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Wednesday, August 5, 2009

Exclusive 2 and 3 bhk flats in Mayur Colony, Karve Road, Kothrud, Pune

Chintamani Construction's Triveni and Arundhati:

Are you eligible?

View Karve Road - Paud Road - Kothrud - Karve Nagar in a larger map

Come on! Let us be honest!! We all know that to buy a property in an exclusive neighborhood you need something more than money. Neighborhood may be Pali Hill in Mumbai or Mayur Colony in Kothrud, Pune.

No! I am not only talking about the religion of the property buyer. I believe, to live in an exclusive neighborhood, along with a big budget, you need a right frame of mind and proper set of values.

For example, if you are one of those highly paid IT professionals, Mayur Colony on Karve Road in Kothrud, Pune, compels you to take a close look at yourself, at your life. "Am i going to spend rest of my life in the transition camps in Wakad or Kharadi?," you ask yourself. After living on the fringe of life for years, it's not easy to settle down, and become a well off Punekar!

Redevelopment of a bungalow:

Mayur Colony on Karve Road is one of the old societies of bungalows in Kothrud. Chintamani Construction which specializes in developing exclusive residential projects in the prime neighborhoods of Pune, is developing two projects, Triveni and Arundhati, in Mayur Colony.

In these type of residential projects, since the plot sizes are small, roughly around 5,000 sq.ft., and original bungalow owners always insist on certain clauses, it is always a challenge for the builder to fulfill the expectations about space and layout of an apartment of the new property buyers.

When i visited the under construction sites of Triveni and Arundhati, i was a little skeptical. I haven't seen any project developed by Chintamani Constrcution. I firmly believe that my ex-clients, Darode Jog and Bhansali Associates have mastered the art of redeveloping the bungalows in this part of Pune and no builder can reach their level of perfection!

I admire the planning and detailing of Darode-Jog which they continue to offer in their mass housing projects like Crossover-County and Greenland-County. I enjoy visiting Bhansali Associates' projects again and again just to look at their aesthetic elevations. For example, Bhansali Associate's Ruturang on Karve Road behind Suresh Kalmadi's bungalow. This building looks like a woman just coming out of bath. Glowing in her natural beauty without any make up, jewelery and clothes.

2 and 3 bhk flats in Arundhati and Triveni:

When i visited Arundhati, preparation was going on to cast the slab of the third floor. I accepted the invitation and climbed the temporary ladder to reach the slab. Referring to the working drawings, the site engineer tried to explain to me the planning of 2 and 3 bhk flats and terraces on all five floors.

The site engineer was trying to tell me that all flats and open terraces are planned in such a way that I will have enough privacy inside my apartment and at the same time, i can enjoy the surrounding greenery. When he realized that i was not at all impressed, he told me to visit Triveni, his second site nearby.

Yes, Triveni was almost constructed and plastering was going on. So, i could go in each flat and understand how Chintamani Construction offers "privacy" inside the flat and lets you enjoy the greenery and the view. The electrical contractor in the building not only insisted that i should visit the fifth floor but personally gave me the guided tour to see the amazing view of Chandani Chowk on one side and Law College Hill on the other!

Property rates and budgets:

When i called Jayant Pande, who looks after the sales at Chintamani Construction, i didn't ask him the property rates. Because, all of us know that in this part of Kothrud property rate is around 6,000 per sq.ft. I told Pande that i have visited his sites and asked for the budgets.

However, before telling me that the budget for 2 bhk flat is 70 lakhs and for 3 bhk flat 90 lakhs, in a very friendly manner, Mr. Jayant Pande started asking me about myself. I realized that the probing questions were to check my eligibility. I was going to tell him that i am Emraan Hashmi but no, i told him that my name is Ravi Karandeekar!

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  1. Pali Hill, Mumbai or Mayur Colony, Pune.... ha ha ha.. I was laughing like mad..
    Mr. Karandeekar, have u ever visited Pali Hill? Do you know who all stay there?
    Looks like bollywood celebrities and CEOs of big companies have started living in Mayur Colony.
    Oh yes.. Ex-VP Marketing, Goyal Ganga developers stays around that area!

  2. # Ref: " bollywood celebrities and CEOs of big companies "

    Who is talking about Bollywood celebrities and CEO of big companies?

  3. Wednesday, August 05, 2009
    Its Official: Property rates in Pune have started to fall
    National Housing Bank is the Apex Institution for Housing Finance in India. It is wholly owned by the Reserve Bank of India.
    It maintains an index of real estate prices from all over the country.

    Look at the data and charts for Pune: property rates have started to fall!


    You can check the trends in 15 cities across India.

    This is as official as it can get!

    This just confirms our observations and conclusions that the real estate bubble in India is going to burst.


  4. So truth is out now. Developers in Kothrud are hardest hit dues to slowdown and hence an attempt to glorify kothrud and compare upcoming suburbs like Wakad to transition camps.

    Ravi, you did a poor job at it.

    #Neighborhood may be Pali Hill in Mumbai or Mayur Colony
    : HA

    #highly paid IT professionals
    : HA again. There are none. There were, but all of them have booked monstorus priced appts already and are indebted heavily.

    #well off Punekar:
    How can ppl living in suffocating kothrud be well off if most of them have overleveraged finances. Add to it, crowd everywhere, traffic chaos everywhere, narrow lanes, costly, polluted, congested. No peace of mind. If we ever travel thru that area, my family wife takes a sigh of relief when we pass out of it and stop complaining dirt, pollution and traffic chaos.
    Oh add to it, tendency of kothrud folks like you to do "Swatahachich Timki Wajavane' about that area. I lived there for 5 years and left to have peaceful ambience overall.

    #all of us know that in this part of Kothrud property rate is around 6,000 per sq.ft
    : Ahem, thats sellers dream. Btw Buyers offer are at best 2000 per sq ft. And What buyer pays decides market value in the end. Btw, even on paper, dream prices for most projects have come down to 3500-4500 and much lesser when negotiation happens. And, my dear, they are still declining.

    #2 bhk flat is 70 lakhs and for 3 bhk flat 90 lakh
    : Aliens. Yes, only they can pay this idiotic amount. Right price? At best 20-25 lakhs.

  5. # Ref: "Oh add to it, tendency of kothrud folks like you to do "Swatahachich Timki Wajavane' about that area. I lived there for 5 years and left to have peaceful ambience overall."

    God bless you! Have a meaningful, peaceful and happy life!!

  6. # Ref: "Its Official: Property rates in Pune have started to fall"

    Thanks for the comment!

  7. at times, i do not understand if the blogger is serious or sarcastic. if he is serious and thinks highly paid IT professionals leaving in the transit camps such as wakad should think about buying in kothrud, then he contradicts himself. he once said that IT has lost its sheen and IT folks are no more glamour boys. well, let bank managers and school teachers and govt officers and accountants buy flats here.

  8. # Ref: " IT has lost its sheen and IT folks are no more glamour boys. well, let bank managers and school teachers and govt officers and accountants buy flats here."

    Vinod, sorry! I don't mean to be rude to my clients.

    Last time, i was talking about selling real estate to "new market" of property buyers who were thrown out of the market in the last real estate boom.

    Now, we are not talking about the salary. We are talking about life, living in a small urban culture. Becoming a part of the local community or living as an outsider.

    I am sure, you know well the difference between the a paying guest and the member of family!

  9. Ha HA Ha!!!
    Mr. Karnadeekar, i must commend you for presenting the TRUE punekar spirit here -- that of a 'KUpaManduk'..only true puneites can think that life begins and ends in Kothrud. WHo cares about a global world?? Indeed, have we truly progrssed if the mark of success as given by you is to OWN PROPERTY IN KOTHRUD??

    Each person is of course entitled to their opinion, and rest assured, there are several hard core 'shikran poli' puneites who think like you. I am of course referring to the age old mannerisms of a puneri brahmin..no offense to anyone.

    I have personally had the experience of living in stand alone buildings and it is not without practical difficulties - like day to day maintenance etc. when you are dealing with only 8-10 apartments -- actually a few will belong to the land owner, and a few to the builder, leaving hardly any for 'open' buyers, cost of upkeep runs high and puneites are notorious about tight purse strings. It is a mammoth task to keep everything functioning such as the lifts, security etc.

    You also lose out on gardens, club houses etc. or any group amenities.

    Having said that, I fully recommend CHintamani Construction and Manish Sabade. Quality and attention to detail is flawless and you will get your money's worth for sure..
    i.e of you want to invest 1 crore in an aprtment in KOTHRUD!!