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Tuesday, March 31, 2009

Insignia - housing group formed by IT professionals working in Hinjewadi, Pune, finalizes their first scheme of 2 and 3 bhk flats and Town Houses

Unbelievable property rate and location!

Rs. 2,250 per sq.ft. for flats

Rs. 2,350 per sq.ft. for Town Houses

Near Pashankar Auto, Baner

From the day i blogged the small ad about "Housing group of 100 IT professionals in Infosys is looking for a reputed developer!", i was dying to blog this "breaking news"!

At last, today, Nitin Degaonkar, send me an email and gave this "hot news" about finalization of their project of 2 and 3 bhk flats and 3 and 4 bhk Town Houses at Baner - Sus border, near Pashankar Auto.

Can my readers get a flat at Rs. 2,250 per sq.ft.?

"All Members of the Insignia Group, Congrats! Well done!!," though i was talking to Nitin, i addressed to all members because, i know, he always insists on giving credit to "Insignia Group" and asked, "Are you taking new members? Can my readers get a flat in this project?"

"We have already started the process of allotment! And there is an eligibility criteria to become a member. So it would be better if they first join the Insignia Group," Nitin Degaonkar said.

To join, please, visit Yahoo! Groups - insignia_pune :Insignia

Have we found the bottom of real estate prices?

We all were waiting for Pune property rates to reach to the bottom.

Now, Insignia Group has finalized their rate at Rs. 2,250 per sq.ft.

At Narhe - Ambegaon, off Sinhgad Road, "Darode-Jog" is launching "greenlandcounty" at Rs. 2,350 per sq.ft.

At Pimple Gurav, property rates of Kalpataru Estate are in the range of Rs. 2,200 to 2,300 per sq.ft.

Amit's Astonia was launched at Rs. 2,300 per sq.ft. at Balewadi.

Yesterday, Ashish Yadav's group has come up with the offer of Rs. 2,525 per sq.ft. for Baner Balewadi.

I think, we have found out the "bottom rate" of the property in Pune real estate market! What do you think? Please, share your views in the comments. (Comments Policy),

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  1. Are these ready possession? Any thing under construction is risky does not matter who the builder is. Water is a big issue near Pashankar auto.
    Hope with these deep discount you are not getting compromised on the quality of buildings.

    Just some negatives I can think of to help you look into the deal with details.

  2. Regency Group in Dhanori & Kalpataru in Manjri both MUMBAI Developers have launched project in Pune @ Rs.1950 /sqft.
    Excellent amenities & very good internal specifications.

    I think the Mumbai developers know the Pune market better.
    Rs.1950 that's the bottom line!!!!

    Rate of 2250 should be in developed areas like Baner, Aundh, Wanowari, Viman nagar etc.

  3. Baner-Balewadi is not really a developed area. It resembles a village and not class.
    So, the rate quoted here (Rs. 2500 PSqFt) is still at higher end.
    In 2004-5, I booked a flat in a scheme at Balewadi at Rs. 1350/- per sq ft.
    The rates cannot be more than 2000/- per sq. ft. as of today.

  4. Good News, in terms of rates. But what about possession? The "Breaking News"says, "finalizes..".
    This means at least 3 years for Possesion, if all things move smootly.
    Also, in projects where a builder is making project, quality is not a problem as the builder is sellign to other customers as well. In projects like these, where only one group is present, no one can gaurantee quality.
    I am sure its adventurous but NOT sure how practical!! :-(

  5. The rates that you have qouted are all for areas which are way underveloped... And being so you can say that the rates are not at their bottom yet...

    Can someone please give me the current rates for Darode-Jog's Cross over county?

  6. this group is in market for last 5 months. I am not sure how genuine they are and how they will help regular non IT buyer like me?

  7. Dear Ravi, rates offered by Kalpataru Estates seems to be interesting but I am wondering if can we negitiate it further? Can we get it @ 2000/- sq feet? The area is not even Wakad it is Pimple Gurav.One thing I would like to mention is that they are asking 70% upfront payment can you see a risk there? Moreover, there was a news that kalpataru is running into financial trouble is it correct? Please advise.

  8. Hi Ravi..

    We are waiting for your comment on Kalpataru and Pimplae Gurav area...


  9. # Ref: " I am wondering if can we negitiate it further? Can we get it @ 2000/- sq feet? The area is not even Wakad it is Pimple Gurav."

    - 1) Never take no for negotiations from anyone. Try your best.

    - 2) Read this: http://ravikarandeekarsblog.blogspot.com/2009/05/brts-routes-nashik-phata-to-wakad-and.html

    # Ref: " they are asking 70% upfront payment "

    70% is as per the progress of the construction. Confirm it with the bank.

    # Ref:"there was a news that kalpataru is running into financial trouble is it correct?"
    - I haven't read this news.

  10. Hi Ravi,

    I was told by a friend, that the asking rate for bungalow plots in Manjri, Pune are at Rs. 2650/sq.ft. Isnt this too high? What should be the current rate for Manjri area?

  11. http://devoteinteriors.com/
    located next to st miras college !!!
    best one stop shop for your interior needs

  12. Hello Ravi,
    Can you provide any updates on the construction progress on the Insignia-Housing Group project? It would be intresting to know how the first time Co-operative Builders faired in terms of actually delivering the project.
    At one time the project had exicited me, but I did not actually join as I had thought the risk of project not matarilizing was considerable in the part time managed project.

  13. Do you have any 1bhk flat left? Please let me know how to proceed?