Apartments fit for a king
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According to Sushil Mantri, Managing Director, Mantri Developers, he and his wife drew out an initial list of 40 likely customers and sent feelers. Fifteen among this list of "the rich and the famous" were given the agreement papers.
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NEW HEIGHTS: Mantri altius, an artistic view of the 18-floor apartment near Infantry Road in Bangalore.
THE REAL estate scene in the country is changing and how. Following the global trend of handpicking apartment buyers, Bangalore-based Mantri Developers has identified, short-listed and selected 15 people who will occupy apartments at Mantri Altius, expected to be one of the country's most prestigious addresses, by March 2006.
With each apartment being sold at Rs. 6 crores (at Rs. 10,000 per sq. ft.), Mantri Altius will be talked about not just for its pricing but also for the way the apartments were sold to owner, thus setting a new lifestyle trend in the country. According to Sushil Mantri, Managing Director, Mantri Developers, he and his wife drew out an initial list of 40 likely customers and sent feelers to them.
After two rounds of discussions, 15 among this list of "the rich and the famous" were given the agreement papers. Says Mr. Mantri: "We wanted to create a community of 15 friends with their families, a sort of community living in the best neighbourhood in the city." His criteria for selecting the prospective owners: 40-50 years old, professionally non-competitive, similar family background and lifestyle.
Elaborating on some features that Altius boasts of, Mr. Mantri says the architecture and the design matches global standards. In fact, he and his team members visited Singapore and Dubai to study how some of the super premium homes were built there.
Seven-star hotel lobby
As all super-premium homes are built at one level only, it was decided that Altius homes (about 5,600 sq. ft. each) will go for the same design specification and thus there will be one apartment per floor. This will give occupants a 360-degree view of the landscape around them. Mr. Mantri says that this concept is further facilitated by the generous use of glass and stainless steel all over the house.
Luxury and aesthetics will be the hallmark of the building and that's why Mr. Mantri roped in Singapore-based RSP Architects to design Altius. The ground floor lounge will be nothing less than a seven-star hotel lobby complete with a receptionist and vending machines. Designers, who worked on the lobby of Melbourne Crown Hotel, are designing the 18,000 sq. ft. clubhouse at Altius, according to Mr. Mantri. A huge swimming pool is coming up on the ground floor.
Guests to be entertained at the homes have to go through stringent security checks, including video screening, and can get into the lift only after the host gives an okay. Security personnel will add to the protection offered by electronic fencing. As each floor has just one apartment, the lift opens into the drawing room and there is no front door for the 15 homes, Mr. Mantri says.
In fact, the security process will be so strict that the occupants and their service team can enter the houses after passing through biometric identification checks.
Mr. Mantri talks of other features that are unprecedented in the home-building industry. Most building designs, even super premium ones, overlook little details such as basement car park. "I went to a Mercedes showroom and measured the length of a Mercedes `S' Class car so that the basement car park can be designed to enable easy manoeuvrability of these cars." After the 15 owners were firmed up, they were invited for a presentation by the architect's team. "In fact, we asked them to design the health club themselves because they have to be given a choice in what equipment they want to use," Mr. Mantri says.
Vaasthu
With vaasthu gaining importance in all building designs, Altius has not overlooked this aspect. "It was easier here because of the fact that there's just one apartment per floor and all of them face the same direction," Mr. Mantri says.
Justifying the pricing, Mr. Mantri says that living at the Altius will give owners a bungalow experience. "A bungalow with these features at this location would cost nothing less than Rs. 10 crores. And at almost half the price, they are getting the best features any apartment complex can boast of." But Mr. Mantri says that all the homes come with some regulations. The 15 owners are bound by strict resale and rental policies as drawn out by Mantri Developers. When one of the owners is considering resale, he or she has to get the permission of at least 67 per cent of the apartment owners.
Explaining the reason for this, he says he has specifically targeted buyers who would enjoy the experience of staying here with their families, and is not looking at investors or speculators. "I could have developed it as a commercial property as it is in the central business district. But the brilliance of the location and the panoramic view would have been lost then," he says. Also, he is strict about not allowing companies to use this as a guesthouse.
Mr. Mantri says that while premium houses are being sold all over the country, this is the first time that a super-premium offering is being made in South India. In Bangalore, the closest any competitor has come to Altius in pricing is Rs. 2 crores per apartment. But it is the selection process which may trigger a new practice in the country. In fact, Mr. Mantri is already on the lookout for land in Hyderabad, Pune and Chennai to launch similar premium projects there.
Who bought them?
There is a lot of interest about Bangalore's "who's who" who have made it to Altius 15. But Mr. Mantri refused to divulge details of the owners. He only revealed that almost 65 per cent of them are local people, while the rest are non-resident Indians who will soon move into India.
Reiterating that community living will be the uppermost philosophy behind the way apartments are being built and sold, Mr. Mantri, who will occupy the penthouse in the building, says: "Don't be surprised if we all charter a plane and fly off on a holiday together next year."
ANJALI PRAYAG
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