Residential Project- Virgin Island
Nitesh Estates, which is a leading property developer in Bangalore, has pre-launched another iconic residential project- ‘Virgin Island’. Sprawling across 8.15 acres of land, it will offer 723 housing units in total, out of which 452 units are of 2BHK and 271 units are of 3BHK. These residential units will be set-up over a carpet area ranging between 460 sq.ft. – 3,453 sq.ft. There will be 11 blocks in total which shall consist of 16 residential floors and 3 multi-level parking floors.
Project has opened booking at a Pre-Launch price of Rs. 4,200 per sq.ft. Is this price reasonable? Let us analyze this further:
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| REAL WATER FRONT APARTMENTS |
Directions to Reach
As per the location plan, Nitesh Virgin Island is located at the junction of Whitefield road and Old Madras Road in Konadaspura village near Budigere Cross. It is diagonally opposite to Brigade Exotica and easily accessible via Old Madras Road.
Location Advantages:
- Old Madras Road connects the project to central business district of MG Road, Kasturba Road, and Lavelle Road
- Project is close to IT hub of Whitefield as well as ORR through which it connects to Hebbal, Marathahalli, Bellandur etc.
- The Baiyappanahalli Metro station is only 13 kilometers away from project site.
Infrastructure
With several reputed schools, hospitals and shopping malls, Old Madras Road has developed into a much sought-after destination for home buyers.
The Gopalan Signature Mall and Hebron Mall are some of the exclusive malls that have made OMR a shoppers’ delight. This area also houses several renowned educational institutions. Vibgyor High International School, Oasis International School and Shemrock Young World School are some of the prominent names. In addition, the proposed civic projects such as Metro rail and Peripheral Ring Road (PRR) will further boost connectivity of this region.
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| Check Best Price Offer of this Amazing Project |
Compare Price
While the ongoing property rates on Old Madras Road ranges between Rs. 4,393 – 4,627 per sq.ft., Nitesh Virgin Island has pre-launched its unit at Rs. 4,200 per sq.ft. The base price of the project is considerably decent but other charges are 70-85% more than other projects and this puts the overall price on the higher side.
If we compare the cost sheet of Nitesh Virgin Island with Assets Marq – the two being situated very close to one another – both of them marketed their project at Rs. 4,200 per sq.ft., as a pre-launch offer. However, for unit size of 1,245 sq.ft, Assets Marq’s total cost excluding registration comes out to Rs. 67, 27,166 whereas for almost the same size (1,249 sq.ft) Nitesh is quoting Rs. 7,120,098 excluding registration. There is a difference of almost Rs. 4, 00,000 which comes to around Rs. 320/sq.ft. Thus, apart from the basic cost all the other charges of Nitesh Virgin Island are too high. Buyers should decide if they are willing to pay premium for slightly better location of Nitesh Virgin Island which is located on Old Madras Road itself.
Old Madras Road has huge potential for price growth; hence it deserves an investment from seasoned real estate buyer. So calculate your trade-offs, be mindful of the pros and cons and if this looks like an investment opportunity to you, then hurry up and invest in Nitesh’s new launch ‘Virgin Island’.
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