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Tuesday, July 29, 2008

Palash 2 at Wakad - only few flats are available for booking!

'No EMI till possession if you give Advance Loan disbursement' scheme gets great response!!

Almost all flats are booked in 2 days!

Vilas Javdekar and Associates opens few more flats for booking!

"The Green Umbrella Offer" of Vilas Javdekar and Associates scheme was going to close on 22nd of August '08. Under this scheme only 20 apartments were available for booking. These 20 flats were all high budget flats.

2 bhk flats (1293 - 1340 sq.ft. saleable area) including stamp duty and registration, was fitting in the budget of Rs. 45,04,560 to Rs. 48,69,750. Sizes of 3 bhk flats are 1633 - 1768 sq.ft.

On Sunday morning, July 27, '08, i posted the blog on "Green Umbrella Offer" but i did not go to Palash 2's site. I thought, considering the present trend, people will call but very few bookings will happen. So i do not have to visit the site today. And i went to Venezia at Baner. A project launched on that day by Kunal Sancheti Associates.

Today morning, i called my friend Madhav Gole at Palash 2. But he was not there. So i talked to Asmita. And i realized that i was wrong. I should have visited Palash 2 on Sunday itself. Because almost all flats were booked and they had to open few more flats!

Why Palash 2 got such a great response?

We all know, Mont Vert launched the compact 2 flats in 29 lakhs ( now Rs. 31 lakhs) on the same road in Seville, Wakad. My dear neighbor, Pethkar Projects launched compact 2 bhk flats of 961 and 974 size in the new wings of Samrajya - Balwantpuram. Mr. Satish Magar is advising all builders in Pune to make a 2 bhk flat of 850 sq.ft. so that at the current property rate and interest rate it will fit into the property buyer's budget.

When every one is saying, "there is no customer for high budget flat in Pune real estate market," how come high budget Palash 2 got so much booking? When i asked Asmita, she said:

1) Flats at Palash 2 are good.
2) Planning and concept of the project is good.
3) Vilas Javdekar and Associates is a good brand.
4) Property buyers thought, paying only rent for the next 14 months is better than paying both , Rent and Pre EMI
5) Disbursing loan in advance against saving Rs. 5,74,000 (Rs. 41,000 EMI x 14 months) was a win win proposition for the property buyer and builder.
6) People are still optimistic. After 15 months, when EMI starts, things would not be that bad.
7) Property buyer who has a 4 year kid will always look for a bigger home to settle down. 8) NRIs who are planning to shift after couple of years appreciate and afford Palash 2.

Is this a paid post?

I told Asmita, if i blog this not a single reader is going to believe. Whenever i blog something positive about Pune real estate market, generally comments are - i am blowing the bubble, Ravi, do not try to hype.

But this time, i am sure, not only property buyers but even the builders are going to ask me, "Ravi, is this a paid post?" Considering this i told Asmita that i am going to quote her and i am not going to moderate the comments. "Can i quote you? Can i say "Asmita gave me this information?" i asked her. She said "Yes! you can. I am Asmita Javdekar"


  1. Ravi, JAvadekar's are doing good marketing and trying to create good brand name. This just can not be true.

  2. Ravi, Your info and details put in the blog is very informative. It helps guys like me an opportunity to understand what is happening in the market. Keep up the good work.

    However I am sure the info given by sales team of Palash is too good to be correct.They have looted people's money. Enough is enogh...........Let them come out with new strategy which can be icecream and cherry on top of an umbrella. We will watch and enjoy their creativity. However can not be fooled anymore.

  3. Ravi, is Pune real estate booming??
    From a years horizon, how much one can expect in return if he invest today, at least 30%???
    I am hearing that prices are rising in Pune due to huge demand, is this true?
    I red that all big townships like Nanded City, Paranjpe BR, Megapolis etc. are over booked and people are in waiting list ready with full cash. Is this really true? Are we so rich these days???

  4. Pune real estate is not booming or crashing. Currently, it is just stagnant to slightly down. What course will it take in future is a subject of lot of heated debates.

    Ravi, As always you are providing great information. You seem to have the pulse of Pune realty. People like me can only go on and talk about the high level picture, but it is always more useful to get individual project updates you are providing.


  5. What i dont understand is, how will I save 5.74 lacs by starting to pay my EMIs after 14 months? Say if I take loan of X amount today with 15 year tenture, then how will I save Y amount if I start paying it after 14 months? The tenture will still be 15 years and the loan installment will also be same, right?

  6. What i dont understand is, how will I save 5.74 lacs by starting to pay my EMIs after 14 months? Builder, Vilas Javdekar & Associates is going to pay your emi till they give you possession. It's discount.

  7. Hi,

    I want to purchase flat at wakhad,so please let me know what is the minimum budget I should get it.