1. Construction Stage and Possession
Phase 1 gives you a finished home that you can inspect, register and occupy within weeks. You can check natural light, the view from your balcony and the state of common areas in person.
Phase 2 is still at the pre-launch stage, so you buy based on floor plans and the master plan. Prestige Group estimates completion in about five years, with possession set for 31 December 2031. You wait longer for the keys, but you also lock in an early-stage price.
2. How You Buy: Resale vs Direct from the Builder
In Phase 1, you negotiate with an existing owner, and each seller sets their own price. Interiors, floor level and tower position shape that price, so two similar flats can differ widely.
In Phase 2, you buy from Prestige Group at a published price with a fixed payment schedule. You start by submitting an Expression of Interest, and formal booking opens after RERA approval. This route removes seller-side negotiation and gives you a clear cost sheet.
3. Price per Sq.ft and Appreciation
Housing.com reported early Phase 1 rates of about ₹6,499 to ₹6,699 per sq.ft. Phase 2 starts at ₹1.4 Crore onwards for a 2 BHK from 1,240 sq.ft. At that entry point, the rate works out to roughly ₹11,300 per sq.ft.
This gap shows how much the Konanakunte micro-market has grown since the original launch. The Green Line metro, Forum South Bengaluru and a mature resident base all pushed values upward. Phase 1 owners have already captured that growth, while Phase 2 buyers enter at the next price cycle.
4. GST and Total Cost of Ownership
You pay no GST on a ready Phase 1 home that already holds an Occupancy Certificate. Phase 2 attracts 5% GST because the homes are under construction at the time of sale.
Your Phase 2 cost sheet may also include car parking, clubhouse membership and maintenance deposits. In Phase 1, older flats may need repainting, new fittings or kitchen upgrades. Add these costs to both options before you compare the final figures.
5. Unit Sizes and Layouts
Phase 1 offers compact 2 BHK units from 1,204 sq.ft, along with 2.5 BHK, 3 BHK and 4 BHK homes. These layouts reflect planning from the mid-2010s, before home offices became common.
Phase 2 drops the 2.5 BHK format and gives you more space across each configuration:
- 2 BHK: 1,240 to 1,379 sq.ft
- 3 BHK: 1,830 to 1,970 sq.ft, including a variant with a home office
- 4 BHK: 2,450 to 2,726 sq.ft, with a home office option
The larger 3 BHK sizes suit growing families and buyers who work from home on most days.
6. RERA and Legal Checks
Phase 1 carries Karnataka RERA number PRM/KA/RERA/1251/310/PR/170913/000114. As a resale buyer, you must also verify the sale deed, khata, property tax receipts and Occupancy Certificate. Ask the seller for a no-dues letter from the apartment owners' association before you pay.
Phase 2 is awaiting its own registration with Karnataka RERA. Prestige Group has also applied for approvals with the BDA, BBMP and BMRDA. Once the RERA number is live, check it on the portal before you sign the agreement.
7. Risk, Returns and Investment Horizon
Phase 1 carries almost no delivery risk because the homes already exist. You can earn rent from the first month, which suits buyers who want immediate returns.
Phase 2 carries the usual under-construction risk, though Prestige Group's delivery record reduces that concern. The developer has delivered around 300 projects spanning about 188 million sq.ft. Investors with a five to seven year horizon often prefer this route for launch-to-possession appreciation.
