Daijiworld Media Network - Business (MS)

Mangaluru, Nov 6: With skyrocketing price of land in Mangaluru, finding affordable housing is the biggest challenge facing middle and lower middle income groups today. A house complete in all respects – such as, having good location, quality construction and excellent facilities – often comes with a price tag that is beyond the reach of most people. As majority of the builders are focussed on promoting high-end projects for the premium segment of the market, middle income groups have very few choices available to them in the market.

This is a void that Mangaluru-based Apoorva Builders have very effectively filled. Founded in the year 1995 by Ganesh Shetty, a young entrepreneur having an engineering background, Apoorva Builders has so far promoted 20 residential complexes, out of which 18 are already completed. Two projects are under construction. Its business model is based on the idea of meeting the housing needs of middle and lower middle income groups, who are their main target buyers.

Creating Desirable Homes

Interestingly, all its project names begin with the first alphabet 'A', indicating an aspiration to stand first on key parameters like construction quality and lifestyle experience. The completed projects include Apoorva, Abishek, Amoolya, Asheesh, Ashlesh, Abhinav, Amritha, Advaith, Abhiram, Archana, Ashwini, Anantha, Apeksha, Anannya, Aniketh, Akshara, Agastya and Akshata. These projects are today a hub of happy community living.

Anoosha Residency and Ashiyan Homes, its two projects which are presently under construction are situated at Kadri and Lower Car Street respectively.

The main attraction for Apoorva's prospective customers is desirable location. All of Apoorva's completed projects as well as the upcoming ones are situated within a distance of 2 km of Hampankatta, which is the heart of Mangaluru city. Their completed projects are in places like Kodialguttu, Kadri, Carstreet and Alake, which are close to renowned educational institutions like Expert, Besant, Canara and St Aloysius. Apart from proximity to educational institutions, these areas are within easy reach of the essentials of life, like market and shopping centres, places of worship, healthcare and public transport.

Price Advantage

Affordability provided by Apoorva Builders makes the middle class dream of owning a home in these localities a reality. The specialty of this group is that they are offering their flats to customers in the heart of the city at the same rate at which their competitors are offering for flats that are built in places like Surathkal and Deralakatte, which are quite far from the city of Mangaluru.

At a time when the running commercial rate of built-up residential space in the prime localities of Mangaluru hovers in the range of Rs 5000 to 6000 per square feet, 'Apoorva' maintains its ethical pricing and loyalty to its customers by offering quality living space at less than Rs 4500 per square feet at prime locations which are close by to the city centre. Considering that the rates in these locations have gone up tenfold from the selling price of Rs 450 per square feet 20 years ago, Apoorva's projects are also a lucrative investment choice for prospective buyers.

Understanding Customer Needs

Accurately understanding the needs of the middle class has been the key to Apoorva's success over the years. Even from its initial days in 1995, Apoorva Builders started out by offering 1 BHK flats, which has made them pioneers in this segment in Mangaluru. Planning and promoting single bedroom flats is a uniquely challenging business proposition which Apoorva Builders has mastered. Their foresight in venturing into this segment and developing expertise in constructing highly liveable 1 BHK flats, which feel like much larger homes, has made them into a household brand in the market.

This has also placed Apoorva Builders in position of strength in the present slow moving market where the demand is predominantly for apartments which cost below Rs 40 lac. This is due to the subsidy plans of the central government and also the recession in the market. “Understanding the customer's needs and creating a project which are designed to fulfil market realities has enabled us to win the confidence of customers over the last 22 years of our existence,” say's Ganesh Shetty, the promoter of Apoorva Builders.

Growth with Stability

Apoorva's latest project to be completed is 'Akshata Palace'. This project, which is situated at Car Street (near New Chithra Talkies) was completed earlier this year and the homes have been given to the buyers for possession. Two more projects are presently being built at lower Car Street and Kadri-Mallikatte respectively. Both these projects feature medium-sized flats, which are being offered at very reasonable prices and these homes are also eligible for special benefits under the present subsidy plan of the central government.

Having ventured into the field way back in 1995, when the market was less crowded, Apoorva Builders are today a well established real estate enterprise enjoying a solid customer base. Their practical approach, effective and efficient style of operations and ethical business practices have enabled them to register steady growth in the face stiff competition. All the projects of Apoorva are being built by their own in house construction division. As they handle all the aspects of building the residential complex right from selection of land, building plan and execution themselves, they are able to give quality product to their customers.

New Projects on the Anvil

Apoorva Builders is now coming up with a mega project in low cost housing. This new project, which will be coming up in near future in the vicinity of Fisheries College, will consist of four blocks of 50 houses each. These flats will be available at an unimaginable price in the range of Rs 10 to 20 lac including car parking. 3 BHK houses in this project will be available for just Rs 20 lac including car parking.

The firm plans to unveil its mega project 'Apoorva 25' on the festival of Deepavali in 2020 to mark its silver jubilee.

Contact:

Apoorva Builders
Ground floor, Asheesh apartments,
1st cross, Kodialguttu east road,
Mangaluru - 575003
Landline: 0824 - 2492417, 0824 - 2493417
Mobile: +91 9845084407, 8050084407
Email: info@apoorvabuilders.com
Website: www.apoorvabuilders.com