| Industry | Real estate |
|---|---|
| Founded | 1999 |
| Founder | Sushil Mantri |
| Headquarters | Bengaluru, India |
Area served | India |
Key people | Sushil Mantri ( Chairman) and ( Managing Director) |
| Website |
www |
Mantri Developers Pvt. Ltd. is a real estate company in India which has developed properties in Indian cities such as Bengaluru, Chennai, Hyderabad and Pune. Its constructions are used for residential, commercial, retail, hospitality, office, senior-living and educational purposes.
As of February 2021, a number of their projects remain indefinitely delayed, due to financial woes. [1] Many buyers have been left in limbo waiting for their homes. It has completed 23 projects covering 10 million square feet of constructed area and has an equal amount of area under various stages of construction.
Mantri received CII-ITC Sustainability Award 2012, by the President of India, Shri Pranab Mukherjee. [2]
Founder
Sushil Mantri is Mantri's founder, chairman and managing director. He is also vice president of CREDAI, a body for private real estate developers in India. [3]
Key projects
Mantri Altius located near M Chinnaswamy Stadium. [4] [5]
Mantri Espana, situated in Marathalli, Bangalore. [6]
Mantri DSK Pinnacle: Mantri Developers in association with DSK are developing South India's tallest residential tower in Bangalore. [7] They have also developed and promoted Mantri Square, one of India's largest shopping mall, with a bowling alley, a cinema theatre and food court. [8]
Mantri Webcity: A multi-tower gated-community project on the Bangalore-Hennur road, divided into 3 blocks or 'parcels'. Although partially occupied, construction was not completed on time, with hundreds of buyers waiting for their apartments since 2013, some of them going into bankruptcy and a large majority pursuing court cases. [9] The delay caused widespread protests [10] [11] [12] and a temporary travel ban for General Manager Snehal Mantri. [13]
References
- ^ "Housing Project Delays in Bengaluru". The News Minute. Retrieved 21 February 2021.
- ^ "Sustainability Award". Business Standard. Retrieved 28 January 2013.
- ^ Akhtar, Nadeem. "Sushil Mantri, CMD, Mantri Developers Pvt. Ltd". Retrieved 4 April 2018.
- ^ "Mantri Altius". The Hindu. 9 October 2005. Archived from the original on 29 September 2009. Retrieved 9 October 2005.
- ^ "Lose your nosy neighbours - Mantri Altius, on Raj Bhavan Road". businesstoday.intoday.in/. businesstoday. 16 October 2007. Retrieved 6 August 2014.
- ^ "Mantri Espana, CEO". The Economic Times.
- ^ "Mantri Pinnacle-Ultra luxurious and tallest residential tower in South India". Economictimes. economictimes.indiatimes.com/. 8 August 2012. Retrieved 6 August 2014.
- ^ "Bangalore's largest mall, Mantri Square". The Hindu. thehindu.com. 15 March 2010. Retrieved 6 August 2014.
- ^ "Mantri Developers booked for cheating". The Hindu. Retrieved 30 May 2020.
- ^ "Webcity buyers protest". The New Indian Express. Retrieved 30 May 2020.
- ^ "Mantri Developers accused of cheating home buyers". Deccan Herald. Retrieved 30 May 2020.
- ^ "Developers' promise to buyers falls flat". Bangalore Mirror. Retrieved 30 May 2020.
- ^ "Builder Mantri's wife stopped from flying to Singapore". Deccan Herald. Retrieved 30 May 2020.
Further reading
- "Mantri Developers booked for cheating". The Hindu. 29 July 2019.
- "Several Bengaluru home buyers left in the lurch after delay in Mantri project". The News Minute. 29 March 2019.