I don't trust a builder!
I am associated with Pune real estate market for more than 20 years. For all these 20 years, I have always believed in every builder's dream. But i never trusted a single builder in Pune. And, I don't trust any builder today.
I don't trust any builder in Pune, mainly, because their dreams are based on lots of assumptions and our money.
If the builder is very sure that soon his assumptions are going to turn in to reality, i wonder why the builder doesn't wait till that point of time, invest his own money and earn more profit?
Why hurry now to tempt the property buyer to invest his hard earned money and take the huge liability of a home loan?
What are the risks involved in waiting for the right time? Why is the builder trying to avoid these risks? Why is the builder avoiding investing his own money - in his own project and - in his own dream?
How can I trust the builder if the builder himself doesn't trust his own project?
No builder trusts his own project!
When i was in Pune real estate advertising and marketing, I have launched many projects. In those days, launching of a project was a business opportunity for me. By launching a project, my client, the cash starved developer of the project used to collect some money to fill his empty coffers and start the construction. But the buyers in those days were not so enthusiastic to give advance to the builder. So, for me it was an opportunity to earn handsome money by creating good advertising. Obviously, i was happy to believe in the builder's dream at the launch stage.
Now, when i write for the property buyers, i see that only those who financially benefit from the launch of project believe in the builder. Looking at the business opportunity they convince themselves that the builder's dream would turn into reality and work for them. For example, housing finance companies, advertising, marketing and event management agency of the builder, main stream media and hoarding & catering contractor.
But the problem is, now a days, very small number of property buyers, those who are actually going to give their money to the builder at the launch of project, trust the builder that he will be able to materialize his dream.
Look at the recent examples. Even a project like "a 2 BHK Flat for Rs. 25 Lakhs on Sinhagad Road at UrbanGram Kirkatwadi" was not 'sold out' on the day of launch, as per the expectations of the builder.
I was told that, on the day of launch, out of 481 flats only 40 were booked at D S Kulkarni Developers' DSK Meghmalhar Phase 2.
Result is, today, a launch of the project has become a program of public acceptance of truth that without the property buyers' financial support the builder is unable to construct the project.
Not only that! In the launch ad of project, the builders in Pune publicly accept that very few property buyers come forward to take the risk at the launch stage.
For example, D S Kulkani Developers accepted that most of the flats in DSK Meghmalhar Phase 2 will remain unsold after the 4 day launch event and announced their property prices in advance!
In full two page color launch ad in Pune Times, Skyline at Wakad accepted that they didn't expect that more than 25 property buyers would take the risk of booking a flat at the launch.
Bharucha and Sons were ready to giveaway 3 Tata Nano Cars, 10 Washing Machines and 50 Mixers to the property buyers who didn't mind taking a risk of booking a flat at the launch of Collina at Kanhe Phata, near Vadgaon - Talegaon!
This public acceptance of the builders proves that not only the property buyers in Pune, but even the builders themselves don't trust in their own project!
No Bank Trusts a Builder:
We all know that the Reserve Bank of India (RBI) has given orders to all banks that they should not "over expose" themselves to the real estate industry. So, banks are reluctant to fund the builder's dreams.
Instead of trusting the builder's dream and financing his project, banks prefer to lend to an individual property buyer. Who irrespective of quality of the construction and completion of the project, will repay the home loan. So, on behalf of the property buyer, a bank gives money to the builder. Not all at one go. But in installments. As per the stage of construction.
So, when the builder needs more money at the launch of the project, the builder has to rope in some bank which is in need of business and ready to risk it's funds. Like ICICI agreed to give ADF to DSK Meghmalhar Phase 2!
No Land Owner Trusts a Builder:
When any project is launched, most of you ask me about the quality of construction, possibility of completion of the project in time, future development of the location and expected appreciation of the property.
Only a few, who know how the builders in Pune do their business ask me, "Ravi, why did this builder launch the project now?".
These property buyers know that the builders in Pune do not launch the project to make you rich by giving an opportunity to earn huge appreciation.
These well informed property buyers know that unless and until there is some urgent and important financial need - no builder approaches the property buyers in Pune.
Most of the time, installment of payment to the land owner is the sole reason for launching the project.
Desperate to pay the land owner, the builder takes the help of popular idea - "at the launch property prices are less" and tries to terrorize the property buyers by advertising and constructs show flat at the site to trap the visiting property buyers.
At the launch, now a days, a small number of property buyers, generally 2 - 3 per cent out all site visitors, really get frightened and give the cheque of booking amount to the builder.
Assuming that after going home, many are going to stop fearing and going to regain their confidence, builder takes cancellation charges from the property buyers. After all, mostly, collecting money to pay to the land owner is his only motive behind the launching of the project.
However, the cancellation charges don't prevent the property buyers from joining others who have visited the site but not booked. Collectively, all of you start questioning!
A few questions about Skyline at Wakad Pune:
In case of Skyline at Wakad too, i am sure, you will also have many questions. For example look at my questions:
|'Horizons at Wakad' Pune on the day of launch of 'Skyline at Wakad'|
1) Why did Adi Group launched the Skyline at Wakad when a few flats in the under construction building in Horizons at Wakad are available?
2) Why did Adi Group launch the 'Skyline at Wakad', when out of 5 buildings in 'Horizons at Wakad' - only 2 are almost ready, RCC & brick work of the third is going on and the construction of the last building is not yet started?
|'Horizons at Wakad' - Road - 'Skyline at Wakad'|
3) 'Skyline at Wakad' and 'Horizons at Wakad' are located on the two opposite sides of the road - which doesn't exist today. What is the reason behind not waiting for the road and what is the hurry to launch 'Skyline at Wakad' at this premature stage at the lower rate?
4) Why the booking amount is Rs. 3 lakh and cancellation charges Rs. 50,000?
5) Do they fear that, day by day, Wakad is becoming less popular and unless you have a competitive property price no one books at Wakad Pune?
6) Does Adi Group know that Pune is in Maharashtra and in Maharashtra property is sold on the carpet area? Why the carpet area of the flat in Skyline at Wakad is not given?
Along with the first question came to my mind when i saw the launch offer - Why are you charging the property rate of Rs. 3,800 per sq.ft. for 'Skyline at Wakad'?
My dear readers of Ravi Karandeekar's Pune Real Estate Market News Blog, if you have any questions, please, feel free to write in the comments. The launch of 'Skyline at Wakad' was business cum family get-together. So, i couldn't ask a single question. However, i have told the directors that i will visit them with an appointment to talk about the launch of 'Skyline at Wakad' - which is planned better. Have a look the floor plans and the 'regular' property prices at the rate of Rs. 3,800 per sq.ft. saleable area for 'Skyline at Wakad' Pune:
Skyline at Wakad Pune - 2 BHK Flat Cozy - Even Floors
878 sq.ft. Saleable Area for Rs. 34,91,900 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:
|Skyline at Wakad Pune 2 BHK Flat Cozy Even Floors 878 sq.ft. Saleable Area for Rs. 34,91,900 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month|
Skyline at Wakad Pune - 2 BHK Flat Comfort - Even Floors
953 sq.ft. Saleable Area for Rs. 37,58,150 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:
|Skyline at Wakad Pune 2 BHK Flat Comfort Even Floors 953 sq.ft. Saleable Area for Rs. 37,58,150 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month|
Skyline at Wakad Pune - 2 BHK Flat Large - Even Floors
1065 sq.ft. Saleable Area for Rs.41,55,750 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:
|Skyline at Wakad Pune 2 BHK Flat Large Even Floors 1065 sq.ft. Saleable Area for Rs.41,55,750 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month|
Skyline at Wakad Pune - 3 BHK Flat Odd Floors
1301 sq.ft. Saleable Area for Rs. 49,93,550 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:
|Skyline at Wakad Pune 3 BHK Flat Odd Floors 1301 sq.ft. Saleable Area for Rs. 49,93,550 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month|
Contact 'Skyline at Wakad' Pune:
020 6511 2111/2555 / 97 62 071 071 / firstname.lastname@example.org / www.skylineatwakad.com
1) SATURDAY, JANUARY 7, 2012
Skyline at Wakad: 3,550 per sq.ft. for 25 bookings!
2) SATURDAY, JANUARY 7, 2012
Skyline at Wakad Pune Launched!
3) WEDNESDAY, JANUARY 4, 2012
Skyline at Wakad will be launched on 7th January, 2012!
4) MONDAY, MAY 10, 2010
Horizons at Wakad Pune opens booking at the property rate of Rs. 2,550 sq.ft. (for first 50 flats!)
5) MONDAY, APRIL 18, 2011
Discount! Horizons at Wakad offers Rs. 200 per sq.ft. discount!!
6) TUESDAY, DECEMBER 27, 2011
Available! Six 2 BHK Flats in Tropica, Blessed Township at Ravet PCMC, Pune 412 101!!
7) MONDAY, DECEMBER 26, 2011
Available! Ready Possession 3 BHK Flats at Wakad - Pune!!
8) FRIDAY, DECEMBER 23, 2011
Kumar Piccadilly Circus & Jokers at Wakad Pune 411 057
9) TUESDAY, NOVEMBER 22, 2011
Want a 3 BHK Flat at Wakad, Pune 411057?
10) MONDAY, JANUARY 2, 2012
Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs in December 2011
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