Ravi Karandeekar's Pune Real Estate Market News Blog: January 2010

Sunday, January 31, 2010

Good news! Vascon Engineers' IPO subscribed 1.12 times on final day!!

As per the news in Business Standard, the Initial Public Offer (IPO) of Vascon Engineering, opened on January 27, was subscribed 1.12 times on the final day of the offer, on January 29, 2010.

Vascon Engineers, an engineering, procurement and construction (EPC) services and real estate development company in Pune, received mild response from investors. Considering that in a week when the stock markets were falling, all primary market investors were preserving their money for mega public sector company issues coming in the next few weeks, and all other 3 smaller issues opened along with the Rs 200 crore Vascon IPO were facing rough times and finding it difficult to get investors, Vascon, indeed, did considerably well!

Non-institutional investors and qualified institutional investors supported the issue; their reserved portion subscribed 3.65 times and 1.12 times, respectively. However, retail investors' portion got subscribed just 0.62 times.

Invest in Vascon with long term view:

Moral of the story is, for various reasons even if you haven't subscribed to IPO, down the line, you should invest in Vascon Engineers with long term view at a right price point. Because, unanimously all have appreciated Vascon as an engineering, procurement and construction (EPC) services providing company.

For example, Indiabulls Securities Research report says that Vascon has strong execution capabilities, a robust order book, and with recovery in real estate sector Vascon's margins will improve.

In his review of Vascon IPO, Jitendra Kumar Gupta, complained in Business Standard that the offer price of Rs 165-185 per share was leaving limited room for appreciation. But at the same time, Mr. Gupta recommended that investors may apply at the lower price-band. Now, it means, should invest in Vascon at a lower price!

Calling Vascon IPO as Pricey Issue, Supriya Verma Mishra in The Economic Times said that long term investors are advised to invest post listing!

Vidya Bala of The Hindu Business Line also found offer price of Vascon IPO very steep. However, though Vidya recommended that investors should avoid the initial public offer of Vascon Engineers, Vidya Bala said:

Scaling up of real-estate revenues, winning of significant contracts from external clients or a steep correction in the stock price linked to broader markets can be reasons to take a re-look at this recommendation.

Vascon Engineers' engineering, procurement and construction (EPC) projects:

Vascon has 24 years of experience in providing EPC services, which includes, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.

Vascon provides EPC services for its own projects as well as to third parties. Its third party EPC clients include well-known Indian and multinational companies.

As of December 31, 2009, Vascon had completed an aggregate of 181 EPC contracts, with a total contract value of Rs. 8,888.70 million.

As of December 31, 2009, Vascon was engaged in 70 ongoing and forthcoming EPC contracts, with an estimated total contract value of Rs. 40,141.11 million.

Vascon Nucleus Mall, Camp, Pune:

I am sure, you must have seen some of Vascon's well known EPC projects in Pune, which have already become landmarks. Like Nucleus Mall in Camp and Suzlon Corporate Campus at Hadapsar.

Suzlon Corporate Campus, Hadapsar Pune:
(Click to Enlarge)

HDIL’s Rs. 2000 million contract to design and construct it's upcoming commercial complex in Kurla, Rs. 2485 million contract of constructing Multilevel Car Park for Delhi International Airport, construction of high-rise Ruby Mills, at Dadar in Mumbai, are some of Vascon's ongoing EPC projects.

Point is, though IPO is over, you can invest in Vascon's shares and / or Vascon's properties at Baner Balewadi and Kharadi!

Ruby Mills, Dadar Mumbai:
(Click to Enrage)

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Rising real estate prices - RBI expresses concern

In addition to its concern about food inflation cascading into a wider increase in prices, the Reserve Bank of India is worried about burgeoning asset prices.

The concerns have arisen as both capital markets and real estate prices are looking up.

RBI governor D Subbarao expressed his concerns about the rising real estate prices. “Increasing optimism about the recovery and high levels of liquidity are driving up real estate prices although they are still some distance away from the pre-crisis peaks.”

This could mean that the central bank may raise risk weights/provisioning on bank loans to real estate going forward.

To read more, please, visit Not just food, RBI wary of asset price spiral as well

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Friday, January 29, 2010

Now, Pimpri Chinchwad Municipal Corporation to hike taxes up to 15%

Municipal Commissioner of Pimpri Chinchwad Municipal Corporation (PCMC), Asheesh Sharma, to explain hike in property, entertainment, cleanliness, fire brigade, education, water and tree tax in coming week.

Municipal Commissioner says:

The proposal of increase in taxes is such that they would be increased only by 5 - 6 per cent.

Less than ten per cent of the population, which falls into the higher income bracket, would have to bear a 15 per cent increase in taxes.

Pune Municipal Corporation (PMC) has already proposed 22% hike in property tax.

To read more, please, visit Corporators fume, PCMC postpones tax hike proposal

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If you want good people in politics, politicians should be paid good salaries - BJP corporator Vikas Matkari

Do you agree with Vikas Matkari?

Do you think that by paying a salary of Rs 7,500 per month we are compelling over 249 corporators in Pune and Pimpri-Chinchwad Municipal Corporations to be corrupt?

Look at what Mr. Matkari says:

One cannot expect a public representative to be not corrupt when his salary cannot cover his office expenses.

In fact, in the PMC class IV staff gets more salary than the corporators. By paying measly salaries to public representatives, you are compelling them to be corrupt.

The corporator is the only public representative who is accessible to the people on a day-to-day basis.

But the corporators cannot even hold a small programme, get-together or even put up a hoarding with the salary they get.

To read more, please, visit Corporators aren’t happy with salary hike

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Thursday, January 28, 2010

About Blue Ridge Boat Club, Hinjewadi Pune

First ever private boat club created by any developer in Pune:

"Blue Ridge Boat Club marks the fulfillment of yet another promise made by us to our clients who have booked flats at Blue Ridge Hinjewadi.

We had promised them amenities which are unparalleled and unmatched so far, and we have made sure that they were not empty promises.

And we are proud to say that we have been able to make this happen only because of the unstinting faith and support extended to us by our 1000 plus customers, because of whom we have been able to sail past smoothly during the time of recession," Shashank Paranjape, MD, Paranajpe Schemes (Construction) Ltd.

Welcome to Paranjape Schemes' Blue Ridge Hinjewadi:
140 acre township that blends residential housing with an IT/ITES Special Economic Zone (SEZ):

Blue Ridge and it's 1.5 km stretch of Marina:

"We are very conscious of not only preserving the beautiful environment, but also tremendously enhancing it, so we have made sure that there are no motorized boats at our boat club, since they are polluting.

Also, rowing, sculling and kayaking provides good exercise in natural surroundings.

We also are going to give a radical makeover to the 1.5 km banks of the water stretch at Marina with amazing landscaping.

That’s not all – we are planning to plant atleast 10,000 trees in the entire Blue Ridge project, which will have a positive carbon footprint, because when we took over this land, there were hardly any trees,” Shashank Paranjape.

A zero discharge of water into the river:

Blue Ridge, 90 lakh sqft constructed space, will have a zero discharge of water into the river flowing by, because there is a high-tech sewage treatment plant, which will treat the water, and the treated water will be used for cooling, gardening and flushing purposes.

Blue Ridge Boat Club: First ever private kayaking facility in Pune and More:

The membership of Boat Club is free for the residents of Blue Ridge Hinjewadi. Now, they are free to enjoy their favourite water sports – boating, kayaking, sculling and punting, over the 1.5 km stretch of Marina, amidst the serene and scenic surroundings of the water belt.

And as one enjoys the boat ride, they will be greeted with a breathtaking view of the river banks, beautified with spectacular landscapes, using local shrubs, flora and fauna, making it truly a place of tranquility and relaxation.

The Blue Ridge Boat Club will, certainly, have lifeguards and all safety aspects will be taken care of.

What’s more – those who do not want to get into a boat in the water, can walk along the marina, where coming up soon are a fruit orchard, a butterfly garden and even a pet zoo!

That’s not all – also on the cards are the barbeque corner and the fishing point, making the marina complete.

Thanks to Usha Karnani, Director, Inspirations!

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Apple introduces new $499 iPad tablet computer

Apple iPad unveiled: Sideshow:

CEO Steve Jobs introduces Apple's new tablet in San Francisco, Wednesday, Jan. 27, 2010. It's called — you guessed it — the iPad.(AP Photo/Paul Sakuma)
Slideshow

CBS-cnet-Video:

Apple CEO Steve Jobs unveiled the company's much-anticipated iPad tablet computer Wednesday, calling it a new third category of mobile device that is neither smart phone nor laptop, but something in between.

Jobs said the device would be useful for reading books, playing games or watching video, describing it as "so much more intimate than a laptop and so much more capable than a smart phone."
Read More

A Look at E-Books on the iPad:

Steve Jobs, during a closely watched presentation of Apple’s new tablet device, applauded Amazon.com’s Kindle reader.

He added, however, that Apple plans to “stand on their shoulders” and go further with the iPad’s e-book capabilities. In this video clip, he walks through the new iBooks app, which lets users flip through titles and download books through a bookstore interface that’s similar to iTunes.WSJ Blogs-Video

About Apple iPad:

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Wednesday, January 27, 2010

100 acre land at Hinjewadi - Sobha Developers calls off land sale

Thanks to Infosys co-founder N S Raghavan:

Click to Enlarge

Sobha Developers had put up for sale some of their lands, including 100 acre at Hinjewadi in Pune. The total value of these lands is between Rs 600 and 800 crore. The sale would have generated the much-needed cash for Sobha to develop its projects. Like Sobha Carnation on Kondhwa road, Pune.

However, Sobha Developers, is learnt to have called off the land sale. Because Sobha managed to strike a deal with an investment fund owned by Infosys co-founder N S Raghavan to raise Rs 225 crore by selling a part of its land bank. And also because Sobha managed to reschedule a substantial part of its loan portfolio.

To read more, please, visit The Economic Times

Links:

1) The amazing Infosys story How Infosys was born

2) Nadathur Holdings and Investments Pvt. Ltd.:
An investment firm established by N.S. Raghavan , Founder and Former Joint Managing Director of Infosys, with the aim of nurturing knowledge based and innovation driven ventures that either target the Indian market or leverage Indian resources to target the global market.

3) Nadathur S. Raghavan Centre for Entrepreneurial Learning:
The NSRCEL has been formed with this mission to bring ideas to implementation through a structured mentored programme which will help entrepreneurs see their idea taking shape into a planned Organisation which will render itself in a phased manner to be a successful business entity. The NSRCEL set up by the Indian Institute of Management, Bangalore, is a world-class Centre of Excellence for seeding, nurturing and promoting entrepreneurship.

4) Outsourcing dollars fund real estate in Bangalore

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Tuesday, January 26, 2010

Most popular blogs of the week - 18Th to 25Th January 2010

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Vande Mataram.....

26TH January 2010:

Jaideep, thanks for stirring up the spirit!

Click to Enlarge

I am India:

Mile sur mera tumhara: Original Doordarshan:

FIR MILE SUR MERA TUMHRA.flv

India-awake: Mile Sur.....Searching for the Soul of Integration

Monday, January 25, 2010

About launch of Nandan Inspera, 2 BHK Flats at Wakad Pune

Three hundred 2 BHK Flats booked in pre-launch offer!

This weekend, I went to Nandan Prospera, opp. Sadanad Hotel on Baner Road to interview Mr. Shamkant Kotkar, Chairman and M D of Nandan Buildcon Pvt. Ltd. I was curious to know about the up-coming launch of Nandan Inspera, 2 BHK Flats at Wakad Pune on this 26TH January 2010. I was very much sure that it would be a huge happening more than any recently launched project in Pune real estate market.

Yes, of course, one reason was it's Nandan's project and my friends Rugwed and Rutuparna Deshpande of Setu Advertising were in charge of advertising.

Plus, equally important reason was the location of the project. Wakad Pune! The launch of Nandan Inspera, i was very much sure, will bring back the glory of Wakad. Which lost it's shine after lackluster launch of Park Titanium in Park Street Wakad and Kolte Patil's 24K Glitterati in Pimple Nilakh. Completely thrown into oblivion by Celestial City Ravet and Woodsvile in Pradhikarn!

Launch of Nandan Inspera will be a proof, i was sure, that builders in Pune offer all property buyers an equal opportunity to boost the real estate market and boast about it!

At Wakad, Nandan Buildcon is offering an opportunity to IT professionals who are all the time suspended in the transit mode and at present working in Hinjewadi. Whereas, at Dhayari on Sinhagad Road, Paranjape Schemes, Darode Jog Properties and Mittal Group are grounding 'permanently settled down in Pune' type property buyers. All are getting an equal opportunity to boost property prices from Rs. 3,500 per sq.ft. to Rs. 4,000 per sq.ft. Which was not even in the last real estate boom in Pune!

Carrying great expectation about the launch of Nandan Inspera in my mind, i went to interview the builder, Mr. Shamkant Kotkar. Interviewing the builder, particularly on the eve of project launch, i haven't done before. Yes, since i have started this blog, i don't meet builders on my own. Not every builder, even if he called me! Only because, over the years, i have heard them enough. Now, except few builders in Pune, i enjoy hearing you. Any property buyer in Pune real estate market!

My nervousness reduced when the receptionist at Nandan Inspera asked, "Have you visited the site before?"and started searching my name in her computer. "I am not a property buyer! I am a friend of Mr. Kotkar," i said. Yes, this was good, i was visiting this builder because of my long acquaintance, i told myself and sat on the couch.

No! As a blogger i should not feel shy to meet a builder who most of the time is at the site office, i said. Actually, i should feel proud to meet the builder who invites the property buyers to design the flat of their choice, i told myself! Completely convinced about my decision to meet the builder, i started talking to myself, "Mr. Shamkant Kotkar, on the eve of launch of Nandan Inspera, I, Ravi Karandeekar, feel proud about you. After the grand launch of Nandan Inspera, i am, sure whole Pune real estate market will be proud of you..for boosting the market and increasing the property..." till the receptionist told me that i can go in!

"Kotkar Saheb, i have come to interview you on the occasion of launch of Nandan Inspera at Wakad. Can you, please, spare a few minutes for me?," i said, pulling the chair.

"You wasted your time. You should have called me. Now, have a cup of coffee and if you haven't come on the cycle, i will drop you," Mr. Shamkant Kotkar uttered the words with a great difficulty.

"Oh! Sore throat!! Sorry to bother you. Please, don't trouble yourself. I will call you tomorrow to talk about the launch," i said.

"Don't call me. on 26TH we are not launching but starting the works...pre-construction..because those 300 property buyers who have booked and designed their flats are going to construct it too..." Mr. Kotkar said.

"What does it mean? Design your flat...construct it...and live in it.....! Sounds interesting!!," i said, without understanding what it really meant!

"Come over some time in the coming week and i will tell you," Mr. Kotkar said. "Anytime for you, sir!," i said and took his leave.

"Now, what should i post?," i asked myself. To confirm, i called Setu Advertising and asked, "Is it true that there is no big launch of Nandan Inspera on 26TH, as declared?"

Rugwed said, "Yes. No big launch. You know 300 flats are already booked. He is not pulling your legs!"

"That's fine! But what about other builders? Who will boost the market in Aundh annex?," i said without expecting any answer from him.

Oh! My god!! I didn't ask about the current property prices of Nandan Prospera and Nandan Inspera. At least, i could have written about it, i realized and called Nandan Buildcon's office. Here is what i have learned:

Nandan Propspera: - Property rates
1) up to 7TH Floor - Rs. 4,500 per sq.ft.
2) From 8TH to 11TH Floor - Rs. 4,800 per sq.ft.
3) For 12TH Floor - Rs. 5,300 per sq.ft.
4) Only few 3 BHK Flats, costing around 90 lakhs, are available.

Nandan Inspera Wakad - Property rates:
1) Rs. 3,300 per sq.ft.
2) Only 2 BHK Flats - Saleable area - 973 sq.ft. & 1100 sq.ft.
3) Living room - 12' x 16'
4) Bedroom - 12'x 14'
5) Specifications of Nandan Inspera - as per Nandan Prospera
6) Price of 2 BHK Flat - Rs. 40 laks - Rs. 43 lakhs

In short, property buyers have done a good job! They have not only designed the smaller version of Nandan Prospera for themselves at Wakad but property buyers have made Mr. Shamkant Kotkar's job easy! Yes, ultimate truth is: Only property buyers can increase the property prices, boost the sales and revive Pune real estate market! Are you listening Aditi?

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CRR hike for sure; interest rates may remain unchanged

Hike in CRR at this point may not immediately push up the borrowing costs for companies and individuals

I am fairly convinced that Reserve Bank of India (RBI) governor D. Subbarao will increase banks’ cash reserve ratio (CRR), or the portion of deposits that commercial banks are required to keep with the central bank, by at least half a percentage point in the 29 January review of monetary policy. This will probably be implemented in two stages and drain out about Rs22,000 crore of liquidity from the system

If RBI does not act now, it will have to resort to a larger dose of CRR and rate hikes later. The good news is that a hike in CRR at this point may not immediately push up the borrowing costs for firms and individual consumers as banks will continue to have appropriate liquidity.

Subbarao may refrain from raising interest rates even though many members of the technical advisory committee (TAC) on monetary policy at RBI, I am told, are rooting for an increase to rein in inflationary expectations.

To read more, please, visit Tamal Bandyopadhyay-livemint.com

The hollow men of monetary policy

Higher interest rates or CRR hikes not only curtail growth and employment, but also add to inflation by raising input costs. Policy pundits should know that, in fact, tight money is never a good idea

There is a cacophony of confused ideasand a deficit of genuine insight into how to fix India's runaway inflation. The mavens of the Reserve Bank of India or the Ministry of Finance, who sit in their air-conditioned offices poring over numerous numbers that pretend to tell India's economic story,should think twice — or more than that.

FALLING GROWTH

In their aggregation, these numbers mask the sheer complexity of the millions of micro-economies that make up India. Looking at these numbers and deciding that interest rates need to be raised (admittedly great for middle income savers) or that money supply has to be made tight, is simply the wrong way to go. Such an approach ignores the realities of Indian consumption and entrepreneurship.
To read more, please, visit Sumit K. Majumdar - The Hindu Business Line

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Sunday, January 24, 2010

Vascon Engineers IPO

Vascon Engineers IPO to open on Jan 27:

Vascon Engineers, an engineering, procurement and construction (EPC) services and real estate development company, is entering the capital market on January 27, 2010, with an initial public offering (IPO) of 10,800,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The price band has been fixed between Rs 165 and Rs 185 per equity share. Bids can be made for a minimum of 35 equity shares and in multiples of 35 equity shares thereafter. The issue will close on January 29, 2010.

The issue would constitute 11.95% of the fully diluted post issue paid-up capital of the company and the net issue would constitute 11.84% of the fully diluted post issue paid-up capital of the company.

Promoters' shareholding will be reduced to 38.41% post issue, which includes 13.19% stake of R Vasudevan and Lalitha Vasudevan.

For the year ended March 31, 2009, the company has reported net profit of Rs 31.27 crore on total income of Rs 524.76 crore.

The issue proceeds will be used for construction of EPC contracts & real estate development projects; repayment of debt and general corporate purposes.

CRISIL has assigned IPO Grade 3/5 to the IPO of Vascon Engineers. This grade indicates that the fundamentals of the issue are average relative to other listed equity securities in India.

The book running lead managers to the issue are Kotak Mahindra Capital Company Limited and Enam Securities Private Limited.
moneycontrol.com

Vascon Engineers IPO: Avoid

Premium valuations, and high dependence on related parties for contract revenues make this offer unattractive.

Investors can avoid the initial public offer of Vascon Engineers, a provider of EPC services, for now. Despite a good track record in construction, premium valuations, dependence on related parties for a bulk of the future contract revenues and long gestation of its real-estate projects support our recommendation. At the offer price band of Rs 165-185, the stock is likely to trade at 32-35 times its consolidated annualised earnings for FY-10 on a post-issue equity base. The valuation does appear steep, irrespective of whether it is compared with pure construction contract plays or stocks of established realty companies.

Scaling up of real-estate revenues, winning of significant contracts from external clients or a steep correction in the stock price linked to broader markets can be reasons to take a re-look at this recommendation.

Long drawn:

Vascon Willows Phase2
3 BHK & 3.5 BHK Flats at Baner Balewadi Pune:

Read More:

Vascon's projects also appear long-term in nature. For instance, only one-fifth of the EPC projects (external and own projects together) of Rs 3,227 crore are slated for completion over 2010/11. Similarly, of the 55 million square ft. of real-estate projects planned/being developed, less than 10 per cent are due for completion over the next three years ending FY-13. Earnings growth in the near term may, therefore, not keep pace with the valuations sought now.

Further, unlike the Mumbai commercial market, where prices have seen a quick revival, Tier-II cities such as Pune, where the company's commercial projects are concentrated, have not seen any clear demand pick-up as yet. Over the long term though, residential projects, a chunk of it in Pune, dominate the portfolio.

To read more, please, visit Vidya Bala - The Hindu Business Line

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Saturday, January 23, 2010

Lavasa becomes architectural testing ground for the fashionable new “science” of biomimicry

A new architectural science that mimics nature: hope or hype?

It may not even be the most sensible endeavour, but it’s what HOK, an American design firm, and the Biomimicry Guild, a “consultancy for bio-inspired design”, have set out to do at Lavasa, billed as “Free India’s Largest Hill City”

It’s been tried in a few parts of the world, but on a much smaller scale. The Swiss Re building in London, designed by Lord Norman Foster, is modelled on the structure of a sea sponge, with gaps in each floor creating shafts that ventilate the building. The Eastgate Center in Zimbabwe uses ventilation structures similar to those found in termite mounds.

In India, however, the goal is much bigger; a “bio-inspired city” has never been attempted earlier.

The guiding principles of the new science are fairly straightforward. Nature knows best; the “greenest” constructions are those that emulate natural design. The Biomimicry Guild believes that the way to making the city sustainable is to emulate the processes and design strategies of the moist deciduous forests of the region, which they say are “locally attuned, benign, interdependent and optimized”.

Shuttling between Lavasa and offices in Mumbai and St Louis, the architects at HOK have been working frantically to translate those principles into practise. Biologists from the Biomimicry Guild have been flown in from across the world; and extensive three-way discussions held between the unlikely combination of biologists, architects and HCC site engineers.

To read more, please, visit livemint.com

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Amanora Park Town launches 2ND school!

Managed by Manipal K-12 Education!

Click to Enlarge

Privately managed Amanora says that their 2ND school will be managed by Manipal K-12 Education. Which is "renowned" for it's "futuristic learning experience" with "technology enabled classrooms". Amanora's 1ST school, is Pawar Public School.

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Blue Ridge Hinjewadi to launch "Boat Club" on 26 January 2010

You all are invited!

Click to Enlarge

Hello Global Citizen!! On the occasion of launch of Boat Club, on 26TH January 2010, at 10.30 am, Blue Ridge Hinjewadi is inviting you to watch "Professional demonstration of Races" and designer 1 BHK, 2 BHK, 3 BHK, 4 BHK, 5 BHK flats!

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Friday, January 22, 2010

Megapolis Smart Homes invite you to perform Bhumi Pujan ceremony!

11AM on 30TH January 2010 at Hinjewadi Phase 3:

Hemant Kulkarni, General Manager, has invited me too!

Few minutes ago, Mr. Kulkarni called me. He told me that he is inviting you all, who have booked a 1 BHK / 2 BHK Flat, along with your family, to participate and perform Bhumi Pujan ceremony of Megapolis Smart Homes.

He not only said that i can blog this news but invited me too! "Thanks! Very sweet of you to invite me!!," i said and asked him, "Exactly how many..... are invited?"

"We have crossed 450! Plus, well-wishers like you!!," Property Guru Hemant Kulkarni said.

He also said something about the property rate of Megapolis Smart Homes!

Darode Jog Properties' Serene-County on Sinhagad Road - pre-launch offer

Upcoming residential projects in Pune real estate market:

1.5 BHK, 2 BHK & 3 BHK Flats - off Crossover-County:

Serene-County is located next to Darode Jog Properties' Crossover-County on Sinhagad Road.

Actually this is the 2ND phase of Seren-County. Darode Jog offered 1ST phase of 3 buildings to those who were on the waiting list of their Greenland-County at Narhe - Ambegaon. Now, they have started accepting pre-launch booking of the 2ND phase.

Serene-County is not yet on Darode Jog's website (www.darodejog.com). I am writing this referring to their brochure and the price list, i collected at Credai Pune property exhibition.

2ND phase of Serene-County has 292 flats in 9 buildings.
1) 3 BHK Flats - 1 Building of 10 stories - 38 flats.
2) 1.5 BHK Flats - 4 Buildings of 7 stories - 142 flats.
3) 2 BHK Flats - 4 Buildings of 7 stories - 112 flats.
I liked the layout. 3 BHK Flats' building is at the center and all other 8 buildings form semi-circle around it and create a good neighborhood.

Home of a Metrosexual Family:

At Serene-County, for the first time, Darode Jog properties are offering a type of flat they haven't offered in last 25 years. Home for a Metrosexual family.

Traditionally, Darode Jog were offering typical Puneri flat. In which, kitchen was the center of your home. Which was the domain of every housewife. Head of the family, the macho man, used to rule from the living room.

Now, roles and responsibilities of husband and wife are like the clothes they wear. Not exactly gender specific. Metrosexual male and female both wear trousers. In the family life, share or play roles as situation demands. So, at Darode Jog's Serene-County, kitchen is not the center of your home. But, an unavoidable addition to your living and bed rooms.

Since i can't show you Serene-County's floor plans, there is no point in talking more about planning. In short, what i want to say is:
1) I liked the floor plans of Serene-County.
2) I feel these flats are designed for a contemporary lifestyle.
3) I am a big fan of Darode Jog, you know.

1.5 BHK Flat in Serene-County:

1) Carpet area - 439 sq.ft. + Terrace 65 sq.ft.
All inclusive price:
[(Saleable area x Property Rate) + MSEB + Solar + Society + Development + Stamp duty + Registration]

A) Without Parking: Rs. 20,14,100
Booking amount: Rs. 2,87,460
B) With Parking: Rs. 21,73,100
Booking amount: Rs. 3,09,960

2 BHK Flat in Serene-County:

1) Carpet area - 598 sq.ft. + Terrace 69 sq.ft.
All inclusive price:
[(Saleable area x Property Rate) + MSEB + Solar + Society + Development + Stamp duty + Registration]

A) Without Parking: Rs. 26,34,400
Booking amount: Rs. 3,75,240
B) With Parking: Rs. 27,93,400
Booking amount: Rs. 3,97,740

3 BHK Flat in Serene-County:

1) Carpet area - 850 sq.ft. + Terrace 102 sq.ft.
All inclusive price:
[(Saleable area x Property Rate) + MSEB + Solar + Society + Development + Stamp duty + Registration]

A) Without Parking: Rs. 36,70,200
Booking amount: Rs. 5,21,820
B) With Parking: Rs. 38,29,200
Booking amount: Rs. 5,44,320

2) Carpet area - 850 sq.ft. + Terrace 104 sq.ft.
All inclusive price:
[(Saleable area x Property Rate) + MSEB + Solar + Society + Development + Stamp duty + Registration]

A) Without Parking: Rs. 36,76,200
Booking amount: Rs. 5,22,660
B) With Parking: Rs. 38,35,200
Booking amount: Rs. 5,45,160

Agreement:

Must be signed and registered by March 2010.

Possession:

December 2011 to March 2012.

Options on Sinhagad Road:

View Ambegaon - Narhe - Dhayari - Sinhagad Road in a larger map

Including Darode Jog's Serene-County, there are interesting options available for you, at this point, on main Sinhagad road. Paranjape Schemes' upcoming project Madhukosh and Magarpatta City's 700 acres integrated township Nanded City Pune, are practically located next door. Offering their well defined unique homes. Choosing a suitable home for your family, Metrosexual or Traditional, would be an easy decision! Don't you think so?

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Tuesday, January 19, 2010

"Yes! I can own a home!!"

On 8TH January 2010, you know, my friend Sachin Kulkarni, M. D. of Vastushodh Projects, launched his first satellite township Anandgram Yavat. On Pune Solapur Highway, 35 Kms from Magarpatta City, Hadapsar.

On 10 acres of land, Anadgram Yavat has 720 homes. 1 Room Kitchen Flats - 210 units. 1 BHK Flats - 400 units. And 2 BHK Flats - 110 units. All in the budget range of Rs. 3.25 to 7.25 lakhs. For those who earn Rs. 5,000 to 10,000 per month. Anandgram Yavat has roped in Micro Housing Finance Corporation (MHFC), to provide home loans for those who are unable to submit any proof of income.

From the day, i visited the plot of Anandgram Yavat for the first time, i was completely fascinated by Sachin Kulkarni's concept. After the press conference, Sachin Kulkarni realized that i was not the only one who found Aanadgram Yavat an interesting idea. Newspapers, you know, don't print "contact details" in the news story. But, people took trouble to Google Vastushodh's address and phone numbers. Some called to congratulate Sachin Kulkarni for constructing houses for this income group. Some visited Vastushodh's office to appreciate the builder!

The response to the news, number of hits on my blogs and your comments were telling me that something exciting was going to happen at the 3 day launch event of Anandgram Yavat. So, to experience it first hand, I requested Sachin Kulkarni to let me participate in the launch event on 8TH, 9TH and 10TH of January 2010. I would like to attend the property buyers and sell the flats, i told him.

Obviously, Sachin said yes, but on one condition. I had to do a little homework and pass the test. Considering, our friendship and professional association, it was not fair of him but i accepted his terms and conditions. Mr. Sachin Kulkarni, M. D. of Vastushodh Projects, told me to do 3 things.
1) Take a walking tour of Yavat
2) Find a room on rent in Yavat
3) Write my sales talk

Test was quite easy. Sachin's questions were rather difficult. But, answers were very simple. Within no time, i found out two best facilities in Yavat which offer rooms on rent. Shri Datta Kripa and Chavhan Nagar, both on the station road. For a double room with a bath (Mori) they were charging Rs. 1,000 per month. And 2,000 rupees was the deposit. You have to pay the electricity bill of your meter. Water and Toilets were common. At both the places rooms were not available and were not going to become available in the near future. Same answer i got at main town of Yavat.

Conclusion was, if you don't own an ancestral property or land, or if you are not a businessman there was no chance of getting any kind of a shelter. Besides the private residences, practically, no houses are built for selling. So, most of the families were renting rooms for years. For them owning a home was beyond imagination.

As usual, i shot a few photographs, which you can see below, and went back to Anandgram Yavat's site office. Of course, i passed the test. Sachin Kulkarni told me that i would find the same situation in most of the satellite towns of Pune. No housing!

Now, tell me what would be your sales talk, Sachin asked me. No sales talk, i told him. I have to convince the site visitor that, now, he can own a home and tell him how. Convince him till he really believes that "Yes, i can own a home!" Because, for him, owning a home is as good as being able to fly. You know what? I got the job!

Today, you know, Anandgram Yavat has become a hot property in Pune real estate market!

A home in Yavat

Shri Datta Kripa Rental housing in Yavat

Rental Homes in Shri Datta Krupa

Mr. Chavhan and his son, owners of Chavhan Nagar

Chavhan Nagar, Rental housing in Yavat

View of Chavhan Nagar

Common water tap in Chavhan Nagar

Common toilets in Chavhan Nagar

Washing and cleaning in front of your home

College Students in Yavat

Sunday, January 31, 2010

Invest in Vascon with long term view:

Vascon Engineers' engineering, procurement and construction (EPC) projects:

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Friday, January 29, 2010

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Do you agree with Vikas Matkari?

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Thursday, January 28, 2010

Welcome to Paranjape Schemes' Blue Ridge Hinjewadi:140 acre township that blends residential housing with an IT/ITES Special Economic Zone (SEZ):

Blue Ridge and it's 1.5 km stretch of Marina:

Blue Ridge Boat Club: First ever private kayaking facility in Pune and More:

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Apple iPad unveiled: Sideshow:

CBS-cnet-Video:

A Look at E-Books on the iPad:

About Apple iPad:

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Wednesday, January 27, 2010

Thanks to Infosys co-founder N S Raghavan:

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Tuesday, January 26, 2010

Top Content - according to Google Analytics:

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26TH January 2010:

Jaideep, thanks for stirring up the spirit!

I am India:

Mile sur mera tumhara: Original Doordarshan:

FIR MILE SUR MERA TUMHRA.flv

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Monday, January 25, 2010

Three hundred 2 BHK Flats booked in pre-launch offer!

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The hollow men of monetary policy

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Sunday, January 24, 2010

Vascon Engineers IPO to open on Jan 27:

Vascon Engineers IPO: Avoid

Vascon Willows Phase2 3 BHK & 3.5 BHK Flats at Baner Balewadi Pune:

Vascon Forest Hill: Forest County Phase 1 2 BHK, 3.5 BHK & 4.5 BHK Flats at Kharadi Pune:

Vascon Vista 2 BHK, 3 BHK & 3.5 BHK Flats at Indiranagar Nashik:

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Saturday, January 23, 2010

A new architectural science that mimics nature: hope or hype?

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Managed by Manipal K-12 Education!

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You all are invited!

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Friday, January 22, 2010

11AM on 30TH January 2010 at Hinjewadi Phase 3:

Upcoming residential projects in Pune real estate market:

1.5 BHK, 2 BHK & 3 BHK Flats - off Crossover-County:

Home of a Metrosexual Family:

1.5 BHK Flat in Serene-County:

2 BHK Flat in Serene-County:

3 BHK Flat in Serene-County:

Agreement:

Possession:

Options on Sinhagad Road:

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Tuesday, January 19, 2010

Related Stories:

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Welcome to Paranjape Schemes' Blue Ridge Hinjewadi:
140 acre township that blends residential housing with an IT/ITES Special Economic Zone (SEZ):

Vascon Willows Phase2
3 BHK & 3.5 BHK Flats at Baner Balewadi Pune:

Vascon Forest Hill: Forest County Phase 1
2 BHK, 3.5 BHK & 4.5 BHK Flats at Kharadi Pune:

Vascon Vista
2 BHK, 3 BHK & 3.5 BHK Flats at Indiranagar Nashik: