With the Real Estate (Regulation and Development) Act in place, pre-launch projects are regaining their lost sheen.
Real estate developers can announce a project before they even start construction. This is known as a pre-launch project.
These projects can prove to be a viable investment avenue, but only if the builder is reliable and has a successful past record.
You can also get early-bird discounts of up to 20% of the property cost, which is a way for builders to get enough people interested in the project to move ahead with construction.
Are you considering a pre-launch project? Confused about what to choose? Our Home Buying Advisors did the hard work and came up with five of the best pre-launch projects in Bangalore.
What’s more? When you book a unit with our Home Buying Advisory, you can get additional discounts on your preferred unit.
Sobha Lake Garden
Price: Rs 5,500 per sq. ft. | Location: Near KR Puram
Our Advisors were pretty excited about this one! Sobha Lake Garden is located near KR Puram, and although that locality has become notorious for traffic jams, this project promises an oasis of peace by a lake!
Spread across 8.9 acres, Sobha Lake Garden is expected to have 677 apartment units in 1, 2 2.5, and 3BHK configurations.
With amenities like a jogging track overlooking the lake and a kayaking corner, this project looks a good deal for all the nature lovers.
At present, the price per sq. ft. is Rs 5,500. Though a pre-launch, you can safely consider this project as it is RERA-approved.
Why invest in this project?
- Strategically located on the Outer Ring Road (ORR)
- Proximity to the IT hubs of Whitefield and Marathahalli-Sarjapur Road
- Competitive prices
Shriram Launch – Codename Take It Easy
Price: Rs 60-65 Lakh | Location: Whitefield
In the heart of Bangalore’s IT hub of Whitefield, this project by Shriram Properties is a perfect amalgamation of luxury and comfort.
Think of world-class amenities and elegant aesthetics, but at a competitive price! You get thoughtfully-designed 2 and 3BHK condominiums and duplex overlooking a 250-acre lake. It’s really luxury living at not-luxury-prices.
Spread over 9 acres, the project will offer 450 units. A 2BHK sized 1,150 – 1,300 sq. ft. is expected to cost about Rs 60-65 Lakh. And if you are lucky, you may get some early bird discounts as well.
“Currently, anyone looking to buy a home in Whitefield under Rs 1 Crore have limited options. But, Codename – Take It Easy, our upcoming project gives you the best of both worlds – a perfect work location and a resort-like weekend lifestyle and that too at a very tempting price,” says Arun Anand, Director Sales, Marketing and CRM and Vyoma Pandit, CMO, Shriram Properties.
Why invest in this project?
- Proximity to the IT hub of Whitefield
- Competitive pricing
- Great ROI
Rohan Upavan
Price: Rs 29 Lakh onwards| Location: Off Hennur Road
Located off Hennur Road, Rohan Upavan has garnered good interest from investors. It offers apartments in 1, 1.5, 2, and 3BHK configurations starting at Rs 29 Lakh.
“These days, when everyone is cutting trees to build homes, Rohan Upavan is a world of surprises. The homes are planned around a large 50-year-old fruit-bearing orchard of mango, chikoo, and coconut trees. There are amenities which you never hear of in a city housing project – treehouse, camping area, bio-retention pond, reflexology walkway, and organic vegetable garden” informs Abhishek Bhatewara, Head-Bangalore Business, Rohan Builders.
Commenting on the units, he says, “With multiple openings on both sides of every home, ample light and ventilation is guaranteed. The wide and unobstructed balconies either look into the dense orchard or towards the lake.”
Why invest in this project?
- Upcoming location
- Proximity to the IT hubs of ORR
- Homes with a lake view
Provident Northern Destiny
Price: Rs 5,685 per sq. ft. | Location: Thanisandra Main Road
Next, we have Northern Destiny by Provident Housing Limited. Located on Thanisandra Main Road, it offers 2 and 3 BHK premium apartments. Spread across 4.5 acres, the project will have about 400 units when complete.
A RERA-approved project, at present, it is priced at Rs 5,685 per sq. ft.
Why invest in this project?
- Good accessibility to the IT/ITeS hubs of Nagawara, Hebbal, and ORR
- Infra upgrades like the expansion of Thanisandra Main Road as an alternative route to the international airport and Namma Metro Phase-II
- Upcoming location
Embassy Spring
Price: Rs 1.15 Crore onwards | Location: Devanahalli
Last, we have the Embassy Springs in Devanahalli. This 288-acre development offers about 800 villa plots, apartments, row houses, and villas. In terms of amenities, it boasts of an iconic waterfront 12 acres club with built-in 5-star recreational facility spread across 3,00,000 sq. ft.
The starting price for the plots is Rs 1.15 Crore (all inclusive).
Why invest in this project?
- Proximity to the international airport
- Commercial development
- Proposed Metro Rail network under Phase II
A word of caution
Pre-launch projects have the highest risk when compared to other stages of construction. The status of approvals and unit plans are usually unavailable since the builder is in the process of finalising these details.
Thus, before investing in any project, you must check the developer’s records. Also, check the title deed. Credible players start the project only after acquiring 100% of the land.
If you have already invested, visit the project site regularly to see the construction progress.
Further reading:
Which House to Buy? Pre-Launch vs Ready-To-Occupy vs Under-Construction
Investing in Property at Pre-Launch stage: Six Mantras for Success