Mantri Serenity review

Q: Whats the current psf price for serenity? Is it a good investment to go with Mantri serenity? What's the appreciation on the cards in span of 2 years or in longer run?

Janak Desai, Bangalore

16th December 2013

Residential Project Review in Mantri Serenity, Kanakapura Road, Bangalore

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Replies (15)

This is a project with NO DEADLINE, it has been delayed beyond thought. I doubt it will ever be completed at all.
I have booked an apartment in Phase 2, in 2013 it has been 5 years and no possession till date and now the new possession date is another 1 year from now.
It is not a trustworthy project, I recommend people not to buy apartments in this project, please do not suffer like the rest of us.

Regards
Abhishek

Abhishek Sudharshan,

16th July 2018

Comment

Mantri Serenity has a lot of issues.Kindly do not purchase the property in Mantri Serenity.There is a presence of Drain water storm,no control on no of flats,poor maintetance by Mantri builder,and they do not want RWA to be formed.There land in future may go in dispute.

Vikalp Kumar, Apartment Resident

1st August 2017

Comment

Need to know when is the project expected to get completed as I was thinking to book an apartment but cannot wait for the possession for more than a year.

Krishna M, Bangalore

27th May 2015

Comment

Phase 1 delivery is expected around May 2015 and Phase 2 delivery is expected around Dec 2017. You can also talk with the builder about the same.

Nakul Sachdev, Bangalore

27th May 2015

Hi Nakul, You said the project will get completed by May 2015 but still the work is going on. Can you update me with the possession of the project and price details?

Govinda,

8th December 2015

They are planning to give the possession for Phase I by this year end and the price of apartment starts in this project starts from Rs 78 lakhs on wards.

Nakul Sachdev, Bangalore

8th December 2015

Is there a delay in the delay in the possession, I could see in some of the website that the possession of the project is by March 2016? Any update about the present status?

Abhimanyu Khan, Bangalore

31st March 2016

Vikalp Kumar, Apartment Resident

1st August 2017

I really liked the project and thinking of investment. What all amenities the project is offering?

Janak Desai, Bangalore

20th April 2015

Comment

The project is offering all unique amenities like Swimming pool with Jacuzzi, Telemedicine, 3 Banquet Halls, Beautifully landscaped Gardens, Home Concierge, Gaming Zone, Paved Garden walk, Clubhouse and Roof top Terraces :) :D

Nakul Sachdev, Bangalore

20th April 2015

What is the current rate per sqft going on and what is the rental values going in Kanakpura Road?

Adnan, Bangalore

3rd November 2014

Comment

The average rent for a 1BHK apartment in Kanakapura is Rs 10,000 per month approximately. The rent ranges between Rs 8,000 to Rs 12,000 per month. For a 2BHK apartment the rent ranges between Rs 9,000 to Rs 25,000 per month. The average rent is approximately Rs 14,740 per month. In case of 3BHK apartment the rent ranges between Rs 12,000 to Rs 25,000 per month, while the average rent is approximately Rs 18,120 per month.

Partho Sen, Bangalore

3rd November 2014

The property price in Kanakpura for a 1BHK apartment ranges between Rs 3200 to Rs 4500 per sq. ft. while the average price per sq. ft. is approximately Rs 3849 per sq. ft. In case of a 2BHK apartment the average price is approximately Rs 4429 per sq. ft. while the price ranges from Rs 2460 to Rs 6800. A 3BHK apartments sale price ranges from Rs 3100 to Rs 7440 per sq. ft. the average price is approximately Rs 4990 per sq. ft.

Nakul Sachdev, Bangalore

3rd November 2014

Hi all,
This project has excellent connectivity to Bannerghatta road and Electronic City makes shuttling from home to work much easier. An analysis by Centre for Environment and Technology (CEPT) on the impact of Delhi Metro on real estate has found that property prices jumped significantly after the Metro began its operations.

Sachin bhatt, Bangalore

7th July 2014

Comment

Hi sachin,
I was having 3 options in my mind. Mantri Serenity, Mantri Webcity and Nitesh British Columbia. Factors i have into consideration would be location as i prefer more residential areas to office area. I would like to live in this apartment 3-4 years down the line. Second would be appreciation and it seems Mantri webcity would appreciate faster so correct me if i am wrong. Serenity for me seems slightly on the higher side so i am not so biased towards it. What do you think? Will serenity be a good ROI? Can you also give me some info about Nitesh BC.

Tejesh Kumar, Bangalore

7th July 2014

@Tajesh,
According to me ROI is almost same when you compare between Mantri Webcity & Serenity. I advise you not to compare Nitesh British Columbia with Mantri Serinity / Mantri Webcity as these two projects hold advantage in Location & Project Configuration. Besides, Considering your requirement I suggest you to go ahead with Mantri Webcity. It is good for both location and price.

Sachin bhatt, Bangalore

7th July 2014

Vikalp Kumar, Apartment Resident

1st August 2017

I am also investor in this, thinking that Mantri is good. No doubt Mantri was good in the begining projects. Good quality. Good response to the customer. Delivery in time. some times earlier than the scheduled time. But now it has gone to his head that the people have started liking his projects. Now he is taking advantage of his good name established. He is only enjoying his past glory. He does not seem to be interested in the projects performing good. He has started cheating on the schemes (commit Pre-EMI for 36 months and delay the project beyond 36 months), play down on the said specifications (use lower quality tiles), Play down on the common eminities. This is what happened in Mantri Tranquil and this is what happening in Mantri Serenity. Though the investment on Kananakapur Road is going to fetch to returns, it is not worth Mantri. Infact Mantri is not anywhere now days. He and his wife do not even want to meet the customers at any cost. They think they are too great.

Manohar Salimath , Apartment Resident

6th March 2014

Comment

Dear Mantri Serenity Investors, Is there a way to tackle this issue or we just have to go through whatever is happening? pl advice.

Raghavendra Aachar, Apartment Resident

4th March 2014

Comment

Vikalp Kumar, Apartment Resident

1st August 2017

Mantri Serenity project phase-2 start itself is delayed by one year now. Buyers have paid full payment upfront believing in pre-EMI holiday scheme. Delay will eat away the benefit of 36 months pre-EMI holiday to buyer. Mantri has received 95% of the total money already. Of the 95% money received, they pay around 10.5% interest to buyers for 75% of the money under pre-EMI holiday scheme and 20% of the down payment part came as interest free fund. There is huge delay by Mantri in paying pre-EMI interest month on month already.

Mantri has received money for a commercial project at RBI subsidized home loan interest rate of 10.5% while commercial borrowing interest is more than 18% and a personal loan interest itself is more than 15%. It is no secret why the project is getting delayed. Despite this huge cost advantage Mantri seems to stretch this beyond limit. Hope and wish better sense, trust, honesty, integrity and best business practice will prevail.

Kolappan S Siva, Apartment Resident

19th January 2014

Comment

Hi is there still a delay in payment of pre EMI

sunil, Apartment Resident, Bangalore

26th April 2014

I too have booked an apartment in Phase 2... and it's over an year and half since I booked and I dont see any progress in the ground work. Nothing seems to have started. I then opted to cancel my booking as offered by them in Mar 2014, but 6 months on I am still fighting with them to complete my cancellation process. On top of that the first 3 months of prompt EMI coming to our account has stopped and now, it's at there will they credit it to you. And very poor response to our calls and while they were behind us during the time of booking, I am fed up of following up with them to get my refund having paid all but 1L of my property cost.

Ashwin, Bangalore

13th October 2014

I too bought an apartment.. Now there is no pre-EMI and I am also struggling to return the flat with assured return policy. There is no way to contact anybody in the project to know about the status. Anybody in the same condition please reply if you have any solution

sreedevi s, Apartment Resident

29th August 2018

I have also booked the phase 2 apartment in 2013 and now paying the pre EMIs on my own. almost a yr now and Mantri has not payed the EMIs. we are cheated. we all need to file a case against this. Mantri needs to compensate us.

Rizwan, Mumbai

17th February 2019

Work at Mantri serentiy has completely come to a grinding halt. The first phase was supposed have delived by jan 2014. But the Developper M/s Mantri has sent a letter that the project is getting delayed by one year that is the possession is expected to be in feb 2015. The contractor has stopped working.

Manohar Salimath , Apartment Resident

26th December 2013

Comment

Hello Mr.Janak, As per the current trend if you are looking for high returns for Investment then as per the property experts its north Bangalore that too Jakkur and Yelahanka which is going to be one of the appreciating areas due to its fast development If you want more information please call back 9483427861/email rapidrealtyindia@asia.com

19th December 2013

Comment

Kanakapura Road has great connectivity to Electronic City, Hosur and Sarjapur. Apart from these, the place also has a close proximity to Jayanagar and JP Nagar. BMTC bus services are there. In future, the connectivity will improve with Metro in place.

All I can say that the traffic volume on this road is less compared to the adjacent Mysore Road.

Vaibhav Bhatnagar, Bangalore

16th December 2013

Comment

How is Kanakpura road for investment purpose? How is the connectivity from Kanakapura road to other places in the city? How is the traffic in Kanakapura road?

Janak Desai, Bangalore

16th December 2013

Comment

The place once known as a village, witness a sudden growth in the real estate with tall multi-storey apartments, and exclusive enclaves in the middle of narrow lanes. Kanakapura Road will be a better option and you can also expect future appreciation in this area as the area is surrounded by many educationally institutions and the connectivity is also very good. Kanakapura road has become a prime hub for real estate development since last 2-3 years. The residential real estate activity along Kanakapura Road is expected to rapidly expand with the arrival of Metro Rail network.

Partho Sen, Bangalore

16th December 2013

Is it worth investing in this project as they are going to give the possession by 2016 which is very long time?

Janak Desai, Bangalore

16th December 2013

Comment

Hey Janak, Yes it is worth investing or buying a property in this project because it is a project by Mantri Developers and they are known for their quality construction. Location is good and surrounding development will give you a very good returns.

Priyaranjan Bhatt, Bangalore

16th December 2013

i think it will take some more time as they have not yet launched 3 blocks. Phase I ( Block 2) will be ready by February 2015 and Phase II ( Block 4 and 5) will be ready by October 2016.

Adnan, Bangalore

16th December 2013

The price per sqft going on in Phase I ( Block 2) is Rs 5990 and Phase II ( Block 4 and 5) is Rs 5290

Adnan, Bangalore

16th December 2013

Comment