<!-- Facebook Pixel Code --> <script> !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '351567535614080'); fbq('track', 'PageView'); </script> <noscript><img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=351567535614080&ev=PageView&noscript=1" /></noscript> <!-- End Facebook Pixel Code -->

Sunday, March 2, 2008

Hot Pune Real Estate News:
Pethkar Projects launches Samrajya, township with swiming pool in Balwantpuram at ShivtirhtNagar on Paud Road in Kothrud

Township in the heart of the city:

Mindspace Realty's Queenstown and Elpro Estates' The Metropolitan, launched in the last couple weeks, are in the heart of Chinchwad. Amit Enterprises' (promoters of Amit's Bloomfield at Ambegaon) Treasure Park and 9 Green Park are in the heart of Sant Nagar (Satara Road) and Sahakar Nagar. And now, Samrajya, a new phase of Balwantpuram, a township with swimming pool, clubhouse and all amenities in ShivtirthNagar is launched on Paud Road in Kothrud!

Property rates in Pune real estate market:

Pune is doing well! And Punekars are coming back to Pune. When you know how valuable it is to stay in the neighborhood of your origin, property rate is not a problem. Pune is happy to pay a good property rate.
Rs.5,600 to 5,800 per sq.ft. at Balawantpuram Samrajya on Paud Road in Kothrud.
Rs.5,600 per sq.ft. at Amit's Treasure Park and 9 Green Park on Satara Road and Sahakar Nagar.
In the heart of Chinchwad, Rs.2,800 to 3,500 at The Metropolitan and Rs.3,200 at Queenstown.
At the current real estate price, Punekars do not mind paying 70 lakhs to 1 crore for 3 bhk flat in these townships!

View Larger Map

Quality Construction and Customer Satisfaction:

Pethkar Projects is a typical Pune real estate developer, who does not need a marketing hype and advertising blitz to boost the property rate or get the bookings.

Pethkar Projects' Balwantpuram, a 40 acre township, is in my neighborhood at ShivtirthNagar. In the earlier phases 'Ornate Park' and 'Shefalika Heights' of Balwantpuram, Pethkar Projects have constructed more than 350 flats. As a real estate marketing consultant and also as a nosy neighbor i had come to the conclusion that flats in Balwantpuram are sold by mail order and people visit the site only when they come to take a possession of their flats.

But with the launch of this phase, Samrajya, for the first time Pethkar Projects had published half page ads in the local newspapers and put few hoardings in Pune. Late evening on the day of the launch, yesterday, at 9 P.M. (2100 hrs!) i went to the site office of Pethkar Projects' Samrajya. No, not to meet the salesperson to inquire about Samrajya but to complain about letting us down.

We, all the residents of ShivtirthNagar, Paud Road and Kothrud have been boasting that the launching booking rate of the property at Balwantpuram would be Rs.6,000.

But Pethkar Projects have opened the booking at only Rs.5,600 to 5,800! Result a 3 bhk flat fits into the budget of less than a crore, in only 92 lakhs!!

Because of this, as a real estate marketing professional i was disturbed; somebody may think that Pune real estate market is slowing down, Pune real estate boom is over, Pune real estate bubble is busted!

More than that, as a proud neighbor, people, particularly in Sahakar Nagar of Pune, will think less of me, when they will come to know that 3 bhk costs less than 1 crore on Paud Road in Kothrud, Pune. What a shame!

Subscribe to my blog in the Google Reader:

To keep a track of Pune real estate market news, please, subscribe to my blog. This official Google reader blog explains how easy it is with the use keyboard shortcuts. Visit my Google group to know more about all my blogs and subscribe to it if you are interested in all blogs. You are welcome to call me on my mobile phone ( you know, i do not charge for first 15 minutes!) but not to ask the phone number of Samrajya. So here are the contact details:

Site Office Address
Pethkar Projects.
S. No 110/1/A CTS No 1148,
Balawantpuram, Paud Road,
Shiv Tirthnagar, Kothrud,
Pune, Maharashtra (India)- 411 038.

Corporate Office
Pethkar Projects.
S. No. 117+118, Plot No. 21/B,
Madhav Bag Co.-Op. Hsg. Soc.,
Shivtirthnagar, Paud Rd., Kothrud ,
Pune, Maharashtra (India) - 411038.

Tele : +91-020-25401234
Fax : +91-020-25401240

Email: mail@pethkarprojects.com

Website: www.pethkarprojects.com


  1. Ravi, what special those apartment's have to be worth Rs. 6000 a square ft.

    Are you marketing for all the builders in Pune or just a self declared Mrketing Professional?

  2. 1. Why 6,000?: Location is the main reason.
    Amenities at this location adds value to the project.
    New project obviously comes with the latest specifications.
    2. Marketing professional?: Real estate advertising and marketing is my specialization and a profession for more than a decade. On this blog i am not trying to market - sell - book - any particular project or a builder. Means, i am not an agent of any builder. I blog to share info about Pune real estate market. Yes, i will feel great if this info helps you to make a decision to book your flat in any project in Pune.

  3. Ravi...
    In your last post.. you said "only 92 lakhs!!".
    I hope you are makng sarcastic remarks when you say "ONLY" word... am I right ?

  4. In whetever little study that I have been doing of the bubbles and the bust (real estate, stocks, tulips, gold - you name it!), I found that the bubble lasts much longer than what everyone expects. So, the prices keep increasing, essentially because "they are rising". The bulls tell the bears that they are utterly wrong and "this time its different ..". But there comes an inevitable end to the bubble and then the prices start declining slowly. The bulls keep thinking that this is temporary. But just like the boom, the bust takes its own sweet time to run its course. I think the India RE has at most a year. Once it starts declining, the first thing that will happen is that the builders will go down, then the banks will start getting affected.

  5. Ravi,

    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. So welcome to reality. All those your future neighbors are people (probably) with not very respectable businesses. And you might soon find out that crime rate has increased in your neighborhood. Congrats for achievement of people like you!

  6. Do you have any idea what the rates are at Mahatma Society in Kothrud? I have a friend who told me some crazy numbers.

  7. "Pune is doing well! And Punekars are coming back to Pune"
    False, if you dont believe just visit the maharashtra mandals flourishing all over US

    "At the current real estate price, Punekars do not mind paying 70 lakhs to 1 crore"
    Only as long as the property keeps appriciating.

    "somebody may think that Pune real estate market is slowing down"
    What else can be thought? NRIs had invested all the cheap financing available to them abroad back home. Now when they are unable to refinance their foreign homes with cheap money, they will have to come up with larger down payments. Guess what they are going to do.....

    Real estate is a bad investment in slowing market. The tide has turned and the best advice you can give to anyone is to get out of the market unless they plan to stay themselves in the home for next 5 years

  8. Thanks for the comment! Your valuable inputs will help all, not only for the NRIs but for every property buyer......but selling property at this point, when lots of ready possession flats are available in Pune real estate market, is not easy for the investor....It may be dangerous too!

  9. Ravi I really doubt the worthiness of these Samrajya flats costing 92 lakhs.

    What exceptional amenities this builder is providing. In fact in far less amount say nearly in 50 lakhs anyone can excellent flat in other areas say Baner. Baner is far more developed and approachable than kothrud.

    More than this I even heard that whoever is buying flat in Samrajya will not be able to sell their flats before 3 years or they can sell it back to the builder at much less price.

  10. why you pay 92 lacs for 3 b/hall in kothutd?only around rs 45 lacs you get 3 b/hall at airport road in 12 towers of 11 storey building,with swimming pool,gym ,huge garden,all the facelities.one of the famous and reputed builder of pune.for further information email me (deva1@india.com)

  11. Ravi,

    Be honest to yourself. everynight you pray to god for all the crime you are doing. Arent you ashamed about yourelf when you say the 3 bedroom Flat in Samrajya costs ony 93 Lacs. Are you crazy.. this si too costly. Everyone know that you are a broker and get comission from Builders. anyways please dont write such commet.... i know you are getting old and looing your mind when you say 3 bedroom flat is worth 93 lacs. hahahahha

    My friend by quoting this this is the end of real estate market in Pune, recession is here and this time it will heart builders verly badly.....

  12. Buy a Bungalow plot of 5200 Sft at Rs. 1.35 Cr near Mahatma Society instead booking a flat in Samrajya.
    You can also get a co-owner for half the plot i.e 2600 Sft at Rs. 70 Lakh
    - Posted by www.eyeproperties.com

  13. Buy a Bungalow plot near Mahatma Society @ 2500 Per Sft. Choice of full 5200 or half of the plot available.

  14. Ravi,
    If Rs.9200000 is nothing for you, why don't you go ahead buying 4-5 flats in Samrajya. As per your expectation Pune real estate market is booming,so you can sell these flats at 1.5 Crore each and earn handsome profit,don't you?
    If one has got so much money with him/her, he/she can easily get a spacious 3 BHK luxury apartment in posh area like Raghulila, Kandivali at about 80 Lakhs that too with Italian marble flooring and all the amenties provided properly. Why should one waste his money in "Banjar" area? Please stop this crap. Rates in any area should increase progressively parallely with the development of Infrastructure,accessibilty,commercial shops,etc. The rates in Pune are going to come down as the purchasing power of the potential buyer has already started exausting.

  15. This is one of the most pathetic articles I have read in recent times about Pune real estate. It has no touch of reality. Punekars DO mind paying such a crazy prices for ordinary apartments. Leave the amenities, What is good about the area of Pethkar samrajya? I would book a flat in Dahanukar or Prabhat/Bhnadarkar road or senapati Bapat road in a cost lower than this. Pune real estate is going down - it can be seen from the attempts builders are making - freebies, big ads and what not. Even the Bhusari colony on paud rd offers good value for money. Pune builders including Pethkar or greedy fellows are now time has come to teach them a lesson. From my small knowledge abt real estate, I would wait for 6 months more if I was to buy an apartment and would buy a good value for money instead of buying such apartments.

  16. Dear Mr. Kaka Gokhale, thanks for the comment. 1)"one of the most pathetic articles", thanks, this will help me to write better; sorry, to bother you with poor writing. 2)"no touch of reality" yes, i was sarcastic and not realistic. I read the blog once again. I will improve on this front too. Thanks for bring it to my notice. 3)"What is good about the area of Pethkar samrajya? I would book a flat in Dahanukar or Prabhat/Bhnadarkar road or senapati Bapat road in a cost lower than this." I stay in ShivtirthNagar, have already written in the blog. Pethkar Samrajya is in my neighbor hood. So as a proud neighbor, i say, "What is great about the area of Dahanukar or Prabhat/Bhnadarkar road or senapati Bapat road? Yes, obviously, property rates should be less in that area than my ShivtirthNagar! Point is, these preferences play important role in real estate pricing. By the way, please, visit Pethkar Samrajya! Very rarely you find such a big plot in the area which is 99% developed. Besides, such a big vacant plot has a backdrop of those same hills which beautify Prabhat road and Senapati Bapat road. I value it because i have spend my childhood in that area. This is proud neighbor speaking, i told you. We do not have to agree on this point! 4) "Pune builders including Pethkar or greedy fellows are now time has come to teach them a lesson." Yes, builders always try to earn maximum. But every business man does. Even an individual also tries to earn maximum salary and perks. Please, do not waste your energy "to teach them a lesson" . Because, as a real estate salesman i have realized that it is nearly impossible. 3 years ago, at Rs. 1,100 rs. per sq.ft. when i was selling Row Houses and Twin Bungalows at Rahatani, people used to find that rate exorbitant in comparison to Aundh. In one year, 2,000 people visited my site who had this opinion about rate. But at the end of the year, i sold all row house and twin bungalows and the rate was 1250. Because i had only 140 row house to sell, means i needed only 140 people who were ready to pay that price. Today in Pune roughly 1 lakh people want to buy home but only 35,000 flats can be built. If you see the gap between the demand and supply, you will realize that there is no point in getting upset and waiting for the fall. If you like the property and the rate is OK better go for it. If you do not find it OK just forget about it. In second sell i purchased 2 flats in my building but couple of months ago, i said NO to the 3rd because though he was asking market rate (3,500 for 10 year old flat in Shivtirthnagar!) for me that was not the worth of that flat. Please, note i did not say Pethkar Samrajya's rate is right or wrong! Wish you all the best. Keep visiting and commenting. Regards.

  17. 1) "If Rs.9200000 is nothing for you,.." that was my sarcastic comment. Please, do not take it literally. While blogging i have decided few things. 1) Not to challenge builders' rates because i do not have a property to give you at a better rate at the same location. Some times challenging could create a wrong impression. 2) If i like the project i will say "Yes, Book!", i will criticize but i will avoid saying "Do Not Book" because everybody has his own opinion. 2)"Pune real estate market is booming" please read stories on my Pune Real Estate Market News http://ravikarandeekarsblog.blogspot.com/ or search Google for Pune Real Estate Slowdown - http://tinyurl.com/4vqcof On the first page you will find my 4/5 blogs. Please, read. 3) "a spacious 3 BHK luxury apartment in posh area like Raghulila, Kandivali at about 80 Lakhs" yes, you are right. If you are from Mumbai you will do this. But not if you are in Pune. 4) "Banjar" area? Please stop this crap. Rates in any area should increase progressively parallely with the development of Infrastructure,accessibilty,commercial shops,etc.' yes, you are right. But Pethkar Samrajya is in Shivtirthnagar on Paud road! Please, visit and if you find it "Banjar area" then Girgaon and Dadar is also "Banjar area"!

  18. Recently was looking for a 2-3 bhk flat in pune.. builders are willing to negotiate and give big discounts already in pune. The tremendous amount of new construction has created a big supply and very low demand as most people cannot afford the 40-45 lakh flats for a chawl kind of flat. And on top of the mentainance costs are shooting up like anything (thanks to the 'swimming pool' and some stupid other facilities which an average person would never use). The rental yield is negligible. (Feel sorry for people who bought earlier but,) the property prices got to come down sharply in Pune.

    Mr. Pethkar Samrajya will be occupied by Mr and Mrs Pethkar :))

  19. builders are willing to negotiate and give big discounts Thanks Janu for sharing your experience. Wish you all the best.

  20. Dear all its me, neither a buyer nor neighbor, I own flat in Balwantpuram Samrjya. Construction qulity and planned ameneties are good. But Lifts are with low quality, frequent failures. Pethkar staff is very arrogant. I suggest not to buy house here, we bought it at 1600 Sq ft just 3 years back. Yes its value for money for us not for you guys. This is alarm to stay away from unnecessary frsustrating treatment by builder. Yes its Samrajya.. not your it only belongs to Pethkar. I wanted to sale it, I am ready even if I get 4500.00, I know builder has many other tactics to stop me.


    1. No planning of the construction phases. No proper dialog with support systems. Result – Incomplete amenities. Improper approach streets.
    2. Employment of poorly skilled workers. Result – Poor finishing work and plenty leakages.
    3. Outsourcing to sub-standard electrical contractors. Result – Mal-functional elevator (lift), poorly managed generator back-ups, poorly managed emergency system, faulty wiring and switching in the flats (due to lack of documentation of electrical wiring), bad quality electrical fittings, a list never-ending.

    Most welcome to read more ...



    Do visit here for more:

  23. - Buying a resell-flat will bring more appreciation.
    - Fulfill the dreams at a lower cost - some of the present buyers are ready to sell at seventy-five percent of the presently quoted price.
    - Instant possession, no 2-year waiting . It is better to go for an instant mortgage-transfer directly thru financial institution as someone mentioned buyer can’t sell for 3 years.
    - With interest rates shooting up investors will be out, so prices will not rise.
    - Why go for an expensive 3 bhk which costs almost like bungalow.
    - 92 lakh is a mammoth amount for first home, second home or compared with plentiful other ‘available’ options.

  24. *It is learnt from the present buyers that lift arrangements are very poor, size of the lifts do not vary according to the number of flats in the building, no service lifts (carry-goods-in-hand) in such a big project (indicates poor vision), generator back-up takes 5 to 10 to minutes to take-over when power-cut happens (they should visit similar 6 year older projects in the same area nearby MIT college) *Price should have been around Rs.4500 considering the poor customer orientation, carelessness in customer treatment due to lack of the necessary orientation, which also reflects badly in work delivery attitude and hurts people’s sentiments, remoteness of the location, cluttered roads, poor-quality amenities, non-vigilant security (cameras and alarm systems are missing, only arrangements are provided, lift alarms are not attended by preset security vigilantly enough), shops unavailability to add to all.

  25. After visiting the site, made up mind to buy and checked with some people from phase1, and started thinking twice, when they showed me the brochure. Still ready to buy if the rate is lower and the promises in past are delivered genuinely. Phase1 promises (As per the brochure) Vs Fulfillment

    - Landscape gardens with clubhouse incorporating modern social, sports and health facilities.-Not done still!
    - Exclusive children’s play area and jogging track.-Not done still!
    - Hard paved driveways with street lighting.-Half-way thru, no lighting seen, light from parking areas comes to these streets.
    - Compound wall with decorative gates and round the clock security.-Done, but it was found that security guards sleep. Not vigilant!
    - Attractive entrance lobbies and foyers.-Not so attractive. Entrance board notice boards not available at all places.
    - Swimming pool with filtration unit.-Being done too slowly.
    - Power backup for lighting in common areas and lifts. –Generator back-up system is backward, not very effective one. It takes 5-10 minutes when power cut happens.
    - Vertical fire fighting system & hydro pneumatic water level controlled pumps. – Is the security staffed trained to use the fire fighting system? Water pressure in the flat is still not controllable. Is the system working?

  26. After visiting the site, made up mind to buy and checked with some people from phase1, and... Thanks for the comment anonymous! Everybody should do what you did, visit the 1st phase or the previous project of the builder.

  27. Ravi,

    After reading so many concerns and comments from the current residents, do you still recommend this scheme at the rate of ONLY RS.92,000,00/-
    Probably, today it must be 1.5 Crores considering the daily hike in prices...!!!!

  28. Hi Ravi,
    It is great that you actively participate on the discussions generated by your blog posts. Since you live in Shiv Teertah Nagar, can you tell me what rates should we expect for areas behind Kinara Hotel (5 min walk)? A new project by a relatively unknown builder is going for around 5200. I have seen other projects by the builder and the quality seems to be good and customers there are satisfied. In this project behind Kinara, all standard and modern amenities are provided except for the swimming pool. Do you think the price is justified?


  29. Thanks for the comment Anonymous!

    Probably, today it must be 1.5 Crores considering the daily hike in prices...!!!! At launch, March 2, booking rate of Pethkar Projects' Samrajya - Balwantpuram was Rs.5,600 to 5,800 but today property rate is Rs.5,200 per sq.ft.
    Today 2 bhk flat - 1,222 to 1,340 sq.ft.- fits into the budget of 70 to 77 lakhs.
    And 3 bhk flat - 1,450 - 1500 sq.ft.- fits into the budget of 83 to 86 lakhs.
    It means flats in Samrajya - Balwantpuram has become more attractive for those who prefer living in a township in the well developed area of Pune.

    ONLY RS.92,000,00/- I feel sad because now i can not boast about living in the neighborhood of 1 Cr. flat.

    After reading so many concerns and comments from the current residents, do you still recommend this scheme..This is a serious issue.

    As a real estate adverting executive, i used to think about the positive sides of the project.

    When i became a real estate salesman, i experienced the negative aspects of the execution, construction and service.

    When i was in charge of the project, i have seen the unethical, unprofessional and illegal side of the real estate developer.

    Now, as a real estate blogger, i am learning not to see things in black and white. I am trying to focus more on the gray.

    Visiting and talking to the residents is the best way to understand about the builder.

    While booking a flat, i think, along with the positive points, we have to make a list of the negative points of the short listed projects.

    Yes, if somebody asks me to recommend a -
    1) 3 bhk flat
    2) in the township which will have all amenities and
    3) located in the developed are of Pune
    4) in the budget of 85 -90 lakh -
    i will recommend Pethkar Projects' Samrajya - Balwantpuram.
    But at the same time i will tell him about the issues too!

    Comparing issues and taking a decision is very personal. I am real estate blogger. I know my role ends here. I am not selling any project.

    My recommendation is the positive side of the project.

    I publish, comments are moderated - you know- i can stop, these negative comments and remarks about the project because i am not blogging to sell this (or any) project.

    I am blogging to assist you in selecting the right project.

    Decision is yours.

  30. People GOOD NEWS - Prices are coming down. As the oil price are going up and adding to the inflation rate, interest rates are shooting up too. You may please read this for more:


  31. what rates should we expect for areas behind Kinara Hotel? A new project by a relatively unknown builder is going for around 5200. 1) Rs. 5,200? Pethakar's rate? 2) I am getting resell flat for 4,500 in Pethkar! 3) 5 years old for 4,000!

    I am sure you must have already used these point in your negotiations.

    It is very difficult to negotiate with a small builder. But try your best. You can do a lot in 200 rupees per sq.ft.!

    Considering the overall market and the infrastructure on the Paud road. Yes, 5,200 is worth. Good thing is you will realize it every moment.

  32. Thanks Ravi for giving your valuable comments over the concerns of many residents in Balwantpuram, much appreciated your unbiased openion. I didn't qiute get the Black & White and Grey stuff, however I got your thoughts over the subject. I can understand, you can't absolutely critisize a project as that might lead you in trouble, I know well about our culture, we don't have much freedom to express.
    Keep blogging on the latest development in pune real estate, hopefully we will find best and most attrective offers in months to come.

  33. I didn't quite get the Black & White and Grey stuff, however I got your thoughts over the subject. Thinking in absolute terms - good or bad - truthful or liar, honest or dishonest - black or white - !

  34. The ‘township’ builders are cutting corners and there marketing themes have already started backfiring on them badly.

    For reading more – “Pethkar Projects launches Samrajya, township with swiming pool in ...” please visit the link below:

    Builders like Pethkars who are building ‘so called’ township projects must first understand the two key expectations they are creating in the customer’s minds. Firstly, that the quality of the flats has to be extra-ordinary inside the flat. This way these customer will do a mouth the mouth publicity as opposed to the builder putting the hoardings all over the city and letting the city think about the over-publicity. Secondly, the promise of the amenities on the hoardings should be ultra-clear (than so called ultra-modern ones, and) should not look like a promises given by an ordinary local politician. The amenities should really give a real feel of township. Importantly, the townships are livable not just by having buildings and amenities, but by having the friends in the neighborhood. For this the builder needs to earn a fare share thru referral than hoardings everywhere. On the one side they are trying to act like a mini-local-government and the other side they are acting helpless when it comes to delivering the customer expectation which they themselves have created. In other words ‘the commitment’ is grossly breached. Some builders in the east side of the town campaigned their townships as a place to meet old friends; while the builders in the west part of Pune, near IT parks have succeeded in delivering the quality township projects to a greater extent. But the example described in this blog describes that the builder is playing too short-sited while making a huge bulk of profit in a short-term by cutting every possible corner. This completely brings out the incompetent nature of their projects which is evident during the delivery of the ‘so-called’ townships, which is getting followed by a marketing theme that is backfiring now.

    They (themselves) say - Home is where your heart is. “We don’t just build homes, we build neighborhoods” – Where and when?? Don’t know. “The Dawn of A New Empire” is under threat as its citizens are not happy. The builder has not built a home of customer delight at first place. ‘Township in the heart of the city:’. But not there in the heart of its citizens!!!
    Do visit and read more:

  36. Ek_Dukhi_SamrajyaWasi - An account on the realestateagentspune:


    Read more:


  37. It’s not only backfiring but self-defeating too!!! Read (red) one of the articles above that says “The ‘township’ builders are cutting corners … backfiring now”. It’s very interesting to study this township case as finance professional, how builder has created a marketing model of only hype but no thought. The above-mentioned article talked about backfiring. True, but not only that; more than that in better words “It is self-defeating”. Thru, several feedbacks in this thread it is well-known that the customer seem to be ‘hi’-ly ‘ultra’-unhappy. This is resulting in a very clear outcome, illustrated as follows:
    Here, there is huge loss of new business that builder is suffering from; read this – Builder is loosing a great amount of business which could be easily earned in this booming market without spending an extra penny on marketing, that is thru referral - Loss No.1 (~75 Lakhs). This unhappy customer spreads a bad word to so many … Loss No. 2 (~75 Lakhs x N). And if the customer is not so happy then customer would resale the flat at a lower price than what is currently offered by the builder but would gain a plentiful of appreciation - Loss No.3 (~25 Lakhs) and this way take away this potential customer of the builder by offering a lower price - Lost No.4 (~50 Lakhs). So, behind every unhappy customer, builder is loosing a minimum business value in the range of 1.5 to 3 Crores. Isn’t it only backfiring but self-defeating too?

  38. This is a very good blog that is helping people to share and be aware.


  39. JULY 11....Pethkar has reduced the price....., 3 bhk flat was costing for 93 lakhs till last few weeks. Now it has come down to 63 lakhs.

    Also some of the 2 bhk flats are available at 42 lakhs.

    Still there are not much buyers these days.

    His wbsite says

    "Opening the bookings for O & P Wings. Starting from 38 Lacs onwards... Also few choices left in H,I,J & K buildings. (This is from site headline)"

    I am glad pethkars have realized fancy prices don't attract genuine buyers.

  40. Hello Ravi
    Any update about this rate reduction.....as u r staying in that area....do u know what is the current rate going on there...

    And what is yr view on overall correction in Pune market

  41. What would happen to any survivors of the earlier booking at Rs.93 lakh after price is reduced.. Is Pethkar giving refund of Rs.30 lakh now..?

    Beware people from all these scandalous builders.. Prices going to get lower and lower and lower....

  42. Don’t trouble us over the amenities and quality of service. Think customer. Why are you not talking to the customers if you think their complaints are not genuine? How many meetings did you have over this with the customers or the customer representatives? Why your staff is arrogant with the customer on face as well as in the circulars you put up on the notice boards? Don’t you pay your staff? Haven’t your customer paid you in full? What is happening with the ONE-TIME-MAITAINANCE OF ABOUT A LAKH that you have taken from each customer? We are talking about customer rights and not about customer demands. FINALLY, NOW YOU BETTER IMPROVE. GET STRAIGHT AND MEET YOUR CUSTOMER COMMITMENTS AT FIRST PLACE. IF YOU DON’T WE WILL PUT UP BLACK FLAGS IN THE WINDOWS OF ALL THE HOUSES ALL OVER SAMRAJYA.

  43. Who says that Pethkar employees do not have customer orientation? In fact, this is an understatement – ha ha : )))))). They do behave; their cashiers are much known for ensuring the authenticity of currency provided by the customer. They are much aware of what kind of five hundred notes are in the market and blah blah. And they discuss that with the customer : )))). Poor show!!! Isn’t it? Moreover, in front of the customer when they check all the coins received in cash from the customer including fifty paisa or a rupee, customer do tend to get an impression that they are the nobody but the refugees coming from either Somalia, Bangladesh or Yerawada, mainly due to the way they inspect the coins thru their soda-thick lenses on their moldy forehead.

  44. Had a similar experience, the cashier must be having a foul background. Background check of such people should essentially be done.

  45. If the cashier mentioned above is inspecting a single rupee coin change given in the cash in the manner described above, the person essentially has to be an ex-pat refugee from those kinds of poor countries listed above. Surely one should give a pitiful look at such poor people! And if they don’t behave, how at all they remain employed in such a place is a question to be asked by employer to self.

  46. AUGUST 4.... Pethkar has reduced the price already (as on JULY 11) .....,

    Still there are not many buyers today.

    Today his wbsite says
    “Only few flats available in O & P Wings. Premium flats available in H, I and J Wings”
    NOT MUCH CHANGE IN THE HEADLINE with respect to JULY 11 … "Opening the bookings for O & P Wings. Starting from 38 Lacs onwards... Also few choices left in H,I,J & K buildings.” (Earlier headline… mentioned in the one of the comments above)" only words are shuffled here in the new headline …
    REAL ESTATE PRICES TO DROP FURTHER … here is an analysis by Kotak CIO V Hari Krishna -



  48. Today the website says -

    “Only few Budget flats available in O & P Wings. Spacious flats available in H, I and J Wings. K wing Booked”

    Why are the budget flats - ‘still available’?? Even after a month since price-reduction !!!!!

    Answer - Because nobody is buying at present, as the market is dropping down the prices still further!!!

    'We are headed for a distressed real estate market'

    Read more - http://www.rediff.com/money/2008/jul/29inter.htm

  49. ...i went to Samrajya scheme by Pethkar bulders... I told them, i canot afford this rate and got up. Then suddenly they said what is your expectations. This is ridiculous,,, i mean rates are decide on perception.


    MORE -


  50. yes i went to Balvantpuram & they offered 3500 for group booking of flats. i think they will further comedown in coming time

  51. Hi Ravi,
    Can you please comment on the current property rates. Really appreciate your help.


  52. Everyday when I look at project construction I laugh ... The way he treated us, pethkar project residence, is pathetic... I visited his office abt 5 months back and asked flat at 4K. He said we were fool that sold you flat at cheap price.. (I got it at 2.5K per sq ft- 4 years back) now I laugh at his arrogance, Now he is ready to go below 4K :D:D:D:D:D:D

  53. Mr. Anonymous,
    You need to have a check up at doctor, bcoz i dont understand why do u laugh at one of the best construction pratices adapted here in samrajya. may be your are frustated of being unable to book a flat at a rate u desired. the builder has all rights to change his strategies as and when required to make profit and deliver best quality product. if you are so unhappy with ur home wy dont u sell your flat as you mentioned earlier tht u can get a rate of 4500 psf.

  54. its beyond my capacity to understand as to why Mr. Anonymous is so desperate to have another flat in same Samrajya project despite he laughs at their construction. Or is it so that you hv recently started laughing and tht was not the case 5 months back. May be you need a psycologist. God bless you.

  55. Hi,

    Does anybody know what is the current rate at Samrajya? (Jan 09)

  56. Dear user,
    The official rate of Samrajya is 4500. But they are offering their exhibition scheme rate as 4200. Moreover on the basis of upfront amount they further reduce the rates till 4000.
    I am facinated with this project. recently i visited their new sales & engg office. It looks awesome. I have a strong belief that this scheme shall be a landmark in Shivtirthnagar.
    I receommend people to visit the site once and see the systematic way they treat the clients. Do not forget to have a look to the sample flat which is very much similar to one wht the purchasers are going to get instead of make people fool by showing show flat concept.
    Take care, a well wisher

  57. Thanks for the info on current rates and advice.

  58. Well-wisher take-care. [DON'T DO THIS BETWEEN 7AM TO 9AM] DO IT BEFORE you decide to BOOK or BUY just walk thru the 'Stilt Parking'(Floor above ground floor) of Balwantpuram Samrajya - Phase-1 and you can see for yourself a dozzzzennnnns of BATHROOM LEAKAGES, overhead. THIS PROJECT is now 2 YEAR-OLD only. Also, they are 'still building ... the swimming pool'. For garden they have not started, where they boast of acres of lands, but do not furnish the open spaces in the project with a simple garden, which is done by many small builders at the beginning of the project only. FOR MORE LOW-LIGHTS, DO VISIT THE LINKS BELOW –




  59. Dear Anonymous. It seems that you some misconception that there are zero error constructions going on in surroundings. i do admit that there are some shortcomings within the project, but that doesnt mean we should highlight only those. i had even seen that the builder had already carried out special leakage treatment to elimate it entirely within the stilt parking. as regards the garden, i know that even in their Phase I, they had made considerable delay in completing the garden and club house, but when they completed it was awesome and people from Phase I are appreciating the entire premises. You have to belive that good things take some time. i know that you must be having a point to argue on this too, because some people just want to make non-sense.

  60. It is appreciated that you have accepted the ERRORS ... alongwith some non-sense though. Always look at your 3 fingers while pointing 1 to others.

  61. Ravi,
    What is the rate at Amit's Green park in Sahakar nagar for 3 BHK? Is that also coming down, as what I understand is Pethkar Samrajya rates have come down?

    Thank you.

  62. does anyone know what is the current price for a 2BHK flat in this project and how much can the rates be negiotated.