From a swampland to a real estate hotspot – the skyline of Koramangala has transformed completely over the last decade thanks to the IT and start-up revolution in the Silicon Valley.
Located in the south-eastern part of the city, Koramangala today is one of the toniest pin codes in Bangalore. Adding to its appeal are several skyscrapers, malls, colleges, restaurants, and pubs.
Due to the limited availability of land and high property prices, there are only a handful of new projects that are coming up in the area. Currently, capital values here range anywhere between Rs 10,000-20,000 per sq. ft.
Continuing our series of unbiased project reviews, we paid a visit to Pine Woods, an under-construction project by the Prestige Group. Here’s what we found.
Launched in February 2015, Pine Woods is a premium project sprawling across 2.56 acres. It offers a total of 256 units in 2/2.5/3 and 4BHK configurations. These units are spread across three towers.
Currently, under construction, the project is slated for possession in July 2019.
Price: Rs 1.58 Crore onwards.
Location and accessibility
Pine Woods is located at 6th Cross Road, S.T. Bed Extension, Cauvery Colony, Koramangala.
It enjoys good connectivity to other parts of the city via the Inner Ring Road, Sarjapur Road, and the 80 Feet Road.
Shopping: The Forum Mall, BDA Shopping Complex, and Sony World.
Educational institutes: Bethany School, Lawrence, MAAC, St Francis, and Chinmaya Mission.
Healthcare: St John’s Hospital, Apollo Cradle, Devi Eye Hospital, Acura Hospital, and Sri Venkateshwara Hospital.
Work: Mind Tech, Flipkart, Toshiba Software, and Bosch.
The Vaastu quotient
All the units in Prestige Pine Woods are Vaastu-compliant. The main doors of the apartment face the North, East, or West. Also, the entry to the project is in the North-East direction.
Additionally, all the units are designed in a specific way to get maximum lighting and cross-ventilation for most of the day.
The below table indicates the BHK-level details along with carpet area.
At the time of writing this review, the ongoing per sq. ft. rate is Rs 12,500. The project launch price in February 2015 was Rs 10,500 sq. ft, indicating an appreciation of about 19% in the last three and a half years.
There is no preferential location charge for this project.
So far, the profile of the buyers includes “Managing directors, senior executives, doctors, chartered accountants, software engineers and advocates to small and medium scale businessmen, and NRIs,” informs Raghu Nandan, Senior General Manager, Sales and Cluster Head of Prestige Group.
Pine Woods has all the requisite approvals in place, including approval from the Bangalore Development Authority, and is RERA-registered.
The finer points
I checked the model flat for a standard 3BHK apartment.
The master bedroom and bathroom have imported marble while the other bedrooms have vitrified tile flooring.
The balconies come with anti-skid ceramic tiles. Except for one bathroom, bathrooms are equipped with geysers and a glass partition.
• 2 and 2.5BHKs come with an utility area and one balcony.
• In 3BHKs, the utility room as well the room for support staff are attached to the kitchen. Also, there are two balconies- one attached to the master bedroom and the other one to the living area.
• 4BHKs come with the same features as a 3BHK with an additional pooja room.
• All the three towers in the project are stand-alone towers with easy accessibility. I found that the units were fairly well-ventilated.
In terms of amenities, there is a Clubhouse, which will have a private home theatre, a squash court, swimming pool, gym, table tennis, billiards, health spa, and children’s play area.
There is also Cauvery water supply. Additionally, the project has GAIL piped gas line, 24-hour power back-up for the entire home (at an additional cost), and fibre-to-home Internet connection.
The project has three towers with two basements, ground + 14 floors. The structure of the entire building along with the block work and plastering has been completed. The painting work for all the three towers is in progress.
The Clubhouse is 75% complete, and the false ceiling work is under progress.
About 65% of the total number of units are already sold.
Why? For the location and construction quality.
If you are looking for a premium home in a posh location, visiting this project might be a good idea. If you need any assistance during your site visit, our Home Buying Advisors can always give you a hand.