Thursday, February 23, 2017

Yes! Most of the builders in Pune are unfit for booking a flat at under construction stage

In Pune real estate market every flat buyer becomes a victim of the builder. 
Including those who have got possession of their flats!:


Yes! Most of the builders in Pune are unfit for booking a flat at under construction stage .

Most of the builders in Pune don't know how to construct a housing project.

Banks know this truth.

That's why banks avoid giving loans to the builders.

Instead of that banks give home loans to the buyers.

Because banks know that the flat buyers do not know this truth.

However, after possession most of the flat buyers realize that their assumption is wrong.

Their builder didn't know how to construct a housing project.

"We assumed that since the builder has acquired the plot of land, obtained sanctions & approvals, constructed sample flat & site office, released color ads in the newspapers, put on hoarding on every road, received APF numbers from the banks - means the builder knows how to develop the housing project - means we can book a flat at the launch or at the under construction stage of the project."

"Our assumption was wrong."

"Today we are suffering because of our wrong assumption."

"Every builder in Pune is not fit for booking a flat at under construction stage."

"If we had known this before booking - we would not have become victims of the builders in Pune - and the slaves of the banks for the next 20 years."

What?

Didn't anyone tell you that most of the builders in Pune are unfit for booking a flat at under construction stage? Not even your colleague?

Read these mails. True experiences of the flat buyers.

Email One:

Dear Ravi Khandekarji,

I am regular blog reader and I like your blog very much, your opinions are really worth and add value to take decisions.
Today I am writing you to seek your advise on below issues,

I purchased a flat in Chinchwad Pune from one of the reputed builders just one year ago. During period of last one year I faced quality issues and I informed to the builder but no appropriate response received from builder. I feel these affect the life of property if not attended properly.

Heavy water leakage / seepage has lead to colour damages inside flat at multiple locations.

Substandard, poor quality internal wall painting and damaged paint due to water leak/seepage.

Water leakage is highly potential to cause short circuiting and damaging the wiring (see picture), conduits and other electric appliances make life of the occupants risky.

Main entrance door needs replacement with proper locking mechanism.

Poor quality sliding window provided in bedroom, window without seals.

Parking area provided is open to sky and exposed to occupant’s windows. Faced issue, when car was parked in the parking area, somebody has thrown dirty casual mud on the rooftop of car. It is highly unsafe to consider this area as parking area since there is possibility of damages due to thrown objects.

There are few floor tiles which seems to be not fixed properly and gives sound during movement in the flat.

The sliding of window of second room also doesn't not have bearing due to which it has sticky movement.

Water leakage in bathrooms.

Above concerns reported to site office in past (many occasions) and raised complaint officially but no serious response from concerned authorities to resolve these issues.

Kindly find attached self-explanatory pictures which gives more clear idea about condition of flat. Deficiencies and flaws in the construction works which aroused just in span of one year of construction work which shows poor quality of construction work.

Please advise me, if builder will not respond to these concerns then what I should do?

Regards,
Email Two:

Dear Sir,

I have purchased the flat in Pimpri, Pune from Builder in 2014 and we got the possession in January 2015.

There is improper finishing work and low quality of construction.

My flat is on top floor and now in rainy season water leakage is there in the bedroom walls and seepage is there.

I complained to builder and did mail communication also but he is not taking it seriously.

He is saying that, it’s may be due to heavy rain, I will go and check then will see what can I do?

He is just saying like this and spending the time without any action.

Still no members are getting Municipality tax and there is no society formation.

Also there is lot of works pending in common area of building such as, Water tank leakage, terrace door etc.

I am seeking your advice for further step. I will be thankful if you give advice to take further steps.

Thanks & Regards,

Email Three:

Hello Sir,

We at Axxxxxxxxx Exxx, Keshav Nagar , Mundhwa, Pune are facing lots of problems like Bad roads, no drinking water, poor construction quality etc.

Can you guide us on how we can get it done by builder or from Gram panchayat (for roads).

Regards,

Email Four:

Dear Ravi,

Thanks for responding to my email.

Let me tell you in details. The builder initially collected some maintenance amount during purchase of flat which exhausted in year 2014.

The flat owners paid the maintenance amount as per the Sq. Ft. area rates decided by the builder.

The services provided by builder while he maintaining the society was useless and flat owners were fed up with the same.

Flat buyers also have to take many follow-up with builder for getting small small work done.

The builder fitted systems of local brand for example lift, fabrication work, Incomplete compound wall, Painting not done, Drainage chambers not prepared properly, Construction not done properly, Main Gate not prepared properly...etc whose huge maintenance cost started coming in new building from 3rd years onwards.

Because of cheap product used & quality of services, the maintenance amount started getting exhausted as said by builders in year 2014 and he started demanding more money.

After some time builder stopped maintaining the society and he told to do all things on your own to flat owners but did not handed over the legal right of the society.

At last flat buyers started collecting maintenance amount from each flat owners and went ahead to maintain the society on their own.

The flat owners are still living in the same flat with lack of basic amenities. The club house, garden and basic infrastructure to be provided are still not provided till now and the builder has not handed over the society.

Builder has other construction going on for other building but he takes around 4 years to complete a building of 40 flats. The total building may be around 6 in numbers. The construction is going on from year 2007 and he till now completed 2 building of 80 flats and other work is still going on.

Flat owners started staying in first building from year 2010 without possession letter and NOC provided by builder and in 2nd building from Year 2014.

Already 5-6 years have crossed till now from people staying in the building.

Builders once said that he will complete all building and then only get Occupancy certificate (OC) and not phase wise.

Flat owners of old building have still not received the legal rights of flat, basic amenities, and worried when they are going to get this basic amenities whose amount they have already paid long back.

Builder will take another 4-5 years to complete the remaining building.

Low quality of work, defective systems fitted and incomplete work has also increased the maintenance amount of flat owners to a huge extend.

It is a request to you to include his name in the default list of builder for not handing over the society from last so many years and submit for legal action commonly with all other builders from pune.

With regards,

How banks are exploiting the flat buyers:


Just imagine what would have happened if a bank had given a loan to any builder mentioned above!

No one would have purchased leaking & seeping ready possession flat which has rattling tiles, incomplete amenities and no completion & occupancy certificate. Right?

Then, obviously, the bank would have been in loss. Right?

Against this - Look! How profitable & safe it is to give loans to the home buyers!!

A homebuyer will keep on complaining about leakage & seepage, rattling tiles, incomplete amenities, no OC & CC, no society formation, etc.

But the flat buyer will keep on paying home loan EMI for the next 20 years of the flat whose legal owner is still his builder. Because the builder hasn't done the conveyance!

Still, every flat buyer believes that he should book a flat in any under construction project which is approved by the bank!


How RERA is the deadly trap:


You know? In the last 10 years, everyday I receive letters about poor construction quality.

And I am sure, even after the implementation of RERA in Maharashtra - I will keep on receiving such letters. Perhaps, more.

Because, RERA will offer false feeling of safety to the first time flat buyers and they will not bother to consider - "Is this builder fit for booking a flat at under construction stage?" and, for sure, will become victims of Pune builders.

Ask any builder in Pune. His replay would be - RERA is good for real estate industry. After appointment of regulator every industry has grown substantially!

Related Stories:


1) The Case of Suyog Nisarg at Wagholi, Pune

2) The Case of Suyog Lucky Homes at Wagholi, Pune

3) One flat buyer in KUL Ecoloch Mahalunge filed an FIR against the builder

4) Lalit Kumar Jain warned - if a KUL Ecoloch flat buyer commits suicide, you are responsible

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Wednesday, February 22, 2017

Delayed flat possession is a well planned crime

"Chhe Mahine Ka Delay To Chalta Hai":


Kaajal Shaikh (Right) of Pune tech startup which is creating a digital product for victims of delayed flat possession & Samarth Singh of Velocita Brand Consultant (3rd from the left) 

You know what? Even before launching the project, your builder had planned to delay possession of your flat.

When you ask for the date of possession, very casually the salesman commits some date.

With the same casualness, you accept the flat possession date and tell yourself - "Chhe Mahine Ka Delay to Hota Hi Hai".

At the time of registration of flat agreement - you notice that the date mentioned in the agreement is not the same date the salesman had mentioned when you booked the flat.

"December 2017 is only for the agreement - actually you will get possession in June 2017 - as our sales executive had told you at the time of booking," the builder's representative convinces you.

"That's okay! But what is this? You have mentioned 6 months grace period from December 2017 - means June 2018 - this is unacceptable," you try to protest.

"This is just an agreement. A legal document. We have to keep some buffer period to avoid legal complications. A standard industry practice. But the flat possession is planned much earlier. Just the same date our sales manager had given," the builder's representative assures.

After this type of conversation, very rarely, a flat buyer refuses to sign the agreement and leaves the registration office.

"Chhe Mahine Ka Delay To Chalta Hai - but don't delay possession by a year," a flat buyers begs & signs the agreement.

Thanking you for being practical, the builder's representative says,"We are corporate builders. Big brand in Pune real estate market. We are professional. You know what those small builders do? They don't mention possession date in the agreement. They just write - possession in 24 months or possession in 36 months - from the date of agreement. The agreement done in February 2015 & the agreement done in 2017 has the same clause - possession in 24 or 36 months!! We are not like them! We are corporate"

"Yes! I know. That's why I had booked a flat with you. But be sure that possession is in time," says the flat buyer.

"Sure. We are well known for timely possession," says the builder's representative.

"But one of my colleagues told me that the possession of your last project was delayed," the flat buyer expresses his concern.

"Oh! That was because of certain circumstances. Which were beyond our control. Kabhi Kabhi Hota Hai. Vaise Bhi - Chhe Mahine Ka Delay To Chalta Hai. Right?," says the builder's representative

"Yes, Chhe Mahine Ka Delay To Chalta Hai - but not more than that!," says a flat buyer.

At Velocita Brand Consultants offices, most of the victims of delayed flat possession realized that delayed possession was not an accident or a result of some unfortunate incident or unforeseen circumstances.

Way before launching the project, their builder had planned to commit this crime against the flat buyers.

Their builder could commit this crime only because of their attitude about flat possession - "Chhe Mahine Ka Delay To Chalta Hai"

What say you?

Do you believe in "Chhe Mahine Ka Delay To Chalta Hai"?

If yes, be ready to become a victim of your builder.

If not, still, be ready to become a victim of your builder.

Because, delayed flat possession is a well planned crime. And Pune builders are expert in committing this crime against the flat buyers.

Certainly, demonetisation is just an excuse to delay flat possession in 2017 - 18.

Related Story:


2) 5 Objections Against Maharashtra RERA Rules

1) What to do if your builder delays project citing demonetization?

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Friday, February 17, 2017

Victims of delayed flat possession - you are invited!

Saturday, 18th February 2017, 11am – 1230pm,
Velocita Brand Consultants,
6th Floor, RamSukh House, Next to Sancheti Hospital,
Shivaji Nagar 411005:



Hello! A tech startup based out of Pune is working on creating a digital product to bring home buyers together on a platform to connect and engage with not only other buyers but also potentially their builder.

A research team on this project, is looking to connect with consumers in Pune who have booked a home but are stuck with delayed possession.

Whether your possession is delayed by a few months to a couple of years and you may have tried many ways to contact your builder or have taken legal steps, please, reach out.

The research team would like to meet you, to discuss your journey and the problems faced by you and your family. They are seeking valuable insight and inputs.

The focus group discussion will take place on Saturday, the 18th of February, at 11am – 1230pm at - Velocita Brand Consultants - 6th Floor RamSukh House, Next to Sancheti Hospital, Shivaji Nagar - 411005

Please confirm your participation.

Call - Kaajal Shaikh - 8308804957




Related Stories:


1) Don't book a flat in Pune till RERA is implemented

2) 5 Objections Against Maharashtra RERA Rules

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Thursday, February 16, 2017

Like Hinjewadi Techie Boys - I don’t Own a Flat - So What?

You only live once...



Hi Ravi,

I regularly follow your blog and I like your sarcastic style of writing. I have read several of your articles where you have highlighted the importance of living a quality life versus living a life under pressure to own a house as soon as possible at any cost in huge debt.

I think in life we have to make certain choices where we cannot achieve what others can because our circumstances are different. Mine is another such case.

I am an IT engineer and a daughter and a wife.

I am the only child of my parents so their entire responsibility is on me.

My parents are simple middle class people who worked hard, saved every penny so that they can give me a comfortable life and a good education.

They sacrificed nearly every personal need of theirs so that I can go to a convent school, become an engineer and have a happy childhood with all worldly comforts. Beautiful clothes, birthday gifts, toys, ice creams, picnics. Everything was for me and only me.

Until I graduated we lived in the heart of Pune city in our very old ancestral rented home.

They did not even buy a new flat within the city limits although they could have afforded it.

If they had bought that flat they would have had to cut out almost all the comforts from my life and a quality education.

So they bought a cheap apartment on the outskirts in a pathetic locality (just as a backup) while we continued to live in our ancestral home.

That 1.5 lakh difference mattered to them. And they made a choice. Me.

When I graduated eight years back we had to move out of our ancestral home.

Our backup apartment is on 3rd floor with no lift and my mother has health issues because of which she cannot climb those 3 set of stairs.

So eight years back, at the age of 22, I had to think about our future accommodation.

My starting salary at that time was 24K and rent was 7.5k.

My father retired around the same time with a government pension.

There was not enough money to buy a new flat within the city.

Options:


So there were two options.

Option 1: Save those 7.5k of rent for my future life and let my parents stay on the 3rd floor in a sad locality.

If I save the rent money I may even be able to buy a home inside the city in 7-8 years.

Or in that money I can have a lavish wedding.

Whatever!

My mother’s diabetes had impaired her health and climbing stairs would have been extremely difficult. She compromised saying “I won’t get out of the house much so I don’t have to climb the stairs”. From age 55 she would have been trapped in a house for months like a caged animal.

My father too was old. Neighbours were not nice. Water supply problems were there. Medical facilities, our relatives and all the other things that we were used to would have been unreachable for us.

Parents were ready (as always) to live that life as of course they don’t want their daughter to spend 7.5k every month.

Our scrupulous traditional middle class parents will never touch their daughter’s money!

Option 2: Spend the rent money, I will have fewer savings and let my parents live a decent life.

All their life they sacrificed and adjusted.

Don’t they deserve a good life at least during their last years?

Importance of TIME in life! YOLO!! (You only live once)

My parents are not going to have these last (healthy) years again!! Soon they will cross mid sixties after which they will be too old to even get out of the house.

This is the time window (55 to 65 years) when I can give them the lifestyle they deserve as the proud parents of a highly qualified daughter. So I take the decision and rent out an apartment (against my parents wishes).

Our backup apartment stays locked.

Eight years have passed and option 2 has worked out really really well!

How?

We live in a beautiful spot in Kothrud surrounded by greenery and beautiful bungalows.

My mother goes for walks every day since we live on the ground floor. She enjoys going to the market and being able to live a normal life.

My father is thrilled as there is a katta nearby where all the retired members like him meet in the evening.

All our relatives live nearby.

We live in a 30 year old 1 BHK and the floor tiles belong to the 70s era.

But the people here are so friendly we live like one big family.

I can get a flat on rent in a high rise in a cosmopolitan atmosphere in Baner or Wakad (where I would be very happy btw J ).

But here we are surrounded by Marathi families like ours.

There is an excellent hospital nearby.

The convenience, homeliness and the safety of the neighbourhood are important to me.

The society does not have amenities like swimming pool, club house but my home is filled with happiness.

Priorities:


Years passed, I got promotions and salary increased. I was easily getting home loan. 1 BHK was a piece of cake and 2 BHK was also possible.

But turns out not buying a flat was very wise.

There were many things that had to be handled first.

We planned our monthly budget well, saved most of my salary, spent smartly and also had a little bit of fun.

Four years back my mother had a heart attack. Several hospitalizations and a bypass surgery set me back by around 8 lakhs.

But that was easily managed. I was never tense about money and my parents were relieved that we don’t have to borrow from anyone.

I had managed my finances so well that I gifted my mother a pair of gold earrings 2 months after the surgery for a speedy recovery!

I am happy too!

I was able to save for my own wedding.
Since our wedding expenses were well within our reach we were able to enjoy it completely.

I have also been able to fulfill some of my dreams.
I am passionate about travelling and I have been to my dream destinations Himachal Pradesh, Kerala, Dubai and New York.

In these eight years I have lived a fulfilling life.
Dining out in fine restaurants, going for shopping in malls are some of the things we never thought we would do.

My folks are happy that I am able to have fun and don’t have to scrimp and save like a person in debt.
I do not frown like a debt ridden son when some unexpected expense turns up.
I have seen the scenes from movies\tv serials where the son reproaches his parents when any expense comes up as he has a big loan and says “Baba atta kasa shakya ahe! Tumhala kalat nahi ka loan ahe”. Way to go son!

This is what you give your parents in return for their entire life spent on you!!
Unbelievably, I have seen this scene in real life also in many homes!!!
These guys have a 2 BHK and a Sedan worth 10 lakhs but they will frown upon if their parents\wife have to have something basic.

There was a time when my parents made a choice between me and their dream home.

When I grew up I made a similar choice.

It’s okay if I don’t have my own flat at the age of 26 like IT engineers do.

I will have it when I am 35 or 40 years old.

But these 10 years of my life were important to me.

Spending on top notch medical treatment, living comfortably, travelling around the world, saving for my wedding, supporting my husband were my top priority.

All the while I am saving money aside for my dream house too.
I am halfway there, slowly and steadily I will get there.
You must work out a plan that suits your circumstances and live happily because you only live once.

Regards,

Are girls better home buyers than boys?:


In the last 10 years, I have talked to thousands of young first time flat buyers in Pune.

Out of them most of the boys were babies. Naive. Lacking worldly experience and understanding. Selfish. Irresponsible.

Against that the girls were wise, mature, responsible & caring ladies.

Like the girl in the above letter.

I am very much convinced that girls are not only better homemakers. The girls are smart homebuyers too.

What say you? Share your views in the comments, please.

Related Stories:


1) Intellectually Weaker Section (IWS) of Hinjewadi IT Engineers can learn a lot from this girl

2) Little Earth Covai Retirement Community Opens Admissions! Now, daughters can pamper their parents

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Wednesday, February 15, 2017

Regulator for co-operative housing societies?

Maharashtra government has proposed setting up a separate regulatory authority to oversee housing society affairs and resolve grievances by drafting a separate chapter dedicated to housing in the Cooperatives Act:



1) The new chapter will chalk out guiding principles for dispute redressal and give judicial powers to the regulatory authority so that people don't approach court over minor matters.

2) The mandate of the committee includes exploring effective laws and efficient procedure to help society members achieve the deemed conveyance (ownership) of the piece of land without any hindrance from builders.

3) The notification proposes to completely change the existing norms for housing society elections, besides suggesting a clear-cut guideline for management, conducting repairing works and deal with public grievances in day to day society affairs. It also suggests doing away with old laws that have become redundant.

4) The notification also suggested that the new Act should take care of the needs of not just big housing societies and townships, but also bungalow apartments and open plots.

Click here to read more

Maharashtra Government's Notification:




Related Stories:


1) Don't book a flat in Pune till RERA is implemented

2) 5 Objections Against Maharashtra RERA Rules

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Tuesday, February 14, 2017

Don't book a flat in Pune till RERA is implemented

Important tip for the first time home buyers in Pune real estate market - Don't book a flat in Pune & Pimpri Chinchwad Municipal Corporation limits till RERA - Real Estate (Regulation and Development) Act, 2016 - is implemented in Maharashtra:



Hi Ravi Sir,
I got your reference from one of my friend.
I am looking for my first home and I am working in Software company in Yerwada.
My budget to buy 2/3 bhk flat is 60lac.
I got two properties: 29 gold coast and Skyway Sereno.
Both the properties are in my budget. Should I book there ? Or any other suggestions.

Regards

Like the above email, everyday you write to me at ravikarandeekar@ravikarandeekar.com to seek my advice about booking a flat in some project in Pune real estate market.

You short list projects on 2 parameters. 1) Location & 2) Budget.

You write to me because you are aware that you can not make your decision of booking a flat only on location & budget.

You have to consider a couple of more important parameters.

And I admire you for your awareness.

I feel honored to share my views about your shortlisted projects.

However, at this point of time, I have to remind you again & again about RERA - Real Estate (Regulation and Development) Act, 2016.

Have you read my blog on Maharashtra RERA Rules?

Are you aware that if approved as published, Maharashtra RERA Rules will give legal authority to the builders to dominate, victimize & intimidate flat buyers in Maharashtra?

Most of the time your reply is - No. I am not aware about RERA. I am not aware that Maharashtra RERA Rules are against flat buyers.

Okay. Being dumb is not a crime. So don't punish yourself. Instead of that learn about RERA. You will find original English & Marathi RERA Rules and 5 objections against Maharashtra RERA Rules on my blog.

After reading my blog - you will realize that you should not book a flat till Maharashtra Government finalizes the RERA Rules.

And then you have to confirm that Maharashtra RERA Rules are as per Real Estate (Regulation and Development) Act, 2016 passed by the Indian Parliament.

It means that you can book a flat only after the confirming that Maharashtra RERA offers protection to the flat buyers.

If Maharashtra RERA is a mockery of RERA Act passed by the Central Government - if it is diluted - then instead of booking a flat - you have to come on the road and start Andolan & go to court against Maharashtra Government.

Since the deadline for the implementation of RERA is April 30, 2017 - in the months of February, March & April in 2017 - you should not even think of booking a flat in Pune real estate market.

I keep on telling this to everyone who writes to me. I also share these links -

1) Centre nudges states to notify Real Estate Regulation and Development Act rules by May 1

2) States can’t dilute Real Estate Act; Shri M.Venkaiah Naidu warns of public outcry

3) Planning to buy a house? Wait till May 2017

4) Wait for one more year before you can seek shelter under Real Estate Act

5) Protection At Last

6) What does real estate Act change for you?

7) How the RERA Act is Changing Real Estate in India

8) 5 Objections Against Maharashtra RERA Rules

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To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Monday, February 13, 2017

Treat your builder like a stray dog

Builders are nothing but filthy animals:



Saturday & Sunday mornings I visit projects and talk to the flat buyers. I enjoy talking to the flat buyers who are living in their new projects for more than 6 months. Because now their honeymoon period is over and they have become completely aware about the reality. In these meetings I learn a lot from these awakened flat buyers. And you know what? They pay me for learning from them!

"When those who want to buy a flat in Pune - pay thousands of rupees for my advice - why do you pay me for learning from you?," once I asked.

"Because we can reach them - those who want to own a flat - through you! We don't want them to make the same mistakes we have made!!," one awakened flat buyer in some project told me.

"Mistakes - for example?," I asked.

"Most of the people who want to buy a flat in Pune are under the impression that a builder is their best friend. The builder is the only person who gives you permanent shelter. The builder is the only person who can fulfil your dream of homeownership. We assume that our best friend - the builder - knows how to develop the housing project. That's why when we book a flat - we consider only 2 things - the location & the property price. But after booking a flat - by the time you get flat possession - you realize that your builder is neither a builder nor a human being - your builder is nothing but a filthy animal!," the awakened flat buyer said.

"A filthy animal!?," I said.

"Yes! Like a stray dog!! Tell me - who becomes a builder? The one who can not become anything. The one who has no employable skill set. You better go and make them aware that they should treat their builder like a dog. Your builder will pretend that he is a lion. But, from a gunda at the corner to the commissioner, everyone in Pune knows who your builder really is - a stray dog - and they treat him like a stray dog. Only we - naive flat buyers - think that our builder is a human being - a businessman. Stop it. Treat your builder like a stray dog. Train him...reward him....reprimand him....," the awakened flat buyer said.

What say you? Do you treat your builder like a stray dog? Share your views in the comments.

Related Stories:


1) Sad story of a son who purchased a flat in Sus

2) Take steps to prevent Pune flat buyer suicides

3) The best investment opportunity in Pune - Zero Down Payment. Assured Appreciation

4) Who needs RERA!

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Sunday, February 12, 2017

The mystery of 45 Nirvana Hills flat buyers meet

Selfies never lie:


Ravi Karandeekar, 91 98600 44110, visits 45 Nirvana Hills by Kumar Builders KUL at Paud Phata, Kothrud, Pune on 11th February 2017

Where is everyone? I asked the security at the entrance of 45 Nirvana Hills at Paud Phata.

Everyone? Who? The security asked.

The flat buyers. I said.

Why would they be here? The security asked.

For the meeting. I said.

Are you a flat buyer? The security asked.

No. Then why are you here? The security asked.

Some lady invited me for the flat buyers meeting. I attended the meeting. Then I visited the show flats. And came down in the temporary lift. I told the security.

Who was with you in the lift? The security asked.

No one. Only a security guard & I. I was terrified to take that temporary lift. I didn't join others. I found it too risky to join 4 others in that temporary lift. I explained.

But you haven't yet entered the building. How can you come down if you haven't been up? The security said.

I have been up there. Approximately 2 hours ago. Around 11.15. I signed in this register. Check it. I requested.

What is your name? The security asked.

Ravi Karandeekar. 9860044110. I said.

Look...your name isn't here in the register. The security said.

It must be there. Because whatever I told you - has happened. Look at this selfie. I took it in there. At the reception counter. I claimed.

Okay. Tell me what happened at the meeting? The security asked.

Your representative shared the good news with the flat buyers. I said.

What was the good news? The security asked.

You will get a possession of your flat in the mid of 18 - announced your representative - Kumar Builders have appointed a new very efficient contractor to complete the construction of 45 Nirvana Hills. I shared the good news with the security.

Mid 18 means? The security asked.

Obviously 2018. I said.

Sir, you are hallucinating. You better go home & rest. The security said.

I came out of Kumar Builders' 45 Nirvana Hills and called the number of the lady who had invited me for the meeting.

Not believing in the automated announcement - I called two three times - but every time I heard the same thing. The number you are trying to call is permanently disconnected.

Related Story:


1) WOMAN FALLS TO DEATH FROM UNDER-CONSTRUCTION BLDG

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Wednesday, February 8, 2017

DSK is struggling to get his ducks in a row

A conversation with DSK:



I was considering myself as a self made man. But, recently, I have accepted that I am just a puppet in the hands of God. However, my Sade-Sati will be over soon & very quickly things will fall into place. DSK of D S Kulkarni Developers Ltd. said.

But my blog readers who are your fixed deposit holders admire your efforts. They appreciate you for meeting & listening to them. They are seriously considering your solutions. And they believe that you will come out of this with flying colors. I said.

My 14,000 fixed deposit holders are my partners. My real estate business runs on 3 wheels. 1) Bank loans 2) Fixed Deposits 3) Booking amount & home loan disbursements of the flat buyers.

To overcome the slowdown in real estate business, at the end of last year, I came with DSK Master Plan and offered 1 free home on every one home you purchased and got nearly 800 bookings. But negative sentiments took it's toll. Most of the bookings were cancelled.

And then I met with an accident. I survived. But fixed deposit holders panicked. Some 100 core deposits were withdrawn.

Then came the demonetisation - which worsened the situation.

But I told my partners - my fixed deposit holders - for a time being - I am not in a position to pay your interest or return your deposits. But don't worry. Wait for sometime. If you can't - no problem. Instead of your deposit amount - I can give you a flat - a car - choice is yours.

You know? Most of my partners - fixed deposit holders - said that - "DSK, we trust you" - "DSK, we are with you". DSK said.

Yes. I know. A few minutes ago, in your reception, a few fixed deposit holders expressed the same sentiments. I said.

They are with me for the last 30 - 35 years. They have always received their interest payments on time. They know that I am grateful for their faith in me & for their support in the growth of my business empire.

They know that - even now - how I am trying my best to bring in some a few thousand crores investment from London. In these trying circumstances - what I need is your support. DSK said.

That's why I am here! And I am very much impressed with your passion - your fighting spirit - to overcome the current obstacles. Your frank, honest & direct words have won my heart. I told DSK and took his leave.

After the conversation with DSK, I felt that I was prepared to advice my reader who had asked me - Should I accept a flat in DSK Sadaphuli at Talegaon or at DSK Nandanvan / Mayurban / Chaitraban / Pushpaban at Pirangut against my fixed deposit?

In the last few days, along with all these projects I have visited Hi Bliss Bungalow Plots at DSK Dream City on Solapur Road, DSK Vedant near Magarpatta and DSK Nabhangan - DSK T 35 - DSK Aanandghan at DSK Vishwa Dhayari on Sinhagad Road. Here is my report -

Visit DSK Sadaphuli 1 BHK & 2 BHK Flats at Varale Talegaon Dabhade:


There was no site sales office at DSK Sadaphuli at Varale Village. So I visited the site engineers' office and requested him to show me the flats available for sale.

Out of the 3 buildings - A 1 & B Buildings are 100% sold out - A building is 10% booked - the engineer told me and asked - "What is your requirement?".

When I told him about 'a flat against the fixed deposit offer', he told me that I should go for a 1 BHK Flat which costs around 30 lakhs.

Then the site engineers took me to the 2nd floor of the A Building. A couple of people were working at the site. RCC structure, brick work of the entire building was ready and external plaster was going on.

Remaining work - internal civic, electrical & plumbing work, site infrastructure, installation of lifts, development of amenities etc - will be complete in 6 - 12 months - the engineer said.

When I asked him why are there 2 clubhouses - he told me that - for the 'technical reasons' 3 buildings in Sadaphuli are shown as 2 different projects - which share a common main entrance!

Most of the flats in Sadaphuli are booked by Mumbai investors. As a weekend home - second home. Pollution free environment & greenery are the main attractions.

Sadaphuli has a good potential for appreciation because it is located on the Proposed D P Highway which will connect Chakan to old Mumbai Pune Highway. The engineer said.

"Means a weekend home in Sadaphuli will eventually become a highway home!" - I said. "Yes!" - said the site engineer.

Varale Village is on the banks of highly polluted Indrayani River. Villagers use the river water only for the farming & domestic usage. They don't drink it.


Visit 1) DSK Nandanvan, 2) DSK Mayurban, 3) DSK Chaitraban, 4) DSK Pushpaban at Aditya Nisarg, Pirangut:


There was a salesperson at DSK Nandanvan Pirangut. I told him about the offer. A flat against 30 lakh fixed deposit.

He showed me the sample flat at DSK Nandanvan. Gave me a quotation of a 1 BHK flat for 34.98 Lakhs at DSK Pushpaban, next to DSK Mayurban. Possession December 2018.

At DSK Nandanvan site a couple of workers were cutting marble for the window seals.

The salesperson offered me to show the adjoining DSK projects - DSK Mayurban and a twin project - DSK Chaitraban & DSK Pushpaban. Of course, there isn't much to see - RCC structure of DSK Mayurban is ready upto some 8th - 9th floors - a plinth of DSK Chaitraban & DSK Pushpaban is ready - the salesperson told me.

I thanked for the offer & told him not to bother.

I visited the stalled sites of DSK Mayurban, DSK Chaitraban & DSK Pushpaban. Then walked down to Pirangut gaon. Wondering about the fixed deposit holders and flat buyers of DSK.


Visit D S Kulkarni Developers' 1) DSK Vishwa T35, 2) DSK Nabhangan, 3) DSK Aanandghan, at DSK Vishwa Dhayari, on Sinhagad Road:


After visiting DSK Sadaphuli at Varale Talegaon & 1) DSK Nandanvan, 2) DSK Mayurban, 3) DSK Chaitraban, 4) DSK Pushpaban at Aditya Nisarg, Pirangut, I was curious to visit DSK Vishwa T35, DSK Nabhangan & DSK Aanandghan at DSK Vishwa at Dhayari on Sinhagad Road.

In December 2013, I have written a blog on the launch of DSK Anandghan. But I have never visited DSK T35 & DSK Nabhangan - which were launched in DSK Master Plan event in December 2015.

On the day I visited DSK Vishwa, there was a staff meeting at the head office of D S Kulkarni Developers. There was no salesperson at the marketing office. So I just looked around, took some photos & had a good talk with the few real estate agents in DSK Vishwa. All of them were DSK fans.

One real estate agent told me that Godrej has purchased DSK T35 project. DSK Dream City is the main reason for the cash crunch - of course, slow down - lack of bookings - added fuel to it - the other agent said. It's difficult to do real estate business without taking politicians' money - some agent said. One agent blamed DSK for charging irrationally high property rates. But all of them were sure that DSK will come out well.

Site of DSK Vishwa T35 at DSK Vishwa Dhayari
Site of DSK Vishwa T35 at DSK Vishwa Dhayari
Site of DSK Nabhangan at DSK Vishwa
Site of DSK Nabhangan at DSK Vishwa
Site of DSK Nabhangan at DSK Vishwa from the top terrace of DSK Varun - Pavan Society
Site of DSK Nabhangan at DSK Vishwa from the top terrace of DSK Varun - Pavan Society
Site of DSK Nabhangan at DSK Vishwa from the top terrace of DSK Varun - Pavan Society
Site of DSK Nabhangan at DSK Vishwa from the top terrace of DSK Varun - Pavan Society
DSK Varun - Pavan Society at DSK Vishwa Dhayari
On the notice board of DSK Varun - Pavan Society at DSK Vishwa Dhayari
At DSK Vishwa Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Saptasur at DSK Vishwa Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
DSK Aanandghan, at DSK Vishwa, Dhayari
At DSK Vishwa Dhayari
At DSK Vishwa Dhayari

Visit Hi Bliss Bungalow Plots & Waterfall Residences at DSK Dream City on Pune Solapur Highway:


I love the concept of DSK Dream City. I enjoy meeting salesperson at DSK Dream City. I admire his passion & professionalism. I enjoy the golf cart ride to the site of Waterfall Residences at DSK Dream City. But this time I visited DSK Dream City for Hi Bliss Bungalow Plots.

The location of Hi Bliss Bungalow Plots is very premium. Near the dancing fountain at the beginning of DSK Dream City. Site development work was going on when I visited it.

On the plot of approximately 25 acres, DSK has launched 165 bungalow plots. Sizes are in the range of 3600 sq ft to 9500 sq ft. Approximate rate is 3,500 per sq ft. All inclusive prices of the plots are Rs. 1.3 Crore onward.

I was glad to see the construction activities at the Waterfall Residences.


Visit DSK Vedant opposite DSK Sundarban behind Amanora Town Center Hadapsar:



While coming back from DSK Dream City, I visited DSK Vedant. A security guard was there at the site. I am here to check the construction progress - I told him. He thought that I had booked a flat.

See this....how thick are these steel roads.....truck loads of cement & thousands of these thick steel bars are gone into that foundation of the building - pointing at the plinth of Vedant he said.

Construction is stalled for a long time....but don't worry....don't think of cancelling your booking.....DSK saheb will construct these buildings.....money is the problem....but his niyyat is good...the security guard said.

Should I accept a flat against my fixed deposit with DSK?


Can you guess what advice I would have given to my reader who asked me - "Ravi Karandeekar, should I accept a flat in DSK Sadaphuli at Talegaon or at DSK Nandanvan / Mayurban / Chaitraban / Pushpaban at Pirangut against my fixed deposit?"

What would be your advice if some fixed deposit holder asked you the same question?

Please, share your views in the comments.

Related Story:


1) Investing in DSK Dream City Pune

Subscribe for Free!


To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

Feel free to call me:


I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001