Ravi Karandeekar's Pune Real Estate Market News Blog: NRIs, give a new lease of life to your real estate investment in Pune!

Is Kolte-Patil Life Republic better option than your old investment?:

Curious about the response on the first weekend after the launch, I visited Life Republic (www.liferepublic.in). Kolte-Patil Developers' Integrated 'Special' Township on Hinjewadi - Marunji - Kasarsai Road, Pune 411 057. Looking at the crowd, as huge as on the day of the launch, i realized that there are too many 'thinking minds' in Pune.

From the day of launch of Life Republic, i was feeling uncomfortable. Something unusual, abnormal and unexpected was happening in Pune real estate market.

Because of the recent incidents in Indian Republic, i can associate 'death' with the republic. Not life!

Every Indian knows, parliament is supreme. Here 'public' doesn't matter!

IT professional working in Hinjewadi don't have minds. They have brains!

Over the years, the main stream media, banks and builders have successfully programmed the property buyers in Pune. Now, they have lost their ability to think.

I was worried that these contradicting ideas will only confuse my dear Pune property buyers. And Life Republic, a community of thinking minds, may become one more big housing project in Pune.

Builders in Pune believe in brainwashing and hypnotizing. But, here, at Life Republic, everyone was busy in giving information! Including, Mr. Rajesh Patil! At the launch, I have seen the Chairman and Managing Director of Kolte-Patil Developers Ltd. attending property buyers - Sorry! counselling the thinking minds!!

While searching and waiting to meet Mr. Mahesh Saluja, V. P. Sales & Marketing, Kolte-Patil I-Ven Townships (Pune) Pvt. Ltd., i took a few photographs of the site visitors gathered around the model and stood chatting with the security guard. The only 'free' person in the entire site office of Life Republic.

Thanks to Airtel! I received a call on my mobile 919860044110. The caller, Mr. Shirish Shinde, who has come down from Mumbai wanted to consult me about investing in Pune real estate market. I told him where i was and requested him to come down. As it is, i was done with Life Republic (www.liferepublic.in). This weekend, and, mostly, next couple of weekends Life Republic would be as busy as the day of the launch. Now, i wanted to ask Mr. Mahesh only two things. Availability and property prices at Life Republic.

However, when we met, i asked Mr. Saluja - how many flats did he book on the launch! Looking at his face, i rephrased the question as 'request for information' - I need to share with my readers in my followup blog on Life Republic.

All 1 BHK Flats opened for booking - except a few on the higher floors - are almost over. Same with the 2 BHK Flats! However, because of more number of buildings, today, a good number of 2 BHK Flats are available, which may not last long.

Point is, for your readers good choice is available in 3 BHK Flats, Mahesh said. And added that if someone acts fast can get a Bungalow!

"Looks like thinking minds have fast fingers!," I said and asked about the property price increase.

"Ravi, don't you think that - for each visitor to Life Republic - we should give enough time to think? I believe in informed decisions. Not in pressure tactics. No hard sale at Life Republic..," Mahesh said.

"Good! It means that you are not going to increase the property prices...," i said.

"No! I haven't said that!! Launch property prices are going to go up....at the right time," Mahesh said.

Thanks to my reader, Mr. Shirish Shinde, who called to inform that he was waiting for me at the reception of Life Republic. I congratulated Mahesh for the successful launch of Life Republic and took his leave.

"I will come to the point. I want to invest in this project, Life Republic! Do you think that they will develop it as planned?," Mr. Shirish Shinde said.

"Why do you ask this question? Home buyers have too many questions. True real estate investor believes in future! True real estate investor believes in builder's each and every word! Are you investing in real estate for the first time?," i asked him.

"No! This is my second investment in Pune!! That's why i have a doubt!," Mr. Shirish said.

"Why? Last time - your builder didn't give you all as per his promise?," i asked.

"Yes! The builder gave all. But, I didn't get the D. P. Road and corporation water supply as builder had predicted!," Mr. Shinde said.

"Yes! But mayor or the commissioner of Pune Municipal Corporation hadn't promised you anything! Those were your builder's sweet dreams! Here at Life Republic, the builder is talking about what he is going to develop himself - in his own land - with your own money....Can't you see the difference between the two promises?," i said.

"Do you mean to say that my decision to sell my old investment property in Warje and invest in Life Republic is a right decision?," Mr. Shinde said.

"Wait! That wasn't your question. Your question was about the development of Life Republic! Please, tell me exactly what are you planning to do," i said.

Mr. Shirish Shinde told me his complete investment strategy. A couple of years ago, at the property rate of Rs.1,250, he had invested in a 2 BHK Flat in Warje. Today, at the current rate of around Rs. 4,000, he can get approximately Rs. 47 Lakhs for his flat.

Actually, before going to U S A, he has made one more investment. when the property rate was Rs. 2,850, Shishir booked a 2.5 BHK Flat in Nanded City Pune!

Since, he has come back from U S A, now, he was going to register the agreement of his flat in the Nanded City Pune. But, now, the Life Republic is launched.

Mr. Shinde found Life Republic more sophisticated than Nanded City Pune. But the price difference was huge. So, Shirish had one more look at his investment in Warje. Mr. Shinde realized that he has received optimum appreciation for his 2 BHK Flat in Warje. Now, it's time to renew his investment to maximize the appreciation. His old horse can't run the race anymore.

So, it would be wise to sale the flat in Warje and invest those funds, not in Nanded City Pune, but in Life Republic!

Life Republic looks more promising than Nanded City Pune. Only question was whether Kolte-Patil will develop it as planned. About Nanded City Pune, that was not a question. Because, they have developed Magarpatta. So, Mr. Shirish Shinde wanted my opinion.

"Sure, i will give my answer. But, only after you pay me consulting fees in cash!," I said.

Mr. Shirish took out his checkbook and signed the barer cheque. Keeping that cheque in the deep pocket of my bag, i asked him,"Assuming that Kolte-Patil will develop it as planned, will you like to sell your old flat and add some more funds to invest in a 3 BHK Flat in Life Republic? Are you sure that this is the time to renew your old investment?"

"Certainly! For the better appreciation you have to keep on renewing your investment! And, i am sure this new investment in Life Republic will give me better returns than my old investment flat in Warje!," Mr. Shinde said.

"Good! You know? Most of my NRI readers agreed about profit booking at the current high rates in Pune real estate market. But, majority of them, for the various reasons, wanted to remain invested in Pune. You gave me the idea for my next blog! Now, it's my turn to write a cheque!," i said.

What say you, dear NRIs and Investors, would you like to give a new lease of life to your real estate investment in Pune? Do you think that in the next ten years, your investment in Life Republic (www.liferepublic.in) will be able to appreciate more than your current investment in Baner and Aundh? Please, share your views in the comments. If your opinion is positive, Mr. Shishir Shinde would be the happiest man on this earth. He can en-cash my cheque!

View Life Republic - Kolte-Patil I-Ven Mrunji Hinjewadi Township in a larger map

Response to Kolte-Patil Life Republic, on the first weekend after the launch!

Response to Kolte-Patil Life Republic, on the first weekend after the launch!

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8 comments:

GajuMonday, December 19, 2011 at 8:16:00 PM GMT+5:30
I had been to see Kolte Patil's new township Life Republic near Hinjewadi. I liked the concept and found it very attractive deal considering quality,price and amenities. We are thinking of buying a 3bhk of 1520 sq ft flat in 4 avenues which would cost us around 63-64 lacs (3500/- per sq ft). We are re-evaluating the option considering below positive and negative points -
1. Location - though near from IT Park it is quite far from Pune city.Outside IT park , nothing available nearby , only village thugs live around .

2. It will take minimum 8-10 yrs to fully develop township so there is a initial struggle involved to manage day to day life like grocery,shops,entertainment,medical help etc

3. You only need to think abt one pt...3500rate/64L for the flat which will giv u comfort after 8-10 yrs ..if u r ok with that go with it...

4. Builder reputation is bad . In past projects , this builder has delayed forming society and giving back maintenance money collected to the society .

5. Price starts at 45 lacs in Hinjewadi . Is that a positive ?

6. It is better to live amongst people from different fields and walks of life . General observation is that IT people dont have the time and energy to help neighbours . In case you need medical/emergency help IT people would be the last that you can rely upon
SachMonday, December 19, 2011 at 8:19:00 PM GMT+5:30
Hi Ravi, I have been your reader for a long time and appreciate your efforts, inputs and especially the pictures of the sites you visited...it gives a real feel...thanks for that and coming back to Life Republic..I did invest in this property a 4 BHK Twin Bungalow and must say that it is the best investment..I have been searching for a bungalow property for a long time and this suits the bill...the rate is competetive..I know it will only go up...so I will suggest property buyers go ahead and book in this project or else you will regret in couple of years..due to either rate being increased/not having better selection/no selection at all (I am being very optimistic..but i truely feel don't miss the opportunity).....also I was told at the time of launch Mrs Birla (senior) visited the property and was there for 6 hrs...so you can guess..what it would be in the future :-) ...anyway I am happy that i invested in this project...good luck to you all...
GajuMonday, December 19, 2011 at 8:20:00 PM GMT+5:30
Please read this thread before any one buy property at Kolte Patil...

http://www.mouthshut.com/product-reviews/Kolte-Patil-Developers-Pune-reviews-925097179
PritiMonday, December 19, 2011 at 8:31:00 PM GMT+5:30
Its a good idea to invest in Hinjewadi...I see potential in it. I would not sell my property at Baner or Aundh...definately not! But shall invest in a project at Hinjewadi as well...being an NRI, I don't worry about the 3-4 (or more) years possession, infact it lets me pay installments without taking a loan and delays the maintanence and other costs but keeps increasing the real estate value as the area around it grows. For an NRI, the most important thing is a trusted builder, seriously, thats why we put our money at any Paranjape project that comes up, we can't be around to check on the development and we have several references who have invested and are living in their projects who have only good things to say about the builder. I know Ravi dislikes them but Paranjape rules! :)
SachMonday, December 19, 2011 at 8:39:00 PM GMT+5:30
Gaju...looks like you are a true reader of Indian Real Estate Forum...well I am too following most of the real estate forums...and I also believe that we should do study/analysis of the builder/location etc...but don't you think 4 bad reviews out of hundreds or thousands of residents signify anything? ...there will always be some unsatisfied people no matter what u give them...anyway it is your investment and your decision..good luck...
GajuMonday, December 19, 2011 at 8:39:00 PM GMT+5:30
Priti.. Please read some of the review about Kolte Patil'''

http://www.mouthshut.com/product-reviews/Kolte-Patil-Developers-Pune-reviews-925097179
prakashsankaranMonday, December 19, 2011 at 10:10:00 PM GMT+5:30
Still wondering why an invester (unless he/she will book profit by selling immediately after getting posession) will invest in townshits like this. Unless you want to live in that kind of global village why would you want a property like that in your portfolio.
the disadvantage of buying in hope of reselling immediately is there are 10 (or even 100 others) thinking of the same idea and you are one in 10 or 100 where it becomes buyer's market.
if you are planning for rental income (I do always) why would you want to buy with high maintanence society. These societies havent advertised the cost of maintanence and if somebody come up with a number it will be great. Tell you what maintaining private roads, street lights, green space, amenities doesnt come free. you are going to pay for it. How much? and why? for a rental property.
more adding to the woes the rental market is again will be competed by other 100 landlords so its again bargain market and you are not going to get premium if you have all the facilities near you. (well you expect all the facilities near you and hope not to pay for that).
For that reason I will invest in a minimum maintanence fee buy to rent property.
If I want to live there at life(or blue ridge... not megapolis... never) I would consider buying. remember the first few years are going to be real struggle but when you live there you will get the happiness of a new thing coming up every year (childishness... but we all need that bit of life)
a bit of advice for shishir is not to go for profit booking if you are planning to comeback and settle.
and a question to shishir is can you buy a piece near laxmi road today (or infact upto kothrud). imagine in 10 years about warje.
I would rather go for a fringe flats appearing around the life township. enjoying the developments but not paying the costs (oops I opened the pandora box)
vivekSunday, January 29, 2012 at 5:59:00 AM GMT+5:30
Go Blue Ridge Go..

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