 - 3200, he might have allotted some flats to the investors for as low as 2000 psft. (Again this is my speculation).

    This model also seemed fine, but the issues arises when the builder starts encroaching the people on Type 1 by throwing them deals of Type 2 and gullible people falling for them. I mean to say the real buyers will definitely want to see the land, all approvals in place, floor plan, location plan and pretty much everything before they are convinced to go ahead with the property.

    However, now these reputed builders are changing the trend and making genuine buyers fall for (so called soaring/ appreciating) prices and book flats with them.

    I mean, how is someone even sure that the builder has bought this land? Is there a single paper with the builder which provides some kind of trust/ confidence in the buyer?

    Again, I am not with or against anyone in particular here. Just against the practice!


    I agree completely.:bab (42):
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  • Sandym - Did u get my PM?
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  • yes bro, i will reply you soon.
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  • When I checked Nitesh Ceasar Palace on Kanakapura Road about 1 year back, they had said everything is booked. Now atleast 3 Property consultants are calling me every alternate day to invite me for a site visit, and their marking gimmick..."only a few apartments are remaining and I should book fast". What nonsense...keep calling guys...I am not falling for it. Funny part is that 2 of these agents are from the same company. Look at the in-house competition.

    If the rates are increasing regularly, whey are they so desperate to sell at cheaper, rather than wait for another year and get atleast 25-50% returns ? Sometimes I feel like posting a wanted advt just for fun and listen to all this BS nonsense from these brokers. Kinda makes me feel royal !! :)

    Some are so dumb...that even after telling them that my budget is less than 85L, they still call me regarding this Prestige BH Project, where the starting price for a 3BHK well surpasses 1.2Cr.

    Instead I am seriously thinking of buying a 30x40 site and build a house myself, it will be cheaper than an apartment. My cousin who is an independent builder (builds independent houses) says no transactions are happening at this high quoted rates, the real rates are much lesser. He himself cautioned me not to buy at these rates. Now since he is from RE , I tend to believe him .
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  • its of no use in buying such overhyped homes built on 'undivided land'... instead its better to buy a plot and get a independent house..
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  • Originally Posted by mymarji
    My cousin who is an independent builder (builds independent houses) says no transactions are happening at this high quoted rates, the real rates are much lesser. He himself cautioned me not to buy at these rates. Now since he is from RE , I tend to believe him .


    Would like to know what is termed as a Higher rate for which region.
    Is 3000 psft a high rate for Sarjapura road? What should be the real rates be around then?

    More importantly - Even if we know the rates are inflated and unreal, what do we do ? Coz surely cheaper rates are not available. All builders have hiked up the rates.
    One option you mentioned was to construct a house of our own.
    Now lets imagine we already own a plot of 30x40. How much should be an average cost of building a duplex 3 bedroom in this? No fancy accessories. Every thing which is suitable for medium class. For ease lets consider them to be of the same quality the B and C grade builders use.


    your views would be helpful in this
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  • Originally Posted by Paulmit
    Would like to know what is termed as a Higher rate for which region.
    Is 3000 psft a high rate for Sarjapura road? What should be the real rates be around then?

    More importantly - Even if we know the rates are inflated and unreal, what do we do ? Coz surely cheaper rates are not available. All builders have hiked up the rates.
    One option you mentioned was to construct a house of our own.
    Now lets imagine we already own a plot of 30x40. How much should be an average cost of building a duplex 3 bedroom in this? No fancy accessories. Every thing which is suitable for medium class. For ease lets consider them to be of the same quality the B and C grade builders use.


    your views would be helpful in this


    Rough order estimate would be in the range of 1500-1700 psft. No more than 30 Lacs at most i guess.
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  • Originally Posted by 4cubeww
    Rough order estimate would be in the range of 1500-1700 psft. No more than 30 Lacs at most i guess.


    Yes, you are right. My cousin said the same thing.

    So in JP Nagar 9th Phase, the currently hyped rate is Rs 4200/psft. Even at this rate, the price for a 30x40 will be around Rs 55L including registration. Construction cost is about Rs 1700/psft, so a decent 3 BHK duplex will be around 2000 sqft. The construction cost will be around Rs 34L. So total of Rs 55L + Rs 34L + 5L (incidental expenses) will bring the whole cost to about 94L.

    Now in Bangalore, no builder is selling a 2000 sqft apartment for less than 1.4Cr.

    If negotiated hard, the rate may come down by atleast Rs 200/psft.

    The only drawback is that one needs to put more time and effort in constructing the house, which is a headache. It is hard work for nearly 6-9 months.
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