Prestige Falcon City Reserve Payment Plan
The Prestige Falcon City Reserve Payment Plan is a structured, construction-linked financial schedule designed by the Prestige Group, requiring an initial booking amount of 10% plus GST, followed by 10% plus GST upon allotment, with the remaining balance distributed across 24 bi-monthly installments over a four-year period.
Investing in a premium property on Kanakapura Road, South Bangalore, is as much a financial strategy as it is a lifestyle upgrade. For senior real estate investors and homebuyers tracking this market, understanding the structural layout of the payment framework is critical to calculating cash flows and ROI.
Here is a comprehensive breakdown of the payment mechanism, additional costs, and timelines governing Phase 2 of this landmark 41-acre integrated township.
Comprehensive Breakdown of the Payment Schedule
The Prestige Group utilizes a standard Real Estate Regulatory Authority (RERA) compliant, milestone-linked payment structure. This eliminates the heavy burden of down payments, distributing financial liability systematically alongside structural progress.
| Milestone Stage | Percentage Due | Tax Components |
|---|---|---|
| Booking Advance | 10% | Base + Applicable GST |
| Allotment Confirmation | 10% | Base + Applicable GST |
| 24 Alternate-Month Installments | 78% (Divided into 3.25% per milestone) | Base + Applicable GST |
| Handover & Possession | 2% | Base + GST + Supplemental Deposits |
| Step-by-Step Fund Release | The payment plan runs across a standard 48-month window tracking toward the targeted structural handovers. | Initial Booking: Securing a unit requires an upfront booking value of 10%. Early investors in the pre-launch phase can leverage Expression of Interest (EOI) slots, which range from ₹12 Lakhs for 2 BHK configurations up to ₹30 Lakhs for 4 BHK units. |
Step-by-Step Fund Release
The payment plan runs across a standard 48-month window tracking toward the targeted structural handovers.
- Initial Booking: Securing a unit requires an upfront booking value of 10%. Early investors in the pre-launch phase can leverage Expression of Interest (EOI) slots, which range from ₹12 Lakhs for 2 BHK configurations up to ₹30 Lakhs for 4 BHK units.
- Allotment Stage: Upon formal unit allotment and signing the sale agreement, the buyer completes the second 10% tranche.
- Construction Milestones: The 78% core block is broken down into small, predictable 3.25% intervals due every alternate month. These track specific civil execution milestones (such as foundation, plinth, individual slab casting, plastering, and MEP installation).
- Possession Balance: The final residual amount (typically 1.25% to 2%) is cleared only when the occupancy certificate (OC) is received and physical handover begins.
Detailed Cost Sheet Elements Beyond the Base Price
When parsing the full financial layout of Prestige Falcon City Reserve, evaluating the base price alone is insufficient for precise budgeting. The total agreement value includes several mandatory legal and development charges.
1. Statutory Taxes & Levies
- Goods and Services Tax (GST): Under active construction guidelines, a standard 5% GST is applicable on the total construction value of luxury housing segments (units priced above ₹45 Lakhs).
- Stamp Duty & Registration: Calculated based on the prevailing guidance value of Konanakunte/Kanakapura Road at the time of execution. This is a one-time payment made directly to the state government prior to possession.
2. Infrastructure & Component Charges
- Floor Rise Charges: A premium applied per square foot from the higher levels onwards (typically starting from the 4th floor upwards to the 31st floor) to account for superior views and ventilation.
- PLC (Preferential Location Charges): Applicable to premium inventory units that face the internal central landscapes, swimming pool, or the adjacent Doddakalasandra Lake.
- Advance Maintenance & Corpus Fund: A mandatory deposit collected upfront at the time of possession to fund the initial operations of the resident welfare association (RWA) and protect common infrastructure.
Frequently Asked Questions
1. What is the official booking amount for the Prestige Falcon City Reserve payment plan?
The official booking advance is fixed at 10% of the total unit cost plus applicable GST. However, during the pre-launch and early booking windows, buyers can submit an Expression of Interest (EOI) token ranging from ₹12 Lakhs to ₹30 Lakhs depending on whether they are selecting a 2, 3, or 4 BHK configuration.
2. Is the payment schedule for this project linked to construction milestones?
Yes, the payment plan operates on a construction-linked framework. After the initial 20% booking and allotment amounts are fulfilled, the remaining 78% of the core payment is split into 24 distinct installments of 3.25% each, requested every alternate month based on the specific civil engineering stages completed on-site.
3. Does the listed base price include GST, stamp duty, and registration fees?
No, the base price reflects only the cost of the super built-up area. Additional statutory costs such as 5% GST, local stamp duty, registration fees, electrical/water connectivity charges, floor-rise premiums, and preferential location charges (PLC) are detailed separately in the official cost sheet.
4. Can I apply for a home loan to fund the installment phases of this payment plan?
Yes, because the Prestige Group maintains clear, unencumbered land titles and RERA compliance, the project is pre-approved by leading nationalized and private banks (including SBI, HDFC, and ICICI). Eligible buyers can easily secure home loans, allowing financial institutions to disburse the milestone payments automatically on their behalf.
5. What happens if there is a delay in the construction milestone payments?
Construction-linked plans require timely disbursements to maintain building momentum. If an installment is delayed, interest charges may apply on the overdue amount for the period of delay, as governed by standard RERA rules. The builder provides alternate-month updates so buyers can clear balances predictably.
6. Are there extra charges for higher floors or specific views at Prestige Falcon City Reserve?
Yes, Preferential Location Charges (PLC) apply to premium units facing the lake or landscape amenities. Additionally, standard floor-rise premiums are levied per square foot for higher floors, as upper levels provide enhanced cross-ventilation, lower noise levels, and unobstructed views of the South Bangalore skyline.
7. When is the final balance installment of the payment plan due?
The final remaining balance (1.25% to 2% plus applicable taxes) along with the advance maintenance deposits and corpus fund is due upon notice of possession. This step occurs after the project receives its Occupancy Certificate (OC) from the competent municipal authorities, right before key handover.
