Mantri Alpyne

[Raghav_blore]

Hello, Planning to book a flat in Mantri Alpyne, Uttarahalli main road (towards kengeri before Nice road), Banglaore. They have nearly 1200 flats in around 10 acres of land. They say that they have approaval from BMIC and NoC from BDA. There are many banks who are providing loans for the same project. Can I expect some answers for my below questions please?
1. Is BMIC approval enough?
2. 1200 flats in the area of 10 acres - would it be crowdy? They say 80% open area.
3. it costs around 48 - 52Lakhs (all inclusive except registration) for a 3 bhk (1255 sqft carpet area). Is it worth?

PS- location looks pretty good and not very far from Uttarahalli, good approach road!

THanks for your inputs.
Raghu

[jag_bda]

Any updates on this? Even I am considering this - how far would this be from Metro?

[Raghav_blore]

Just curious to know if there is anyone who planned or still planning to buy Mantri Alpyne?
Any further details would be highly appreciated...

[rewatcher]

1. Is BMIC approval enough?
The approval authority will be either BDA,BBMP,BMIC,BMRDA or BIAPA depending on the location of the project. The land where this project is coming up probably falls into BMIC jurisdiction and that is why I guess they have their approval. I don't think there will be any overlap in terms of approval authorities.

2. 1200 flats in the area of 10 acres - would it be crowdy? They say 80% open area.
It depends on hoe many floors they go and how many apartments are going to be there in each floor. It is not uncommon to have 1000 plus apartments in a 10 acre land parcel in Bangalore. Layout plan from the builder should give you some pointers as to whether 80% of the 10 acres is really going to be open area.

3. it costs around 48 - 52Lakhs (all inclusive except registration) for a 3 bhk (1255 sqft carpet area). Is it worth?
The running rates for land around this project is around 3500 per sqft. I cannot comment as to whether it is worth to pay 52 lakhs for a 1255 sqft apartment in this area, you will have to survey many other apartment projects to get an idea whether it is worth.

Regarding the metro station - the nearest metro station (in the phase 1 of metro) is at Nayandahally on Mysore road which is around 6-7 kms from this place. I think the JP Nagar metro station also could be around the same distance. Hope this helps.

[bengaluriga]

One can get a good BDA site (BSK 6th stage, near to Mantri Alpyne) for about 2000/- per sft.

Mantri Alpyne area = 10acre * 43560sqft per acre = 435600 sqft.
The price for non BDA, 10 acres would definitely be less then 1500/- per sqft

Total land cost = 435600 * 1500 = 653400000 (assuming a very high 1500/- per sqft price)

Avg land cost per apartment = 653400000 /1200 apartments = 544500

For an apartment of 50 lakhs one would be paying less than 5 lakhs on land share and 45 lakhs for the concrete structure whose value surely depreciates to zero in another 15 years.

I stay in an old apartment in JP Nagar whose market price is 1/2 that of its land share price. For Mantri Alpyne the market price is 9 times that of its land share ....

[keshavachandras]

One can get a good BDA site (BSK 6th stage, near to Mantri Alpyne) for about 2000/- per sft. ....

Are you sure BSK6th stage block 1,2,3 near manthri Alpine? Please let me know of any site in that price range, all the rates i have received for BSK 6th stage 1,2,3 rd block is ranging between 3100-3400.

[Raghav_blore]

Thank you all for your comments and very sorry for NOT reverting on this thread!
Just to keep you posted, the construction progress is in full swing (and prices as well!).. And we feel that it is worth the investment

[shailem]

Did some one book here of late ?
I am planning to buy a 2 BHK in Mantri Alpyne and they are quoting 3690/- psqft
I have some query.
Please write to i am shailesh AT y m a i l DOT c o m

[vrushali]

Hi All,
We have already booked 1255 3 BHK flat in mantri alypne in Aug 2011.
we are very happy with the progress and feel its worth an investment.

[mybdaprop]

Is Mantri Alpye worth for paying 54 Lakhs for 1255 sf ft 3bhk , lets check it out..

Building Construction Cost for : 1255 sf ft is 13 Lakhs ( one lakh per 100 sf ft, as you have shared floor and celing)

Cost of Undivided Land share : 300 sf ft x 3500 ( top most price of land in BSK 5th stage is Rs 3500 per sf ft).. = 10.5 Lakhs...

Miscellenous Cost : 5 Lakhs...
==============================================================
Total Cost == 28.5 Lakhs....for 1255 3bhk apartment....
===============================================================

Assume if you decide to buy land of 30 x 40 in BSK 5th stage and build 1255 sf ft home... the cost will be...

Construction Cost: 1255 sf ft 16.8 Lakhs [ Cost of construction on land is 1.4 Lakhs per 100 sf ft]

Cost of 30 40 site= 1200 x Rs 3500 = 42 Lakhs....

Miscellenous = 3 Lakhs
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Total Cost for independent house = 62 Lakhs.......
====================================================================

Ususally Apartment cost in an Area should be always less than 60% cost of building independent house in same area...

So Mantri Alpyne is worth 37 LAkhs for 1255 3bhk.... rest of the money you are wasting....and paying only for brand...