There is life in our townships

Nirman Shelters Bangalore Pvt. Ltd., a well known real estate developer in Bangalore, specialises in constructing private residential townships on the periphery of Bangalore. The founder and managing director of Nirman Shelters, V Lakshminarayan speaks to Vyas Sivanand about the company, the unique features of the townships and his plans for the future.Bangalore has witnessed a spurt in real estate development with the entry of several players and their numerous projects. How different is Nirman Shelters’ projects? Today, Nirman Shelters has grown beyond expectations. We have made affordable residential layouts, apartments, and independent houses targeting the middle class. We are offering ready-to-occupy two and three-bedroom residential villas for Rs 35 lakhs to Rs 70 lakhs. As for apartments,  we are offering two and three-bedroom units with extra facilities such as a swimming pool and a club house for about Rs 33 lakhs to Rs 45 lakhs. In the city, a 30ftx40ft plot costs nothing less thanRs 75 lakhs to Rs 1.5 crores. In vacant plots, we are creating townships that offer all infrastructure facilities like electricity, water, security, roads, sanitation, playgrounds, temples, prayer halls, swimming pool  and shopping complex. Indoor and outdoor stadiums are made available.How have you ensured proper maintenance of the layouts?The Apartment Owners’ Association maintains the apartments. In layouts, we have created a trust called NIPMAT (Nirman Properties Maintenance Trust) to manage the maintenance. It comprises elected members from among the site owners.Other than offering infrastructure facilities, what other initiatives have been taken up? We have a Nirman Temple Trust to take care of the five temples in the layouts. To organise cultural programmes,  we have created a foundation —Purandara Prathishtana. For any requirement from the government, we have formed an association called Niswarth Residents’ Welfare Association. By doing so, residents can enjoy a good life in the townships. We created them without a business motive, but while doing so, business is also improving. We also have old age homes in the layouts.What are your future plans?  I am thinking of going public within three-four years. We want to open an education institute. We have reserved two acres of land for this purpose and are even willing to offer the land at 50 percent of the prevailing market rate.