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Tuesday, April 29, 2008

Kumar Properties' Megapolis at Hinjewadi - 3rd integrated township after City Group’s Amanora Park and Paranjape Schemes' Blue Ridge

Avinash Bhosale Group and Kumar Properties' joint venture:

Megapolis, 150-acre township in the 3rd phase of Rajiv Gandhi Infotech Park in Hinjewadi, to be built under the Special Township Act, was announced here on Monday by Pegasus Properties Private Ltd, 50:50 % joint venture between Avinash Bhosale Group and Kumar Properties.

The Rs 1,400-crore project - Megapolis - comprises 5,800 flats, studio apartments and an IT special economic zone.

1st Phase:

In the first phase, close to 900 apartments — both 2 and 3 BHK — spread over about half the land will be ready in 24 months, by April 2010, while the rest of the project — about 5,800 apartments — will be completed in 5 years, by 2013, said Amit Bhosale, director of Pegasus Properties.

Property Rate:

The inaugural rate of the flats works out to Rs 3,250 per sq ft for 2 BHK and Rs 3,300 for 3 BHK, with increased pricing for every additional floor of the 21 storey buildings.

In all, there will be 58 such towers, which extend to 20 per cent of the 150-acre township.

“We are working at a pace of two apartments in three days to meet the scheduled time deadline,” said Rajas Jain, Director, Pegasus Properties.

Homes for IT Professionals and their Parents:

While the first phase will consist of apartments, in the subsequent phases, the project envisages six blocks to be earmarked as old age homes. “This is so that the parents can at least stay on the same campus,” said Manish Jain, Kumar Properties.

The project is banking on its proximity to IT companies. “Megapolis is bordering the Tata Consultancy Services (TCS) facility. Other IT firms, Wipro, Infosys, Tech Mahindra are close by. We are promoting a walk-to-work concept,” he said.

Speaking on the occasion Mr. Vimal Kumar Jain, Director Pegasus Properties Pvt. Ltd said, “Pune is emerging as one of the top seven cities promising high growth potential. In the days to come, Megapolis is destined to become one of the crowning landmarks of modern Pune.”

Singapore-based RSP architects and Belt Collins International are the architect and landscape designer respectively for this project.
- ExpressIndia.Com
- Business Standard

Related Stories:

1) Bhosale among Maharashtra's top builders

2) Bhosale, a man of contacts

Friday, April 25, 2008

Builders will increase the rate according to the stage of the construction, says Shantilal Kataria, while talking on rising property prices in Pune

Price hike between Rs 50 and Rs 400 from April 20:

We all, including HDFC, were talking about Pune real estate slow down. Everybody was sure about property rates in Pune will come down. But on 10th of April, Lalitkumar Jain, president of Promoters and Builders Association of Pune (PBAP), made a shocking announcement.

PBAP, association of all most all major builders in Pune, (yes, SRK Developers, promoter of OvalNest 5 Star Homes at Warje is not a member of PBAP) has decided to increase the per-square-foot rate of flat between Rs 50 and Rs 400 from April 20.

DSK and Felicita - Baner:

Flat buyers gave instant response to DSK's ads about price hike. As if it's Petroleum Minister's announcement. No, they did not stand in the queue all night waiting for D. S. Kulkarni Developers' office to open on Ram Navami but all 50 flats were booked in no time. Even Felicita - Baner got a great response to their offer to book a flat before 20th April. But, surprisingly, most of the builders in Pune and important members of PBAP did not announce any price hike or the offer.

Shantilal Kataria, Vice President of PBAP:

Has PBAP dropped the idea of officially and unanimously hiking the property rates in Pune? Angry first time home buyers in Pune and/or 1 lakh vacant apartments in Bangalore forced the builders to reconsider their decision or what! But i did not see any point in jumping to the conclusion. So, i called Shantilal Kataria's office. For the first time, since i started this blog.

I was sure, Mr. Kataria is the right person. Not only because he is the vice president of PBAP or Aditya Builders is one of the big builders in Pune but because Shantilal Kataria, i believe, is the think tank of Pune builders. At the same time, for more than 25 years Aditya Builders has developed schemes in all parts of Pune only for the middle class. Naturally, as a good builder, Shantushet, as he is affectionately called, can read the mind (and bank statements!) of middle class of Pune as if it is a balance sheet of his company.

Price hike - Under Protest:

In the last 3 months, cement and steel rates, hiked labor charges, increased operating costs because of the inflation and Pune Municipal Corporation's increased premiums have increased the construction cost. This has forced the builders to increase the booking rates of the flats.

Since the property price hike is due to the increased construction cost each builder has to calculate cost increase on the project to project basis. Depending upon the stage of the construction, builder will increase the booking rate for that scheme. Suppose, the construction is in the last phase, a builder would increase the rate for that project, only by 50 rupees. Recently launched or where construction is still at initial stage price hike can be maximum.

How and when to increase, at one time or in phases, is an individual builder's choice but to construct and complete the project there is no option for the builder but to increase the property rate.

Shantilal Kataria explained the reason behind the delay in declaring the price hike but made it clear that Pune builders are going to increase the property prices. He also told me that builders are not happy about this decision.

Pune real estate slow down:

We were talking on the phone. To me, Shantilal Kataria sounded quite comfortable about the price hike. He was confident about the bookings at hiked property rates. Of course, i was expecting this. Still, he was not talking for himself. PBAP has discussed this in the meeting and Shantilal Kataria was talking to me on behalf of Pune real estate developers. Was he really comfortable and confident? Or is it a determination to hold the fort and present a strong position to Foreign Direct Investors?

What do you think? Would builders hike the rates as announced? Would you give up the hope of real estate prices coming down and book your 2 bhk flat at hiked rates? Please, let me know in the comments.
Tip: If you could manage your anger and disappointment, you can express your thoughts well. Please, try!

Wednesday, April 23, 2008

Rising Property Prices in Pune real estate market - D. S. Kulkarni Developers are here to help you. Do not loose hope. Call now!

Hope Now:

Dear Mr. President Bush, you are not the only person whose focus is "Home-ownership" of his people. While you are doing your best by forming Hope Now alliance to help American families keep their homes, this person in Pune, is helping the citizens of Pune, Mumbai, Nashik to realize their dream of home-ownership.


Before i tell you who he is, let me tell you where is Pune. Pune is in India. India is near Pakistan. Actually, India and Pakistan share a common boundary. No, no.. India is on the other side of Pakistan!

His fundamentals are sound but he is not a fundamentalist. Israeli investors based in Netherlands trust him. In fact, like most Punekars, he believes in "Give your dreams a chance". No wonder if he is not in Pune, you can find him in New Jersey, pursuing his American dream.


One more thing, your agents may label him as a Hindu Fanatic because he expresses his love for the citizens of Pune on the auspicious occasions of Ram Navami and Hanuman Jayanti. But all Pune knows these are just occasional excuses. Even today, couple of days after Hanuman Jayanti, Punekars can call his office and hope for the best!


Sunday, April 20, 2008

Real States in Pune and IT Professionals

There is an another angle to it. It is the agent lobby. They have now started to work on anything beyond X is mine policy.

Talk to any agent and you find that they have flats at Baner worth 1 crore and if you don't buy it in a day it will go.

If you happen to meet the same agent six months back, he had said the same thing about that flat at Baner, but at 25 lakhs.

Suddenly Baner, Kharadi has become as expensive as the heart of Pune.

It's a another fact that it still resembles a Village and if you have not got your own car, you will be skimmed big time by any auto that you find after waiting for one hour....
Hem Acharya found this somewhere . He doesn't know who the author is but it made him comprehend. To read more, please, visit:
Tech,Fun,This n That at www.Hem.com.np

Sunday, April 13, 2008

Now, Chakan, hot real estate investment destination in Pune, has a new addition - Eiffel City, Boulevard township of 2 and 3 bhk flats and Villas

Nahar Riddhi Siddhi Developers, dealing in bungalow and farm house plots have formed a public limited company, Eiffel Developers and Realtors Ltd. and launched their first township Eiffel City in Chakan.

Eiffel City:

Eiffel City, as per the ad, is also Pune's first "Boulevard Township"! (Please, do not ask me what it means.) Rahul Nahar and Santosh Bhansali, of Eiffel Developers, are very much in a hurry to en cash the real estate boom in Chakan. So they have launched the project even when the brochure and the website is not ready. But they had enough time to invent attractive lables for the project. For example: "European Homes" "The Next Gurgaon" and "Boulevard Township"!

Property Prices:

But they have made a sample flat and a price list of 2 bhk and 3 bhk flats. Bookinbg rate of the flat, i have heard, is in the range of 2,100 to 2,300 rupees per sq.ft. Because, as usual, Eiffel City charges you for the view and the floor rise.

Areas of 2 bhk flat is around 750 - 870 sq.ft. and fits into the budget of 20 lakhs. 3 bhk flat is around 1250 sq.ft. and fits into the budget of 30 lakhs.

Real estate investment opportunity:

Interesting thing is only Eiffel Developers are not in a hurry, property buyers and real estate investors in Pune are also in a hurry to book a flat in Eiffel City. I have heard, around 100 flats are booked before the project is officially launched.

Chak de Chakan!:

If you are aware about the developments taking place at Chakan, ( besides "New Air Port at Chakan") you can understand the importance of this real estate investment opportunity. Here are few links for you which will give you fair idea about Chakan:
Chakan google map

1) Chakan: From outback to auto hub

Biggies such as Volkswagen, Daimler Chrysler, Mahindra & Mahindra and Bajaj Auto have bought space. Amongst the auto component manufacturers, Kalyani Lemmerz has announced capacity expansion and a new facility. Bosch, Auto Lines, Minda are already there, and an European firm ...
The Hindu Business Line

2) Objective: Host to leading industrial giants

Chakan industrial area near Pune is considered as one of the best. MIDC has developed this area which stretches to 246 hectares. Both basic as well as high grade quality facilities are in place. Provisions have been made for laying electricity, telephone lines and other service lines.

3) Mercedes-Benz to make 12,500 vehicles at Chakan

Mercedes-Benz India Private Limited, the Indian arm of Daimler AG, is looking at a total capacity of 12,500 units per annum, including passenger and commercial vehicles at its upcoming manufacturing plant in Chakan.
Financiale Express

4) M&M to invest 1500 crore in Chakan Greenfield

Mahindra & Mahindra, the leading Indian multinational, reputed for its association with the Indian automotive industry for 62 years, today signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to further boost their investment at its upcoming Chakan Greenfield project. The company will invest an additional Rs. 1500 crore to the already earmarked Rs. 2500 crore. The total sum of Rs. 4000 crore will be utilized towards the development and production of all vehicles slated to be rolled out from the proposed Greenfield.
Infibeam - Automobile & Mobile Industry News

5) VW to invest Rs 1k cr more in Chakan plant

Volkswagen AG, Europe’s largest car-maker, plans to increase investment in its plant at Chakan, near Pune, by 41 per cent to produce the Skoda Fabia for the market.

Volkswagen will spend a total ¤580 million (about Rs 3,500 crore or $910 million) building the factory, said Christina Merzbach, a spokeswoman at the Wolfsburg, Germany-based carmaker.

The previously announced figure was ¤410 million (about Rs 2,500 crore or $640 million).
Business Standard

6) Dow India establishing Global R&D Centre in Chakan, Pune

Dow India has signed an MOU with the Government of Maharashtra to set up a Global R&D centre at Chakan, Pune.The Centre is expected to be operational by 2008 and will employ 500 researchers by 2010. Initial project related activities are underway on the 100 acre land allotted to the Company by MIDC and more than 125 researchers are already employed and providing their talented skills and capabilities, operating in a rented facility.

7) Peripheral Locations High On Investment Opportunities

According to the Cushman & Wakefield - GRI India Real Estate Investment Report 2007: ?India Gaining Momentum" released today, 17 new corridors emerge as strong investment destinations for investors with different risk appetites.

As India enters the next phase of real estate growth, the exploration of suburban and peripheral developments of major cities as cost saving and risk diversification measures is emerging as a vital initiator for analyzing the potential investment opportunity within these emerging corridors. Hinjewadi, Manesar GST and Sriperembudur, Shamshabad, Devanhalli, Greater Noida, Panvel and Virar, Rajarhat Thane (Mumbai), Kokapet (Hyderabad), Bidadi (Karnataka), Chakan, Kharadi (Pune) Bantala and Tumkur Road are the 17 corridors that reflect high investment potential.
Cushman & Wakefield

8) Anuj Puri(Chairman & Country Head Jones Lang Lasalle Meghraj) Explodes Some Realty Myths

Pune demystified There are some myths that are particular to the growth of Pune. These need to be demolished as well.
Myth 1: Pune's real estate boom is driven entirely by IT and IT-enabled services.

Fact: It is true that this sector's increasing presence in areas like Hinjewadi, Kharadi, Phursungi and Hadapsar has enabled Pune to emerge the new IT/ITeS Mecca. However, Pune'e real estate market will also continue to benefit from its growing manufacturing sector. The immediate future will bring considerable growth in the traditional industrial locations of Chakan, PimpriChinchwad and Bhosari and the decisive emergence of hotbeds like Talegaon. Chakan will see the entry of Volkswagen, and New Chakan is the proposed site of Pune's new international airport. Meanwhile, General Motors has selected Talegaon for its new plant.

How to invest in Chakan real estate:

1) To invest in Eiffel City, please, contact:
Eiffel Developers & Realtors Ltd..
Head Office :
Mantri House, 929 F.C. Road, 1st Floor,
Pune- 411 004. ( India )
Tel : + 91 20 25666300. Fax : + 91 20 25666305
www.eiffel.in email : info@eiffel.in

Site Office:
Survey No. 1431, Chakan - Talegaon Road, Chakan.
Call: 91 99210 09354/55
SMS: EFL to 54646

2) To invest in Naiknavare's Dwarka, a Bharat Pattern township, please, contact:
Sales Office - Pune
1204/4, Ghole Road,
Pune - 411 005.
Phone : (91-020) 25533700, 25531525
Fax : (91-020) 25534286

Mumbai Office
1 Vidyabhavan Society
121 Keluskar Road
Above Gypsy Restaurant
Dadar (W)
Mumbai 400 028
Tel: +91-22-2444 0621
2444 0615
Fax: +91-22-2444 9414
Email: sales@naiknavare.com

U.S. Representative
Mala & Vilas Naiknavare
2900, South Mansion Drive,
# 211, Independence, Missouri 64055,USA
Phone & Fax No:
Cell No: 816-695-6070
Email: vilas@naiknavare.com

Middle East Representative (Bahrain)
Mr. Vincent Alphonso
Tel: 0097317341328, 0097317341628
Email: alphonso@batelco.com.bh

Middle East Representative (UAE)
Mr. Anil Pakale
Tel: 00971506242097
Email: anil.pakale@jci.com

3) Subscribe to my bolg by email or RSS, join my Google Group, call me on my mobile and yes! you can chat me on Google chat too!

Chak de Chakan!

Saturday, April 12, 2008

SRK launches OvalNest 5 Star Homes - 2 and 3 bhk flats at Warje - Kothrud annexe, in Pune at the rate of Rs.3,500 per sq.ft.

SRK: Shah Rukh Khan?

Yes, before you read the next sentence i want to warn you. I am a big fan of SRK. SRK..no, not ShahRukhKhan..of course, i am his fan too, but here i am not talking about that SRK.

D S Kulkarni!

This SRK is S. R. Kulkarni. Not a cousin of DSK..D. S. Kulkarni. Though, he is a Kulkarni and a builder, SRK has not released a single ad of any of his project in any local news paper in the last 25 years. Where as, for ages, many people in Pune used to read DSK's ad before they read the main head line of the daily Sakal.

S. R. Kulkarni:

He may not even have printed a brochure of his scheme! Because, when he was launching his last project in Karve Nagar, SRK assigned me to design the brochure but never printed it. Of course, he paid me, don't worry. But being a member of his team was more important to me than getting paid for my services.

While doing an extensive market research, i had come to the conclusion that launching SRK's project would have been more prestigious than 100 - 150 projects i had launched in Pune real estate market.

Chitale Bandhu:

Instead of describing what is so great about SRK in detail, i will tell you in short. If you are a Punekar, you will understand what i mean. SRK is the "Chitale Bandhu" of Pune real estate market. Good consistent quality and value for money.


Oh! No!! you are new to Pune. OK! no problem. still i can tell you in short. SRK is not a member of Promoters and Builders Association of Pune (PBAP). Lalitkumar Jain is not a head of his "family". Got it?

2 bhk flat: 37 lakhs and 3 bhk flat: 49 lakhs

But this time, SRK has released a full page ad of OvalNest in Pune news papers. He has a website too. As a fan, you can understand how excited i must be. As if this is a Friday morning and i am going to see the first day first show.

However, i am going to attend the last show. Because site office is open till 10 p.m.! Sure, I will keep you posted. I have already told you the budgets. I want to see the 100% authentic sample flat. You only subscribe and receive all updates about OvalNest in your mail box. Thanks to FeedBurner!

Friday, April 11, 2008

Promoters and Builders Association of Pune strikes back: increases the per-square-foot rate of flats between Rs 50 and Rs 400 from April 20

Pune real estate slowdown:

Attack is the best form of defence, Lalitkumar Jain, president, Promoters and Builders Association of Pune (PBAP) knows this very well.

Lalitkumar Jain knows how to answer back the prophets of the Pune real estate slow down. He passes the resolution of the price rise in the PBAP meeting and slaps it on your face.

Instant boom in Pune real estate:

As a boss of all builders in Pune, Lalitkumar Jain takes the lead in "motivating" the property buyers who are sitting on the fence, hoping property prices to come down. He simply terrorizes you by declaring the official price rise not from today but from 20Th April in Pune real estate market.

But he never forgets that he is the head of the family. Lalit Kumar Jain takes care of the members of his family who have a weak heart and big unsold stock. He sets a minimum limit of 50 rupees!

Create the Market Where There Is None:

While more jobs will be created in the city, the builders could always develop less number of new flats in and around Pune. So it's a game of demand and supply. Thank God! PBAP has a visionary, who knows how to create a new market out of abundant supply of buyers.

Who knows, some day Harvard Business School may honor Lalitkumar Jain for taking business beyond developing a unique product like Akio Morita, founder of Sony and waste time in implementing Blue Ocean Strategy to fight competition, as suggested by W.Chan Kim and Renée Mauborgne.

Residential property prices to go up in Pune

Sunday, April 6, 2008

Pune real estate slowdown: Pune real estate market celebrates Gudi Padwa and hopes for a prosperous new year ahead!

Pune real estate developers are doing their best to cheer up the property investors with colorful ads in the local news papers. Sorry, i mean 'end users'. Because, there are no investors in Pune real estate market.

So, i should say, Pune builders are trying to tempt the 'end users' who can buy a 2/3 bhk luxurious terrace flat in Pune.

Sorry, second mistake, i said 'flat'. In Pune real estate market, when the exclusive and the prestigious housing project is launched, there are apartments or condominiums, not flats. For example, Queenstown has condominiums and Supreme Pallacio has apartments ("Apartmentos de Castillo"!)

On this auspicious Gudi Padwa, the Maharashtrian New Year's Day, Pune real estate is offering you more than a simple luxurious (or super luxurious) flat, apartment or even condominium. Oh! what a new biginning. Please, take a look.

1. Yes, now there are "iHomes" at "iris" at a prime location of Balewadi - Baner.

2. Nyati Exotica at Nyati County, near NIBM in South Pune (!) has 3 bhk super luxurious Homes.

3. Limited edition lavish "E-Series Condominiums" with servant room will be yours if you rush to Water's Edge at Jagtap Dairy chowk at Pimple Nilakh - Aundh annexe.

.4. Would you like to book "India's interactive intelligent home"? Go to KOOL HOMES at Balewadi, Bavdhan, Mohammadwadi or Kondhwa.

5. At Wakad, Dynasty has "2 & 3 BR terrace garden homes".

6. Near Pancard Club at Baner Hills, (Did you know Baner has hills? I knew only about the road!) Venkatesh Mirabel's "4-side open island homes" come with a "Building India Green Certification"!

7. On Sinhagad road near DSK Vishwa at Dhayri, there are "opulent bungalows on every floor" of Venkatesh Serenity.

8. "Why buy any flat when you can own a "resort apartment"?" asks Mont Vert.

9. "Lakeside villa apartments" are available only at Latis in Talegaon.

10. Surana Associates' Vrind has "3 bhk palatial homes' at lane no 14, Prabhat road. (You can call 020 2444 6865 / 5297 to confirm!).

11. However, to me Rohan Leher, near Balewadi Stadium at Baner, (Baner not only has a road, hills and Pancard club. Baner has a stadium too. Which is called Balewadi stadium!), is the current hot property in "Pune real estate market". Let me try to explain why. Rohan Leher has a "Rohan apartment" which is a "well ventilated home" and "PLUS Home", it comes with an "advanced Digital Home System" and is "Eco-friendly".!

If i have missed any project, please, tell me in the comments and i will add it in the list. Please, subscribe to my blog in RSS or get a mail in your mailbox and do not miss a single Pune real estate market news!

Friday, April 4, 2008

Be a smart property buyer.. ask your builder for the CIDC-CQRA Certificate before booking a flat

CIDC-CQRA Construction Quality Certificate:

Construction Industry Development Council (CIDC) and Durocrete Construction Quality Rating Agency Pvt. Ltd. (CQRA) jointly provide this Construction Quality Certificate.

CIDC is a representative organization of the Indian Construction Industry jointly set up by the Planning Commission - Government of India and the Indian Construction Industry.

CQRA is an offshoot of the quality assurance division of Durocrete Engineering Services (P) Ltd . CQRA specializes in inspection, auditing and consulting advisory services for improvement of building construction project comprising civil, building services and Mechanical and Electrical (M&E) work. They have developed a unique quality indexing system and software which can benchmark construction quality levels on a scale of (score cards) 0-10. Here data is periodically captured from construction sites in objective formats then analyzed and comprehensive stage-wise reports are generated. This model is operating successfully since the last 3 years.

For buildings, 'CIDC - CQRA Joint Certification for Construction Quality' is offered in categories like RCC - Structure, Overall Construction Quality and OHES (Occupational Health, Environment & Safety) certification during construction.

CIDC-CQRA projects:

Amanora Park Town, Kalpataru Estates Phase II and III - Pimple Gurav, Sigma One - Kothrud, Gera Emerald City - Kharadi are some of the projects which have gone for this certificate. Unfortunately, there are not many. For a complete list, please, visit the website.

Please share your experience!

While visiting the site if you ever asked about CIDC-CQRA Certificate or any kind of quality assurance, please, share the answers and reactions of the salesman in the comments! You can also share your first hand experience about the quality of construction of your flat and your project in the comments. Would you like to express your opinion and observations? Go ahead, feel free!

Pune real estate market news - new project launch and special offers on the auspicious occasion of Gudi Padava

1) 2 bhk 'resort apartments' from Rs. 36 lakhs (+ other charges) at Wakad and Baner-Pashan link road:

Mont Vert is launching 2nd phases of Tropez (call 020 6410 6311) at Wakad and Biarritz (call 020 3241 3133)at Baner-Pashan Link Road. Head line of the ad says:
Why buy any flat when you can own a resort apartment?

2BHK FOR JUST Rs. 36 lac*
Star means - *Starting cost of a 2BHK apartment, Development charges, parking, stamp duty and registration additional.

However, Mont Vert is talking about property price and budget proves that...slowdown is good!

Mont Vert Luxury Homes
Niraj Kumar Associates
129/2 Mont Vert Marc,
Pashan-Sus Road
Pune 411 008, Maharashtra, India Phone:
91-20-25862633 Admin
91-20-25861003 Sales

Email: info@montverthomes.com

2) Well ventilated homes near Balewadi Stadium, Baner:

Besides usual Advanced Digital Home System, Most Modern Amenities, Eco-friendly Homes, Innovative Landscape Features this time in "Rohan apartment", Rohan says,
" We bring you air supply like never before. Rohan Leher features the unique PLUS Homes design, with spacious rooms and strategically placed doors and windows, which allow air to flow freely inside. It's not just you and your family who can enjoy the smart space inside; there is enough room for lots of fresh air too. Come, enjoy air supply"
Pradeep Chambers,
813, Bhandarkar Institute Road,
Pune: 411004,

Tel : 91-20-2567-4413/14/15
Fax : 91-20-2565-1103
Mobile : +919373019139
Email :housing@rohanbuilders.com
SMS ROHAN to 54646

3) 2 and 3 Bhk terrace garden homes at Wakad with a secure school bus stop!:

Sukhawani Chawala's Dynasty, Wakad has a show apartment. Visit it for an "exhilarating experience!" and avail a special Gudi Padwa offer!

Site Office:
Dynasty, S. No. 207, Wakad, Pune
(Maharashtra State) India
Tel: +91-20-65103333
Moble: +91-99215 60001, 99215 70001
Email: info@dynasty.co.in

4) Rise before the price rise!:

Rama Group says:
"Simply book your apartment at Swiss County before the 6th April, 2008 and avail the benefit before the Price Hike."
Swiss County has 2 and 3 bhk flats and the location is at Wakad - annex Thergaon (!). Special features are in Minutes - Expressway - 5 Mins, Hinjewadi IT Park - 8 Mins, Aditya Birla Hospital - 2 Mins and many more!

5) Fully developed Bungalow plots on Kothrud - Pirangut Road (?):

Aditya Nissarg, Bungalow Plots' Colony is launching new phase. Plot sizes are 3,000 to 5,000 sq.ft. Floor space index (FSI) is "ONE". Book your plot and enjoy the club for a life time, may be the offer.

Corporate Office
619 Sadashiv Peth, Bajirao Road,
Opp. Bank of Maharashtra,
Pune 411030.
Maharashtra. INDIA.

Tel. : 91 020 24490851 / 2 / 3
Fax. : 91 020 24459146

Mumbai Office:
714, Gokhale Road (N),
Above Sangli Bank,
Dadar (W),
Mumbai - 4000028.
Maharashtra. INDIA.

Tel. : 91 022 24440237
Telefax : 91 022 24450376

SMS: ADITYA AD to 54646

6)Fill in the blanks: Special rate for booking: Rs.----Per sq.ft.*

(*)Star means: This special booking rate is applicable for the first 25 bookings only. First come first serve basis.

The project is Venkatesh Serenity - "A majestic residential project of opulent bungalows on every floor (!)". Location is in Pune Municipal Corporation at Dhayri, on Sinhagad road. Not in Ambegaon, on the new Mumbai - Bangalore bypass!

Happy Gudi Padava! Subscribe to this blog in RSS or get every post in your mail box! Please, express your views on these projects in the comments. We all are eager to read you!

Thursday, April 3, 2008

Pune real estate slowdown - the records of the stamp and registration office underline slowdown in Pune property market

While the conveyance deeds have remained static in the last three months, registrations by way of leave and license as also lease contracts have shown a steady rise.

Conveyance deeds

Till February-end, the records show the registration of 28,052 conveyance deeds, with the graph peaking in September with 3,011 conveyance deeds. Thereafter, it dropped and has been averaging around 2,500 deeds per month.

Leave and License agreements

Meanwhile, there has been an increase in registration of leave and license agreements as also lease contracts in the corresponding period. The leave and license agreements which was at its lowest in November last year at 1,020 has been showing upward movement since then. Having touched 1,431 in December. The number of such agreements peaked jumped to 1,878 in January and before steadying at 1,773 in February
- ExpressIndia.Com

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Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front (?)

Wednesday, April 2, 2008

Pune real estate slowdown - ‘‘There May Be Short-term Slowdown In Real Estate,’’ Shamsu and Hussain Lalani, Directors, Lalani Group

Having carved a niche in Mumbai’s high-end and middle-income residential segment with over 20 projects since 1985, the Lalani Group of Developers and Builders has now set its sights on the fast developing Thane and Pune markets.

Projects on the anvil here include a premium residential project at Thane’s Ghodbunder road and a state-of-the-art IT Park at Bavdhan, close to Pune’s IT hub of Hinjewadi.

In an exclusive interview, the company’s young directors, Shamsu and Hussain Lalani, sons of founder Shaukat Lalani, shed light on their future plans and their views on the current turbulent real estate market scenario. Excerpt:

Q. RK: On the downside, real estate growth is said to have slowed down considerably due to negative factors like increasing home loan rates, overheated market scenario, indifferent budget, hike in input costs and rising property prices.
How do you assess the impact of these key factors on real estate growth and its pricing mechanism in the near future?

HL: With home loan rates climbing from around 7.5 per cent to the current 10.5 percent, it’s definitely going to pinch the customer thereby impacting the market. But this will slow down demand only in the short term, simply because at the end of the day if somebody wants to buy a house he will still go ahead and buy one, irrespective of the home loan rates.

Transactions might slow down in the short term and there might be a slight price correction to the extent of 10-15 per cent in areas where realty prices have doubled and even trebled in the last two years, but the market is not going to fall. I don’t think there will be a repeat of the 1995 scenario when the property market really crashed and created a huge turmoil. Even if there is a minor price correction in overheated areas, the market will still climb eventually, though it might not be at the same pace as in the past two years. However there will still be moderate growth.
Indian Real Estate Research Property India Real Estate

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1. Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front (?)

2. Pune real estate slowdown - HDFC says correction will not be as drastic as 1996, simply because Pune real estate market is driven by the end user

3. Pune real estate slowdown: school exams may be the reason says Sachin Bora, director of Samrat Constructions

4. Property prices at Hingewadi, Wakad and Chakan in Pune are still seeing appreciation - observes Sanjay Dutt, Joint MD of Cushman & Wakefield

5. Is real estate market slowing down?

6. Congrats Pune real estate investors, for thinking irrationally and paying illogically high price for the newly launched property

Pune Real Estate Slowdown - with fewer transactions happening and values holding, the real estate action has shifted to the rental front (?)

Press Release - Desperate attempt of Pune real estate brokers - agents or a fact?

According to broker Raju Punjabi, Astitva Real-estates,
" The investor has almost entirely exited the Pune market and the residential sector is now driven by the serious end user." Since the residential property is available for sale at high capital costs and there is a wide gap between monthly EMI and monthly rent, the end user is moving towards the affordable rental option."

The monthly rental of a 2BHK flat:

A 2BHK apartment is the maximum transacted residential property in Pune and is currently fetching a monthly rental of Rs 15,000 in posh localities such as Koregaon Park and Kalyani Nagar.

Kalyani Nagar due to its well laid out social infrastructure, good ambience and quality of life is in great demand by IT professionals.

If however the accommodation is semi/fully furnished the value goes up till Rs 20,000 per month.

In Kharadi which is an upcoming suburb of Pune, the monthly rental of a 2BHK is Rs 8-10,000 while in Viman Nagar, it is Rs 12,000.
Rental Market Driving Pune's Residential Real Estate