Prestige Somerville Payment Plan

The payment plan is the schedule of payments for the apartments in a housing complex. The payments that must be made as the houses are developed are outlined in the plan. It provides consumers with step-by-step payment processing guidance, guaranteeing a hassle-free house ownership experience for both the builder and the buyer.

Customers can choose an easy and risk-free instalment plan with the Prestige Somerville Payment Plan. Booking an apartment or flat requires buyers to pay 10% of the total cost. After that, the remaining sum will be split into four equal payments. It's crucial to remember that the base price listed does not include extra charges for things like stamp duty, registration, or other taxes. These fees must be paid when the apartment or flat is registered or on the possession day. All fees and taxes include GST.

Prestige Somerville
Type Apartments
Project Stage Prelaunch
Location Whitefield, Banglore
Builder Prestige Group
Floor Plans 2, 3, 3.5, 4 BHK
Price Strating Rs. 2.62 Cr* Onwards
Total Land Area 6.58 Acres
Total Units 306 Units
Size Range 1773 - 2616 Sq Ft
Towers and Blocks 2 Towers, G + 17 Floors
Approvals NA
RERA No In progress
Launch Date Onrequest
Possession Date Dec 2027 Onwards

Prestige Group is famous for providing excellent residential places at affordable prices. They offer the best deals to investors according to the current market price. Considering various factors such as property size, infrastructure, location, etc., the builders have set the minimum price. It is a win-win situation for both parties. Buyers can choose their pocket-friendly apartment and experience the luxury of such a posh area.

The entire payment plan is made with the general guidelines of RERA, applicable for projects under construction. The whole payment plan comprises these steps:

  1. When booking an apartment, the homeowner must pay 10% of the total cost. GST will be applicable here.
  2. On the allotment date, the buyer has to pay another 10%+GST.
  3. Next instalments of only 4% must be paid within a grace period of 1-2 months until it reaches 75% of your base plan. These instalments will continue to show up every few months.
  4. The buyer can pay 20 instalments for their apartment before the possession date approaches.
  5. Payment for the completed work up to the foundation level is required in the amount of 15%.
  6. After completing each stage, the buyer must pay 1%.
  7. 5% is due when the painting, plumbing, and plastering are finished.
  8. The rest of the amount must be paid on the date of possession when having the keys.

Overall, the payment plan brings transparency and trust between both parties. It lets the buyers have a nice home-buying experience. If you have any queries regarding the payment plan, feel free to contact us.

The project provides various ways to pay. These will make buying a home easier by bringing down the related expenses. Pre-launch is the ideal time to purchase an apartment in this complex. The presale pricing for Prestige Somerville residences will be less than the final cost of the properties.

The government's prescribed procedures must be followed in order to pay all necessary fees and taxes. The amount of GST must be added. There will be maintenance and parking costs. You will have to pay extra for all of the extras. The amount you see is all you have to pay; there are no additional fees. Prestige Somerville will offer a more affordable price than the majority of its competitors.

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