Wednesday, March 21, 2012

PropCare: An informed opinion

(The post,copy-pasted from CommonFloor, represents informed opinion of someone who has been with Mantri's. I have taken the liberty to reproduce Mr Shankar Naganathan's post - without his permission - in the wider community interest).
I thought it was appropriate of me to intervene at this juncture and share a few thoughts having been an insider and now representing 12 flats in Synergy.
A ten-lakh complex like Synergy with multi-faceted facilities (such as WTP,STP,DG, Gym, Parlour, Sauna and Play areas) has its own complicity and needs certain skills in managing it, which as new residents we do not possess.
Mantri Propcare, notwithstanding the fact that it is a profit-making venture, have the learning curve behind them having managed several such complexes for several years. Besides, they have a stake in running the place smoothly being their first venture in Chennai.
It will be more prudent of us to negotiate maintenance contract for 2 years until March 2014, absorb the intricacies of the estate management and then see what serves our interest best in March '14, instead of jumping the guns now. We as residents have very little knowledge of the development which by itself has not reached a steady state.
Major Sreekumar who manages Mantri's propcare business has managed many complex tasks with military precision and is a man of reason. The project will be good in his hands (even if it comes at a little higher prices) till it stabilises in a couple of years' time. In my own opinion, Rs. 2 per sft per month (excluding water and DG charges for non-common areas) would be a reasonable rate for a complex of our type.
As a caveat I would like to add that this is my personal view having been in this business and I have no association with Mantri!
Shankar Naganathan
Cell: 0091 94 4507 0973
My thought: We could do with Mr Naganathan's participation in the to-be elected management committee.

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