Friday, June 12, 2009

Hooray! DS Kulkarni ends agreement with the Foreign Direct Investor, GTC Cyprus

But DSK hasn't cancelled the Fursungi SEZ.... Yet!

On July 3, 2008, DS Kulkarni Developers Ltd (DSKDL) and GTC Cyprus, a Kardan Group company, has signed an agreement to develop jointly a 250 acres multi-Service special economic zone (SEZ) project in Fursungi Pune through a 50:50 joint venture.

According to Sumit Arora, Vice President-Strategic Planning and Business Development, DS Kulkarni Developers, SEZ has almost 19 million square feet land. Which has been valued at almost Rs 800 crore. Whereas DSK's acquisition cost is only around Rs 350 crore.

According to the news in Business Standard, DSK has terminated his agreement with GTC Cyprus.

However, DSK plans to continue with the development of the proposed SEZ!

Reading this news was a great relief to me. I was little bit worried since i came to know that "global money is flooding into India at the rate of $1 billion a week" on Swaminomics.

Swaminathan S Anklesaria Aiyar's comment on this "flooding" was more frightening. Swaminathan says,
"If sustained, this will be the mother of all financial stimuli, eclipsing the finance minister's budgetary endeavors."

"If shady real estate companies can attract money, anybody can!"

While describing how "flood of $1 billion a week" is changing the sentiments, Swaminathan says,
"Suddenly real estate companies that were almost insolvent and could not attract either loans or equity have been able to place almost $2 billion with qualified institutional investors."
Moral of the story: If shady real estate companies can attract money, anybody can!

Shady or Not Shady, when real estate company in Pune gets foreign funding, we all know, how property rates go up in Pune real estate market! Before the launch of Blue Ridge Hinjewadi, property rates in Wakad, Pimple Saudagar were around Rs. 2,300 - 2,500 per sq.ft. Pre-launch property rate of Blue Ridge Hinjewadi was only Rs. 2,700 per sq.ft. What happened after the launch is a history!

Point is, cancellation of an agreement between Pune builder and his foreign direct investor is a good news for Pune property buyer. What say you?

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6 comments:

  1. This conclusion doesn't make sense. just because a partner walks away from a project in Pune with DSK, does not mean lower property prices. We dont know the reasons behind the breakup here.
    It seems like you have changed your tune recently. Earlier you were abashedly vehement about the pricing the builder's quote and also very much against speaking ill of any of the builders but now you are doing exactly those things. I can't speculate the reason for this but seems like you are better at the SEO (Search Engine Optimization) than at selling RE. Now you link with other blogs through here which would help better you ranking with search engines. So anything to popularize your blog and bring up its ranking will be done. Of course there's nothing wrong or unethical about it. This is just an observation over time.

    ReplyDelete
  2. # Ref: "This conclusion doesn't make sense. just because a partner walks away from a project in Pune with DSK, does not mean lower property prices."

    - Dear friend, I was talking about effect of FDI (foreign direct investment) on Pune real estate prices.

    # Ref: "It seems like you have changed your tune recently. Earlier you were abashedly vehement about the pricing the builder's quote"

    You are wrong my dear friend. Read these posts and see the dates:

    1) FRIDAY, OCTOBER 26, 2007:

    "He asked me why i think Blue Ridge is not for the citizens of Pune? I told him the history of Pune Real Estate Market. First, we constructed for NRIs, then for Mumbai Investors, after that for IT people. But now all are over.

    Now, at this location, at this special rate of Rs. 3200 per sq.ft. who else but aliens can book a flat!" Ravi Karandeekar's Pune Real Estate Market News Blog: Wait is over! Now you can become a world citizen! Paranjape Schemes', out of this world, Blue Ridge will be launched tomorrow!

    2) SATURDAY, OCTOBER 27, 2007:

    "Rate? Rs. 3,200 per sq.ft. only!"
    Ravi Karandeekar's Pune Real Estate Market News Blog: About Paranjape Schemes' reputation, booking rate at Blue Ridge and investing in the township at Hinjewadi, Pune

    3) SUNDAY, FEBRUARY 15, 2009:
    Ravi Karandeekar's Pune Real Estate Market News Blog: What should be the rational property rate of Blue Ridge Hinjewadi?

    4) THURSDAY, FEBRUARY 7, 2008:

    Ravi Karandeekar's Pune Real Estate Market News Blog: Congrats Pune real estate investors, for thinking irrationally and paying illogically high price for the newly launched property

    ReplyDelete
  3. # Ref: " very much against speaking ill of any of the builders but now you are doing exactly those things."

    - I was and I am against using bad language.

    - You can't hide behind me and using my blog to make "any type of comment."

    I was and i am against speaking anonymously without submitting any evidence or proof.

    That's why i started moderating comments.

    Read the comment policy:

    "I am moderating comments only to avoid the 'abuse and spam' and not to avoid criticism or a different point of view."

    Ravi Karandeekar's Pune Real Estate Market News Blog: Ravi Karandeekar's Blogs' Comments Policy

    ReplyDelete
  4. # Ref: "seems like you are better at the SEO (Search Engine Optimization) than at selling RE."

    - I am best at both. SEO and Selling Real Estate. First about SEO:

    - Thanks to my friend Mike Carter of "Web or Dead SEO Blog".

    Visit these blogs:

    1) MONDAY, APRIL 16, 2007:

    Ravi Karandeekar's Pune Real Estate Blog: 'Pune Real Estate Blog': I am in Top 10!

    2) FRIDAY, MAY 4, 2007:

    Ravi Karandeekar's Pune Real Estate Blog: Top SEO secret every blogger wants to know!

    3) MONDAY, APRIL 30, 2007:

    Ravi Karandeekar's Pune Real Estate Blog: How to get PageRank 7 for my Pune Real Estate Blog?

    - Pune real estate advertising and marketing:

    In 1992 -93, with Prakash Thombre (www.widemediaguy.com), my old friend and partner i started advertising agency in Pune specializing in real estate advertising.

    Atul Chordia of Panchshil was my first client who was planning his first project "Satellite Towers" in Koregaon Park. I learned a lot about real estate from him and soon my ad agency became major advertising agency in Pune.

    Those were the days of bust of Gulf real estate boom and Pune real estate was in serious trouble. I have played important role in changing Pune real estate advertising and marketing.

    Obviously, who else but me could become a pioneer Pune real estate blogger?

    Mastering SEO is an essential skill for every blogger.

    At this point, more than me, those whom i link are benefited. Because i am an authority Pune real estate blogger. Whom i link get a link from the authority blog and get more readers.

    I am happy for them. Because, i believe, that's the spirit of blogging. I believe that together we can grow and help Pune property buyers.

    More than SEO or blogging what is important for me is being useful to Pune property buyers.

    Thanks to Darren Rowse of ProBlogger (www.problogger.net) for inspiring and teaching me about blogging.

    Thanks to you for giving me an opportunity to tell this.

    ReplyDelete
  5. # Ref: "So anything to popularize your blog and bring up its ranking will be done."

    - I am already on the first page for all most all important search terms on Google, Yahoo and Bing (Windows live).

    I have come to the conclusion that in this year, 2009, i have reached to the maximum readership based on search engines.

    Now, to popularizes my blog and increase readership i have to do some "off line" efforts.

    Because, as per Google Analytics from 1st Jan 2008 to 31st Dec 2008 my blog had 86,204 visits.

    Whereas, in the first 6 months of this year, from 1st Jan 2009 to 14th June 2009, Google Analytics has a record of 68,537 visits!

    If I compare these figures with other blogs or websites, i feel good. But when i visit any property exhibition or look at the number of flats sold in Pune real estate market, i realize that there is a huge scope for increasing readership .

    So, reaching to these property buyers is my goal for the next 5 months.

    I believe that, i can contribute to Pune real estate market, only if, i could reach to these property buyers, write useful content for them and peruse them to join this conversation.

    Yes, you are right, i know, in fact I know quite well, how to reach Pune property buyers and increase the readership.

    I would like to bring one very important feature of my blog to your notice. My live network of Pune property buyers! People who call me on my mobile +91 98600 44110, chat with me on Google Talk (RaviKarandeekarsBlogs), write to me (RaviKarandeekarsBlogs@gmail.com).

    I am not only "on line", I am "live" too!

    Thanks for appreciating my blogging and giving me an opportunity to talk about my plans. I appreciate you for this.

    Keep visiting, keep talking about my blog, keep recommending and referring my blog to your friends and contact and keep on giving suggestion and tips for improvements, please! Thanks, once again!

    ReplyDelete
  6. Thanks for posting all your goals and history and SEO related details. I did not actually expect this long response but I'm glad you did that and that too in a true marketeer's way. Posting 5 responses to 1 making sure it adds up.
    Even though I read so many times that you were in marketing but never really understood the scale of what you did and your understanding of blogging and SEO as tools. It makes me more fascinated to read about it now knowing that you have a a grown up son, meaning you were not like most of us in IT for whom this technology can be easy to understand and use. Please take this comment on your age as a compliment.
    In any case I hope we get more useful information on Pune RE, with respect to making a purchase decision.
    Thanks.

    PS: I still stand by my statement about you having changed sides here. The blog entries you have pointed as "against the builders" seem to be mainly against Blue Ridge. So it doesn't really count as speaking against evil practices by builders to keep the inflated prices.

    ReplyDelete