PRESTIGEGARDENIA ESTATES PHASE II

Prestige Gardenia Estates Phase II is a 20-acre luxury plotted development with around 200 villa plots. It is the extension to the delivered Phase I community in Devanahalli and the land is rectangular and contiguous with direct frontage to the Satellite Town Ring Road and depth to a central clubhouse precinct. The planning is structured on an 18 metre core spine, 12 metre secondary loops and 9 metre tertiary access roads. It is the embodiment of a hierarchy that directs through-traffic around the residential groups not through them. No plot fronts a major roadway.

Plots are grouped in clusters of approximately 12 to 20 plots and there is one secured cluster entrance. The entry configuration is a 2,000 sft plot, sized to suit a traditional 3-4 BHK villa with garden setbacks on all four sides with 3,000, 4,000 and 6,000 sft, and custom measurements given on request when the formal launch approaches. The best directions for Vaastu are along the east and north sides of each cluster and corner plots at the cluster intersections. There are larger custom-sized plots on the outside perimeters where the shape of the property allows a wider frontage.

All plots have pre-installed services at the plot line. Twin UPVC water supply, sewerage piped to a dedicated on-site sewage treatment plant, underground power from transformer yards via feeder pillars and fibre-optic conduits for high-speed connectivity. This means you can build the home without waiting for the utility to hook up.

Amenities include a fully equipped clubhouse, swimming pool, gymnasium, multi-purpose sports courts, children’s play areas, pet-friendly strolling areas, party lawn, garden pavilions and landscaped courts. The longest walk from any plot to the clubhouse is still under six minutes. We are presently gathering expressions of interest at indicative pre-launch pricing of Rs 8,500/- per sft and will be allotting priority numbers in the order of EOI submission.

Devanahalli is the northern most developing area of the Bangalore Metropolitan Region and is the most active investment corridor of the city currently. The locality is also being shaped by the intersection of four powerhouse factors as mentioned earlier. The property is near to the Satellite Town Ring Road linking to NH-44 (Bellary Road), the airport corridor and city core.

Some of the international schools like Stonehill, Canadian International, Embassy Academy and Harrow Bengaluru located within 5-18 kms. Multi-speciality hospitals like Akash, Leena, Manipal Doddaballapur and the larger Hebbal cluster are a matter of minutes to 30 minutes depending on the occasion. The hospitality will be taken care of as well due to the presence of the JW Marriott Prestige Golfshire and Taj Bangalore Airport in the vicinity.

Foxconn’s $2.56 billion facility is the greatest employment anchor, with planned dormitory housing for about 30,000 workers. This is one of the greatest infrastructure investment stacks in the country with an active or planned spend, now projected at over Rs 50,000 crore, including aerospace, defence and precision manufacturing tenants in the KIADB Aerospace SEZ and more.

Investors are interested in price track history. The pricing for planned developments in premium Devanahalli have gone up from Rs 2,800 per sft in 2019 to Rs 7,500-10,000 per sft now. It's a 3x base in 5 years. The corridor level appreciation is estimated to be 8-15% annually. Land values around the Foxconn complex are expected to continue to rise with the further build-out of the metro and airport corridor. The current Devanahalli entrance window through EOI is an early Phase II release, within the formal-launch escalation band.

Bangalore is outperforming other Indian metros on the factors that are most important for a long-term land investment. The airport-corridor growth, the build-out of the Aerospace SEZ and the migration of high-income professionals to the Hebbal-Yelahanka-Devanahalli area have particularly helped North Bangalore.

The economic engine of Bangalore is built on three durable strata. First, the IT and software services spine across Whitefield, ORR, Manyata, Bagmane and the bigger EPIP corridor that keeps creating capacity and high wage jobs. Secondly, the current level of output. The Aerospace SEZ, Boeing’s announced engineering centre and the broader electronics-and-aerospace cluster that is sprouting up around Devanahalli, with Foxconn being a part of it, is transforming Bangalore from a pure-services economy to more mixed industrial footing. The third is the international layer, it has the airport, the consulates, the multinational headquarters, which makes the city the default South Indian gateway.

Bangalore is still one of the most liveable cities in India. It has a year-round temperate climate, a deep cuisine and culture scene, good international schools and a cosmopolitan population profile that works for end users and NRI buyers. For a buyer looking for a place to invest in a long-duration land position, the city’s mix of job depth, international link and quality-of-life indicators is not likely to be available in any other single South Indian market.

The most aggressive infrastructure project under construction today is the airport corridor, especially in Bangalore and Devanahalli. The northern strip is where the STRR, metro Phase 2B, NH-44 expansion and Foxconn-anchored Aerospace cluster join. This is the kind of stack that guarantees both capital appreciation and sustainable rental demand when villas are developed, for HNI and NRI investors – a premium developer (Prestige), a premium product (gated plotted) and a premium corridor (Devanahalli airport axis). The investment theory is based on the convergence.

Prestige Gardenia Estates Phase 2 Pre-Launch. K-RERA registration number for Phase II is under process and will be publicized at the time of formal launch. The project is being built as per Prestige Group’s standard plotted-development approval system with BIAAPA / BBMP plan sanction underway and environmental clearances in progress. Once registration is done, Prestige Gardenia Estates Devanahalli RERA documents will be published on K-RERA site for verification.

The Real Estate (Regulation and Development) Act, 2016 is the key legislation for buyer protection applicable to all registered real estate developments in India. RERA registration provides a tangible benefit to a buyer. The mandatory disclosure of land title, project cost structure, sanctioned plans, the build schedule and the use of buyer receivables by the developer; the prescribed use of an escrow account for project receivables; and penalty cover for any deviation from the developer’s RERA-disclosed plans. Quarterly progress filings enable all buyers to check the build status at any time on the K-RERA portal.

Expression of Interest is now accessible as a no obligation, refundable register of interest. Priority number for plot selection will be granted on formal launch EOI. The EOI deposit is refundable until a formal booking is made. Once the project is officially registered with RERA, the EOI becomes a formal booking, and the Sale Agreement is performed at the pre-determined pre-launch cost. At this point of booking all the exact plot measurements are determined. The per-plot charge includes PLC, the maintenance corpus, and the clubhouse membership.

The project is RERA compliant and comes under the land-title regime of Karnataka. With a 30 year track record in different corridors of Bangalore, Prestige Group has typically given clear titles, registered conveyances and post handover compliance support. The present state guidelines require the Karnataka Stamp Duty & Registration Charges to be around 7.65% of the value of a registered plot. Where infrastructure is given independently to plotted developments, there is no GST on the land component.

Prestige Estates Projects Limited (popularly known as Prestige Group), formed in 1986 and headquartered in Bangalore, is one of India’s leading real-estate developers. The group is listed on BSE and NSE under PRESTIGE ticker with institutional grade disclosure responsibilities under SEBI’s listing structure. In its three decades of operation, Prestige has built a diversified portfolio encompassing residential, commercial, retail, hotel and leisure properties. It is one of the few Indian developers that operate at real scale across several asset classes.

Prestige has a presence in Bangalore, Hyderabad, Chennai, Kochi, Mumbai, Delhi NCR, Goa, Mangaluru and Ahmedabad. The Bangalore footprint being the deepest and most defining for the brand. The group’s hospitality anchors consist of the JW Marriott Bengaluru Prestige Golfshire Resort & Spa, and Conrad Bengaluru. It also has an extended range of premium serviced and luxury hospitality assets. Prestige is one of the leading retailers in South India and has one of the largest mall portfolios encompassing the UB City and Forum chain footprints.

In particular, Prestige has set the benchmark of what a premium planned address looks like in the plotted market. They have larger than segment average site sizes, deeper amenity stacks, fully subsurface utility provisioning and tight gated community implementation. Phase I of Prestige Gardenia Estates is in the same corridor as Phase II and presently functions as a delivered, occupied community. The most immediate credibility anchor a Phase II consumer has while looking at the new launch plots in Devanahalli by Prestige.

Prestige is one of the most institutionally followed listed developers in India in terms of governance and capital. This is followed by leading local and foreign investment banks, structured quarterly disclosures, occasional investor updates and a well-established collaboration with the major Indian house loan financiers. The property has pre approved finance facility from HDFC, SBI, ICICI, Axis, LIC Housing Finance and Standard Chartered for the purchasers. With an unbelievably low risk way, one can purchase a premium planned home in north Bangalore, with Prestige Gardenia Estates Phase II, Devanahalli, which is a mix of brand, financing sheet, listed governance and corridor track record of the developer.

Prestige Gardenia Estates Phase II is a plotted property. This implies the land itself is being sold and the buyer owns the plot fully and is free to commission a villa design and build it within conventional BBMP and BIAAPA setback rules. This is a structurally different proposition to buying a constructed apartment. The land is the asset, the construction is the buyer’s own (timed, scoped and planned to the buyer’s tastes), and the underlying land continues to appreciate irrespective of any structure that stands on it.

In growth corridors such as Devanahalli, planned format has always beaten apartments on a long duration basis due to three structural reasons. Firstly, there is a scarcity of land. Its supply doesn’t expand with demand, making it the purest hedge against urbanization and inflation. Secondly, plots do not suffer the depreciation that erected structures invariably have. A plot’s price is basically a reflection of the land market, while the sales price of an apartment is greatly influenced by the age and condition of the building. Third, plots have building timing optionality. A buyer can wait for appreciation, build immediately or build later with no holding expense except the normal maintenance corpus and statutory dues.

Specifically, in the gated plotted format, Prestige Gardenia Estates Phase II provides the appreciation flexibility of raw land with the lifestyle infrastructure of a planned community. The development infrastructure is provided with a central clubhouse, 35+ amenities, underground utilities terminating in-plot, tiered security system, paved roads and manicured open areas. The customer is buying into a serviced, secured neighborhood not a raw undeveloped tract. The positioning makes premium planned developments compete for HNI capital along with built villas and luxury apartments in the corridor.

For end-users the format offers a custom-built villa, according to the family’s particular demands. It has a bedroom mix, garden, pool, parking, multi-generational layout within a secured address with complete amenity access. Investors, on the other hand, gain from land-banking optionality, together with the appreciation tailwinds of the corridor. NRI buyers are more inclined to the plotted format since it reduces the difficulty of the continuing upkeep and enhances the exposure to land-asset. For all three buyer types, Phase II release is at an uncommonly clean entry point: pre-launch pricing, gated community plots in Devanahalli at scale, and delivered Phase I as the credibility anchor.

The investment thesis for Prestige Gardenia Estates is based on a confluence of mutually reinforcing factors like corridor, brand, scarcity and first mover advantage into pre-launch. Each makes the other stronger and they combine for an extraordinarily clean case for committing capital into North Bangalore at this juncture in the cycle. Land values in the neighbourhood are predicted to continue to increase in line with the metro and Foxconn-anchored corridor build out, with the wider Devanahalli pocket projected to see 8-15 percent annualized appreciation.

Here there are four anchors which do not converge anywhere else in Bangalore. First is the Foxconn iPhone campus creating long term housing demand from senior staff and supplier executives. Second is the Kempegowda International Airport supporting rental demand from airport-adjacent professionals and a structural premium of 12-18% over similar plots without airport adjacency. Third comes the KIADB Aerospace SEZ with aerospace, defence and precision manufacturing employment. The forth anchor is Phase 2B Blue Line metro extension under active construction. In the past, micro-markets in Bangalore have witnessed prices rising by 20-30% within two years of the inauguration of metro stations. This is the tailwind of appreciation buyers of plots near impending metro Devanahalli are depending on.

Branded designed developments at 20-acre single developer scale with this depth of amenity and infrastructure beneath are unusual in the corridor. Land prices have tightened more broadly. Prestige’s produced Phase I is underpinned by a basically a one-off credibility position in Devanahalli envisioned. The pre-launch pricing during the entrance EOI window is ahead of the formal-launch escalation band that has usually seen 8-12% each phase-to-phase rise among comparable Bangalore planned launches.

On the returns front, plotted developments in the corridor have delivered an appreciation of roughly 35-45 percent over five years as opposed to the broader Bangalore real estate average of 25-35 per cent. Once villas are built, gross rental returns along the corridor are normally in the 3.5-5.0% bracket, driven by corporate leasing demand from Foxconn and aerospace. The land & villa investment is a hybrid investment offering the property appreciation case with the rental optionality of a completed villa supported by the brand’s resale-liquidity premium of 15-25% over equivalent unbranded planned commodities.

Prestige Gardenia Estates Phase II is a pre-launch project and presently there are no Phase II occupants on the property. And so if you look at honest commentary on Phase II, it really is looking at early reception during the EOI window and throughout that window the feedback we've been getting from buyer conversations has really been laser focused on three things: the Foxconn anchored corridor case, the brand's Track Record Phase I and the appeal of pre-launch pricing ahead of formal launch.

One thing we do know is that Prestige Gardenia Estates Phase I lived up to its promise. Today you can observe the buyer comments and resident experience in the corridor, it is an operational community. Residents have already seen the benefits of Phase I. This includes honors for road and utility infrastructure, the central clubhouse precinct and the security system. Phase I resales are moving quicker through 2025-2026 and the secondary market pricing is following the bigger Devanahalli appreciation curve.

The most important thing a potential Phase II purchaser can do before submitting an EOI is to visit the Phase I site. Here they may observe the road grid, the clubhouse precinct, the cluster design and the build quality up close. The Phase II proposal is on the same template, same Prestige Group design discipline and same amenities baseline. After substantial questions, Phase I site inspections and Phase II walkthroughs are conducted. This is the quickest way to read what Phase II will deliver and not to rely on any 3rd party written review report.

During EOI discussions, buyers often focuses on a few questions like refundability of EOI deposit, priority number mechanism for plot selection, timing of formal launch and treatment of PLC for Vaastu-preferred and corner plots. We address questions directly in the FAQ below and in more detail in the project brochure and tentative cost sheet supplied on serious inquiry.