Buying a ready possession flat is the only right way to buy!
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You always tell me how my Ravi Karandeekar's Pune Real Estate Market News Blog helps you to buy a suitable property. Today, i am going to tell you how my blog is helping me. How your comments on my blog, your calls on my mobile 919860044110 and your emails to RaviKarandeekarsBlogs@GMail.Com are changing my views about buying a property in Pune real estate market.
Possessed!
For example, last Saturday, on 23rd July 2011, for the first time, since i started writing Ravi Karandeekar's Pune Real Estate Market News Blog, i didn't attend the launch of my favorite builders' new projects. I didn't visit Mont Vert Vesta at Urawade Pune 412 108. I didn't visit Sobha Garnet at Kondhwa Pune 411 048.
You know what? I didn't go to Urawade & Kondhwa because, on Saturday, I was glued to my desk. I could write, read, listen, answer the calls and chat. But, I couldn't get up and go out!
"Let me have a cup of tea!," i said to myself and gathered courage to get up. Yes, i could go to the kitchen and make a cup of tea!
After a cup of tea, I tried, but, could not take a step towards the main door. So, i sat down. Worrying whether i could walk up to the toilet!
I remained at my desk the whole day. Till Abhay freed me.
Unholy Thoughts:
By noon, someone called me to talk about Neo City Wagholi. The caller asked me, "Mr. Ravi Karandeekar, what should i do? 7 months ago i invested in Neo City. But the project hasn't yet received N. A. Now, the builder is after me for my 20% own contribution. Should i give it or cancel the booking?"
"Is there any other option for you?," i asked him.
"Yes! I will give my 20 % own contribution on the day Neo City receives N. A.!!," the caller said.
"Sounds reasonable to me!," i said.
"But the builder is not ready. He says give or cancel!," the caller said.
On hearing this i started crying. The caller asked me, "Why are you crying?"
"I am crying for you! Who put you in this situation?," i asked.
"The builder!," the caller said.
"Look! How weak and miserable you are!! I am feeling very sorry for you!!!," i said and continued crying.
"No! I am not weak and miserable. I am smart and intelligent. I just made a small mistake," the caller said.
"Really! What mistake?," i asked.
"Booking a flat at the launch stage!," the caller said.
"OK. Then - What is right?," i asked.
"Buying a ready possession property!," the caller said.
"Buying Ready Possession Flat! I know who you are and what is happening with me!! You are an evil spirit. You have possessed me. You don't want me to blog about the huge response to the launch of goldmine at Urawade. Now, you are trying to pollute my mind. You are trying to plant an unholy idea in my mind about buying a property! But, remember, you evil spirit, you will never succeed!," i said and ended the call.
The Devil's Disciple:
By chatting on Google Talk for more than an hour, Abhay irritated me like anything. But, at last, he freed me!
Abhay started innocently. "Should i book a 2 BHK Flat in KUL Ecoloch at Mahalunge?," Abhay asked me.
"Can we talk about KUL Ecoloch when it's ready for possession?," i asked him but he refused.
"I am planning to book tomorrow!," Abhay said and insisted on discussing.
"But i can talk about KUL Ecoloch only when it will receive a completion certificate!," i said.
"Why?," Abhay asked.
"Because, I find it difficult to talk about some projects when they are under construction!," i said.
"And it's difficult for me to decide!! I want you tell me whether my decision is right or wrong," Abhay said.
"Don't you think that it would be easy for you to take a right decision if the project is ready for possession?," i asked.
"Yes! 99% i will be right if the project is ready for possession!!," Abhay said.
"That's the reason we should talk about some projects when they are ready for possession! Most of the projects in Pune real estate market are not safe to book when they are at the pre-launch stage, launch stage or at the under construction stage!," i said.
"Do you mean to say that buying a ready possession is the only right way to buy a property?," Abhay said.
"You said it! Buying a ready possession flat is the only right way to buy!!," i said and ended the call. Got up. Opened the main door. Walked out of my home. Free!
Evil Fantasy:
As i came out of my home, I stared banging my neighbor's door.
"Grow up, Ravi! Learn to ring the bell," my neighbor shouted.
"Save me! Let me in, please!!," i shouted back.
"You are ravaged! What happened? What would you like to have? Tea, coffee or a cold drink?," letting me in, my neighbor asked.
"Nothing! Can i sleep on your couch?," i asked.
"What's wrong with you? Why are you asking my permission?," my neighbor asked.
"Because, i am changed. I am not the one you know. Now, i have become devil's advocate," i said and laying down on a couch i told my neighbor how evil forces have taken the possession of my mind n' body and how they want me to pollute innocent Pune property buyers' mind and promote the idea of buying only ready possession property.
"Don't worry! It's was a bad day dream. Take a power nap and we will go shopping! Look at these cuttings....40% to 70% off on all leading brands!," my neighbor said and started showing clippings of the discount sale.
"Ravi, can we see Pune builders offering discounts like these....40% Off....70% Off....if the property buyers decide to book only ready for possession properties?," my neighbor asked me.
"Compare to other consumable products, you know, profit margin in real estate business is very low....," i couldn't complete my sentence. My neighbor's devilish gaze stopped me.
Guys, your souls are pure. You are free to imagine. Can you see the builders cutting property prices and offering discounts if you all decide to 'stop booking' and 'start buying ready possession properties'? Can we see this type of flat discount offers? What say you?
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| 40% Off |
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| Sale Ka Baap |
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| Sale up to 60% Off |
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| Up to 70 % Off |
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| 16 % to 66 % Off |
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| 50 % Off |
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| Up To 50 % Off |
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| Up To 50 % Off Sale |
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| Flat 60 % Sweet Sixty Off |
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| Sale 50 % |
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| Sale flat 40% Off |
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| End of Season Sale Up To 40% Off* |
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| Happiness Sale Up To 61 % Off |
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| Sale Flat 40 % Off* |
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| Up Tp 50 % Off |
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| Up To 50 %* Off |
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| Flat 40 % Off |
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| Flat 40 % Off* |
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| sale |
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| Sale |
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| Sale Up To 40 % Off |
Related Stories:
1) TUESDAY, JUNE 21, 2011
Property Rates in Pune Real Estate Market Going Down?
2) MONDAY, JUNE 13, 2011
Is Pune real estate market about to crash?
100 % agree with the idea..Infact implementing the same.....About to buy a new flat whoes construction is done almost 95 % ..(Project name : Eisha Erica Dhayari.)
ReplyDeletehello mahavir,
Deleteas you have mentioned that you had bought a new flat in Eisha Erica Dhayari, wanted to know the reputation of the builder and other details as we are also considering buying a resale flat in the same project.
any inputs will be useful.
thanks
I am neutral on this idea... not all builders do this... some of them do the business very straight and professionally.
ReplyDeleteHowever its good to have this idea in place but I believe it will only work for prime locations.
e.g. if some builder plans to build the homes in model colony and will only sell apartments after 95% completion, its 100% guarantee that all of them will get sold in days or weeks; but if we look for masses who cant afford to have such prime locations can only go with good faith on builders and have to take risks.
Congrats, Mahavir!
ReplyDeleteWell said, Deepak! Those who have less money deserve to risk their lives. Because, as it is their lives have less value than the rich. Right?
ReplyDeleteThank you sir... and i have different opinion here... again :) as some rich ppl don't use their money effectively and just buy the properties for what reason... dont know :(
ReplyDeleteand i have seen some poor ppl also, who cheats builders or 2nd buyers... my friend had suffered from this and lost 1-2 lacs in 2008 in Katraj area.
conclusion, one should have strong study of market / builders / areas and off-course very importantly good advisers like you. I wont mind paying you a consultation fees before buying any property anywhere in Pune :) thats what i will call a pure and safe business for white collars.
I like all your blog entries... all the best and keep it up sir
In sakal newspaper, there was a news which says that as per new government rule, NA is not required for construction within the premises of Mahanagarpalikas.
ReplyDeleteLike to know your views on effect of this.
It's recycled news. Good read!
ReplyDeletehi Ravi,
ReplyDeletewhat does this news meant for those having flats in agricultu n gunthewari area like pimple gurav?can u plz suggest thansk
News about N.A. is about a permission for new construction. Not about already constructed unauthorized & illegal construction in 'Gunthewari'!
ReplyDeleteHi Ravi
ReplyDeleteI like your blog. Need to know if this is the right time to buy property in Pune. What i mean, is there any hope of price corrections in near future or the price will keep on growing.
Regards
Manish.
Dear Manish, hoping is not enough.
ReplyDeleteRefusing to pay the current rates will bring the property prices in Pune real estate market down.
Correction is not enough. What is required is "rationalization of the property rates."
If you question the very basis of the property prices - infrastructure - and tell the builder to get the things done from PMC/PCMC and come back to you when the property is ready with all basic infra - property prices will be rationalized.
Insist on 'performance & product' not on a 'promise of possession', ' development plan' & 'builder's day dream'.
Hi Ravi,
ReplyDeleteI am interested in buying a property near airport, viman nagar, kalyani nagar.
I need an opinion about the so called premium and luxury upcoming projecs in Kharadi. To only name a few "Yin and Yang", "Mio Pallazo", Kumar's Kul and 2-3 more. These are so mouth watering with the ulta stylish sample flats, aminities offered and the specifications like italian kitchens,AC ducted homes, 1300 plus area, wooden floorings, Atirium halls and many many more attractions. With all this they are asking a bombastic price of 4000-4500 rs per sq ft making the unit range to 55 - 85 lakhs. Knowing you after reading your blogs, I know you would be re-routing this to me asking "What I want is important"? :). But, here the real question I am asking to you is are these properties worth investing this amount COMPARITIVELY, when there are other good options in the near by areas such as Wagholi and Dhanorie. Apart from your opinion on this, I also have 2 specific questions:
1. Will the price @ Kharadi goto 6000 rs per sq ft in 2-3 years from now? ( Like it happened to Viman nagar and Kalayani Nagar because of their proxing=mity to KP and Airport)
3. Having EON near by and considering these as furnished apartments, whats the rent I should expect If I am not staying in here after posession?
What will happen if one or two person refuses to buy property at such high rates...Now you would say that what will happen if everyone thinks like this..each person's effort makes a difference...Agreed... but it is not working as 99% people are still buying property at such high rates.
ReplyDeleteIsn't it a right time to have a governing body like IRDA, SEBI for real estate market too... influential people like you can start the movement...
The real estate prices are increasing at the rate more than the loan rate that is available in the market. It may be debated if prices are increasing because of raw material cost or speculative increase by builder lobby. When the loan rate will go beyond rate of price increase, people will not buy upfront, they will wait as much as possible. On top of it govt gives tax break to lower even effective loan rate.
ReplyDeleteFor example I want to buy a just launched property at Rs 20 Lakh and buy a loan of 15. Assume the rate of property is increasing at 20% and loan is available at 10% for simpler calculations. The price of the property in 2 years (at completion) will be 28 Lakhs. Keeping my own contribution same, if I plan to buy the same property, I have to avail the loan of 23 Lakhs instead of 15. So its cheaper to buy property upfront and pay 10% interest. You will anyway receive 1 lakh in tax break
The only point of discussion can be what is the avg rate of increase of prices in pune region.
Hello Manish!
ReplyDelete# " but it is not working as 99% people are still buying property at such high rates."
Generally, out of 1,000 site visitors not even 10 book a flat.
Out of that 25% are "investors" who want to dump their funds without bothering much about returns.
So, point is, not 99% are buying. Or
99% are not buying at the current rates!
Dear Deo,
ReplyDelete# The only point of discussion can be what is the avg rate of increase of prices in pune region.
Sorry, Deo. I am for the rationalization of the property prices in Pune real estate market!
Hi Ravi,
ReplyDeleteCan you please mention rationalized price (from your point of view) for Kharadi and Hinjewadi?
Also, though you are against of under-construction properties, you hold favorable view for some of them, for example Megapolis. Why so?
Saturday, August 20, 2011 11:47:49 AM GMT+05:30
Hello Ajay!
ReplyDeleteI don't subscribe to the idea that an area has a rate. I know that all projects in the same area don't have / are not worth paying the same rate.
"Buying ready possession is the only solution to rationalize real estate development business" is recent realization.
However, when i look back at Megapolis Smart Homes 1 & 2, i feel that a few projects might be worth booking at an under construction or at a launch stage!
If you want to know why, please, visit:
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?
Dear Ravi,
ReplyDeleteI completely agree with your view about:
1. real estate rates need a rationalization;
2. that only ready possession properties are worth considering for purchase.
Extending the logic of point no.2 above, is it not wise to purchase re-sale properties? This way the teething problems of new buildings can also be overcome.
Hi Ravi,
ReplyDeleteI booked a flat in Supreme Estado, Baner
Do you think its a good purchase and is Baner one of the best areas to live.
Like to know what you think
Thanks
Hi Alpna,
DeleteHave you gotten possession yet of the flat you booked at Supreme Estado in 2011? Please share your your experience. Thanks!!
This comment has been removed by the author.
DeleteCertainly, good for the builder, Alpana!
ReplyDeleteYou have to work to make this part of Baner worth living. Anyways, you have to do that in any part of Baner. Even near Pancard Club.
Hi,
ReplyDeleteWhats your opinion on Group Buying websites like www.groupbookings.in
Do they really help in group buying and saving money?
These group booking website help the builders to get more number of bookings in less efforts and at a less cost.
DeleteSir,
ReplyDeleteDP AFFECTED LANDS ? WHAT ARE BENEFITS / COMPENSATION ?
Only C M knows!
ReplyDeleteSir,
ReplyDeleteWhat are the problems to purchase gunthewari flat.
thank
bandu
Bandhu, it's illegal.
DeleteRavi,
ReplyDeleteI am thinking of booking a flat at Kasturi EON in hinjewadi as they are known for premium homes. However, the problem is its in Hinjawadi Phase 3 with nothing around in terms of hospital, daily needs,entertainment etc.
But I really like the overall setup with hilly backdrop and wide/clean roads.
Kindly suggest..
Thanks, Kamal
Are you working in Hinjewadi, Kamal?
DeleteRavi,
ReplyDeleteI totally agree with you on ready possession flats option, but there are some good builders who had good records (got some names from your blog only)
Eg - Kasturi Housing (Bharatbhai)
Shri Venkatesh Group
So shall we consider EON Homes to book apartments as Investment which are half way through just becaz of good reputation of builder. Still it has risk involved. What is your point of view of such cases.
This comment has been removed by the author.
ReplyDeleteHi Ravi,
ReplyDeleteI agree with your opinion on considering ready possession flats option. Having said that the price difference for the property at launch/mid construction and ready possession also plays an important role in making the decision.
It also makes a considerable difference in loan amounts (indirectly the interest that you end up paying for the entire tenure) considering that you book the apartment around 2yrs in advance and this is something that matters a lot for people like me who have a bit smaller budget suiting to the requirement.
Again I may be wrong but just wanted to share my opinion.
Also I have a question regarding a specific project:
Arcvista - by Mittal Brothers and Kusmade brothers.
It is in under construction stage right now - possessionby 2014.
You have mentioned few builders/projects in your blogs which can be considered to go for in under construction stage.
Do you have any comments/suggestion for this particular project?
Thanks in advance for your guidance and I also want to appreciate the help, support and knowledge that you provide to people via your blogs.
No. No comments on Arcvista.
Deleteplease share ur views. need help on arcvista.
Deletecan you share your view in 'buyerisbuilder' they are selling flats in dhanori and other area at very cheap rate?
ReplyDeletecan we go for it?