Ravi Karandeekar's Pune Real Estate Market News Blog: November 2009

Monday, November 30, 2009

5,000 citizens submit proposals to PMC

The Pune Municipal Corporation's idea to invite suggestions from citizens to be included in the 2010-11 participatory budget has been well received. As many as 5,000 citizens submitted their proposals to improve civic amenities in their locality or solve a problem as against 1,000 suggestions received last year.

While the concept was first coined by the PMC three years ago, lately the scheme has become more organized with application forms being made available on PMC's website with details about how citizens can fill them.

Janwani, an arm of Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA), is assisting the civic body in compiling the suggestions and analyzing them.

While filling the forms, citizens were given options about the kind of work they want to get done, which includes road, cycle-tracks, footpaths, street-lights, bus stands, public parking, public toilets, water, drainage, waste management, gardens, parks and public buildings.

People's suggestions included increase in bus frequency, build public library, creating hawkers' zones, vegetable markets, underground cabling, cement concrete roads, pedestrian crossings, cultural halls, etc. November 9 was the last day to submit suggestions.

"It is a step towards better governance. We are currently in the process of analysing the suggestions so as to find out what kind of works have people proposed and from which area. The ward officers have also been very co-operative in accepting people's proposals," said Kishori Gadre of Janwani.

Gadre pointed out that the ward officers have also kept their budget meetings open for citizens and often explain to citizens why a proposal has been rejected, if it has been.

"Citizens are allowed to give suggestions for works costing up to Rs 5 lakh. However it has been noted that most citizens cannot exactly guage how much their proposal will cost. The ward officers explain if there is shortage of funds. From this year's experience, we are going to make changes in the process so that people get a fair idea of project costs. For instance, we will put up a menu on the form showing that a footpath of so and so length and width costs this much amount," Gadre said.

The Times of India

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PMC drafts new policy to facilitate land acquisition for setting up waste processing plants

Faced with several problems in acquiring land outside the city limits for setting up waste processing plants, the Pune Municipal Corporation (PMC) has come up with a new compensation policy for landowners and those affected by the projects.

The policy, which has been approved by the PMC general body last week, will be sent to the state government for final approval.

Setting up new waste processing units is one of the priorities for the PMC since the Phursungi and Urali villagers have set a December deadline to stop dumping of waste at the land-fill site in their villages.

The PMC was planning to acquire at least four sites for the last six months, but it has not had any breakthrough in any of the cases.

The civic body has gathered that the people refuse to yield their land because they the fear that the area would face problems like those faced by Phursungi. Many attempts to acquire land have not been successful since the residents of the area agitated against such projects.

A senior civic official, however, said that the citizens failed to understand that these sites are not for dumping grounds but for processing plants, which won't be a nuisance.

To read more, please, visit The Times of India

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Chakan MIDC Phase 2 - Displaced farmers to get compensation in 30 days

Promising industrial estate projects:

The district administration has expedited the process of compensation disbursement to farmers who have been affected by the Maharashtra Industrial Development Corporation's (MIDC) Chakan phase II project, located 40 kilometers away from Pune.

Affected farmers will get Rs 40 lakh per hectare as compensation. The total compensation package amounts to Rs 556.56 crore. About 1,391 hectares of land has been notified from six villages and land is being acquired from 4,061 farmers, Pune district collector Chandrakant Dalvi said, adding that Chakan phase II is one of the promising industrial estate projects in the district.

According to the district administration, land will be acquired from Warhale, Bhambuli, Vasuli, Shinde, Khalumbre and Sawardari villages.

To read more, please, visit The Times of India

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Installation of solar water heater is mandatory in all new buildings coming up in Pune - City engineer Prashanth Wagmare

The Pune Municipal Corporation (PMC) has set up an eco-housing cell. The civic body offers a concession of 10-50% on the total premium extended to developers depending on the rating of their projects. As much as 25% rebate will be given, when the building proposal is approved and the remaining after the completion of the project. The PMC also offers a 10% deduction in property tax.

The city has the ideal weather conditions for using solar devices. Currently, about 20 per cent of the houses in Pune are using solar water heating units. This percentage would increase because of the central government incentives, said Ghotikar.

"The solar water heaters are not expensive if we consider their long-term utility. One family has to spend approximately Rs 25,000 for a solar water heater. The central government is promoting the installation of solar water heating systems through a soft loan scheme being operated through the Indian Renewable Energy Development Agency Ltd and banks,'' Ghotikar said.

Soft loans at 2% to domestic users, 3% to institutional users not availing accelerated depreciation and 5% to industrial/commercial users availing depreciation are available.

To read more, please, visit More homes opt for solar energy

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Residents of Warje staged a rasta roko on Friday demanding that a public toilet facility be made available to them

"Warje village became part of the Pune Municipal Corporation (PMC) around 12 years ago, but hardly anything has been done to solve its issues," said Baba Khan, president of the Warje traders association.

The area gives revenue of around Rs 23 crore to the corporation. Still we are deprived of the basic amenities. It is very sad. For this reason we held this agitation. We also demand installations of traffic signals and benches," said K D Pawar, who took part in the agitation.

Around 300 people participated in the agitation which took place at 11 am. It was called off after PMC officials promised that something would be done to solve the problem.

To read more, please, visit The Times of India

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Pune, Khadki cantonments eligible for JNNURM funds

Pune and Khadki are among 28 cantonments in the country eligible to get funds under the Union government's Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme, for implementing developmental projects.

S C Kaushik, chief executive officer, Khadki Cantonment Board (KCB) said that slum rehabilitation, development of roads and other developmental projects can be implemented under the JNNURM scheme.

Sources said that the Southern Command had sent letters in the second week of November to cantonments informing them that cantonment boards under the Cantonment Act 2006 should be deemed as a municipal corporation and should get the benefits of Union government schemes meant for social welfare, public health, hygiene, safety, water supply and urban renewal. The cantonment boards have been instructed to get in touch with the divisional commissioner/collector in this regard.

To read more, please, visit The Times of India

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Citizens should act against corruption

Vigilance Week 2009:

The wealth amassed by corporators and politicians, problems related to electricity bills, the MSEB and the Pune Municipal Corporation, and land ownership issues were some of the topics on which citizens raised valid questions at the anti-corruption seminar organised by the Pune chapter of the Public Concern for Governance Trust (PCGT) at Sancheti hospital on Saturday.

The PCGT is planning another seminar on fighting corruption, that will be based on the problems of the common man. "We have also planned clinics' or interactive sessions with people from different sections of society to hear and redress their grievances. After two months, we will come up with a report on these events," said B G Deshmukh, chairman of PCGT.

To read more, please, visit The Times of India

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Saturday, November 28, 2009

Dubai brings down world

Dubai World — the conglomerate that spearheaded the emirate’s breakneck growth — announced a proposal to delay paying back loans worth $59 billion (Rs 276,000 crore), investors read it as a sign of yet another implosion after Iceland and Ireland.

This is almost three-fourths of the country’s total $80 billion (Rs 374,000 crore) debt.

While India’s stock markets remained relatively less affected, the medium-term impact — if Dubai World’s proposal is rejected — would be a crash of the country’s real estate, leading to job losses for Indians there.

A million Indians — a third of Dubai’s population — work there. Most are employed in the speculator-led boom in real estate and construction that according to Realty-Network Association began in 2001, following a rise in public spending on infrastructure and housing.

Of the $52 billion (Rs 243,000 crore) of inward remittances Indians working abroad send their families in India, 10-12 per cent is estimated to originate in Dubai, according to research firm CLSA.

Most of these go to Kerala, Maharashtra, Gujarat and Punjab, according to a senior official in a large public sector bank.

To read more, please, visit Hindustan Times

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Friday, November 27, 2009

Garbage dump deadline draws near, no alternative plan in sight

Pune city is staring at a major problem as the December 15 deadline for stopping garbage dumping in Uruli Devachi draws near with no alternative location in place.

As a temporary measure, the civic administration is now busy exploring the possibility of using land in each of the 14 wards in the city for waste management.

The government has summoned the civic officials on Friday to discuss the issue. “We are aware of the deadline and are working on a solution,” said Municipal Commissioner Mahesh Zagade.

According to civic officials, the PMC has not been able to find a solution. The process of identifying landfill sites at four places in the district is on. The district administration suggested sites for dumping, but they belong to forest department. “It will be almost impossible to get an approval from the Union environment ministry for developing the forest land for dumping,” sources said.

“We have been able to identify 10 locations at the ward-level for garbage processing using bio-gas plants. Two plants have started functioning but there is opposition from citizens against biogas plants coming up in residential localities,” he said.

Even the efforts to process waste in the PMC-owned gardens is facing opposition, Jagtap said. Meanwhile, the villagers of Uruli Devachi are in no mood to accept any more excuse by the civic body. “We called off the agitation in May after the civic body sought seven months to resolve the issue. However, the assurances have not been fulfilled,” said Dilip Mehta, member of Kachra Depot Hatao Sangharsha Samiti.

To read more, please, visit Express India

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Thursday, November 26, 2009

Celestial City Ravet, 25 acres township of 1 BHK, 2 BHK & 3 BHK Flats, opens booking of 1st phase

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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Increase in prices sours revival in demand for real estate

Any resurgence would be hit harder by prices rising excessively, than by loan costs

The much-heralded revival in home-building could come to nothing as property developers may have raised prices too much too soon, data from realty research company Liases Foras shows.

The country’s largest mortgage lender has a word of caution for real estate companies looking to cash in on the increase in demand.

Liases Foras founder and managing director Pankaj Kapoor says builders have raised prices to push up their valuations in the run-up to raising money.

“Developers have to be careful about prices, otherwise they will erode the long-term benefits for short-term gains,” said Renu Sud Karnad, joint managing director of Housing Development Finance Corp. Ltd (HDFC).

Any resurgence would be hit harder by prices rising excessively, than by loan costs.

“The effects of higher prices are more on demand than higher interest rates,” Karnad said at the launch of the Liases Foras Real Estate Sensitive Index.

To read more, please, visit livemint.com

Liases Foras launches RESSEX

Realty research firm Liases Foras launched its Real Estate Sensitivity Index – RESSEX,( www.ressex.com ) that will provide structured data and property analysis on the country's real estate market. To read more, please, visit Ravi Karandeekar's Pune Real Estate Investment Blog

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Wednesday, November 25, 2009

Amnesty scheme to legalise constructions

In the wake of the civic administration failing to regularize rampant constructions in the 23 merged villages, the Pune Municipal Corporation (PMC) on Tuesday announced it would soon launch an amnesty scheme to legalize these constructions

Congress corporator Dattatray Sasane raised the issue of civic administration serving notices to buildings that were constructed without the civic administration permission in the 23 merged villages. He said there were large number of such structures in the village and they needed to be regularized as their demolition would make many people homeless.

"There was poor response in the past to the amnesty scheme to regularise structures in these villages. However, the scheme would be again launched," City engineer Prashant Waghmare said, adding, there will be simplification of the procedure so that citizens take benefit from it.

To read more, please, visit Indian Express

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Soon, a land bank for housing

Under Maharashtra government's flagship programme of providing 10 lakh houses in five years, it is creating a land bank of 2,000 hectares in the state. Of this, nearly 100 hectares will be in Pune

"Although it will be a daunting task, we will have to make land available. A part of the land from the MIDC along with the land under the Urban Land Ceiling Act will be earmarked for housing. In Nagpur, the government has already allocated 350 hectares and similar allotment has been done for all metros," an official said.

The houses will be about 500 sq ft or below and will be made available to lower and middle classes in particular through MHADA. The government proposes to develop the houses with the help of private sector.

"They would be given 10-20 per cent of the developed land just as it is done for SEZ." The government had recently announced 2.5 FSI for MHADA schemes.

To read more, please, visit Indian Express

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Wonder Futura, Kothrud, flat owners still an unhappy lot

Even as the pending work of phase I and II of Wonder Futura in Kothrud has picked up pace, flat owners feel that the problem of heavy leakage that poses a threat to the construction work is not being addressed

Around 200 flat owners of the residential project held an agitation two months back protesting incomplete construction and delay in getting ownership of flats. 26 consumer complaints in this regard have been lodged with the Pune District Consumer Forum.

"There are heavy leakages in all four buildings in Phase-I that has weaken the structure. While it is being brought to the notice of the builder, there is not much action seen," said Sham Vasu, one of the flat owners in Phase-I. The recent rains have worsened the condition, he added.

Another major concern of the flat owners is Pune Municipal Corporation (PMC) water supply.

"There are no signs of getting PMC water supply and we are currently managing with tankers. We are afraid the situation will worsen in summer," said Nikhil Roy, a flat owner in phase-II of the project.

While the builder is in continuous dialogue with the PMC officials, BJP corporator Shyam Deshpande said that it will take another month for PMC to provide water supply connections to both the phases.

Meanwhile, Bharati Developers who launched the project have agreed to complete the backlog and hand over the flats by January 14.

Wonder Futura project that was launched in 2003 was publicized as Pune's first intelligent home with digital access, monitoring the visitor, auto on/off - electrical appliances and gas apart from amenities like swimming pool, club house, senior citizen's park, children play - area and so on. The possession , of all the 240 flats was promised - in June 2007; however, flat owners are yet to receive the legal possession documents.

Kothrud flat owners still an unhappy lot

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Property buyers should not take possession of the properties which have not been issued completion certificates by the PMC - Municipal Commissioner

"A completion certificate means the project is safe for living"

Elected members of the Pune Municipal Corporation (PMC) on Tuesday alleged in the general body meeting that many city builders are handing over flats to buyers without obtaining the mandatory completion certificate from the civic body.

Demanding strict action against such erring developers, some of the corporators suggested that the PMC must issue 'stop work' orders against their ongoing projects.

Nationalist Congress Party (NCP) leader Anil Bhosale said that flat owners are being compelled to pay taxes from their pockets for no fault of theirs.

To read more, please, visit DNA E-Paper

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Corporators allege corruption in the Slum Rehabilitation Scheme

"Slum Rehabilitation Scheme (SRA) is working in the interest of some developers and not the slum dwellers," Shiv Sena leader Shyam Deshpande

Elected members on Tuesday made serious allegations of corruption in the Slum Rehabilitation Scheme (SRA) within the Pune municipal limits.

They said the scheme is being implemented on plots, where there is no slum.

Municipal commissioner Mahesh Zagade promised the general body that he would personally inquire into the scheme. Special attention would be paid to cases, where elected members have made the allegations.

Zagade said the state government has started the scheme for providing better homes to the poor under the private public partnership (PPP) model. Around 42% population in the city is living in the slums and will get the benefit.

Shiv Sena leader Shyam Deshpande said the administration has granted the nine Floor Space Index (FSI) for a scheme in the city. He said the SRA is working in the interest of some developers and not the slum dwellers.

To read more, please, visit DNA E-Paper

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Tuesday, November 24, 2009

53,000 residential units will be added in Pune real estate market by 2011 - Knight Frank survey

As per the latest Knight Frank Residential Report released on November 23, Pune would see an infusion of approximately 53,176 units, an addition of around 54.27 million sq feet, in the new residential space.

"In Pune, 2010 will witness the maximum infusion accounting for around 44% of the total supply. This can be attributed to the fact most of the under construction projects which were delayed have again started," said Gulam Zia, national director (Research & Advisory Services) Knight Frank India.

The study has divided Pune residential market in five zones:
1) The north and north- western zone,
2) the west and south-western zone,
3) the south and south-eastern zone,
4) the east and north-eastern zone and
5) the central zone.

The highest growth would be in the north and north western zone comprising areas such as Aundh, Baner, Wakad and areas along the expressway, which would see an addition of 22.5 million sq ft by 2011 amounting to over 20, 307 units.

The west and south western zone comprising Kothrud, Karvenagar, Sinhagad Road and Dhayari is expected to see over 8,400 units being added by next three years adding up to 8.5 million sq ft.

In the south and south eastern part with places like Wanavdi, Kondhwa, NIBM Road and Katraj, there would be around 9,057 units adding 5.85 million sq ft.

In Hadapsar and Manjri areas in the east and north-east, an addition of 90 mil sq ft will be made.

The central areas such as Deccan, Model Colony, Senapati Bapat Road , Shivajinagar, Boat Club Road, Bund Garden, Swargate and city areas would see approximately 0.5 milllion sq ft and 321 residential units.

To read more, please, visit DNA E-Paper

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Monday, November 23, 2009

Slum life is a reluctant tryst with suffering

The life in the slums is an unwilling compromise with all suffering.
The breath one has to take is at the mercy of slumlords, policemen, politicians.
Child welfare and child labor laws have no relevance here, survival is the only objectives.
And don't ever think of human right violations.
Compromises don't let natural sensitivities survive.
From childhood, any trade that fetches a piece of bread is salvation.
Respectability comes only through crime.
To be a girl in the slums and defend modesty is a Herculean task.
Slums, established and growing on encroached public and private lands, sustain everything that is illegal, and immoral.
Misfortune is their birthday gift.
Slum-dwellers are always at the receiving end, never protected.
They have to live all their life in hell.
No suicides can lure them.
Education, even if made available, has no takers in the struggle for survival.
Health is god-given.
They all wish to do well, and by any means.
Destiny plays games with them, often cruel.
They opt for short cuts to prosperity but are often undone by a bolt from blue.
Slums are true secular habitations. No religious impediments, no social barriers, all are equal.
They don't seek Oscars, only a healing touch, warmth of hospitality, a pat on the back, a little trust to empower them. World is ready with Oscars, not affection.
Slums are open universities, complete with thorough practical knowledge.
They teach one how to negotiate misfortune with dishonestly.
They have only life time courses, graduates pass out at sunset.

Yamini Ajaykumar, Pune
Letters to the Editor, Sakaal Times

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Sunday, November 22, 2009

Proposal about City Center -
Business Center on the land reserved for a Regional Science Centre in Chinchwad
-kept pending

The general body meeting of the Pimpri Chinchwad Municipal Corporation (PCMC) on Friday remained undecided on the administration's proposal to give powers to the municipal commissioner to negotiate with developers to construct a city center at Chinchwad. Instead, it demanded more details regarding the project.

The PCMC has plans to construct a city/business center on a public private partnership (PPP) basis on the land reserved for a Regional Science Centre in Chinchwad.

The state government has approved the change in reservation.

Land measuring 1,37,039.46 sq m is reserved for the city centre and 30,000 sq m is reserved for the Regional Science Center.

To read more, please, visit The Times of India

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Saturday, November 21, 2009

Park Titanium at Wakad Pune, 3 BHK & 4 BHK luxurious condominiums in Park Street, launched!

So, it was all about Pride Purple Group's new residential project of 3 BHK Flats - 1950 sq.ft. onwards - and 4 BHK Flats - 2575 sq.ft. onwards - in Wakad, Pune!

Day before Yesterday, Thursday, 19th November 2009, Page 3, Times of India:

Yesterday, Friday, 20th November 2009, Page 3, Times of India:

Today, Saturday, 21st November 2009, Page 3, Times of India:

Rs. 3,750 per sq.ft. : Property rate of Park Titanium, Park Street, Aundh Chest Hospital Road, Near Kalewadi Phata, Pune 411 057:

I called the phone number give in the ad.
Girish, took my call.
He said the special introductory property rate of Park Titanium is only Rs. 3, 750 per sq.ft.
Saleable area of a 3 BHK Flat is 1,950 sq. ft. and above.
Total property price of a 3 BHK Flat is Rs. 80 lakhs onwards.
4BHK Flats have saleable areas 2,575 sq.ft. onwards and property prices are above Rs. 1 crore.
For floor plans, specifications and amenities of Park Titanium, Girish told me to visit the website of Pride Purple Group www.pridepurplegroup.com
What about you? Did you call the telephone number for an appointment?
If you have visited the sample flat, please, share your views in the comments.
Yes, of course, i have visited the sample flat!

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Kolhapur Real Estate News

Vilas Javdekar (of Palash at Wakad Pune) opens bookings of 3 BHK Hi-Tech Digital Twin-Bungalows in Yashwant at New Tarabai Park, Kolhapur

Can you think of owning a 3 BHK Bungalow in 50 -60 lakhs in Pune real estate market?

I am very much tempted to invest in Kolhapur. What about you?

Now, this is too much! My old friend Madhav Gole, general manager of Vilas Javdekar Eco Homes tried his best to convince me to invest in Yashwant at New Tarabai Park at Kolhapur. He even sent me these images of his sample flat:

Since, Madhav is a very senior real estate professional and my good friend, i went and studied Kolhapur real estate market. However, my wife didn't approve of the idea of investing in a 1 BHK or a 2 BHK Flat in Kolhapur. She said, "If in Kolhapur, we should invest only in a bungalow! Can we ever think of owning a bungalow in Pune?"

And today, Yashwant opened the bookings of 3 BHK Twin Bungalows. A bungalow in the range of Rs. 50 -60 lakhs is too good to be true. I am very much tempted to invest in Kolhapur real estate. What about you?

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Thursday, November 19, 2009

Power shutdown from 10 am to 5 pm on 19 Nov 09, in Kothrud, Shivajinagar, Bhusari, Padmavati, Rasta Peth, Nagar Road & Bund Garden divisions of MSEDCL

The MSEDCL had postponed some of the repair works scheduled on November 12 to prevent inconvenience to people who suffered major power failures on November 11 due to heavy rains. These pending works will also be completed today.

Contact toll free call centre number 18002333435 or mobile numbers 9960677021 to 025 for more information.

To read more, please, visit The Times of India

Wednesday, November 18, 2009

InSignia_Pune News - How come some 2 BHK Flats in the 2nd Group Hosing Project at Sus are still available for booking?

Is it because some of us find it difficult to believe in ourselves?

When i saw the latest list of members of 2nd Group Housing Project of InSignia_Pune, housing group of IT professionals working in Hinjewadi Pune, i was shocked.

In the 2nd Group Housing Project of InSignia_Pune, all 4 BHK Row Houses ( Town Houses) are booked, means applied for. Only couple of 3 BHK Row Houses are available which may go at any point of time. For 3 BHK Flats, response is satisfactory. But how come all 2 BHK Flats are not booked by this time? Considering the current trends in Pune real estate market, i thought, not a single 2 BHK Flat should have been available for booking by now!

"This is not right. I am over expecting, I should be more realistic. I should see the positive s and be less critical," I told myself. Yes, actually, the response for the second project is much better than the first project. In just 1 month more than 50% project is already booked!

I should remember that the property rates of InSignia_Pune Group's 2nd housing project, budget of a 2 BHK Flat and floor plans are not yet finalized. Considering the tight budgets of the first time home buyers, it sounds reasonable if they decide to book only after these details are finalized, i convinced myself.

Then came Pune Expo 09 and The Times Property Show. Away from the site office, in comparatively relaxed mood, i could chat with many real estate salespersons. Like typical salespersons working in any field, we started gossiping about our past and present bosses, means Pune builders, and then went on bitching about our customers, over smart property buyers from Hinjewadi.

However, the conversation became serious when someone opened the topic of pay scale, incentives and commission in Pune real estate market. Certainly, prospects are very dull. New projects are not coming. Availability of flats is less. Property prices have increased more than in the days of real estate boom in Pune. Low budget projects have failed to speed up.

Most important, first time home buyers market which creates job opportunities for the real estate salespersons is shrinking. Today, if you want to buy a 2 BHK flat in Aundh annex, or in any popular location in Pune real estate market, your budget must be above 35 lakhs. When we crosschecked the list of upcoming projects, all were above 50 lakhs which made my friends more nervous.

This conversation motivated me to post the blog on the property rates and budgets of 2 BHK Flats in Pune real estate market. While compiling the data, i was wondering about the availability of 2 BHK Flats in InSignia_Pune Group's 2nd project.

Not only 850 members of InSignia_Pune Group but every IT professional in Hinjewadi, i am sure, knows that, today, only in this project you can get a 2 BHK Flat in less than 30 lakhs. Then, i was wondering, why aren't all 2 BHK Flats booked?

Is it because it's easy to believe someone else, even a small time builder or his fly by night broker, than yourself? What do you think? Why some IT professionals are taking so much time to book their 2 BHK Flat in InSignia_Pune Group's 2nd housing project at Sus? Please, share your views in the comment. Comments Policy

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Stamp duty hike to hurt realty

A registration fee of 1% of the market value means a hike in stamp duty from 5% to 6%

Revenue minister Narayan Rane's decision to lift the stay and levy a registration fee of 1% of the market value on all documents will once again clamp down the city's property market that had grudgingly begun raising its head, builders and property experts said. The decision, which is yet to get the formal nod of the state cabinet, will effectively mean a hike in stamp duty from 5% to 6%, they added.

Consumer activists too slammed the government. Stating that the fee was not a tax, but an amount charged for preserving documents, they asked the government not to think of registration fee as a means of collecting revenue.

To read more, please, visit DNA

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Now, you have to pay flat 1 % registration charges!

Narayan Rane lifts the stay and cancels the maximum cap of Rs30,000

This means that if the ready-reckoner value of a property according to the government is Rs1 crore, the registration fee to be paid will now be Rs1 lakh
(it earlier stood at Rs30,000)

Lifting a stay on its own order barely a week after the new Democratic Front government took charge in the state, the state revenue department on Monday decided to levy a flat 1% charge on property registrations with immediate effect; until now the fee had been capped at Rs30,000.

The decision on the 1% property registration fee was taken by then revenue minister Patangrao Kadam early this year. After it drew harsh reactions, the order was stayed ahead of the Lok Sabha elections.

After taking over as revenue minister in the new state cabinet, Narayan Rane lifted the stay and cancelled the maximum cap of Rs30,000 for the registration fee on Monday.

Want to know what Narayan Rane did on Tuesday? Click the image!:

This would earn the state exchequer Rs250 crore.

To read more, please, visit Now, flat 1% to register property-DNA

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Streamline the process of approving the transfer of development rights (TDR) proposals

At Pune Municipal Corporation no work is done on the files related to the Transfer of Development Rights (TDR) without the help of agents

TDR rates are rising:

The Pune Municipal Corporation standing committee members ordered the civic administration to streamline the process of approving the transfer of development rights (TDR) proposals.

The members pointed out that the TDR rates are rising steadily due to restriction of TDR supply in the market.

In response, municipal commissioner Mahesh Zagade promised that an independent cell will be set up to look into the TDR issues.

Because of the TDR rates property prices are rising in Pune real estate market:

Standing committee member Anil Bhosale told the media: “On the one hand the state government is trying to make housing affordable, but on the other hand the TDR rates are going so high that the property prices are rising in Pune.”

Nexus between officers and particular builders:

“We also brought up the issue of officials remaining in the same department for years together. They develop special interests and TDR files of only ‘particular people’ get pushed ahead, while those of ordinary individuals lie pending. Such officials must be transferred,” Bhosale said. TNN

TDR Agents:

The elected members of the Pune Municipal Corporation (PMC) have flayed the civic administration. They alleged that no work is done on the files related to the Transfer of Development Rights (TDR) without the help of agents.

The members made the allegations in the standing committee meeting on Tuesday. NCP leader in PMC Anil Bhosale said some civic officials have joined hands with some developers and are doing their work related to TDR while commoners' TDR files are not even touched.
DNA

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Monday, November 16, 2009

Property rates and budgets of 2 bhk flats in Pune real estate market

What do you do when you realize that the builder is trying to hide from you exactly how much space you are going to get?

1) Amanora Park Town - Trendy Homes - Tower 30 -35:

653 Carpet: Rs. 29,40,400 total cost up to 4th floor with an External View:

Including: Car parking + Maintenance Payable at Once + Infrastructure Charges for 1 year
Excluding: Stamp Duty, Registration Charges and Electrical Charges Rs. 80,000

2) Amanora Park Town - Tower 1 - 10:

1,006 Carpet: Rs. 60,42,340 total cost up to 4th floor:

Including: Car parking + Electrical Charges + Stamp Duty + Maintenance Payable at Once + Infrastructure charges for 1 year

Including: wardrobe + bed + television + refrigerator + air conditioner + washing machine + computer + kitchen system with chimney + water purifier + geysers in all bathrooms + light and fan fittings in all rooms

www.amanora.com

3) Megapolis Hinjewadi Phase 3:

Carpet area not published: Rs. 40,86,000 total charges for 1st to 11th floors in D building
Including: Infrastructure charges + other charges + Stamp Duty + Registration charges

www.megapolis.co.in

Kumar Properties' Projects:

Carpet area not published: total cost including: MSEB + other charges + Stamp Duty + Registration charges + Legal charges + Club charges

www.kumarworld.com

4) Kumar Palms, Kondhwa: Rs. 34,02,050 - 34,61,900

5) Kumar Palmgrove, Kondhwa: Rs. 35,51,350 - 37,30,350

6) Kumar Gulmohar, Salunkhe Vihar: Rs. 53,83,250

7) Kumar Prithvi, Market Yard Annex: Rs. 37,99,450 - 39,20,700

8) Kumar Periwinkle, Chandan Nagar: Rs. 33,42,550 - 34,94,800

9) Kumar Princetown, Undri: Rs. 45,99,000 - 47,77,000

10) Kumar Papillon, Susroad: Rs. 36,37,600 - 37,00,600

11) Park Infinia, Fursungi: Rs. 28,63,000

12) Kumar Picaso, Hadapsar: Rs. 44,11,800

13) Karishma, Karve Road: Rs. 88,22,100 - 88,61,500

Belvalkar Housing:

14) Solacia, Wagholi: F Type:
685 Carpet (approx) + Terrace: Rs. 20,26,850
Including: MSEB + Formation charges + Stamp duty + Registration + Legal charges
Extra: Open Parking (optional) + Club House charges (optional) + Advance maintenance for 2 years

15) Solacia, Wagholi: D Type:
Carpet area not published: Rs. 26,22,380
Including: MSEB + Formation charges + Club House charges + Stamp duty + Registration + Legal charges
Extra: Open Parking (optional) + Advance maintenance for 2 years

www.visitsolacia.com

16) Chaitrangan Phase 2, Bibvewadi - Katraj Road:
604 Carpet + Terrace: Rs. 26,80,908
including: MSEB + Maintenance Deposit Open Parking + Stamp duty + Registration charges + Legal charges

www.belvalkarhousing.com

17) Savannah, Wagholi: I & K wing:
Carpet 640 (approx) + Terrace: Rs. 19,86,600
Including: Infrastructure charges + MSEB + Stamp duty + Registration charges + Maintenance charges for 1 year

www.savannah-pune.com

B U Bhandari Landmarks:

18) Unity Park, Kondhwa:
Carpet 770 (approx): Rs. 27,13,950
Including:MSEB + Legal charges + Society formation + Other charges + Stamp duty + Registration charges
Extra: Maintenance at the time of possession

19) Ekta Residency, Kondhwa:
Carpet area not published: Rs. 21,75,380

20) Kaasp Countyy, Wakad:
Carpet area not published: Rs. 27,22,000

www.bubhandarilandmarks.com

Saarrthi Group:

21) Saarrthi Shilp, Kothrud:
659 Carpet + Terrace: Rs. 42,70,429
Including: Parking + MSEB + Legal charges + Society formation + Stamp duty + Registration charges + Maintenance charges for 2 years

22) Saarrthi Satin Hills, Bavdhan:
Carpet area 665 - 754 + Terrace: Rs. 34,13,842 - 39,90,376
Including: Covered car park + MSEB + Legal charges + Society formation + Stamp duty + Registration charges + Club development charges + Maintenance charges for 2 years

www.saarrthigroup.com

Atul Enterprises:

23) Alcove, Pimple Saudagar, Aundh annex: Phase 2: Building B
Carpet area not published: Rs. 34,26,592 - 35,41,100
Including: Car parking + MSEB + Society formation + Stamp duty + Legal charges + Maintenance for 2 years

www.atulenterprises.com (Under construction!)

Om Developers:

24) The Island, Wakad Pune:
Carpet area not published: Rs. 35,95,990 - 39,63,623
Including: Covered car parking + Club + Legal charges + MSEB + Society charges + Stamp duty + Registration charges + 3 years advance maintenance

25) Vista Residency, Baner:
Carpet area not published: Rs. 32,59,585 - 33,53,980
Including: Parking + MSEB + Society + Stamp duty + Registration charges

26) Angel Hills, Phase 2, Talegaon:

1) Garden flat: 546 Carpet + Garden: Rs. 16,49,304 - 17,43,678

2) 609.63 Carpet : Rs. 15,58,782
Including: Covered car park + MSEB + Society + Legal + Stamp duty + Registration
Extra: Advance Maintenance charges for 2 years

www.omdevelopers.com

Manav Promoters:

27) Silver Skyscapes, Wakad Pune: C Building - Odd floors - August 2010:
Carpet are not published: Rs. 33,00,600

Silver Skyscapes, Wakad, B building - Odd floors - July 2011:
Carpet area not published: Rs. 33,16,000 - 33,32,800

Silver Skyscapes, Wakad, B building - Even floors - July 2011:
Carpet area not published: Rs. 32,48,800 - 34,19,600
Including: Infrastructure & development + MSEB + Legal charges
Extra: Stamp duty, Registration, Maintenance charges + Rs. 25 per floor, Floor Rise above 5th

www.manavpromoters.com

Sonigara Homes:

28) Sonigara Kesar, Phase 2, Wakad Pune:
Carpet area not published: Rs. 37,17,210 - 37,20,160
Including: MSEB + Other charges + Stamp duty + Registration charges + Handling charges
Extra: Advance maintenance Rs.75 per sq.ft. at the time of possession

29) Sonigara Aangan, Ravet:
Carpet area not published: Rs. 25,46,400 - 26,55,050
Including:Stamp duty + Registration + Other charges + Parking
Extra: Advance maintenance at the time of possession Rs. 10 per sq.ft.

www.sonigarahomes.com

Pride Purple Group:

30) Topaz Park in Park Street, Wakad Pune:
Non Garden - Carpet area not published: Rs. 36,92,166

Garden Facing - Carpet area not published: Rs. 38,57,856
Including: Infrastructure charges + Stamp duty + Registration + Legal charges + Advance maintenance for 2 years

www.parkstreetpune.com

Park Royale, Rahatani:

Non-Garden Facing- Up to 3rd Floor - Carpet area 856 + Terrace + Dry balcony: Rs. 41,76,028

Garden Facing- Up to 3rd Floor - Carpet area 856 + Terrace + Dry balcony: Rs 43,62,728
Including: Infrastructure charges + Stamp duty + Registration + Advance maintenance for 2 years

www.pridepurplegroup.com

Park Xpress, Balewadi:

Garden Facing - 662 Carpet area + Terrace + Dry balcony: Rs. 37,39,980
Including: Other charges + Stamp duty + Registration charges + Advance maintenance for 2 years

www.parkxpress.com

Cut the crap! Tell me the carpet area of my flat:

What do you do when you find out that the builder has increased the saleable area by increasing the loading from 25 % to 35 % ?

What do you do when you find out that instead of 50% the builder has charged 100 % for terrace?

What do you do when you find out that the builder has removed the carpet area of the flat from the brochure and from the website?

What do you do when you realize that the builder is trying to hide from you exactly how much space you are going to get?

Do you say, "Mr. Builder, Cut the crap! Tell me the carpet area of my flat."

When once i asked for the carpet area, you know what answer i got?

"Do you want to know the carpet area form "brick to brick" or from "plaster to plaster"?"

What is your experience?

Do you still calculate the property rates on the saleable area or have you started considering Property Rate = All Inclusive Total Cost / Carpet Area ? Please, share your views in the comments. Comments Policy

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Nandan Inspera, 2 BHK Flats at Wakad Pune - an interesting pre-launch offer for the first 50 bookings!

Hot Pune Real Estate Market News:

Nandan Inspera's pre-launch offer was the only attraction of The Times Property Showcase at Le Meridien, Pune. If you add the news story of the same offer published in Marathi newspaper Sakal, you can say that Nandan Inspera was the hot Pune real estate market news of this weekend.

When i saw the crowd at Nandan's stall in Le Meridien, patiently waiting to get the information, I didn't bother the salesperson and just collected the brochure of Nandan Inspera. Of course, i called the mobile number 91 95525 03815 given in the brochure but i received the sms "I'll call you later"! So, i can't tell you more than what is there in the brochure.

The brochure of Nandan Inspera, 2 BHK luxurious apartments at Wakad, says that:

We are presenting Nandan Inspera with a very unique, perhaps the first of it's kind feature in Pune. The first 50 customers of this project will get a rare opportunity to design the layout of their apartment according to their needs and preferences. Besides, their opinions will be given the highest importance while deciding on the project amenities for Inspera. Our architects will provide all the necessary assistance to them in this task.

I know that this offer is not at all unique nor "first of it's kind" in Pune. Yet for 2 reasons, i find Nandan Inspera's offer interesting. First, after a long time, you will agree with me that some project in Wakad is launched focusing on the features of planning. Other wise, recent launches were based on the property price or budget. For example, you know, Rama Group's Costa Rica was launched at an attractive property rate of Rs, 2,300 per sq.ft. for the first 50 bookings and budget of the flat, 2 for 22, was the selling point of the second phase of Mont Vert Seville at Wakad.

Second reason, it proves that when the builder offers value for money he can launch the project without the help of H R Departments of IT companies in Hinjewadi! You know that i am referring to the pre-launch offer of the project in Balewadi where against the "prasad" of Rs. XX per sq.ft. the smart axx builder got first 50 Free Gifts from the Gods of Hinjewadi!

The brochure invites you to visit the sample flat of Nandan Prospera at Baner Road to get the idea of the unquestionable construction quality and uncompromising work standards of Nandan Buildcon, the promoters of Nandan Inspera, four side open luxurious 2 bhk apartments at Wakad in Pune.

Monday, November 9, 2009
October 2009 - Top 10 popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

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Saturday, November 14, 2009

Times Property Showcase begins today

The Times Property Showcase begins on Saturday at Le Meridien, Pune. This is the winter edition of Pune’s most prestigious and successful property exhibition conceptualised with an aim of providing visitors the maximum value at unbeatable prices.

Select projects spread over the entire city suiting the needs of today’s discerning home-buyers and investors will be showcased at the exhibition. With more than 60 top builders and around 400 projects on display, visitors will have a wide range of properties to select from and can expect to get the best deals.

Entry to the exhibition is free and the timings are from 10.30 am to 7.00 pm on November 14 and 15. TNN

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Ajit Pawar seeks survey charting equitable water distribution in Pune

State minister for water resources Ajit Pawar on Friday said that the city's water needs could be fulfilled with 7.5 TMC (thousand million cubic feet) water.

He has instructed elected members and officials of the Pune Municipal Corporation to carry out a detailed survey of the city for equitable water distribution.

Pawar later told media persons that he has asked the officials and the elected representatives to identify an agency within a week to conduct a survey on the current water distribution in the city.

Leaders from all political parties in the civic body along with the mayor agreed that there was no equitable distribution of water in the city. "I was told by the irrigation department officials that 12 to 13 TMC of water is supplied to the city while the civic officials said the city receives around 11 to 12 TMC water. Considering that each Puneite gets 150 litres of water every day, 7.5 TMC water should be sufficient taking into account the present population of the city," he said. Read More: DNA

Monday, November 30, 2009

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Vigilance Week 2009:

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Saturday, November 28, 2009

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Friday, November 27, 2009

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Thursday, November 26, 2009

Everything is inside. Even terrace!

Are you a builder or a terrorist?

Dance Bar Properties in Pune:

"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?"

"Only Terrace is "Inside"! Yes, i can see it completely considered inside the carpet area! What about the rest?"

"Look at the complete picture! Celestial City is an "integrated township" in 4 parts!"

"What about my second honeymoon? Are you planning to complete the construction of all proposed 4 parts of Celestial City by that time?"

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Wednesday, November 25, 2009

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Tuesday, November 24, 2009

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Sunday, November 22, 2009

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Saturday, November 21, 2009

So, it was all about Pride Purple Group's new residential project of 3 BHK Flats - 1950 sq.ft. onwards - and 4 BHK Flats - 2575 sq.ft. onwards - in Wakad, Pune!

Day before Yesterday, Thursday, 19th November 2009, Page 3, Times of India:

Yesterday, Friday, 20th November 2009, Page 3, Times of India:

Today, Saturday, 21st November 2009, Page 3, Times of India:

Rs. 3,750 per sq.ft. : Property rate of Park Titanium, Park Street, Aundh Chest Hospital Road, Near Kalewadi Phata, Pune 411 057:

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Vilas Javdekar (of Palash at Wakad Pune) opens bookings of 3 BHK Hi-Tech Digital Twin-Bungalows in Yashwant at New Tarabai Park, Kolhapur

Can you think of owning a 3 BHK Bungalow in 50 -60 lakhs in Pune real estate market?

I am very much tempted to invest in Kolhapur. What about you?

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Thursday, November 19, 2009

Wednesday, November 18, 2009

Is it because some of us find it difficult to believe in ourselves?

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A registration fee of 1% of the market value means a hike in stamp duty from 5% to 6%

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Narayan Rane lifts the stay and cancels the maximum cap of Rs30,000

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TDR rates are rising:

Because of the TDR rates property prices are rising in Pune real estate market:

Nexus between officers and particular builders:

TDR Agents:

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Monday, November 16, 2009

What do you do when you realize that the builder is trying to hide from you exactly how much space you are going to get?

1) Amanora Park Town - Trendy Homes - Tower 30 -35:

2) Amanora Park Town - Tower 1 - 10:

3) Megapolis Hinjewadi Phase 3: