26/11.
Last year on this day, a few terrorists brought India's financial nerve center to it's knees, injuring the nation's psyche permanently.
On the same day, 26/11, this year,
Rama Group and Pharande Spaces launch their new residential real estate project at the property rate of Rs. 2,400 per sq.ft. at Ravet in Pune real estate market.
Is there any coincidence?
Everything is inside. Even terrace!
Before you shout "Rs. 2,400 per sq.ft. property rate in Ravet?", Rama Group and Pharande Spaces tell you, "Because in Celestial City ( www.celestialcity.in ) in Ravet everything is inside! Not only Lounge, Mall, Sports and Multiplex but the terrace of your flat is also considered 100% inside the carpet area of your flat!"Are you a builder or a terrorist?
Because, you are not aware about the recent tricks of the builders in Pune, you shout, "100% Terrace? Are you a builder or a terrorist? Why don't you shoot straight?""Builders. Kind builders of Pune! Look, we have loaded only 30% on the (carpet area + terrace)!," the builder says.
"30% loading for a building of Parking + 8 Floors in Ravet? Wasn't it only 25%? Wasn't terrace charged at 50%? Are you a builder or a terrorist turned finance minister?,"now, you start screaming about the builder politician nexus!
Dance Bar Properties in Pune:
If you are an outgoing type of a person who knows how things are charged in the trendy joints, you will not waste your time in counting rupees and sq.feet You know well that you have to pay 3 times more for a drink or a snack because the joint offers entertainment. You will only focus on major attractions. You will try to find out "inside" means exactly where?"Lounge inside! Where is it in the 1st phase?"
"Mall inside! Where is it in the 1st phase?"
"Sports inside! Where is it in the 1st phase?"
"Multiplex inside! Where is it in the 1st phase?"
"But, show me, Where is all this in the 1st phase?"
Click to enlarge!
"Only Terrace is "Inside"! Yes, i can see it completely considered inside the carpet area! What about the rest?"
Click to enlarge!
"Look at the complete picture! Celestial City is an "integrated township" in 4 parts!"
Click to enlarge!
"What about my second honeymoon? Are you planning to complete the construction of all proposed 4 parts of Celestial City by that time?"
You are very much convinced that Celestial City is like your family! Though your parents, brothers and sisters stay in different parts of the world, you are all one family.You also start admiring the builder for not over exaggerating! Though, the railway line is very close, Celestial City is not claiming that Akurdi railway station is "inside".
Though, Pune Mumbai Expressway is so near, Celestial City is not claiming that Khandala Hill Station is "inside".
Though, Chakan air port would be nearer to Celestial City than any project in Wakad, the builder is not claiming that New International Air Port is "inside"!
You have only one doubt. That radio commercial was talking about celebrating "second honeymoon"! So, you ask the builder, "What about my second honeymoon? Would you be able to complete the project by that time?"
"Sure, we will! Generally, people go after retirement. When are you planning your second honeymoon? ," the builder asks you.
"Certainly, i will let you know. At this point of time, i have to make arrangements for my first honeymoon!," you tell him while trying to calculate travel time from Ravet to Hinjewadi. "Except Hinjewadi, why go out?," you ask yourself!
Click to enlarge!
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Good to see you are showing the negative side of projects too, though in terms of sarcasm. Atleast your post is not biased towards the builder. Or do you not like this builder :)
ReplyDeleteI feel making townships is not every tom dick harry builders capacity. It takes a lot of time and needs full commitment to deliver goods which I dont believe Rama group currently has considering their existing projects are aready delayed and of average quality. How will buyers then have confidence on the quality of the finished product and possession dates. Also such a price cannot be commanded in an area like Ravet. Prices shouldnt be more than 1500. And charging 100% of terrace and 30% loading calculation is just laughable
Thanks for entertaining us with such posts
These builders should stop all these cheap gimmicks and instead sell plain flats at Rs. 1200 to 1400 per sq. ft. at a place like Ravet.
ReplyDeletePeople should stop falling prey to these dirty tricks.
Price of 2400 per sq. ft is absolute rip-off in a place that is sooooo far from city.
Builders will start calling Mumbai as part of Pune and would charge in millions.
Celestial ravet city is very big project, provides so many facilities in their plan. hope they fulfill what they committed.
ReplyDeleteOk Where is Ravet? Just kidding. I exactly know where it is and hence the sarcasm.
ReplyDeleteOk to come to the builder's rescue here is what I have to say... I am told that the terrace premium that a builder pays to PMC or PCMC has now gone up many folds and costs a builder almost like the FSI. I am not an expert but Ravi can do a little bit of Sherlock "Homes" and let us know.
But 30% for 6-7 storey towers is "puke"ing.
Rate of 2400/- in Ravet is like buying a Maruti with Honda Accord premium.
Got speed some sense to this builder.
Ravi, calling them a Terrorist is a bit too harsh no matter how upset you are.
By the way why would I buy in Ravet, if I really liked Rama then why not at Wakad in one of their project at 2500/-. Or any other builder at 2500-3200/- in Wakad.
Ravet spelled backwards is Tevar. Aare Baap Re is Builder ke Tevar to Dekho.
Definitly the project will a big project in Ravet and other builders also started their project due to Rama Groups Celestial Project. Just before this project new petrol pump also under development phase. Within few days Ravet will be one of the fast developing area in Pune. Express high way, railway station, hinjewdi IT park etc are close to Ravet, plus Ravet had gift from Nature - Pavana River, which is creating Ravet pleasent than other areas
ReplyDeleteI smell a fish here. A builders fish here. Ok even more precise a Sales Fish from a Ravet builder. Take a guess. I am sure You will agree with me if you read the following post in quotation. esp. "Many builders have started their projects due to Rama Groups Celestial project". --- Eureka!! Someone is first to notice Ravet on world map. I am getting goose bumps.
ReplyDelete"railway station in Ravet" - Yes can I get two round trip tickets to the moon. I would like to get connected from Ravet to the moon by a railroad so I can fetch some clean water from the moon. You know moon now has clean water.
"Petrol pump" - Yes sir it is a HUGE bonus because, you see, there are not many on NH4 or in Pune. You talk of a Gas station like they struck oil in Ravet and the Pune economy will boom due to this new found petrol pump. Let me buy some land and start drilling.
"Gift of nature". Aha now that is very new to Pune. I would love to swim in and drink from the almighty Pavana river. This river brings lots of "fertilized" water from up stream.
"Within few days Ravet will be fastest developing area of Pune". -- Holly Molly. I must rush to get a dozen flat in Ravet. In fact all including Ravi should get one. Can you give me your name and contact number so I will give that sale business to you Mr. Builders Sale Fish. This way you can make some commission.
"creating Ravet pleasent than other areas" --- Now I like Nature, I like pleasant, I like openness. May be I can take an open air dump like many other fortunate Ravetians. Honey get me my Dalda ka dibba. My personal hygiene is great in Ravet.
I respect you opinion my friend but we can read and smell siht(please rearrange the spelling to your liking).
Hi Ravi... I am not upset with Ravet, or the builder Rama group. It is just when fish like this guy /gal question a consumer's intelligence, I get sarcastic.
Peace man.
Hi Ravi
"Anonymous said...
Definitly the project will a big project in Ravet and other builders also started their project due to Rama Groups Celestial Project. Just before this project new petrol pump also under development phase. Within few days Ravet will be one of the fast developing area in Pune. Express high way, railway station, hinjewdi IT park etc are close to Ravet, plus Ravet had gift from Nature - Pavana River, which is creating Ravet pleasent than other areas
SATURDAY, NOVEMBER 28, 2009 8:33:00 PM IST"
To my friend who wrote following.
ReplyDelete"Anonymous said...
These builders should stop all these cheap gimmicks and instead sell plain flats at Rs. 1200 to 1400 per sq. ft. at a place like Ravet."
I am the same person who had sarcastic opinion about the sales fish who praised Ravet etc.
But to be fair to builders and consumer its your turn now.... What age do you live in to expect a builder to sell at Rs 1200 to 1400 a square foot. Even the God can not afford to do that if he worked in Pune, Maharashtra,India.
Lets say God has given this land for free to you. So now please buid it for me and sell me for 1200/-. I want no pool, no gym, no whistles and bells. Just a pakka RCC flat with regular amenities like water, sewage and electricity.
Ravi.. its guys like this who write stpidest of rates and makes a potential consumer wait indefinitely until he realizes that he is too late.
I am no builder but I know lots of their numbers as my internship was with a good builder a few years back. Man the numbers do not add up to be able to sell at 1200-1400/-
IMO Land cost in Ravet 600-800/-per sq feet. Construction cost for a 6 floor building 900/-
PCMC and Govt "cost"- 100-150/- per sq feet
So do the math. 600+900+100=1600/-
Now add a genuine profit of Rs 300/- a foot
i.e 1900/- Final sale price.
Ok this cost does not include, clubhouse, gym, pool, etc etc.
It does not include ad cost etc.
So in all fair respect you are messed up with 1200-1400/- as number for Ravet.
A fair value for Ravet therefore is 2000/- a sq feet. Correct me if I am wrong Ravi.
Peace man.
"IMO Land cost in Ravet 600-800/-per sq feet. Construction cost for a 6 floor building 900/-
ReplyDeletePCMC and Govt "cost"- 100-150/- per sq feet
So do the math. 600+900+100=1600/-
Now add a genuine profit of Rs 300/- a foot
i.e 1900/- Final sale price."
That is what the builders will always brainwash you in Pune.
The land price gets distributed amongst
7 to 8 flats (and they also charge for parking), Construction cost for big buildings comes out to be 700-800 p.sq.ft.
So it is 100(L)+700(C)+100(O)+300(P) ~ 1200-1300 p.sq.ft.
At outskirts, Planet Millimum (near Rakshak Society) sold flats at 700 p.sq. ft in 2004-2005. So Ravet is nothing different.
But then, we have Builder lobby, who will shark upon urban land, build flats, and sell them at their own price ensuring 3-digit profits (in %).
Do you know at what price the builders purchase land? Certainly not at what they quote...
"Even the God can not afford to do that if he worked in Pune, Maharashtra,India"
ReplyDeleteThat is a typical propaganda by the builder lobby. Pune is hot, so you got to pay a lot
"A fair value for Ravet therefore is 2000/- a sq feet. Correct me if I am wrong Ravi."
Great! So who decides fair value?
Have you ever looked into prices in areas just outside Pune?
Ok let us not dig into history here my friend.
ReplyDeleteMy dad bought in Aundh for 1200/- about a decade+ back as investment. I know folks who paid Re 1/- per sq foot in Sindh colony Aundh in 1965. I know my milkman made ascheme in Aundh village and sold for 275/- a sq foot in 1990.
But dig this each year in real estate is a bad news worsening.
In 2003 Planet Millimum (near Rakshak Society)land was at about Rs60/- a sq foot. Construction cost then was not more than 400-500/- (cement was about 120 a bag and steel below 20K) All other component of construction was cheap to including official and not so official cost at Govt offices. Man I have done my thesis on this with all numbers etc. Wakad in 2001-2002 was about 40/- per sq foot. So they could make it cheaper and sell it cheaper and still make a good margin. ie 150-200/- per sq foot on a sale value of 600-700 per sq feet.
I am no builder fan or a propaganda machine. But when you are way off in your price predictions that really is a misinformation to society.
In 2004 Aata , Chawal Daal too was very cheap. Why are you paiding Rs100/- per kg for the same Daal that was Rs 20-40/- back then.
In business school they always thought us.. don't look at your cost of row material when you bought it. But look at what it will be when you buy it again... and based on this you decide what profit you want to make so that you can afford to buy that raw material again. In this senario Raw material is Land. Cost in 2004 Rs 50/- today 1000-1200/- (Planet Millimum (near Rakshak Society).
True that most of the builders got annoyingly greedy in 2005-2008, But as a consumer one must not dwell on past look for right valuation today. IMO Ravet at 2400/- is not a right value. It is much better at 2000/- and it will be a steal at 1400/- but then I dont know if you will get delivery if anyone committed you at 1400/-.
Ok one more thing.. I am not professionally in any construction activity. And I do not have any soft corner for this industry as a result of my internship. I just like to follow the RE market cose of my formal training in there. I make good living trading commodities etc. (Grandfather's business)
Finally Ravi.... why so silent man. I can see you as an innocent by stander in a corner dodging bullets. LOL
Love your blog.
Peace man.
If we buy at 3digit profit they will make it and sell it.
ReplyDeleteSo don't buy and let the demand come down. There will be surplus and then liquidation.
"Man I have done my thesis on this with all numbers etc. "
ReplyDeleteThesis? My foot.
Kikso ullu banay rahe ho yaar (Sorry MAN)?
I have assumed the current land price that you have quoted (i.e., 600 to 800 psq. ft.) and have still shown you how 1200-1400 is not nonsense. Take some math classes and STOP fooling people.
About channa-atta rates and share markets going up and up ... This is again incorrect logic that is being propagated. One Pune builder even quoted (in 2007) that "... See where the share market has gone, So RE should also go up!". But they did NOT crash RE prices when the share market crashed! Unfair guys!
About nobody selling at that rate (1200-1400 per sq.ft.), we know that MAN. We also know that we may be wasting our time here. But so be it man. Only Time will speak out man ...
Peace Man! Peace Man! Peace Man!!!
Well post it here when Ravet, Wakad, PS, PN sells at 1500/- in a good complex. I will buy it and officially disclose my name. Until then good luck to you. and pray for rest of us willing to buy at 1500/-.
ReplyDeletePS Let me know when you start the math classes. I will take a refresher course then.
My apologies for many spell/typo in my mails.
Hi Ravi.... Still mum. Wuz up MAN?
Peace.
Hey, 'Man' guy, because of your lengthy mails, this discussion is 3rd in popularity on this blog in Nov 2009!
ReplyDeleteCongrats Man!
Peace Man!