Aal Izz Well

Long live Pune real estate market:

Today Mr. Vijay Chandok, GM, ICICI, not only inaugurated the 10th property exhibition organized by Credai Pune at SSPMS Grounds but gave an important message to all the builders in Pune. Mr. Chandok said, "All Izz Well!"


In his inaugural address Vijay Chandok revealed that:

In the past 6 months total unit sale had gone up 1.5 times.
38,000 apartments were sold now as compared to the same period last year.
This is 50 to 60% more compared to the previous year’s figures.

Hearing this from the horse's mouth was too much for the builders in Pune. The good news made them speechless. Realizing the state of mind of Pune builders, Mr. Chandok said,

"Honth ghuma, Seeti bajaa
Seeti bajaa ke bol, Bhaiyaa aal izz well

Aree bhaiyaa all izz well
Aree chachu aal izz well
Aree bhaiyaa all izz well"

However, GM of ICICI, saw that commercial real estate developers present at the inauguration didn't join him in singing "All izz well". Addressing them Mr. Chandok said,

"We estimate that there will be development of 3 million sq ft of mall space in Pune. Given the economic performance and increase in buying capabilities we have reason to believe that these malls so constructed will meet the demand created by Pune."

Realizing the serious condition of mall and office space developers in Pune, Mr. Chandok requested mall developers to sing along with him,

"Dil jo tera baat baat pe
Ghabraaye
Dil pe rakh ke haath usae tu fuslaa le
Dil idiot hai pyaar se usko samjha le

Honth ghuma
Seeti bajaa
Seeti bajaa ke bol
Bhaiyaa aal izz well
Aree bhaiyaa all izz well
Aree chachu aal izz well
Aree bhaiyaa all izz well"

Mr. Vijay Chandok not only made Pune builders happy, but at the same time he out performed GM HDFC, Ms. Sonal Modi. Ms. Modi didn't even try to make Pune builders happy. GM of HDFC only expressed her happiness for being associated with Credai Pune (PBAP) for the last 10 years!

Aal izz NOT well:

Mr. Satish Magar, President Credai Pune, said that he is optimistic about the year ahead but like a true President, Mr. Magar said that, "Aal izz NOT well!".

Mr. Satish Magar believes in FDI, Farmers Direct Investment. Means Mr. Magar believes that farmers should not sell their land to the builders. But pool it together and develop their own real estate projects. Like his 400 acre Magarpatta City and 700 acre Nanded City Pune. However, as a president of Credai Pune, Mr. Magar cares for the builders too. He said,

"While there is a demand for homes we as a builder community are seriously concerned about the availability of land for new projects.

If the DP is not finalized, land will get scare and that can lead to a price rise.

I think the Government should focus more on making homes more affordable as against increasing taxes that will burden the common man."

Bakra kya jaane uski jaan ka kya hoga:

Now, it was my turn to become speechless!

President of Credai Pune was talking about DP, Development Plan!

The same Credai Pune who's response to Watergate of Pune, DNA's exposé of the 'water affidavits' issue in Pune, was "People move in first and roads, street lights, water and other civic amenities follow."

Today, Mr. Magar's love and concern for common man overwhelmed me.

I was almost sure that Mr. Magar was going to express his concern for increasing prices of sugar and pulses, if those who were sitting in the corner hadn't started singing:

"Agarbattiyan raakh ho gayi
God to phir bhi dikha nahi
Bakra kya jaan uski jaan ka kya hoga
Sekh ghusegi ya saala Keema hoga
Koi na jaane apna future kya hoga

To Honth ghuma
Seeti bajaa
Seeti bajaa ke bol
Bhaiyaa aal izz well
Aree bhaiyaa all izz well
Aree chachu aal izz well
Aree bhaiyaa all izz well"

I couldn't find out who they were,. Builders or property buyers. Hope, aal izz well there!

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