Monday, May 10, 2010

Horizons at Wakad Pune opens booking at the property rate of Rs. 2,550 sq.ft. (for first 50 flats!)

Horizons at Wakad by Adi Realties:

Unknown builder in the unknown part of Wakad in Pune!


Adi Realities is the developer of Horizons at Wakad, Pune (www.horizonsatwakad.com) A residential real estate project of 264 Flats - 2 BHK & 3 BHK - in 6 buildings - parking plus 11 floors.

I haven't heard of Adi Realities. However, according to the website of Horizons at Wakad Pune, in 2004 (!) Adi Group diversified into real estate industry. All active directors of Adi are technically qualified engineers and have an in depth knowledge. The directors of Adi, the website says, "believe in making benchmarks and then breaking them!"

At the site, i met one of the directors, Mr. Anil Bhagwani. Anil said that he has a multifaceted personality and gave me his visiting card. Mr. Anil is the director of an IT company - Adi Innovative Solutions Pvt. Ltd.!

At the end of the day, I realized that, these young guys from Pimpri know all about Pune real estate market, and they are, for sure, going to make and break "benchmarks". For example:

1) The launch ad of Horizons at Wakad Pune was stupid but unique - Front Page of Pune Times - Full Page - Both Sides!

Launch Ad of Horizons at Wakad Pune - click the ad to enlarge:



2) The launch ad of Horizons at Wakad Pune mentions "Credai, PCMC" membership


3) On the day of the launch, at the site of Horizons at Wakad Pune, lunch was served!

4) Instead of a regular property rate of Rs. 2,750 - only Rs. 2,550 per sq.ft. special launch offer - certainly, only for the first 50 flats - 3 BHK Flats in A wing & 2 BHK Flats in B wing - was announced!

Special Offer: Property rate at Horizons at Wakad Pune:

Layout Plan of Horizons at Wakad Pune - - click the plan to enlarge:


5) At noon, claim was - "50 per cent flats booked!"
At 6pm - "only 2 -3 flats available at this rate (obviously) on 9th, 10th & 11th!"

6) A salesman was telling everyone that Adi Realities had 'completed' 2 projects in Rahatani. However, the brochure of Horizons at Wakad Pune don't say anything about the "past projects"

7) "Larger than Life" terraces are offered to living / dining - costing you:

1) For a 2 BHK Flat of 618 carpet - 92 sq.ft. terrace
You Pay Rs. 2,34,600 - @2,550 &
2,53,000 - @2,750

2) For a 2 BHK Flat of 621 carpet - 125 sq.ft. terrace
You Pay Rs. 3,18,750 - @2,550 &
3,43,750 - @2,750

3) 2 BHK Flat of 691 carpet - 133 sq.ft. terrace
You Pay Rs. 3,39,150 - @2,550 &
3,65,750 -@2,750

4)For a 2BHK Flat of 693 carpet - 128 sq.ft. terrace
You Pay Rs. 3,26,400 - @2,550 &
3,52,000 -@2,750

5)For a 3 BHK Flat of 881 carpet - 130 sq.ft. terrace
You Pay Rs. 3,31,500 -@2,550 &
3,57,500 -@2,750

Means, at the property rate of Rs. 2,750 per sq.ft., per flat on an average income from the terrace would be Rs. 3.34 lakhs! Which means that income from the total 264 flats would be Rs. ....

8) Premiums:
1) Garden facing flats - Rs. 50 per sq.ft. extra!
2) Floor rise - Rs. 25 per floor - from 5th floor.

9) Parking is not mentioned separately - instead of that there are 2 types of Infa charges!

1) Rs. 2,90,000 2) Rs. 2,40,000 - means open parking with a 2 BHK Flat

1) Rs. 3,00,000 2) Rs. 2,50,000 - means open parking with a 3 BHK Flat!

10) Horizons at Wakad Pune - Property Prices:


1) 2 BHK Comfort Flat - 618 carpet + 9'x7'6" terrace - on even floors:
Rs. 25,51,850 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 25,01,850 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 618 sq.ft. carpet - click to enlarge:


2) 2 BHK Comfort Flat - 621 carpet + 9'x7'6" terrace-living/dining + 6'6"x5' terrace-master-bedroom - on odd floors:
Rs. 26,66,600 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 26,16,600 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 621 sq.ft. carpet - click to enlarge:


3) 2 BHK Large Flat - 691 carpet + 9'x7'6" terrace-lving/dining + 5'x9'1" terrace-master-bedroom - on even floors:
Rs. 29,16,500 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 28,66,500 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 691 sq.ft. carpet - click to enlarge:


4) 2 BHK Large Flat - 693 carpet + 9'x7'6" terrace-lving/dining + 8'x5' terrace-master-bedroom - on even floors:
Rs. 29,06,300 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 28,56,300 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 693 sq.ft. carpet - click to enlarge:


5) 3 BHK Flat - 881 carpet + 7'x9' terrace-lving/dining + 4'6"x8'6" terrace-master-bedroom - on even / odd floors:
Rs. 35,20,650 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 34,70,650 (with open parking) + all extra charges

Horizons at Wakad: 3 BHK Flat - 881 sq.ft. carpet - click to enlarge:


11) No sample flat! - Who is interested in the sample flat when the property price is so attractive!

12) Construction hasn't started - at least no one told me about it - i didn't hear anybody asking about it! At the time of the booking, you know, Pune property buyers trust any builder. They don't even ask for the sanctioned plans or any legal document! After the booking, as usual, Pune property buyers complain about every builder - who bothers?

13) Yes, Digital presentation was going on the TV all the time - it's enough to entertain when the property price is so attractive!

14) Entrance lobby: every type of a flat has an entrance lobby - in comfort 2 BHK Flats - small & useless - in large 2 bhk flats - enough & useful - in 3 BHK Flats small & useless

15) Living cum dining floor plan - all flats have 'living cum dining' layout. So, you get a hall in one piece of 21'x10'6" in a 2 BHK Comfort flat, 21'x11'6' in a 2 BHK Large Flat and 12'x21'6" in a 3 BHK Flat. If you are a "social" person you will like this "multi-utility hall type plan".

Multi-utility hall type floor plans for social animals:


16) Small and Squarish Kitchen - Look at the sizes of the kitchens in Horizons at Wakad Pune:

Kitchen in a 2 BHK Flat:

Kitchen in a 3 BHK Flat:


1) 2 BHK Comfort Flat - 8'6"x7'
2) 2 BHK Large Flat - 8'6"x8'
3) 3 BHK Flat - 10'x8'
So, the length of your kitchen platform is only 7' or 8'. On this kitchen platform most of the space would be occupied by your sink and gas stove. It means your wife would get enough space to cook only one dish - Maggi! So, eventually, your family will be on the Maggi Packs and in Maggi Ads. All of you will become "Maggi Star"!


17) Common Toilet in the entrance lobby of a 3 BHK Flat: Very revolutionary idea! When someone will visit your 3 BHK Flat, a common toilet will be ready to welcome him! Here your guest can first "freshen up" and then directly join you on your dining table.

If your guest over eats or over drinks, no problem, toilet is close by. Please, be careful, see that your guest doesn't gets confused and opens the wrong door! Because, in this entrance lobby - there are 3 doors - 1) door of your common toilet, 2) door of your third bedroom and 3) your main door!

Toilet & Home of Ms. & Mr. Maggi:

Welcome to Backward Wakad Pune!

Now, i have realized that there are 7 parts of Wakad.

1) Park Street - Mahindra Woods' Wakad - which is on Aundh - Dange Chowk road

2) Kaspate Wasti's Wakad

3) Wakad Chowk - Thergaon - Dange Chowk road - Wakad - on which my favorite Nandan Inspera, Mont Vert Seville, apostrophe are.

4) The Hidden Wakad: where Eden - The Island are located!

5) Rohan Tarang's Wakad

6) Wakad on the other side of Mumbai Pune express way - Soul Curry Wakad and now,

7) Backward Wakad of Horizons!


Backward Wakad of Horizons is located somewhere in the backyards of Apostrophe and Silver Skyscapes on the Wakad Dange Chowk Road and Sayaji Hotel on Mumabi Pune Expressway.

At this point of time, there is a narrow lane on Dange Chowk to Hinjewadi road to "Backward Wakad of Horizons"!

I got down at Ginger Hotel on Mumabi Pune Expressway and walked to the site of Horizons at (Backward) Wakad Pune. Have a look at what i saw:

Horizons at Wakad Pune on Google Maps:



View Nandan Inspera, 2 BHK Flats at Wakad Pune in a larger map






















Related Stories:

1) TUESDAY, MARCH 23, 2010

Reflections, Dange Chowk, Wakad, Pune - serious thoughts!

2) TUESDAY, MARCH 23, 2010

2 BHK Flat for 35 lakhs in Wakad Pune - one more real estate project coming soon!

3) SATURDAY, MAY 1, 2010

April 2010 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

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30 comments:

  1. So Mr. Ravi, have you also booked?

    How many flats have you invested in or own?

    ReplyDelete
  2. Thank you Mr. Karandeekar. Special thanks for posting the photos which gives me the feel without physically visiting the site.
    I found this article informative (and an eye opener too - terrace charges!). Even new builders have started advting gimmicks (like the more established ones). Infra charges and other hidden charges, 50 flats being booked in couple of hrs, this is all too much to digest!

    ReplyDelete
  3. I have booked 2 BHK flat in B wing. As far as terrace charges are concerned approximately all builders are doing the same thing....so it doesn't matter whether builder is reputed or not.
    I am concerned about whether this builder will keep his word by providing all amenities/specification for the flat as mentioned in broucher. Can anyone has the clear idea about proposed DP road. Is it on hold or in progress. So apart from terrace charges does anyone has any other negative view about this project. Please share your view this will help me to give final nod about booking in this project. Thanks in advance.

    ReplyDelete
  4. The offer and the scheme both don't seem that attractive as I was thinking it, after reading your blog. Thanks for the detailed information about the project, specially for the photos, But the way you put everything indicates that you might not be offered the lunch there!

    ReplyDelete
  5. Ref: "How many flats have you invested in or own?"
    I am real estate salesman. Not an investor.

    No. I don't own a single property - including my home.

    ReplyDelete
  6. Ref: "Thank you Mr. Karandeekar. Special thanks for posting the photos which gives me the feel without physically visiting the site. "

    Thanks for complements!

    ReplyDelete
  7. Ref: "But the way you put everything indicates that you might not be offered the lunch there!"

    But i am supposed to keep on visiting the site and give you construction updates for the next 36 months! Would i be able to do that?

    ReplyDelete
  8. Ref: "As far as terrace charges are concerned approximately all builders are doing the same thing.."

    True!

    But, Do you really want so big terraces?

    Instead of so big terraces - which are, now, charged at 100% - how about having a small study of 8'x10'?

    I believe that the property buyer has a right to tell the builder to redesign the floor plan and come back to him!

    After all, what builder presents is just a concept and you pay him in advance to built it. So, you are the boss and the builder is only a service provider.

    Now, even government also treats the builder as a service provider and asks you pay tax on services provided by the builder.

    So, you should be served! Isn't it?

    ReplyDelete
  9. Ref: "I am concerned about whether this builder will keep his word by providing all amenities/specification for the flat as mentioned in broucher. "

    That's the point!

    If you had given an opportunity, i am sure, the builder would have proved that he keeps his promises.

    But you didn't give him (new builder) time to develop amenities - which are on the podium and Oval Nest Warje (http://www.srkdevelopers.in/ongoingintro.html)
    has proved that it's possible to develop all amenities before the entire project is ready!

    Same is with specifications - let him (new builder) built RCC structure and make an actual flat with exact specifications - to convince you how good he is!

    But, you don't let the new builder prove himself and start expressing doubts about his integrity - this is not fair. Give new builder an opportunity to prove himself!

    Point is - problem is not with the new builder but with you!

    ReplyDelete
  10. You are a real estate salesman, if the builder offers you some incentive would you promote the same project which you are critisizing... isnit it?

    ReplyDelete
  11. Ref: "You are a real estate salesman, if the builder offers you some incentive would you promote the same project which you are critisizing... isnit it?"

    Good question! Thanks for asking this!

    Here is my answer:

    1) i don't criticizes any project - i put facts in front of you.

    2) I don't criticize any project - because i am writing for you - for the property buyers and not for the builders.

    3) At the same time - i don't promote any project - except one - Anandgram at Yavat - and all upcoming Anandgrams - concept of this project and the builder - Sachin Kulkarni of Vastushodh Projects are very close to my heart!

    4) You may find it very difficult to understand and accept
    - i don't run after money
    - i don't need to earn money for living
    - i don't have to work for earning money
    - in fact i don't even bother to know how much money i have in my bank account
    - i have earned this financial freedom!

    ReplyDelete
  12. Ok..I have read all the comments.....So Mr Ravi Sir, You are in this business since long time.....overall what do you feel about the project......In rating out of five how much you will give. Thanks for your comment abt my previous question about terrace charges and new builder....And you are right no one will opt for the big terrace in 100% charges. So if you look at the even floor plan then everything in this plan is same as compared to odd floor plan except terrace in master bedroom. So How abt the 2 BHK flat of carpet area 618 sqft. Will you recommend this one if anyone dont need much terrace in the flat.

    ReplyDelete
  13. First, i will let the builder build and develop the project and then consider.

    ReplyDelete
  14. Hi, I am Dinesh Tashildar, Network and Systems Manager, Cognizant Technology Solutions.
    The builder Adi Group is not unknown and nor they are new in the real estate business.
    I first met Anil Bhagwani in Tokyo way back in June 2000, where he was a IT professional working for investment bank there.
    Since then he motivated his brothers to make this real estate fortune, he is a man with vision and courage.
    After coming from Tokyo in Oct 2008, he took over a Bangalore based company called Zillion Information Systems and changed it to Adi Innovative Solutions www.adiinnovativesolutions.com.
    I had also been to the Launch of Adi Regency, which is in the possession phase now exactly after 2 years at Vijaynagar Kalewadi.
    Adi Group is not new to the housing industry.
    I suggest all of you to visit the site as these guys will surely deliver a quality product again.
    I didn’t buy a flat as i have started constructing a bunglow for myself.

    ReplyDelete
  15. Hi

    I'm sure Adi builders will deliver on time & quality product. I know Adi group for long time now.This is defenitely thier first big project & thier past projects have been on small scale.To stand up in the market & create mark, they will do thier best to deliver on schedule.

    ReplyDelete
  16. Thanks for sparing time to comment, Dinesh Tashildar!

    ReplyDelete
  17. Ref:"I know Adi group for long time now."

    Good to know this!

    ReplyDelete
  18. Dear Ravi,
    why do you think the ad was stupid? what part you didn't like in it?

    ReplyDelete
  19. Ref: "why do you think the ad was stupid? what part you didn't like in it?"

    Why are you asking? Do you think it's brilliant?
    1) First Page - Head line - "Why should the best things in life ....?"

    "Best things are expensive" or "Expensive things are best" - for most of us it's universal truth! Wrong way to start talking about 'introductory property price of Rs. 2550 per sq.ft. for only first 50 flats!'

    2) Second Page- head line - "Get the best of neighborhood at a price...." see the photos...is it the best neighborhood?

    A builder who believes that all property buyers are stupid could release this ad. OMG!

    ReplyDelete
  20. Has anyone checked the approval?Sanctioned lay out?

    I planning to book a flat there on the 6th floor, but do not know if they have approvals in place...can someone advise?

    ReplyDelete
  21. The approval has been checked & verified for the land & layout.Everything looks looks to be legit.For more info I would suggest straight away ask its management - Adi Group . That way you will be sure.

    ReplyDelete
  22. thanks for the information SRD....have you personally verified everything?

    have you booked a flat there your self?Also what is a general opinion on that area development where horizon's is located?In next 2 years, were do you see the area going to be in terms of development?

    ReplyDelete
  23. I haven't checked it myself but my family, friends have checked the details.I have seen the construction quality in thier previous projects which is really superior. Yes I have booked 1 flat but my family friends & others have also booked thier flats.This was all done after all the research & verification.

    Development is bound to happen in the horizons area.I mean with land shortage builders are looking for open plots. We already have decent projects in that area - Apostrophe & Silver Scapes. My pesonal opinion - Wakad will be next Pimple Saudagar area in next 3-5 years.

    As mentioned in my earlier post , do some research yourself & get in touch with Adi.Only after that decide.

    ReplyDelete
  24. They do not have their paper work complete yet and time expected for the same is also not assured by them.....anyone here has booked flat with them?

    What is your expirience?

    ReplyDelete
  25. The time given is 2 years starting May 2010. As mentioned in the post above, I have booked 1 flat along with some family & friends in this project. I would suggest you to go & check the work quality & then decide for yourself. What do you mean by paper work ? Did you speak to the right person ?Get in touch with J Bhagwani.

    ReplyDelete
  26. I have also booked flat here.......but as they still don't have NA letter yet I am not able to go ahead for the bank loan.........even I have been told that they will very soon get it.......but its almost 2 months over now but situation is still the same.....no idea when they will get NA order.....still they are saying that very soon we will get it.....Do anyone who booked flats here can tell me whether this project is pre approved by HDFC (as they claimed) or its a false information which they said at time of booking?
    Thanks In advance.

    ReplyDelete
  27. Is Horizon approved , do they have NA letter?

    ReplyDelete
  28. Hi,
    My name is Royden, Iam looking for a house in Wakad - Pune; My dell # is 9870058598.

    ReplyDelete
  29. Hi,
    One of my collegues, Abhiram is also intrested in a house in Pune - Wakad, HIS NUMBER IS 9594305255

    ReplyDelete
  30. This comment has been removed by the author.

    ReplyDelete