Real estate major Sunil Mantri Group, has identified Bangalore as a strategic target for expansion with the launch of an integrated residential community project christened as Mantri Premero, in close proximity to major IT companies, the Electronic City, and ITPB. The total net worth of the project, would be Rs. 250 crore.
Speaking on the launch, Sunil Mantri, Chairman, Sunil Mantri Group commented, “Bangalore, being one of the most prominent landmarks on the world map, inspired us to develop good quality homes and spaces that are on par with world-class standards. Now, with Mantri Premero, Bangalore will have exclusive lifestyle homes with the blend of affordable amenities that integrate nature with every day dwelling”. Complete News here.
Archive for the ‘Builder’ Category
The Launch of Township Project “The Empyrean” at Bangalore
Friday, October 16th, 2009FIRE Luxur Developer Pvt. Ltd. announced the launch of Phase 1 of its township ‘The Empyrean’ at Bangalore. FIRE Luxur Developers Pvt. Ltd. is a JV company formed between FIRE (First Indian Real Estate) Capital Fund, a Private Equity Fund focused on Indian Real Estate and The Nilgiris Group of Bangalore, with a project outlay of over USD 350 million.
The Empyrean is located on the outskirts of Bangalore, towards east of Whitefield, away from the congestion of the city. It’s proximity to five existing and upcoming IT Hubs, is expected to make it a preferred destination among the IT/ITeS professionals.
The low rise, low density residential development has multi- housing option including five spacious options of villas with sizes ranging from 2,095 sq ft to 5,500 sq ft, very attractively priced at an average overall price of Rs 2250 per sq ft. All the major amenities are clustered at the centre of the Township, with a Clubhouse, Primary School and Shopping Centre nestled around a Central Park, designed in neighbourhood cluster format providing easy on-foot accessibility for every resident.
The project has already received Environment Clearance from the State Level Environment Impact Assessment Authority, Karnataka and the Layout Plan Approval from Department of Town & Country Planning.The Empyrean will be developed as a modern ‘Garden City’, offering a differentiated proposition in a city dotted with frantic real estate growth.This is the third investment in India after ‘Silver Springs’ in Indore and ‘The Empyrean’ in Nagpur.
Reference:
fire luxur announces the launch of its township project the empyrean at Bangalore
Single bedroom apartments and small homes will become norm in future
Wednesday, August 19th, 2009Demand and enquires for small or affordable home is increasing in last two or three months. In the coming month, sale of property will increase since people who postponed purchase in October due to recession and instability in market are firming up their mind.
Developers and most companies as reported increase in sale of property by 60 per cent in second quarter. In the recently concluded CREDAI Realty expo besides large number of enquiries in new projects 36 housing units were sold on the spot.
Single bedroom apartment or small homes were exception in past. Developers or builders are looking this segment as feasible opportunity to offer affordable home. Several projects are being modified to fit in 1 BHKs.
The recession has also bring down the cost in the affordable home segment, range from Rs. 15 lakh to Rs. 25 lakh in well-developed areas. As the demand for space increases along with the need for affordable houses, 1 BHK apartments and small homes will become a norm in the future.
Before the recession set in, 1 BHKs were confined mostly to projects developed by Category C developers whereas even Category A developers are also pitching in into affordable home segment now. This is also the best time for customers to buy homes, as prices could go up again in near future.
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Shobha Developers Received Approval to Raise its Share Capital
Saturday, June 20th, 2009Shobha Developers Bangalore received approval to raise its share capital to Rs 1500 Crore. The company got approval from shareholders at its shareholders meeting hike Foreign Institutional Investors limit to around 100% of company’s equity share capital.
Shobha Developers said that on shareholders meeting company received approval from shareholders to raise Rs 1500 crore from domestic and international market. Company will also hike Foreign Institutional Investors (FII) limit to 100%. The company said in a filing to the Bombay Stock Exchange (BSE).
The company would raise capital to Rs 1500 crore from International market by issuing shares through American Depository Receipts, Global Depository Receipts and from domestic routes through warrants and debentures.
Further, the company will increase the FII investment limit in the company to 100% of the paid-up capital, provided the equity shareholding of each FII shall not exceed 10% of the total paid-up equity share capital of the company.
Reference:
sobha developers gets shareholders nod to raise rs1500 crore
