Prestige apartment projects Velachery payment plan

Published On: 15 June 2026

The payment plan for Prestige Park Street in Velachery is tied directly to how fast the building goes up, meaning you only pay as the floors are actually built. Because this project at 140 Velachery Road is in its 2026 pre-launch phase and won't be finished until October 2030, the developer spreads the total cost over a four-year period. You do not need to have all the cash upfront; instead, you pay in small percentages every time the construction crew finishes a major part of the structure.

The Booking Deposit and 10 Percent Agreement

To reserve a flat and lock in the early launch price, you start by paying an upfront Expression of Interest (EOI) deposit. This deposit is Rs 10 Lakhs if you are buying the 3 BHK, Rs 15 Lakhs for the 4 BHK, and Rs 20 Lakhs for the 4 BHK + Family Room or 4.5 BHK + Study layout. You have to pay this booking money out of your own bank account because home loan banks will not clear funds just for a token deposit.

A few weeks after you drop the token, the sales desk will call you to sign the formal building contract. To execute this work, you must pay a booking advance that brings your total contribution up to exactly 10 percent of the apartment's basic price. Once this 10 percent clears, the flat is officially blocked under owner name.

Stage-by-Stage Payments Over Four Years

The remaining 90 percent of the property cost is broken down into smaller chunks, usually around 5 to 10 percent at a time. The builder will only ask for the next check when they finish a specific job on the 3.48-acre land.

You pay a percentage when the heavy tractors finish digging out the earth. The next bill comes when the concrete foundation is poured, followed by another payment when the basement level is complete. As the four towers (A, B, C & D) start climbing, you write a check every time they finish casting the roof slab for the ground floor and the floors above it. Later on, they tie the payments to the work happening inside your specific flat, like when the brick walls are laid down or when the floor tiles are laid out.

The Final Handover and Extra Fees

The final payment is held back until the very end of the project in late 2030. You only pay the last remaining balance when the building is fully complete and the developer is ready to hand over your front door keys.

During this closing stage, you also have to clear all the government taxes and extra costs. This is when you pay the GST, the clubhouse membership fees, and the Tamil Nadu government registration charges to legally get the property papers stamped in your name. This setup keeps your money safe because if the work on the construction site stops, your payment demands stop too until the builder gets back to work.