Realty Plus in conversation with MayankRuia, Founder & CEO of MAIA Estates LLP.Maia Estates, represents the luxury real estate sector that focuses on developing the highest quality real estate across various socio-economic segments of Bengaluru. Mayank was previously responsible for leading and developing Phoenix Mills’ residential assets in Bengaluru and Pune with popular projects such as One Bangalore West and Kessaku in Rajajinagar, Bengaluru.
The company also focuses on developing landmark projects across micro-markets and price points in Bengaluru by providing highly efficient, well planned and executed spaces for all its customers.
Brief about inception of MAIA Estates LLP.
Driven by the vision to develop world class residential and commercial spaces in Bengaluru, Mr. Mayank Ruia established MAIA Estates LLP in the summer of 2016 in partnership with Dr.RanjanPai, Mr. Mohandas Pai and Mr.Abhay Jain. MAIA is focused on inculcating professionalism, transparency, quality and timeliness in every aspect of the business.
Luxury real estate sector in current economic scenario.
The Luxury real estate sector has undoubtedly faced the maximum headwinds as a product category over the last cycle of residential real estate sales. This is a combination of too much stock in any single project and across several micro markets in aggregate. However, there is opportunity in luxury residential real estate when there is scarcity value in the product offered and also a value proposition both in terms of size and ticket size. Specifically in Bengaluru, this is due to their being significant demand between Rs. 1.5Cr and Rs. 4Cr. in certain micro markets.
What MAIA brings into the current real estate market.
MAIA strives hard to build itself on the pillars of meticulous planning, best-in-class partnerships, intensive and researched design, excellent quality, speed of execution, and most importantly the knowledge of providing a vital service to its customers through its work. MAIA wishes to represent the future of development in modern India with a team of young professionals, combined with years of relevant experience in the key areas of the business, such as construction.
Key milestones and growth plans of Maia Estates.
MAIA was established in the summer of 2016 and launched its first project, Pelican Grove in April 2018. With a team of 40+ professionals, MAIA intends to build approximately 1 million square feet of residential real estate in Bengaluru in the coming 2-3 years.
Maia Estates’ current and upcoming projects.
MAIA Estates’ first project, Pelican Grove, sits on an enchanted piece of land on the banks of the pristine Jakkurlake. Housing 36 apartments across 19 floors, the development ensures the unique combination of nature, luxury and proximity to work.MAIA will launch its next project(s) in approximately 6 to 9 months and intends to focus on North Bangalore and Central Bangalore.
