tag:blogger.com,1999:blog-5269558537262232516.post8374535157360256844..comments2024-03-28T14:01:25.631+05:30Comments on Ravi Karandeekar's Pune Real Estate Market News Blog: Diwali 2015 with Mr. Nitin Kulkarni of Little Earth at KiwaleRavi Karandeekarhttp://www.blogger.com/profile/01681035021606018101noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5269558537262232516.post-59723559680525457992016-08-09T15:28:47.570+05:302016-08-09T15:28:47.570+05:30I am an owner of a flat in Marvel Diva & till ...I am an owner of a flat in Marvel Diva & till 6 months back was extremely happy with Marvel, be it their product, behavior or their services. Then I got to know that these guys have spread their resources into many areas, HAVE OVER TRADED & now are facing a solid cash flow problem. The society was maintained beautifully till about 6 months ago. Now suddenly he wants to let go & hand over all expenses to the residents, giving a months notice. <br />Apart from this, as per the agreement, he has charged a one time maintenance charge, with clear details that he would be putting the amount in a separate bank account & the interest would be used to run the society. They have also mentioned that as & when the society is formed, the amount will be transferred to the society. They have also included that in case they fall short of funds they have the right to ask the flat owners for more money & IN CASE THE OWNERS REFUSE, then he could use the money collected. <br />It seems he has used all the money, without asking any flat owners or even taking their permission.<br />I want to know if we can take the Marvel guys to court & is this not a case for criminal investigation as he has frauded on money that was put in trust by us.<br />Sincerely,<br />MarziAnonymoushttps://www.blogger.com/profile/15031884936178786269noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-24371301662480802482015-11-20T09:28:49.229+05:302015-11-20T09:28:49.229+05:30Yes, TheMonk. Most of the builders in Pune do not ...Yes, TheMonk. Most of the builders in Pune do not have any type of money. Some even don't have pocket money. Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-77740007475267465862015-11-19T11:42:59.126+05:302015-11-19T11:42:59.126+05:30LoL ! Funny money. Good one.
Be it black money, wh...LoL ! Funny money. Good one.<br />Be it black money, white money or funny money, one thing which is certain is builders are running out of all such money. The NPAs in real estate sector also show it, atleast that of white money and perhaps funny money.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-744691576832840232015-11-19T11:00:34.868+05:302015-11-19T11:00:34.868+05:30To understand the policies of this government - yo...To understand the policies of this government - you have to use common sense & general knowledge.Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-49040667421257446482015-11-19T10:57:55.533+05:302015-11-19T10:57:55.533+05:30Henceforth this black money will be called funny m...Henceforth this black money will be called funny money! Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-10097911958632109282015-11-18T17:29:46.780+05:302015-11-18T17:29:46.780+05:30"Only big one can invest their black money in..."Only big one can invest their black money in real estate - as foreign direct investment."<br /><br />Again agree to certain extent. However, this FDI thing was already happening even earlier via Mauritius, but good part in this is it will be accounted money on builders books and the FDI flow will be taxed, so will the builder. Till date, in many cases, builder used to accept in cash and return with interest in cash which was tax free being black. This won't be case with FDI. The failure of REITs is good example of this.<br /><br />Also with Automatic Tax Exchange of Information now coming in, hiding money abroad to bring back as FDI is going to be tough.<br /><br />Meaning of ATEI :<br /><br />https://financialtransparency.org/issues/automatic-tax-information-exchange/<br /><br />India signs MCAA pact on automatic exchange of tax information :<br /><br />http://www.thehindu.com/news/national/india-signs-mcaa-pact-on-automatic-exchange-of-tax-information/article7279712.ece<br /><br />All these things done by current Govt will certainly help reduce the nuisance of black money in India which is overall good for country's economy. TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-18475050557847257002015-11-18T09:03:00.388+05:302015-11-18T09:03:00.388+05:30To a certain extent - yes. Government's steps ...To a certain extent - yes. Government's steps against black money has affected real estate. <br /><br />Common man finds it difficult to invest his black money. <br /><br />Only only big one can invest their black money in real estate - as foreign direct investment. <br /><br />You can say that government wants to corporatise the black money investment. Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-15973093056465517572015-11-17T22:09:20.262+05:302015-11-17T22:09:20.262+05:30New Government isn't involved in real estate a...New Government isn't involved in real estate and corruption like previous Govt. What you said is true to large extent. The black money which used to ensure that holding capacity of builders increase, is not happening now. And since sales are also not happening now, things are turning bad to worse for builders and investors, which in one way is good for end users. Some good steps are also being taken by current Govt.<br /><br />Cabinet Clears Bill to Check Benami Transactions -<br /><br />Apart from confiscation, the Bill provides for prosecution and aims to act as a major avenue for blocking generation and holding of black money in the form of benami property, especially in real estate.<br /><br />http://www.ndtv.com/india-news/cabinet-clears-bill-to-check-benami-transactions-762732<br /><br />It will now be keenly watched as to how many more builders go bankrupt by end of current financial year in March next year.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-63476918521188267002015-11-16T14:28:10.686+05:302015-11-16T14:28:10.686+05:30Hi Ravi. Not sure if u have already made this poin...Hi Ravi. Not sure if u have already made this point or not but Do you think less inflow of black money after new government may be one of the reason for real estate collapse?Gorakshahttps://www.blogger.com/profile/01608920266382351261noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-85970859798820248572015-11-16T14:08:03.133+05:302015-11-16T14:08:03.133+05:30"Overall though, the real estate market was v..."Overall though, the real estate market was very grim this Diwali. <br />Reasons are same - high prices, less affordability and concerns over delivery of the project in time." - True. <br /><br />Thanks for your wishes, TheMonk! Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-73584636004389831332015-11-15T21:35:55.732+05:302015-11-15T21:35:55.732+05:30Nice writing. It would have been nice if some late...Nice writing. It would have been nice if some latest pictures from the site would have been also posted. However, the current times are such that buying flat whose possession is couple of months away as per builder also feels risky, though it is appreciated that this builder atleast completed the basic infrastructural services before handing over the flats to buyers. <br /><br />Overall though, the real estate market was very grim this Diwali. <br />Reasons are same - high prices, less affordability and concerns over delivery of the project in time.<br /><br />Diwali fails to light up realty fortunes :<br /><br />http://www.tribuneindia.com/news/real-estate/diwali-fails-to-light-up-realty-fortunes/157746.html<br /><br /><br />Ravi,<br />Wish you and your well wishers a very happy & peaceful Diwali.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.com