Luxury at affordable prices in India

T3Urban Developers Ltd was established in 2009 by V P Lobo to provide affordable housing in tier III cities. Since 2010, it has been developing residential and commercial projects in various cities, namely Mangalore, Shimoga, Hubli and Bellary in Karnataka.
It is also planning to develop projects in cities like Mumbai, Igatpuri, Boisar, Nanded, Nashik, Satara and Amaravati in Maharashtra, and Coimbatore, Hosur and Madurai in Tamil Nadu.
According to Lobo, the company develops luxury homes at affordable prices and works on thin profit margins. "We have adopted modern management techniques to ensure low costs. Just in time, zero inventory, lean organisation structure and highly motivated work force are the secrets of our ability to deliver quality products at affordable prices," says Lobo, Chairman and Managing Director.
Lobo has years of experience in the real estate space and worked with several developers in Karnataka, Maharashtra, Tamil Nadu and Andhra Pradesh.
He has also set up the T3 Hope Foundation, a registered charity trust to fund quality English medium education for children in rural areas. More than 100 poor children across India are being helped through this programme.
Asked about the real estate scenario in Mangalore in Karnataka, Lobo says it is dynamic and evolving. "As more players enter, the market is expected to mature in the days to come," he adds.
Demand for affordable housing is growing because of increased job opportunities. "As such we have not witnessed any slump in demand. And NRIs have always played a crucial role in Mangalore's real estate sector," notes Lobo.