"Itne Paise Me Itna Hi Milega"
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| Bai and Bhai on Channel V |
Recently, i have started feeling that builders in Pune are trying to teach a lesson to Pune property buyers. Pay for not booking and stalling Pune real estate market for over an year! To teach the lesson, Builders in Pune have changed their "Avtar" and are using a new deadly weapon called "Affordable Home".
Smarter and richer with the experience and exploits of Pune real estate boom, Pune builders have given up the image of a "Bhai". Now, they have become a "Bai". Only to convince you that, now,"Itne Paise Me Itna Hi Milega!"; you will get only this much carpet area for so much property price.
Means, you have to compensate our loss in profit by accepting smaller carpet area at a higher property price. Thanks to The Times of India, for sugar coating this vengeance by publishing the stories quoting Mr. Shashank Paranjape of Paranjape Schemes (Construction) Ltd., "the size of the units is what is restricting the overall price"!
Property Rate Rs. 4,000 per sq.ft. for the Carpet Area! Is this an affordable home?
To visit Aishwaryam Courtyard, i got down at Krishna Nagar in Pradhikaran. At the Spine Road, i couldn't resist asking the shopkeeper, "What is this? Is this a road?" Walking on the narrow road, which had an open drainage on one side, when i reached Sane Chowk, i realized that, now, i am in one of the fringe villages of Pune - i mean of PCMC. "Not more than a kilometer!," someone told me when i asked about Aishwaryam Courtyard.
View Aishwaryam Courtyard, 1 BHK, 2 BHK, 3 BHK Flats, near Pradhikaran, on Akurdi Chikhali Road PCMC in a larger map
In the morning, i had attended the launch of Blue Bells, opposite Pu La Deshpande Udyan on Sinhagad Road which is considered as one of the prime residential areas in that part of Pune. At Blue Bells, Navjeevan Properties was offering "Affordable" 2 BHK Flats, which had carpet areas of only 613 to 615 sq.ft. And the property rate per square ft of carpet area was approximately Rs. 10,000. What would be the rate of one sq.ft. carpet area at Aishwaryam Courtyard? I was wondering.
How much lesser would it be than the recently launched Westside County? In the not so popular but conveniently located and developed location of Pimple Gurav, Darode Jog Properties were offering a 2 BHK Flat of 634 sq.ft. carpet area. And the property rate for one square ft of carpet area was approximately Rs. 5,600. What would be the price of one sq.ft. carpet area at Aishwaryam Courtyard? I was wondering.
How much lesser would it be than Vastushodh's upcoming project in a fringe village on the extended Karve Road in Pune, which has good public transport, water, essential shopping, schools and medical facilities? Yes, i was trying to compare it with "Vastushodh's 2 BHK Flat for Rs. 20 Lakhs." Which is located in Kondhawe Dhawade Pune 411 023, popular and populated residential area in educated, lower income group of Marathi Punekars. Just like Sinhgad Road in 90s!
Here at Kondhawe Dhawade Pune 411 023, near National Defense Academy (NDA) Khadakwasla, Sachin Kulkarni, my dear friend and M.D. of Vastushodh, is offering a 2 BHK Flat of 629 sq.ft. carpet area. And the property rate for one square foot of carpet area is approximately Rs. 3,100. What would be the price of one sq.ft. carpet area at Aishwaryam Courtyard, which is not considered as a residential area, doesn't have public transport, water or any type of basic facilities and services? I was wondering.
On every hoarding and in the press ad of Aishwaryam Courtyard, i have read - "1 BHK Flat Rs. 14.11 Lacs Onwards - 2 BHK Flat Rs. 19.97 Lacs Onwards." I have also read the small print - "Other Charges Extra. Limited Period Offer."
For more than a decade, i have worked in real estate advertising in Pune, so i know how misleading real estate ads are. Because of that, when i see the ad "Best Floor Plan in Pune", i understand that something is not right about the planning of this project! Oh! Forget about the "Best", I can see that, this project doesn't have 2 staircases as per the current Fire Safety Norms in PCMC! Same way, i was sure that the actual property price of a 1 BHK Flat and a 2 BHK Flat in Aishwaryam Courtyard would be much more.
When i reached the site of Aishwaryam Courtyard, i was disappointed when not a real estate salesperson but a college-going kid, a volunteer working on daily wages in his free time, welcomed me.
Second disappointment was when i saw that the builder hasn't given the carpet area of a flat. He has given a "total of carpet areas" - of flat and terrace! For example see these total carpet areas of the 2 BHK Flats and see the sizes of the terraces:
1) Total Carpet Area of Flat no F 305 is - 713 sq.ft. - which has 2 terraces - 1) 7'6"x6'9" + 2) 7'6"x10'
2) Total Carpet Area of Flat no F 205 is - 697 sq.ft. - which has 2 terraces - 1) 7'6"x6'9" + 2) 5'9"x10'
3) Total Carpet Area of Flat no H 201 is - 640 sq.ft. - which has 1 terrace - 1) 7'6"x8'
4) Total Carpet Area of Flat no H 101 is - 683 sq.ft. - which has 1 terrace - 1) 10'3"x7'6"
Which means that approximate carpet area of these 2 BHK Flats is 580 sq.ft. Right?
But the builder hasn't declared the carpet area of the flat. May be, he was feeling shy to ask Rs. 4,000 for the one square ft carpet area! Or, may be, he was not confident about his offer - Pay Rs. 4,000 for one square ft of carpet area in my affordable housing!
I felt very sorry for this builder. What is the point in hiding the actual carpet area of a flat (and per sq.ft. property rate for it,) which, anyway, he has to declare in the agreement!
Third disappointment was Rs. 50 per sq.ft. extra for the "Premium Facing Flats"! Fourth was - Rs. 50 per sq.ft. extra for the flats on the 1st, 2nd and 3rd Floors!
"It means that at Aishwaryam Courtyard for a garden facing 2 BHK Flat on the 2nd floor, I have to pay the property rate of 2399 + 50 + 50 = Rs. 2499!," I said.
"Yes! 2399 + 50 + 50 = Rs. 2499!!," the volunteer repeated the property price as if he was mocking me!
To ridicule me more, pointing at the stout young man on the next table, he asked, "Would you like to meet the builder?"
"No!," I said. Because, I knew what the builder will say - "Itne Paise Me Itna Hi Milega". Right?
Property Prices at Aishwaryam Courtyard:
Photo-walk on Akurdi Chikhali Road and at Chikhali village:
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| Aishwaryam Courtyard - All over Pimpri Chinchwad |
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| BRTA Road at Akurdi - Aishwaryam Courtyard Akurdi Chikhali Road Near Pradhikaran Sane Chowk Pimpri Chinchwad Municipal Corporation (PCMC) |
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| Akurdi Chowk - Hoarding of Aishwaryam Courtyard Akurdi Chikhali Road Near Pradhikaran Sane Chowk |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road 2 |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Display boards at Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Display boards at Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Display boards at Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Layout plan of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on 100 ft Akurdi Chikhali Road |
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| Site of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Site of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Neighborhood of Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Offices of Aappa Bhanse Land Developers - Neighborhood of Aishwaryam Courtyard |
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| Ashirwad Heritage (www.ashirwadhomes.com), opposite Aishwaryam Courtyard 1 BHK 2 BHK 3 BHK Flats on Akurdi Chikhali Road |
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| Proposed 100 ft Akurdi Chikhali Road at Aishwaryam Courtyard |
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| An evening in Chikhali Village |
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| An evening in Chikhali Village |
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| Ganpati Visarjan at Chikhali Village - two types of girls in one village |
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| Ganpati Visarjan at the Town Square of Chikhali Village |
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| Ganpati Visarjan at Chikhali Village |
Related Stories:
1) MONDAY, SEPTEMBER 13, 2010
Aishwaryam Courtyard, on Akurdi Chikhali Road, Near Pradhikaran, Sane Chowk, Pimpri Chinchwad Municipal Corporation (PCMC), Launched!
2) WEDNESDAY, SEPTEMBER 15, 2010
Affordable 2 BHK Flats in Pune real estate market
3) FRIDAY, SEPTEMBER 3, 2010
August 2010 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog
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Ravi, thanks for this eye-opener revelation abt "rate/sqft of carpet" (as it should be as per Govt. rules/norms).
ReplyDeleteCould you post similar figures for other schemes like Blue Ridge (1,2,3BHKs), Megapolis(Phase1,2), Aloma county, Kalpataru Harmony etc?
I am sure you can get these figures in few minutes...Thanks in advance.
Hello,
ReplyDeleteVery nice post, Great combination of photography. It's really helped me alot give me a lot of information ...
Thanks
Amsterdam apartment rentals
Great post... I always like your genuine and neutral reviews..
ReplyDeleteI am planning to buy a flat in Aishwaryam coutryard from Investment point of view. should I go for this or not. Please help
ReplyDeleteNice Efforts...
ReplyDeleteWhat you want to prove exactly?? One should opt this property or not?
What is the purpose behind posting those pics?? I am just curious to know….
Ravi, I think the locality is far better than the place like Baner and Wakad, which was a jungle in yr 2000. See what it is today.
ReplyDeleteAlso 2500 per sft rate is quite low, when buildings surrounding slums (warje, hadapsar) are geting sold at 3500+ sft...
Anyways... keep posting your experiences..
Yes, Sachin, liking or not liking location is a personal.
ReplyDeleteBut, let me tell you Baner and Balewadi were never jungles. These were villages. And still are.
One bad example can't prove that other is good.
I was talking about numbers. I was talking about value. I was talking about transparency. I was talking about ethics.
I believe that you should get value for your money. Whatever money you pay.
Hello Abhijeet!
ReplyDelete"What you want to prove exactly?"
i want to tell the builder that Abijeet should know exactly how much carpet area he will get. I want to tell the builder that Abijeet should get the value for his money.
You said: "One should opt this property or not?"
To help Abijeet make up his mind, Mr. Builder, please, give him correct information.
You are a buyer. You have a right to ask the questions. Know the exact price.
You said: What is the purpose behind posting those pics??
My blog is read all over the world. Because if these photos -my reader in Japan gets some idea about the location. Or some times - he just feels good.
Mr Karandikar,
ReplyDeleteThanks for your efforts.
I want to know whether the builder you mentioned here has completed some projects & handed over the Flats to purchaser with formation of Society in the stipulated period of four months from the completion of building ?
Does the locality he has built is free from Hoardings & mobile towers inside the society area ?
Ravi,
ReplyDeleteThank you for your valuable Blog.
I am also looking for the flat in pune.
Now a days the builders are keeping lot of hidden cost , As on first sight we feel like it is cheap but after going through all the hidden cost it piles a huge amount.
Now a days builders are also charging 100% rate for terrace also , this is not good at all.
While going through all the sites in pune I am really confused.
I really appreciate your effort for gathering all the information.
Do you have any constructional site in your sight where I will get the best deal.
Regards,
Paresh Gawade