Mantri Developers Reviews- Chennai buyers actively seeking affordable houses

With so many affordable options in terms of residential properties in the city, customers are having a field day when it comes to home buying. Trend watchers in Chennai feel that for most locals, owning a home in the city is a must.

However, with escalating prices, a majority of such prospective buyers are actively looking for affordable houses. These buyers constitute of people in the income group of Rs 30,000 - 1,00,000 per month or a little more. Therefore, we are talking about buyers who can pay EMIs worth Rs 9,000-30,000 per month.

Naturally, for buyers such as these owning a home is a better option than paying almost the same amount as rent. Affordable homes within 40 lakh are widely available in the city at a variety of locations.

Gokul Parsavnath of Homes and Property says, "Most buyers start small. This means that affordable houses have takers despite a person's income. One might be earning 1.5 lakh per month but that doesn't deter him from looking out for affordable flats that do not compromise on living standards. There are buyers who have small businesses in the city and they are often on the move. For such buyers, a 1-BHK is a good investment which is not heavy on the pocket."
A quick search on Magicbricks will tell you that areas such as Tambaram, Madipakkam, Kelakattalai, OMR, Kolathur, Ambattur, Selaiyur, Padur, Pallavaram, Porur, Thiruverkadu, Navallur, Poonamallee, Urambakkam, Perumbakkam, Medavakkam, Chromepet, Potheri, Palikarnai, Sithalapakkam and Iyyapanthangal are some areas that you can shortlist.

Most properties on sale are either one or 2-BHK units in the size range of 400-1050 sq ft. With the exception of few established developers, others are mostly local developers with experience but have the repute of delivering projects as per the initial plans.

It is interesting to note that as per the latest edition of PropIndex, a research initiative by Magicbricks, some of the areas mentioned above have surfaced in the list of top preferred destinations for buyers.
So what should you check before investing in these properties? Kumar Rajendran, an individual consultant at Chennai Realty says, “Homes are available in every budget segment today.

The difference is only in terms of location and amenities. North Chennai has been garnering attention over the last six months and new land is being unlocked. However, the real question is its growth potential. Whether the region is liveable, are there jobs, how long will it take before basic utilities like hospitals and schools come up in the vicinity these are some of the questions you will need to research.“
Additionally, experts advice that you should go in for a thorough legal check of the property whether occupancy and completion certificates were given on time, the track record of the developer, quality of construction and whether it is authorised, etc.

While prices are always the primary determinant, trend watchers reveal that sometimes it becomes difficult to pitch a flat worth 20 lakh because the buyer is inclined towards further affordable deals. In a realistically priced market, price correction is not a probability.

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Mantri Developers Reviews- Bangalore guidance value to rise from October

Be prepared for some ripples in the realty sector. The government is planning to hike guidance value by 10-30% across the city in October first week. Guidance value is the minimum valuation at which properties must be registered with the government. While this may trigger a rise in property prices, experts believe it will also regularize the market by cutting down the black money component in transactions.

For example, a 1,800 sq ft three-bedroom flat in Yelahanka has a price tag of Rs 30 lakh (according to the last guidance value), but its market value is Rs 45 lakh. After revision, the official value would be Rs 35 lakh and the market value Rs 47 lakh since sellers tend to hike prices after every revision in guidance value. So, a buyer has to register his/her flat at Rs 35 lakh and pay the sel ler Rs 2 lakh more.

But some beg to differ. "Guidance value brings more sanity in property values. The revision primarily captures the trends in market transactions to reflect true value. Generally before the revision, buyers rush for registrations to get the benefit and soon after there is a lull. Then the market reconciles to the new values and transactions pick up,'' said Om Ahuja, CEO (residential), Brigade Group.

In November 2014, the hike in guidance value was 20-200% and this year, 10-30% as it is now an annual affair. The revenue department hopes to meet its tar get of Rs 8,200 crore. A senior revenue official said, "Property owners might actually benefit as banks generally give loan going by guidance value."

Source From:     http://content.magicbricks.com/industry-news/bangalore-real-estate-news/bangalore-guidance-value-to-rise-from-october/82728.html

 

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Mantri Developers Reviews- 3 factors making Ambattur popular in Chennai realty

Growing housing demand for affordable homes, presence of IT/ITeS companies and local developments have led to Ambattur’s popularity.

If you thought big names would be the flavour of this season, we have reasons to believe otherwise. The popularity of Ambattur and areas such as Urapakkam, Velachery and Porur have replaced the list of previously popular areas of Nungambakkam, Alwarpet, Anna Nagar and the likes.
 Here’s why -

Think affordable

Price sensitive Chennai market has almost 45 per cent takers for the sub Rs 50 lakh budget category. Needless to say, to cater to this overwhelming demand, there is always a hunt for localities offering economical and value for money housing units. Ambattur is one such place. As against areas like Nungambakkam with capital values exceeding Rs 90 lakh on an average,

Ambattur boasts of flats in the range of Rs 22 to 48 lakh. Here, affordability does not mean you have to compromise with facilities. Once an industrial hub and often overlooked by buyers for a more ‘decent’ buy like Avadi, today Ambattur stands to gain almost along the same lines as Old Mahabalipuram Road.

Be it gated communities, healthcare facilities, schools, convenience stores or a large number of IT/ITeS, textile companies - an investor can always draw benefit from these.
With large number of offices in the vicinity, the rental demand is also high. In a sluggish market, which prevails now, where most investors are contemplating selling their property, here’s one area that gives you the privilege of constant rental returns.

Source from: http://content.magicbricks.com/industry-news/chennai-real-estate-news/3-factors-making-ambattur-popular-in-chennai-realty/82740.html

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Mantri Developers Reviews- Mantri Developers Brings In The Green Living Experience

Bengaluru, January, 2014: Mantri Developers Private Ltd, one of the leading real estate companies in India, known for innovation and quality, announced the launch of Mantri Courtyard - Row Houses in Bengaluru. Located on a hillock off the Kankpura road Mantri Courtyard is build to cater to the increasing demand for world-class homes in Bengaluru. Offering tranquillity, splendour and class beyond compare, it is supported by the architectural expertise honed by years of Mantri Developers’s experience. The entire project has been marvellously designed using the natural slope of the hillock.

The project is situated in the midst of nature and with close proximity to the business districts, educational institutions and commercial establishments in the city. Mantri Courtyard is one of its kinds contemporary private Row Houses encumbered with all sophisticated amenities. The project is for the modern day upbeat families, to escape from the cities grind while enjoying globalized lifestyles surrounded by charming green. Each Row House has warm distinctive design character with a private green space. The living rooms are inimitably designed as reticent garden rather than an interior space. The panorama of landscaped precincts from the living space extends the whole spatial feel. The design investigates the potential of the synthesis of modern-day architecture with the traditional systems, thus giving vibrant treatment of the space and appearance.

Commenting on the launch of Mantri Courtyard, Mr Sushil Mantri, Managing Director and Chairman, Mantri Developers Private Ltd said, “We are delighted to launch Mantri Courtyard which will bring in the absolute green experience to your living space. The concept has been laid on providing personal green space to every resident along with state of the art amenities.”

Mantri Courtyard just one km away from Nice road junction comprises of 174 residential Row Houses sprawled across the innovative landscape. The project offers Independent Row Houses ranging from 157 sq.mt to 324.69 sq.mt with price starting from Rs. 1.08 Crore onwards*

The project also boasts of a luxurious clubhouse sprawled over 1453.93 sq.mt and offers all the modern day amenities like a swimming pool, health club, multipurpose hall, gymnasium, indoor squash court, TT room, mini theatre, aerobics and meditation hall, telemedicine room and many such facilities

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

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