Bangalore, Mar 17 Mantri Realty Ltd, a Sunil Mantri Enterprise, has launched five real estate projects in Bangalore. The total land investment in Bangalore is to the tune of Rs 550 crore, a press release from the company said.
Sunil Mantri, chairman of Mantri Realty said, “these projects consist of innovative ideas and quality construction. All these projects have been designed by international architects and we want to price it as a premium category and give amenities which make luxurious living a basic minimum standard.”
In addition, he said the company has acquired around 500 acres in Bangalore and projects on these lands would be launched in the financial year 2008-09. Mantri Realty aims to create 10,000 houses in three years in Bangalore alone.
The company plans to launch five township projects ranging from 1,000-5,000 houses in each township in the acquired land.
The company has also been promoting projects in Belgaum, one of largest cities in Karnataka.
The company has already acquired two prime properties in Belgaum. One property is of around 300 acres for a residential township, where around 5,000 houses would be constructed at an estimated cost of Rs 500 crore.
The second property is around 200 acres at the outskirts of Belgaum costing Rs. 200 crore.
The overall investment in the City of Belgaum by Mantri Realty would be to the tune of Rs 700 crore.