Exclusivity touches new heights

Super-premium flats only for `handpicked' clients

The Hindu Business Line

HAVE money, will buy. Very soon, this maxim may not hold good in the real estate scene in the country.

In what seems to be an unprecedented practice in the way super-premium homes are sold, the Bangalore-based Mantri Developers have built and sold apartments to clients `handpicked' by them through a selection process.

Fifteen `select' people will now become the proud owners of exclusive apartments costing Rs 6 crore each at Mantri Altius, a residential complex located off Cubbon Park in Bangalore.

At Rs 10,000 per sq ft, these homes will be talked-about not just for their pricing, but for the way they were `sold' to each owner. Mr Sushil Mantri, Managing Director, Mantri Developers, and his wife drew out an initial list of 40 prospective owners and sent `feelers' to them about the luxury homes. After two rounds of discussions, the 15 `privileged among the privileged' were asked to sign the agreement papers.

Says Mr Mantri, "We wanted like-minded people to stay together and enjoy the benefits of community living in the best neighbourhood in the city."

His criteria for selecting prospective owners: 40-50-year-olds, professionally non-competitive, similar family backgrounds and lifestyle, etc. And he has set some regulations too: The owners are bound by strict resale and rental policies as drawn out by Mantri Developers which has been done mainly to keep away speculators and investors.

He has plans to take the concept to Chennai, Hyderabad and Pune soon.

It's not just the price or the sale process that's distinct about the project. The design is of global standards with the Singapore-based RSP Architects designing the complex. Across the world, all super-premium homes are spread at one level only. So it is at Altius.

Fifteen homes on 15 floors with the elevator opening in the drawing home of each home. And the ground floor lounge will resemble a seven-star hotel lobby complete with a receptionist and vending machines to entertain guests. Designers who designed the lobby of the Melbourne Crown Hotel are designing the 18,000 sq ft clubhouse at Altius.

Having decided to house the absolute `rich and famous' in this imposing grey and white and building, Mantri Developers also had to make security as stringent as possible. Therefore, all security checks are electronic, with guests going through video screening. In fact, the occupants themselves and the service team (domestic help, drivers, etc) can enter their homes only after passing through biometric identification checks, says Mr Mantri.

He also talks of how premium apartments in the country miss out on some crucial factors that can create hurdles later. The car park for instance, "I personally measured the length of a Mercedes `S' class car before designing the basement car park to facilitate easy manoeuvrability," says Mr Mantri, who himself is occupying the penthouse at Altius.