Prestige Westwood Multistorey Apartments Area Range 1200 sqft - 2200 sqft, Located at Magadi, Bangalore available with 2BHK Apartments, 3BHK Apartments and 4BHK Apartments.
Description:
Prestige Westwood by the famous Prestige group is a novel concept of residential development which is in the pre launch phase introducing people to a life that is much far from the ordinary level of living sited at a most prominent locality of Bangalore. Put forward on the land of 7 acres of Central Bangalore, this innovative project by the Prestige group.
Making living as the very best, the project comprises of a total of 582 apartments with most sophisticated yet classy combinations of a perfect life with perfect placements of very primary & profound necessities. Graced with all modern amenities, high-end specifications and world class features & luxury, [Prestige Westwood] the project has lush green environs and blooming flowers all around that appreciate your senses to live a fruitful life.
Making living as the very best, the project comprises of a total of 582 apartments with most sophisticated yet classy combinations of a perfect life with perfect placements of very primary & profound necessities. Graced with all modern amenities, high-end specifications and world class features & luxury, [Prestige Westwood] the project has lush green environs and blooming flowers all around that appreciate your senses to live a fruitful life.
Amenities:
Club House
Swimming Pool
Landscaped Gardens
Multipurpose Hall
Kids Play Area
Ample Car Parking
Round the Clock Security
Swimming Pool
Landscaped Gardens
Multipurpose Hall
Kids Play Area
Ample Car Parking
Round the Clock Security
Today, more than at any other time in our history, there is
a strong recognition of the need for good governance and ethics in every sphere
of business. The voice of shareholder activism has never been louder and the
focus of regulators perhaps never so intense. The global financial crisis has
taught us that 'infectious greed', which is the greed to boost profits, increase
share prices and get higher bonuses was largely responsible in causing mayhem
in the global financial markets. As world economies are slowly recovering, regulators
have a complex task of understanding the reasons for the breakdown of corporate
governance. It is an onerous task as despite regulations being meticulously
followed and box ticking done in all earnest, often there are instances when
the basic tenets of corporate governance are violated. In the ultimate analysis,
good governance has to be imbibed internally its genesis lies in the core
values and beliefs, not in a rulebook.
While global investor focus has remained intense on India
given the vast investment opportunities, I believe the sector that will propel
the country to a higher level over the next decade will be the construction
sector. The construction sector encompasses a wide gamut from residential andcommercial real estate to building physical infrastructure and manufacturing
plants. Given the larger role that the construction sector is envisaged to play,
the role of governance particularly in this sector should assume greater
importance.
The real estate sector in India has shown considerable
improvement from the loss seen last year following the liquidity crisis in
October 2008. Having recovered from a difficult period, now is an ideal time
for real estate companies to introspect on what went wrong and revisit their
core corporate governance principles. The essential ingredients of corporate
governance are integrity, accountability and transparency. If any of these are
ignored or sidelined, the repercussions can be severe.
At this juncture, developers must show prudence and refrain
from arbitrarily increasing real estate prices. There is a fine line between
making profits and profiteering and it is in the interests of the entire sector
that developers stay away from the latter. Unrealistic prices and speculation,
particularly in the residential segment have detrimental effects across the
economy. If the common man seeking a roof over his head keeps getting
out-priced from the market, it can lead to social unrest. On the other hand, a
system that enables more people to own a home has a positive impact on the
socio- economic fabric of society. Affordable housing should not be a segment
that get priority only when there is a lull in the high-end luxury residential
segment. The demand for affordable housing is unquenchable. Developers who
recognize the vast opportunities in this segment will reap benefits in the long
run. It is a segment that is recession proof and has demonstrated that it is commercially
viable as long as the projects are executed in the right manner.
Real estate is one of the few key sectors in India today
that does not have a regulator. Thus the need for consumer protection becomes
all the more necessary. Buying a house is the single largest investment a
person makes in his or her lifetime. Why is it that time and again, consumers
get the raw end of the stick simply because they are unable to decipher the exact
liveable space that they are paying for? Why is it that apartments are not sold
only on the basis of carpet area but arbitrarily on built up or even super
built up area? Surely the real estate developer community can voluntarily imbibe
this practice, even if the respective state governments do not mandate it.
Further more,
developers have to ensure that projects are completed on time. A majority of
the consumers are first time home buyers and they put all their faith and trust
in developers. Endeavors to bring about greater transparency, fairness and standardization
into the real estate industry should not be resisted. The industry will also
benefit from increased professionalism and ethical standards if there are
specified norms and qualifications to real estate brokers. Certainly, more
efforts need to be channeled in devising a single window clearance mechanism
for approval processes. This will not only save time, but reduce costs as well.
If one reflects back over the last ten years, one can see
that the real estate sector in India has made considerable strides. In the
early 1990s when fly-by- night operators were rampant, today they have been successfully
weeded out of the market. A decade ago, even the large developers were local
players, today India has several well-reputed pan-India developers. Financials
of developers used to be opaque, but today corporatization and listing of
several real estate companies have brought in greater transparency in their operations.
While there are several real estate initial public offerings
(IPOs) waiting in the wings, one does hope that they will be priced
realistically. Overly high valuations of certain recent IPOs are cause of
concern. The unrealistic pricing resulted in them listing at a discount to their
IPO prices. A failed IPO at this juncture will set a bad precedent and could
have serious repercussions on the entire market. One hopes that real estate
companies will adopt a cautious approach while tapping the capital markets.
Ultimately, markets always differentiate and ascribe higher valuations to those
that voluntarily seek to constantly raise the bar of corporate governance standards.
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