Mangaluru: ’ALLEGRO AUREUS’, the flagship residential project of Allegro Builders and Developers, one of the renowned real estate developers of Mangalore, has been awarded a Mangaluru-5 Star Rating by CRISIL Real Estate Star Ratings (CREST). “ALLEGRO AUREUS,” their ongoing residential project is an “Ode to Opulence”. “ALLEGRO AUREUS” is an ultra luxury residential project with 2/3/4 BHK options with a very modern and contemporary elevation. It comprises 35 upscale apartments on the prestigious Vas Lane in Falnir. The project also incorporates prudent features for rainwater harvesting, common solar lighting and solar water heating, better natural cooling and use of eco- friendly building materials with all modern amenities like A/c gym, roof top pool, lounge etc.
Addressing the media persons during a press meet held at Mangalore Press Club, D.B.Mehta, Chairman, Allegro Group said “Keeping in mind the interest of our clients we decided to get ALLEGRO AUREUS rated by CRISIL, being India’s No.1 Rating Agency. Our earlier project ARISTAA ENCLAVE in Pandeshwar was also accorded 5-Star Rating by CRISIL. They carried out an exhaustive exercise by visiting the ALLEGRO AUREUS site, Builders, Architects, Structural Engineers, Legal Consultants, Contractors, Offices to collect all the technical details about the project. For any prospective customer a 5 star rating by CRISIL ensures the project quality and the builder’s capacity to deliver as a mark of approval. We are extremely satisfied with the analysis on technical, financial and the legal aspects carried out by the execution team of CRISIL before according the 5 Star rating for ALLEGRO AUREUS“
Also speaking during the press meet, Ajay Anand,Regional Head,CRISIL Real Estate Ratings, India said“CREST is an independent, credible and comprehensive ratings service that seeks to help property buyers and developers benchmark and identify quality real estate projects in their respective cities. Our ratings provide a comprehensive evaluation of all critical project specific parameters. Today, we are pleased to announce the award of “Mangalore – 5 star rating” to ALLEGRO AUREUS.”
Ajay Anand further added, “There is a need for enhanced transparency in the real estate sector, which can be achieved through self-regulation by developers. The good news is that we are now seeing developers coming forth and embracing this concept by opening themselves up for third-party evaluation — a positive sign indicating dedication towards customer-centricity and professionalism.”
Star Ratings is based on an eight-point scale from ‘City 7-Star’, the highest, to ‘City 1-Star’, the lowest being ‘Non-Deliverable Project’. This rating is assigned on the basis of five key parameters, on which the project is evaluated. The parameters are:
– Sponsor quality: Developers’ track record, with focus on construction, financial strength and ability to complete the project.
– Legal documentation: Land title, sales agreement, other statutory approvals and clearances
– Financial quality: Viability of the project, developer’s financial strength, accounting quality
– Construction quality: Structural quality, project consultants track record, execution capability and after-sales services
– Innovation: project concept, process innovation, building design and construction technology
Launched in 2010 by CRISIL, India’s leading ratings firm, CREST is the undisputed leader in third-party property ratings in India and currently covers over 220 projects at various stages of development; across 40 cities.
About Allegro Builders & Developers :
Allegro Builders and Developers are reputed market leaders of Real Estate development in Mangalore, driven under the leadership of Mr.D.B.Mehta who has also served as erstwhile President of the Kanara Builders’ Association and presently President of CREDAI (Mangalore Chapter). The group has a proven record of accomplishments since their foray into the Mangalore realty sector and has been making a steady progress over the years by completing Apartments & Commercial Spaces with excellence for design, architecture, construction that ensures value for money.
Their commercial projects have become the Epicenter of Mangalore as their Maximus Commercial Complex houses the global Financial Institutions present in the city. They co-promoted CITY CENTRE MALL, the third largest mall in Karnataka, ushering Mangalore and its environs into global retailing and lifestyles. Their completed apartment complexes, ACROPOLIS “Meeting Ground of the Upper Crest”, ADELPHIA-“A Space for Grace” and ARISTAA ENCLAVE –“Art of Fine living” a luxurious residential complex are prominent city landmarks.
In keeping with this 21st century commitment, the group has diversified interests that also include Wind Power generation at different locations in the country.
For further information please contact :
Allegro Builders & Developers
UGII-5, Maximus Commercial Complex, Light House Hill, Mangaluru-575001
Phone: 0824-4250186 /4250187 Mob: 9972385189
