Prestige City investor concerns: power backup claims true?
Did a site visit to Prestige City on Saturday and honestly wasn't expecting this. Talked to a few residents there, and the power backup situation seems really dodgy. Sales guys promise 100% full flat backup, but residents are saying it's mostly common areas, maybe one light/fan point per room. How does that even work for tenants? My parents keep saying these things are always an issue, but I had no idea it'd be this bad. Also, water supply, apparently they're super dependent on tankers. My budget is around ₹78L for a 2BHK. I'm worried about attracting good tenants with these basic utility issues. For investors, isn't reliable power and water crucial for rental income stability and resale value? Is this common for new projects in Bengaluru? What did others do about these discrepancies?
Comments
Totally relate to this! My sister bought a flat in Aavalahalli two years back, and same story. Sales ne bola 24/7 Cauvery water, but it's 70% tanker supply even now. Power backup is only for common areas and one light in the hall. They had to get an inverter themselves. It's a huge hidden cost and a daily hassle. Bengaluru mein developers promise the moon, but you get a rock.
This is
So what did your sister do eventually? Did they complain to RERA or form a residents' association? I'm worried about facing similar issues if I book a flat.
Sahi keh rahe ho. The current market conditions in Bengaluru, especially for new projects, are so competitive that developers are promising everything to close sales. But jab handover ka time aata hai, toh sab change ho jaata hai. This is a big concern for investors looking for rental yield.
Dekho, every project has some initial issues. Prestige is a big name. Maybe those residents were just disgruntled? Sales guys ka toh kaam hai bolna, but 100% backup is rare for flats in this budget.
Yaar, exactly my thoughts! I visited another project, not Prestige City, but the sales team was spinning stories left and right. Power backup ka toh sab bolte hain full, but ground reality kuch aur hi hoti hai. This is why I'm so scared to commit. Mera budget bhi almost same hai for a 2BHK. Bengaluru mein ye common hai kya ab?
Which phase did you visit? Maybe it's specific to certain towers? My friend heard good things about Phase 1.
Haan bhai, common hai. RERA number PR/200821/004260 toh hai inka, but RERA bhi kya karega agar builder deliver hi na kare promised specs?