Media Release
“In every year of my 33 years of building experience, I’ve learnt the truth that concrete gives a structure its strength but integrity gives it a future.”
Mangaluru, Jan 19: An exclusive conversation with Prashanth K Sanil, managing director, Nidhi Land Infrastructure Developers India (P) Ltd, incorporated in the year 2012, giving first hand insights into his voyage in the Mangaluru’s eco system, policy challenges and future potential.
Prashanth K Sanil
1) Given your decades plus history in this real estate industry, can you throw light on how it all began and your experiences, so far?
"It's a pleasure to be here. My journey in real estate began over 33 years ago with a simple, yet powerful vision: to create not just buildings, but communities where people could truly thrive.
The inspiration was quite personal. I saw a need in the market for quality housing that didn't compromise on integrity or design. We started small, with a dedicated team and a strong belief that everyone deserves a well-built home. The early days were a hustle—navigating regulations, securing financing, and personally overseeing every detail of our first few projects. That hands-on approach from the beginning instilled in us a commitment to quality that remains the bedrock of our company culture today.
Over the last decade, we've seen significant shifts in the industry, from evolving architectural trends to the integration of sustainable technologies. Our philosophy today is that building trust is just as important as building structures. We pride ourselves on transparent communication, exceptional craftsmanship, and a genuine commitment to customer satisfaction. As we look ahead, we remain dedicated to sustainable growth and creating spaces that enhance quality of life. It's been a fulfilling journey, and I'm excited about the future of this industry and our role in shaping it."
2) Considering your projects are focussed mainly on the residential, how has business evolved in the past decade in this region? Has supply really surpassed demand?
"The past decade has been transformative for the real estate sector in our region. We've witnessed significant evolution driven by several key factors: increased urbanization, shifting consumer preferences towards more integrated, amenity-rich communities, and the rapid adoption of new construction technologies and sustainable building practices. The business model has shifted from purely transactional to being more focused on creating a lifestyle experience for homeowners."
"No, we don't believe supply has uniformly surpassed demand across all segments. While the market has seen phases of oversupply in certain specific micro-markets or property types, genuine, quality demand for well-located, well-designed residential row projects remains healthy.
3) All his projects are dear to a builder, in this context, what are the number of projects Nidhi Land Infrastructure Developers India (P) Ltd., has completed so far and how many are in the pipeline? Which project is near to your heart? Which one is nearing completion and ready for possession?
Nidhi Land Infrastructure Developers India (P) Ltd has completed approximately 11 projects and currently has multiple projects in the pipeline/ongoing construction.
• Completed Projects: We have delivered around 11 projects, including notable ones like New Berry Enclave, Green Fortune, Willows, Vrindavan, Jardin, Saathvik, Safal Homes, Rosary Cottage, Sharon Rose, Sudham Residences and Sankalp Residences.
• Projects in the Pipeline (Ongoing/Upcoming): There are several projects currently under construction or in the pipeline, such as Shakthi Heights, Smrithi Heights, White Rose, Castle Green, Poorvaj, Sky Garden and Business Bay.
Completed projects:
Green Fortune
Jardin
Newberry Enclave
Rosary Cottage
SAFAL HOMES
SANKALP
Sathvik
SHARON ROSE
SUDHAM
Vrindavan
Willows
Ongoing project:
Castle Green
Poorvaj
Shakthi Heights
Sky Garden
Smrithi Heights
White Rose
"Near to the Heart": While all projects are cherished, New Berry Enclave is very close to my heart since it is my first project and my present office is also stationed in this building. Also, you could highlight the unique aspects of a current premium project like Nidhi Land Poorvaj Urban Villas, an ultra-premium 4BHK one-per-floor villa project, for its focus on elegance and thoughtful design, or 31 storey high-rise Sky Garden Super Luxy Apartments building at Lady Hill-Chilimbi Road for its blend of urban living and natural surroundings.
4) What according to you is a ‘Stand Out’ or ‘Signature’ feature of all your projects?
A `Stand Out’ or ‘Signature’ feature of my projects is often rooted in unique and innovative design, commitment to sustainability, integration of smart home technology and the creation of holistic community amenities.
5) How would you analyse the demand trends in Mangaluru? Is it always a decision for the consumer to make between affordable and premium housing? In this context: Have you seen growth or slow-down in your new project launches in the last 2 - 3 years?
At the outset, according to me, our city of pride, ‘Mangaluru’ is nothing less than an international city, a cradle for banking sector per se with its beautiful coastal canvas designed to attract tourism.
"The real estate market in Mangaluru exhibits unique demand drivers, primarily influenced by the city's role as an educational, banking and healthcare hub, an emerging IT destination, coastal tourism hub and a significant port. Demand has traditionally been steady, with a strong preference from the non-resident Indian (NRI) community and local professionals for quality housing in well-connected areas.
Regarding the choice between affordable and premium housing, it is not always a strict two decision for consumers. While 'affordable' housing caters to first-time homebuyers and younger families seeking value, 'premium' housing serves a segment looking for enhanced amenities, better locations, and a higher quality of life.
In the last 2-3 years, we have generally observed a growth in our new project launches. Despite initial pandemic-related challenges, the market has bounced back with resilience. This growth is largely driven by factors such as:
• Current moderate housing loan interest rates pushing buyers towards making a decision.
• A growing preference for larger homes with better amenities (like home offices and balconies) post-pandemic
• Continued infrastructure development in and around Mangaluru
We are cautiously optimistic about the continued stability and growth of the Mangaluru market, catering to both the evolving affordable and premium segments."
6) Do economic upheavals, inflation, interest rates, employment etc., have an impact on property demand according to you? If so, how much?
Yes, economic factors significantly impact property demand. The correlation and impact level are high, as these elements directly influence affordability, investment potential, and market confidence.
• Economic Upturns/Employment: Strong economic growth and high employment rates typically boost property demand. Increased job security and higher incomes make people more likely to purchase homes or invest in real estate, leading to rising property values.
• Inflation: Moderate inflation can encourage property investment as real estate is often seen as a hedge against inflation. However, high inflation often leads to central banks raising interest rates to control it.
• Interest Rates: Interest rates are a critical determinant. Higher interest rates increase borrowing costs (mortgage payments), reducing affordability and cooling demand. Conversely, low interest rates stimulate demand by making mortgages cheaper and more accessible.
In essence, these factors create a cyclical market: a robust economy with low interest rates fuels high demand, while a weak economy with high interest rates suppresses it. The degree of impact can be substantial, often determining the difference between a buyer's and a seller's market.
7) Which specific suburbs or areas in Mangaluru are gaining popularity for residential demand & why? As an extension which factors drive property demand here?
In Mangaluru, areas such as Kadri, Bejai, Mannagudda, Kulshekar and Ashoknagar are gaining significant popularity for residential demand. These areas are attractive due to a balance of urban amenities, good connectivity, and a high quality of life, driven by robust infrastructure development and a growing economy.
The demand for property in these areas and Mangaluru in general, is driven by several key factors like Infrastructure Development, Education and Healthcare Hub, Economic Growth, High Quality of Life, NRI Investment, Gated Communities and Modern Amenities.
8) In a nutshell, how would you sum up the challenges faced by builders here, right from land acquisition to approvals and execution?
Builders in Mangaluru face significant challenges right from Land Acquisition & Legal Issues, Regulatory Complexity, Statutory Approvals, Construction & Supply Chain Issues, Cash Flow Management and Project Management & Quality Control.
These are part and parcel of a construction journey and we have surpassed them till date with grit, integrity and determination.
9) Does cost and availability of skilled labour affect your operations?
Yes, the cost and availability of skilled labour significantly impact real estate operations.
• Impact on Costs: A shortage of skilled trades (carpenters, electricians, plumbers, etc.) increases labour costs, which directly impacts the project's overall budget and profitability.
• Impact on Timeline: Scarcity of labour can lead to project delays, affecting construction schedules and potentially postponing completion dates.
• Impact on Quality: In a tight labour market, builders might be forced to hire less experienced workers, which can lead to quality control issues if not properly managed.
• Operational Adaptations: We are adapting strategies to mitigate these issues, such as investing more in training programs, improving retention efforts, or exploring prefabrication techniques to reduce on-site labour needs.
10) What is your expectation from the state government to support real estate growth? How can local authorities help?
Our expectations from state and local governments for industry growth can be summarized into several key areas:
The state government can foster real estate growth through a combination of policy reforms and infrastructure development:
• Single-Window Clearance System: Builders need a streamlined, time-bound approval process to reduce delays and compliance costs. A genuine single-window clearance system would enhance predictability and efficiency in project delivery.
• Rationalization of Taxes and Duties: The government could reduce stamp duty and rationalise other local taxes and premiums to make housing more affordable and stimulate demand.
• Infrastructure Development: Investment in physical infrastructure (roads, public transport, utilities, sanitation) is crucial. Improved connectivity to Tier 2 and Tier 3 cities can unlock new growth corridors and attract private investment.
• Land Reforms: Policy interventions that ensure the availability of land for development at reasonable costs are essential. This could involve simplifying land acquisition laws and ensuring clear land titles.
• Incentives for Affordable Housing: Continued fiscal incentives, such as interest subvention schemes or tax breaks, can encourage development in the affordable housing segment, addressing a critical need in the market.
Local authorities play a vital role in the implementation phase and can help by:
• Efficient Plan Approvals: Ensuring that building plans are approved quickly and transparently, adhering to the timelines set by state-level mandates.
• Ensuring Basic Amenities: Providing reliable access to essential services like water supply, sewage systems, and electricity connections for new developments.
• Transparent Land Use Policies: Providing clarity and consistency in zoning regulations and land use policies to facilitate easier planning and development.
11) Can you throw light on any innovative construction method you are adopting at present?
We have planned to use modular construction. Key benefits to emphasize include:
• Faster construction times: Off-site manufacturing occurs concurrently with site preparation, reducing overall project schedules.
• Improved quality control: Factory settings minimize weather-related issues and allow for rigorous quality checks, leading to fewer defects.
• Reduced waste: Optimised material usage at respective project sites helps minimise construction waste.
12) Are green building practices important in your project? Would incentives encourage their adoption? Do environmental issues pose challenges to projects in Mangaluru?
Yes, green building practices are a priority, and their adoption could be significantly accelerated by government incentives. Environmental issues, while present, are manageable through careful planning and adherence to regulations.
Green building practices are important for several reasons:
• Sustainability & Responsibility: They reduce the project's environmental footprint, conserve natural resources, and address growing concerns about climate change.
• Long-term Value: Sustainable features like energy-efficient lighting, water recycling, and quality materials can lead to lower operational costs for occupants and increase the building's market value over time.
• Market Demand: There is a growing demand from buyers and tenants for healthier, more sustainable living and working spaces.
Environmental Challenges in Mangaluru:
Environmental issues in a coastal city like Mangaluru do present unique challenges, but they are manageable:
• Coastal Regulations: Proximity to the coast necessitates strict adherence to Coastal Regulation Zone (CRZ) rules, which can affect design and construction processes.
• Resource Management: Ensuring sustainable water sources and managing wastewater in an environmentally sensitive area requires careful planning and investment in appropriate infrastructure.
• Balancing Development & Ecology: The primary challenge is balancing the region's development needs with the preservation of its delicate ecosystem. By engaging in thoughtful urban planning and leveraging modern green technologies, these challenges can be navigated successfully.
13) List 3 regulatory challenges you encounter?
As a real estate builder, the primary regulatory challenges encountered often revolve around the complexity, variability, and time-consuming nature of compliance processes. The three main challenges are Zoning and Land Use Approvals, Environmental Regulations & Permitting and Building Codes and Safety Standards.
14) How do you foresee the potential in this building and real estate industry in Mangaluru in the next 5 to 10 years?
The next 5 to 10 years, the real estate industry in Mangaluru is poised for significant and steady growth, driven primarily by large-scale infrastructure projects, the city's status as an educational and healthcare hub, and increased investment from NRIs and the IT and in tourism sectors.
"We are incredibly optimistic about the real estate potential in Mangaluru in the next 5 to 10 years. We foresee a phase of sustained appreciation and development, transforming the city into one of the most dynamic real estate markets in South India. Further, once the approval and the implementation of ‘Mangala Corniche’, the so-called Ring Road project gains steam, the neglected areas which lack accessibility will come to the fore providing ample potential for builders for the development of the city in a holistic and scientific manner.
The potential is underpinned by several key factors like Robust Infrastructure Development, Growing Economic and Employment Hub, NRI Investment and Premium Living and Quality of Life and Sustainable Practices.
In essence, Mangaluru's real estate market is maturing rapidly. We anticipate steady appreciation and strong returns, making it an opportune time for both homebuyers and investors to be part of the city's growth story.
15) At the end, what message would you like to give in earnest to your prospective customers?
My message to our prospective customers is one of partnership and trust. We are committed to building homes and communities that not only meet your needs but exceed your expectations in quality, sustainability and value. Our earnest pledge is to guide you transparently through the home-buying journey and to deliver a home where memories are made and futures are built. To sum up ‘when you build with responsibility, your work outlasts both time and headlines’.
TESTIMONIALS:
Vaishali J Uchil: Sankalp Residences
• It was my dream to own a house but was very scared learning about harrowing experiences of many others, but you all made it so easy for me. I have seen others struggling with builders but your team i.e., Nidhi Team is the BEST. The way you all stood behind me till the end was so heartwarming. I will always be grateful to the team. Thank you so much.
Ganesh Shetty, general manager - Customer Care International Business, Tata Motors: New Berry Enclave
• “Prashanth Sanil brought forward beautiful design ideas for our consideration and executed it all in a perfect manner. His service was prompt, courteous, and thorough. Dealing with Prashanth gives inexpressible comfort of feeling safe. My stay at New Berry Enclave is more comfortable than envisaged.
Preetham Chowta, senior application evaluation specialist Drill Bits & Services: New Berry Enclave
• Pleased with Prashanth Sanil and his team with their service, quality, professionalism and trustworthiness. I have no hesitation in recommending Nidhi Infrastructures to anyone who is willing to buy a home in Mangaluru, and I wish them all the success in their future projects.
Parineeth Rau - chartered accountant, Vrindavan
• Integrity and Commitment are hallmarks of Nidhi Land. My quest for an apartment in the Mannagudda area led me to Nidhi Land Vrindavan Apartments. It was heartening to see an apartment that definitely had given a lot of consideration to many factors which would enhance the living experience of the residents. From our experience, Nidhi Land functions with a strong sense of integrity towards its customers and backs it with the necessary commitment. As a customer, there is hardly anything more than one can expect from someone who is in charge of making your home. A big thanks to Prashanth Sanil and the team at Nidhi Land. Wish you many more successes on your way to helping people find their dream homes.
Claudius Francis Lasrado & Elizabeth Lasrado, Mumbai, Vrindavan
• Our experience with Nidhi Land was outstanding. The staff is a reflection of the boss Prashanth Sanil who is transparent and professional. The amenities provided are top class. So was the attention to detail. Sanil’s personal involvement is greatly appreciated. Two Thumbs up.
Vikram Amin, Bengaluru – Dubai, Saathvik Homes
• Nidhi Land Infrastructure Developers India (P) Ltd, is a very professional company. My first interaction with Prashanth Sanil in Dubai was very positive. He guided me through all the process and helped me in buying my own Apartment in Sathvik Homes at Matadakani Road, Mannagudda. All the best to Team Nidhi Land.
Helen Pinto & Martin Pinto, economist/chartered accountant, New Delhi – Willows Residences
• The workmanship of ‘Willows Residences’ has been truly exceptional, thanks to a dedicated and highly competent team. Their “always ready to help” attitude ensures every challenge is addressed with sincerity, expertise and a smile. It has been a pleasure to be associated with this company and we wish them continued success in all their future endeavours.
Contact:
Nidhi Land Infrastructure Developers India (P) Ltd
5th Floor New Berry Enclave, Bejai-Kapikad, Mangaluru – 575004
Email: sales@nidhiland.com
Webiste: https://nidhiland.com/
Ph: +91 95387 66999 & +91 7026566999