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Thursday, February 24, 2011

"Group Booking" - Sleeping with the Enemy

Availability in Kaspate Wasti, Wakad Pune 411 057 - Windwards:

In the 2nd phase of Tyagi Rameshwar Group's Windwards Wakad (www.tyagiproperties.net) a few 2 BHK Flats are available for booking. In this 6 story building, all are 2 BHK Flats. Caprpet area of these 2 BHK Flats is around 750 sq.ft. and all inclusive property price is around Rs. 42 to Rs. 45 Lakhs. Possession - in December 2011.

When i asked about 'ready possession', the salesperson told me that a couple of ready possession "investors' flats" are available for sale in the 1st phase of Windwards Wakad - where a few families are already staying! Property price of these 'investors' ready possession flats' - a 2 BHK Flat for approx Rs. 50 Lakhs and a 3 BHK Flat for approx Rs. 60 Lakhs!!

View Available! 1 BHK, 2 BHK, 3 BHK, 4 BHK Flats, Penthouses & Bungalows in Kaspate Wasti - Wakad Pune 411 057 in a larger map

Windwards Phase 1 Kaspate Wasti Wakad Pune
Windwards Phase 1 Kaspate Wasti Wakad Pune

I came out of the sales office. Stood looking at the ready possession first phase of Windwards. It looked like a monument to me. Memorial of an idea called "Group Booking" - the most popular concept among the property buyers working in Hinjewadi - which builders used as a tool to hike the property prices in Pune real estate market!

2 years ago, a group of 50 IT Professionals working in Hinjewadi, i have heard, booked in this 1st phase of Windwards Wakad at the discounted property price of approximately Rs. 2100 / 2200 per sq.ft. and laid the foundation of exorbitant property price rise in Wakad. In the "group booking" these guys paid approximately Rs. 27 Lakhs for a 2 BHK Flat in Windwards. This group booking helped the builder to increase the property rate from 2450 to 3500 per sq.ft. in less than 20 months!

No wonder, builders sponsor these group booking agents!

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  1. Wow....Good work for dissecting and showing another side or devastating impact of price rise because of group booking. But I guess then why people buy at 3500. As long as easy money is in market people are going to buy.

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  6. Shanti, my dear friend, welcome! Long time no see. I missed you, dear!

    Yes, you are right! I completely agree with you!! Readers should find the truth by themselves by knowing more about group buying. That's why i have written this blog. That's why i have given a link to the website!

    Yes, since i completely agree with you, for sure, you will admire me for giving these links:

    1) http://www.indianrealestateforum.com/pune/t-insignias-deal-palash-wakad-3195-per-sq-ft-15503.html

    2) http://www.indianrealestateforum.com/pune/t-itwap-infosys-group-5333.html

  7. Dear Shanti,
    You said: "Looks like you are paid heavily by some builder....

    We all enjoy being paid for! Right? But, fact is nobody pays us. Nobody has paid you to write this comment. Nobody has paid me to write this blog. Both of us know this. We, Shanti and Ravi Karandeekar, like to express our views. Am i right, Shanti?

  8. Dear Shanti,

    You said: "has created headache for all builders in the area....

    Oh! My god!! Shanti, don't you think that you are over exaggerating?

  9. Dear Shanti,

    You said: "You are the same person who wanted to convince group booking in some politically funded project at high price"

    "group booking in some politically funded project"? Really? Which project? Please, be specific!

    Before posting this - you have removed a couple of your own comments. You should have given some more thought to this comment too!

    Next time. OK?

  10. Dear Shanti,
    You said: "There is no adverse impact and no builder is sponsoring any group booking. However the entire methodology of group booking is beyond understanding of such an advertiser of builders"

    No adverse impact?
    Please, explain!
    Take this opportunity to explain the entire methodology of group booking!

    Dear Shanti, you are talking about a few group members.

    I am thinking about all Pune property buyers!

  11. Hi Ravi,

    I am a regular reader of the blog.
    thanks for sharing views.
    I have one question ,can we sell the flat before posession of the flat(Agreement done).
    If yes then which all thing one should keep in mind while selling(From rules and regulations point of view)

  12. Hello Swapnil! Thanks for reading my blog! No. You can't sell the flat before possession. Because, you can not sell anything which is not yours.

    1. Hello Ravi ji, i was not aware of these kind of blogs about properties, bt come to know as i wanted to buy a new flat. My brother told me about you blogs and honest suggestions, even for unknown people.

  13. Hi Ravi

    I completely agree to your view about group booking. Hats of the phrase " sleeping with enemy " for this context. All the project launched with much hyped funda of group booking are at some non sense location with non justifiable rates. Just look at the headaches and rates given by famous builder to group booking combine. Yoy can't believe the rates given to groups near Kirloskar house somewhere on banglaore bypass.
    People should consider ( or be aware of) the hidden business behind this group booking combines.

    Amol K.

  14. Hello Ravi,

    I am looking for a property and i come to know about HBC(Home Buyers Combine) Punawale project. What is your opinion about this scheme. They are giving us 500 to 600 per sqft rate benefit. As i am a property buyer and not a investor, what should i do? How reliable is this? Please advise.