Tuesday, 15 September 2015

Mantri Developers Reviews- Chennai working professionals favour Madipakkam

Buoyed by its proximity to the OMR and Velachery, residential and commercial spaces in Madipakkam have changed significantly.

Many parts of the city saw major development when the realty boom happened in Chennai. R Ramkumar bought a plot in Madipakkam 20 years back and the scenario was drastically different then. “Madipakkam has developed a lot in the last six to seven years in a way that I had never imagined. Twenty years back, there were just a couple of houses around our plot but today, I can hardly see any vacant space,” he says.

Connectivity and social infrastructure have played a major role in changing the face of Madipakkam. R Sivakumar, CEO, Palace Homes says, “Residential and commercial spaces in Madipakkam have changed significantly in recent years due to its proximity to Velachery and affordability. The scenario here is quite similar to Anna Nagar and Mogappair. Its connectivity to OMR, Velachery and Alandur through the inner ring road, affordable pricing, the presence of schools, hospitals and other social amenities in and around Madipakkam have made the area a favoured location for working professionals in OMR and Velachery.”

The micro market has been seeing a lot of action from small scale builders as well. “As far as the residential market in Madipakkam is concerned, the area is dominated by small scale builders, who construct six to 12 homes in a project. Commercial space has seen a surge with a lot of well-known retail chains setting up outlets here. Prime spaces for commercial property are witnessing a huge demand in the locality,” says Nataraja S, chief manager, sales, Navin's.

Sivakumar feels that though there isn't much residential space left now towards the west of Madipakkam, a strong flow of residential and commercial activities can be seen in Ram Nagar and Kuberan Nagar. “Projects that cost around 30-50 lakh have been in huge demand in the locality.” he says.

While social infrastructure has seen only minimal changes in the past few mal changes in the past few years, physical infrastructure has undergone a massive change with the development of new roads, underground sewage and storm water drains.

Source from: http://content.magicbricks.com/industry-news/chennai-real-estate-news/chennai-working-professionals-favour-madipakkam/82821.html.

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Mantri Developers Reviews- Chennai's market witnessing noticeable growth

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Unlike the lukewarm real estate scenario of the country, Chennai's market witnessed noticeable growth during the first half of 2015.

Land acquisition issues, high cost of land, sundry approval delays and low margins, among other factors, have long created impediments for the growth of urban housing in the affordable segment across the country. Currently backed by a strong mandate from the government as well as by demand from end-users, this segment is expected to develop further in the long term. While premium and luxury housing segments continue to attract a lukewarm response from home buyers, the demand for affordable housing in our leading cities is on the rise.

According to CBRE's latest report on India's residential market, the southern markets of Chennai and Bangalore together led housing sales in the country, with more than 45 percent share of total sales among major cities, during the first half of this year. This demand for homes was primarily concentrated in the mid-end and affordable segments of these cities. While investors stayed away for the large part due to low return on investments, end-users in Chennai are probably making a gradual return as market sentiments revive amid an improving macro-economic climate in the country.

Although housing sales and new project launches saw a marginal dip in the first half of the year, the rate of decline slowed down substantially over the same period last year. As new project launches across leading cities declined marginally by about 3 percent in the first six months of 2015 over the last six months of 2014, Chennai noted an increase in new project launches during the same period. Most of these new housing projects were launched in the high-end mid-end segments, primarily concentrated in the secondary and peripheral regions of the city. Locations such as Old Mahabalipuram Road (OMR) and the Grand Southern Trunk (GST) Road in Chennai saw significant housing project launches during the January to June 2015 period.

Chennai's housing market saw a surge in the supply of fresh residential units across most micro-markets during the first half of the year. A substantial number of these new project launches were in the high-end mid-end segments, with nearly 70 percent being primarily concentrated in the city's southern micro-markets of OMR and GST Road. Due to its proximity to the IT Corridor and manufacturing hubs of Chennai, the southern region has been witnessing frenetic construction activity and accounted for a major share in all the new launch activity in the city.

Among other micro-markets in the city, Central and East Chennai noted the launch of a few high-end and luxury developments largely concentrated in locations such as Adyar, Kilpauk, Alwarpet, MRC Nagar and Gopalapuram. Meanwhile, a few projects in Central Chennai were repositioned in terms of pricing and sizing to garner interest from end users and investors alike.

Capital values in the high-end mid-end and premium luxury segments remained largely stable during the review period. Owing to limited demand for leasing properties, rental values also remained stable across most micro-markets in Chennai during the first half of 2015.

Source from: http://content.magicbricks.com/industry-news/chennai-real-estate-news/chennais-market-witnessing-noticeable-growth/82823.html

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Mantri Developers Reviews- Why Velachery is a preferred area in Chennai

Velachery offers a host of amenities that makes it one of the most preferred locations in the city. Velachery has been declared as the most preferred locality in Chennai by PropIndex (Apr Jun 2015), an India Apartment Index by Magicbricks. The availability of wide residential options, presence of different housing configurations, upcoming new properties, and an existing developed infrastructure is some reasons behind its popularity.

Before we indulge in the pros and cons of Velachery, it is imperative to mention that Apr-Jun 2015 quarter noted an interesting trend. Consumers preferred a price sensitive market, therefore, cities like Chennai, Bengaluru and Hyderabad fared well comparatively, this quarter.

Choose your locality as per your budget

The southern and western parts of Chennai witnessed real estate growth during these three months. Among the localities that did exceedingly well are Velachery, Adyar, Porur and Madipakkam. While Velachery offered maximum residential options in diverse budgets, Adyar followed closely in offering a variety of residential choices.

What does Velachery offer

Since apartments are the most demanded by buyers, let us further analyse what kind of configuration the buyers preferred. The average capital value prevalent is 5,900 to 7,800 per sq ft. According to the PropIndex report, 2BHK category was the dominant choice among buyers followed closely by the 3BK category. If these two BHK categories are compared historically, it can be seen that preference for the 2BHK format has comparatively fared better than in the last few quarters. The reason could be the rise in capital values making people opts for smaller sized formats to acquire homes in their budget. The 3BHK segment has witnessed a slight increase in consumer preference.


Improving road infrastructure, good quality apartments by renowned developers along with proximity to the Rajiv Gandhi IT Expressway is keeping the real estate market ticking in the locality. The locality is connected to almost all major parts of the city via the MRTS rail network with a station in Velachery itself. The airport is just 10 km away with the opening of the Pallavaram Highway, which leads to the International Airport at Meenambakkam.

"Velachery is situated close to less premium residential localities, yet it has a lot of greenery and planned roads, as compared to these areas. Also, most of the upcoming projects are re-developed constructions of large sites, originally inhabited by middle-class people, who today, are aiming at getting regular income,"says R Arun, a real estate broker.

Marked with a wide gamut of residential options across budget categories, relatively good infrastructure and an old world charm, it seems Velachery has all the elements to enjoy the status of the 'most sought after' locality in the city.

Source From- http://content.magicbricks.com/industry-news/chennai-real-estate-news/why-velachery-is-a-preferred-area-in-chennai/82795.html

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Wednesday, 9 September 2015

Mantri Developers Reviews- Mantri Developers Pvt. Ltd. honored at 7th CIDC Vishwakarma Awards 2015

Bengaluru March 17th 2015 : Mantri Developers Pvt. Ltd, one of the leading real estate developers in South India bagged two prestigious awards at the 7th CIDC Vishwakarma Awards 2015 at an event recently held in India Habitat Center, New Delhi. The Chief Guest for the ceremony was Shri Satyendra Jain, Hon’ble Minister of Health, Power and Public Works Department, Government of NCT of Delhi.

Mr. Sushil Mantri, Chairman and Managing Director, Mantri Developers was recognized as a pioneer in the construction industry and was lauded with the esteemed industry doyen award. The company was also conferred with the Best Professionally managed company award for its excellence in initiating innovative HR practices.

The CIDC Vishwakarma awards are inspired by the spirit of construction and creation patronized by Lord Vishwakarma the ruling deity of the Construction practices in India. Each year, this event is hosted in March by CIDC, the apex body that’s dedicated to work relentlessly towards promoting best practices within the Indian Construction Industry.

On receiving the award, Mr. Sushil Mantri, Chairman and Managing Director, Mantri Developers, said, “We are overwhelmed by the recognition Mantri has received at 7th CIDC Vishwakarma Awards 2015. It is indeed a matter of great pride to be recognized as an industry veteran. At Mantri, we constantly work towards achieving excellence in all our endeavors, such recognitions are much needed encouragements to continue our efforts. We always attempt to bring complete satisfaction to our customers, such recognitions will add further value to the reliability of Mantri as a brand.”

Mantri Developers is the only developer from Bengaluru to have received both the awards. Winning this award has reinforced the company’s strive for excellence and quality. The developers hope to bring more competence and structure to the HR segment in the real estate industry in the near future.

Source From:  http://www.mantri.in/about-mantri/newsroom.php

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Mantri Developers Reviews- Mantri Developers Organizes Cleanliness Drive to Evoke the Glory of Bengaluru

Bengaluru November 25th 2014 : Mantri Developers, South India’s leading real estate developer initiated Swachh Bengaluru, a recurring sustainable campaign, in an effort torestore the glory of the garden city. The drive was part of Mantri’s initiation to create a sense of global appeal to the city. In the recent past the city has emerged as a metropolitan hotspot and Swachh Bengaluru drive aims to create a more alluring image of Bengaluru for the visitors. The initiative witnessed combined support from across generations. While senior citizens were motivated by the enthusiasm of the young, their spirit inspired children to recreate the cleanliness and greenery of the city.

Students of Indus Community School andKids from Samarthanam Trust for the Disabled came forward to extend their support for the event. Police personnel, 500 residents of various Mantri properties, BBMP staff and Pourakarmikas also joined hands to clean plastic waste strewn on the pavements and streets. The volunteers also cleared posters and banners stapled to tree trunks, pamphlets stuck on electric poles and medians and helped in regulating the traffic movement. As part of the initiative, waste disposal bins wereinstalled in the city.Shopkeepers and locals around the area were briefed on abstaining from use of polythene covers and disposable plastic cups and inculcating these practices to keep the premises clean.

Along with these activities, awareness was created among locals on their role in mobilizing plastic free-zones, proper disposal of cigarette buds, plastic cups, chocolate wrappers etc. In an effort to tidy the sidewalks in the areas, Kerb stones were whitewashed and painted. The drive marked the first phase of the initiative and subsequent cleanliness drives will be organised on monthly basis to maintain the momentum of Swachh Bengaluru.The initiative aims at turning into a long drawn effort to gradually change the approach towards maintaining cleanliness in Bengaluru.

We urge every Bengalurean to take on the responsibility of keeping their surroundings clean. If each citizen acknowledges their role towards the environment and society, we can see a greener and vibrant Bengaluru in no time. Let’s together work towards making Bengaluru a global destination,”said Mr. Sateesh Reddy, MLA, BommanahalliandRavi Purshottam, Corporator, Arakere ward.

“At Mantri, we believe in being the change. Through Swachh Bengaluru, we are trying to set an example and lead the way for our citizens by dedicating ourselves to bringing back the glory of Benguluru. This is just a beginning and we are planning to conduct further campaigns in the near future.” said Mr. Sushil Mantri, Chairman & Managing Director, Mantri Developers Pvt. Ltd.

“The Swachh Bengaluru is a programme that is placed at the heart of evolving India. Being prudent promoters of transforming outlooks, we vouch our support for the cause. The cleanliness drive is our participation in the actively changing approach to sanitation across the country,” said Mrs. Snehal Mantri, Director, Marketing & HR, Mantri Developers Pvt. Ltd.

“Samarthanam Trust for the Disabled is indeed glad to partner with Mantri Developers for the Swacch Bengaluru initiative. There is no better way of serving humanity than ensuring clean surroundings to live in,”said Mahantesh GK, Founder Managing Trustee, Samarthanam Trust for the Disabled.
Source From: http://www.mantri.in/about-mantri/newsroom.php

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