tag:blogger.com,1999:blog-5269558537262232516.post8852677251726703901..comments2024-03-29T12:35:39.036+05:30Comments on Ravi Karandeekar's Pune Real Estate Market News Blog: Pune Flat Buyers Declare War on Builder Mafia RaajRavi Karandeekarhttp://www.blogger.com/profile/01681035021606018101noreply@blogger.comBlogger41125tag:blogger.com,1999:blog-5269558537262232516.post-43316630016145595492016-07-03T18:10:04.108+05:302016-07-03T18:10:04.108+05:30Can someone tell me what are the steps to form a s...Can someone tell me what are the steps to form a society ?Sanjayhttps://www.blogger.com/profile/14560438488386079075noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-15958673565106006722016-07-03T18:09:01.996+05:302016-07-03T18:09:01.996+05:30Great work Ravi SirGreat work Ravi SirSanjayhttps://www.blogger.com/profile/14560438488386079075noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-37918069925727686782016-06-29T10:53:32.245+05:302016-06-29T10:53:32.245+05:30Surprisingly no name of XRBIA ( Hill Demolition, E...Surprisingly no name of XRBIA ( Hill Demolition, Environmental clearances , timely (non) possession. etcAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-8580543087915113972016-06-24T22:20:29.089+05:302016-06-24T22:20:29.089+05:30Came across a very well written article. Lot of th...Came across a very well written article. Lot of things have been summed up really well.<br /><br />सावधान, बुडत्याचा पाय खोलात :<br /><br />काल व्यावसायिक कारणासाठी, एका मोठ्या प्रथितयश बिल्डरला भेटायला गेलो होतो. तेव्हा आर्थिक मंदी ने ग्रासलेल्या बांधकाम क्षेत्रातील दुर्दैवाचा नवा "दशावतार" पाहायला मिळाला. आणि मन सुन्न झाले.<br /><br />मोठ्या प्रमाणात बांधकाम करून ठेवलेल्या, अवाढव्य आकार आणि किंमतीच्या सदनिकांची विक्री होत नसल्याने दस्तुरखुद्द बिल्डरनेच त्या सदनिका भाड्याने द्यायला सुरवात केली आहे आणि सर्वात महत्वाचे म्हणजे ग्राहकांना आकर्षित करण्यासाठी त्याने तिथले भाड्याचे दर हे त्या भागातील सर्वसाधारण भाड्याच्या दरांपेक्षा बरेच कमी ठेवले आहेत. या कमी भाड्याबाबत छेडले असता " रिकाम्या पडून रहाण्यापेक्षा काहीतरी उत्पन्न येईल, टॅक्स प्लस थोड्याफार कामगारांचा पगार निघेल " एवढे साधे सरळ " Linear Equation " त्यांनी मला समजावले.<br /><br />एका सर्वेक्षणानुसार, पुणे आणि परिसरातील बांधकाम व्यवसायिकांकडे तब्बल दीड ते दोन लाख सदनिका बांधून तयार आहेत पण त्यांना खरेदीदार ग्राहक मिळत नाहीयेत. अनुत्पादक कर्जाचे प्रमाण वाढल्याने बँका व आर्थिकसंस्थानी कर्ज द्यायला हात आखडता घेतला आहे आणि वसुली साठी तगादा लावला आहे आणि मोदी सरकार ने काळ्या पैश्याच्या उलाढालीचे " नरडे " बऱ्यापैकी आवळल्याने, त्या मार्गाने येणारा हक्काच्या रोख गुंतवणुकीचा " जिवंत झरा " जवळ जवळ आटला आहे.<br /><br />त्याच वेळेस, पुणे-पिंपरी-चिंचवड-तळेगावदाभाडे-पिरंगुट-मारुंजी-भूगाव-पानशेत-शिरवळ-जेजुरी-उरळीकांचन -रांजणगाव -शिरूर-मोशी या विस्तीर्ण वर्तुळात तब्बल सहा ते सात लाख सदनिका, या छोट्या आणि "सुज्ञ" गुंतवणूकदारांनी फक्त "गुंतवणूक" म्हणून घेऊन ठेवलेल्या आहेत.<br /><br />एवढ्या बिकट परिस्थितीत " सुज्ञ " गुंतवणूकदारांचे " मायबाप ", बिल्डरांनीच जर सदनिका अशा कमी दरात भाड्याने द्यायला सुरवात केली तर, या सूज्ञ गुंतवणूकदारांच्या सदनिकांना भाडेकरू मिळणे अवघड होईल किंवा या गुंतवणूकदारांना भाड्याचे दर चालू आहेत त्या पेक्षाही कमी करावे लागतील. पर्यायाने नुकसान सोसावे लागेल.<br /><br />सर्वात वाईट म्हणजे पाश्चात्य देशांप्रमाणे भाड्याने किंवा लॉन्ग-लीझ ने राहण्याचा नवा "ट्रेंड" उदयास येऊन वाढीला लागेल आणि सदनिकांची मागणी अजून कमी होईल. मागणी कमी म्हणजेच सदनिकांचे दर आणखीन कमी होतील. पर्यायाने मंदीचा विळखा आणखी घट्ट होईल.<br /><br />पुण्यातील मोक्याच्या जागांचे Rental Yield आत्ताच वार्षिक १ ते १.५ टक्के आहे. म्हणजेच सदनिका विकत घेण्याऐवजी, गुंतवणूकदाराने सदनिकेच्या किंमतीएवढे पैसे बचत खात्यात ठेवले तरी सुद्धा मिळणारे व्याज हे सदनिका भाड्याने देऊन येणाऱ्या भाड्याच्या दुपटीहून जास्त असेल तर फिक्स डिपॉझिट मध्ये मिळणारे व्याज हे येणाऱ्या भाड्याच्या तब्बल सहा ते आठ पट असेल. भारतातील बहुतेक सर्व महानगरातील परिस्थिती थोड्या फार फरकाने अशीच आहे.<br /><br />*मित्रहो, बांधकाम क्षेत्राला सर्वोत्तम गुंतवणूक समजणा-यांना, तसेच अव्वाच्या-सव्वा कर्ज काढून काहीच्या काही दराने, शहराच्या कानाकोपऱ्यात, कड्या-कपारीत, दऱ्या-खोऱ्यात, जागा मिळेल तिथे पिसटल्या सारखे सदनिका घेत सुटलेल्या बऱ्याच सैराट जणांना ही मंदी म्हणजे एक सणसणीत " श्रीमुखात " ठरेल हे मात्र नक्की.*<br />TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-17280714029629040412016-06-21T21:56:02.581+05:302016-06-21T21:56:02.581+05:30Home prices set to fall; Mumbai, Pune, Delhi set t...Home prices set to fall; Mumbai, Pune, Delhi set trend :<br /><br />http://www.financialexpress.com/article/industry/companies/home-prices-set-to-fall-mumbai-pune-delhi-set-trend/283820/TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-6750127761981068052016-06-17T23:50:45.218+05:302016-06-17T23:50:45.218+05:30How much even investors will be able to sell remai...How much even investors will be able to sell remains a big question, especially in absence of buyers due to high prices. Then there are investors who want to sell their flat but project is abandoned/halted by builder. Also, banks don't give loan easily for flats which are 10 years or older so holding on for long is not good idea either.<br /><br />And this is the precise reason why renting is such a fantastic option. The interest earned on amount paid for down-payment for buying flat is equal or more than the rent paid for same flat. So stay on rent, do some investments, lead good quality life. Pune property is not worth buying unless prices fall by atleast 50%. Better to see your money grow than throw it on a builder by buying over-priced, poor quality asset.<br /><br />India’s top builders are selling assets and refinancing loans in bid to cut down debt, but without much success :<br /><br />http://www.livemint.com/Companies/G4iYEpRQoACPKBU7nFKXgO/How-are-property-developers-dealing-with-the-debt-burden.html<br /><br />This is 2 year old article & today we see how true it is.<br />How banks help keep real estate price high :<br /><br />http://www.firstpost.com/business/economy/how-banks-help-keep-real-estate-price-high-1326211.html<br /><br />Why believing that real estate prices will never fall is a stupid idea :<br /><br />http://www.firstpost.com/business/economy/why-believing-that-real-estate-prices-will-never-fall-is-a-stupid-idea-1328437.html<br /><br />And now we see that due to such actions, not just builders but banks too are going bankrupt on account of huge NPAs.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-83930672875981742382016-06-17T23:09:01.557+05:302016-06-17T23:09:01.557+05:30Agree. And RE in Pune was driven mainly by IT whos...Agree. And RE in Pune was driven mainly by IT whose salaries now have been saturated. Also new jobs in IT are not being created like it were 4-5 years ago.<br />India's IT mostly survives on outsourcing, mainly by Americans firms. Now apart from making H1B & L1 visas expensive by $4500, layoffs are taking place in US itself, which will set ringing bells in Indian IT cos to go slow on hiring & increments. Automation is other thing which is going to hit IT hard. See this recent news -<br /><br />1 Lakh IT Jobs Shed By US Employers In A Month: Report<br /><br />http://profit.ndtv.com/news/careers/article-1-lakh-it-jobs-shed-by-us-employers-in-a-month-report-1416033TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-34350937664267466012016-06-17T00:45:40.073+05:302016-06-17T00:45:40.073+05:30Only Investors have capacity to buy flats in Good ...Only Investors have capacity to buy flats in Good Projects in Pune. Direct Buyers are either not getting Good Options (Very Few have capacity of 70-80Lakhs) on Ready or near possession or they cannot stretch their budget because average salary of Pune Flat buyers is between 30k-40K against Minimum EMI of 40K.I guess rent is a good earning source for investors because half of their inventory will be unsold for next 5 years due to rate hype created by real estate drivers and Investors in Pune.<br />Rates should fall down for sure, Lower bank interest rates can not attract buyers to leave in their own home.<br />Now it is wait and watch game between Buyers and sellers.Pune Builders Well Wisherhttps://www.blogger.com/profile/17732833842275786804noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-60466112098845187102016-06-15T15:19:36.249+05:302016-06-15T15:19:36.249+05:30I do not think Pune builders are willing to sell t...I do not think Pune builders are willing to sell their flats to direct Buyers who asked so many queries before booking flats and who may become problem for them at a later stage. When you go for final negotiation after making them count so many gaps, they will give you un-reasonable quote, so that you do not get in touch with them again.<br />Some builders are fairly reasonable and respect their end buyers also. (This is as per the Location common rate, Project Size, Builder reputation and quality of project).<br />Specially new entrants in Pune Builder Lobby need to learn real estate business from some stable builders of Pune in terms of Value for Buyers Money Vs. Un-Reasonable rates they are expecting.<br />The best part is even smaller projects are saying they have only limited inventory, but you deny to buy from given inventory, within 1 hour they will suggest your preferred inventory.<br />I feel, Pune real estate boom is over, because Properties are over priced here and Buyers (Most from IT industries) have average salary of 30-40K Per month.<br />How will they pay even 40k EMI/Month?<br />Either property Prices go down in Pune or investors will keep their flats for long who actually are responsible for not letting property prices down.<br />Thank You Ravi Sir for all your contributions and guidance through Blogs.Even you do not know, how many people you have saved from Cheaters<br />Pune Builders Well Wisherhttps://www.blogger.com/profile/17732833842275786804noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-10467487986090710432016-06-15T10:50:03.545+05:302016-06-15T10:50:03.545+05:30Ethos - Golecha wakadkar builder wakad. They get t...Ethos - Golecha wakadkar builder wakad. They get the flat booked but if you cancel the booking within 2-3 months they deduct service tax + 50Thousand (min) from the booking amount. Also, builder forces you to make a loan from their agents and only from the private banks. Builder do not prefer to have agreement on the basis of SBI. Also, if you seem to be reluctant on some terms after booking builder shows his arrogance & threats you with changed terms. Any person looking to buy home from Golecha builder I humbly advice him/her don't see this person as your option. He is absolutely fraud in white collar. Don't get under impression of his high qualification from America all other crap. Although he says they follow men with ethics, it sounds all crap when you see his true color after booking.Unknownhttps://www.blogger.com/profile/16394061728301922031noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-12877055260719429292016-06-07T22:35:08.802+05:302016-06-07T22:35:08.802+05:30Dream of Owning a House Being Shattered by Real Es...Dream of Owning a House Being Shattered by Real Estate Builders<br /><br />http://www.news18.com/videos/india/dream-of-owning-a-house-being-shattered-by-real-estate-builders-1250857.html<br /><br />Those who are suffering at the hands of crook builders, do use the link above to raise the issue in media.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-24621645473975484932016-06-07T17:06:29.399+05:302016-06-07T17:06:29.399+05:30And here goes a major builder bankrupt -
Jaypee G...And here goes a major builder bankrupt -<br /><br />Jaypee Group defaults on Rs 4,460 cr debt, payments<br /><br />Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore.<br /><br />http://zeenews.india.com/business/realestate/latest-news/jaypee-group-defaults-on-rs-4460-cr-debt-payments_1891431.html<br /><br />Greed, greed & greed. Don't know how builders can be so greedy animals ? Builder goes bankrupt but the buyers who have purchased under-construction flats will be left in lurch. Pay EMI for non-existing flat & pay rent to stay inside some flat. To be safe, buyers should buy ready possession flats with all approvals or stay on rent at fraction of cost. Don't spoil your life for crooks also called as builders.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-29728432058552093632016-06-07T15:36:25.096+05:302016-06-07T15:36:25.096+05:30Builders are getting into bigger mess now. The pri...Builders are getting into bigger mess now. The private equity in real estate has fallen by 70%, while black money is finding it's way in real estate difficult due to lot of checks to curb menace of black money has been initiated by Govt. Black money interest costs has substantially increased, due to which builders will find difficult to finance projects from black money investors. All this is actually good for end users as builders will be forced to crash property prices.<br /><br />Exclusive: PE deals in Indian real estate headed for a slowdown in 2016?<br /><br />http://www.dealstreetasia.com/stories/42702-42702/<br /><br /><br />A crackdown on black money has made the cost of capital costlier in the black economy with the lending rates having risen to as high as 34 percent, from about 24 percent a year ago, as per the study by Ambit Capital Research.<br /><br />The report said that since the Modi government assumed power there has been a clear step-up in checks around gold transactions and it has become increasingly difficult to park unaccounted cash in the form of jewellery or bullion.<br /><br />Due to various measures taken by the government to tighten the noose around black money, there has been a clear drop in the prices of land and real estate and a decline in the appetite in gold, it said.<br /><br />http://zeenews.india.com/business/news/economy/indias-black-economy-exceeds-thailand-and-argentinas-gdp-study_1891886.htmlTheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-48894357539880135232016-05-30T22:41:24.291+05:302016-05-30T22:41:24.291+05:30News of another Pune crook (builder) fooling flat ...News of another Pune crook (builder) fooling flat buyers who has now been sent to jail after flat buyers filed FIR. Builder took money but didn't construct projects.<br /><br />According to Lonikand police, the accused have bought 100 acres of land around Wagholi and initiated projects like Srushti Regency, Srushti Orbit, Srushti Sparsh and Srushti Heights. They published attractive advertisements that promised homes at zero per cent interest and affordable prices. Naturally, people fell for these properties.<br /><br />http://www.punemirror.in/pune/civic/Builders-bail-plea-rejected/articleshow/52495758.cmsTheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-83627118366628438872016-05-20T21:01:45.146+05:302016-05-20T21:01:45.146+05:30Buyers of Kul Ecoloch take legal recourse for proj...Buyers of Kul Ecoloch take legal recourse for project delay :<br /><br />https://www.youtube.com/watch?v=oA3TktWAtlsTheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-81434003962276863462016-05-13T10:42:46.977+05:302016-05-13T10:42:46.977+05:30Hello Dharam Singh!
Glad to know that there is no ...Hello Dharam Singh!<br />Glad to know that there is no illegal construction in River Residency. Please, inform Grahak Panchayat in writing with the proof. After all the report is prepared by Grahak Panchayat based on the customer complaints / survey. I am sure, if you are right, they will remove the name from the list. Ravi Karandeekarhttps://www.blogger.com/profile/01681035021606018101noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-18260608820615685592016-05-12T17:05:09.898+05:302016-05-12T17:05:09.898+05:30More home buyers are now willing to file cases aga...More home buyers are now willing to file cases against builders in NCDRC :<br /><br />Lawyer Sahil Sethi has got over 25 calls since Tuesday morning from home buyers wanting to file cases against builders in the National Consumer Disputes Redressal Commission.<br /><br />http://economictimes.indiatimes.com/wealth/real-estate/more-home-buyers-are-now-willing-to-file-cases-against-builders-in-ncdrc/articleshow/52214767.cms<br /><br />Hope Pune flat buyers who have been cheated by crook builders get inspired from Delhi-NCR flat buyers & fight for their rights. Agree that there are buyers who are fighting against crook builders like KUL, Bhujbal etc. but participation is still less than required. Hopefully, post RERA, more buyers will come forward especially when time frame for result is quite short & I am sure ABGP will play important role in this too for getting justice for buyers conned by crook builders & CREDAI.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-79972767336496877322016-05-12T16:50:37.314+05:302016-05-12T16:50:37.314+05:30Dear Ravi Sir,
Sorry to say about your blog.
Bu...Dear Ravi Sir, <br /><br />Sorry to say about your blog. <br />But I personally checked and visited the site and all the legal documents yesterday and there is no illegal construction in River Residency. <br />There Water issues in each and every society in Pune itself in summer. River Residency Phase 1 and Phase 2 amenities hand over to Flat owners of River Residency.<br />River Residency CRM team reply was quite convincing in a meeting held yesterday. <br />It's my personal suggestions to all flat owners that please check and verify all the things in ground level then only trust. <br />Thanks <br />Dharam Singh<br />N2 304<br />River Residency Dharam Singhhttps://www.blogger.com/profile/13553355572052798541noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-49827071441105530222016-05-10T20:16:22.906+05:302016-05-10T20:16:22.906+05:30I am not asking to u Mr. Monk I have question for ...I am not asking to u Mr. Monk I have question for Mr. Ravi Karandeekar. If you MR. MONK have any supportive document then only please reply otherwise don't. <br />Dharam Singhhttps://www.blogger.com/profile/13553355572052798541noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-88859519637957561902016-05-10T15:12:37.544+05:302016-05-10T15:12:37.544+05:30Why did't you hire property lawyer before buyi...Why did't you hire property lawyer before buying flat ? This is the price paid for ignorance.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-25823178483871215922016-05-10T15:01:24.546+05:302016-05-10T15:01:24.546+05:30Marvel doesn't have money, that's why proj...Marvel doesn't have money, that's why projects are incomplete. See how contractors did dharna in front of Marvel realtors office late last year which was covered by Ravi :<br /><br />http://ravikarandeekarsblog.blogspot.in/2015/11/Is-Flat-Buyers-Direct-Intervention-The-Only-Solution-for-Marvel-Realtors-Problems.html<br /><br />Marvel also has other major issues, including non-registration of it's projects in gram panchayat as several Marvel projects now are outside PMC limits. Marvel Fria is one such project. Quality has also fallen. You can see seepages in new Marvel flats now. The possession dates are regularly shifted ahead. <br /><br />Same is case with Vascon. Their Windermere possession date was 2013, now its half-way in 2016 & possession is still nowhere in sight. Corpus taken as maintenance from flat buyers is also not being handed over & this total amount runs into crores.<br /><br />Marvel, Vascon, Mittal, KUL all are having financial issues. How will work be done when contractors are not being paid ? This is the price paid by crook builders & hoarders for greed & more greed.TheMonkhttps://www.blogger.com/profile/01302024072486930340noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-76998059691969764422016-05-10T14:46:45.317+05:302016-05-10T14:46:45.317+05:30Great Job "Akhil Bharatiya Grahak Panchayat, ...Great Job "Akhil Bharatiya Grahak Panchayat, Pune"<br />Anonymoushttps://www.blogger.com/profile/04692658770310796527noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-37849520280310250382016-05-09T21:30:11.764+05:302016-05-09T21:30:11.764+05:30RAVI SIR,
I HAVE BOOKED THE FLAT IN RIVER RESIDEN...RAVI SIR, <br />I HAVE BOOKED THE FLAT IN RIVER RESIDENCY.CHIKHALI 2BHK LAST MONTH. I HAVE SEEN IN THIS REPORT THERE IS ILLEGAL CONSTRUCTION IN RIVER RESIDENCY. <br />PLEASE REPLY ON 261 FLATS AND ILLEGAL CONSTRUCTION IN THIS PROJECT. <br />DHARAM SINGH<br />PUNEDharam Singhhttps://www.blogger.com/profile/13553355572052798541noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-52295792605825594592016-05-09T09:12:59.301+05:302016-05-09T09:12:59.301+05:30Very good initiative, I hope this continues till j...Very good initiative, I hope this continues till justice is made.<br />Best wishes.Shivhttps://www.blogger.com/profile/01802721167076678883noreply@blogger.comtag:blogger.com,1999:blog-5269558537262232516.post-81193539572965543712016-05-08T18:54:15.106+05:302016-05-08T18:54:15.106+05:30Guys what about Marvel Realtors & Landmarks......Guys what about Marvel Realtors & Landmarks.... Lot of projects till incomplete....Santhttps://www.blogger.com/profile/12889769652249626753noreply@blogger.com