Thinking on buying an apartment at the Kingfisher Towers?
The Prestige Kingfisher Towers can be considered the most luxurious landmarks in UB City, located in Bangalore. However, there are many interesting facts few people actually know about them. My name is Balaji Badrinath, and I welcome you to my channel. Today, I’ll be presenting you with the ten most interesting facts about the Prestige Kingfisher Towers. Having decades of experience in real estate and also running Coldwell Banker Value and Realty, I know everything there is to know about the Kingfisher Towers. I’ve even helped buy, sell properties there! So, read this article to find out all you should know about the Kingfisher Towers, and don’t forget to subscribe our mailing list for more exclusive real estate facts like today
Fact 1: Prestige Group
Prestige Group is by far the most premium residential development in Bangalore City.
The Prestige Kingfisher Towers were developed by Prestige Group, one of the biggest property development companies in South India. Prestige was founded by Razack Sattar in 1986 and has its main facilities in Bangalore. Beside the Prestige Kingfisher, they have also developed properties in Chennai, Kochi, Hyderabad, Mangalore, Mysore and Udaipur. Funnily enough, Prestige Group began as a retail business and only moved to real estate with its first project, called Prestige Court, at KH Road. And, the rest is history. Today, Prestige Group has completed 192 projects, spanning around 64 million square feet, most of them being commercial offices, apartments, shopping malls, villas, hotels, golf courses, retail and leisure & hospitality. And among these, we have the Kingfisher Towers. UBHL owns 55% of the tower, while Prestige Group owns 45%.
Fact 2: What it consists of
The Prestige Kingfisher Tower is considered a high rise residential apartment comprising of 3 Towers of 34 floors each.Every Floor has an exclusive apartments with an area of 8321 Sq.ftwith Private lift lobby the project overlooks the magnificent UB City, Cubbon Park and offers breathtaking views of the city’s most happening locality. Kingfisher Towers comprises of luxury 5 bedroom flats spanning the entire floor of each tower with an area of 8321 Sq.ft Each residence at Prestige Kingfisher Towers has its own lift lobby, service lift area and an exclusive access to the project’s amenities that include a club house, swimming pool and gymnasium. Each residence at Prestige Kingfisher Towers gets 5 covered car parks. The project is designed to employ architectural techniques includes its notorious roof line. The project also benefits from facilities such as a club house, swimming pool and tennis courts. Additional features of the project will include large balconies for each unit with views of the surrounding areas such as cubbon park, UB city and Museum. The spacious homes include average areas of 8321 square feet and they are all built to the highest standards and exact specifications in terms of materials, technologies and finishes. A key part of Prestige Kingfisher towers’ success is the Prestige brand value, which is known for its ultra luxury standards of design and construction.
Fact 3: Apartments begin from the 5 floor and up
The apartments of the Kingfisher Towers begin only from the fifth floor and up. The higher you go, the higher the price. The first four floors and the two floors in the basement are reserved for car parking, and each resident would be getting around five car parks.
Fact 4: Backstory of its location
Many people often forget that the Kingfisher Towers were built on the site that used to be liquor baron Vijay Mallya’s ancestral home. The project was built on a 4.5 acre land has 81 apartments in three blocks with a total of 34 storeys. The 40,000 sqft penthouse on the top two floor belongs to Mallya. However, In 2016, the Enforcement Directorate (ED) had attached Mallya’s properties worth Rs 6,630 crore, seizing his farmhouse, flats and FDs. It might have been built at his home, but he’s not there anymore.
Fact 5: It’s an extension of UB city
It’s expensive pricing is mostly due to being an extension of UB City. UB City is a luxury business district in Bangalore that consist of six main blocks: UB Tower, Kingfisher Plaza, Concorde, Canberra, Comet and, of course, the Kingfisher Towers. In total, the built up area is around 16 lakh square feet. UB City was pioneered in a Joint venture between UB group and Prestige Group, hosting around 1MN square feet..of high end commercial, retail and service apartment space. UB group stands for United Breweries Holdings limited, which markets beer under the Kingfisher brand that gave the Kingfisher Towers its name. Homes in Kingfisher Towers are usually handed over to its high-profile buyers even as United Breweries Holdings Ltd’s share of apartments remain largely unsold. Another feather in UB City’s hat is, UB Tower – the tallest structure in Karnataka as on date, measuring up to a height of 123 m, the tower houses the UB Group offices. Standing at 115 m, Concorde Block is the second tallest structure within the UB City complex, followed by the Canberra Block which stands at 105 m
Fact 6: Vijay Mallya had a secret entrance there
Since it was an ambitious project, Vijay Mallya spared no expense when building the entries to his apartment. The apartments have five points of entry, but originally, only two were used. Most residents used the Kasturba Road Cross entry, and Vijay Mallya had a separate entry from Vittal Mallya Road when he used to live there. This separate entry was adorned on one side by a 39,000 square feet private garden that used to lead him to his personal lobby, which is a home office, and like other apartments, had a private lift. Instead, his lift led to his penthouse. We mentioned earlier that each resident would have a designated space for around three to five cars. Well, Mallya used to get a cark park area that could accommodate 100 cars, and another designated area where he could showcase his collection of vintage cars.
Fact 7: Two apartments sold for Rs 35 crore
Most people might be aware that the Kingfisher Tower apartments are some of the most expensive in Bangalore, but how expensive are they, exactly? Well, two apartments in the posh Kingfisher Towers sold for Rs 35 crore each. One of them was bought by Amit Chawla, the Chief executive of Reward 360, and the other one had been purchased by the CEO of a city-based pharmaceutical supplier, who did not wish to be named. Both apartments are 8,450/sqft each and are located on the fifth floor of the building. In fact, the Kingfisher Towers are widely considered to be the most expensive residential project in the city. To put it in perspective, the current per-sqft rate for apartments in the Kingfisher Towers is around Rs 41,420 However, in previous years, UBHL sold seven flats for a little over ₹ 150 crore, according to the company’s 2015 annual report
Fact 8: It made headlines when it was announced
Being the most expensive and luxurious project in the city, the announcement that the Kingfisher Towers were going to be built made headlines among many Indian newspapers.
Times of India was the one to first announce that Vijay Mallya was demolishing his ancestral home on Vittal Mallya Road to make way for his ultra-luxury 34 storey project.
Fact 9: Millionaire egos modified the construction
However, the project originally was going to have around 100 units in three different sizes. The plans changed to have apartments of one size of 8,000 square feet due to something that actually made sense. Many millionaire buyers didn’t like the idea of there being different apartment sizes, as this could possibly cause an ego clash between them. I’m sure no one would want to have to deal with a group of millionaires squabbling on who has the biggest apartment in the Kingfisher Towers, so they settled down for what we know today. Still doesn’t change the fact that it’s ultra-luxurious.
Fact 10: its buyers tend to be CEO’s
As you’ve probably guessed, most of those who buy or rent apartments at the Kingfisher Towers are CEO’s, investors and end-users who want to retire at the tower. Considering the prices for each apartment, it’s no surprise that they are.
So, this was my countdown of the most impressive facts about the Prestige Kingfisher Towers If you agree with my picks, make sure to leave me a comment down below on what you think.
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