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Friday, August 27, 2010

Megapolis Smart Homes 2 - "What's up?"


Megapolis Smart Homes 2, Hinjewadi Phase 3 - Hemant Kulkarni in the sample flat 1
Megapolis Smart Homes 2, Hinjewadi Phase 3 - Hemant Kulkarni, General Manager, in the sample flat

I haven't posted updates about Megapolis Smart Homes 2 for a while. In fact, on 15th of August, i visited Megapolis, visited site & sample flat, had a chat with Mr. Hemant Kulkarni, General Manager of Megapolis (www.megapolis.co.in) and, of course, took some photos too. However, i got busy with some other projects and couldn't post any updates about Megapolis Smart Homes 2.

But, i was in touch, frequently asking "What's up Megapolis?" "Booking!," was always the standard answer. But not the complete answer. "Booking!....100" "Booking!...150" were the complete answers. Today, when i received an answer, "Booking!.....250", I realized that, before it is too late, i should post a quick update.

Open the gates and seize the day:

Sunway - Megapolis Smart Homes 2 - Amenities
Megapolis Smart Homes 2 - Amenities

Yesterday, a lady from Mumbai asked my opinion about investing in Megapolis Smart Homes 2. She said, "I was serious about some other project, but i changed my mind"

When i asked her 'why?', she said, "My children want a swimming pool! And the layout posted on your blog shows that Megapolis Smart Homes 2 has 2 swimming pools. Are they really going to provide 2?," the lady asked.

"Yes! 2 swimming pools," I said. "Good! I will not waste my time elsewhere. Thanks, i will visit Megapolis this weekend," she said.

My dear lady, you are not the only one, even i wasted my time by checking up every newly launched project.

Recently, builders in Pune have realized that property buyers are out on the road for shopping, so every builder says, "Open the gate and seize the buyer!"

Though his first phase was behind the schedule, one builder invited some model to launch a second phase. Someone suddenly realized that he is not a builder but a designer and launched a lifestyle brand. One builder who took one year to construct the sample flat, opened the booking of the next phase. A builder who was badly bitten on the stock market wants you to pay 20 % now and 80% on possession.

I thought, i must post updates today because, even if 5% of property buyers had wasted less time in considering other projects, i am sure, i would have heard, "Booking!....500"

Special Offers from Housing Finance Companies:

Megapolis Smart Homes 2, Hinjewadi Phase 3 - property buyer checking the special offers
Megapolis Smart Homes 2, Hinjewadi Phase 3 - property buyer checking the special offers

Someone told me that he could manage to pay his own contribution and book a flat in Megapolis Smart Homes 2 because a leading private bank offered him more than 85% home loan!

When i called to confirm, i was told that - yes, depending upon your "papers", private banks are offering attractive special offers and waving fees to get maximum business from Megapolis Smart Homes 2! It's good news for the first home buyers in Pune, i must post a update today.

It's a trap!

Megapolis Smart Homes 2, Hinjewadi Phase 3 - property buyers at the reception
Megapolis Smart Homes 2, Hinjewadi Phase 3 - property buyers at the reception 

Recently, quite frequently callers tell me that, "It's a trap!".

I booked at Wakad, but haven't signed the agreement yet. Builder doesn't have some clearance. It's a trap!

Six months ago, I booked at Rs. 2,600 in Pimple Saudagar. Now the rate is 3500. But the construction of my building is stalled because plans are submitted for revision. And will be sanctioned only after the BRTA Corridor issue is solved. It's a trap!

Big group. Good location in Thergaon. Fits in my budget. But revised plans are not yet sanctioned because of the new rule of 2 staircases. It's a trap!

I liked the project and wanted to book but found out that some people are planning to go to court and stall the project. It's a trap!

Thank god! Megapolis is not in PMC or PCMC!! I must post the update today. Otherwise, how can anyone from Mumbai can understand that 'this weekend' would be better than 'the next weekend' to visit Megapolis Hinjewadi Phase 3.

Be There or Be Square:

In this blog, i must share a few useful tips, i thought. After all, i blog to help you book a flat. Right? What would be the most useful tip? I asked myself.

Oh! Yes!! Weekends are the most busiest days at Megapolis Hinjewadi Phase 3. IT professional working in Hinjewadi come with their families. Real estate investors come down from Mumbai. Defense personnel looking for a cool place to stay after retirement come from all corners of India.

This weekend, i heard, new buildings will be opened for booking. So, be there or be square. Oh! That was not the tip! Tip is: Main entrance gate closes at sharp 6 PM and booking office at 6.30 PM. So, reach Megapolis before 5PM!

If you are in Pune, visiting on a weekday is the smartest idea!

Megapolis Smart Homes 2, Hinjewadi Phase 3 - 1
Megapolis Smart Homes 2, Hinjewadi Phase 3 - Reach before 5PM!

How to catch a chicken:

Park your car. Enter the site office. Reach the reception counter. Sit on the couch, waiting for your turn. This may be the proper way, but not the only way. Not, at least, for the subscribers of Ravi Karandeekar's Pune Real Estate Market News Blog.

To get the preferential treatment in the normal crowd of a few hundred visitors on any weekend, please, have a look at the photograph of "Team Megapolis". Remember every face with it's name. As soon as you enter the site office, identify the person and start, "Hello! Deepak!!", "Hello! Suryakant!!" "Hello! Kiran!!" and see the wonders!

Team Megapolis:Sitting - Mr Chetan, Mr Hemant Kulkarni (GM), Mr Deepak Standing - Mr Suryakant, Mr Nishikant, Mr Pramod Fand, Mr Amit, Ms Kiran, Mr Hande, Ms Meenakshi, Mr Ginder, Ms Supreet, Mr Ved, Mr Rakesh, Mr Shailesh, Mr Datta
Team Megapolis: Sitting - Chetan,  Hemant Kulkarni (GM),  Deepak  Standing -  Suryakant,  Nishikant,  Pramod Fand,  Amit, Ms Kiran,  Hande,  Meenakshi,  Ginder,  Supreet,  Ved,  Rakesh,  Shailesh,  Datta

Simple Relaxation Techniques:

What i admire most about Megapolis Smart Homes 2 is - it's simplicity and transparency.

Because of the simplicity in planning and transparency in transactions, booking a flat in Megapolis Smart Homes 2 is "no stress" mission. Of course, for that you have to do a little homework.

To know about the offer, please, visit my blog: "Sunway - Megapolis Smart Homes 2 - Hinjewadi - Rajiv Gandhi Infotech Park Phase 3, Pune 411 057 - Brochure and Property Prices of 2 BHK & 2.5 BHK Flats". Click the images, floor plans to enlarge and study. Refer the property price chart to see the cost of your choice of a flat.

At the end of this blog in "Related Stories", I have given links to all my blogs on Megapolis Smart Homes. Visit these blogs and comments. I am sure, you will not have more than 2 questions. Write down your questions and ask when you visit. If you do this home work, when you will visit Megapolis Hinjewadi Phase 3, for sure, you will be ready and relax!

Megapolis Smart Homes 2, Hinjewadi Phase 3 - extra tables for visiting property buyers
Megapolis Smart Homes 2, Hinjewadi Phase 3 - relaxed and ready property buyers

How to book a 2 BHK Flat in Megapolis Smart Homes 2 at Hinjewadi Phase 3:

You have done your home work. You want to book a 2 BHK Flat. Your first preference is for the 6th floor. But you don't know which buildings are open for booking. So, after "Hello! Chetan!!" you will tell him your choice, "2 BHK on 6th Floor" and ask, "Which are the buildings open for booking?"

At this point of time, A4, A5, A6, A7, A8, A9 buildings are open. Chetan will refer to the most important "book" in Megapolis, Availability Chart, and confirm. If your choice of a flat is not available, both of you will discuss different options and finalize.

If you prefer to wait for the new buildings, you can tell Chetan your choice and give a check of booking amount. For example, nearly 75 people have already given their preferences and cheques for A10, A11 & A12 buildings, which might be opened on this weekend!

Isn't it simple to book a 2 BHK Flat in Megapolis Smart Homes 2?

Congrats! I am happy for you!!

Megapolis Smart Homes 2, Hinjewadi Phase 3 - checking the available flats for booking
Megapolis Smart Homes 2, Hinjewadi Phase 3 - checking the availability!

Related Stories:

1) FRIDAY, AUGUST 20, 2010

Sunway - Megapolis Smart Homes 2 - Hinjewadi - Rajiv Gandhi Infotech Park Phase 3, Pune 411 057 - Brochure and Property Prices of 2 BHK & 2.5 BHK Flats

Re-Publishing with new images of Elevation and Amenities and bigger readable floor plans! Please, click the image to enlarge. Thanks, Anuraag!

2) MONDAY, AUGUST 2, 2010

Big news about the soft launch of Megapolis Smart Homes 2 at Hinjewadi Phase 3, Pune

3) MONDAY, JUNE 7, 2010

Megapolis Smart Homes 2 - upcoming bigger and better 2 BHK Flats for Rs. 32 lakhs in Hinjewadi Phase 3

View Megapolis Smart Homes Hinjewadi Phase 3 in a larger map

4) SATURDAY, JUNE 5, 2010

Yes, Megapolis Smart Homes Hinjewadi Phase 3 will have 15 floors, means 160 additional 2 BHK Flats!

5) THURSDAY, MAY 6, 2010

Megapolis Smart Homes Hinjewadi Phase 3 Pune - construction begins!
Smart "Homes" or Smart "Home Owners"?

6) SUNDAY, DECEMBER 13, 2009

Megapolis Hinjewadi Phase 3, Pune - Are you investing in a 1 BHK for Rs. 16.87 lakh or a 2 BHK for Rs. 25.34 lakh Smart Home?
Pre-launch offer of Avinash Bhosale and Kumar Properties' joint venture Megapolis creates buzz in IT companies in Rajiv Gandhi Infotech Park, Hinjewadi!
Should I or shouldn't I recommend Megapolis Smart Homes?


Megapolis Smart Homes Carnival, Hinjewadi Phase 3

8) SUNDAY, JANUARY 3, 2010

Megapolis Hinjewadi Phase 3 news - Visit puneprophinjewadi's Picasa Web Album
Construction progress, sample flat and bus terminus at Megapolis:

9) FRIDAY, JANUARY 22, 2010

Megapolis Smart Homes invite you to perform Bhumi Pujan ceremony!
11AM on 30TH January 2010 at Hinjewadi Phase 3:

10) SUNDAY, FEBRUARY 7, 2010

Megapolis Smart Homes News - flat owners perform Bhoomi Puja
It's all about integrity and integration:

11) SUNDAY, AUGUST 1, 2010

July 2010 - Most popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

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  1. http://ravikarandeekarsblog.blogspot.com/2010/08/sunway-megapolis-smart-homes-2.html

    shashi said...

    Spoke to midc person about the lease ,
    per them, the sale is "not the 99 year lease" the buyer will get the full ownership. But when the buyer want to sale it to other party that deal will happen through MIDC (not sure how will this happen?)

    for more info visit http://www.midcindia.org/Pages/IndustrialDestinations.aspx?IndusID=261
    or talk to MIDC office on 020 25821660

    Tuesday, August 10, 2010 3:09:00 PM GMT+05:30


    Ravi, what is your view on this?
    Do you know what will be the role of MIDC in reselling the flat? Do you what are the costs involved?

  2. 1) Agreement between the property buyer in Megapolis and Pegasus Properties is "Agreement for Sell" - like any project in Pune and PCMC.

    Which means that like any flat in PUNE AND PCMC you can sell, mortgage and gift your flat to any body.

    MIDC is not at all involved.

    Just like any original landlord - farmer of any project is not involved when you resale your flat.

    2) Agreement for the 150 acre land of Megapolis between Pegasus Properties - in which MIDC, GIC (Investment company of Singapore Government), Avinash Bhosale Group and Kumar Properties - and MIDC is "Lease Agreement for 95 Years".

    After 95 years, lease will be automatically renewed - as per the clause in the Lease Agreement.

    At the time of "renewal of the lease", every unit holder will contribute nominal amount, say Rs. 1 per sq.ft.!

  3. The biggest problem in Hinjewadi is oversupply. I really doubt there is enough demand for it.

    Even in case of megapolis -- To maximize profits, Megapolis developers will develop atleast 12-15 towers more. Because of this, there would not be too much price appreciation. I think price appreciation would be at most 10% per year.

    Note that there is ample space available where currently 4 towers of "premium flats" of Megapolis are under development.

    However, for people working in Hinjewadi IT park, this township seems pretty good to stay in.

  4. Also, as in every other township in pune , Megapolis also has one "proposed" commercial complex.
    Ravi: Why dont you mention about progress of construction in Megapolis smart homes phase-1.
    People will know how reliable/unreliable the builder is.

  5. Ravi,
    Next time when u visit Megapolis ask them what it takes to update their website? The website information is too old as compared to Blueridge. They don't even have construction updates posted.

    Also can you compare smart homes against Premium homes.

    Thanks in advance.

  6. Ref: "The biggest problem in Hinjewadi is oversupply. I really doubt there is enough demand for it."

    Ajay, thanks for raising the important concern about "oversupply"!

    In the mainstream media, international real estate consultant always raise this question because "supply and demand" is the most popular principal of economy and raising this question gives them an opportunity to motivate real estate investors by justifying the future price appreciation.

    Looks like that you don't have that motive. So, i wonder why are you "feeling" that there is "oversupply" in Hinjewadi and why doubt about the demand?

    For the rest of your doubts like -

    "Note that there is ample space available where currently 4 towers of "premium flats" of Megapolis", and

    to understand the exact scope and size of the project, please, visit www.megapolis.co.in

  7. Ref: "Why dont you mention about progress of construction in Megapolis smart homes phase-1. "

    1) Because, this blog is not about the progress of construction of Megapolis Smart Homes 1.

    2) I have already told you that i visited the construction site on 15th of August 2010. Nearly, 2 weeks ago. In these 2 weeks at least one more slab would have been casted. So, i didn't post the old photographs.

    3) "People will know how reliable/unreliable the builder is." - Ajay, what an intelligent statement!

  8. Ref: "Also can you compare smart homes against Premium homes."

    Sure! Price, carpet areas, number of floors, construction technology, parking, layout of the project - everything is high end in the premium homes.

    But it doesn't mean that Megapolis Smart Homes is low end. Still, Abishek is Small B and Big B is Big B! Right?

  9. Hi Ravi-

    Few questions for you.

    Still the new three buildings (A10,11,12) are not launched in Smarthome 2. Not sure why there is a delay. Do you have any idea?

    What are the top three 'drawbacks' and 'good things' of this project according to you?
    To me the connectivity with city is a major issue & not sure if there is any plans to solve this.

    Lastly, is Megapolis a value for money; if you compere to the other projects like celestial city, Lake district, Nanded city..many more in pune.

  10. This comment has been removed by the author.

  11. Ref: "Do you have any idea?"

    Sorry, i don't have any idea!

    Ref: " 'drawbacks' and 'good things' of this project"

    Nabin, i am real estate salesman. Not a property buyer.

    Property buyers find the drawback in the projects. Not a real estate salesman like me.

    Because, property buyers think about the project whereas I think about the buyer.

    For me drawbacks depends upon property buyers' preferences and expectations. So, for me, what matters is - Is this project good for you?

    Ref: "is Megapolis a value for money"

    Yes! Because, at Megapolis (and Nanded City Pune) along with a well designed and constructed flat (this is for Megapolis!) @ Rs. 2400 - 2850 builder provides you water, power, safety - security, well planned neighborhood of 150 acres!

    Where as in the project you have mentioned in the same rate - or more - you only get a flat!

    More than "value for money" what is more important - sustainability of these township!

    For me more than getting married - what is more important is remain married! However, we never think of this aspect when we get married. Right? Same about buying a property!

  12. Hi Ravi,
    Do have any idea about road plan from Megapolis to Balewadi stadium? I there is any saction road plan? If yes when that will be ready?

  13. I feel Megapolis could be a BIG trap?

    Hi Ravi,

    I booked a flat in SH1, thought lucky to get one due someone's cancellation. After making the payment of booking value, it was time to sign the agreement. But to my shock, i noted some clauses which did not fit my thinking. Noted following points(some of my concerns yet not all):

    1. The purchaser gives an irrevocable consent to the Developer for any changes or modifications, additions, alterations, revisions in the layout plans of the buildings which are under construction or to be constructed including conversion of terraces, changes in open spaces, amenity space, building layout, etc. (Does this mean they can mke any changes completely or partially to the entire layout. So why do we rely on what they say 'we will get', is what we wil actually get. Eg. Swimming pool)

    2. The terraces of the buildings belongs solely to the developers and can even alter and do additions to the terraces, extension of the building, etc before or after completion of the construction. (This means he can do any chngea the the layout and structure and will to own the terraces and may even create nuisance for us)

    3. The further trap the point 1,2 is the clause saying ' The purchaser grants his irrevocable consent to the developer and agrees - the developer shall be entitled to sell any portions of the terraces, stilt, basements, walls or open spaces.

    4. And to top it up 'A declaration that the Purchaser shall not be entitled to any easement or right of light or air which would restrict or interfere with the free use of the neighbouring or adjoining premises..... blah blah
    (This just shuts our mouth completely. Now, we have no say even in basic right given by the Constitution of India)

    5. The purchaser to indemnify any taxes, penalties, duties, premium charegd by the govt. before or after completion of the building. (Does this mean that in case the builder defaults on any act on their part and the govt smacks penalties, why do we bear it, even after this being the developers fault)

    6. To add futher the above point the clasue saying - The purchaser gives an irrevocable consent not to raise any objection or interfere with the rights of the developer reserved thereunder, and in case of any unwarranted and unjustified interference claim or objection, to indemnify the developer for the loss and damage suffered by him whatsoever.

    Further there is penalty clause giving the right to developer to take back rights to tne property in case of a default by purchaser, bu has no penalty clause saying what will the penalty be for any significant delays in the completion of the project.

    These just few points that I noted while reading the agreement.

    I am very nervous and unsure about the integrity of the developers now. Please suggest.
    I havent yet signed the agreement and will be talking to Pramod tomorrow but wanted to get your genuine advice too.

  14. Dear Sareeka, it's not a trap.

    All builders have same type of clauses in their agreements.

    Agreement of a property is always completely in favor of a builder. In an agreement builder protects his interest.

    - Tells you that you are purchasing only the space in side the 4 walls and 2 slabs. Not even the terrace. Rest belongs to me - the builder. I have - the builder has - complete freedom to use it as i wish.

    Because of this - buying with Megapolis makes sense. You know that you have purchased the concept. Not the product. Mr. Hemant Kulkarni, GM of Megapolis, considers himself as facilitator. (Good idea! Isn't it?) In the agreement, Megapolis is only protecting itself. But, Megapolis is going to build as per the plan.

    Though, you don't have any right to question him - you have to work to make sure that you are not harmed. You receive expected service and Megapolis works as a facilitator!

    Obviously, Indian Legal and Banking System has no objection to this one sided agreement. So, now, you realize that you are on your own. So, the property buyers in a project should join hands and keep a watch on the progress and protect their interest. Because, ultimately you are paying to the builder - in advance - to construct as per the concept.

  15. So Ravi, what I understand that ignorant purchasers just blindly sign the agreement, and those who know also having no option but to sign the agreement the way the developers want us to.

    We have no say in it. Either take the property or leave it.

    IS that what you mean?

  16. Hi
    Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog post smart home