Mantri Developers is setting up its first residential property, Mantri Celestia, in Hyderabad. The 24 floors apartment project, comprising 1,152 flats, is expected to be ready by 2011. The apartment, that spreads across 11 acres, is coming up in Gachibowli, which is Hyderabad’s IT corridor.
Mantri Celestia will offer 2 and 3 BHK flats with prices starting at Rs 3, 440 per sq ft. The apartment will have six towers of 24 floors each. Mantri Developers claims that it is going to be the tallest residential complex in Gachibowli. According to the company, the project will see an investment of about Rs 350 crore. Funding will be done through debt, internal accruals and advances from customers.
To boost sales, Mantri Developers has also launched a no EMI scheme till delivery of the flat. Under the scheme, potential buyer can book a flat by paying Rs 3.5 lakh upfront. The consumer need not bother about installments till the delivery of the possession. Concessions will also be offered for apartments less than 1,200 sq ft.
According to Mantri Developers, as per Andhra Pradesh government regulations, apartments having sizes less than 1,200 sq ft attract no stamp duty and concessional registration charges at 2.5 per cent. All flats in Mantri Celestia are under 1, 200 sq ft and hence the benefit accrues to the customers.
Snehal Mantri, director of marketing at Mantri Developers said, "Mantri Celestia is the project designed for the age category of 25 to 30 years, who just started their career and want to own their dream home with all modern luxuries at value for money. Located at Gachibowli, a fast developing IT hub that has attracted many global & Indian IT heavyweights, Mantri Celestia offers the advantage of the globally popular concept of “Walk to Work”."
Celestia offers amenities such as gymnasium, health club with sauna, aerobics hall, Squash court and Billiards rooms besides salon for men and women. Outdoor amenities include swimming pool, paved garden walk, activity pool, tennis courts, jogging trail, promenade, senior citizen’s area and basketball post.
Apart from providing piped gas, Mantri Celestia will also offer s0tandby generator for lights in common areas, lifts and pumps besides 750 watts DG power back up for each apartment. It will also have an exclusive water purification pant in the premises with rain water harvesting scheme.
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