1.Description and exact location of Prestige Park Square?
Prestige Park Square is an imperial residential pre-launch by renowned
Construction groups of Prestige and is located in plush suburbs off
Bannerghatta Road, Bangalore. The project offers 2 and 3 Bedroom luxury
apartments equipped with upscale amenities and facilities.
2.What are the prominent landmarks nearby?
- Indian Institute of Management - Bangalore (IIMB)
- Employment hubs like IBM, Accenture, Oracle, and Honeywell
- Royal Meenakshi Mall
- Gopalan Shopping Mall
- Xtreme Sports Bar
3.What makes this project unique and apart from others?
Prestige Park Square is located in prime locales of Bannerghatta Road, which is
one of the up-trending real-estate hotspots of the city. The project includes
urban luxury-homes with modern facilities and features offered at affordable
4.What are the Facilities available in Prestige Park Square?
Prestige Park Square is aided with stately assemblage of various social,
entertainment, recreational, sports and fitness amenities. The facilities provided
includes a signature clubhouse, swimming pool, laps pool, gymnasium, saloon
& spa, children’s play area, garden area, tree-lined walking/jogging tracks,
library, crèche, multi-purpose community hall, indoor-outdoor sports’ facilities,
well planned parking area, rain water harvesting, in-house waste management
system and round the clock security surveillance facility.
5.Any difference in the price based on the floor and orientation of
Yes, differential pricing is applicable for apartments depending on floor rise and
orientation. There would be an increase of INR 15/- per sq.ft. Selected
apartments are also entitled to PLCs (preferential location charge) of INR 75/-
to INR 100/- per sq.ft.
6. When does the development start? What is the timeline for completion?
Construction is scheduled to commence by mid of 2018 and will tentatively be
completed by mid of 2022.
7.Are modifications permitted within the units?
Prestige apartments are thoughtfully drafted to adhere-to certain themes,
specifications and designs. So modifications and customisations will not be
possible in the collective interest of all the occupants.
8.What is the Procedure to Book a unit at Prestige Park Square?
Zero-down the apartment of your choice.
Fill the booking form with a booking cheque favouring “Prestige Estates
Projects Limited” along with the required supporting documents. Post Dated
Cheques (PDCs) dated 30 days from the date of booking for balance amount of
20% sale value needs to be submitted.
9.What Happens There After?
Prestige Park Square is an upcoming residential community, developed by
Prestige Developers and is located in Gottigere, off Bannerghatta Main Road,
10.Where and what is Prestige Park Square??
A formal letter-of- agreement will be issued upon realising 20% of initial value
and submission of Post Dated Cheques (PDCs) for the remaining instalments
within 15 days. The Agreement formalities will follow thereafter.
11.When do I get Confirmation about an Allotment?
As mentioned earlier, on payment of 20% of the sale value along with PDCs for
remaining amount, your allotment would be confirmed.
12.Can I make a 100% Down payment?
Yes, you can. But this offer is valid only for limited timeframe. You can get in
touch with our sales team for more information on this option.
13.Mode of Payments for instalments and its Time bound?
The mode of payment is through Post Dated Cheques (PDCs). The payment
schedule document provides an in-sight of time-bound criteria.
14.What happens if I cancel my Booking?
The cancellation fee of 1% of the sales value will be rebated, if cancelled before
Agreements and 15% of the Sale value will be deducted after agreements and
balance would be returned.
15.What about Car Parking Space?
One Car parking space is allotted for every apartment. Additional parking
requests will be appropriated towards project completion and the allotment
completely depends on the availability.
16.Are there any issues with the Title of the project?
Prestige Groups has got all required legal documentations verified by leading
law firm. The legality of the land is absolute, freehold and marketable.
17.What about the Approvals?
The project development plans have been approved by BDA. The
Environmental clearance has been attained and BBMP approval has been
18.What are the Agreements that needed to be signed?
- Agreement of Sale
- Agreement to Construct
- Sale Deed at the time of possession
19.What is process of Assignment?
Assignment gets confirmed after the validation of Agreement copies followed
by submission of PDCs, payment of 3 installations and with the consent of new
party abiding fully to the terms and conditions of the principal agreement.
Transfer fee as applicable has to be paid. If you have availed of a loan, then you
will be required to retrieve and hand over all letters and documents issued by
Prestige to the Bank/Housing Finance Institution along with their NOC (No
20.Details about the compensations, if there are any delays in construction and
We at Prestige make all possible efforts to complete the project within the given
timeframe. However, if the development is delayed for unanticipated reasons,
then Prestige will pay 8%* per annum on the amount collected, which will be
clearly brought out in the agreements (*Conditions apply).
21.What are the other addition amounts to be paid?
The BESCOM & BWSSB charges, Maintenance Charges, Power Backup
charges, Registration charges, Khata Assessment Charges, VAT and Service
Tax should be paid as per the norms at the time of possession.
22.What about Maintenance of the Property?
The Property maintenance would be done by Prestige Management and Services
and will attract certain charges as applicable in this regard.
23.Has Prestige Park Square been approved by banks/housing finance
institutions (HFIs) for loan?
Yes, approvals from all leading Banks/HFIs will be acquired, and they will
provide loans to our customers based on their eligibility criteria.
24.What is my responsibility for disbursement of the instalments through
The timely disbursement of instalments from the concerned HFIs is the
responsibility of individual customers. A letter of consent has to be provided by
the customers which will facilitate trouble-free payment transactions. Post dated
cheques (PDCs) handed over for the instalments will be returned on receipt of
the payment from the HFI.
25.What is the Scheme for maintenance?
An amount of Rs. 50 per sq.ft will be charged as advance maintenance fee for
the first year which will be collected at the time of closing your account. From
the second year onwards, maintenance charges will vary as decided by the
Association/Prestige Property Management & Services.
An additional amount of Rs. 50 per sq.ft of super built area will be levied as
sinking fund. This amount will be staked in an Escrow account and the pertinent
amount will be used for major expenses.
26.What happens if I have any more questions/clarifications?
Please feel free to put forth your doubts and queries through our website. All
your questions will be taken up within a definitive timeline. We can also be
reached at this Number.