3 bhk flat of 1,400 sq.ft. for Rs. 35 lakhs (approx.) - most preferred property in Pune real estate market!

Who wants compact flat? Only builders?

Launch ad of Topaz Park in Park Street Wakad

"But, now, you want compact flats! So, we are changing our plans as per your demand!" recently, I am getting this answer, with a big pause at the end, from almost all builders in Pune real estate market.

The pause at the end of the sentence suggests that the property buyer should thank the builder and say, "We all are obliged, Mr. Builder! It's very kind of you to be so concerned about our preferences!!"

But it looks like that, in reality, the typical property buyers in Pune, like you, who were instrumental in creating boom in Pune real estate market, still prefer 3 bhk flats of 1,400 sq.ft.! Am i right?

Mostly you all are IT professionals. You can afford to pay roughly Rs. 25,000 EMI. Right? You haven't "downsized your requirement of space" and you are not opting for a 2 bhk flat of normal 1,000 sq.ft size, as assumed by many builders in Pune. Or you, major property buyers in Pune, are not interested in a compact 3 bhk flat of 1,200 - 1,250 sq.ft., as claimed by some builders who have resized their projects. Right?

In stead of change in the option or a preference, current trends tells me that, you property buyers, who have the power to create a boom in Pune real estate market, want normal size (around 1400 sq.ft.) of a 3 bhk flat and you consider Rs. 2,300 to Rs. 2,500 sq.ft. is a reasonable property rate. Am i right?

I came to this conclusion mainly because of the following incidents. If you know any other incidences which indicate some different trend, please, instead of general statements like "Property rate should be less than Rs. 1,700 per sq.ft. in any part of Pune!", share specific information (project and rate), with your views in the comments.

1) InSignia_Pune Housing Group of Hinjewadi IT professional to launch new project of 3 bhk flats:

Pashan Sus Road - Mumbai Bangalore Bypass Junction

Yesterday, I heard that, considering the demand of their group members, InSignia_Pune Group informed Rane Group to plan one more project of 3 bhk flats. And today, someone told me that Mr. Nikhil Rane of Rane Group has purchased a new plot of land for the next project of InSignia_Pune Group!

2) 24 Property Buyers joined Home Hunt Baner Group on the first day!

Baner Pashan Link Road

Yesterday evening, Poonam Agarwal send me the Tweet, informing me that in a day 24 property buyers joined her Home Hunt Baner group formed to get a group discount for a 3 bhk flat from the builder.

Do you remember Amit's Emerald Park at Balewadi, Pune?

Amit's Emerald Park Balewadi

Amit enterprises' long forgotten project Amit's Emerald Park in Balewadi which was on the verge of becoming historical monument of Pune real estate boom, along with Amit's Sapphire Park , has suddenly become talk of the town! Some one is promoting it's 3 bhk flats for 36 lakhs!

Madhupushpa at Wakad: group discount scheme gets good response:

Last weekend, Madhupushpa at Wakad, a flagship project, (means, first and one & only), by Paramount Gaurav Shelters Pvt. Ltd., which is a venture of Karan Group, Paramount Group and Tejraj (!), offered "Group Discount Scheme" to selected IT companies and successfully manged to improve their cash flow!

Madhupushpa at Wakad reduced their property rate from Rs. 2,700 per sq.ft. to Rs. 2,450 per sq.ft. and brought down the agreement value of their 3 bhk flat of 1,422 sq.ft. size from Rs. 41,39,400 to Rs. 34,86,900!

At this budget, well done sample flat looked very glamorous to 35 young IT couples (most of the ladies were in "T shirts and trousers"). By looking at the sample flat, these couples convinced themselves about the quality of the actual construction, by the builder who doesn't have a track record, would be excellent and financed him.

Site Office of Madhupushpa Wakad Pune

When property buyers in Pune support any new builder's first project i feel very grateful to you all. Particularly, when you support a person like Mr. Pramod Waghmare, B.E. Civil from COEP and M. Tech IIT Madras, who is trying to become a builder in Pune real estate market, after working in the government for 8 years.

Hats off to you all!!

Manav Promoters' Silver Skyscapes at Wakad gives group discount and becomes an option to Madhupushpa!

It was an emotional moment for me when someone called me to discuss "Silver Skyscapes Vs. Madhupushpa"!

The caller said he has visited both sites and he liked the floor plan and pricing of Silver Skyscapes. But he found Madhupushpa more tempting!

His only concern was the location of Silver Skyscapes. Particularly, the proposed D. P. road. I almost misheard him. I thought he was asking, "What will be ready first D. P. Raod or Silver Skyscapes? But before i said "PCMC will win the race!" He said he is booking in D building, which is almost ready. (Not really!).

Point is projects which are nearly fading out of memory are suddenly becoming worth considerable. Only because of the size of a 3 bhk flat and the discounted property rate of Rs. 2,350 per sq.ft.!

Golden Trellis at Balewadi to re-open booking in Diwali:
(If some flats are still available!)

From 5th of September '09, Pitru Paksha was supposed to begin. Obviously, one of my builder friend wanted to confirm his booking before that. This gave him an opportunity to took me to Golden Trellis site at Balewadi.

I enjoy going for a long drive when it is drizzling. So, i didn't mind visiting Golden Trellis with him. On the way, more than 3 times, my friend praised the promoter of Golden Trellis. I didn't stop him because i don't hear one builder praising other everyday. Problem was the last sentence of his praise. He used to close with, "Ravi, you should write about Golden Trellis!," "I don't write about under water real estate!," was my pet answer to him.

However, when i visited the site and saw smiling face of Chandrashekhar Tikkas, my heart filled with love and admiration for my real estate salesman brother.

While i was trying to convince him for the photograph, my builder friend was observing water filled in the foundation. "Why all water is not of the same shade?," my friend asked Chandrashekhar in a serious tone. For a second, smile vanished from Chandrashekhar's face. I felt like pushing my builder friend in the water!



I wonder who wants compact flats! You?