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Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

Last updated: March 5 2015
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  • Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

    Hi Friends

    what is ongoing price for prestige shantiniketan project?
    I heard that all most 30% of units are not occupied by owners
    in fact one entire tower is empty which is owned by land owner etc

    some online listing websites quoting prices from 96 lakhs to 1.4 crores for 3bhk

    can we get the price per sqft wise? is it between 4000 to 5000? or more
  • #2

    #2

    Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

    any update

    any update

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    • #3

      #3

      Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

      Current price in PSN is from Rs.5000 to Rs.6000/sqft. You can expect to get a unit around Rs.5500/sqft.


      Listings you might have seen on websites may be old listings or urgent seller listings.

      New Prestige project in Gunjur with delivery after 3 years is quoted around 4750/sqft. Why would be someone wants to sell prestige shanthiniketan for less than Rs.5000?

      Again, if there is someone on urgency or some other reason might sell but fair price is around Rs.5500/SQFT.

      Hope this helps.
      Last edited July 16 2014, 06:44 AM. Reason: typo

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      • #4

        #4

        Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

        expectation price always different than actual price

        I may disagree with you
        but by considering one entire tower is empty and 35% of flats are vacant and unoccupied in shantiniketan
        may people wants to get rid of unwanted / unused flats
        more over for new projects company will recruit new marketing team and follow new straegies
        but who will market old/existing projects

        at the same ,, for few years old projects monthly maintneace cost is so visible that you can't hide any thing
        so all these things making me to think one can get house here around 4500 if we search carefully and reach buyer directly

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        • #5

          #5

          Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

          Builders and Landowners usually sell their share as and when they require money. If prestige was selling at Rs.3000/sqft during their launch and if they can sell at higher price these days, they would make lot more money if they sell now.

          Again, if one could get a good flat at Rs.4500/sqft, I would say that is good price as land prices, cost of construction, cost of approvals are going higher if not stable.

          All the best.

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          • #6

            #6

            Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

            ongoing prestige shantiniketan price?

            Injrav I agree with you.
            Shantiniketan is selling at rs 3500 per sqft. Above that price it is not worth it.
            So buy carefully above that price.

            That empty tower is a landowner share with 150 flats out of 3000 flats. So that should show a lot of inventory is left.

            Also around 2200 families are already staying in psn but that's only a small number considering 3000 flats. So the sellers are desperate for these remaining 800 flats and one should easily negotiate a price of 3500 since sellers were not able to sell in past 8 years.
            Last edited November 6 2014, 09:50 AM.

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            • #7

              #7

              Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

              This Shantiniketan project took a major hit from the building collapse incident 6 years ago when 14 storeys under construction collapsed one day killing a construction worker and injuring a few more.

              Did cost-cutting cause Prestige building collapse? - The Hindu

              That also was followed by the general economic downturn in 2008 and there were no takers for the project. I don't know what the original prices were before this incident but after that I know of some people who booked at close to ~Rs 2000 PSF.

              I guess the stigma attached to the project due to the above incident is the reason why this project didn't sell or the prices didn't really catch up with other big builder projects in similar areas. Of course, the builders/re sellers must be counting on the short public memory when this will slowly be forgotten.

              I wonder if that dead laborer's family got any compensation from the builder. So also the injured ones.

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              • #8

                #8

                Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

                how come many flats are empty being in hot location and surrounded by all big companies ? then what is the point in buying new flat in whitefield if existing one's are not full...

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                • #9

                  #9

                  Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

                  Click image for larger version

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                  It's too hot I guess ;-)

                  Actual price is rs 3500/- so it's a deal. Ready to move in, 10 acre clubhouse, 6 acre cricket and football ground inside campus Click image for larger version

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                  • #10

                    #10

                    Re : Prestige Shantiniketan, Bangalore, Ongoing Rates? [Redirect]

                    am really surprised to hear that 800 flats are not full,that too in a beautiful community and in a beautiful location...what does this mean ?

                    in ecity also thousands of flats are coming up,is it difficult to find rentals in ecity as well after 2-3 years ?

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