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Saturday, April 25, 2009

Akruti Countrywoods, on Katraj Kondhwa link road, offers property rate of Rs. 2,250 per sq.ft. for the first 50 bookings of 1 and 2 bhk terrace flats

1 bhk terrace flat - Rs. 12.60 lakhs

2 bhk terrace flat - Rs. 16.65 lakhs

View Affordable Housing Projects in Pune Real Estate Market in a larger map

Just Perfect Homes Now in Pune!

The launch ad of Akruti Countrywoods, on Katraj Kondhwa link road, claims that their range of "Just Perfect Homes" got tremendous response in Mumabi.

Good. Congratulations.

But why Akruti City Limited (BOM:532799), promoters of Akruti Countrywoods, assumes that it will get the same response in Pune real estate market?

Look what has happened to Runwal Group, other successful builder from Mumbai. Did their Euphoria at Kondhwa Budruk got the same response as their Thane project?

Taking a challenge of successfully launching a project in Pune real estate market is good.

But not when the promoters of the listed real estate company are forced to pledge more and more shares.

Not when the listed real estate company is excluded from the futures and options (F&O) segment.

Not when, CRISIL, India's leading ratings, research, risk and policy advisory company, says:
"Akruti’s aggressive development strategy is reflected in the fact that ongoing and planned projects are six times the size of its completed projects.

The company has been facing extended delays in ongoing projects.

The company’s liquidity has been adversely impacted by the overall slowdown in the sector, coupled with its aggressive development strategy and increased focus on commercial projects."

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  1. Hi Ravi , Do you know reasons why Euphoria at Kondhava Budruk is not getting response ? I was thinking about it as Runwall is reputed for construction quality. Also what is ur opinion about Runwall Seagull ? Is it right time to buy in Hadapasr at 2500 Rs. / sq.ft. ?

  2. # Ref: "why Euphoria at Kondhava Budruk is not getting response?"

    1) Remote location.

    2) Property buyers have stopped booking if there is no work. Only concept is not enough.

    3) Property rate Rs. 2,651 per sq.ft.

    4) 1 bhk for 18,31,608
    1.5 bhk for 21,57,825
    2 bhk 24,75,876
    are very attractive in Thane - Mumbai. Not in Pune.

    5) Pune property buyers don't trust out of town builders. In fact, every town prefers to deal with the local builder.

    6) Small flat is not a property buyer's demand.

    1. Hello Ravi, i have booked a flat at Euphoria in June 2009 for which i was informed the posession will be around april 2011. however, the builder has been delaying the posession since then. there is no proper response from the sale team. i booked one more flat there in phase 3 for which the builder is saying the posession will be in Dec 2014. whenever i visit the site i can see work in progress, there are workers / machinery and movement is there.

      in the same time in June 2009 my cousin booked his flat at H&M royal adjoining to euphoria and he has taken the posession 4-5 months back.

      is there any serious problem with Euphoria.



  3. # Ref: "what is ur opinion about Runwall Seagull ? Is it right time to buy in Hadapasr at 2500 Rs. / sq.ft.?"

    - Runwal Housing is my close friend and a client.

    Their planning and construction quality is always good. Plus you will find sophistication in the presentation and system in execution. Plus the project has foreign funding.

    Hadapsar is full of contradictions. It's difficult to say that any rate is OK. So we have to go by the project. For example, for Runwal Seagull Rs. 2,500 is OK.

    Rationally, one should go for Kalpataru Serenity. Rs.1,900 per sq.ft.! Manjari! Tough decision. Right?

  4. Dear Ravi
    I visited Akruticountrywoods site yesterday.I am planning to book two bhk apartment. Rate offered is Rs 2450 psf. Agreement to sale will be signed after 35% payment( 15% booking + 20% plinth )
    What do you think. Is rate reasonable ? Will they complete project in time ? Why they are not signing agreement immediately ?


    Hemant Gokhale

  5. Hi Ravi,

    I want to buy a house near aundh proximity of 3-5 Km. Could you please let me know any good projects I am looking for 2 bhk budget 40L appx

  6. Investors Beware this builder works on the principle of Simon Says
    Can you believe that the builder Runwal is asking for Rs. 300/sqft Transfer fee payable in CASH ONLY for selling any of the flats booked with them. This is a record high for Pune. First time in Pune does a builder ask for Rs300/sqft as transfer fee to be paid in CASH only that too for a BUDGET project. How do they expect the common man who is going in for a loan to come up with that much money in BLACK/CASH.
    Whats more they say the transfer fee will go up as the property appreciates! Wow where will they stop @ Rs 800/sqft transfer fee.......lmao

  7. What price i should look for to book 2bhk flat in Euphoria,Kondhwa or any properties near by?

  8. Dear Ravi,
    your comments on Euphoria. why is the project delayed? in June 2009 i booked a flat there in phase 1 with a posession date of April 2011. and yet there is no sign of posession. the rate then was 2700 and H&M royal also offered the same rate. today H&m royal has delivered their phase 1 (4-5 months back) and current rate is 4200/- however Euphoria is asking 3800/-

    is there a serious problem with euphoria ?

  9. Hi,
    I booked my flat on sept 2009 at runwal's garden city-Phase 2 Bldg name Jasmine, balkum, thane and the possession date in agreement is dec 2011, but till no possession.
    I spoke with Sales Manager Lenna Lobo and site Supervises Manish Shetty. They talking like shit. Even they are not coordinating with each other, they both have difference in their commitment, Now i dont have trust on them. Just praying the god that i will get my dream home.
    Plz look in to the issue.