Tuesday, June 30, 2009

Pune real estate market has revived!


Now, too less for too much!

Swiss County Too and Silver Mist to increase property rates from 1st of July!!
Rama Groups thanks Pune property buyers for booking Umeed se zyada budget flats!!!

It is true that a proper demand is yet to be seen in the Pune real estate market in the residential segment.

However, Pune builders beg to differ.

According to them, the momentum started picking up April onwards and they quantify it at around a 40 per cent increase — that’s in comparison to November, December and January, when sales were nil.

“In Pune, a revival is happening across the board. The genuine buyers are back in the market. The responses were phenomenal in the last two months.

The response in April was around 10 per cent, but right now, it is over 50 per cent,” said Rohit Gera, vice-president, Confederation of Real Estate Developers Association of India (CREDAI).

“The price in the city has not risen like it has in Mumbai and Delhi. So, the correction was also not that steep.

The buyers realized that the prices have bottomed out and also read the indication of possible price hike from this level. That is the main reason behind the movement we see in the market,” he added.
To read more, please, visit - Pune Mirror

Is there anybody who says "No! Pune real estate market is not revived!!"? Please, share your views in the comments!

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Friday, June 26, 2009

Last call for booking your 2 bhk flat in Darode-Jog's Crossover County on Sinhgad road

Home Loan from HDFC at 6.25 % for 2 years:


In the next couple of months, possibly, Darode-Jog Properties will not have a single unsold flat in their Crossover County on Sinhgad road.

Already, all 3 bhk flats are sold out. Only a few 2 bhk flats are available in the E, F and G wings. For these last few 2 bhk flats, Darode-Jog is offering subsidized home loan at 6.25 % for 2 years from HDFC.

For those who demand price reduction and oppose size reduction!

For a while, this special offer is promoted only in Pune offices of HDFC . I thought, i must blog this offer because most of us are looking for "normal" flats.

You are not interested in the recently launched "compact affordable homes". You are waiting for substantial reduction in the property rates. When the real estate prices will touch the bottom, you will grab the first and best opportunity to book an almost ready or an early possession "normal" flat. Right? I thought, this is it. Check it out!

Rate of Recession, Property of Boom!

On R2ICLUB Mr. metalmann's post "Crossover County Sinhagad road - Any thoughts?" is quite insightful. Mr. metalmann, who is obviously not a Darode-Jog fan, says,"I have zeroed in on this project as the least painful option available."

According to Mr. metalmann Pros are:

1. Well known builder (Darode-Jog)
2. location though not great, is acceptable as my target area Kothrud is saturated and this area is accessible by car/public transport in a radius of 5km from Swargate/Shastri Rd
3.No known water problems
4.1000_sqft + options available
5.Wife likes design and upmarket feel (hates location)
6. Choice of apartments available: out of 7 buildings, was offerd choice in 5

And Cons are:

1.Rate qouted Rs3300/- (works out to Rs3450 if we add piped gasline clubhouse charges etc) it is supposedly down from Rs3800.
A 992 sqft apt is tagged 38,50,000/-
2.Posession december 2009.
3.The outer skeletons were visible....but all internals including plastering needed to be done.

For those who value ordinary stuff!


After describing pros and cons, Mr. metalmann asks you, "Any thoughts? Is this a good rate?". "Yes, It is Mr. metalmann!," i felt like telling him.

Because, you will agree with me that, when we are serious about buying property and want to know whether the property rate is right or not, we are not talking about rupees we pay for per sq.ft.. We are talking about the value. We want to know worth of the property. Which includes money, quality and durability of the real estate, quality of the neighbors and commitment and service of the builder. Isn't it?

I know well that Darode-Jog is considered a good builder because his every project scores on these points and offers value for your money. Not because Darode-Jog's flats are exclusive and out of this world or his construction quality is extraordinary or specifications are excellent.

We, property buyers also don't expect something unexpectional. We sincerely expect good sensible planning, dependable and lasting construction quality, essential fittings and fixtures in our homes. Problem is to find something "normal" we have to hunt and investigate! Isn't it?

Since i have started Ravi Karandeekar's Pune Real Estate Market News Blog i have come across a huge number of property buyers like you who value fundamentally good real estate and reasonably good builder.

Like me, you may not know Darode-Jog for last 25 years. You may not have seen Darode-Jog's previous projects or may not have bought property from them. So conventionally, you may not be considered a Darode-Jog's customer.

But, i believe that, since you value fundamental goodness in the property you should be considered as a potential customer. You may seriously consider booking 2 bhk flat in Crossover County. Considering this possibility, it becomes my duty to blog about Darode-Jog's last call. You may not opt for Crossover County but you shouldn't miss an opportunity! I believe.

Menu Card Vs Investment Portfolio:


Here, I would like to add only one point. Recently, when Darode Jog reduced the property rate from Rs. 3,500 to Rs. 3,300 per sq.ft., they ran a creative ad campaign only (for 1 day) in the Marathi newspaper Sakal.

When i asked the reason, Mr. Sudhir Darode, Director of Darode-Jog said,"In the last 25 years we have developed a customer base who know well what quality we offer. By this price reduction we are trying to respond to their demand. We are not hunting for new property buyers!"

In short, now, when all of us are doing our best to deal with the "hang over" of economic growth and globalization, traditional tested values are gaining lost ground over contemporary favorites in every field.

In Pune real estate market, builders are looking for reunion with their traditional customer base. Property buyers like you are keeping aside "mouth watering menu card" for "investment portfolio" because, now, you are looking for a safe and long lasting real estate asset. For example, look at these options of 2 bhk flats in Crossover County:

First, about Crossover County:

1) Located on main Sinhgad road, at Vadgaon Khurd, near Loakmat Press (Phone: +91 - 20 - 2430 0001 / 56 / 65, Email : prajakta@darodejog.com) is going to get lot of importance in near future because of it's closeness to Nanded City Pune.


2) In its 2 phases Crossover County has 275 flats in nine story 7 wings. At this point, flats are available in E wing of 1st phase and F & G wing of the 2nd phase.

3) If you see the layout, you will find that the project is planned in such a way that every flat or at least the bedrooms are open from 3 sides and have a view either of inside amenities or open spaces.

4) Windows of the two wings don't face each other and offer privacy.

5) Landing on each floor is spacious and has enough light and ventilation.

6) There is adequate parking on the ground and the first floor of the building. The drive way, considerably long, is treated in such a way that it is going to become an attractive feature of the entire project.

7) Amenities are well planned and i am sure besides beauty these will add "up market" sophistication to your home.

8) Click here to visit Visual Tour on www.darodejog.com

About 2bhk flats in Crossover County:

1) Besides 3 side openness of the bedrooms which offers good light and ventilation (yes, without disturbing the privacy!), 2 bhk flats in Crossover County has a typical "Puneri" L shape for the living and dinning area which offers privacy and gives homely feeling to your flat.

2) If you see the sizes of living room, kitchen and bedroom, you will say that all are "spacious enough" to feel comfortable and provide "optimum" required space for family activities like dining, entertainment or for just being at home with your dear ones.

3) At Crossover County omnipresent dilemma of choosing between two alternate floors is solved intelligently by making it more difficult to decide! If you subscribe to the popular idea of "Terrace with the Living", your bedroom will not have a terrace. But if you opt for the even floors, you will get 2 terraces, 1 for the dining and 1 for the bedroom!

4) Thanks to the popular belief of east or west facing main doors! Your flats in F & G wings have an entrance lobby which flats in E wing don't have.

5) Click here to get the feel of your wellfurnished flat in Crossover County.

E wing of Crossover County:

1) E wing: 2 bhk flat (728 Carpet) + Terrace with Living - on Odd floors:


2) E wing: Typical Floor plan - Odd floors:


3) E wing: 2 bhk flat (722 / 723 Carpet) + Terrace with Dinning and Bedroom - on Even floors:


4) E wing: Typical Floor plan - Even floors:

F and G wings of Crossover County:

I have told you that i was very much convinced that i must let you know about this last opportunity to book a 2 bhk flat in Crossover County. But on the website of Darode-Jog Properties (www.darodejog.com) there was no information of these F & G wings. So, i requested Ms. Prajakta Kulkarni, salesperson at Crossover County, for the data. She gave these soft copies of the brochure which I am uploading for you. Please, click the image for large view.


1) F and G wings: 2 bhk flat (730 / 737 Carpet) + Terrace with Living - on Odd floors:


3) E wing: 2 bhk flat (734 / 740 Carpet) + Terrace with Dinning and Bedroom - on Even floors:


4) F wing: Typical Floor plan:


4) G wing: Typical Floor plan:

What is your take on a "normal" Puneri 2 bhk flat?

You wont believe but fact is, though i am born and brought up in Pune, i have never lived in a typical Puneri 2 bhk flat! Obviously, i am always curious to find out how does it feel.

I don't know why, but i always feel that living in Puneri 2 bhk flat must be a life changing experience. Life means, your domestic life, some sort of change must be happening in your relationship with your spouse and children, i believe.


In this Puneri 2 bhk flat, please see the graphic, though not in equal proportion but housewife has her own space of substantial size and control over a large area of the home.

While sitting on the sofa, watching cricket match with his friends, husband may feel like he owns this place and everything is set to look after him.

But if someone looks at it from another angle dear husband has a limited slot and say in this system, and can be dethroned at any given point of time by his loving spouse! Point is in Puneri 2 bhk flat, the division of space and area of influence is completely in favor of the housewife, as if husband owns the TV but remote is with wife, and, i am sure, this must be influencing the relationships within the family members. What do you think?

Surprisingly, i have heard people talking about "flat culture" when they talk about 'changing' relationship between the neighbors. But what about the changes taking place in the relationship of the family members? I am always curious to find out. Thats why my windows have no curtains.

But here, i have to ask you, "what is your take on a 'typical' Puneri 2 bhk flat?" and request you to share your "life changing experience of living in Puneri flat" in the comments. Please!

Contact Crossover County:

Ms. Sampada Joshi, Reception

Ms. Kavita Shingade, Sr. Sales executive

Ms. Prajakta Kulkarni, Sales Executive

Mr. Shuddhodhan Naik, Sales Executive

S. No. 12, Vadgaon Khurd, Near Lokmat Press, Sinhgad Road,
Pune - 411 041.

P : + 91 - 20 - 2430 0001 / 56 / 65

E : crossover@darodejog.com

Website: www.darodejog.com

Related Story:

Anand Jog, Director - Darode Jog Properties, on budget homes and property rates of Greenland-County at Narhe Ambegaon, off Sinhagad road, Pune

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1) May 2009: most popular posts

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3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

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Monday, June 22, 2009

Paranjape Schemes' Blue Ridge Hinjewadi - visit www.blueridge.in for updates of 'work in progress'

Work in Progress - 18-6-09:

I don't find anything as exciting as watching "work in progress" of a real estate project.

Of course, there is nothing like being present at the site and watching "live", but when the project is Paranjape Schemes' Blue Ridge Hinjewadi, even photographs are also equally exciting. Not only for me, i am sure, but for all of us! Right?

Come on, have a look at few photographs here (Thanks to Blue Ridge!) and visit their website www.blueridge.in for more!

Blue Ridge Hinjewadi: visual impression:

Layout Plan of Blue Ridge Hinjewadi:

Work in Progress - Residential Towers - Blue Ridge Hinjewadi:

What's your take on the progress of work at Blue Ridge Hinjewadi?

Now, i am sure, most of us have realized that initially these integrated townships, like Blue Ridge, Megapolis, Amanora or Nanded City Pune, take a lot of time to achieve some substantial progress. However, everyone of us always have some exclusive observations about the speed of progress of work at these townships. What are yours about Blue Ridge Hinjewadi? Please, share in the comment!

Related Stories:

1) What is more important for you when you invest in Pune real estate?

2) Satish Magar on Nanded City Pune

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1) May 2009: most popular posts

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3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

Feel free to call me:

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Sunday, June 21, 2009

Ready-to-move-in branded apartments, investing in Indian real estate, buying property - a blind game? - real estate news links

Future Group to foray into ‘Real Estate Business’

The Kishore Biyani-led Future Group is all set to foray into real estate business for building ready-to-move-in houses.

The company has informed that it has signed 50:50 joint venture with Kolkata-based developer Sumit Dabriwal, to incorporate FH Residencies, for 'branded apartments' that would be available at an 'affordable' cost.
To read more, please, visit - TopNews

Indian HNIs prefer realty investment in India than abroad

The Indian HNI (high net worth individual) is being aggressively wooed by foreign developers. With the balance of economic power shifting towards Asia, and with India projected to be the world’s third largest economy by 2050, and a subsequent increase in the number of wealthy individuals , property consultants from across the globe are making a sales pitch, and also getting the HNI segment interested enough to buy.

HNIs are people with net financial assets (liquid assets) of at least $1 million, excluding primary residence and consumables. Data from consultants like Cap-Gemini and Merrill Lynch suggests that India has the youngest HNI population in the Asia-Pacific region, with the club having even 28-year-olds on their rolls.
To read more, please, visit - The Economic Times

Wanted: full disclosure (!)

In case of most of the products in the market today, you can see, touch and feel them, satisfy yourself about their features, read reviews, and in many cases, test-use them, and only then decide to purchase them.

But in case of real-estate products, the situation is quite different. Here investors have very little to go by beyond the glossy advertisement, a site visit, and a tour of the sample flat (decorated with expensive furniture and fixtures, all shrewdly calculated to impress). With so little information, investors are expected to pay up money in advance for a product that will be delivered 12 months to two years later.
To read more, please, visit - Indian Express

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Saturday, June 20, 2009

Ackruti Countrywoods on Katraj Kondhwa link road increases the property rates by 50 rupees!

Now, Rs. 2,300 per sq.ft.!

1 bhk terrace flat - Rs. 12.88 lakhs

2 bhk terrace flat - Rs. 17.02 lakhs

Akruti or Ackruti?



Last time it was Akruti. But in today's ad there is a change in the spelling! Now, they have added "c"! So, now, it is spelled as Ackruti Countrywoods.

Change in the spelling is not only in the name of the project. Even the name of promoter has also changed! Now, its spelled as Ackruti City!

Last time url of the website was www.akruticity.com, whereas today its www.ackruticity.com!

When i visited www.ackruticity.com there was no change in the name of the company. It's still spelled as "Akruti City"! Even the name of the project is "Akruti Contrywoods" on the home page.

"No need to worry?"

I called "their" Pune office. No responsible person was available. I called "their" Sr. Manager - Business Unit and my old friend, Tarang Patel. His mobile was diverted to the salesman. The salesman said, "But there is no need to worry!," he said.

"Worry!?" Who was worried? I was under impression that the change in spelling may be because of some "expert's advice"! It happens all the time in Bollywood!! Or must be a printing mistake. I was not worried!

This "worry" element took my charge. I called "their" registered office in Andheri (East), Mumbai. "Pioneer and leading Pune real estate blogger, Ravi Karandeekar," I introduced myself. The line was transfered to some "responsible" person. Mr. Responsible didn't know about this change. He kept me on hold. After a few minutes, my line was disconnected!

"Has Jairaj Group taken over Contrywoods?"


"This project" (Akruti / Ackruti Countrywoods) is a joint venture between "them" and Jairaj Group, "The Land Merchants" of Pune!

Jairaj Group is present, directly or indirectly, in all major real estate projects in Pune. From 'Amanora Park Town' to 'Akruti Countrywoods'. "Has Jairaj Group taken over the charge of Akruti Countrywoods?," I was curious to find out.

Like all leading builders in Pune, at some point of time, Jairaj Group was my client. However, because of my policy to keep a distance with my old clients, I hadn't talked to Rajeshbhai or Jayantbhai for a long time.

I called Jairaj Groups' office. Jayantbhai or his son Malavbhai were not available.

Receptioninst suggested that i should talk to Nileshbhai. "No!," Nileshbhai said. "Jairaj Group hasn't taken over. Akruti is still "running" Countrywoods," he confirmed.

Actually, Nileshbhai was not even aware about the change in the spelling. I requested him to let me know if he finds out anything by Monday.

"What's the big deal?"

"What's the big deal?," you may wonder! It's just change in the spelling!

You are right. Not a big deal if the builder is local, Pune builder. Which Akruti is not. Akruti is from Mumbai.

Besides this, Akruti City Limited is a listed real estate company. You can visit Google Finance to find out more about Akruti City Limited BOM:532799 .

Now a days, when any real estate company is "in the news" more often for this type of news "Roller-coaster ride continues for Akruti City", every property buyer who invests in the project becomes curious. Your life is at stake!

And if you are a real estate marketing consultant in Pune (India) and a blogger, who enjoys introducing himself as "I am Ravi Karandeekar, pioneer and leading Pune real estate blogger!", (when he stands in front of the mirror in his birthday suit after the shower!), you are bound to become more suspicious. You want to know "Why "c"? What's going on in Akruti City?" Isn't it?

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Silver Mist, Pimple Saudagar, Pune - 2bhk for 22.32 and 3 bhk flat for 26.91 lakhs - an unbelieveable property price?

After a huge response to Swiss County Too, Rama Group says,"Dream for more!"

Affordable Luxury Comes Homes at Pimple Saudagar !

This new residential project by the Rama Group is the solution that bridges the gap between what you demand & what is possible. This is a living experience created in line with the dreams that each individual has deep in their hearts - to lead a life that’s graced with all comforts of luxury in a prime location, but which comes with a price tag they can afford.

A dream that’s realized at Silver Mist!!!

How sweet! Would you like to read more? Visit: www.ramagroupindia.com

Affordable Housing Projects in Pune Real Estate Market - Google Maps:


View Affordable Housing Projects in a larger map

Related Stories:

1) Why Swiss County Too, Thergaon - Wakad annexe, got "overwhelming" response?

2) Swiss County Too, Thergaon - Wakad annexe Pune - launches 2 bhk flat of 655 carpet for 26 and 3 bhk flat of 815 carpet for 31 lakhs

3) Om Developers launches budget flats - 1 bhk for 13.53 & 2 bhk for 19.38 lakhs in Golden Palms, 2nd phase of The Island at Wakad Pune, near Hinjewadi

4) Rohan Builders' upcoming project of cozy 1 bhk, 2 bhk and 2.5 bhk flats at Bavdhan

5) DSK Vidyanagari, behind Pashankar Auto, Baner and DSK Janhavi, Bavdhan - last 2 days, 16TH & 17TH May, to get the benefit of launching property rate!

6) Why Goel Ganga Group's ‘good value game show’?

Visiting for the first time?

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1) May 2009: most popular posts

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3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

Feel free to call me:

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Park Infinia at Fursungi - Kumar Properties reduces the property rate to Rs.2,250 per sq.ft.!

Good old property rate - click to zoom:

Why didn't Kumar Properties reduce the property rate of Park Infinia to Rs.2,100 per sq.ft.?

On the day of launch of Credai Pune's property exhibition "Best of East Pune", it was a big news that next day, on Saturday, Kumar Property is going to announce the price reduction of Park Infinia to Rs. 2,100 per sq.ft..

It was not a gossip but an authentic news. Nobody but salespersons of Kumar Properties' themselves were telling everybody about the price cut!

After coming home, i blogged the breaking news about price cut, but before pushing the "Publish Post" tab, i realized that the source of the news was "authentic" but not "official". It was quite an odd time to confirm it with any authentic, official source from Kumar Properties. So, i didn't publish but saved the post.

Next day, i couldn't control my enthusiasm and did what i am avoiding doing for last couple of months. I went to the stall at corner to purchase the newspaper.

Please, don't misunderstand me. I don't avoid "paying" for the newspaper and try to read it for "free". No, it's not about paying or reading for free. I am trying to give up the habit of reading printed newspaper for reading RSS feeds.

I picked the newspaper Sakal and before paying for it browsed all pages looking for Park Infinia's ad. When i didn't find it in Sakal, i picked up Times of India. But the ad was not in Times or in Property!

I was glad that i didn't publish the breaking news of Park Infinia's price reduction on my Ravi Karandeekar's Pune Real Estate Market News Blog, an unofficial but an authentic newspaper on the web of Pune real estate market.

My "ego trip" didn't last for more than 3 seconds because i had to deal with the reality. I had to face the tough question. No, not "Why Kumar Properties didn't reduce the property rate?" But "Should i pay for and read the printed newspaper or just keep it down?"

Old habits die hard! Change is not an easy thing to achieve! Being with the time is tough! Reading the newspaper with a hot cup of coffee is an enlightening experience!!

Related Stories:

1) After Megapolis at Hinjewadi, Kumar Properties launches Park Infinia, garden township of 1008 flats at Fursungi in Pune, at Rs.2,500 per sq.ft.

2) Kumar Properties' Park Infinia at Fursungi - increases property rate to Rs. 2,600 per sq.ft.!

3) Kumar Properties' Park Infinia at Fursungi and Pune real estate dilemma

Visiting for the first time?

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1) May 2009: most popular posts

2) April 2009: most popular posts

3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

Feel free to call me:

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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Thursday, June 18, 2009

MMRDA's proposed 101 storeys Iconic Tower at Wadala, Mumbai - several firms are keen to design and build!

Tallest in India and among the world’s 10 tallest buildings:

Mumbai Metropolitan Region Development Authority (MMRDA) hopes the tower, at 101 storeys, will be not only the tallest in the country but also among the world’s 10 tallest buildings.

The Rs 2,500-crore project will be executed on a build-operate-transfer basis. Of the 101 floors, 30 will be given to the developer who can use those for hospitality and other businesses.

The MMRDA plans to ensure that the tower conforms to green norms.

“Nine companies have bought the bid document for constructing the tower while 23 companies have shown an interest in designing and offering consultancy services,” said R Ramanna, additional chief of transport and communication, MMRDA.
To read more, please, visit - Indian Express

Skyscraper faces height hurdle!

There's just one hurdle. The area comes in the aircraft-flying zone and the MMRDA and the state government will need special permission from the civil aviation ministry to raise the permissible height of the iconic structure to 500 metres.

The MMRDA and the state government are willing to flout the existing rules and make an exception only for this structure, which will be more than 100 storeys tall.
To read more, please, visit - MidDay

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Indian cities should make space for low-cost housing

In the next six years, urban India needs to build at least 10.5 million houses to meet the demand for housing that accompanies rising levels of urbanization. With the financial crisis bringing affordable housing back on the radar of promoters and builders, it is worthwhile to estimate the extent of unmet demand for low-cost houses.

As much as 65% of the demand in India’s top 112 cities is for houses measuring less than 1,000 sq. ft. This translates into approximately 6.8 million new homes. Interestingly, about 70% of the demand would be for houses with two rooms or less. This means 7.4 million new houses need to meet these specifications. This is because 90% of the urban households have incomes under Rs5 lakh per annum.

Thus, the demand for majority of the urban housing would be in this category. The rising slum and squatter settlements in cities is a clear sign that this demand is not being met through formal housing stock.
To read more, please, visit - India Real Estate Tracker

Why Goel Ganga Group's ‘good value game show’?

You....naughty young couples, let us play a game!

Today, i received a press release "a free flat from Goel Ganga's great value offer". The press release lists number of reasons for launching the "game show".

Last time, i have learned that, you, naughty young couples wish to have smaller homes today and larger tomorrow! The reasons listed in today's press release, tell me many more things about you and the organizer of the game show.

I am listing these reasons bellow. Can you rearrange these reasons as per their importance according to you? If you do it in 10 seconds, you will get an exciting free gift in your next life.

Here are the reasons and the text of the press release:

Answer 1:

To celebrates 25th anniversary

Answer 2:

To create excitement and positive buying behavior in slow moving market of 1 bhk, 1½ bhk and 2 bhk flats in the range of Rs.18 to Rs.30 lakhs at Aundh Annexe, Undri, Chinchwad, and on Sinhagad Road.

Answer 3:

To say a big ‘thank you’ to customers, for all the support and trust that they have extended to them during the last 25 years

Answer 4:

To make a ‘good value’ offer ‘great’

Answer 5:

People are shy in asking for something big – they aim for small gifts only

Answer 6:

Along with the "right product at the right price", while purchasing a new flat, customers wish for
. Free car
· Free home furniture
· Free home appliances
· Free two-wheeler
· Free overseas holiday

Answer 7:

The group decided to go that extra mile and see what more the customers require

Answer 8:

To achieve difficult balance in intelligent design, smart planning, efficient buying and effective execution

Answer 9:

To give away the prizes and a bumper prize of a free home

Answer 10:

The bumper prize of getting a free home will be a big attraction for people to get excited to buy a house and take a decision

Answer 11:

Trying their luck at winning

Answer 12:

To tell that whenever you book a flat with them, there is always a chance of a pleasant and a big surprise

Answer 13:

To encourage those who book a flat to enter into an agreement within the specified period

Press Release and Photograph:

Atul Goel, MD, Goel Ganga Group, alongwith actress Mandira Bedi at a press conference held to announce the ‘Good Value Offer Ban Gaya Great Value Offer on 16th June ’09 at Taj Blue Diamond.

PRESS RELEASE 16th June 2009

GOEL GANGA GROUP CELEBRATES 25th ANNIVERSARY BY CONVERTING EXISTING ‘GOOD VALE OFFER’ TO A ‘GREAT VALUE OFFER’

· Launches ‘good value game show’ with fabulous prizes to be won

Mega bumper prize - a free home

Goel Ganga Group was the first construction company in India to launch good value concept for their projects ranging from Rs.18-30 lakhs in August 2008 itself. Since then the company has received overwhelming response to the concept.

After the overwhelming response received to the ‘Good Value’ offer launched by Goel Ganga Group, on their projects ranging from just Rs.18 lakhs to Rs.30 lakhs, the group is now proud to make an even greater offer to its customers, to express their gratitude. This offer will come at no extra cost, but it will positively add value for the customer.

“This is just a small way to say a big ‘thank you’ to our customers, for all the support and trust that they have extended to us during the last 25 years”, smiles Atul Goel, MD, Goel Ganga Group.

It will be recalled that responding to the need of the consumer, the Goel Ganga Group had launched ‘Good Value Homes’ at rock bottom prices in good locations of the city. The four prestigious projects were Amrut Ganga at Sinhagad Road, Ganga Blues in Aundh Annexe, Ganga Sparsh at Undri (near Bishop’s School) and Ganga Ashiyana at Chinchwad (near Aditya Birla Hospital), with 1 bhk, 1½ bhk and 2 bhk flats.
And inspite of the slowdown, the group sold over 40% of these flats.

“This was because we did not compromise on the quality and amenities. Customers vindicated our belief that the ‘right product at the right price’ always has a market”, says Atul Goel. “Our 25 years real estate experience has enabled us to achieve this difficult balance through intelligent design, smart planning, efficient buying and effective execution”.

Inspired by this response, the group decided to go that extra mile and see what more the customers require. As is their tradition, they conducted an opinion poll, inquiring what constitutes a ‘better value’ for them, when they look at purchasing a new flat. The outcome of the poll was :

· Free car
· Free home furniture
· Free home appliances
· Free two-wheeler
· Free overseas holiday

“We were surprised at the response to the poll – people were shy in asking for something big – they were aiming for small gifts only. That’s when we decided not just to make a ‘good value’ ‘better’ for them, but to make it ‘great’. We have planned an exciting and entertaining game show, to give away the above prizes and above all - we would give a bumper prize of a free home as well”, beams Atul Goel.

The game show would be hosted by the charming Mandira Bedi.

Everyone who books a flat at any of the housing projects of the Goel Ganga Group, and enters into an agreement within the specified period, would be eligible to participate in this game show.

The game show is planned with an aim to a create lot of excitement and positive buying behavior in an otherwise slow moving market.

Goel Ganga Group believes the bumper prize of getting a free home will be a big attraction for people to get excited to buy a house and take a decision where they don’t lose anything but are buying at the right price and right location, besides trying their luck at winning a free home.

“The idea behind the game show is to tell our customers that whenever you book a flat with us, there is always a chance of a pleasant and a big surprise”, sums up Kumar Devi, CEO, Goel Ganga Group.

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Wednesday, June 17, 2009

Is this a good time to buy for the first-time home buyers?

"Yes!," says Renu Sud Karnad, joint managing director, HDFC:

Question:

I want to move from my rented flat to my own house. My friend was suggesting I should wait for another few months, as I would get a better deal and the interest rates would be lower too. Please advise if this is a good time to buy.

Renu's answer:

As you rightly said, developers are launching a number of affordable, low-cost housing projects and innovative schemes to bring back confidence and encourage buying.

The cost of buying a house has come down due to a combination of factors, such as drop in property prices, lower specifications and reduction in the average size of units.

Thus, for any new property being built or any new construction, the cost of acquiring the property is down by 30-40%.

Home loan rates have also come down substantially from their peak and are at 2006 levels.

While there is a possibility of a further drop in interest rates by 50-100 basis points (one basis point is one-hundredth of a percentage point) because of huge liquidity and low inflation, there is very little possibility of the rates shooting up in the near future.

We feel developers have already lowered prices and may not be able to bring them down too much from these levels.

Hence, for a first-time home buyer like you, this is a very good time to buy a house. Ask Mint | livemint.com

Buy now but keep on fighting for lower property rates!

You know very well that i am not a builder, a home buyer, or a real estate investor. I am a real estate salesman.

I earn my salary only if you buy a home. Obviously, i will always say, "Buy Now!". However, i will add to it one clause, "Buy now, if you must buy!" I will never forget to add "if you must..." because i am going to get my "commission" only if you complete the deal and take the possession. Commission, and not a salary, is the main income of a real estate salesman.

So, more than a booking, what i am interested is in your regular disbursements till the possession. It means, if you cancel your flat, i am not going to earn anything. Over the years, i have realized that, most of the property buyers who cancel their booking, cancel it not because of the financial reasons but because buying a home was not "must" for them.

When you cancel your booking, I have to spend double energy to sale the same flat again to another customer to recover my losses. This is the main reason, real estate salesman and builder don't consider it as a priority to refund your booking amount. They think you are an irresponcible person who is careless about your personal finances and about your life.

By saying, "Buy now, if you must", i make sure that you are serious about buying home and you are taking well calculated financial decision. Down the line, i see that, both of us are benefited out of your decision.

Though, i don't blog to sale the property and earn any financial rewards from any builder for writing about their project on Ravi Karandeekar' Pune Real Estate Market News Blog, i keep on saying, "Buy now, if you must!" because it has become my nature, not a professional profitable attitude anymore.

When some of my readers insist on property price reduction, i completely agree and support the demand. Not because i hate the builders or subscribe to the idea that they are exploiting property buyers but because i believe that if real estate becomes affordable many more people in urban India can own a home.

Yes, as a real estate salesman it means to me more income opportunity. But i am not only real estate salesman, whether i like it or not, i am citizen of this country, India. India where "Right to Property" is not a fundamental right of the Indian citizen, anymore! It was a fundamental right till 1978, when it was repealed through constitutional amendment act.

Most of the people who talk against builders and property rates are actually angry about not being able to buy a home. They are not actually against the small builder who builds a small township of 100 flats. These people are angry with the big real estate company, the government!

These urban citizens, who fight for affordable homes, may not join extremists to fight "the big real estate company" and target real estate in Mumbai. But the demand to reduce the property rates and make home affordable, i am sure, will create an awareness about "Right to Property", which will restore the dignity of the citizens of India. "Right to Property" can become a fundamental right of Indian citizen, once again!

Someday, who knows, we may see that the human population on this earth may liberate themselves form their respective real estate companies which do nothing but use them to guard their real estates, which are called Mother Lands or Nations. An idea coined and popularized by those who earn power and wealth from it.

Now you know, i am not only a real estate salesman and a citizen but a dreamer too! What about you? Are you ready to fight for affordable homes? Do you believe in "Right to Property" should become your fundamental right once again? Please, share your views in the comments.

Related Stories:

1) Do you fear your builder?

2) Time's Person of the Year: You

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1) May 2009: most popular posts

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6) 20008: most popular posts

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Tuesday, June 16, 2009

Kumar Properties - ready possession 2 bhk and 3 bhk flats in Kharadi, Wadgaon Sheri and Hadapsar

Google Map:
Ready - early possession properties in
Pune real estate market:


View Ready possession, early possession properties in a larger map

Kumar Properties' Homes:

Kumar Properties' plans are always simple. Room sizes are always moderate. Can i say property rates are "reasonable"? ....


Ready Possession 3 bhk flats
1335 sq.ft. Built Up with Terrace
Kumar Primrose - Near Eon Software Park, Kharadi:



1) 1335 with 150 - Rs. 47,69,100 (All inclusive)

2) 1335 with 130 - Rs. 47,37,600 (All inclusive)

All inclusive: Agreement Value + Stamp Duty + Registration + Club

Property rate on saleable area: Rs. 3,000 per sq.ft.

Floor plan - 1st, 3rd, 5th, 7th, 9th:

Kumar Primrose - layout:

Kumar Primrose - elevation:

Contact:

1) Site: Mr. Nasir Khan 91 90110 09248
2) H. O.: 91 20 30583650/ 51/52/53/54 , 26350660
3) Email: sales@kumarworld.com

Ready Possession 2 bhk flats
855 - 881 sq.ft. Built Up with Terrace
Kumar Primavera - Wadgaon Sheri, Kalyani Nagar annexe:

2 bhk - 855 built up with 90 sq.ft. terrace:

2 bhk - 865 built up with 130 sq.ft. terrace:



1) 855 with 90 - Rs. 31,10,600 (All inclusive)

2) 865 with 130 - Rs. 32,05,100 (All inclusive)

3) 868 with 134 - Rs. 32,20,850 (All inclusive)

4) 866 with 138 - Rs. 32,20,850 (All inclusive)

5) 881 with 78 - Rs. 31,73,600 (All inclusive)

6) 866 with 120 - Rs. 31,92,500 (All inclusive)

All inclusive: Agreement Value + Stamp Duty + Registration + Club

Property rate on saleable area: Rs. 3,000 per sq.ft.

Floor plan - A4 building - 3rd, 5th, 7th & 9th:

Kumar Primavera - layout plan:

Kumar Primavera - elevation:

Contact:

1) Site: Ms. Nitu 91 90110 09244
2) H. O.: 91 20 30583650/ 51/52/53/54 , 26350660
3) Email: sales@kumarworld.com

Ready Possession 3 bhk flats -
1175 sq.ft. Built Up with Terrace
Kumar Paradise
Mundhawa, near Magarpatta, Hadapsar:



1) 1175 with 200 - Rs. 47,97,480 (All inclusive)

2) 1175 with 210 - Rs. 48,14,800 (All inclusive)

3) 1175 with 240 - Rs. 48,66,800 (All inclusive)

All inclusive: Agreement Value + Stamp Duty + Registration + Club

Property rate on saleable area: Rs. 3,300 per sq.ft.

Floor plan: B-1: 1st, 3rd, 5th, 9th, 11th:

Kumar Paradise - layout plan:

Kumar Paradise: elevation:

Contact:

1) Site: 91 90110 09246
2) H. O.: 91 20 30583650/ 51/52/53/54 , 26350660
3) Email: sales@kumarworld.com

What's your take on Kumar Properties?

Blogging about ready possession flats is easy. I don't have to say anything but listen. Your comments. Your reviews about the project. Your experience of visiting the ready possession flat. Your profitable decision to invest in one of the above Kumar Properties' projects. Please, share in the comments...I am all ears.

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Feel free to call me:

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Monday, June 15, 2009

Income-tax exemption for interest payment on home loans - limit may be raised to Rs 2.5 lakh a year

A proposal to boost demand and rebuild the slowdown-hit housing industry:

The ministry of housing and urban development has urged finance minister Pranab Mukherjee to make an announcement to this effect as part of his Budget presentation in early July, a government official said on condition of anonymity.

Existing tax exemption limits inadequate to boost housing - focus area of Rahulbaba's government:

At present, taxpayers taking housing loans are eligible for income-tax exemption on interest payment of up to Rs 1.5 lakh every year.

Besides this, the repayment of principal amount is part of investments eligible for benefit under Section 80(C) of the Income-Tax Act, which has a ceiling of Rs 1 lakh.

The existing tax exemption limit is considered inadequate at a time when a two-bedroom house in big cities costs at least Rs 25 lakh.

Considering a person takes a loan of Rs 20 lakh at an interest rate of 9.5%, he would pay Rs 1,88,493 towards interest alone in the first year. His annual interest payment in the first five years would be more than Rs 1.5 lakh.

If the exemption limit is hiked to Rs 2.5 lakh, then a person paying that much home loan interest in a year will save an additional Rs 31,000 in tax every year. This saving of over Rs 2,500 a month would be significant for most borrowers, making home purchases more affordable.

To boost housing, Rahulbaba, start deduction as soon as loan repayment starts!

The housing industry has urged the government to allow for the deduction as soon as loan repayment starts, as it would give substantial relief to home buyers and boost demand.

Are you ready to boost the housing?

Surprisingly, these people don't look happy about getting an opportunity to boost the housing! Rahulbaba would be very disappointed if he reads these comments.

dharminder, Mumbai, says:
The government of aam aadmi is hell bent on rescuing the builders. Instead of forcing the builders to reduce the exorbitant prices it is instead trying to prop it up with artificial incentives. If the govt. cannot force these builders then at least it should let the forces of demand and supply play out in the market.

The news channel already have reported that builders have increased prices by 200-300 sq. ft. What brilliant anticipation or they knew beforehand?

It is a shame we have such corrupt people in our govt. During the last 4-5 years one is getting the distinct impression that govt. is subjugated to builders.
[15 Jun, 2009 1319hrs IST]

BhanuMurty, Hyderabad, says:
YES! YES! The Builders will be happy and the banks will also be happy. NOT THE CUSTOMERS!

The customers still have to pay the exorbitant interest to these banks.A reduction of Rs.2500 per month in the EMI? For how long? How long banks can afford these lower interest rates? One year like SBI promised? What next? The cyclic nature will take its own course of action and whatever falls, will have to rise again. On the pretext of one or the other, these same banks will increase the Rate of Interest. Can you guarantee that they will not????Also see how the interest rates on deposits have been reduced of late.

The solution is not in empowering one sector and diluting another(PPF/NSC Interests). See how clever is the Government. IN total, it has not done anything for the masses. Reduce the interest on safe avenues, get it filled with real estate sector. This is a zero sum game for the Home loanee, as he will benefit from neither.
[15 Jun, 2009 1204hrs IST]

Ram, Chennai, says:
This is of no use to the common man. What the common man needs is drastic reduction in the price of homes. Dear Mr. finance minister, instead of conning the common man like this, pls force the builders to reduce their price.
[15 Jun, 2009 1001hrs IST]

Venkateswar Oruganti, Hyderabad, says:
Govt should mainly give better tax break for Principal re-payed or else banks will extract more from loaners.
[15 Jun, 2009 0904hrs IST]
To read more, please, visit - The Economic Times

I am sure, you are different. You are 100% ready to boost the housing. Aren't you? Please, share your views in the comments.

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Aldea Espanola, Near Balewadi Stadium, Baner Pune, increases property rate by 100 rupees!

Now, property rate for the next 25 bookings:
Rs. 2,795 per sq.ft on Saleable area!


1) 2 bhk flat: Carpet 667 sq.ft: Rs. 29,06,364 + Stamp Duty and Registration

2) 2 bhk flat: Carpet 664 sq.ft.: Rs. 28,88,792 + Stamp Duty and Registration

3) 3 bhk flat: Carpet 870 sq.ft.: Rs. 37,28,505 + Stamp Duty and Registration

4) 3 bhk flat: Carpet 824 sq.ft. :Rs. 35,43,234 + Stamp Duty and Registration

Puraniks have opened the booking of first phase of Aldea Espanola, opposite Hotel Orchid, near Balewadi Stadium, Baner, Pune 411 045.

In this phase, (please click the image to enlarge) there are 4 buildings. Names of these buildings are 1) Sevilla 2) Valencia 3) Orense and 4) Almeria. These buildings have 7 floors. There are 4 flats on each floor. Flat number 1 and 4 are 2 bhk flats. Flat number 2 and 3 are 3 bhk flats.

Sample flat is of 2 bhk. In the sample flat there is no furniture. But sample row house is well furnished. All photographs you see are actual photographs of this row house.

You may wonder how can anyone book a 2 bhk flat of 667 sq.ft. carpet area, by seeing the ground + 2 story row house costing above 1 CR. and furnished with imported Spanish furniture? Yes, it's possible. 25 people have proved it by booking.

But is it fair? It's OK if both parties are happy about it. My dear wife is very happy and proud about getting married to the person, whom she saw for the first time on the cover of GQ magazine.


Related Stories:

1) Aldea Espanola, Near Balewadi Stadium, Baner Pune - quick review!

2) Aldea Espanola, Baner Pune, luxurious Spanish row villas - you must visit this newly launched township in Pune real estate market!

Visiting for the first time?

If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) May 2009: most popular posts

2) April 2009: most popular posts

3) March 2009: most popular posts

4) February 2009: most popular posts

5) January 2009: most popular posts

6) 20008: most popular posts

Feel free to call me:

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

If you like to chat, join me, RaviKarandeekarsBlogs on Google Talk.

Yes, my email id is RaviKarandeekarsBlogs@gmail.com Feel free to write. I reply as soon as i can.

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