Friday, June 15, 2012

Welcome to Pune! Welcome to Hell!

Marathi Bandhkam Vyavasayik Association (MBVA) seeks help from Pune Municipal Corporation (PMC) Corporators!


Get-together (Sneh-Bhet) of Marathi Bandhkam Vyavsayik Association (MBVA) & Pune Municipal Corporation (PMC) Corporators at Pune Marriott Hotel & Convention Centre, Pune on 11th June 2012 - 2
Get-together (Sneh-Bhet) of Marathi Bandhkam Vyavsayik Association (MBVA) & Pune Municipal Corporation (PMC) Corporators at Pune Marriott Hotel & Convention Centre, Pune on 11th June 2012 - 2

You know what? When someone from Mumbai calls 919860044110 and asks my advice about investing in Pune, I say, "Welcome to Pune! Welcome to Hell!!"

Obviously, the caller asks, "Why? Isn't it a good idea? Everyone says that Wagholi is an investment destination!"

"Oh! Wagholi!! Wagholi is not in Pune. Wagholi is not "hell". Wagholi is "super-hell"!! Welcome to SuperHell!," i correct myself.

"How about Wakad?," the learned Mumbai investor asks.

"Thinking of investing in Wakad - PCMC? You must have committed sins in your past life! What can you do? God wants you to suffer in this life!!," I try to explain.

"Why are you talking like this? Isn't Pune an investment destination?," the learned Mumbai investor asks.

"No. Pune - including PCMC and their fringe villages are deteriorating and dying.," I say and start crying loudly.

"Calm down, please. I didn't mean to hurt you. What are the problems of Pune?," the learned Mumbai investor asks.

"Problem is you! All of you - who didn't bother to open the civic science text books in your school days. All of you - who don't read "city news" in Pune newspapers. If you had been reading Marathi Newspapers, or Ravi Karandeekar's Pune Real Estate Market News Blog - you would not have thought about investing in Pune," i try to explain.

"In that case, where would have i invested?," the learned Mumbai investor asks.

"In a "private city" near Pune! Amanora, Blue Ridge, Nanded City Pune, Life Republic!!," i say.

"Why?," the learned Mumbai investor asks.

"Because, you don't like government facilities. Are you in 'Government Job'?," I ask.

"No! I am in a private company," the learned Mumbai investor says.

"Is your kid born in municipal hospital?," I ask.

"No! In a private nursing home," the learned Mumbai investor says.

"Is your kid studding in a municipal school?," I ask.

"No. In a private school - one of the best in Mumbai," the learned Mumbai investor says.

"Then why are you investing in a government city or a government fringe village - in Pune Municipal Corporation, Pimpri Chinchwad Municipal Corporation or in Wagholi and any Gram Panchayat? Invest in a private city - in an integrated 'special township' - near Pune & Pimpri Chinchwad!," I say and add,"You know? Even home buyers are deserting Pune and going for these townships!"

"Why home buyers are deserting Pune? What's wrong with Pune?," the learned Mumbai investor asks.

"Because, Pune is deteriorating and dying...no infrastructure - no roads, water cuts, power shortage, air pollution, contaminated rivers and ground water, stinking garbage, rising crime rate - from chain snatching to murder & rape , flourishing sex tourism, increasing dominance of all kinds of mafias & drug dealers, capital of all types of swindles & scams, increasing threats of terrorist attacks, unhygienic living conditions - infectious diseases like malaria - swine flue and all, growing slums, unauthorized - illegal - construction, passive citizens, no governance.....Pune is deteriorating and dying.....," I say and continue crying loudly.

The other day, at the seminar, i heard sad stories about bureaucratic negligence told by Marathi Bandhkam Vyavasayik Association (MBVA).

These Maharashrian builders are not ready to give up Pune. Or their mother land.

Like other educated Punekars, these guys, mostly qualified entrepreneurs, are not ready to migrate to USA or Australia. Not even to Gujarat!

So, poor guys didn't have any option but to seek the help of those whom they have been 'avoiding' for years. The Pune Municipal Corporation (PMC) Corporators!

Point is - we, the people, have an option. We can say 'goodbye' to the deteriorating and dying Pune. Right?

About Private Townships near Pune & Pimpri Chinchwad




View Amanora, Nanded City Pune, Blue Ridge & Life Republic, integrated townships near Pune Municipal Corporation (PMC) & Pimpri Chinchwad Municipal Corporation (PCMC) in a larger map

Related Story:


1) SUNDAY, JUNE 3, 2012

May 2012: Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs

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12 comments:

  1. Hi Ravi,

    What do you think about the "lease" clause in Amanora Park where you just lease the house for 99 years. The supposed "owner" could be asked to vacate then. It is another point that I understand that current buildings are built to last around 30 years. Also, it is fine to say that I would sell it before that, but the question is what would happen as the end is approached. Obviously the price would depreciate over time.

    Is this "lease" thing part of Government of Maharashtra's Township act? I don't see it in other townships?

    Thanks,
    Shashi

    ReplyDelete
    Replies
    1. Daer Shashibhushan,

      "Apartments at Amanora are available on a 999-year lease. The advantages of such a lease are as follows:
      1.    You become part of an accountable and controlled neighbourhood
      2.    Your rights are not affected. You can still lease, mortgage or transfer property
      3.    You can avail of a loan on your apartment"

      Amanora Park Town at Hadapsar Pune is Privately Managed

      Our ideas of "ownership" are outdated!
      One has to always remember that in Indian Republic, "Right to Property" is not a "fundamental right".

      In Indian Republic, Right to Property is only a "Constitution Right".

      Right to property
      The Constitution originally provided for the right to property under Articles 19 and 31. Article 19 guaranteed to all citizens the right to acquire, hold and dispose of property. Article 31 provided that "no person shall be deprived of his property save by authority of law." It also provided that compensation would be paid to a person whose property has been taken for public purposes.
      The provisions relating to the right to property were changed a number of times. The Forty-Forth Amendment of 1978 deleted the right to property from the list of fundamental rights[45] A new provision, Article 300-A, was added to the constitution which provided that "no person shall be deprived of his property save by authority of law". Thus if a legislature makes a law depriving a person of his property, there would be no obligation on the part of the State to pay anything as compensation. The aggrieved person shall have no right to move the court under Article 32. Thus, the right to property is no longer a fundamental right, though it is still a constitutional right. If the government appears to have acted unfairly, the action can be challenged in a court of law by citizens.[39]
      The liberalisation of the economy and the government's initiative to set up special economic zones has led to many protests by farmers and have led to calls for the reinstatement of the fundamental right to private property.[46] The Supreme Court has sent a notice to the government questioning why the right should not be brought back but in 2010 the court rejected the PIL [47]
      As in 2007 the supreme court unanimously said that the fundamental rights are a basic structure of the constitution and cannot be removed or diluted
      Fundamental Rights in India - Wikipedia, the free encyclopedia

      Delete
  2. Quote: "Because, Pune is deteriorating and dying...no infrastructure - no roads, water cuts, power shortage, air pollution, contaminated rivers and ground water, stinking garbage, rising crime rate - from chain snatching to murder & rape , flourishing sex tourism, increasing dominance of all kinds of mafias & drug dealers, capital of all types of swindles & scams, increasing threats of terrorist attacks, unhygienic living conditions - infectious diseases like malaria - swine flue and all, growing slums, unauthorized - illegal - construction, passive citizens, no governance.....Pune is deteriorating and dying.....," I say and continue crying loudly. "

    Ravi,
    Did you read my reply at Sunday, March 16, 2008 3:26:00 PM GMT+05:30 on the following page: http://ravikarandeekarsblog.blogspot.in/2008/03/hot-pune-real-estate-news-pethkar.html
    The reply was posted 4 years back. All the sins come to haunt us, Ravi. Did you think the conversion of Pune happen overnight? Admit that you are/were part (albeit a tiny one) of this racket to turn Pune into Sin City.

    ReplyDelete
    Replies
    1. Of course, since I am citizen of Pune and associated with Pune real estate market for so long, I am also responsible for the present state of Pune.

      However, I don't agree with your statement:

      I feel that people like you are responsible for ordinary Maharashtrians not getting homes in Pune. Only 92 lacs? Forget about an ordinary Maharashtraian, where is even an IT guy who earns Rs. 1 Lac PM going to get all that money with 90K EMI? This leaves only people who earn in black to purchase those appartments.

      Don't under estimate the purchasing capacity of middle class Maharashtrians & Punekar. Today, you can earn enough "white money" to buy a 1 - 3 crore home without committing crime.

      Besides IT, there are other industries and professions in which you can earn well.

      You know? The Public Relations consultant, who had organized this press conference, has recently booked a 3 BHK Flat with 2 car parks for Rs. 1.75 Crore. He is not a criminal. He is only "the best" in his profession.

      Delete
  3. I am amused that you really think that a middle class person(Maharashtrian or otherwise) can afford to buy 1-3 crore home in complete white money. Because if they do afford,as you claim, then they are anything but middle class. Foxbat is totally correct when he says that only people purchasing these flats are the ones with black money which includes small to big businessmen and government employees( of all grades). Mind you, none of these people are middle class. Unless some one has changed the definition of middle class to include people who have black money stashed away in their bathrooms !

    ReplyDelete
    Replies
    1. Dear AB Archives,
      As a real estate blogger who shares his phone number and talks to Pune property buyers spread all over the world, I know for sure that these people earn their money in a honest way, as you do.

      If you want to know how the "definition" of middle class in changing and "affordability factor" is improving, please, look at these reports:

      A report by National Council for Applied Economic Research's (NCAER) Centre for Macro Consumer Research said by 2015-16, India will be a country of 53.3 million middle class households, translating into 267 million people falling in the category.

      As per the study, which uses 'household income' as the criterion, a family with an annual income between Rs 3.4 lakh to Rs 17 lakh (at 2009-10 price levels) falls in the middle class category.

      (As per 2000-01 prices, middle class classification was based on annual income of Rs 2-10 lakh.)

      Currently India has 31.4 million middle class households (160 million individuals).

      India's middle class population to touch 267 million in 5 yrs - Economic Times

      According to a study conducted by the housing finance company, the affordability factor, which denotes the number of years' income of a family required to buy a house, has fallen from over five years in 2007 and 2008, at 5.1 years, to 4.5, 4.7 and 4.8 years during 2009, 2010, and 2011, respectively, as shown in the chart.

      It is easier to buy a dream house today than in 1995: HDFC study - Economic Times

      Delete
    2. Hi Ravi,
      Thanks for sharing that perspective. I would really like to know the age ranges and kind of professions these people come from if you do not mind. Simply because I doubt if their incomes fall in the range suggested by NCAER.
      Now coming to the report. Even if we take the household with the highest income of 17 lacs and consider, as per the report, that he will spend 50% on his own expenses, then it comes out that he can afford an EMI of around 70K per month. I am considering that the incomes quoted are after tax. Now that is an amount that could make anyone nervous especially when one thinks that he will have to pay that amount over and over for the next 180 months at least. And if the interest rates go up, it will become worse. And yes it will also mean that the concerned household will have very little by way of savings for any other future needs like retirement, child education, health emergencies etc. Does this mean that the so called middle class people are actually going out on a limb and taking such big risks to buy homes that cost around a crore ?
      Finally, though I am sceptical about the middle class purchasing power claim, I really appreciate that you share these things. It gives an idea of how there are buyers for these obscenely expensive houses (middle class or not).

      Delete
  4. Will these new townships be ready on time or will there be delays as we see in most Pune projects?

    ReplyDelete
    Replies
    1. Isn't it naive to pay in advance and expect timely possession?

      Delete
  5. Dear Ravi, Good morning ,
    I m looking for the area of pcntda moshi for buying flat. Cna you guide me how that area will grow from residential & ovberall leaving point of view

    Regards,
    Pranil

    ReplyDelete
  6. Hi Ravi..How is Manjri as an area to live? i would like to buy a 1 BHK flat.
    Also will this area appreciate in terms of real estate prices in the next 5 years?

    Regards,

    Sugeesh

    ReplyDelete