Monday, May 18, 2009

Palash 2i, Wakad Pune, construction updates

Oh! What foresight some property buyers have!!



"Don't pay ADF to the builder."

"If builder gets 100 % down payment at the time of booking, what guarantee do you have that the builder will complete the project in time?"

Most of us, including me, had a some what similar opinion. Obviously, in July and October 2008, when Vilas Javdekar and Associates launched The Green Umbrella Offer for Palash 2.0 and then for Palash 2i, at Wakad, we strongly opposed the "scheme".

However, you know, many property buyers, in fact, too many property buyers, booked the flat under "No EMI till Possession" scheme!

Today, if you visit the website of Palash 2i ( www.palash2i.com ) and have a look at the progress of construction, you may wonder about the foresight these property buyers had!


View "Take a first left turn as you drive down the Hinjewadi flyover!" in a larger map

About Palash 2i, Wakad:

Palash 2i, built around the concept of "ego-friendly, eco-friendly", is a 12-storey high residential complex. The tower consists of twenty-four 2-BHK apartments and twenty-four 3-BHK apartments.

12th slab of Palash2i completed:

External Plaster of Palash 2i starts:

Brickwork 8th floor of Palash 2i:

Palash2i from the podium of C building of Palash 2.0

Palash 2i front view:

2 bhk and 3 bhk compact flats in Palash 2i, Wakad:


If you visit my blog "Wakad: Palash 2i news - 45 bookings in just 3 days!" posted on September 15, 2008, you will find Mr. Aditya Javdekar, Managing Director of Vilas Javdekar and Associates, promoters of Palash 2i, humbly announcing, "we have not only sold out all 2 bhk's but now have only a couple of 3 bhk's with us for sale .... taking the tally to 45 bookings in just 3 days."

However, today few 2 bhk and 3 bhk flats are still available for booking in Palash 2i.

How come? Why? Because, after the Global financial crises, cancellations happened not only in Paranjape Schemes' Blue Ridge at Hinjewadi or Magarpatta's Nanded City Pune on Sinhagad road but in all small and big projects in Pune real estate market.

Good news is that Palash 2i has not only managed to construct, till now, as per the promise ( and proved us wrong! ) but they are trying to give the possession before the promised date, March 2010!

Considering the current preference of booking in the project in which 70 % construction is complete and 70 % not bookings but agreements are registered, i thought some of you may reconsider Palash 2i!

For your convenience, personally i find downloading PDFs of floor plans and viewing them in Google Docs very inconvenient and time taking process, i am blogging the floor plans and costing of Palash 2i, Wakad.
Please, click to enlarge:

Total cost= basic cost (saleable area x rate) + MSEB & Open Parking (Rs. 1,50,000) + Development Charges (Rs. 50,000) + Society (Rs. 10,000)

Stamp Duty and Registration charges extra

3 bhk flat in Palash 2i - A1 type:

Carpet Area 913 sq.ft. - Rs. 36.54 Lakhs to Rs. 39 Lakhs

3 bhk flat in Palash 2i - A type:

Carpet Area 913 sq.ft. - Rs. 36.15 Lakhs to Rs. 38.58 Lakhs

2 bhk flat in Palash 2i - B type:

Carpet Area 718 sq.ft. - Rs. 29.46 Lakhs to Rs. 31.41 Lakhs

2 bhk flat in Palash 2i - B1 type:

Carpet Area 718 sq.ft. - Rs. 30 Lakhs

Related Story:

What's happening at Vilas Javdekar and Associates' Palash 2 and Palash 2i at Wakad near Hinjewadi, Pune?

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 5 minutes!) Call +91 98600 44110

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7 comments:

  1. Hi Ravi,
    Got 2 interesting news. If possible kindly post them as news & not as comments.

    http://www.indianrealtynews.com/real-estate-india/mumbai/election-woes-for-builders.html

    http://www.indianrealtynews.com/real-estate-india/delhi/builders-allege-upturn-in-property-demands-banks-disagree.html

    ReplyDelete
  2. # Ref:"Got 2 interesting news."

    Thanks, Parimal! Yes, interesting news, indeed! But recently, i have realized that these news, Delhi - NCR or Mumbai real estate news, are misleading. So, i have started to avoid blogging them. I blog them only when the "topic" is relevant to Pune real estate or worth discussing, for example this news:

    Real estate developers warn to potential home-buyers, "If you wait too long, there could be dire consequences"

    http://ravikarandeekarsblog.blogspot.com/2009/04/real-estate-developers-warn-to.html

    Parimal, I am real estate salesman. Not a critic or an activist. I blog to provide free and useful info to Pune property buyers. My focus is usefulness and relevance of information to Pune property buyer.
    Actually, i have to work a lot on this. This is just the beginning. I have to go deep. Under the hood!

    Am i right? I need your advice on this.

    ReplyDelete
  3. Hi Ravi,

    How about Palash 2.0 ? is it fully booked now ? If not could you please share some pricing info? The layout of the flats in 2.0 is amazing, isn't it? They called it 'out of the box' living. It’s a shame that the builder had to move back to the 'box houses' to battle the market conditions.

    Regards,
    MP

    ReplyDelete
  4. Hi Ravi
    I like your candid admission of the fact that you are a real estate salesman. By all counts, you are doing an excellent job of distributing information on Pune real estate.
    My observations as to Pune properties is that it is a highy hyped market. The prices that are quoted by builders are often without any rhyme and reason and also compared to other bit IT cities like Banglore, Hyderabad, Noida, Chennai .. the property prices are very high in Pune. May be due to proximity with Mumbai acts as a reason of this unnecessary high prices... All said and done, I have decided to stay away from PUNE property market as this in my humble opinion is not city worth its hype.

    ReplyDelete
  5. # Ref: "How about Palash 2.0 ? is it fully booked now ? If not could you please share some pricing info?"
    Hello MP! Yes, i agree with you!! I will write a post on Palash 2.0 and other "non-box" flats in Wakad. Rare species!! Till then, please, have a look at this Google Docs which i have received from them. It lists available flats in Palash 2.0 and their costing.

    http://spreadsheets.google.com/ccc?key=rPx20b4U0ZSpwI5b8EEs8jw

    ReplyDelete
  6. Ref : "I will write a post on Palash 2.0 and other "non-box" flats in Wakad"

    I am waiting.... liked the 3BHKs in H and F wing but seems there is nothing left ... would be interesting to see similar project in Wakad though !!!

    Thanks,
    MP

    ReplyDelete
  7. Never invest in pune properties.
    Pune properties are still much hyped when rates are coming down in cities like Bangalore much faster.
    Instead invest in stock market. I got 30% appreciation in 2 months. (yes, I lost in stocks in past too, but I recovered). Now I expect atleast 40% profit by Mid 2010. Sensex is speculated to pass previous high of 21K by that time.

    ReplyDelete