Orchids

Orchids reflects a very unique design and concept that truly helps life bloom in all its splendor. Designed to be a green,smart and visually appealing residential space that will be home to 167 luxury apartments, it will also be an IGBC pre certified Gold rated Green project offering 2,3,4 BHK apartments and Pent house options. A very expansive, feature rich Club house will make Orchids a sought after residential abode for the discerning few.

The spacious, open-plan apartments with large floor to lintel height corner windows, facing planted verandahs differentiate Orchids from other regular offerings, allowing unhindered views and generous light and air to the residents.

The park that runs the entire length of site, allowing tall tree planting forms a green reserve and buffer from the upcoming busy road. There is also a promenade that will be developed, linking the 3 access cores of the three blocks and guiding the user from the main reception lobby, offering a constant view of this front park. A variety of enclosed, open and semi-open recreational spaces will form points of interest along this path.

  • Features
  • Amenities
  • Plans
  • Location
  • Gallery
  • Elevations
  • Approvals
  • FAQ's

Features

  • Orchids is for inclusive living. Most apartments today are isolatory in design and nature, oblivious to the importance of a social environment within the resident community.
  • Orchids is pleasantly different from this routine. Reverse engineering the concept of a home, integrating each apartment and residents therein - with the lively community that takes life within the complex. With a design that flows from 'outside' into the 'lively and vibrant apartments and common spaces', Orchids is a tribute to the yearnings of a tired and isolated city soul. It is indeed a great solace!
  • Central to the Orchids design is the Community Space dotted by the clubhouse, swimming pool and other social arena that ever encourage residents to mingle, creating relationships and forming bonds, even as one can retreat at will to one's own private space – the home, the Cocoon of peace.
  • The quiet-facilitated by design. Orchids boasts of apartments that maintain a healthy distance from each other and also provide a great 180 degree outside view from within.. The 2.27 acres expanse of land where Orchids will rise, is nicely undulated offering a beautiful slope for the architects to design interrupted views of the land and the sky. Come, enjoy yours!
  • Each apartment comes with its own small, designer deck planter, wooden deck, climber trellis screen and external pergola creating an interesting ambience and interplay with the landscape outside and allowing for the play of light and shadow on both the façade of the building and the individual unit decks.
  • The external framing helps scale the façade to friendly proportions, highlights delightful components of the apartment units and create varying degrees of enclosure that are much needed in multiple housing developments
  • IGBC Pre Certified Gold rated project
  • "Intelligent home" features
  • Visually striking elevation
  • Lavish landscaping with soothing water bodies
  • Vastu compliance
  • High Efficiency of floor space
  • Very low vehicular traffic in ground floor
  • Good dose of Indoor and Outdoor sports facilities
  • Well defined spaces for kids,adults and elders alike!

Amenities

  • Grand Reception Lounge
  • Luxurious,feature-rich Clubhouse
  • Fully equipped Gym and Health Studio
  • Swimming pool
  • Elders corner
  • Dance/aerobics/yoga studio
  • Kids Arena with Creche
  • Indoor Sports arena
  • Pool Room for Snooker/Billiards
  • Room for Board game
  • Lawn Tennis
  • Half Basket Ball Court and Jogging Track

Location

Be it proximity to essential conveniences such as Schools, Colleges, Shopping Centres and Hospitals or Connectivity to the bustling work places, rail station and Airport, the location of Orchids scores a high five. Just off the fast developing Thannisandra Road, Orchids is only minutes away from the best of schools, colleges, hospitals and more importantly the workplaces such as Manyata Techpark, Bagmane Techpark.

With several prestigious projects in the immediate neighborhood and the proposed Peripheral Ring road abutting the Orchids, your investment in Orchids can only appreciate.

Gallery

Approvals

BBMP - Sanction Letter

Bank Approvals

FAQ's

  • Booking Related
  • Home Loan Related
  • Project Related

Booking Related

  • How much is the booking amount?
  • Rs. 3 Lakhs.

  • Can a client pay less?
  • No.

  • In how many days the client has to Sign the AOS?
  • Within 15 days of booking / as communicated by company.

  • Any discount for bulk bookings?
  • This will be determined on a case-to-case basis.

  • What are the banks who have tied up with this project?
  • Approval under process with SBI, HDFC, Axis, ICICI and LICHF.

  • What is the maximum loan amount which can be availed ?
  • 85% Green Home loan

  • Is upfront payment possible for this project?
  • Yes. Exact amount of upfront amount disbursable will be intimated upon Bank approvals for the project.

Homeloan Related

  • How is my loan eligibility determined?
  • The primary concern of the HFC's in determining the loan eligibility is that you would be comfortably able to repay the amount you borrow. Your repayment capacity is determined by taking into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability and continuity of occupation and savings history.

  • What is an EMI? How is it calculated?
  • You repay the loan in Equated Monthly Installments (EMI's) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.

    EMI or Equated Monthly Installments refers to the fixed sum of money that you will be paying to the housing finance company every month. The EMI comprises both interest and principal repayment. The size of the EMI depends on the quantum of loan, interest rate applicable and the term of the loan.

    EMI Formula: l x r [(1+r) n / (1+r) n-1] x 1/12 l = loan amount r = rate of interest n = term of the loan

    As you would have noticed, EMI tends to be higher when the tenure is short as the borrower has lesser time for the loan repayment. While EMI remains fixed, the outstanding amount keeps coming down as every EMI reduces the principal component of the loan amount. However when the interest rate goes up or comes down, banks have the choice of altering the EMI amount if the borrower does not wish to increase the tenure for loan repayment

  • What is the range of interest rates offered? What are the two types?
  • The interest rates may vary from institutions to institutions and generally range from about 11% to around 14%. Essentially there are two types, the first one being the fixed rate of interest, which means that the interest rates remain unchanged for the entire duration the loan. This basically means that you do not benefit, even if the rates of interest drop in the market.

    The second one is the Floating rate of interest is the one that fluctuates according to the market lending rate.

  • What Documents do you need for a loan approval?
  • Salaried Customers Self-Employed Professional Self-Employed Businessman Application form with photograph Application form with photograph Application form with photograph Identity and Residence Proof Identity + Residence Proof Identity and Residence Proof Latest Salary-slip Educational Qualifications Certificate and Proof of business existence Educational Qualifications Certificate and Proof of business existence. Form 16 Last 3 years Income Tax returns (self and business) Business profile. Last 6 months bank statements Last 3 years Profit /Loss and Balance Sheet Last 3 years Income Tax returns (self and business). Last 3 years Profit /Loss and Balance Sheet. Processing fee cheque Last 6 months bank statements Last 6 months bank statements(self and business). Processing fee cheque Processing fee cheque

  • Do I get a tax benefit on the loan?
  • Yes. Resident Indians are eligible for certain tax benefits on principal and interest components of a loan under the Income Tax Act, 1961. Interest repayment of Rs. 1, 50,000 p.a. can get you a tax saving upto about Rs. 50,490 p.a. Moreover, you can get added tax benefits under Sec 80 C on repayment of principal amount upto Rs. 1, 00,000 p.a. that can further reduce your tax liability by about Rs. 33,660 p.a.

  • What security needs to be provided for a house loan?
  • Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds (a clear and marketable title). Some lenders may also require collateral security like the assignment of life insurance policies, pledge of shares, national savings certificates, and units of mutual funds, bank deposits or other investments.

  • How much time does it take to get an application processed and the loan getting sanctioned?
  • It takes around fifteen days for processing of one's application if the documented are in order. It takes another week for the company to check out the property papers and make the disbursement.

  • What is the maximum amount, which I can borrow? How is the maximum amount derived?
  • Home loans are generally provided for in the range of 75%-85% of the asset value. The amount of loan varies from institution to institution and it may vary from Rs.1 Lakh to Rs.1 Crore. The maximum amount, which one can borrow, is a function of many factors, which includes primarily the purpose of the loan. In addition, ones residential status whether resident in India or non-resident will also have a bearing on the maximum amount of loan that one can borrow. Generally, if one is a resident Indian, then he can borrow upto 85% of the cost of the property.

  • What are the repayment period options?
  • Repayment period options range generally from 1 to 20 years. A few lenders also offer a 30-year repayment period, usually at a higher interest rate. As a non-resident, you can avail of a loan for a maximum period of 15 years.

  • How is the interest calculated on my loan?
  • Interest rates are different from institution to institution and generally range from about 10.50% to around 15 %. The interest on home loans in India is usually calculated either on monthly reducing or yearly reducing balance.

    Yearly reducing:

    In this system, the principal, for which you pay interest, reduces at the end of the year. Thus you continue to pay interest on a certain portion of the principal which you have actually paid back to the lender. This means the EMI for the monthly reducing system is effectively less than the annual reducing system.

    Monthly reducing:

    The principal, for which you pay interest, reduces every month with every EMI. Generally HFC's follow the yearly reducing balance method, which accounts for your principal repayments, only at the end of their financial year. Thus, one pays interest on the principal that you have already returned to the HFC. The effective interest rate is thus higher than the quoted interest rate by around 0.7%. Banks and some HFC's, in contrast, follow monthly reducing-balance method, which results in a lower interest burden.

  • What are the fees and charges payable and when are they payable?
  • Home loans are usually accompanied by the following extra costs although these may vary from institution to institution:
    a) Interest Tax: is the tax payable on the interest paid on a home loan and not the principal. This tax is some times included in the interest rate of the loan, or may be charged separately as interest tax.
    b) Processing Charge: It's a fee payable to the lender on applying for a loan. It is either a fixed amount not linked to the loan or may also be a percentage of the loan amount. The loan amount received by you can be less than the processing fee.
    c) Prepayment Penalties: when a loan is paid back before the end of the agreed duration a penalty is charged by some banks/companies, which is usually between 1% and 2% of the amount being pre paid.
    d) Commitment Fees: Some institutions levy a commitment fee in case the loan is not availed of within a stipulated period of time after it is processed and sanctioned.
    e) Miscellaneous costs: It is quite possible that some lenders may levy a documentation or consultant charges.
    f) Registration of mortgage deed.

  • Can I repay my loan ahead of schedule?
  • Yes, you can pay your loan ahead of schedule. However, it must be noted that housing finance companies charge a fee for early redemption of loan. This fee can vary between 1-2% of the loan amount being prepaid and may differ from HFC to HFC.

  • If floating interest rates go up, will EMI amount increase?
  • Banks fix the EMI based on the prevailing interest rate and hence EMI too is fixed accordingly. However, if the floating goes up, the interest rate gets altered and banks have the option of increasing the EMI amount. However, to avoid paper work, EMI amount is not altered if the interest rate hike is nominal. Instead, the higher amount towards repayment is recovered by increasing the tenure of the loan repayment.

  • Who is a guarantor and what is his liability?
  • A guarantor is expected to fulfill the commitments of the borrower if he fails to discharge his duties. As a result, if a borrower fails to clear his loans beyond a stipulated period, the bank has the right to direct the guarantor to honor the commitment subject to conditions.

  • What is the maximum period over which I can pay the loan?
  • The maximum duration of period of the loan is a function of your residential status and varies for every housing company, and is also different for every scheme.

    As a resident Indian, you could avail of a loan for duration of 5 years to 20 years. As a non-resident, you can avail of a loan only for a maximum period of 7 years.

  • When can I take disbursement of the loan?
  • The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and progress of construction, as assessed by the housing finance company.

  • Does the Agreement for Sale have to be registered?
  • In many states in India like Karnataka, the Agreement for Sale between the builder and purchaser is required by law to be registered.

Project Related

  • Why Orchids?
  • Orchids reflects a very unique design and concept that truly helps life bloom in all its splendor. Designed to be a green,smart and visually appealing residential space that will be home to 167 luxury apartments, it will also be an IGBC Gold rated Green project offering 2,3,4 BHK apartments and Pent house options. A very expansive, feature rich Club house will make Orchids a sought after residential abode for the discerning.

  • What is a green building?
  • A Green building meets certain design and construction standards that should translate into increased energy conservation, healthy indoor air and lower operating costs for the residents of the building.

  • Is Orchids a certified Green Building?
  • Orchids is targeted for pre-certified Gold Rating from Indian Green Building Council (IGBC).

  • Where is Orchids located exactly?
  • It is located just off Tannisandra Main Road and is minutes away from leading IT workplaces like Manyatha Tech Park, Begamne Tech Park, Whitefield, International Airport, Outer Ring Road, Bangalore – Hyderabad National Highway, besides being close to many a place of daily convenience.

  • How do we get to this location and what would be the drive time?
  • It takes about 30 min to reach Orchids from the CBD via Nagawara X roads and Outer Ring Road or HBR Lay out. It takes just over 5 min to reach Orchids from Manyatha Tech Park.

  • What is the management promise?
  • Prisha Properties imbibes outstanding ideas and values with a clear resolve to create quality living options that are unique , adding a new dimension to responsible and luxurious living.

  • Under which authority does the Orchids come under?
  • BBMP

  • Is the project approved by the authorities?
  • Approvals received..

  • What is the size of the project?
  • The project will be home to 167 luxury apartments.

  • What are the apartment sizes available?
  • Orchids offers 167, thoughtfully designed, 2, 3 and 4 bed room apartments spread over 3 blocks. For all its luxurious features and amenities, Orchids is surprisingly very affordable and offers attractive living options between 1440sft to 4380sft.

  • What would be the rate per sq ft?
  • Please refer to the cost sheet provided on our website and also on request.

  • Is the project Vaastu compliant?
  • All Apartments are designed as per Vaastu for the three primary parameters of main entry door, kitchen and the location of the master bedroom.

  • What about the Bank approvals? Has any bank approved the project?
  • Approval from HFIs is awaited.

  • Will there be any modifications possible in the apartments?
  • There will be no modifications allowed due to the high level of standardization in the layouts and design. The designs however will be of maximum usability from a consumer point of view with an efficiency of close to 85% which is way above the industry standard.

  • Will the project be completed on time?
  • The dwelling units will be delivered from early 2015 onwards, in a tower-wise manner. Given that we are using the latest concrete fabrication technology there should not be any significant delays barring force majeure.

  • What about infrastructure development around the project?
  • Orchids is strategically located close to Bangalore's IT Corridor of ORR. It is also a very short drive away from the finest shopping and dining avenues of Hennur and Hebbal. So you get to save on commuting time and energies, not just to work but also whenever you step out for food , fun and frolic. The time you save, gets better spent as you unwind and rejuvenate yourself in the stimulating environs of your home and the numerous life enriching amenities.

  • What about connectivity to the airport and the railway station?
  • Orchids is just off Thannisandra road which leads to International Airport and is also close to ORR reaching Railway station will be an easy affair.

  • Is it very far from the CBD?
  • Not really. One can reach the CBD in 30 to 40 min time thanks to very good road connectivity to not just the neighboring business areas but also to the CBD.

  • Will Kaveri water be provided?
  • Yes, subject to BWSSB's feasibility and on payment of appropriate charges by each flat owner. Proportionate cost of the same will be intimated in due course during the project completion or post completion.

  • How de we get a confirmed allotment?
  • Based on the booking amount and prior to signing the agreement of sale your Allotment will be confirmed and informed to you.

  • What if I cancel my booking?
  • No cancellation fees is charged if cancelled before execution of Agreement of Sale. However, an amount of Rs.3,00,000/-(Rs.Three lakhs only)will be charged towards cancellation charges if cancelled after execution of Agreement of Sale.

  • Is the Title of the Property clear?
  • Yes, the land is freehold, marketable and free from all encumbrances and clear.

  • What are the legal documents to be signed by the Purchaser?
  • An Agreement of sale in completion will be issued to the Purchaser. Agreement of sale is also the primary document that facilitates Bank funding. Sale Deed is the other document that will be registered, on completion of the construction.

  • What are the other Extras /additional amounts to be paid?
  • "Extras" mean Costs to be borne additionally by the purchaser at the time of registration/ possession except that of the cost relating to Car park, power/water/sanitary connections, Club House charges, Legal fee, maintenance charges, Service tax/COT, Registration and stamp duty charges are the other costs.

  • How will the Housing Financial Institutions disburse my installments due?
  • Since these are equated quarterly installments on request and consent from the purchaser and the builder the HFI will ensure timely disbursement of installments.

  • Who will take care of the maintenance of the Project after Completion?
  • The property will be maintained by us, for two years till the formation of the residents Association. We thereafter transfer the responsibility to the Association.

  • When does Registration take place?
  • Registration will be done only on completion of the Project and on payment of the consideration as per the payment schedule provided.

  • Can I transfer the property before the registration?
  • Yes, you may transfer the property by paying a transfer fee of Rs 3 Lakhs and have an assignment of rights executed.

  • What about the sanitary set up, will it be connected to the mains?
  • The sanitary connections will not be connected to the mains, but a separate STP will be installed as per the norms.

  • What if the project is delayed? What would be the Penalty Clause?
  • A penalty clause would be specified in the sale agreement, towards this effect.

  • Do you give fully furnished/semi furnished apartments?
  • No these are not furnished apartments. We only offer the Basic units completed in all respect.

  • What if the full amount is paid upfront? Do we have any further benefits during the pre-launch offer?
  • Yes. We will offer additional discounts.

  • Are you constructing in phases? Then how many phase would you intend?
  • Yes, to enable quick turn around, we will go in a phased manner for early possession. There will be two phases.

  • What is the source of the water?
  • Bore wells and STP recycled water for maintenance

  • When will construction for Phase 1 start?
  • Construction has already commenced and Possession starts from First Quarter 2015.

  • Will there be visitor's parking?
  • Yes for limited no of vehicles.

  • Is the structure earthquake resistant?
  • Yes, the designs are earth quake resistant and are designed as per IS codes.

  • Who will maintain the complex?
  • Prisha Properties India Pvt Ltd or a thirty party agency engaged by PRISHA.

  • Who are the promoters?
  • The promoters are in the business of real estate for over a decade and have a strong pedigree in developing world-class residential projects.

  • Can I upgrade later to a larger apartment?
  • Yes

  • How many clubhouses?
  • One fully equipped, feature rich clubhouse with a total area of about 18000 sq. ft.

  • What would be the membership charges?
  • There is a one time contribution towards the Club Construction that is Rs.350000/-. Besides, residents have to pay a monthly membership charge.

  • Will membership be open to outsiders?
  • No.

  • What will be the usage charges? Will the charges be monthly?
  • Rs.750/*- p.m for the first 12 months.To be reviewed and revised at the end of 12 months.

  • What will be car park charges?
  • Each Car Parking will be charged at 2 Lakhs

  • Is there enough car parking?
  • Yes. There will be sufficient car parking space.

  • Will there be a STP?
  • Orchids will have common STP and will be ready by the time declared habitable.