Prestige announces integrated project

Prestige, a prominent Bangalore builder, has announced an integrated development, Prestige Shantiniketan, spread over 105 acres in Whitefield. It is being built in association with D K Audikesavulu, member of parliament and MD, Chaitanya Properties.

With work on the project set to start in March this year, Prestige hopes to complete it by 2008.

The Rs 1,500-1,700 crore project, say will have 10 million square feet of built-up space, 65 per cent of which will be residential blocks. The "township" is expected to house 12,000-15,000 residents in 2,839 apartments in 24 high rise towers.

"The township will have distinct residential and commercial zones," said Irfan Razack, CMD, Prestige Estates Projects. The two, three and four bedroom flats will be priced from Rs 25 lakh to Rs 35-40 lakh. "We are yet to decide on the price of the penthouses," added Razack

A Forum Mall, a multiplex with five screens and a convention centre will be part of the township. In addition to these, it will also have a World Trade Centre and a five star hotel. The five-star hotel will sport the Radisson franchise.

"As it will be self-sufficient, the residents won't have to go to the already crowded city centre," said Arunjot Singh Bhalla, associate director of RSP, a Singapore-based architecture firm and the brain behind the design.

As the development is located in the IT belt, it will offer a chance to knowledge workers to live close to their workplace and not have to travel to the city for routine needs.