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Friday, October 8, 2010

Paranjape Schemes' Yuthika 2 BHK, 3 BHK Flats near Sadanand Resort at Baner Pune - pre-launch offer

Paranjape Schemes' Yuthika Baner Pune:
Paranjape Schemes' upcoming project Yuthika at Baner Pune

2 BHK Flats - 810 / 813 or 792 / 789 Carpet + Terrace:
For Rs. 53 to 57 Lakhs Only!
Paranjape Schemes' Yuthika, 2 BHK & 3 BHK Flats at Baner Pune- 2 BHK Flat
Paranjape Schemes' Yuthika, 2 BHK & 3 BHK Flats at Baner Pune- 2 BHK Flat

3 BHK Flats - 1121 / 1070 Carpet + Terrace
For Rs. 72.6 to 76 Lakhs Only!
Paranjape Schemes' Yuthika 2 BHK & 3 BHK Flats at Baner Pune - 3 BHK Flat
Paranjape Schemes' Yuthika 2 BHK & 3 BHK Flats at Baner Pune - 3 BHK Flat

Wondering why my dear friend Sachin Kulkarni would have named his "2 BHK Flat for Rs. 20 Lakhs, all inclusive property price, at Kondhawe Dhawade Pune 411 023" project - "UrbanGram" - I left Vastushodh Projects' office on Karve Road.

When i reached SNDT, i realized that old habits die hard! However, i remembered that i always wanted to take a photograph of Karve Road - in the evening - from the foot bridge at SNDT! Means, it was not an old habit but my new passion made me take an evening walk to SNDT, was somewhat unbelievable, but i accepted it at that point of time and shot a few photographs of Karve Road.

Karve Road at SNDT, Pune
Karve Road at SNDT, Pune

While i was struggling to take a good photo of the home-going evening traffic at SNDT, i started wondering what these people might be thinking at this point of time.

Would anybody wonder - how much time Karve Road's Warje Flyover to Kondhawe Dhawade streach will take to transform?

No. No chance! Everybody on this road knows well, that in around 3 - 4 years - Warje Flyover to Kondhawe Dhawade stretch of Karve Road - would be as dveloped as Nal Stop Chowk to Karve Putala! Response to Vastushodh's 2 BHK Flat for Rs. 20 Lakhs has already proved this.

Would anybody on this road be thinking about investing in Pune real estate market?

No! Now, these people living in Kothrud - Paud Road don't have "to think" about investing in Pune real estate market! Over the years, these Punekar's are farming and harvesting their "investment farms" in Baner and Balewadi and reaping good profits too!

Of course, these Punekar's have taken lot of effort to cultivate their investment fields of Baner and Balewadi. And, of course, huge efforts to restrict and prune the "growth" of these "fields of profits" without affecting the established preference in the young, out of town, IT professionals to own a home in these areas. Smart people!

When it comes to buying a home for their dear ones, these people will go to Warje and now, Kondhawe Dhawade. But, to invest in real estate and earn appreciation, they will go to Baner - Balewadi - and now, even to Hinjewadi! What a strategy!

I remembered the conversation i had with someone who was planning to invest in Baner at the property price of Rs. 4,250 per sq.ft. I asked him, "Do you think that you can earn some appreciation at this rate?"

"Ravi, don't forget that real estate appreciation is achieved only by creating right state of mind! Don't you think that the property rates in our Kothrud and Paud Road will help us to create the hope that someday property rates in Baner Balewadi and Hinjewadi could go up to at least Rs. 6000 per sq.ft.?," he said.

"Creating hope is easy. But there should be some infrastructural development too. At least, we have to construct some roads." i said.

"Constructing road is time taking and expensive. For this young generation one Multiplex and a Mall is enough!," he said.

"Yes, you are right! A Multiplex and a Mall fires hunger and lust for popcorn as well as for property!," i said.

Good idea! I had spent a couple of hours talking about the upcoming residential destination of Kothrud - Paud Road Punekars. Now, why not see how "investment farms" of these Punekar's are doing! So, i decided to visit nearby offices of Parnajpe Schemes (Construction) Ltd. To see how their upcoming project Yuthika at Baner - (YOO thee ka) - is doing!

By the time, i reached Paranjape Schemes' office, it was almost closed. But thanks to a dedicated salesperson for giving me the details of the pre-launch offer and a brochure. For your reference, i have posted some crude photographs of layout plan, floor plan of 2 BHK and 3 BHK Flats from their brochure. Remember my friends' vision about property price appreciation and, please, have a look at Paranjape Schemes' Yuthika, located in the divine Baner! God bless you all!!

Paranjape Schemes' Yuthika, 2 BHK & 3 BHK Flats at Baner Pune on Google Maps:

View Paranjape Schemes' Yuthika, 2 BHK & 3 BHK Flats at Baner Pune in a larger map

Layout Plan of Paranjape Schemes' Yuthika, 2 BHK & 3 BHK Flats at Baner Pune:

Paranjape Schemes' Yuthika 2 BHK & 3 BHK Flats at Baner Pune - Layout Plan
Paranjape Schemes' Yuthika 2 BHK & 3 BHK Flats at Baner Pune - Layout Plan

Pre-launch Offer of Paranjape Schemes' Yuthika, 2 BHK (Carpet 789 / 792 / 810 / 813 + Terrace) & 3 BHK Flats (Carpet 1070 / 1121 + Terrace) at Baner Pune:

Visit the webpage of Pre-launch Property Price of Paranjape Schemes' Yuthika at Baner Pune:

Related Stories:


Vastushodh Projects to launch "2 BHK Flat for Rs. 20 Lakhs" - (All inclusive Property Price) - at Kondhawe Dhawade Pune 411 023, soon!

2) FRIDAY, OCTOBER 1, 2010

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

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  1. Quick back of envelope calculation for a 2BHK...

    2BHK Approx carpet: 800 sqft.
    Assume 30% loading.
    Salable area = 800*1.3 = 1040 + 50 (Terrace 50%) = 1100sqft approx

    Excluding Stamp Duty, registration, VAT, Service tax approx price is Rs.50L

    Rate = 50L/1100 = 4550 per sqft
    All inclusive rate = Rs.55L/1100 = Rs.5000

    ...right next to the expressway.

    All of a sudden, I am feeling that I am below poverty line... :(

  2. What are Paranjape's official figures for salable area and the psf rate?

  3. What? "Saleable Area"!? What is it?

    Property rate for the per sq.ft. of saleable area?

    Grow up, man!
    These are old and out dated concepts.

  4. Exact phrase "Salable/built-up/super built-up/..." doesn't matter in my earlier comment.

    Builders are very innovative to come up with new-age terms like "annexe, super-duper builtup, , infra/misc charges, loading".

    This aside, are my calculations correct in approximate figures?

    Rs.55L today for 1100sqft 2BHK just besides expressway... phew

  5. 55 lakhs for 800 sqft 2bhk crammed jammed flat? for god's sake, people how can you put your whole lives on the lines, working hard to repay home loans for 20 years for these pigeon holes?
    builders and salesmen have really fooled the people of Pune/India.

  6. Dear wi-sec, why are you feeling shy to calculate property rate on the carpet area? It's legal!

    Property Rate = All inclusive property price / carpet area.....simple and legal way to find out the property rate!

  7. I’m considering buying a 3BHK flat in this Paranjape Scheme primarily for investment purpose. The project looks good. However, I would like to know if you foresee a possibility of significant risk of depreciation by the time property is ready to live (2 years?) or let’s say in next 5 years.

    I feel Pune properties are already bit overpriced compared to other metro cities; may not appreciate like we have seen in the past; the INR appreciating against USD; a weakening U.S. economy; unemployment in U.S. may impact Indian economy someday. Increasing government fees/taxes and bank loan rates would reduce investment returns if demand for property falls.

  8. Congrats PuneRE for considering to invest in a 3 BHK Flat in Paranjape Schemes' Yuthika at Baner!

    Yes, the project is well planned. Layout of the project, as well as the sizes, shapes and plans of both 2 BHK & 3 BHK Flats are good.

    This building has 2 staircases and 2 lifts. Of course, it would have good to have one stretcher lift and one passenger lift.

    I wonder why there is no refuge area for fire in the building!

    I am impressed with the planning of Yuthika - and you know? - i am tempted to compare the planning of Ythika with Paranjape Schemes' project and other ongoing projects in Baner!

    Simplicity in the planning of Yuthika is rare in Pune real estate market! I can see only one project has this much simplicity at this point of time - Megapolis Smart Homes 1 & 2 in Hinjewadi Phase 3.

    You ask, " if you foresee a possibility of significant risk of depreciation by the time property is ready to live (2 years?) or let’s say in next 5 years."

    First, congrats for considering that it will be "ready to live" in the next 5 years!

    Second, you have accepted that the price you pay today is the price of the "ready to live property" which will happen only after 5 years.

    Thanks for not comparing the property price of Yuthika with the current property rates! You know that you are paying in advance. In 2010 you are paying the property price of 2015!

    However, when i read the next para - i started wondering - why are you considering to invest in Yuthika - if you believe in these things!

  9. These are like Aundh prices.

    Now dont say grow up!

  10. Terrace is 100%.

    So total rate (I think) is:
    for outside facing((carpet+terrace)*1.25*4000)+1 lakh (for MSEB+Legal) + 2 lakh for parking.
    for garden facing((carpet+terrace)*1.25*4200)+1 lakh (for MSEB+Legal) + 2 lakh for parking.

    What a ripoff. Customers should teach this arrogant builder a lesson. Magnolia (which was supposed to be "glamorous") is a disaster, most residents are unhappy. Visit there anytime this week to see a flooded basement from the rains 2 weeks ago.

    Gloria is another ripoff. Possession delayed for years and years - check out the comment on wikimapia by a disgruntled user.

    The only reason this builder is getting away with such practices is their name - gullible Punekars following their projects because of the Marathi/Brahmin last name. Like sheep. Grow up, please.

  11. wat is VAT?and IF builder asked for VAT amount so is it necessary to credit?

  12. Ravi, thanks for the response. I knew the project would be ready to live in about 2 years, but from investment perspective I was thinking over the period of next 5 years (“or let’s say in next 5 years’ horizon”). Missed the word ‘horizon’, sorry for the confusion.

  13. [ RaviK ] Property Rate = All inclusive property price / carpet area.....simple and legal way to find out the property rate!

    Approx calculation: 2BHK, 800 carpet, 55L+2L parking.

    57L/800 sqft = Approx Rs.7125 per sqft of carpet area

    Is my maths poor or am I missing something?

    Gosh, even in US$$$ terms, this is costly.

  14. The rate of ~4500 is too high in that area. Only a fool can buy in this scheme. The rate should not be higher than 3700 in that area (near to express highway). It sis no the center and a noisy area of full of trafic and polluion of teh highway.

    Buyers, please look at the rates near buy , don't buy blindly.

    Best wishes!

  15. Builder wants 10% of Property value + 2.5% service tax at the time of booking!


  17. I visited this site today, price quoted was 4300/- and 4600/- which felt ridiculous. I am waiting for the bubble to burst .....

  18. @ Ravi: There is one more property at Service road...balaji generosia. They are offering the same specs as yuthika (more or less) at the much smart pocket size...i am confused which one shall i go for?? which would be one smart choice?

  19. Hi Guys,
    Please check this

    I am regular reader of your blogs. I had seen you have posted this notice earlier.
    Why did you removed that notice,


  20. Yuthika land is under some litigation...check out this notice in newspaper

    It says land of Yuthika is under litigation...
    and the chap is charging Rs.55L+ for a 2BHK at launch


  21. Dear Vivek! Today is 11th February 2011. You posted the comment on 9th February 2011. The legal notice which you saw was posted on my blog on 20th January 2011. By Anirudh. In his comment. Here:

    Yes, on the same blog where you have posted the same comment without link! Without link! Why? Amusing!! Why someone questions me but never shares the link! Amusing!!! Isn't it?

  22. Hi Ravi,
    Any updates on the Notice for Yutika,
    Is paranjpe paying back money to those people who booked in Yutika.

    Thank you,

  23. +1
    this is land litigation noticed with Yutika, i am talking about.

  24. Thank you Ravi for the updates,

    I had very good opinion about Paranjpe Builder few years back. As I am from Pune few of my friends had asked me my opinion about the builder, i was suggesting them to go for flat in the scheme by Paranjpe "Aakh meech ke".

    But not any more. Seeing few incidents in Blue Ridge and Yutika i will not suggest Paranjpe anymore.

    Thank you,

  25. When will the booking for 2nd phase paranjpe scheme Gloria will start?

  26. @ Ravi: There is one more property at Service road...balaji generosia. They are offering the same specs as yuthika (more or less) at the much smart pocket size...i am confused which one shall i go for?? which would be one smart choice? (3 BHK flat)

  27. i was planning to buy at paranjape schemes yuthika but came across this site www.paranjapeschemesyuthika.com , can you throw some light about this ? is there such a ruling passed against paranjape

  28. Police book developer for forgery, building on disputed land in Baner

    Plot on which Yuthika is being raised is under litigation, builder says complainant’s documents are forged

    The Chatuhshrungi Police have filed a first information report (FIR) against Shrikant Paranjape of Paranjape Schemes and Sudhir Sable of Sable Waghire & Co. and others on allegations of forging documents, erecting and selling residential and commercial buildings on land which is under litigation.

    The housing project in the eye of the storm is Yuthika on Survey Number 89 in Baner. The police started inquiry in this case after Shankar Narhari Gurav (75), a Baner resident, who claims to own the plot of land, approached the magistrate court.

    Police book developer for forgery, building on disputed land in Baner, News - City - Pune Mirror,Pune Mirror

  29. I as a buyer was completely duped. The management did not inform me that Yuthika ( Baner) was under litigation : http://www.punemirror.in/article/2/201305092013050900415568776925910/Police-book-developer-for-forgery-building-on-disputed-land-in-Baner.html. It was only when i received court notice that i found out that there was a problem . To top it I currently reside in the US. Yuthika staff has not informed me about the legal process ( lawyer who is representing the case summary of the hearing,status of the case). The staff does not respond to any of my queries after multiple attempts are made to reach them over email and phone. Agreement mentioned that the complex will be ready by Dec-2013 which is not the case. I would really like to caution anyone who wants to invest their hard earned money in this property . I totally regret my decision to invest with Paranjpee builders it is a sham.

  30. Hi Ravi & everyone,

    Do anyone have idea about the case on Yuthika? is it resolved or still under prosecution? I am looking to purchase flat either directly from builder or resale.


  31. Hello,

    I am looking to buy a resale property in Yuthika, Owner/Agent says the case is resolved. Do you have more details on this?