Prestige Lakeside Habitat Review
- Reliable builder with a known track record. Prestige has a long list of successful projects in Bangalore with some very well known landmarks - both residential and commercial
- Nice master plan with beautiful villas and apartment designs. The villas have a touch of understated luxury and the apartments are well spaced.
- Strategically located between Sarjapur and Whitefield the two largest IT corridors in Bangalore, near Varthur lake. Away from the busy IT corridors but in a reasonable distance to travel to work. Whitefield is about 8 kms and Sarjapur flyover is about 11 kms. There are several Tech Parks in the vicinity. We counted at least 10 in the 3 to 7 kms range. Nearest Tech Park is the Sigma Tech Park at about 3 kms from the property
- Plenty of open space within the township, which according to Prestige - About 80 acres of the land, is earmarked for landscaped open spaces.
- Well arranged floor plans with reasonably sized bedrooms. For apartments the smallest master bedroom was 11x12 and the largest 12x16. For villas, the smallest master bedroom was 12x18 and the largest 16x19. All villas also have a private back garden. The room sizes are not the largest we have seen but is well balanced for better overall cost to you.
- Plenty of luxury amenities with 4 club houses, several courts for games and a mini golf course. One of the club houses is said to be150000 sqft in size - the largest in Bangalore.
- Nice shopping malls nearby with Forum Value Mall and InOrbit Mall in the 3 to 4 kms range. Go a little beyond that and there are more options like Total Mall, Ascendas Mall etc.
- Huge selection of International and other public schools in the vicinity. Chrysalis School is right next to the property. There are at least 6 International Schools in the 3 kms range. There are also several medical, engineering and management colleges in the 5 - 8 kms range.
- There are at least 6, really good hospitals in the 4 to 6 kms range like the Sathya Sai Hospital, Narayana Multi-Speciality Hospital etc.
- If you were expecting to have a home right next to the lake then this may not be that property, although you may be able to get an apartment with a view of the Varthur lake. The lake is about 2 kms away. To your consolation, this is not necessarily a bad thing, as being too close to a lake can mean plenty of mosquitoes as we have seen in other lake side properties.
- Heavy traffic on the way to Whitefield. The road definitely needs expansion.
- No Cauvery water. However plenty of ground water is available given the proximity to Varthur lake.
- No Metro Station nearby. If you are mostly a car user and never plan to use the metro, this may not be an issue. The nearest train station is about 3 kms away at Bellandur (Not Metro)
Prestige Constructions is a ISO 9001 company and has been in the construction business since 1956. Since then they have successfully delivered 184 projects across south India and have another 50+ projects that are ongoing. They have won several awards like FIABCI award, the DA-1 Developer rating from renowned rating agency CRISIL, the prestigious D&B Awards for being the Top real estate company, Bangalore Hot 50 Brands, International Property Awards, CNBC Asia-Pacific Property Awards etc. They are also a publicly listed company with listings on both NSE and BSE which means they are publicly accountable and required to be transparent. Very few buiders have a track record like this. We have reviewed some of their completed and recent projects and are convinced that they can deliver. We give them a rating of 9.4.
At the time of writing this review the average price in this area is about Rs. 5020 per sqft. Prestige Lakeside Habitat is about Rs. 200 more than average prices but we think this is reasonable given the quality of this project. Average prices include all projects including many of the smaller projects, so it is not fair for us to expect Prestige Lakeside Habitat to be at the average price range. Apartments at Prestige Lakeside Habitat are priced around Rs. 5220 per sqft. We think the apartments and also the smaller villa plans are priced right. The villas start at Rs. 7650 and go all the way upto Rs. 8250. Villas have a larger land share so we understand why they cost more. However we feel that the price escalation for larger villas was not necessary. The 8.0 rating reflects our dissatisfaction with the price escalation for larger villas.
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Prestige Lakeside Habitat offers a wide array of floor plan choices. There were a few plans that we did not like, especially the ones with all the bedrooms together on one side. I personally like at least one of the rooms to be a little away from the other rooms, so I can use it as a guest room when I need to. I also like one large balcony rather than having 3 or 4 different small ones. However needs and tastes differ across people, so what you like may be something completely different. Prestige Lakeside Habitat has so many different plans that you are bound to land on something that fits your expectation. The plans that we liked most were in the 1655 and 2044 sqft sizes. Even though we wish the bedroom sizes were a little bit larger, we are still giving them a 9.4 due to the amount of different choices available which means most people will be able to find something that they will like.
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The Prestige Lakeside Habitat location has a lot of IT companies nearby with companies in both Whitefield, Sarjapur and the other software technology parks in between. We counted at least 10 large ones just in the 3 to 7 kms range. There are lots of Pizza shops, chinese, mexican, american and Indian restaurants nearby (2 to 3 kms range). Some excellent hospitals around this neighborhood like the Sathya Sai Hospital, Brookfields Hospital, Narayana Multi-Speciality Hospital and many more. Education institutions like International schools, engineering and medical colleges are plenty in the area. One of the schools (Chrysalis) is right next to the property. The rest of the schools are in the 1 to 3 kms range. Forum Value Mall is the nearest mall to this property. There are about 8 malls in the 3 to 10 kms range. So as you can see this is a pretty great location but you might wonder why we gave a such a harsh rating of 7.0 for the Prestige Lakeside Habitat location. We had to do it because of the peak hour traffic to whitefield which can be a lot and the fact that there is no metro to this location.
As you may have already read in the ‘Positives’ section above, Prestige Lakeside Habitat has the largest club house in Bangalore. In addition to that they also offer 3 more club houses for this property. Prestige Lakeside Habitat offers all the regular amenities you would expect like swimming pools, tennis courts, amphitheater etc, which most quality projects tend to have as standard, they also have a golf course in the property which is great. Their master plan also mentions that they plan to have a Retail Center. With all this they bag an excellent rating of 9.0 for amenities.
Prestige Lakeside Habitat gets a 8.6 for specifications. Villas obviously have more luxurious specifications but the apartment specifications are what you would expect from a good builder. They have vitrified tiles throughout the house, granite counter with stainless steel sink for the kitchen, Teak wood frame for main door and switches are modular. Overall the specs for Prestige Lakeside Habitat are good but nothing out of the ordinary, which is why the 8.6 rating.
Will Prestige Lakeside Habitat appreciate in value given all the facts above? Fair question. We think it will definitely appreciate. We have no doubt about that. However we rated them at 7.8 because of 2 reasons. 1. We feel the traffic situation needs to be addressed by the government agencies. While we know this will definitely happen at some point, at least at this time, traffic during peak hours will be an issue. 2. This area has appreciated fairly quickly and for quite a while now. We think it will cool its heals for a while waiting for the infrastructure to catch up, unlike North Bangalore where the infrastructure came first before growth started. For these reasons we think the appreciation will definitely come but could be slow in the next 3 – 5 years. Long term we feel this property will appreciate well. Bangalore has always surprised everyone when it comes to appreciation, so you never know. it can happen faster. We will keep our fingers crossed 🙂
PRESTIGE LAKESIDE HABITAT OVERVIEW
Prestige Lakeside Habitat consists of 3426 luxury apartments in 1, 2, 3 and 4 bedroom configurations as well as 271 luxury villas set in their own private gardens. The total area is about 102 acres. One captivating facet of Prestige Lakeside Habitat is the humungous 80 acres of landscaped open space it affords you. Talk about a breath of fresh air, this is indeed more than a lungful. You’ll be hard-pressed indeed to put your finger on another development that gives you open space that’s this expansive. Everywhere you go you will be enveloped in an ethereal, magical atmosphere that is both enthralling and reassuring.
- Aerobics/Yoga Room
- Badminton Court
- Basketball Court
- Children Play Area
- Cricket Pitch
- Cycling & Jogging Track
- Golf Course
- Indoor Game Room
- Skating Rink
- Squash Court
- Swimming Pool
- Lawn Tennis Court
- Multi-purpose Court
- 4 Club houses – largest in Bangalore
- Water Bodies
- Retail Center
|1195||2 Bed Apartment||62.37 L|
|1216||2 Bed Apartment||63.47 L|
|1346||2.5 Bed Apartment||70.26 L|
|1655||3 Bed Apartment||86.39 L|
|1697||3 Bed Apartment||88.58 L|
|2134||3 Bed Apartment||1.11 Cr.|
|2280||3 Bed Apartment||1.19 Cr.|
|2321||3 Bed Apartment||1.21 Cr.|
|2830||4 Bed Apartment||1.47 Cr.|
|2882||4 Bed Apartment||1.5 Cr.|
|3130||Villa Arista-1||2.39 Cr.|
|3117||Villa Arista-2||2.46 Cr.|
|4003||Villa Baylene-1||3.1 Cr.|
|4033||Villa Baylene -2||3.22 Cr.|
|4934||Villa Clara-1||3.94 Cr.|
|4827||Villa Clara-2||3.98 Cr.|