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Sunday, July 27, 2008

An exclusive offer from Palash-2, Wakad- No EMI till possession if you give Advance Loan disbursement to the builder (!)

Pay just 4.5 lacs for a 2 bhk flat (10%) / 6 lacs for a 3 bhk flat (10%) before registration of agreement + Advance Disbursement of the entire loan (90%) after registration of agreement = Savings: No EMI till possession of the flat!

An initiative to sell high budget flats in Pune real estate slow down(!?)

Vilas Javdekar and Associates have come up with 'The Green Umbrella Offer' for Palash 2.0 at Wakad.

Palash 2.0 has eco-friendly 2 and 3 bhk flats with terrace garden. Sizes of the flats are quite big. 2 bhk flats: 1293 - 1340 sq.ft. 3 bhk flats: 1633 - 1768 sq.ft.

Basic property rate of a 2 bhk flat is Rs. 3,200 per sq.ft. (Rs. 3,236 for 3 bhk!). Maximum real estate price goes up to, including floor rise, Rs. 3,450 per sq.ft.

Because of this, minimum budget of 2 bhk flat, including stamp duty and registration, is Rs. 45,04,560 and maximum Rs. 48,69,750.

As per the offer, at the time of booking you have to pay only 10% of this amount, Rs. 4,50,456 (for minimum budget 2 bhk flat) or Rs. 4,86,975 (for maximum budget 2 bhk flat).

You will get 90% loan and your EMI (Rs. 41,879 / 45,274) will start only after the possession.

The Green Umbrella Offer (terms and conditions) is valid from 22nd July to 22nd Aug 2008 and applicable on 20 apartments only (availability).

Pune real estate offer station:

I know, lots of offers are going to be introduced in Pune real estate market. I request you to subscribe to my Pune real estate market news blog to take a benefit of these offers.

If you are visiting for the first time, please, visit my Google group Ravi Karandeekar's Pune real estate blog to know more about my blogs. You can join me on Twitter. Feel free to call me on my mobile 91 98600 44110 to discuss or suggest new offers.

Is it wise to give ADF in the present economic conditions?

Pune real estate boom is over. This type of an offer is the proof of Pune real estate slow down. PBAP has officially confirmed about the rising construction and land costs. Inflation is in double digits and not likely come down in this financial year. Because of the recession in US, jobs are not secure. In these circumstances, Is it wise to give ADF, advance loan disbursement, to any builder? Please, share your views in the comments.

Contact Palash 2.0:

Madhav Gole : +91 98817 44949
Maithili Page : +91 99229 39551
Sanjay Lele : +91 99229 39552

Site office:
187 Green Drive, (near Hinjewadi IT park),
Wakad, Pune, INDIA
Tel: +91-20-6410-4101 OR +91-98817-44949
E-mail: mvgole@javdekars.com

Corporate Office :
306, Siddharth Towers, Sangam Press Road, Kothrud,
Pune 411 038 INDIA
Tel: +91-20-6620-8000
Email: info@javdekars.com

North America:
Mr. Anand Khare - Consulting GM – Marketing
Office: +1-630-806-1940
Time Zone: Central
E-mail: anand.khare@javdekars.com

Middle East and Gulf:
Mr. Sanjay Kushe – Consulting GM - Marketing
Abu Dhabi, U.A.E.
Tel: 00971 55 7303273
E-mail: sanjakushe@yahoo.co.in


  1. The occupancy date could be some where by December, as this is quite old scheme and must be in a completion stage. Can someone update what is the possession date, if correctly aware of???
    So investors are not actually getting any big/exclusive offer and benifit of saving on the EMI.
    The builder is quoting this offer on 20 apartments only, but the number actually will go much much beyond 20 as I can see increased number of cancellations and no new bookings these days.
    Investors needs to be really careful in investing against such offers. Not a exclusive offer at all...!!!

    Green Umbrella>>> We are losing the green and heading towards a drought. Do builders care about the environment? How many builders plant trees and really care for the environment.

  2. "An initiative to sell high budget flats in Pune real estate slow down and rising inflation:"

    Ravi, does this mean that there is a slow down in Pune real estate???
    The present rates don't indicate that, prices are still up and rising irrespective of number of incoming/new bookings.
    Probably then, Pune builders have caught habit of rising prices regularly, which is going on from last 5 years.
    I will not call this as "Pune real estate slow down", instead we should say that Pune real estate prices are doubling in today's market and there is a fierce competition among pune builders on who is most expensive, isn't this true???
    Good luck Pune builders and pune real estate, keep rising prices and live in your world, we will only watch you and have fun...!!!

  3. Hello Ravi

    Which bank id offering the loan with no EMI till possesion?
    or the builders is going to pay the EMI?
    Evenif ...no EMI is there...interest will get accumulated in yr loan account?
    SO if u take loan of 40 lakhs....
    and if possesion is in another 1 years....another 4 lakhs will be added to yr principle.....and EMI u will pay is for 44 lakhs....Isn't this true..

    Please correct me if I am wrong?

  4. or the builders is going to pay the EMI? Yes, you are right! Builder is going to pay the EMI till he gives you the possession of your flats. Consider it as a discount, offered to you by the builder, against 100% payment received in advance! Is this an attractive discount? One project charges Rs. 100 per sq.ft. less for ADF! However, is it safe to give ADF? What do you think?

  5. Ravi,
    We all know what is the answer to your question
    Plesae check this:


    As per the law of demand supply, prices keep on rising when the supply is low and vice versa. Builders kept on rising the rates till demand was rising and people were booking despite of hiking rates every month or sometimes every week.

    Today despite of stagnant rates , people are not buying homes. Though demand has lowered , builders have not lowered their rates. Its probably because they are able to hold on the rates universally in all over pune through PBAP.You are not seeing any fall in prices of homes because of unanimous authority of PBAP.

    The question which should have been asked in this case is "Do you really wanna see rates fall and buy home at affordable rates ?"

    If you are really not in hurry then wait for sometime. Noone can cling on to the dead investments for long enough.Real estate analays expects rates to fall by 15-20 % in next 15-18 months.
    for a 30 lacs home , 20% lower price accounts to around 6 lacs. Quite a good sum.
    Hold on guys. Stop getting bullied like morons.Dont buy on high.

  6. Hi Ravi

    This is Ravi from USA>.On first time if you look this offer..looks very attrative but they have many other hidden thing such as CAR PARKING,Mainete..fee and etc..
    Which can cover up there EMI part which they are planning to pay..

    Look like this builder is smart enough to play with INR amt..

    I do not see this as great offer..its very comman offer but with indian film style ...having different end..

  7. Dear Ravi,
    I think this is just a trick to misguide buyers. The fact remains that the buyers will have to pay the EMI's after taking the possession on the remaining sum. The buyers calculate the EMI's for their entire loan tenure & not just one year or till possession. It would have been much better if the builder would have given discounts equivalent to the EMI's on the base price. If even Rs.2 lacs are reduced from principal amount, buyer needs to pay almost 14-15 lacs less by the end of the loan tenure. But I know the builders won't do this currently as it would mean correction in prices which would give free hand to rest of the builder who face liquidity crunch to reduce prices. The PBAP must have opposed this. Also, if a person wants to purchase taking no loans or say loan amount of only 10-15% of total cost of the flat, what is the benefit to him/her in such case?
    Time has come for builders to think logically with open eyes & see what is happening in rest of the cities in India. Buyers in Pune won't fall to such tricks. They will buy only when the prices correct per square feet & the total cost of the flat which is favorable to those who won't take loans & to those who need to pay EMI's for 15-20 years too.


  8. Ravi what you think about buying property in Nagpur near Mihan project? What you think?