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Wednesday, December 9, 2009

Celestial City Ravet - facts and prospects - according to the builders Mr. Moti Panjabi, CEO, Rama Group and Mr. Anil Pharande, CEO, Pharande Spaces

Where is Ravet?

This weekend i went to Ravet. I was curious to visit Celestial City,(www.celestialcity.in) joint venture of Rama Group and Pharande Spaces.

"Where is Ravet?"
"How to go to Ravet?,"
i asked a couple of fruit vendors at Dange Chowk and ignoring the warning "For Ravet you have to walk 2 -3 Klms", i took a share-rickshaw going to Punawale.

"Walking 2 -3 klms would be nothing if you could manage to cross the new romantic Ravet bridge alone!," i told myself.

Nano Homes, Nano Spaces and Royal Casa at Ravet:

Somehow, i managed to cross Ravet Bridge. Certainly, visited Nano Homes and it's neighbor Nano Spaces.

Congratulated the salesman for reading property buyers' mind when he said, "Tata Nano's on road price in Pune is Rs. 1,30,150. But to park that car at Nano Homes, you have to pay Rs.1,50,000 + Rs. 9,000 stamp duty = Rs. 1,59,000. Why? Because, Nano Homes is about flats! Not about parking!"

Admired "vision" of the builder of Nano Spaces when salesperson told me that "We also have Multiplex and Mall inside!"
"Inside! Where?," i asked him.
"Exactly here, where we are sitting at the moment. This is BRT Junction!," he said.
"Really! Means your project is also "why go out?" type?," I said.
"Right!," he said and assured me that visiting Celestial City would be a pleasant walk of 2 - 3 klms!

Now, there was no time to visit Runal Developers' Royal Casa, which is in the opposite direction of Celestial City, towards D. Y. Patil Collage, Pradhikaran, Akurdi.

"Banana is the secret of my energy!," i reminded myself and walked towards a fruit vendor standing at the junction of the Ravet Bridge and Ravet - Expressway road.

Current Property Rates in Ravet, Near Pradhikaran:

"All gone! But there were quite a few bananas when i went in there!," i asked the vendor standing by the empty cart.
"I am Haribhau. I keep good stuff!," he said.
"But where are the buyers? Couples on the bridge? No! Not for sure. They have something better to taste and eat! Who purchased all your fruits?" i asked him.
"Look at this road. Continuous traffic. From Pimpri - Chinchwad towns to Expressway. I come here by noon and by 3 - 4 PM all fruits are gone. They stop to buy Haribhau's quality stuff," he said. "You were in for a long time. Purchased?" he asked.
"No! Just had a look. Visiting Celestial City at Ravet. Is it far away, Haribhau?," i asked him.
"Want a plot?," Haribhau whispered. "I deal in plots too. Have a look. You will be happy!," he whispered again.
For a moment, i was not sure whether he was talking about a plot of land or something else.
"Land? Haribhau, is your surname Pawar?," i asked him seriously.
"Yes! How do you know?," Haribhau Pawar asked me.

"Rate? 300 rupees?," I was curious.
"That was before this bridge was built. Now, rates have gone up," Haribhau said.
"If i buy a plot at 300, at what rate can i sell a flat?," i asked Haribhau as if i am a builder.
"Same rate they sell! How much in Nano?," Haribhau asked.
"Per sq.ft. Rs. 2,484 and Rs. 2,554 in Nano Spaces and Rs. 2,367 and Rs. 2,295 in Nano Homes," i told him without opening the brochures.
"Sonigara Aangan is Rs. 2,500. Runal Rs. 2,600! You know?," Haribhau knew his market well.
"Don't tell me! Do people pay this rate?," i asked.
"Yes! People have a budget. For bananas people's budget is 10 rupees. Always. You keep your flats in the budget," Haribhau tried to explain the pricing of properties.
"Celestial City is for Rs. 2,400 per sq.ft.," i told him. "Haribhau, now, let me go and see their bananas!," i said and took his leave.

View Ravet, PCMC - New Found Land in a larger map

Ravet - Lost & Found:

After the water treatment plants of PCMC, the road narrows, takes a sudden turn and you enter into a different world, left behind in the last century. However, you can see a few signs of this century, like abandoned retaining walls of the wide road, zooming trucks, cars and SUV on that narrow road. Strange mix of two time zones!

Ravet Village- Left Behind:

Why these people drive so fast on this narrow road? At this time in the evening, some one like me, may be coming from the opposite direction. At this time in the evening, walking on the narrow road, I might be trying to recollect small bits and pieces of the sweet memories of my girl friend.

At this time in the evening, on the narrow road, looking at the farmers working in the rice fields, i may be trying to remember the address of her home in Ravet.

How can any driver guess when i might cross the road suddenly, worried what if she has left Ravet Village, like many others and shifted in the bungalow in her rice fields?

At this time of the evening, on the narrow road by the rice fields, anything can happen! For example, instead of rice fields you find brick furnaces on the both side of the road or the road itself becomes as wide as a highway.

Ravet - New Found Land:

Surprised to see a few workers busy on the half done road, when i asked the surveyor "What is so special about this small patch of the road? Till now, I have seen construction of the road abandoned at most of the places!"
"We have to stop the construction of the road when farmers go to court. So, we are working on the "free" patches of the road," he said.
"Farmers don't like JNNURM or what? It's up to Aundh. Isn't it?," taking a photograph of the road, i asked him.

Celestial City Ravet - Why go in?

Big hoarding on the right side of the road and a watchman's cabin reminds me that my pleasant walk is over and i have reached Celestial City Ravet. Looking at the well done, paved entrance road, i ask myself, "Why not go in!"

Mapping 4 Parts of Celestial City Ravet:

Trying to remember that Celestial City has 4 roads and a railway line, i start walking on the paved road.

1) Part 1:
Assuming that the Multiplex, office space and a shopping mall, 1st part of Celestial City, will be on the first road, which i did walk down, and which connects Celestial City to Mumbai Pune Expressway and Chinchwad - Pimpri Towns and Aundh by BRT system.

2) Part 2:
I started going towards the site office, telling myself to look at the right, "Here will come the 2nd part of Celestial City which will have luxurious 2 BHK and 3 BHK Flats."

3) Part 3:
As i came near the site office, i realized that, "Here will come the 3rd part of Celestial City which will have a sports club, fitness center, restaurants and "Signature Homes"! Because of the crossing of 2 D.P. roads, this plot has a triangular shape."

4) Part 4:
On the other side of road, behind the new compound wall, will be the4th part of Celestial City, which will have 1 BHK, 2 BHK & 3 BHK Flats. Total number of flats in this part will be 700. At the property rate of Rs. 2,400 per sq.ft., booking of these flats is opened. This part is called "1st Phase of Celestial City."

Behind this 4th part, a DP road is expected, which will go to Akurdi Station. And beyond the DP road, is the railway line.

Why did Celestial City Ravet open the bookings of 1 BHK, 2 BHK & 3 BHK Flats on 26/11?

Now, it was 6 PM. So, i decided to have a look at the plot of the 1st phase of Celestial City and then visit the site office and sample flat. Arch of the main entrance of this phase is too good. One of the best. Very sophisticated. I went inside.

Mr. Mahale, civil contractor and engineer, was personally supervising the works of compound wall and entrance. He told me about the plot, the layout plan and the grand launch event on the evening of 25th November.

It was a news for me. It means Celestial City was launched on 25/11! Actually, I had read about Kailash Kher's event in Pune Times. But the date was not mentioned in that story.

The ad about opening of booking of Celestia City released on 26/11 had pissed me off. Launching a residential real estate project on the 1st anniversary of terrorist attack on Mumbai was absolutely insensitive and insulting. Result is, i used unusually harsh language and completely sarcastic tone in my blog on the launch of Celestial City Ravet.

In a way, it was good meeting Mr. Mahale, who had instantly expressed his desire to book a flat in Celestial City in the very first meeting with the builder.

Dharmendra and Damle on the property rate at Celestial City Ravet:

At the site office, the view was amazing. In a huge pandal, more than 25 tables were occupied by the property buyers. Around 50 families were visiting 4 sample sample flats, one after another. I don't know how, but Dharmendra and Damle, (who may go in Limca Book of Records for selling 1,000 flats in the 2nd half of 2009 in Pune real estate market,) managed to say hello to me.

"How are you doing? It must be a tough job to convince the property rate of Rs. 2,400 per sq.ft. "Competitive property rate" was the USP of your previous four projects. Isn't it?," i said to Dharmendra.

"Yes, this time it's a job. But not a tough job!," he said.
"After realizing the value you are getting for your money, Rs. 2,400 per sq.ft. is not a high property rate," Damle said.

"Value means Multiplex and Shopping Mall "inside". Right?," i asked him.

"Let us visit the sample flat to see what specifications we are giving," he said.
"Rama Group's sample flats! Sure!! After a long time. Last was at Swiss County at Thergaon - Wakad annex. Let us go," i said.

All of us went into one sample flat. Pointing at each high-end specification, both of them started explaining:

"1) Flooring - Baked at 1200 degree. Not the usual 600. Result - you can not only see your reflection but your face clearly in the tiles.

2) Designer tiles' dado in the toilets - beautiful bathing experience every day.

3) Sanitary fittings and plumbing fixtures in the toilets - single lever, leading brands, sophisticated commodes without water tank.

4) Electrical Switches - feather touch operation and long lasting

5) Terrace - stainless steal and glass railings, see the design and quality of these anti-skid tiles

6) Dry balcony, optimum space utilization and Vastu

7) 100 % parking, Aqua gardens and convenience shopping along with other amenities in the first phase," ending his list of "value for money," said Damle.

"All this in the all inclusive budget range of Rs. 20 lakhs to Rs. 33 lakhs for 1 BHK, 2 BHK & 3 BHK Flats!," said Dharmendra.

Celestial City - 1 BHK, 2 BHK & 3 BHK Wallet Homes:

"Yes, very impressive if you are happy with the carpet area of your flat!," i said.

I had seen the floor plans of Celestial City. The carpet areas of all flats were too small.

1) 1 BHK Flat - 448 sq.ft. = Rs. 19,85,000

2) 2 BHK Flat Comfort - 604 sq.ft. = Rs. 25,42,100

3) 2 BHK Flat Cozy - 567 sq.ft.= Rs. 23,89,100

4) 3 BHK Flat Cozy - 714 sq.ft. = Rs. 29,00,500

5) 3 BHK Flat Comfort - 824 sq.ft. = Rs. 32,82,500!

May be the smallest carpet area of a 2 BHK & a 3 BHK Flat in the entire Pune real estate market! At least, for sure, smaller than Silver Mist and Swiss County Too, Rama Group's most popular projects in Wakad! Have a look at some of the famous carpet areas in Pune real estate market:

1) Silver Mist, Pimple Saudagar - 2 BHK - 672 sq.ft.

2) Silver Mist, Pimple Saudagar - 2.5 BHK - 812 sq.ft. & 866 sq.ft.

3) Swiss County Too - Thergaon - Wakad annex - 2 BHK Flat - 653 sq.ft.

4) Swiss County Too - Thergaon - Wakad annex - 3 BHK Flat - 815 sq.ft.

5) Mont Vert Seville 2 - 2 BHK Flat - 615 / 617 sq.ft.

6) Nanded City Pune - Sarang - 2 BHK Flat - 637 sq.ft.

7) Nanded City Pune - Madhuwanti - 2 BHK - 690 sq.ft.

8) Nanded City Pune - Lalit - 2.5 BHK Flat - 825 sq.ft.

9) Nanded City Pune - Mangal Bhairav - 1 BHK Flat - 406 sq.ft.

10) Darode-Jog-Greenland-County - Narhe-Ambegaon - 1 BHK Flat - 386 sq.ft.

11) Darode-Jog-Greenland-County - Narhe-Ambegaon - 1.5 BHK Flat - 426 sq.ft.

12) Darode-Jog-Greenland-County - Narhe-Ambegaon - 2 BHK Flat Compact - 546 sq.ft.

13) Darode-Jog-Greenland-County - Narhe-Ambegaon - 2 BHK Flat Comfort- 641 sq.ft.

"Ravi, Aren't we giving 'Value for Money'?," Dharmendra asked me.
Dharmendra asking about 'value for money builder offers' had a great significance for me.

Dharmendra has sold Kunal Icon in Pimple Saudagar at the property rate of Rs. 700 per sq.ft..
Dharmendra has sold Park Street at Wakad at the property rate of Rs. 1, 600 per sq.ft.
In the last 6 months, Dharmendra has sold Nano Homes, Swiss County Too, Silver Mist and Costa Rica at Wakad.
Dharmenrda knows well exactly what value you get for each rupee you pay to the builder.
Dharmendra was asking my honest opinion.
As any real estate salesperson expects from his colleague.
I was not at all prepared for this question.
Actually, i wanted to ask Dhramendra, "Don't you think that Ravet stands exactly at the same position where Pimple Saudagar was at that point of time?"
"No doubts about money. But more than "value", i see the "wallet". These are "Wallet Homes". Homes that can fit in your wallet! Sounds better than "affordable homes". Can't say "Budget Homes" because you are giving small flats with attractive, high end specifications in a property buyers' budget. Looks like all these visitors are happy about it," i said looking around and asked, "Who is the architect of your project?"

"Come on, let me introduce you to the men behind Celestial City," Dharmendra said and took me to his bosses.

Homes for the citizens of PCMC!

Mr. Moti Panjabi, CEO, Rama Group and Mr. Anil Pharande, CEO, Pharande Spaces were sitting on a couch, looking quite happy and relaxed.

"Congratulations! Huge response!," i gave obvious compliments.
"Did you see the sample flat?," Mr. Pharande asked.
"Yes! Impressed. Who is the architect? Dilip Chabria? Flat looks like Dilip Chabria's designer version of a Tata Nano! Very attractive specifications!," I said.

"Has any builder in Pune given all this in 20 lakhs to 33 lakhs budget? No! But we have given. Our goal is to build best possible homes for 15 lakh citizens of our home town, Pimpri Chinchwad. Best quality flats, in their budget!," Mr. Pharande said and added that he is the current president of CREDAI PCMC and Mr. Panjabi was the past president.

"Budget is fine, but, Sir, i find it a little difficult to accept the property rate. Rs. 2,400 per sq.ft.at Ravet is too much. At Wakad, you launched Cost Rica only at Rs.2,300 per sq.ft.!," i said to Mr. Panjabi.

"Costa Rica is a simple project with minimum amenities. This, Celestial City, is a big township with lot of amenities. Here infrastructure costs are more. However, our pricing is as competitive as always. Land cost Rs. 300 + Corporation fees and premiums Rs. 300 + Construction cost Rs. 1,200 + Add to this Rs. 300 per sq.ft. for infrastructure development, administration expenses, power and water charges are 3 times for us, marketing & advertising expenses, and of course, interest! Rs. 2,400 is a competitive and reasonable launch price. By opening booking at this rate, Rs. 2,400 per sq.ft., we are passing the benefit to those who book at this stage than paying interest to the bank. We always follow this policy," Mr. Panjabi not only explained the current property rate but also suggested the price rise!

"And what do you mean by this location? Isn't it as good as Wakad?," Mr. Pharande said.
"Nothing is as good as Wakad! If you look from Hinjewadi," I said.

"You are looking from the wrong direction! Look at Hinjewadi from here and you will change your opinion! Look at any direction from this location and you will say that Ravet is the best location from all angles. You Puneri people don't know how strategically located Ravet is! Let us go to the site and i will explain," Mr. Pharande said and getting up.

Standing at the main entrance of the first phase, Mr. Pharande pointed at various important landmarks 1) Pradhikaran 2) Akurdi Station 3) D.Y. Patil College 4) Aditya Birla Hospital 5) Indira Institute at Wakad 6) Bajaj Auto 7) Expressway & of course 8) Hinjewadi and told me the distance from Celestial City at Ravet!
For me, after walking 2 - 3 Klms in the unknown land left behind in the last century, it was a home coming. I was back in the future!

While coming back to the site office, to impress him with my knowledge about his project, i said, "Actually, this paved road would be the DP Road, Right?"
"Yes! Infrastructure is the big plus point of my home town, PCMC! On the way, you must have seen that the construction of a wide road has already started. Look there. new water line work is going on. PCMC will not face water problems for the next 50 years. Here we have ample power. All this is possible because we have PCNTDA Pimpri Chinchwad New Town Development Authority. A development authority who's job is to develop the infrastructure before the city expands. Is this the type of infrastructure you can get in Ambegaon, Sus, Phursungi, Wagholi or in any fringe village of Pune, where most of the projects are coming today?," Mr. Pharande asked.

"May be 100 acre townships in Hinjewadi can provide water, electricity and other services but has anybody thought about how costly it would be to live in those townships?," he added.

"Infrastructure services is a serious issue in Pune real estate market. At PCMC you have land and a development body like PCNTDA, is a big advantage. How come you didn't mention this in your ads? In Pune, "integrated township" is not considered as a good idea. For us, "malls and multiplex in the township" means nothing more than an excuse for the builder to demand higher property rates. Instead of "Why go out?" you should have said "Why go in?," i said.

"Now, you have understood! You go and write this on your blog!," Mr. Pharande said! I wished him good night and took his leave.

By the time i reached the main road, it was totally dark. So, i asked the security, "Where is Ravet?"
He said, "I don't know."
"Where is Expressway?," i asked.
He said, "I don't know."
So, i asked him, "Where is Chinchwad?"
He said,"I don't know."
Before, i was going to ask him my next question, a young lady asked me, "Where is Celestial City?"
I looked at the security, he said,"I don't know."
Am i lost in a new found land or what, i wondered for a moment!

Related Stories:

Thursday, November 26, 2009
Celestial City Ravet, 25 acres township of 1 BHK, 2 BHK & 3 BHK Flats, opens booking of 1st phase

Thursday, December 3, 2009
November 2009 - Top 10 popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

Ravet stands out from the crowd as the latest Indian residential hotspot.
by Mohammed Aslam, Jones Lang LaSalle Meghraj.

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  1. " ... Our goal is to build best possible homes for 15 lakh citizens of our home town, Pimpri Chinchwad. Best quality flats, in their budget!," Mr. Pharande said ...

    Mr. Panjabi and Mr. Pharande should stop fooling people. The rate should be half (or even less) of what they are quoting at the current market prices. Period.

  2. Thanks For nice Review Ravi. I had filling that I was visiting the site. It seems we cannot compare this with BR or MP,hinjewadi.
    But this will be competition for Nanded city.Both r offering similar rates also. What do u think?
    Anybody from user any chances of negotiation?

  3. So we have smallish flats with the same old rates (2007), which ensures that the profits to the Builders remain the same as in boom time!

    The so called affordable flats mean very tiny deceptive homes, but with fat profits ...

  4. Hi Ravi:
    Is this change of heart? or Are you still being critical? I am a regular on your blog but it is difficult to read your mind!!
    Ravet is still Ravet. No comparison with Wakad, PS, PG, PN, Pashan-sus, Warje, Bavdhan.
    2400 with 100% terrace and carpet to BUP at 30-33% is nothing short of day time robbery.
    baking the tiles at 1600 not 800.... do they make their own tiles at the site. LOL Who are they kidding. My wife bakes chapati at 1600 but it got charred and not shiney.
    Almost all mfger claims they are better than others. some on shine and others on strength.
    Well we should call these sub-nano homes.

  5. Hey looks like a mug shot.... Just kidding. If they knew what you wrote in your first review..... they would have not offered you any water.

  6. 896 sq. ft 2 BHK formed by merging two 1 BHK flats costs 39,70,000 Rs. Builders are still looting the common man!

  7. # Ref: "If they knew what you wrote in your first review..... they would have not offered you any water.

    You are right! On Saturday evening, when i visited Celestial City Ravet, the builders didn't know what i have written. However, thanks to my friends, they found out late in the evening. To know what happened after that, please, read my next blog on Celestial City Ravet!

  8. # Ref: "Is this change of heart? or Are you still being critical? I am a regular on your blog but it is difficult to read your mind!!"

    You are right! I am confused!! This is the third occasion. Want to know about other 2 occasions?

    1) On the eve of launch of Paranjape Schemes' Blue Ridge. I thought, they should call it "ETshri" on the lines of "Athashri" (http://www.pscl.in/athashri.html), because only "Aliens" would like to book a flat at this location, at the property rate of Rs.3,200 per sq.ft.

    2) On the launch of Amit's Bloomfield at Ambegaon! Rush to book at Rs. 3,200 and property price going up to Rs. 4,000 per sq.ft. was completely irrational and illogical for me.

  9. thanx ravi .. i have been following ur blog for long time. I really liked this review..
    Can u tell me one thing.. since pune properties r going Mumbai way i.e snmaller carpet area.. why these builders still offering terrace???...the small terrace is absolutely useless... and deceiving carpet area...

  10. Kumar Properties Park Infinia is 41 acers, rate is 2250 and specifications are good. BIG GARDEN & Cloub House. 2 BHK is 1100 SQ FT. real 2BHK. You can also connecte easily to bangalore mumbai pypass.
    2400 rate is too high for nano flats at ravate.

  11. # Ref: "why these builders still offering terrace???"

    Yes, why? I completely agree with you.

  12. Ravi, Thank you for the detailed post.

    Just wanted to make the readers understand that when they compare one property with another carpet to salable area and balcony/terrace area creates a significant impact on the price. For example for a 1000Sq foot carpet area if builder tops up 30% the salable area will be 1300 where as if builder tops up 25% (which is the norm)the salable area will be 1250. Hence there is a difference in 50 sq feet. At the rate of 2400 you end up paying 120000 more which is close to 100 rs sq foot additional on 1300. Hence the rate will become 2500 and not 2400. Another thing is I have seen Rama group is loading 100% of balcony. If we have a balcony of 100 sq foot then there is another impact of 100 rs per sq feet. Hence roughly the price becaomes 2400+200=2600 rs per sq feet and not 2400. Readers need to be factor this while comparing the price.

  13. Hi Ravi, I know you usually avoid posting personal opinions on RE trends, views and rather believe in your RE friends in Pune which we understand. I also know these are bit off topic of this blog and probably not eligible for blog post but here are few links below for readers to decide whats going on...

    DE Shaw sells 36% stake in DLF Asset for $500 mn

    Alok Ind decided to Exit from RE to pay debt

    Dubai crisis: Dawood dials (Mumbai) builder, asks him to pay up

    Anyways, thanks for publishing these diff views though

  14. "Hence roughly the price becaomes 2400+200=2600 rs per sq feet and not 2400."

    Thanks for the info. So that is 1700-1800 psq ft. profit that Rama is making!

    For a 2-Bhk flat (1000 sq. ft.) worth 8L only, it's a cool 18L profit! (excluding other forced charges like membership, maintenance, etc.)

  15. # Ref: "Hi Ravi, I know you usually avoid posting personal opinions on RE trends, views and rather believe in your RE friends in Pune which we understand."

    - How kind of you, Mr. Anonymous! God bless you!!

  16. Hi Ravi:
    A Kumar properties 41 acre scheme is pushed by his agent here. Watch out guys

  17. # Ref: "I also know these are bit off topic of this blog and probably not eligible for blog post but here are few links below for readers to decide whats going on..."

    These are very much "off topic of this blog". I am publishing your comment for a while because i respect your attempt to share what's going on around. (By the way, i have couple of other blogs on real estate. You can find them on my Google Group and visit my room Indian Real Estate News on FriendFeed)

    Next time, please, feel free to open your mind and express your thoughts about me and my blog without bothering to post any links. I am sure, you must be "feeling great" after writing critical words about me. I request you to express yourself not because i enjoy reading your words but because i want to see you happy and healthy. God bless you.

  18. # Ref: "Just wanted to make the readers understand that when they compare one property with another carpet to salable area and balcony/terrace area creates a significant impact on the price."

    I believe in: Property Rate = All inclusive total cost you pay for the flat / Carpet Area.

    Carpet area is the only legal and measurable unit. Rest is sales gimmick.

  19. Ref: Ravi Karandeekar said:
    I believe in: Property Rate = All inclusive total cost you pay for the flat / Carpet Area.

    Carpet area is the only legal and measurable unit. Rest is sales gimmick.

    Ravi this way the sq. feet rate published by builder becomes a sales gimmick as well. For example Mr. Pharande in your interview mentioned who is selling such project at 2400 per sq feet. Isn't that a gimmic without understanding what he he is doing with carpet area to salable etc............ As you rightly said total cost is the true indicator. However it makes sense for readers to be educated in some of the basic things that builder's play with because they know buyars care a lot about per sq feet rate. Hence they keep it less and play with other parameters like carpet to salable,infrastructure cost,development charges etc.

  20. # Ref: "Ravi this way the sq. feet rate published by builder becomes a sales gimmick as well."

    Yes. You are right. Pure gimmick.
    Smart property buyers buyers, as per my experience, say, "Cut the crap! Tell me the carpet area of my flat and the total all inclusive property price i have to pay!!"
    Smart property buyers don't look at the real estate from builder's point of view.

  21. I second the motion... it should be total cost divided by carpet area of the livable space. But then how do you factor in Terrace cost?
    Perhaps time for a math genius to write a new equation.

  22. I just happened to go through your blog, while searching land in pune. It is written wonderfully man, with images and your own sense of humor matching with chetan bhagat...nice.

    Property in pune is high becoz of only two reasons.
    the people are ready to pay , the builders are ready to loot..
    and the people once coming to pune dont want to leave pune.

    its obvious when you said 50 couples were there looking out for homes. any builder would be dripping his saliva. all he cares is show off and attract more.

    once the society is formed then the people really get fucked.
    they will have to manage the multiplex , the swimming pools, parks, security , garden, back up generator diesel ...electricity and water charges , common light charges ...

    so actually its not cheap, your monthly maintenance would be somewhere around 4000 - 5000 .sure.

    so add that to the emi of 23000 that 28000
    if people spend 28 lakh they would have got a much bigger home without all these ...

    multiplexes and gyms and swimming pools are all there in pcmc man, adlabs fame vishal and nice shopping malls ...what is the need in one society...

    the next thing is once you have a multiplex all the romeos will come there to see the movie, maybe tease your wife, sisters, and enter the buildings ....the more the public the more are the parking problems ....

    people are so easily fooled man...

    in pune two things are very common,
    the neo rich [ who have just got money ]
    slimy jackal builders ...

    yet people will be people...rushing to advertisements ... not towards need.

    firoz siddiqui

  23. It is a well written blog with Chetan Bhagat like humor. The arithmetic of purchasing a property depends on your wallet. When it is about your shirt or trouser, you go for the brand name and pay 5 times more than its real price. When it is about the property, you have to ensure you don't sink your hard earned money in legal problems, inferior quality construction, leaking plumbing or neighbors you won't gel with.

  24. Hello Ravi,

    COuld you please share your opinion about Runal's ROYAL CASA located at Ravet,Pune ?

  25. Hello Ravi,

    Do you have any info. why is the construction so slow for Celestial City, Ravet?
    I had visited the site last year and last week also I had a chance to visit the site and I was surprised to see that the construction have not picked up as it should have.

    Infact I was planning to go for a 2BHK but....


  26. Hello Prashant! Yes, everybody is unhappy about the slow construction at Celestial City. However, i couldn't get the official reason from the builder.

    However, considering the delay in registration of agreements, it may be going as per the schedule.

    We have to accept that the project launch and booking at the initial stage are only means of collecting interest free finance from the buyers, it has nothing to do with the construction and completion of the project.

  27. hello Ravi Sir,

    Can you please comment on the quality of Nanded City construction and whether it is worth buying?

    1. Magarpatta City had made huge grand podiums, which were the USP (ultimate selling point). They really added a lot of space and charm. They are missing in Nanded City. So Nanded City societies will look like lower end socities with vehicles roaming around and parked all over the society.

    2. For 22 storey buildings (double than Magarpatta) and no podium, how come parking is going to sufficient? considering that many flats may have two cars in future. Moreover seeing the dead-end corner of the city, public transport won't be available easily.

    3. In magarpatta city terraces are 20 ft high, whereas in Nanded city they are just 10 ft high, meaning very less air and sunlight to the flat.

    4. In Nanded City construction, the walls are load bearing. Is there a risk in it? This construction is much cheaper and still Nanded is highly priced.

    Appreciate your expert detailed analysis on the above concerns of many buyers.

    Many thanks,

  28. Hello Swaraj!
    These are all prejudices! I wonder if you have all these prejudices - why are you thinking of buying a flat in Nanded City Pune? If you are really serious about buying a property, please, tell me what are those? Consider those are my answers too!

  29. Thanks for your quick comment Ravi Sir,

    Probably I had high expectations from Nanded City that they will make it better than Magarpatta City, at least with respect to the points mentioned in my previous questions. And probably I'm disappointed for that reason to have blindly booked a flat there before launch. You have asked for an example of a property which I would consider buying, then example is there - Megapolis - same load bearing walls but much better construction quality, grand huge podiums, mutilevel car parking, luxurious amenities etc, and price same as Nanded City.

    Anyway, I can understand you are not there to analyze each aspects of every project. Pls forget about my question and keep doing your good work.


  30. can you speak about price of Runal Royal Casa-Ravindra