It's not secret that all builders are ready to negotiate the property rates.
It's not secret that many property buyers are ready to book if builders reduced the property prices.
But which builder reduces how much, for sure, is the big secret.
Pune real estate market is surviving on this secret.
Except one builder, Mont Vert Homes.
Mont Vert's published and well publicized open offers are making "secret negotiations" irrelevant.
"Enough is enough!," many builders complain secretly.
"Property buyers have started demanding 11 months rent, reduction in the parking charge, reduced infrastructure charges, along with the reduced property rates!," one Pune builder said. Secretly.
All Pune builders pray to God.
They request him to give instant wisdom to all property buyers in Hinjewadi.
Wisdom to book flats in Mont Vert Homes in Wakad, Sus Road and Baner Pashan link road.
So that Mont Vert will stop launching offers of price reduction every other week.
Publicly, builders say, "God bless Mont Vert and all it's property buyers!"
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Wow. You are really blind in love with Monte Vert. Please wake up and open your eyes and see the reality (pun intended). The rates at monte vert projects are 3266 /sq. ft at Biarritz with 33/sqft premium for floors 5,6,7,8 and premium of Rs.66/sqft for floors 9,10,11,12.
ReplyDeleteAdd 2,25,000/- for parking (they call it infrastructure charge)
Add 1,25,000/- for MSEB and legal.
Plus maintenance@1.35/sqft per month to be paid at time of possession.
So now you calculate the actual cost to you.
# Ref:"Wow. You are really blind in love with Monte Vert. Please wake up and open your eyes and see the reality (pun intended)."
ReplyDelete- You mean to say there is a lot of scope for price reduction at Mont Vert.
Means few more weekly offers of price reduction!
Few more front page ads.
Few more press notes.
Don't you enjoy this process of price reduction?
I find it amusing.
Mont Vert reduces the property price in style!
Justifying the current rate and not admiring price reduction, i believe, could be considered as a "blind love".
But here i am admiring frequent price reduction offers! Isn't it? You should be happy about it!
Is there something fishy about Mont Vert builders? Ravi I would like your comments on this builders.
ReplyDeleteRavi, you are being hypocrite.
ReplyDeleteYou admire builders too often and all their schemes and rates. A year ago you were saying buying property is always good..(look for long term perspective and all that shit...)
Now those who bought last year at high rates are crying...
What readers want is a genuine opinion of yours.. and not praises of builders.
Have you ever thought that all that marketing money builders are spending, finally has to be a burden on buyers ?
Next year is very tough for builders. Most of the It companies have shown negative growth in 3rd and 4th quarters. Also their yearly outlook in not so pisitive.
ReplyDeleteI know lof of IT guys including me who deferred the decision to buy property because of job insecurity. Builders at this stage should focus on survival instead of profits. Otherwise you may hear about builder suicides something like farmer suicides.
# Ref: "Ravi I would like your comments on this builders."
ReplyDeleteLooks like that you are visiting my blog for the first time. Thanks! Please, use custom search in the left column and visit my posts. You will get answer. However, thanks for asking. Hope to see you again. God bless you!
Ref: "Ravi, you are being hypocrite."
ReplyDelete- Thanks for expressing your honest opinion about me. Irrespective of whether i agree with it or not, i value my readers' opinion.
Ref: "I know lof of IT guys including me who deferred the decision to buy property because of job insecurity. "
ReplyDeleteI am sorry. Take care.
Hi Ravi nice blog. There one thing I dont understand is why folks cry when prop value of flat they bought last year drops this year? If it would have gone up they would have loved it. I missed an oppotunity in 2004 to buy a flat and since then prices went up and I have no one to blame but myself for not able to make decision to buy in 2004. i dont crib about it. Now i am waiting for prices to come down and when i feel it is right i will but it and if it falls further its my luck. If prices go up we all like it but if it goes down we blame the builder. Now this is being Hypocrite.
ReplyDeleteDo not get me wrong I have no soft corner for any builder but they responded to market conditions in 2000-2008 by making more money cose many IT guys bought it lioke there was no tomorrow. Now they have started reducing prices from 2008-? thats just the free market
I am now looking for bargain and see if it fits in my budget if so i will buy and live with that decision.
I know this comment of mine will attract lots of anger from many others but what is fair is fair.
This is not offical.
ReplyDeleteTechmahindra have introduced more variable component in salary.
So in sense salary is reduced because you never get full varaible pay unleass you are outstanding.
At least 60% of IT guys were overpaid. So big deal if you guys take a breather for a while. Show me one MSc or PhD making more money than a guy who did 1 year NIIT course after 12th or some crazy computer degree. You guys had it good so its fine if there is a fat reduction in employmnet.
ReplyDeletei hope this will put guys with regular old fashioned jobs back into home buying market.
Yes I am a Ph.D and have a decent regular job with a pharma company which pays good and worth what I am and I know i will still have my job while fat gets reduced from IT company.
To the PhD pharma employee,
ReplyDeleteyou sound jealous of IT folks. while java programmers made more than 90+K USD per year, you perhaps did not come close to that so your anger is justified. IT fat will get reduced but so will every other sector.
to all those who want to buy homes in pune, please wait. wait wait wait and bring down these arrogant builders to their knees. realistic rates for wakad should be around 2K, for baner around 2500 and for sus road abour 2200. don't pay up to 55 lakhs for a 3 BHK flat. don't end up paying thousands of rupees every month to the bank. you just cannot afford that life style for 20 years.
as for mont vert, these guys are greedy developers who are offering discounts after discounts (like ravi has pointed out). First it was 'rent today, be a bank's slave tomorrow' scheme. Now they are giving out freebies such as dagadusheth idol to you. They insult your smartness and think that you can easily be fooled with a ganesha idol. be smart and don't pay any attention to these folks.
wait wait wait. don't be a bank's slave for 20 years paying them 30/40K a month.
I really disliked Mont Vert's attitude towards customers, I went to their stall in the exhibition, the sales guy didnt have the courtesy to greet us and left his place leaving us there. None the less, i called him this weekend to enquire a 2bhk flat, he said i have only one left in top floor.
ReplyDeleteTo much of cheap gimmicks these poeple play,if u have one flat available ONLY why are you spending thousands and lacks on advertising budget,..its really funny...and then that sales guy took my number and said i will call you back.I dont understand why these people dnt deal straight with a customer.I dnt know about his quality of flat but one thing i know that they are real greedy and rude with their customer as compared to the other lot, who are no better.It really turns me off!
best things is to send 2-3 different folks and see if they say the same answer for availibility. or even better if they are willing to show you the availibility list thats better.
ReplyDeleteOne things as a customer you have to be smart but also clear on what you want and just tell the builder that you want eg 2BHK on a certain floor or you are not interested.
Also remember that if you are not happy with the sales guys helping you ask them that u will speak to marketing head or director. Upper management is more than willing to talk to potential customers now.
DO NOT BUY ANYTHING AT EXHIBITION UNLESS YOU HAVE SEEN THE PROPERTY.
I am hunting for the property and thats what I am doing now. I did speak to director at Mont Vert here from USA and got a decent response so no complaint on that front. It seems they have a lot more of 3BHK than 2 BHK at least at Wakad Tropez. He told me that between their 3 ongoing sites they have about 40+ flats available with most at Tropez ,wakad area.
One thing that popped up in my conversation with them was that when I offered them a rate of 2300/- he told me there is no point to carry on the conversation if I was looking for bargaining. I thought that was a bit harsh but then I guess thats their policy.
Overall I felt comfortable with talikng to owners directors of all builders i inquired with.
A few refused to talk but hey thats their loss.
Ravi i am considering 2.5 BHK at Tropez and I am asking them for a full cash discount instead of upgrade etc. I dont care about the freebees. they will give me additional 1.2 lacs for no upgrades. or approx 100/- disocunt on final price. Any thoughts?
# Ref: "Any thoughts?"
ReplyDelete- Personally, i like the planning of Tropez. It's typical Mont Vert flat. Class housing.
Asking for a cash discount is great.
It's open secret that Mont Vert is doing it's best to see that they will not have any inventory of unsold flats when the project is ready. This is good for the residents.
Now, i think, you should think about how you can take benefit of their marketing initiative, even after a booking. For example, ask for the referral scheme!
to Freenivas Reddy:
ReplyDeletewell most of us folks with normal jobs(including your and my parents) have to depend on bank loans for getting a home while we are still young. Unlike many of you with 90K USD who can wait for 3-4 years and save up enough to put 100% down and not worry about EMIs
No I am not jealous good for you with USD jobs but us unfortunate guys still earn in INR and have to take a call at right time.
ok secondly what are you complaining about if a builder offers discount after discount. Why does it make them greedy. As for me all discounts are welcome and yes ganesh idol is not a motivation for me but xtra work discount is cool with me.
Thanks Ravi for the input. Looks like they are ready to give me 1.23 lacs off for no upgrade. About referral they said no commitment on that but told me that referrals do not go "unnoticed" so can not count on that now.. but will be a bonus if it goes thru.
ReplyDeleteWife will have a final look one more time and then I am all set.
Thanks again.
# Ref: " but will be a bonus if it goes thru.
ReplyDeleteWife will have a final look one more time and then I am all set."
- Congrats! I am happy for you.
- I wish something like this:
a reader of my blog makes up his mind to book a flat in a project, he announces it on my blog, another reader joins him and together they get more discount!
- Not a wish, it's my goal! You know, it's very much possible. Because individually i talk to many people who are interested in booking a flat in the same project!
- At this point of time, i don't want to invade anybody's privacy. So, i don't store telephone number of the caller and respect anonymous comments.
- However, i cherish a goal of making my blog more useful to my readers.
- Hope this will happen when you will purchase your second property! Thanks!!
In Mont vert biarritz they are saying there arent any flats left. The answer is that after their rent today buy tommorow option lot of good responses has come and therefore all flats got booked.
ReplyDeleteWe havent visited the site yet though.
He is now saying that only phase 2 is open whose possession is in yr10..biarittz is just one building with 88 flats only...so it may be possible..anyone enquired with mont vert recently and got a similar answer?
Ok this is what they told me about 2 weeks back on Biarritz 1. There are still some flats available there but not on higher floor. Its between floor 1 and 2. Last I checked, they had 8 flats and also their sample unit was available. Just to share they had offered me a discount on sample furnished flats upto 10% on furniture cost. I am posting all this so anyone interested can drive a bargain with them accordingly.
ReplyDeleteI was helping my cousin abroad with Tropez, Grande and Biarritz. He is a pure invester and mostly go with Tropez.
Ravi I think you are right if few folks get together and drive a hard bargain they may be able to give good deal esp in wakad due to competition. These are tough times and best of the builders who never bargained in past will bend backwards.
Worst experience with Mont Vert. Mont Vert is a brand in real estate in Pune but they miscommunicate their customers about additional charges, improper communication regarding possession, delay in completing their project, not at all courteous, over commitment, mis-representing, misselling. You name it and they default in it.The Director agreed that they do have bad communication as he heard the same from other customers who complaint about their staff, but the staff(specially the Sales team) says they send mail to the customers. Whats the point if your don’t pick-up the phone and talk to the customers if they are annoyed. There is direct allegation on the customers saying their staff never miscommunicates. While you ask for the compensation for the delay in their construction, the response you get is: As far as the delay is concerned, it has happened due to some unforseen circumstances which were beyond our control, hence we regret to inform that we will not be able to pay any kind of compensation for the same. However when I met the Director who did share the challenges and did offer for the compensation but I then denied for it which I regret when there was some more issues. When you say you don’t get call from the seniors, the Sales team responds: With reference to your statement mentioned in the trailing email about not receiving any call from the seniors, we have been updating our esteemed customers through emails. During my initial visit I was never informed about the hidden charges, nor the plan of the building was shared. The podium is just opposite the terrace and one can view everything in the apartment. As a sales person things should be made clear and this was not clarified.(I did inform this to the Director). Though I was given discount I was also told that THERE WILL BE NO MAINTENANCE CHARGES. However while I have to take possession of the flat I am been asked for the maintenance charges and told that it was mentioned in the estimated sheet. However during the time of purchase I was told that the company will take care of it(by the sale steam) and I need not have to worry. Had these conversation been recorded I wouldn’t have faced the issue. Worst of all is that sales executive is no more working with the company. But the response that I get from the organization who are not based out at the location but in Head office is: Firstly I would like to clear this statement of yours that "there will be NO maintenance charges" has never been communicated by any of the Mont Vert staff as the same is always mentioned to the clients at the time explaining about the project as well at the time of booking(in the estimation sheet); also the same is mentioned in the agreement that it will be charged for a period of 10 years upto Dec 2023. It is not possible that you are not aware that the podium parking is in front of your apartment as at the time of booking, the sales associate explains the plans as well the project layout to the customers. It is a mandatory practice for the sales team to do the same. It is at a good distance from the front facing apartments.There is not any kind of miscommunication as the same was explained from day 1 and also mentioned in the agreement copy; though the employee is currently not a part of the organisation.They fail to understand that if customers are treated well they do give good feedback on social sites as below:Wonderful time with the Director who was humble and down to earth. He admitted de fact that if seniors fail to get into functions at ground level we become incompetent and to keep moving and excel customers expectations a random check is important. Also incompetency in communications to the customer hampers their brand image. We both exchanged knowledge and I hope things fall in place. But if they are not satisfied then they do raise their concern.
ReplyDeleteHey Chris, what project are you talking about? we are planning to consider Oystera by Mont Vert.
DeleteHey Chris, what project are you talking about? we are planning to consider Oystera by Mont Vert.
Delete