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Sunday, August 3, 2008

Now, Topaz Park, Park Street phase 3, at Wakad offers discount of Rs. 300 per sq.ft. against 'advance' disbursement of loan or 100 % down payment!

Property rate at Wakad: Rs.2,900 per sq.ft.:

Vilas Javdekar and Associates was the first builder who brought down the rate or "cut the rate" from Rs.3,200 to Rs.2,900 per sq.ft. in Wakad, Aundh annex.

Yes, Wakad!.....the popular residential neighborhood of IT professionals working in Hinjewadi and...... the preferred real estate investment destination of property buyers from Mumbai.....the one and only location where Sanjay Dutt (Not Munnabhai....Joint MD of Cushman & Wakefield!) "observed" property prices appreciating when rates were stagnant and Pune real estate market had actually slowed down.

Now, Topaz Park, (Park Street phase 3...!...?) by M/s Pride Purple Sheth (?) is ready to charge Rs.2,900 if you give an advance disbursement of loan or if you make 100 % down payment.

Pride Purple on Chicken Soup:

You may remember, Satish Magar has advised Pune real estate developers to make a 2 bhk flat of 850 sq.ft. so that at a current property rate of Rs.3,000 per sq.ft. and at the prevailing home loan interest rate it will fit in property buyers' budget.

But what to do if you have already launched the scheme in which size of a 2 bhk flat is 1030 sq.ft. and the construction has also started? Pride Purple knows what to do. Charge less than Rs. 3,000 per sq.ft.!

On April 27, 2008, when Topaz Park was launched real estate rate for the garden facing flat was Rs.3,400 and for "Non Garden" flat rate was Rs.3,200 per sq.ft. For "Advance Payment" there was a discount of Rs.100 per sq.ft. Now, for the same "Non Garden" flat instead of Rs.100 you are getting a discount of Rs.300 per sq.ft. and effective rate is coming down to Rs.2,900 per sq.ft.

Which will you book? A 2 bhk flat of 29.90 lakh or a 2 bhk flat of 31 lakh?:

Because of this discount offered by Topaz Park, i am sure, you are going to ask me to compare two projects in Wakad. Topaz Park and Mont Vert Seville. Right? Sorry! I can not. Because, i will be always bias to Topaz Park.

I was working as an 'on site salesman' in their first and best project, Five Gardens at Rahatani. Rajesh Narang, Director of Marketing, Pride Purple Group is my best friend and a "Guru", i have learned a lot about "real estate salesmanship" from him! Directors of Pride Purple Group, Arvind Jain and Shravan Agarwal, were my favorite clients when i was in the real estate advertising and personally as well as professionally, i admire both of them.

Actually, you do not have to ask me at all! Because, you can talk to their customers! You can visit any project, Five Gardens - Rhythm - Park Street phase 1 and 2, of Pride Purple Group, all are close by!

Do not miss an opportunity - Subscribe to my blog:

After the launch of Paranjape Schemes' Blue Ridge, Hinjewadi, on October 27, 2007, builders in Pune realized that property buyers can pay even Rs.3,200 per sq.ft. Immediately, property rates which were in the range of Rs. 2,400 to 2,600 went up and got stabilized around Rs.3,200 per sq.ft.

After the historic declaration about the rise in construction cost and the unanimous decision to increase the property rates by Promoters and Builders Association (PBAP), you know, DS Kulkarni Developers were the first builder to come out with an offer, a special scheme to book a flat in old rate!

In the last couple of months, i have blogged the exclusive offers and special schemes offered by Mont Vert, Kumar Builders, Samrajya - Balwantpuram, Palash 2, Nanded City Pune, Park Infinia and now Topaz Park. But this is just the tip of an iceberg. I come to know about the discounts, bargaining and negotiations but i can not blog about it because it is not on paper, not official. But, you can write about the discounts and offers you receive in the comments and help all of us to get best rate.

All of us means, around 200 subscribers of this, Ravi Karandeekar's Pune Real Estate Market News Blog, Ravi Karnadeekar's Pune Real Estate Blog Group's 172 members and around 500 daily readers of this blog. I am sure, subscribers are going to increase because nobody wants to miss a single offer and we know lots of offers are coming. Because Lalit Kumar Jain has recently said, "how long people can postpone to buy a flat?" Means, we all are coming with "special offers" and "discount schemes" to tempt you to book! So be subscribed!

Contact Topaz Park:

To know more about the offer, please, contact:
Park Street :
Sr. No. 210,
Aundh Chest Hospital Road,
Wakad, Pune – 57.
Tel. 020 27276666 / (Mob) 9850180000
Email ID : sales@pridepurplegroup.com
Website: www.parkstreetpune.com
Sapana - 91 98903 44323,
Sunil - 91 98903 93838,
Girish - 91 98604 02014,
Sanjay - 91 94230 10974.


  1. Sorry to disappoint, Ravi. But I am a resident of 5G and do NOT have good things to say about Pride/Purple or your gurus there!

  2. Straight slap on the face in previous post, what to say???
    We have to accept the reality.
    Bye the way, Satish Magar is a representative of politicians in the real estate market, so no need to add anything further.
    I will definately not let go my money in those hands, for sure.
    There are horrible scary stories about Magarpatta city, I red in another forum. People must know what this builder is.

  3. Never buy anything by ADF (Advance Disbursement Facility ) . The builder has got all the money and can easily exploit you . He may delay the possession by 1 year and you cannot do anything since it is fully paid up .
    Also you dont know what the quality of the construction would be and since it is ADF your full EMI starts from day 1.

    Ravi please publish this in your main page section rather than the comments so then the people are aware of this and they don't get fooled.People may not read all the comment but they do read your blg . So put it in the main blog page.

  4. Due to advance disbursement u will loose atleast 1-2 lakhs as interest...if the possesion is after 1 year...
    and more if possesion delayed beyond that
    Suppose u take loan of 25 lakhs.....in Suppoese possesion is after 15 months...
    In partial disbursement u have to pay 5 lakhs after every 3 months
    SO in first 6 months u pay 10 lakhs....
    Interest will be less than 50000 in those 6 months...

    But if u pay full...interest will be 1.25lakhs in first 6 months....

    So in 6 months u have to pay 75000 + rs more as a interest......

    SO I don't think that this is an discount or good deal to any customer

  5. 5 Gardens is probably Pride Purple's worst project and they would in most certainty want to forget about the experience. It has so many complaints w.r.t construction quality and this is a well known fact. Get me a single resident of 5G who can say that this is a good project. But yes, their marketing agents are top class :) they manage to sell even when people are aware of the issues with this builder.

  6. @Bambaiya: their marketing agents are top class :) some of them feel sorry too!

  7. Don't go for ADF. It's completely useless as you amy not be having any control on the Builder and if you have observed in any property, the after sales service is worst in most of the cases. So better avoid ADF. With bank Interest rate point of view, it's already high and next 2 years is global slow down. So better to enjoy life without any liabilities instead of paying higher cost to both builder as well as bank.

    Daund is good place to live but at the same time if you are willing to travel 40 Kms or 1 hour. It's more alike Mumbai's daily life where a person spend 3.5 hours dai;y for travel only. I feel life sucks if someone stay far away from office location and thinks he got the house at lowere price.

  8. Dear Ravi,
    It makes sense to pay ADF only on the following occasions:-

    1.) You are not or very less dependent on bank loans.
    2.) You either know the builder or the financier to the builder well so that if anything goes wrong with the project, you have guarantee of your money.
    3.) The discount offered should be atleast 15% especially if possession time is more than an year.
    However, this amount or %age is not valid today as one can see no growth in Pune realty for short to medium term taking into account the micro & macro economic factors. When prices correct in next few months, the reduction would be much more than what builders are currently offering as discounts on ADF.

    Conclusion:- Whether you know the builder or not, no point in making ADF currently as strong price correction in realty space is taking place & will hit Pune realty soon.

  9. Five Gardens is Pride Purple's best project??Are you freaking kidding me??Show me one Five Garden resident who is satisfied with the quality of the house he/she is living in, and I will show you a liar.I own a house in Five Gardens, and there is water moisture in the walls of three of the 4 bedrooms and in the living room.The internal roads are cracked and "security" consists of a 60 year old man in an incomplete guardhouse.I am sorry to say this but your friends are a bunch of thieves.

  10. I booked flat in park street in oct 2006 in saphire park
    as of today I still do not have posession

    can you belive that?
    do you have any idea how much intest I have paid in this time frame?

    stay away from park street

  11. Ravi, Looks like you are still marketting for Pride purple on this blog ;)..are you?
    To build a market reputation the builder has to stick to his promises, which I think they failed to deliver.. Sapphire park could have been an excellant showcase, if completed on time..but your friends are getting money from one project and investing it in a new project.. I have lot of clients who are now furious because of sapphire park delays (1-2 years now and no possesions, thats too bad)..and those poor buyers wont even get the internal amenities :), they are definitely not recommending any of pride-purple projects to their family, friends & strangers.. I think your friends are too busy in making huge money and they dont damn care about their goodwill and image :)

  12. # Ref: "Ravi, Looks like you are still marketting for Pride purple on this blog ;)..are you? "

    - Thanks for the comment. I am overwhelmed with your love, affection and admiration.

  13. Ravi Karandikar - I think somebody paid you to start this blog as a social engineeting tool for them. The reasons for my belief are:
    1. you are certifying the most horrible projects like 5G as "the best"
    2. you are saying that Rs 2900 with 100% down payment is a great deal instead of Rs 3200, when you know that the possessions of the prior bookings have been delayed by 1, 2 or even 3 years.
    3. you are avoiding comparing Pride Purple projects with others citing your affiliation with them.

    Any objective blogger would alert its users to the shady side of any builder/project. This makes me believe that you are still on their payrolls to do blog marketing.

    Looking at other skeptical posts I am sure the people on this blog are smarter.

  14. Ravi,

    can you please answer to the comments of the people who wrote over there ASAP.

    I am represening NRI community in UK and we want to do the investment in park street.

  15. # Ref: " Looking at other skeptical posts I am sure the people on this blog are smarter"

    Yes, you are absolutely right!

    All my readers are smart and truthful.

    They know that blogging is a two way communication. Blogger doesn't have to say all. Some important information about the builder and the project, coming from the actual property buyer has more value than the sales talk.

    Smart blogger creates an opportunity for the actual property buyer to share his experience by starting the conversation.

    To open the topic is not promoting the project.

    You pay your maid for cleaning, not for bringing out the dust you have hidden under the carpet. Right? I hope you can understand what i mean.

  16. # Ref: "can you please answer to the comments of the people who wrote over there ASAP."

    Comments are moderated on this blog. When i publish the comment, it means that it has some valuable information. Whether i agree or not, it presents important point of view which demands serious consideration.

  17. # Ref: "we want to do the investment in park street."

    Good! Please, read what i have already said in my post:

    "Actually, you do not have to ask me at all! Because, you can talk to their customers! You can visit any project, Five Gardens - Rhythm - Park Street phase 1 and 2, of Pride Purple Group, all are close by!"

  18. This builder believes in exploiting customer's money in different project except for the project from where he got that money.
    Don't go for any project from this builder.
    You will regret for sure

  19. I had a very bad experience with Park street and I dont want any one else face the same.
    Park street is charging huge interest charges(Late fee)by showing wrong staus of construction. Few bankers are not agreeing on percentage completion of Park street.Hence Bankers are not ready to pay the amount quoted by park street.But Park street is charging interest charges from buyers.Please let us know if any one knows how to challenge this type of issues.
    Example:Park street send me demand letter for 92% amount in Jul2009.But my banker paid only 40% as per their validation.Now park street is calculating interest for remaining amount from Jul 2009.
    But the actual progress of construction is not 92% even after 8 months.

  20. so how much is per square feet price now in 2010?

  21. I am also keenly interested in knowing the current booking rate at Park Street in Phase 3 & 4 (if any).

  22. Hi Ravi,

    Can you suggest what is the current psqft rate for Topaz Park.

    Will appreciate some details about the current status


  23. I also don't want any body to get in trap with Pride purple group. Everything is wrong. I bought a ready flat with full price and I don't even get parking space after getting possession. Staff is horrible. It is only good till you finalize the deal, once money is on the other side everything changes. They asked me to come to get parking and when we go they say they don't have it. They will work on it. Apparently given to somebody else.
    The possession department lady "Kanchan" is one useless lady. Actually all are not very courteous.
    The next day you enter your brand new apartment, it is seeping and flat below is also seeping. So, you not only fixing your top but, also removing tiles and fixing them again.

  24. currently what is the per sq feet rate at park street. Please advise.

  25. This comment has been removed by the author.