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Sunday, June 29, 2008

Is it an invitation for a collaboration or a proclamation of war or the last warning to Pune real estate developers?

Housing group of 100 IT professionals in Infosys is looking for a reputed developer!:



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Posted by Ravi Karandeekar at Sunday, June 29, 2008 8 comments
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PRA Realty, Pune real estate developer, to launch residential integrated townships in Pune, Nashik and Nagpur

Pune-based real estate developer PRA Realty today said it will spend $100-125 million to develop the required infrastructure for its three upcoming townships in Pune, Nashik and Nagpur.

"We have already acquired over 100 acres of land in Pune, 180 acres in Nagpur and 108 acres in Nashik for developing three integrated residential townships for around $100 million. We will now invest between $100-125 million for the development of infrastructure in these three," company Managing Director, Rustom Bharucha said here.

Bharucha said work on the Pune project will start August this year followed by the Nashik project and the Nagpur project in the first quarter and second quarter of the next financial year respectively.
PRA to invest in developing infra for townships

Rustom Bharucha! Who?:

Business Standard says, PRA Realty will be targeting middle-income group and primarily tier-III cities will be the focus areas of the company in the coming days. Sounds good! Isn't it? But who is Rustom Bharucha? An MBA from Australia's Deakin University! That's all?

But name sound quite familiar to me. Oh! I know one Rustom Bharucha. But he is a writer, director and cultural critic from Kolkata!

Who is this 'Rustom Bharucha'? Website of PRA Realty says:

MR. RUSTOM BHARUCHA (Managing Director)

Mr. Bharuch is responsible for securing deal flow and managing the property development pipeline.

As the head of business development, planning, and real estate for another Maharashtra-based firm (Panchshil?), Mr. Bharucha was responsible for the acquisition and planning of the International Convention Centre project in Pune (Panchshil!) with 1.8 million sq.ft. of IT, office, and retail space along with a 5 star hotel and convention centre.

Mr. Bharucha has acquired land and been responsible for the planning and development of more than two million square feet of IT parks where he executed the planning and design strategy with international teams of architects and consultants.

His former clients include Deutsche Telekom, Cognizant Technologies, IBM, AXA and British Telecom.

Posted by Ravi Karandeekar at Sunday, June 29, 2008 2 comments
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Wednesday, June 25, 2008

With interest rates set to rise - real estate, automobile and consumer durable companies to see their sales dropping in the coming days

Banks will also be hit as higher interest rates lead to lower credit growth, and in turn impact their bottom line.
This will keep investors away from these sectors.

Late Tuesday, Reserve Bank of India stepped its war against inflation by raising the cash reserve ratio and repo rate by 50 basis points each, just a day after Governor YV Reddy gave all indications to the contrary.

The RBI raised its key lending rate by 50 basis points to 8.5 per cent with immediate effect, the highest since March 2002 and the second hike this month. It also increased the cash reserve ratio to 8.75 per cent from 8.25 per cent in two stages, on July 5 and July 19.

With every successive rate hike, the whole credit growth paradigm is shifting downward. In turn, housing loans, consumer loans, and all interest rate sensitive sectors will face the heat, say marketmen.

The real estate sector faces a double blow:

Decrease in demand is likely owing to higher borrowing costs, and because of higher cost of construction, the cost of funds will increase.
Tough road ahead for interest rate sensitive sectors-The Economic Times

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Posted by Ravi Karandeekar at Wednesday, June 25, 2008 0 comments
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RBI hikes key rates by 50 bps

Challenged by unrelenting inflationary pressures, Reserve Bank on Tuesday announced stringent measures of hiking mandatory cash reserve of the banks and its short-term lending rate to them to suck up an estimated Rs 20,000 crore. According to analysts, the move could make loans dearer for housing, car and personal expenses as also to the industry.

Posted by Ravi Karandeekar at Wednesday, June 25, 2008 0 comments

Indian Real estate industry though hit hard by high interest rates, feels that high rate of inflation might be a blessing in disguise

"Historically, if you see, people used to invest either in real estate or gold to hedge inflation. Only in recent times people are investing in shares, but real estate is a long-term investment and so it is the best bait for investment when inflation is higher," Hiranandani Construction's Managing Director Niranjan Hiranandani said.

The higher the inflation, the more the depreciation of rupee and the costlier the properties. Thus when inflation is inching up, people should invest in real estates, the prices of which are certain to go up further, he said.
DNA - Money - Real estate helps in hedging against inflation: Hiranandani

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Posted by Ravi Karandeekar at Wednesday, June 25, 2008 5 comments
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Monday, June 23, 2008

Rohan Builders opens bookings of Rohan Mithila at Viman Nagar in Pune at Rs. 4,150 per sq.ft.

Subscribe to my Ravi Karandeekar's Pune Real Estate Market News Blog:

If you are visiting my blog for the first time, please, subscribe! Why? Because, subscribers could took the benefit of pre-launch offer of Rohan Mithila and booked the property at Rs. 4,000! Subscribers to Ravi Karandeekar's Pune Real Estate Market News Blogs saved Rs. 150 per sq.ft.

Website of Rohan Builders is still down!

But you do not have to worry. On my Ravi Karandeekar's Pune Real Estate Market News Blog, i will try my best to give you maximum info about Roahan Mithila. ( To know about my all blogs, please, visit Ravi Karandeekar's Pune Real Estate Blog Group on Google. Join my Google Group if you are interested in all Pune real estate related topics. Thanks!) If you want to know something specific, you can call me on my mobile 91 98600 44110. You know, first 15 minutes talking is free!

My regular readers, sorry, i had to start with this because i have found out that lot of new readers are coming here from Google Search for the first time.

Rohan Mithila - Rohan Builders biggest project!

If you click the ad, the enlarged view can tell you few things about the project.
1) Rohan Mithila is Rohan Builder's biggest project, yet.

2) Rohan Mithila will have world class standards.

3) Rohan Mithila is 56 acres in size.

4) Homes in Rohan Mithila are breezier. Remember "breeze", please do not expect "air" here. If you want Air supply, please, visit well ventilated homes in Rohan Leher, near Balewadi Stadium, Baner.

5)Rohan Mithila has luxurious apartments, duplex and penthouses.

Row hoses are not available for bookings.

Homes at Rohan Mithila are more specious. Please, do not apply world class standards or even Pune standards of speciousness. 'Specious' from Rohan Builders' standards.
2 bhk flat - saleable area 1,230 sq.ft.
3 bhk flat - saleable area 1,453 sq.ft.
Carpet area is not available.

6) Homes at Rohan Mithila will be lit by copious ( abundant, plentiful as per Oxford English Minidictionary) amounts of (free!) natural lite.

7)Homes in Rohan Mithila will be surrounded by lush-green landscape. ( over 6 lakh sq.ft.) Lush green is the uniqueness of this landscape.

8) The landscape, sorry, lush green landscape and 7 swimming pools of Rohan Mithila will make the beholder stare in awe. I am sure about this. Because Rohan Mithila is in Viman Nagar. And in the dictionary of Viman Nagar, there is no W after alphabet V.

9) Rohan Mithila will have modern amenities.

10) Rohan Mithila will be wrapped in absolute tranquility. One more wonder, considering that Rohan Mithila is close to Lohagaon Airport which belongs to Indian Air Force and it's a base of Sukhoi fighters.


11) Rohan Mithila will have unknown luxuries! For example? Not mentioned in the ad. May be frequent free sprays of aviation turbine fuel from the sky! Please, find out when you visit the site office.

12) Rohan Builders have given more attention to the details.

13) Rohan Mithila is going to become a latest land mark near Viman Nagar. You may exchange flying kisses when you take off:



14) Rohan Builders appeal you to prepare yourself to wish little bigger. What can be a bigger than this? I don't know. May be a home near this. If you know, please, let me know in the comments.

To know more:

Please send a mail to

mithila@rohanbuilders.com

Call: 91 020 2567 1110
91 020 2567 4413/4/5/6

Website: www.rohanbuilders.com

Commercial Complex and Star Hotel:

Yes, Rohan Mithila is not only a residential scheme. It's commercial cum residential project. Rohan Mithila will have a 1.5 million sq.ft. commercial complex and a star rated business hotel. Rohan Builders' Rohan Mithila at Viman Nagar is Pune's Pride!

Posted by Ravi Karandeekar at Monday, June 23, 2008 0 comments

Saturday, June 21, 2008

Magarpatta's Nanded City - Pune: Mr. Suresh Kalmadi, MP and Chairman, Pune Vyaspeeth, you too?

Suresh Kalmadi and Magarpatta's Nanded City! Impossible! How can Sharad Pawar and Suresh Kalmadi support and promote the same cause? (Even it is for the betterment of Pune!)

Recently, at a press conference, as per the news in ZDNetIndia, Suresh Kalmadi, MP (Indian National Congress) and chairman of Pune Vyaspeeth, the initiator of Hi Tech Pune-Maharashtra 2008 conference, said:

"This time we thought we will go a step further. We are happy to inform you that this year we are presenting the sunrise industry of animation and gaming under this banner."

Why Mr. Suresh Kalmadi?

Why are you so keen about "animation and gaming industry"? According to experts one of the reason for Pune to be chosen as a natural hub for animation industry is because its proximity to Bollywood. Another is the large student base the city has to offer.

You read Ravi Karandeekar's Pune Real Estate Market News Blog regularly. You and i know the truth. It is not as obvious as they say -
First, it was information technology, then came biotechnology and now Pune's heavyweights want to make a mark in the animation sector.
We know this is all about promoting Animation and Gaming Park in Nanded City - Pune. This Animation and Gaming Park, spread over 40 acres, is to be an integral part of the development here ( visit the layout of 700 acre Nanded City - Pune on Flickr). This industry which perpetually needs fresh thoughts and ideas will provide an immense employment opportunity for the young educated genre who will find Nanded City ideal to work and settle in.

Was Mr. Sharad Pawar serious?

You know, when i visited the venue of launch of Nended City - Pune, my co passenger described it as a "Sharad Pawar's company's program!".

I did not pay much attention to him because in Pune real estate market, i meet at least 10 people every day who give me an exclusive news about which politician owns which real estate project.

But on the occasion of launch of Nanded City - Pune, Sharad Pawar, Union Minister for Agriculture and founder and leader of Nationalist Congress Party, himself talked about his "ownership" of Nanded City - Pune!

Mr. Sharad Pawar said, other day in Delhi, he saw a magzine. His photo was on the cover, so he opened it. The magazine said 'Sharad Pawar is launching his 2nd mega township in Pune.' First was Magarpatta, said magazine. On this Sharad Pawar told the audience, "Yes i wish. I would have been happy. But, however, I support! Because these boys are doing something good. Good for the common man. For the farmers!" Then Sharad Pawar started talking about serious issues - farming, employment in rural Maharashtra and urbanization. Great! One more example of great oratory skills of Sharad Pawar, i said to myself.

Hello! Mr. Ravi Karandeekar?

I do not know exactly why Mr. Suresh Kalmadi or Mr. Sharad Pawar are so much interested in Nanded City - Pune. You are free to guess about their role or hold in the 700 acre mega township on Sinhagad road.

But, please, control your imagination when you think of me. I am only a blogger. I blog Pune real estate market news. You can subscribe, express your views in the comments, follow me on Twitter to keep yourself updated about latest Pune real estate market news. You can feel free to call me on mobile 91 98600 44110 to discuss, suggest and consult about any project in Pune real estate market.

But you should never think that i can help you in booking 1 bhk, 2 bhk or a 3 bhk flat in Nanded City - Pune. Whenever anybody calls me, i make it clear that i am not working for or i am not an booking agent or i do not have any 'connection' to Nanded City Pune.

For the official information about the bookings you should call:
Nanded City Pune's office on
91 020 6470 5471 / 72 / 74
in the office hours - 10.30 am to 6.30 pm(IST).

Of course, i wish, i...kidding... sounds politically correct!

Related Stories:

1) Is Nanded City, Pune all about real estate development?

2) Launching of Nanded City, Pune - A farewell to India!

3) "Magarpatta City in Pune could be the model for a land acquisition and rehabilitation policy of The Confederation of Indian Industry ", Sunil Mittal

Posted by Ravi Karandeekar at Saturday, June 21, 2008 0 comments

Friday, June 20, 2008

6 Shockingly Eccentric Converted Properties

For a small percentage of the home-buying public just the thought of moving into a traditional house (and by traditional I mean 4 walled and static) is a stomach turner. To these people moving into a neat new-build home would seem as crazy as a freshly converted Boeing 727 seems to you and I.

Here are some of the most impressively eccentric property conversions around:

1) The Converted Boeing 727


Nubricks

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Posted by Ravi Karandeekar at Friday, June 20, 2008 0 comments

Thursday, June 19, 2008

What can we learn from the 'open fight at Nyati Enclave between builder, residents and Pune Municipal Corporation'

Pune Mirror - Wakes you up!:

Aditya Dev has written a story on the front page of Pune Mirror, Wednesday June 18,2008, about the fight between the Defense officers who bought flats in Nyati Enclave at Mohammedwadi, builder of the project Nitin Nyati of Nyati Group and Pune Municipal Corporation. We can learn very important lessons from this story.

1) Actual execution of the project may not be exactly as per the conceptual presentation:

Aditya says 'defense officers feel cheated of their hard earned investment'. The reason is - "the rosy picture painted by marketing agents about the project is nowhere close to reality."

What we can learn from this is - we have to keep in mind that there may be some difference in the conceptual presentation we see at the time of the booking and the actual development. Builders inform us about this possibility in the brochure of the project. I am sure, you must have seen the note printed on the brochure. Generally, it reads like this:
The contents of this brochure are purely conceptual and have no legal binding on us. The developers reserve the right to amend the layout, number of floors, number of flats, elevation, colour scheme, specifications and amenities.
Generally, this note is printed on the last page or on the second last page of the brochure. On the website, you will find 'disclaimer'. If the website is well designed, a link to disclaimer page is given on the home page. Please read the disclaimers of Kumar Properties' Megapolis and City Group's Amanora Park Town.

Land, drinking water and road:

According to Aditya, residents of Nyati Enclave, 300 families of defense officers, are fighting since 2 years for the 3 reasons,
1) Huge chunk of open space doesn't exist in reality
2) No approach road
3) Terrible water supply
We all know that these are the fundamental issues. We have to deal with these issues in any real estate project in and around Pune. We can say, less in some projects which are in Pune than the projects which are around Pune. That's why people are happy to pay Rs. 6,000 per sq.ft. for the project in my neighborhood on Paud road in Kothrud, in Pethkar Project's Samrajya - Balwantpuram!

However, good news is, you can deal with these issues. But first, you have to accept that you are buying a concept. There are possibilities of changes while executing that concept. Our experience tells us that when we become aware about any possible danger, we start finding ways to deal with it and mostly we are successful.

Conversation and subscription:

We are not finding ways to get the same size of the layout, ample water supply and the proper approach road but we are fighting for safe, happy and prosperous life for our family.

In this fight, subscribing and taking part in the conversation by posting comments on Ravi Karandeekar's Pune Real Estate Market News Blog, forwarding this post to your 10 friends and following me on Twitter may prove useful to you.

Because, i am not blogging to sell the flats. I am blogging to assist you to have less complicated and more simple family life. That's why, we will talk about other lessons we could learn form Nyati Enclave incident in the next posts.

Related Stories:

1) Fool who purchased flat in pune..(!)

2) How to differentiate between a good builder from the bad?

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

Posted by Ravi Karandeekar at Thursday, June 19, 2008 11 comments

Tuesday, June 17, 2008

Peacechitecture - Can Architects End The Arab-Israeli Conflict? (GALLERY)

(TREND HUNTER) Water control is a big and long-standing political problem in the Middle East. Having lived in both Syria and Jordan, I know first-hand the importance of this issue and the toll it takes on political relations… [More]


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Posted by Ravi Karandeekar at Tuesday, June 17, 2008 0 comments

Fool who purchased flat in pune..(!)

This is a name of the blog! Fool who purchased flat in pune... This is VK's blog. In the profile VK has not told us anything about himself. Considering the content, this is fine. You can easily make out from the name of the blog itself that this blog is about the 'experiences' of the end-users, property buyers, people who have booked their dream homes, 2 bhk / 3 bhk flats in Pune real estate market.

Never book a flat until:

Most of the time, we talk a lot about the specifications, amenities and booking rate of the property. Of course, these things are important. But you can not take a decision only on these points. Concept is always glamorous. Property price can be less or more. We know, real estate rate does not reflect the worth of the project.

We have to remember that builder always presents his concept as if it is a finished product. But when we book a flat, we are only placing an order. Your flat is going to be constructed and you wish or not you are going to get involved in the manufacturing process.

Obviously, you have to consider the experiences of the people who had an experience of dealing with the same builder. True, every project is totally different in all respect. Still, after visiting the previous project and talking to the residents in that project, you can get an idea about the way the builder treats the customer and executes the project.

Hot properties in Pune real estate:

This is a news blog. I give an exclusive news about Pune real estate market. You must subscribe to 'Ravi Karandeekar's Pune real estate market news blog' to keep yourself updated. Know about upcoming projects, real estate rates, Pune real estate boom or slowdown.

But you should never book a flat without visiting the previous projects of the builder and without talking to his old customers. If you do this you, you will not be considered as a 'fool who purchased flat in Pune'!

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Posted by Ravi Karandeekar at Tuesday, June 17, 2008 3 comments

Monday, June 16, 2008

Rohan Mithila at Viman Nagar, Pune - pre-launch bookings of 2 bhk and 3 bhk flats opens at Rs. 4,000 per sq.ft.

June 22, 2008 - official launch of Rohan Mithila:

Do you believe that Rs. 4,000 is a pre-launch offer of Rohan Mithila? Of course, this is a basic rate, plus there are premiums - garden facing and what not. Roughly, the budget of 2 bhk flat of 1,250 sq.ft. (approx) is around 50 lakh. 3 bhk flat of 1,600 sq.ft. (approx) is roughly around 80 lakh.

Do you know where the site is? Rohan Mithila is near Konark Puram, far inside the Viman Nagar, actually near Airport. Website of Rohan Builders is down, under maintenance. Brochures are not yet ready. But there is a site office. And, the sample flat! You can meet Manoj Joshi (91 93730 19141) at the site office. Pay him a token of 2 lakh rupees and take an advantage of pre-launch offer.

Special Discounts?:

I am not sure, but somebody told me. There are special discounts too. After visiting the sample flat if you could perform some simple wonders you become eligible for the discount. I want to take advantage of the discount scheme. I want to save couple of lakh rupees. That's why i postponed visiting the site. I am working on my bottle opening and idli eating skills.

Ravi Karandeekar - "Pride of Pune":

To know how many idlis i eat in 15 minutes, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog. Join me on Twitter to know instantly when i become a "Pride of Pune"!

Rohan Mithila - "Pride of Pune":

For any assisstance please contact:
Rohan Builders (India) Pvt. Ltd.
Pradeep Chambers,
813, Bhandarkar Institute Road,
Pune: 411004,
Maharashtra,
INDIA.

Tel : 91-20-2567-4413/14/15
Fax : 91-20-2565-1103
Mobile : +919373019139
Email :housing@rohanbuilders.com
Website: www.rohanbuilders.com

Posted by Ravi Karandeekar at Monday, June 16, 2008 14 comments

Pune Real Estate Summit & Excellence Awards 2008 presented by Amicus Enviro Consultancy, a Delhi-based environment consultancy firm


1) Best real estate company: Kumar Builders

2) Best retail project (built): Pune Central - Kumar Builders

3) Best environment friendly project: Kumar Sublime - Kumar Builders
( 2, 21/2 BHK and 3 BHK spacious 3 side open terrace apartments on NIBM Road Kondhwa, Pune )

4) Uva entrepreneur: Kruti Kumar Jain - Kumar Builders

5) Best Trusted Brand: Vascon Engineers

6) Best real estate marketing campaign: Lunkad Realty

7) City Corporation (Amanora Park Town) bagged 4 awards

8) Panchshil bagged 3 awards

:Express News Service

Related Links:

A) Pune Central:

1) Wikimapia;

2) Review-stream:

3) Second Pune Central mall opens at University Road:

4) Mouth shut Review

B) Amicus Enviro offers a wide range of environmental and surveys consulting services including the Environmental Studies, Environmental Management Plan and Environmental Auditing, Environmental Impact Assessment (EIA), Waste Water Treatment/ Management, Rain Water Harvesting (RWH), Groundwater Investigation, Soil & Material Testing, Route Survey, ISO Certification etc.

Would you like to give awards to Pune Builders?

If you feel like giving your awards to Pune real estate developers, go ahead and give! You do not have to book "Le Meridien on Saturday evening" for your awards function. There is no need to entertain your guests with dances on popular chart busters.

You can start with a "Best real estate company" but you can add your own categories too. Yes, you can give away your "most prestigious award" to one Builder or Project but you can nominate as many as you wish for the particular category.

Remember, all builders in Pune sincerely believe that there is nothing like receiving an award from your own customer! Trust me, Pune builders will be more than happy to bag your awards. So go ahead and give your awards in the comments.

Remember to subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog to read about which builder gets what award!

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Posted by Ravi Karandeekar at Monday, June 16, 2008 0 comments

Saturday, June 14, 2008

Kumar Properties' Park Infinia at Fursungi - increases property rate to Rs. 2,600 per sq.ft.!

Rs. 2,500 per sq.ft. was an introductory offer of Kumar Properties' Park Infinia, 41 acres garden township of 1,008 flats at Fursungi in Hadapsar. We all knew that the property rate was going to increase! Yes, in one week booking rate is increased by 100 rupees.
At 2,500:
1) 2 bhk flat - 1100 sq.ft. - Rs. 31.43 Lakh
2) 3bhk flat - 1570 / 1585 sq.ft. - Rs. 43.60 to 44 Lakh
Now at 2,600:
1) 2 bhk flat - 1100 sq.ft. - is for 32,55,200
2) 3 bhk flat - 1570 / 1585 sq.ft. - is for 45,22,040 & 45,61,820

Congrats! Kumar Properties for increasing the rate!

When SRK Developers launched OvalNest at Warje - Kothrud annex, they have given 'One Rate Commitment: No rate rise for the first 2 days'! Kumar Properties had not given any commitment about the rate. They have only said "special inaugural offer".

So as per the conventional practice, Kumar Properties was free to close the offer and increase the rate. Particularly, when all 3 buildings were almost booked in the first 2 days and they had to open new buildings on the weekend! But Kumar Properties did not increase the rate. They let people confirm the bookings till Monday evening. And then, increased the rate.

Congrats, Kumar Properties! For offering the rate. For not increasing the rate. And for increasing the rate. (Sounds funny, but think of those who have booked. Smart fellows!)

Comment and Subscribe:

1) If you are visiting this blog for the first time, please, read the comments too. You will enjoy the discussion. Please, join the discussion by posting your comment.
2) To receive latest blog in your email box, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog.
3) If you want to talk to me, please, call me on +91 98600 44110. 'Talk' means you can even say 'Hello Ravi, how are you?'
4) You can also join me on Twitter.
Let us have a meaningful conversation on "Pune real estate".

Contact Park Infinia:

1)91 020 3052 8888
2)91 020 3234 1101/02/03/04

3) SMS - KP - send to -54646 (yes, they call back!!!)

4) email: sales@parkinfinia.co.in

5) Website - www.parkinfinia.co.in

Related Stories:

1) After Megapolis at Hinjewadi, Kumar Properties launches Park Infinia, garden township of 1008 flats at Fursungi in Pune, at Rs.2,500 per sq.ft.

2) Kumar Properties' Park Infinia at Fursungi and Pune real estate dilemma

Posted by Ravi Karandeekar at Saturday, June 14, 2008 7 comments

Friday, June 13, 2008

e-Governance in Pune - Anupam Saraph, CIO of Pune, lays out his vision

iLife:

The pain of providing the same information over and over at different counters is history. The first time I registered myself to ilife, through my computer at home, I was asked to provide information to identify myself. I was requested to visit any one of the 14 ward offices to provide a photograph and my thumbprint to receive my Pune-card, my username and a password to access ilife. That was it.

My Pune-card:

My Pune-card provides me with cashless bus-travel, parking and entry into all electronic access public locations as well as electronic entry enabled private locations. It works as a cash-card and also replaces time-consuming procedures with countless forms to make applications.

It simplifies and secures transactions as I can simply allow the service providers to swipe my card and take my thumbprint to access information. Only information that I have marked as allow through Pune-card will be accessed at points-of-transaction. The transaction is updated in my account on ilife.

read more | digg story

Related Story:

Digital Amanora Park Township:

Posted by Ravi Karandeekar at Friday, June 13, 2008 0 comments

Thursday, June 12, 2008

Ashok Piramal's Peninsula Land Ltd to launch an integrated township in this August

Dear Pune property buyers, as you always do, you must book 50% flats on the 'day of launch' and ensure cash flow for the construction of the project!


Pooja Sarkar has written story "Peninsula widens portfolio with IT parks, townships" in today's DNA Money. There is hardly any new information about Peninsula's upcoming townships in Pune, Nashik and Hydrabad. I had already blogged this in October 2007. So, i thought, what would be the reason behind recycling the old story?

Congrats! Pune real estate investors and end users - means 'home buyers', you have become world famous for your property booking habits. Now, every builder in India is banking on you. See your recent achievements -


1) Nanded City Pune - without any floor plans or without any papers, out of 18,000 flats you booked 50% on the day of the launch at Rs. 3,200 per sq.ft. and at Rs. 2750 per sq.ft. in pre-launch offer.

2) Kumar Properties' Park Infinia at Fursungi all 3 buildings opened for bookings were booked by the weekend at Rs. 2,500 per sq.ft.

3) Kumar Properties' Megapolis at Hinjewadi - out of 330 flats opened for bookings 270 flats are already booked!

4) Mont Vert Seville at Wakad - you booked 251 affordable 2 bhk and 3 bhk flats in 2.5 days!

5) SRK Developers' OvalNest at Warje- you booked all 350 flats at Rs.3,500 per sq.ft. by Sunday evening.

6) At Chakan you gave overwhelming response to Eiffel City and proved that Yes, Chakan is really, 'the hot real estate investment destination!'

Pune! Only hope in real estate slow down?

Pooja quotes an analyst from a foreign brokerage, who did not wish to be named-
"The company is taking a very risky decision by putting up five huge projects during the same time, because looking at the present conditions it is unsure whether it will be able to sell the residential units."
Why Peninsula is so confident about it's success? Because -

1) Peninsula has signed a memorandum of understanding with Lehman Brothers whereby the US-based investment bank will invest $125 million in Peninsula’s projects and hold minority stake in them.

2) Indigo, Peninsula's domestic fund, which recently collected Rs 2,000 crore.

No! The truth is, we, the Pune property buyers! Congrats, once again! Please, subscribe to my "Ravi Karandeekar's Pune real estate market news blog" and do not miss a single real estate investment opportunity. For example, Rohan Mithila!

Posted by Ravi Karandeekar at Thursday, June 12, 2008 13 comments

Wednesday, June 11, 2008

Looking for the People's House

But the economics of India are fast changing and there is a growing awareness of a rising lower middle class. The Tatas have realized this and have just given us the ‘people’s car’; will someone please give us the ‘people’s house’

read more | digg story
Posted by Ravi Karandeekar at Wednesday, June 11, 2008 2 comments

Quality of Living global city rankings – Mercer survey

Bangalore (140), Mumbai (142)-
A marked improvement in their rankings since 2007:

European cities dominate the worldwide rankings of locations with the best quality of living, according to Mercer’s 2008 Quality of Living survey. Zurich retains its 2007 title as the highest ranked city, followed jointly by Vienna (2), Geneva (2), then Vancouver (4) and Auckland (5).

In the UK, London ranks 38, while Birmingham and Glasgow are jointly 56. The highest entry for the United States is Honolulu, appearing at number 28. The cities with the lowest quality of living ranking are Ndjamena (211), Khartoum (212), Brazzaville (213) and Bangui (214). Baghdad, ranking 215, retains its position at the bottom of the table.

The rankings are based on a point scoring index, which sees Zurich scoring 108, while Baghdad scores 13.5. Cities are compared to New York as the base city, with an index score of 100. The quality of living survey covers 215 cities and is conducted to help governments and major companies place employees on international assignments.

The survey also identifies those cities with the highest personal safety ranking based on internal stability, crime, effectiveness of law enforcement and relationships with other countries. Luxembourg is top, followed by Bern, Geneva, Helsinki and Zurich, all equally placed at number 2. Chicago, Houston and San Francisco are amongst the safest cities in the US, all ranking at 53. Baghdad (215) is the world’s least safe city along with Kinshasa (214), Karachi (213), Nairobi (212) and Bangui (211). Luxembourg scores 131.4 on the index while Baghdad scores 3.8.

According to Slagin Parakatil, senior researcher at Mercer, “Businesses face constant challenges in identifying new markets, expanding operations and acquiring and strategically deploying resources. Establishing suitable allowances linked to local costs and quality of living is essential in encouraging expatriate employees with transferable skills to accept international assignments.”

He added: “Personal and family safety is of paramount importance when employees consider opportunities overseas. Cities that are, or are perceived as, unsafe may experience difficulties in attracting the best people and skills. Read More
Posted by Ravi Karandeekar at Wednesday, June 11, 2008 1 comments
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Tuesday, June 10, 2008

Magarpatta's Nanded City Pune closes it's offer of phase 1 with a promise to open 2nd phase in December 2008

Who said we are interested in the 2nd phase of inquiries!


On the foundation of frustration about Pune real estate market and desperation about housing, 'Nanded City Pune' developed huge hope in the minds of the property buyers.

All inclusive model of Magarpatta City will also include the middle class was the hope of the majority. Thousands of 1 bhk flats was the main attraction.

Taking advantage of this Mr. Satish Magar, Chairman and Managing Director of Magarpatta Township Development and Construction Company Limited gave us an offer of Rs. 3,200 per sq. ft. which we couldn't refuse.

Along with this offer, Chairman of Nanded City Development and Construction Company Ltd. had sent a message - Consider 'Nanded City Pune' as any other real estate development project in Pune. Book your 1 bhk, 2 bhk, 3bhk flat for the quality of the construction and infrastructure support we offer. Treat us as you treat Amul Butter. Buy it for the taste, not because it is produced by the farmers co-operative!

Amen!



We, the middle class citizens of urban India, want affordable housing.

Is there any upcoming real estate project which is in tune with the people?

Hope and subscribe to "Ravi Karandeekar's Pune Real Estate Market News Blog" to know.

Posted by Ravi Karandeekar at Tuesday, June 10, 2008 12 comments
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Monday, June 9, 2008

Kumar Properties' Park Infinia at Fursungi and Pune real estate dilemma

Romance of Venice, Peace of Zen gardens, Style of Beverly Hills…all at Rs. 2,500 per sq.ft.:

On the morning of 5TH June 2008, the day bookings of Nanded City - Pune were going to open, i saw the full page launch ad of Kumar Properties' Park Infinia. Property rate Rs. 2,500/- per sq.ft. was the special introductory offer. "Booking rate 2,500! Hurray!!!" was my instant response.

2 bhk flat in 31.4 lakhs and 3 bhk flat in 43.6 to 44 lakhs in Pune real estate market was simply a great news. Kumar Properties, leading builder in Pune was offering this was also very important.

Fursungi in Hadapsar may not be that popular residential area toady but the close proximity to S.P Infocity, Hadapsar Khardi IT belt and D. S. Kulkarni Developers' upcoming SEZ at Fursungi makes it an attractive residential as well as investment 'destination', i thought.

When i visited the website of Park Infinia, i did not understand why Kumar Properties was talking about "Romance of Venice, Peace of Zen gardens, Style of Beverly Hills"! 41 acre size, long list of amenities and real estate rate were enough and attractive. Was Kumar Properties was in dilemma because of the not so popular location of Fursungi?

Mont Vert's Dilemma: Affordable or Upmarket:

Not only we, the property buyers, but builders also face real estate dilemmas. Couple of days ago, Manish Kaneria, of Mont Vert Seville at Wakad, told me, only 51 bookings in first 5 hours and above 251 bookings by Sunday evening resolved his dilemma - "Should i make an affordable homes or stick to my niche?" Mont Vert, you know, develops up market, prime properties but they have realized the need of the IT professionals working in Hinjewadi was a quality home in an affordable budget.

Dilemma: Nanded City - Pune or Park Infinia?:

By now, i was completely into Pune real estate 'dilemmas' mode. 'What would be the reaction of the residents of Magarpatta City who had 'invested' in Nanded City at Rs. 2,750/- per sq.ft., which was the special offer only for them?' Dilemma!

Kumar Properties' Park Infinia is located at Fursungi in Hadapsar, close to Magarpatta City! From investment point of view for the residents and for those who work in Magarpatta City, someone may think, Park Infinia would be a lot better opportunity than Nanded City on Sinhagad road. What should i say if somebody asks my opinion?

Pune real estate dilemma:

Mostly, you call me, on my mobile +91 98600 44110, because you are in dilemma. I know, you are using me as sounding board. Because you have to find out your own solutions to your dilemma. Not only to your moral dilemma, but solution to your Pune real estate dilemma is also very personal. Still, it is good to talk to someone. Someone like me! Besides i am 'in the know' (about Pune real estate market), i enjoy talking to you is my big qualification. Have a look at few dilemmas we discussed on my blogs -

1) Should i cancel the booking in Wakad / Balewadi / Baner and book in Kumar Properties' Megapolis?

2) Gated community or Pune City

3) Technopolis, Baner road or Beverly Hills at Pancard Club

4) Gera's Regent Park vs. Supreme Pallacio at Pancard Club, Baner

5) Kumar Properties' Megapolis or Blueridge' 2nd phase - in the comments.

Renting or buying. Pune or suburbs of Mumbai. Kharadi or Hinjewadi. There are lots of dilemmas. No problem. Let us keep talking. Commenting. Discussing Pune real estate market news. Sharing our views. Subscribing to this blog. Forwarding this blog to your friends. Let us make most of this Pune real estate slowdown! Enough of this Pune real estate dilemma. Let us enjoy 'Nelly and Kelly Rowland's Romantic dilemma. Watch world famous video on YouTube:



Posted by Ravi Karandeekar at Monday, June 09, 2008 0 comments
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The villagers of Nanded on the outskirts of Pune can’t wait for the new township to change their lives

SAVITA Kshirsagar teaches at the only primary school in Nanded village. Her husband Dileep teaches older students at the nearby school in Dhayari Phata, 2 km away from Nanded village. The Kshirsagars did not have any land to contribute to the new Nanded City, a joint venture between farmers and a city builder, but they know the future, at least for their two children, is here, on the outskirts of Pune.
IndianExpress

Posted by Ravi Karandeekar at Monday, June 09, 2008 0 comments
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Sunday, June 8, 2008

Temple of Environment in Amanora Park Town, Pune


On the World Environment Day, June 5Th 2008, Bollywood actress Vidya Balan inaugurated "Temple of Environment." The first of its kind in the world, the temple is located in Amanora Park Town, on Hadapsar Kharadi Bypass in Pune, India. A tree encased in glass is made of 3.5 kg. gold. To see the slide show of the event visit the website of Amanora Park Town.

read more | digg story

Related Story:

The temple would be unveiled on the Environment Day (June 5). It is an 18 feet tall Prism made from granite and glass.

The prism is mounted in a specially created water-body.

A Golden Tree weighing 50 kg and 4.5 feet high, symbolising the environment would be installed at the Top End of the Prism, which is made of glass.

It is an open air temple and is situated in the 26-acre Central Green Garden in the township.

The Central Green is one of the largest private gardens in Maharashtra and the Golden Tree has been crafted by PNG, a well-known city jewellery house.
Hindu Business Line

Posted by Ravi Karandeekar at Sunday, June 08, 2008 4 comments
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