Friday, 28 August 2015

Mantri Developers Review- Bangalore Housing Sentiment Rise While ROI Fall

Home buyers across the country expect real estate prices to fall by up to 10% over the next six months and they are willing to wait for over a year to buy property, a study by IIMBangalore and MagicBricks has found, signaling that festive season offers by developers have failed to attract buyers.

The Housing Sentiment Index (HSI) has dropped almost 20% over the past quarter across India, except in Bangalore, where sentiment has improved due to the uptick in IT industry. The aggregate HSI dropped to 93 from 117 in the previous quarter. An HSI of 100 suggests that buyers expect prices to remain at current levels while values lower and greater than 100 suggest that buyers expect prices to fall and rise, respectively.

The sentiment has worsened since the last quarter, until when buyers were expecting prices to rise. The percentage of buyers who expect prices to fall more than 10% has risen to 25% from 14% in the previous quarter. Almost a third of those surveyed said they were willing to wait more than a year before buying a property, something that does not bode well for the industry saddled with unsold units.

According to property research firm Liases Foras, at the end of the June 2013, the cumulative nationwide unsold inventory was 670 million sq ft. The National Housing Bank’s residential housing index, Residex, shows that 22 of the 26 cities it tracks have already seen a decline in home prices in the quarter to June and prices are expected to fall further. “A further 5-10% decline is expected in most markets,” said Sanjay Dutt, executive managing director of South Asia at real estate services firm Cushman & Wakefield.

Some correction in prices is already happening by way of freebies and promotions by developers. Waiver of stamp duty, registration fees, broker or agent’s bills, a foreign trip, a sedan, air conditioners, furnishings and modular kitchens worth several lakh rupees are some of the goodies on offer.

“Buyers are willing to strike deals if they find good value,” said Mudassir Zaidi, national director-residential at Knight Frank India. Apart from the freebies and promotions by developers, there are good opportunities to buy in the secondary market as several investors who had bought apartments over the last two years are desperate to exit and are willing to offer good discounts.

The worst is getting over, said Dutt, but added that it would still take six to twelve months for things to turn around. “The window of opportunity to buy at a good price is between now and the next monsoon,” he said. Buyers are hoping that political uncertainty will end with elections next year and with that the economy will also start to look up. “Buyers seem to prefer a ‘wait and watch’ strategy that could force developers’ hands to cut prices more aggressively to reduce inventory during the festive season,” said Professor Venkatesh Panchapagesan of IIM Bangalore.

The only market in the country where buyer sentiment is intact is Bangalore, with an HIS of 106, where buyers expect prices to increase albeit marginally. In the other seven major cities, the sentiment has turned negative, with Mumbai having the lowest HSI score of 81. The Telengana crisis has pushed the HIS score for Hyderabad to 83, a drop of 30%. The biggest drop, of 38%, is for properties in the Rs 2-5 crore category.

This segment has seen sales drop considerably in the NCR and Mumbai as the well-heeled also start to feel the impact of the slowdown. In Mumbai, sales of luxury homes have fallen 35% over the past three quarters while Gurgaon has witnessed a 40% drop in sales of such apartments. In Bangalore too, this segment has seen sales drop at least 20%, according to Liases Foras.

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Mantri Developers Review- Mantri Plans 120 Acre Township near Hebbal

Global investor Xander and Mantri Developers have struck an equal joint venture for Bangalore's largest residential township of 13 million sq ft, located in the north of the city near the upcoming suburb of Hebbal.

The project involving 9,000 apartments, to be launched early next calendar, will see Xander raising its commitment to the Bangalore-based developer to over $100 million (or approximately Rs 600 crore).

Xander is already an investor in a few mantri projects and the latest deal signals continued investor appetite for the city's end-user driven market, which absorbs between 30,000 and 35,000 residential units annually.

This is also one of the few equity investments made into the Indian residential real estate market in the recent past. Most fund houses are seen to be taking the debt-financing route to invest in the residential sector, while equity investments continue to pour in to commercial real-estate assets.

Mantri has drawn up plans to develop close to 9,000 residential units in a phased manner, by far the biggest residential rollout in the country's IT City, on a 120-acre land parcel located adjacent to ManyataEmbassy Business Park, in north Bangalore. The average ticket price of the units is expected to be in the Rs 1 crore bracket, with smaller unit sizes starting upwards of Rs 75 lakh.

Incidentally, the owner of the land parcel is one of Bangalore's biggest land aggregators, Reddy Veerana, who also has a stake in Manyata Embassy Business Park among other real-estate investments in the city.

Sushil Mantri CMD Mantri Developers confirmed Xander's equity participation in the project, which is expected to get a brand identity before the end of the ongoing calendar. The entire project will be completed over eight years, with an average development of 1.6 million sqft of residential space annually.

Mantri Developers, which has on board Morgan Stanley as an entity level investor, has completed 15 million sqft of residential development with approximately 20 million sqft of residential development under various stages of construction. Mantri's developments span the four big southern metros of Bangalore, Pune, Chennai and Hyderabad.

Besides residential, Mantri is also looking at a larger play in rent-yielding assets such as office, retail, and hospitality, which could see the developer build close to 10 million sq ft of space over the next five years. By the end of the same period, close to 35% of the developer's portfolio would constitute non-residential spaces, which at present is a small percentage when compared to the residential spaces.

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Mantri Developers Review- Bangalore Real Estate Awards 2014

Siliconindia in association with L&T Housing Finance have created a platform as an initiative to felicitate and recognize these real estate industry professionals who have contributed to evolve the landscape of the sector in the city by hosting the Bangalore real estate awards 2014.

The awards are based in terms of innovation, quality, reliability, technology and continuous improvements. On this note some categories were introduced, to encourage infrastructure development, foreign investments in the local bodies and real estate growth & companies.

The winners and their categories are as follows:
Young achiever of the year : Young achiever of the year was fetched by Mr. Karan Shetty, Executive Director RJ GROUP.

Female Real estate professional of the year : Female real estate professional of the year was won by Uzma Irfan, Executive Director corporate communications of Prestige Group.

Best Design Villa/Apartment project of the year 2014 : Best Design Villa project of the year 2014 for Bangalore was won by RMZ Corp for their project RMZ Sawaan in North Bangalore and From East Bangalore, Prestige Estates Projects Ltd won the award for their project “Prestige White Meadows”.

Best Design Apartment projects of the year 2014  :   Best Design Apartment projects of the year 2014 for Bangalore was won by Mana Projects Pvt. Ltd for their project Uber Verdant-East Bangalore & from North Bangalore, Prish- Properties India Pvt. Ltd won the award for their project Hanging Gardens.

Luxury Villa /Apartment project of the year- Bangalore North, CBD, West :Luxury Villa project of the year for North Bangalore was Won by  Krishna Enterprises (Housing & Infrastructures) India Pvt. Ltd for their project Krishna Northwood’s & From West Bangalore, Godrej Properties Ltd won the award for their project Gold County.

The winner of the Luxury Apartment project of the year for North Bangalore was won by RMZ Corp for their project RMZ Galleria & from Bangalore CBD limits, the winner for same category is Esteem Group for their project Esteem Splendor.

Mid-Range Apartment/ Villa Project of the year- Bangalore south, west, CBD limits :Mid-Range Apartment Project of the year for Bangalore West was won by GRC Infra Pvt. Ltd for their project GRC Brundavan. From Bangalore South the winner of same category is Aban  Developers for their project Aban Essence & For Bangalore CBD limits.  Mythreyi  Promoters Developers(P)Ltd won the award for their project Mythreyi Naimisha &The Mid-Range Villa project of the year-East Bangalore was fetched by Golden Gate Properties Ltd for their project Golden Homes.   

Affordable Apartment project of the year – East Bangalore was gone to DS-MAX Properties Pvt. Ltd for their project DS –MAX SANGAM.

Environment Friendly Project of the Year-Bangalore South, North :Environment Friendly Project of the Year-Bangalore South was gone to Mantri Developers Pvt. Ltd for their project Mantri DSK Pinnacle and From Bangalore North the same category award was won by G CORP Developers Pvt. Ltd for their project The Icon.

Ultra Luxury Apartment/Villa project of the year-Bangalore North, CBD, East, North : Ultra Luxury Apartment project of the year-Bangalore north was won by RMZ Corp for their project RMZ Latitude, From Bangalore-CBD Limits the same category award was gone to Brigade group for their project Brigade Crescent and From Bangalore-East, the winner for same category is Assets Property Group for their project 27 Park Avenue.

The Ultra Luxury Villa project of the year North Bangalore was fetched by Prestige Estates Projects Ltd for their project Prestige Golf shire.

Residential Plot Development of year-Bangalore North  : Residential Plot Development project of the year-Bangalore north was won by Goyal & Co. and Haryana Group for their project Orchid Nirvana.

Fastest Growing Real Estate Company in Bangalore : SNN Builders Pvt. Ltd won the award for Fastest Growing Real Estate Company in Bangalore. Benchmark Builder of the Year Definer VENTURES won the award Benchmark Builder of the Year.

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Wednesday, 26 August 2015

Mantri Developers Review- A Right Search for Real Estate Solutions

Bangalore, the Silicon Valley of India, is home to a large number of existing and upcoming real estate projects. The city is a popular destination for industries, IT firms and educational institutions. Read more to know about the real estate scenario in Bangalore.
Being a hub of commercial activities, the demand for commercial property in the city is increasing day-by-day. Bangalore is also one of the preferred destinations for young students willing to study in reputed colleges like IIM Bangalore, Bangalore Institute of Technology, Christ University, Presidency Business School, and Institute of Finance and International Management. Also, with the presence of some of the leading multinational companies in the city, more people are shifting their base to Bangalore in search of job. With the increase in the population in city, the demand for residential property is also increasing.

Real Estate Developers

The presence of various real estate developers in Bangalore has offered state-of-the-art residential as well as commercial properties. Shopping malls, IT centers, office areas, restaurants, etc. are well designed by reputed builders like Galaxy Developers, Pavani Homes, SRR Group, SRK Infrastructure and ETA Star. To meet the demand for real estate needs, Bangalore real estate has much more to offer, including apartments, independent houses, villas, serviced apartments and bungalows. With world-class infrastructure, the city is one of the best options to buy, rent or sell property.

Localities and Property Prices

Bangalore city has a number of localities that are ideal for buying your dream house. The southern and eastern regions of the city include several posh localities like Whitefield Road, Outer Ring Road, Airport Road, JP Nagar and Bannerghatta. These localities are the best options for selling and buying property. Other popular localities in the city include BTM Layout, Indira Nagar, K. R. Puram, and Koramangala. Apartments in prime localities like BTM Layout and Indira Nagar are expensive.
The price of flats available for sale or purchase in Bangalore mainly depends on various factors, including type of property, size, locality and facilities. For instance, a 2 BHK flat in BTM Layout, is available in residential projects like Shravanthi Prosper. The price varies from INR 30.60 lac (s) to INR 39.30 lac (s). Other popular residential apartments in BTM Layout include Raj Lakeview, Pariwar Pendant, and Sunshine. Similarly, 2 BHK flat in Bommanahalli are also available at attractive prices.

Due to an increase in foreign investments, high disposable income of people and globalization of the Indian economy, the property prices are increasing day by day, especially in city like Bangalore where employment opportunities are high for job seekers resulting in more people migrating to the city. The property developers in Bangalore are thus introducing new features and world class amenities to current projects in order to ensure that these are the best-selling properties in the city and attract more number of potential buyers.
Bangalore witnesses an increase in the prices and value of real estate market in comparison to the other cities in India. Looking at the demand for luxurious real estate projects for NRI investments and affordable projects for working class, Bangalore's property developers are coming up with various real estate projects. The real estate in the city is a perfect destination not only for residential but also for long-term investment.

So, begin your property search in Bangalore right now!

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Mantri Developers Review- Why It's the Right Time to Invest In Income Funds

Real estate sales are falling. There has been a 50 per cent rise in unsold housing inventory between June 2012 and December 2014. The top six markets - Bangalore, Chennai, Hyderabad, Mumbai Metropolitan Region (MMR), Delhi-National Capital Region (Delhi-NCR) and Pune - have nearly seven lakh unsold units, according to Liases Foras, a real estate research fi rm.
Is real estate losing its title as the most-preferred asset among Indians? The answer, looking at the data, is an unequivocal yes.
Between April 2014 and March 2015, sales fell 34 per cent in nine cities, as per data by, a real estate portal. These cities are Ahmedabad, Bangalore, Chennai, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida and Pune. Only 2.20 lakh units were sold in these cities in 2014/15, compared to 3.35 units in the corresponding period last year. Gurgaon saw the sharpest drop in sales, 57 per cent, while Pune fared better with a drop of 19 per cent.
The trend has surprised many observers. Real estate has always been the most sought-after asset class, given the kind of returns it has delivered in the past. Even after the fi nancial crisis of 2008, some residential markets saw fast growth. And, when equities bit the dust after 2008, people further increased their dependence on real estate and gold.
This rise in demand between 2009 and 2013 saw prices double in some markets. For example, Noida Extension, one of the key markets in the National Capital Region (NCR), prices almost doubled from Rs 1,830 per sq.ft. to Rs 3,476 per sq.ft. between March 2010 and March 2013, as per data by Prices in Panvel, Mumbai, rose from Rs 2,904 per sq.ft. to Rs 4,898 per sq.ft. Similarly, prices in Whitefi eld, Bengaluru, went up from Rs 2,400 per sq.ft. to Rs 4,134 per sq.ft. during the period.
But things have worsened after 2013. Since then, prices have stagnated or declined. The asset class turned out to be second-worst performer in 2014/15, when equities returned 25 per cent. Prices in micro markets like Dwarka Expressway, Noida Extension, Thane, Panvel, Whitefi eld, Shollinganalur and Dombivali rose just 1-4 per cent.
Even premium residential real estate markets were hit hard. As per a recent report by Jones Lang LaSalle, a real estate consultancy: "Areas in South and Central Delhi such as Vasant Vihar, Defence Colony, Jor Bagh and Golf Links have seen prices fall in the range of 15-20 per cent since 2013. Areas like Westend, Shantiniketan, Prithviraj Road, Aurangzeb Road and Amrita Shergill Marg have prices correct by 10-15 per cent."
Builders were expecting that a new government at the Centre and falling interest rates will help stimulate demand, but nothing of that sort has happened yet.
There were 2.33 lakh unsold units in NCR and 1.72 in MMR as on December 2014, a rise of 36 per cent and 47 per cent, respectively, from June 2012. However, it is Bengaluru that has seen the highest rise of 142 per cent in inventory since June 2012. The city has 1.01 lakh unsold units, as per Liases Foras.
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