The “Reality” of home buyers & borrowing in the real estate sector

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banks, homes, interest rates, Investment, loans, market, Real Estate

 

 

The massive market crash witnessed almost all over the world in 2008 is usually credited to the solitary reason being Subprime, at least is the case in the USA. There are many out there who won’t be familiar with this term. Subprime is a type of loan usually given to an individual with a limited or poor credit history. Even individuals who have good credit history tend to be classified under the subprime category. The reason being that many a time they choose not to fully disclose or verify their income or assets provided in the process. Subprime loans tend to have high credit risks and garner high interest rates. Lenders use a detailed credit scoring system to determine whether a borrower can qualify for a loan and which kinds of loans. Today many prospective home owners are in the dark about the home loans, collateral, annual percentage rate (APR) etc.

In this post we shed some light on something which you might be unaware of. Annual percentage rate The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan.

To new home buyers, always make sure when going in for a home loan to check on interest rates with various lenders and to see which one’s offer the best package. Since home buyers usually take loans over a long term, interest rates and the terms of the loan are always negotiable. When you negotiate the interest rate and other terms of the loan, in turn it reduces the amount you owe to the bank in the long run or you can use the same to put it back in the repayment of the loan and shorten the time span of the loan.

Here are some helpful tips if you are looking to take a home loan:

• Banks charge a processing fee when giving loans, these usually range between .50 – 1%. On some occasions such as festive seasons banks waiver the processing fee, so always get an idea of the processing fee charged.
• Check out the best interest rates banks offer. Always go to different banks and check out the interest rates on offer and see the best deals you get, even a small slash in rates can make a world of a difference since home loans tend to be big (30 Lakhs+ home loan).
• When opting for a home loan, always take the time to read the loan agreement. Agreements generally tend to be very detailed but studying its content is always beneficial.
• Always keep in mind the job you have, since a part of your salary will go into paying back the loan. If you are in a high tax bracket it’s always better to opt for a home loan, which will enable you to avail to tax breaks for the principal amount paid on the interest. If possible try to set aside a sizable amount of money so as to be able to clear off the loan early which again will avail you to a tax break.

With these tips we hope that you move in to a house quickly and you choose wisely.

“Sushil Mantri-Big Bets, Big Rewards”

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#construction, autobiography, book, entrepreneurs, Mantri-Developers, Real Estate, rewards

 Through the ages the world has developed and modernized by leaps and bounds. During the age of industrialization businessmen and entrepreneurs cropped up like rice in paddy fields. Plying their trade in different branches of business and with rapid economic growth and development, the opportunities to make a living were far and wide and grew more lucrative as time marched on.

Nestled away in the relatively unexplored part of South East Asia, India is seen by many as a potential economic powerhouse. India with its vast resources available at its disposal has had economic ties with numerous countries for this very reason. In time the realty segment started to grow rapidly with commercial and residential projects sprouting up in the metros of India. Bangalore was one city where Realty witnessed a meteoric rise over a span of 20 years. With IT having encapsulated almost the whole of Bangalore, large crowds of IT professionals have descended upon the city to widen the scope of their careers.

In the year 1999 at the turn of the millennium a man by the name of Sushil Mantri came to Bangalore with one purpose in mind, to build an enterprise renowned for quality constructions and an industry leader in trends and innovations. From these ideals Mantri Developers was born and today it stands as South India’s leading real estate developer. An enthusiastic individual full of vigour and ideas, it was the perfect blend in a sector which had enormous growth potential. Those who have had the privilege to work with Mr. Sushil Mantri early on in his career would have hailed witness to his creative genius.

Over the years Mantri has been the cornerstone many a time, for example; Mantri was the First to partner with Morgan Stanley Real Estate for FDI in real estate in 2006. Some other milestones include Mantri being the first to provide individual swimming pools for penthouses in Bangalore since 2003 as well as the first to offer Home Concierge: on-call services at your doorstep, these are just some of the many milestones Sushil Mantri and his intrepid team have been responsible for.

So Ever wondered what it takes to start up a business in a relatively young market and go on build a billion dollar business organisation? ‘Sushil Mantri – Big Bets, Big Rewards’ is an insightful scripture into the life of Sushil Mantri. From the hardships, successes, challenges and hinges around his growth in the business to the rich experience he has gained, it promises to be a unique read. Today Mantri is a billion dollar organisation and one of South India’s leading real estate developers.

So what is the book about you may wonder? How does one man become a real estate giant from almost nothing? How does he face hardships and difficulties that come his way without being down trodden? Find out about all this and much more in Sushil Mantri’s ‘Sushil Mantri – Big Bets, Big Rewards’.

“In order to achieve success in any line of work, it is very important to take risks and chances.”

A world we call WebCity, a world you call home

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#building, #construction, Bangalore, homes, house, Mantri, Real Estate, social media, social media marketing, technology

A world we call WebCity, a world you call home

Mantri WebCity
“A world we call WebCity, a world you call home”
Bangalore today is referred to as the Silicon Valley of India. Going from being the Garden City to transforming into the nucleus of IT, Bangalore has witnessed the most rapid commercialization among any city within the country. The city is home to some of the biggest real-estate companies in India and some of the most unique projects and developments in the country. With Residential and Commercial projects cropping up all over the city there has been a rise in demand in housing solutions of various kinds. Today Bangalore stands as one of the top investment hubs of real estate in India.

Today Investors come with a host of expectations when it comes to their homes, being as it is one of their biggest long term investments. This has led developers in the market to continuously innovate as well as replicate current trends in architecture and design, such as projects with modern, classical, contemporary design themes, Eco themes and more. Large investments go into the development of projects to be able to provide sustainable and comfortable housing solutions for prospective customers.
Mantri Webcity is the first techno residential project inspired by new age technologies like Nano technology, robotics, cloud computing etc. a first of its kind in the real estate space. The Mantri WebCity provides a host of unique technological offerings to its residents such as GlimpIdea (App for the community), Mantri’s Digital Life, Music Wall, Live Earth Screens and more. Such technological introductions are aimed at keeping residents connected and socialize in the community where they are living by incorporating the social networking elements in their daily life.
The towers draw inspirations from neoclassical and contemporary architecture, buildings are arranged to present each “room with a view” overlooking lush surroundings inspired by English gardens. Such ideas and creations are sure to push the tempo of innovations with some truly inspired ideas set to take the real-estate vertical by storm in the future.
The Mantri WebCity aims to roll along with the times and keep up with technology and today’s trend of connecting people.

”Live construction Status- keep track of the progress of your project from anywhere, anytime”

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#building, #camera, #construction, #mantrialpyne, #real-estate, #surveillance, Bangalore, Mantri

Over the years India and Bangalore in particular have witnessed a meteoric rise in demand for homes from leading developers across the country. With customers spending on affordable homes to high end premium housing there is a consistent demand for modern, stylish housing. Bangalore has had a consistent and continuously rising demand in housing solutions aiding to the development of projects all over the city. This has led to the widening of the boundaries of the city of what previously used to be considered as the outskirts are now a part of the city.

With such a rise in investment and demand, the expectations of customers has risen with developers building modern, state of the art projects brimmed with amenities to cater to residents who now have a variety of  expectations. Bookings for projects are being made available before or during construction. There is always an expectation from customers to keep a check on the status of their home which is one of their largest investments.

Mantri Developers introduced their latest brainchild -”The Live construction Status” .They have incorporated this feature in their latest project, the Mantri Alpyne. The” Live construction Status” was introduced to reduce the hassle of residents having to keep track of the progress of the project. Usually residents have to refer to updated images posted by the developer or have to travel to the site which is a huge ask if they live far off.

The” Live construction Status” is the first of its kind used by any organization in the real estate vertical. This gives prospective residents the flexibility to monitor the construction progress without having to be there in person or wait for updates or images of the same. The concept utilizes five cameras strategically placed around the confines of the project; this therefore allows residents and prospective buyers to keep a tab on construction, as well as being able to see how work is carried out. This is purely used to cater to the needs and requirements of the consumer.

This initiative has been introduced by Mantri developers in Mantri Alpyne, the project is located at Banashankari 5^th stage and is well connected to the city’s business districts, educational institutions and shopping areas. The architecture draws its inspiration from the infamous Georgian townhouse era. At the same time the project focuses a lot on an environmentally friendly atmosphere and looks to inculcate a green concept in the project as a whole.

This innovation has truly revolutionized the purchasing experience of a property as well as providing a sense of security in the minds of the consumer.

Towards a sustainable future

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CII Awards, corporate sustainability, Mantri-Developers, Real Estate. Awards, South India Real Estate, Top Stories

Corporate sustainability is a business approach that creates long-term consume and employee value by not only creating a “green” strategy aimed towards the natural environment, but taking into consideration every dimension of how a business operates in the social, cultural, and economic environment. Also formulating strategies to build a company that fosters longevity through transparency and proper employee development (wiki)

Businesses’ responsibility to give back to the community is one of the important attribute of Corporate Sustainability. Mantri Developers has done this over the years and have taken major steps to contribute toward the betterment of the society. Some of the various sustainability challenges taken by MDPL are in the areas of livelihood, Education, Green Spaces, Smart home solutions, Construction safety to name a few.

Some of the initiatives towards the sustainability by MDPL included Mantri Partnering with the Lake Development Authority, Govt. of Karnataka, to revive Bangalore’s Mahadevapura Lake. Entering into a PPP with the Bangalore Metro Rail Corporation to build the Malleshwaram Metro station in Bangalore on 5 acres of Mantri Developers owned land. Restoring 3 Major parks and also having adopted several other parks and water bodies to develop green spaces, in the city. Mantri Developers has also installed windmills of 15.75 MW generating around 4 Cr units per annum to provide electricity to nearby villages.

Mantri S.E.V.A, a social responsibility wing by MDPL had many Community development activities which included associating with Hippocampus and conducting a drive to collect old books for underprivileged children. Also old cloths collection drive in association with Goonj NGO. Donating hearing aids and hosting a speech therapy session for special kids (deaf and dumb) as well as conducting eye check-up camps for construction workers.

Mantri Developers also have a unique 360° approach when it comes to Customer Relationship Management. The company helps customers customize their houses and maintains their property as well. Keeping these initiatives in mind, recently Mantri Developers Pvt Ltd was conferred with the most coveted CII-ITC Sustainability Award for the year on 15^th January 2012. This prestigious award was presented by the Honourable President of India, Shri Pranab Mukherjee to Mr. Sushil Mantri, Chairman and Managing Director, Mantri Developers Pvt Ltd., at a special event organised by CII in New Delhi.

CII-ITC sustainability awards is an industry benchmark to recognize the contribution of notable thought leaders, promoters and institutions which helped to translate the vision of creating a sustainable world into reality and have successfully instituted sustainability in some element of their business.

Digital Living = Smart Living with Mantri Developers

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Mantri-Developers, Smart Homes, South India Real Estate

Mantri Developers are always known to be a trendsetter in the real estate industry. Be it the first to provide individual swimming pools for penthouses in Bangalore OR first to introduce tele-medicine for residential properties in India.  Mantri Developers can be credited with pioneering a number of “Firsts”.

With changing times it brings in a change in lifestyles, technology has changed it for the better. Technology has certainly changed the way we live and home is no exception.

Mantri Developers has always been an early adaptor of technology towards enhancing customer experience and one of the most influential and innovative brands when it comes to smart homes technology as well.

The Mantri Developers digital mannequin is a trendsetter in the industry. This internally conceptualized digital interactive mannequin helps customers learn about the organization and upcoming projects at a click of a button.

At The marketing office of all Mantri’s projects Digital Kiosks have been installed which act like an information guide to one and all,  sales executives at the sites showcase and explain projects in a full 360 degree panoramic view from the ipads at the office specifically kept to aid the consumers.

 Mantri Developers also provide an easy and quick communication process: “Call Back” option & “24 x 7 Video Chat” have been set up on Mantri’s website. Mantri Developers also use ‘Augmented Reality’, an application which provides a 3-D view of the properties, offering a better experience to all its prospective customers. It’s these features which focuses mainly on customer satisfaction sets Mantri Developers stand out from the rest.

The future is all about incorporating advanced technologies in our lifestyle to add more comfort and leisure. Mantri believes that connected communities and a sustainable ecosystem will shape the cities of the future and leveraging digital lifestyle solutions would be critical in achieving this. Mantri’s smart homes projects such as Mantri Espana & Mantri DSK Pinnacle will bring about such an experience in lifestyles.

We live in fast-paced world trying to manage more things than ever before. With intense work pressures and tough deadlines these innovations help us in living a better life which is more comfortable and smarter.

Please visit the new Mantri website – www.mantri.in and do share your experiences with us.

Mantri Aura, within your means.

The industry is constantly looking at the construction of affordable housing as the concept came into being in India. Some time ago, it was hard for the common man to buy a house for himself. Today, it cannot be said that it is easy, but there is certainly hope for many.

According to a study*, in the last decade, the urban population of India grew at a CAGR of 2.8%, resulting in he increase in level of urbanization from 27.81% to 31.16%. This growing concentration of people in urban areas has led to problems of land shortage, housing shortfall and congested transit and has also severely stressed the existing basic amenities such as water, power and open spaces of the towns and cities.

With emergence of strong middle class segment, the real estate market has been witnessing the need of affordable housing. Consumers are now pleased that the developers are beginning to understand the true need of the market and one can dream to buy their dream home.

People who are migrants from another city and cannot afford to buy high end houses immediately but are capable either renting houses or go for an affordable house.  Such people were forgotten by the private developers initially before the concept “affordable housing” came into the picture.

Keeping this in mind, Mantri Developers has come up with Mantri Aura, located on Hennur main road.

Mantri Aura architectural design is simple yet brings one a sense of global living. The tower draws inspiration from neoclassical and contemporary architecture and is accessible from City’s ring road. This residential property also comes with a world class club house, indoor and outdoor amenities.

Affordable housing is now the buzzword as there is no denying that with the strong emergence of middle class segments.  Considering the Indian economy and the population one can just say affordable housing with varied amenities is here to stay.
* Study statistics by Jones Lang LaSalle

Spacethetics (Making your creative visions for your home a reality)

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creative visions, interior decoration, Real Estate, South India Real Estate, Spacethetics

Everyone needs a house, a place where to rest and feel well and to customize it to own needs. Most people have a vision to create and design about their dream living spaces and make it their own. Imagine if one could compliment your luxury living space with top-notch furniture, comfort to your living room and that contemporary ease & touch to your kitchen. To make all this reality, Mantri Developers has come up with a novel concept called Spacethetics.

When we have so many decisions to take during a day sometimes we find it difficult to stay and search for all kind of interior design furniture. At Mantri, things are different. Our experts help create a suitable environment that will make you feel at home with your likes.

Spacethetics is a concept that makes your creative visions for your dream home a reality. In other words, one can be an interior decorator for their house by choosing from Spacethetics, a one-stop shop for all your requirements. A wide range of world class brands, what might go well with your mood and home; be it the kitchen cabinets, wardrobes, or your choice of colour for the walls.

Creating work and living spaces, a stylish kitchen cabinet, homely living room all designed to your needs & desires with a perfect combination of the right choices of colors & textiles is the aim which Spacethetics wishes to achieve. Know more about Spacethetics here
http://www.mantri.in/spacethetics.html

Decorating home was never this fun before.

What are some of your options; do let us know by leaving a comment below.

The NRI investments trends in real estate India

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Bangalore, Builders, Mantri-Developers, NRI, Real Estate, South India Real Estate

With Real Estate investment norms for NRI simplified recently, this is indeed the best time for NRI’s to invest in the real estate sector in India.  The rupee has fallen against most major currencies this year and the icing on the cake has been RBI has deregulated interest rates on NRI deposits.

With houses becoming affordable these days, it’s easier for a working professional to afford one. Mr Sushil Mantri, Chairman and Founder of Mantri Developers agree to it and he says, “It is true. If you see Bangalore market from the year 2000 has totally shifted towards IT customers. The term ‘Affordable housing’ came into limelight during recession and many projects were altered and redesigned to make it more affordable and it was successful. During recession, property prices went down by 20 to 25% and the focus from IT shifted to non-IT sectors like bank, insurance company, chartered accountant etc. Since IT industry was badly hit that time we received more bookings from non-IT sectors. 3BHK which we were selling at 80 lakhs saw a drop to 45 lakhs.” Experts say if you are an NRI, you can expect to benefit from a weakening rupee for some more time, provided you keep your money invested in India. With so many real estate options to choose from in India today, one can not only dream of owning a property in India today but can be the owner of one.

Mr Mantri also says that investment in real estate in India has a very good investment opportunity in the next five years as the purchasing power of the investors has increased leading to the demand for properties.

Mantri Danceotsav II is back!

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Bangalore, Bangalore Real Estate, Dance, dance masters, Mantri, Mantri Danceotsav, Mantri-Developers, Real Estate, real-estate-india, South India Real Estate

Mantri Danceotsav 2011 was a hugely successful event and it left people wanting more & more. We as people feel the need to dance to show excitement , Happiness or even just to let go and that was what exactly happened in the 2011 edition of the Mantri Danceotsav where residents’ of all age group got a chance to dance and compete with their neighbors’ and even won exciting and  huge cash prizes.

It’s Bigger, Better & Bolder this time around. Mantri Developers is giving an exclusive stage & spotlight and all that has to be done is Dance!

Judged by Bangalore’s celebrity dance masters and prizes to be won worth more than Rs 3.5 Lakhs

The auditions will start on 23^rd June and the Last date for registrations is June 18^th 2012.
http://mantri.in/insignia/danceotsav.html
. Judges for auditions are Tarantismo Dance Academy & ASDA.

This year will be Bigger, Better and Bolder and the whole process of auditions and the final itself can all be viewed in the Official Mantri Youtube Channel  , as well as the Flickr Channel

“Dance is the hidden language of the soul”