Ravi Karandeekar's Pune Real Estate Market News Blog: Paramount Eros, Gokulnagar Chowk, Katraj Kondhwa Road, Pune 411 046, Launched!

Interest Free Funds Wanted!

Sensing slowdown in Pune real estate market, on the occasion of auspicious Akshaya Tritiya, big and small builders in Pune launched the campaign of collecting interest free booking amount and 20% own contribution from the naive property buyers.

Thanks to all local newspapers for helping out the Pune builders by taking extra efforts to print color suppliments. In their thanks giving speech Pune builders say:

Without your help it would have been impossible to tempt the property buyers to shell out their hard earned money for the projects which haven't received all the necessary sanctions.

Thanks for the timely help to catch the property buyers before their eligibilty is reduced because of the double digit home loan interest rates.

Thanks for helping the builders to safeguard their investment in the land. Thanks for providing funds for the site development and constructing sample flat, and if possible, even the foundation and RCC structure!

Thanks for helping the builders to recruit the desparate property buyers who are willing to risk their life by offering interest free funds by investing in Pune real estate market.

Out of many builders in a hurry to collect the interestfree funds form the property buyers, i visited 3 projects this weekend.
1) Paramount Eros, 2 BHK & 3 BHK Flats at Gokulnagar Chowk, on Katraj Kondhwa Road, Pune 411 046
2) Alcon Signare, 2 BHK & 2.5 BHK Flats at Kondhwa Budruk, off NIBM Road, Pune 411 028
3) Karia Builders' Konark Meadows, 1 BHK, 2 BHK, & 3 BHK Flats in RMC Garden Compound, behind Moze College, Wagholi - Kharadi Annexe - on Nangar Road

Paramount Eros, 2 BHK 3 BHK Flats at Gokulnagar Chowk, next to Paramount Gardens, Katraj Kondhwa Road, Pune 411 046 Launch Ad - 1

Paramount Eros - Well lit homes - as well lit as Rohan Ishan Bavdahn - on Katraj Kondhwa Road!

Architects of Rohan Ishan at Bavdhan Budruk and Kushal Nivriti near Jyoti Restaurant at Kondhwa Gaothan Pune 411 048 - Mr. Sunil and Mrs. Shubhangi Hingmire of Hingmire Associates - Architects Landscape & Interior Designers - Savli Architects Pune 411 030

When you are in Paramount Eros Home, it doesn't really matter what washing soap you use for your cloths. Our homes will make everything look brighter.

Paramount Properties and Kalpavruksha Developers had all the right reasons to claim that Paramount Eros homes are as well lit as Rohan Ishan in Bavdhan Budruk Gram Panchayat.

Besides designed by the same architect, Savli - Hingmire & Associates, - one of the best architects of small size homes in Pune - the Paramount Eros has Pune Municipal Corporation and bore well water supply!

View Paramount Eros, 2 BHK & 3 BHK Flats, at Gokulnagar Chowk, next to Paramount Gardens, Katraj Kondhwa Road, Pune 411 046 in a larger map

Paramount Eros - Study minutely before you choose your flat:

Paramount Eros, 2 & 3 BHK Flats at Gokulnagar Chowk, on 'main' Katraj Kondhwa Road - hoarding at Katraj Depot, Satara Road, Pune

Welcome to Paramount Eros, 2 BHK & 3 BHK Flats at Gokulnagar Chowk, on Katraj Kondhwa Road, Pune

Paramount Eros at Gokulnagar Chowk on Katraj Kondhwa Road is one single stand alone building which is divided into 4 wings. The paid volunteer at the launch function told me that only 2 wings - A & B Wings - are available for booking. In this 2 level parking + 11 stories building, there are 2 BHK & 3 BHK Flats. The paid volunteer didn't know anything more than that.

Certainly, the sample flat at Paramount Eros was not ready. So, i collected the price list and xerox of floor plans and decided to talk to the guy from HDFC at the site. When i asked whether Paramount Eros is approved by HDFC, like any smart bank executive, he said that the builder has submitted the file and Paramount Eros will be approved in a couple of weeks time! About the home loan interest rate, the HDFC guy said that at this point of time he was calculating at the rate of 9.75 % but soon the rate would be 10.25%.

When i studied the floor plans, i found out a few interesting things about Paramount Eros. Since, there is no website of Paramount Eros, i can't show you the floor plans. So, in short, i can tell you only 3 things.
1) Study the floor plan minutely before the booking.
2) Decide how much more you can afford to pay for the terraces.
3) Decide how much important is it to book on the higher floor.

In the A Wing of Paramount Eros, smallest carpet area of the 2 BHK Flat is 630 sq.ft. and biggest is 656 sq.ft. But if you look at the room dimensions, you will find that width of the living of the big flat is only 3 inches more and width of the kitchen cum dining is only 2 inches more than the smaller flat. But, there is a huge difference in the property price! On the 2nd floor, all inclusive property price of the smaller 2 BHK Flat (630 carpet) is Rs. 35.79 lakhs and of the bigger 2 BHK Flat (656 carpet) is Rs. 37.35 lakhs. The same flats cost Rs. 37.71 & 39.37 on the 10th floor.

In case of the 3 BHK Flats (Actually 2.5 BHK Flats with 2 toilets and 3 bedrooms) in the A Wing of Paramount Eros, all room dimensions of the smallest 3 BHK Flat (808 sq.ft. Carpet area) and the biggest 3 BHK Flat (817 sq.ft. Carpet area) are same - at least i couldn't find any difference and i may be wrong - but their carpet areas were different. The same about the property prices. On the 1st floor these flats cost Rs. 45.71 & 44.17 Lakhs and on the 9th floor - Rs. 48.20 & 46.57 Lakhs.

Paramount Eros - No Fire NOC!

Paramount Eros, 2 BHK 3 BHK Flats at Gokulnagar Chowk, next to Paramount Gardens, Katraj Kondhwa Road, Pune 411 046 Launch Ad - 2

I was surprised to see that the B, C, & D Wings of the (2 level parking + 11 floors) Paramount Eros had only 1 staircase. As per the new development rule these buildings should have 2 staircases and 2 lifts.

So, i called the number given on the brochure (88050 63777). The sales executive told me that the Paramount Eros hasn't yet received the "Fire NOC". If PMC, insist they have left the provision for constructing additional staircase.

"Good example of Pune real estate locha! What a hurry to collect Peti and Khoka!," i said to myself.

Feel free to call me:

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5 comments:

rhnTuesday, May 10, 2011 at 2:07:00 PM GMT+5:30
A great initiative by Ravi to reach become even a better salesman through this Blog. I wonder how many people take him seriously.

:)
Ravi KarandeekarTuesday, May 10, 2011 at 2:17:00 PM GMT+5:30
Thanks for the complements, rhn(!)
Lingayat Marriage AdminTuesday, May 10, 2011 at 3:06:00 PM GMT+5:30
Hi Ravi

Thanks for your detailed research.Your thoughts infact give me new insights in dealing with property matters.

I visited Eros Paramount on 7th May 2010. Eros is indeed an example of the Pune real estate locha.

I visited it at 11 O clock in the morning and the builder said that 20-25 flats have been already booked ( remember its a pre-launch booking and 11 AM in the morning).

The building plan is very narrow and if you see the floor plans in details, the builder is trying hard to fit the 2BHKs in the small space.

The size of Living Room and terrace are almost the same, with living room too small and terrace being too big. A buyer will end up paying for living room and staying in terrace.

And most important thing to remember is that rates per sq.ft will rise by INR 25 with rise in each floor , right from the 2nd floor. I have seen builders charging extra for floors above 5th or 6th floor. But this one seems to be in much hurry.

The Katraj-Kondhwa is too crowdy with heavy vehicles and traffic jams all the time. Things may change one the flyover is complete.
UnknownSaturday, May 21, 2011 at 10:35:00 AM GMT+5:30
hi im intrested in ur schims but few probls... plz cl me 9764907050
OmkarSunday, March 10, 2013 at 10:55:00 AM GMT+5:30
Hello Ravi,

Paramount Eros site is good, but recently I visited the site and asked for 3 bhk flat , they said that u need to pay 90 percent as 90 percent of work is done but 10 per of work will be completed after 1-1.5 yrs. The 90 percent amount almost come to 70lac and 10 per to be paid after 1-1.5yrs is 10lac. So
what the use of paying 70 lac and wait for almost 1-1.5yrs for possession. If u calculate the interest rate that flat cost me more than 85. Instead I will go for ready possession flat becz I can shift immediately. ...

So can you please suggest any solution on this