Category: Horamavu

Horamavu is an area in Bangalore in Indian state of Karnataka. It is a rapidly growing suburb, which is adjacent to other areas.

Prestige Gulmohar

Prestige Gulmohar
Project Summary
Properji Score
Segment Luxury

Property Type Apartments
Units 2BHK, 2.5 BHK, 3BHK

Total Units 404

Price Rs.5000 – 5,300 per sqft Updated on Feb 10, 2017

Pre-Launch Date Aug, 2013
Launch Date Feb, 2014
Possession Date Jun, 2019
Amenities
Clubhouse, Swimming Pool/ Kids Pool, Badminton Court, Billiards/ Snooker, Party Hall, Gymnasium, Health Club, Indoor Games, Change Rooms (Ladies/Gents) with provision of Steam, Sauna and Massage room.
Water
Borewell
Power
BESCOM, Backup Generator
Carpet Area
72%
Total Area
3.27 acres
Land Holding
Joint venture
Project Description
About Prestige Gulmohar
Prestige Gulmohar is located at Horamavu Main Road, Banaswadi Bangalore. It is a rapidly growing suburb, which is adjacent to other areas such as Banaswadi, Kalkere and Ramamurthy nagar in North Bangalore. The Krishnarajapuram railway station, an important railway junction in Bangalore, is 3 km away. Prestige Gulmohar is spread across 3.27 acres and launched in Feb 2014. It is expected to be completed towards Jun 2019.
Project Analysis
• Approvals status: All Approvals obtained
• Demand analysis: Horamavu is situated in a very strategic location, it is about 10 kms from M.G Road. Horamavu is a ward spread over 14 sq km in KR Puram assembly constituency on the outskirts of East Bengaluru. There is a consistent demand of IT and ITES companies in this area which attracts the IT employees to invest in Horamavu.
• Amenities: Clubhouse, Swimming Pool/ Kids Pool, Badminton Court, Billiards/ Snooker, Party Hall, Gymnasium, Health Club, Indoor Games, Change Rooms (Ladies/Gents) with provision of Steam, Sauna and Massage room.
Payment Details:
Booking Amount : 20% of the Sale Value
Floor Rise: Rs.15/sq ft per floor
Preference Location Charges: Rs.50/100
Apart from the above additional charges towards utilities, clubhouse, registration, legal, etc will be extra.

Unit Types
Unit Type Total Units Area Base Price
2BHK 72 1169-1224 sq.ft 58.45L – 61.20L
2.5 BHK 69 1370 sqft Rs. 68.50 lkh
3 BHK 342 1585-1636 sqft Rs. 79.2 – 81.80 lkh

Price Comparison With Nearby Projects
• Low pre launch price, despite very good connectivity and favorable location near offices and shopping complexes, has led to very high investor and end user interest in this property
• Kolte Patil Mirabilis located across the road is priced at Rs.5020 per sqft. Mantri Webcity which is located on Hennur main Road, just 6 Kms from Outer Ring Road is priced at Rs.5100 per sqft.
• The project is targeted primarily at the middle class segment and people working in the surrounding areas. With a very good catchment area, and a lower entry price compared to other projects in the location, the project was good for short term investors, but now the prices have stabilized to comparable projects in the surrounding.
• The current entry price is slightly on the higher-end when compared to other projects in the vicinity. This could be justified considering the builder’s reputation, strong location and excellent demand when the project was launched.
Neighborhood Overview
• The neighborhood consists of numerous commercial office developments and commercial complexes. This colony is well connected by Banaswadi Main Road, Hormavu Main Road and 100ft road and for commuting by railway route; the nearest railway station to this colony is Banaswadi station. In this area Siachen army regiment is located and there is a separate colony named Jai Jawan nagar dedicated to the army is also sited in this region. Kammanahalli, Jayanti Nagar, Rammurthy Nagar are the areas comes under Banaswadi.
• This region is ultimate residential area with commercial shops and trading centers, excluding this one could see presence of many temples over here the famous Veeranjanaya Temple, Aiyappan Temple, Panchamuki Ganesha Temple, Kodanda Raman temple are to name a few.
• New Baldwin Residential School, St. George College Of Management & Science, BET college, Bangalore City college, Vivekananda college are some of the renowned educational institutions established over here.
• There are several hospitals like Genesis, Satya Sai Baba Hospital, Dewans Hospital and Narayan Nilaya Maternity Hospital, Banaswadi Hospital providing quality medical services to the residents.
• Despite of being residential area industries are also established here, to name few business firms are Hyper Drive Information Technologies Private Limited, Sedvik Industries.

Project (Properji Score) Builder (score) Location (score) Launch date Possession date Total units Total Area Price / sqft
Kolte Patil Mirabilis Kolte Patil Developers Ltd Horamavu Feb, 2014 Aug, 2018 735 8.25 acres Rs.6,120
Mantri Webcity Mantri Developers Pvt Ltd Hennur main Road Nov, 2012 Mar, 2017 876 21 acres Rs.7,000

Appreciation Potential
• The project was initially opened at a price of Rs.5000 per sq. ft. and had risen to Rs.5300 per sqft. in 1 year, which represents a steep appreciation.
• Given that the prices have reached higher levels we expect future price appreciation to be moderate. However, future infrastructure developments could provide additional scope for appreciation.
• For instance the proposed Metro station at Kudlu gate is expected to be operational around 2019, when a price increase can be expected.
• The location is a strong point given the presence of good road infrastructure and expressways and proximity to various companies and other offices in Banaswadi, Kalkere and Ramamurthy nagar.
• Owing to the proximity to Banaswadi and Krishnarajapuram railway station, rental returns will also be higher due to the demand from various working professionals.
Existing Infrastructure
• The location of the project is very good in terms of connectivity to Work locations in and around the area.
• Currently most of the social infrastructure is already in place and also the accessibility is very good from all parts of Bangalore North.
• BWSSB pipeline has reached very close to the existing project site and once its functional, the project will get access to the same.
Future Infrastructure
• The area has good social infrastructure and also many government projects in pipeline.
• Metro has been planned in this location and the Kudlu Gate station will be opposite this project site.
• There is a proposed metro line from Central Silk board to Nagawara junction which will run along the outer ring road.
• The area is currently developing at a rapid pace and thus traffic congestion is already high, but the presence of essential social infrastructure makes it a good area to live in
• There are a lot of Bio pharma companies that are looking to setup offices in this area and this area will have further demand for housing in the future
Locality Review
• Excellent location with very good connectivity to Electronic city as well as to CBD and ORR
• The road is well connected with most parts of South Bangalore
• Very good social infrastructure is in place in terms of reputed hospitals, schools and malls
• Highly sought after location as its very close to most of the work locations in Electronic city, Sarjapur Road and ORR
• Property appreciation as seen in the curve has been steady in this area owing to the consistent demand from the IT and ITES sector in Electronic City. Also there is a demand due to the work locations in ORR and Sarjapur Road.
Location Ground water
Low but might get BWSSB supply around possession from nearby pipelines already laid by BWSSB

Project Risks
• The project is being developed on a joint venture basis with Purvankara being the development partner. Hence no absolute control over the land. Previously the site had some civil suits which have currently been cleared with out of court settlement.
• Hosur Road is generally overcrowded during peak hours and this could become worse once the Namma Metro rail construction begins. Hence short term appreciation will be low.
• The project is being developed on a small land parcel, this will reduce open space in the area and the project may be a little clustered. Some similar projects in the vicinity offer atleast 60-70% open spaces as against less than 50% by this project.
• The metro at Kudlu junction will be right opposite to this project. This may cause some disturbance to the residents as there is no much buffer zone between the project and the proposed station.
• The balconies in the project are not complete balconies, they are juliet balconies which are generally shallow and are more prevalent in colder countries where long periods of low temperature means people are not using the balconies often. But this may not suit a project in a tropical climate as a large balcony aides in the overall spaciousness of a flat.
Locality Risks
• Hosur Road could see very high traffic at certain times of the day as traffic density on this road is among the highest in Bangalore. However, this is mitigated to an extent by the expressways in the area.
• Many parts of Hosur road in Electronic city phase I and II are maintained by ELCITA, which is an association of all the industries in E.City and other parts are maintained by BBMP and gram panchayaths, so there are areas were public works such as roads, street lights etc are not well maintained as the 3 associations are trading the responsibilities to one another.

Fortuna Krrish – Horamavu

More About Fortuna Krrish

“Where customers can pay 20 % at the time of agreement & rest 80% amount at the time of possession”Offer Available for limited period”.
Fortuna Krrish
When you come home you want it to be your sanctuary? Welcome to calm, peace and community living with connectivity to city. Unmatched features at down to earth prices. We care for customer and give any house/flats that special touch which makes it a home. Fortuna krrish consists of 150 units of 2&3 BHK. As per Vaastu with no common walls between apartments makes it a sought –after dwelling with privacy and community living. The project is just 1 KM from the Proposed express road to international Airport & 2 KM from the Banaswadi Ring Road.