Today, on 12th of April 2012, only 2 BHK Flats are available in Gera's Park View 1.
Carpet areas of the 2 BHK Flats are from 825 to 850 sq.ft.
All inclusive property price of a 2 BHK Flat of 825 Carpet is approximately Rs. 53 Lakhs
and a 2 BHK Flat of 850 Carpet goes for approx Rs. 55 Lakhs.
Gera Developments offers 5 years warranty for their properties.
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| Kharadi Hadapsar Bypass on Nagar Road - Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
Pre-Launch Offer of Gera's Park View 1 in December 2008 - An Uninspiring Story!
This weekend, at last, Gera Developments (www.gera.in) launched Gera's Park View 1 at Kharadi, Pune 411 014. Gera's Park View 1 is the third phase of Gera's Emerald City, adjoining EON IT Park at Kharadi.
The launch ad labeled 1 BHK & 2 BHK Flats in Gera's Park View 1 as - "competitively priced premium properties". Certainly, as usual there were couple of * (stars)in the launch ad. One (*) on the "Special Launch Offer". Second (*) on "Modular Kitchen with a hub & chimney". Third (*), obviously, said that T & C (Terms & Conditions) Apply. You know what was the fourth (*)? ADF Facility Also Available (!).
The launch ad didn't mention 2 things. One, EON IT Park. Two, more than 3 years delay for launching Gera's Park View 1.
Anyways, Pune property buyers give least importance to delayed possession and delayed launch. But for the sake of Pune Builders, I thought that Gera Developments should have taken the credit for the maximum delayed launch. This would have inspired many Pune builders to break the record of Gera's Park View 1 - Pre-launch offer in December 2008 and launch in April 2012!
When i gave a second thought, i realized that delayed launch of Gera's Park View 1 would have failed to inspire Pune builders! Because, in 2008, Gera Developments had only accepted the cheques of booking amount. Gera didn't deposit those cheques. Gera neither used the property buyers booking amount. Nor blackmailed the property buyers to give their own contribution. Instead of that, when Gera Developments realized that the launch of Gera's Park View 1 will be delayed, they returned the original cheques to the property buyers! How uninspiring!
From Compact, Affordable & Happy-sized Homes in 2008 to 1 BHK & 2 BHK Slots in 2012 - Interesting Transformation of Gera's Park View 1:
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| 2008 - 1 BHK - 598 Saleable - Rs. 17,53,170 (1st Floor) to 18,15,659 (11th Floor) - Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2008 - 2 BHK Flat - 993 Saleable - Rs. 28,75,272 (1st Floor) to 29,80,465 (11th Floor) - Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
Curious to know whether the plans of Gera's Park View 1 are the same as they were in 2008, I visited www.gera.in - the website of Gera Developments. Yes, the floor plans of 1 BHK Flat & 2 BHK Flats were quite different! The current 1 BHK & 2 BHK Flats are neither "homes". Nor typical flats. There is no kitchen. There is only one hall - a slot - in which you can cook, eat & sit. Every slot comes with either one bedroom or two bedrooms. 23 feet x 12 feet slot with 1 bed room of 10 feet x 10 feet 9 inches. 26 feet 9 inches x 12 feet slot with 2 bedrooms of approx (10' x 12' & 10' x 11') or (10' x 13' & 10' x 12') - Interesting! Isn't it?
This change reflects the life style of property buyers of 2012. No one wants a home anymore. What all one needs is a place to rest after the job. Buying decision is based on the connectivity, saleable area and EMI. Plain & impersonal - like blue jeans - easy to sell & buy when you change the job. So, what is the point in creative planning? Thorough market research must have convinced the Gera Developments.
That's why they altered the old plan of 2008.
Removed kitchen.
Cancelled the private entrance pathway which was useful for drawing rangoli and lighting diyas in Diwali.
Cancelled the split levels in the 2 BHK Flats.
Cancelled 10 feet 4 inches x 2 feet 6 inches loft - 4 feet above the floor - till ceiling - in the 2 BHK Flats on Even Floors - which you could have transformed into built-in cupboards or a cute bunk bed for your baby.
At the same time, removed the compact 5’ x 5’ space - with 12 feet height in the 2 BHK Flats on Odd Floors
- which you could have used as a place for “pooja”.
However, they didn't change the separate W C & Bath in the 1 BHK Flats
- or dry the balcony in the 2 BHK Flats.
Now, a home is out and a slot is in!
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| 1 BHK Flat 682.17 Saleable on Even Floors Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1032.40 Saleable on Even Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1037.25 Saleable on Odd Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1051.24 Saleable on Even Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1054.33 Saleable on Odd Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1058.91 Saleable on Even Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| 2 BHK Flat 1062.95 Saleabe on Odd Floors - Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
Expected Appreciation of Gera's Park View 1, EON IT Park, Kharadi, Pune 411014:
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| Road to EON IT Park - Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| Tar Road, Street Lights, Divider, Plantation & Pavement! - Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
View EON IT PARK - Kharadi in a larger map
Instead of wasting energy in guessing - What would be the property prices of 1 BHK & 2 BHK Slots in Gera's Park View 1 - I was walking on EON IT Park Tar Road. Admiring landscape, pavement & street lights. In fact, i was almost overwhelmed with this huge development and the construction progress of EON IT Park. What progress! 45 acre EON IT Park - sanctioned in September 2006 - may be completely ready in the next 1 or 2 years! What a historic moment it would be!!
"Ravi Karandeekar, what are the prospects of development of Kharadi?," the caller asked me.
"Only God & Times of India knows! But, why are you asking?," i said.
"An hour ago - i booked a 2 BHK Flat in Gera's Park View 1 for 52 Lakhs!," my reader said.
"Congratulations! You are a rich man - living in a poor and backward country!," I said.
"I am not rich! I sold my 2 studio apartments in Amanora and invested that money in Park View 1," the caller said.
"Interesting! You withdraw from the planned 400 acres development owned by one and ask me the prospects of 400 acres owned by 10 builders who will only build nothing but the buildings!! Do you know that Pune, State & National Governments are bankrupt - financially & politically?," i asked.
"I know. I live in Mumbai. I read newspapers. I am not interested in your political opinion - tell me about the development of Kharadi," my reader said.
"You tell me why did you invest in Kharadi!," i asked.
"Gera is good. Location of Park View 1 - is strategic - as if it's 'town center' of Kharadi. EON will give me good rental income. From Gera to Marval & Panchshil all have big sized premium projects on the road which connects Nagar Road & Keshavnagar Mundhwa - beyond river - it's called Billionaire's Boulevard! Geras are developing Club - SEZ - Medical City - and upmarket Trinity Towers. Lots of developments are planned - question is in how many years - your guess!," my reader said.
"What will you do if i said more time than your expectations?," i asked.
"If i cancel in the next 7 days - Gera will return all my money - no cancellation charges!," my reader said.
"Gera is great! Are you looking for short term investment like your last one?," i asked.
"No. This time 5 - 6 years! Like my first one in Magarpatta - long term," my reader said.
"Good! Start counting 5 - 6 years after your 2 BHK gets the completion certificate!! Till then consider your investment as social work of providing cheap rental housing - of course - if you would have done this with your investment in Amanora - those 5 - 6 years would have come early!," i said.
"There is a huge difference between a studio apartment and a flat! And Kharadi is more popular! By the time of possession - in the next 2 & half years - the rates in Kharadi will touch 6,000," my reader said.
"If i had been working as a salesman - by tomorrow morning - rates of Kharadi would have crossed 6,000!," i said.
"Why? Because I know how to type & make xerox copies of property price list!," i said.
"Good sense of humor!," my reader said and disconnected.
Young & Restless IT Professionals of Kharadi at Gera's Park View 1:
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| Gera's Emerald City (South) - Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 - Emerald City (North) 2 |
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| Site of Gera's Park View 1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| Entrance of a launch event - Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
When I reached Gera's Emerald City (South), venue of the launch event, I saw 2 friends discussing at the temporary parking in the 4 acre plot given to PMC for Garden & Play Ground. Over looking this garden is the USP of Gera's Park View 1!
"Booked?," i asked them.
"No. Not yet. Not in our budget. 40 lakhs for a 1 BHK & 55 Lakhs for 2!," one of them said.
"Aren't you working in IT?," i asked.
"Yes. We are. In EON IT Park," one of them said.
"Got the job a few months ago?," i asked.
"No. Over 4 years . My package is 5 lakhs. Not much. Can't afford even 40 lakh's 1 BHK," the other said.
"40 for a 1 BHK & 2 BHK for 55 Lakhs was a shock for me! Didn't expect so much rate," the first said.
"Property price is not an issue. Problem is you are living in the past. You know? This is 2012. Not 2004 - 2005," I said.
"In 2004 - we were in college!," one of them said.
"True. But, today, if you had been living in 2012 - you would not have thought of buying a home. Look at this builder - Gera's SEZ was sanctioned in those old days - but he has given up the idea - because, these builders know that those days are over - look at this road - it's not even a tar road - those who live in that Gera's Emerald City North are using it for nearly 2 years! It's not about money - it's about living in 'now'! Hallucinations of prosperity are over - once again we have become a poor country. If you don't come to terms with reality - builders & bankers are waiting to eat you alive at Wagholi!" i said.
"Buying home is a crime or what?," the other said.
"No!, but craving for a fake ownership is. Living in debt is. In 1800 it was Opium - now, it's EMI - you can't live without it!," I said and took leave.
Cafe Booking Day at Gera's Park View 1, EON IT Park, Kharadi, Pune:
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| Meeting sales staff of Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
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| Good response to the launch of Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 |
It was Sunday evening. The evening of the first IPL match in Pune. But there were a small crowd at the launch venue of Gera's Park View 1.
The event was well organized. It was on the podium of one wing of Gera's Emerald Park (South). In other wings property buyers were staying. Newly completed project was looking like freshly cut water melon.
The contact form was well written, designed & printed. Successfully creating an impression that your visit is important to the builder.
Visit to the show flat of Gera's Emerald City was assuring & reminding that Gera is a good builder.
After a visit to the show flat - the next stop was - Cafe Coffee Day. CCD was serving lemon tea and wet napkins.
View of more than ten tables where visitors were seriously discussing with the sales staff of Gera Developments was increasing my blood pressure.
At regular short intervals someone was booking a flat. He was given a sapling of Tulsi - in a paper bag. All present at the venue were clapping for him.
It was a nerve breaking experience. Everyone from Gera Developments was serious and polite.
No visitor was casual, angry or sarcastic. I was expecting that at least someone will cry - What? 1 BHK for 40? 2 BHK for 55 Lakhs! But no. I didn't hear a single cry. Seriousness became unbearable, so I left the venue.
Why Gera's Park View 1, Kharadi, Pune 411 014:
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| Visit Gera's Park View1, 1 BHK & 2 BHK Flats at Gera's Emerald City, near EON IT Park, Kharadi, Pune 411014 - Hoarding & EON IT Park |
1) To find out the reasons for the huge response to Gera's Park View 1 at Kharadi, i called Mr. Pankaj Sampat, leading real estate consultant in East Pune.
There isn't anything unusual - unexpected about it. It was bound to happen. Take my word - soon, Kharadi - will take the place of Kalyaninagar. Gera is the most respected and trusted builder in Pune. Anyone would be happy to pay a little premium to Gera.
Instead of buying 20 year old 1 BHK for 40 - 45 Lakhs in VimanNagar or Kalyaninagar - paying the same amount to Gera's Park View 1 - is any time a better deal. Same about a 2 BHK Flat. Where can you get a 2 BHK in 50 - 55 lakhs? Nowhere but at Gera's Park View 1.
2) Shrikant, one of my readers who on the day of the lunch booked a 2 BHK Flat in Gera's Park View 1 at Kharadi is in dilemma.
"In the same budget - 50 lakhs - i am getting a 3 BHK Flat in Dhanori. What should i do?," he asked.
"It's easy - if you need 3 bedrooms - go to Dhanori!," i said.
"Would it be wise in the long run? Kharadi is a prime area. This is once in a life time opportunity!," he said.
"What is more important to you? Space inside your home - or outside your home?," i asked.
"Both! That's the problem!!," he said.
Guys, can you help Shrikant?
Contact for Gera's Park View 1, EON IT Park, Kharadi, Pune 411 014:
020 30 57 04 42 / info@gera.in / www.gera.in
Related Stories:
1) SUNDAY, APRIL 1, 2012
Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs in the First Quarter of 2012
2) SUNDAY, APRIL 1, 2012
March 2012: Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs
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I recently came across your blog and found it to be very informative and useful. I read in today's newspaper about new rules coming in force to help buyers against builders' malpractices. There was another article about the govt. taking action against illegal constructions around Pune, such as Ambegaon, Manjari, Nanded etc. Do you think these things will really benefit the buyers or these are just temporary steps, which people will forget in some time?
ReplyDelete23*12 it means 276 sq ft area can be used creatively. According to requirement and creativity we can do internal partitions. Good one but we will need to spend some money.
ReplyDeletereal estate is kind of crazy in blore. with home loan rates increasing and infrastructure kribbling, i really dont understand how people are non stop booking their apt ?
ReplyDeleteHomes for Sale in Yakima Washington
For 55 lack flat one needs to pay approximately 15 lack (30%) downpayment within one month period or at the time of registeration. Also if you take loan of 40 lack then EMI would be more than 40K per month. I can't understand how these builders are getting such response in every launch of projects.
ReplyDeleteAnd interesting thing is once you got possession your EMI will be increased by atleast 3 to 4 K (1500 Rs Society Maintanance + 500 Rs Water tanker for domestic water for summer + 500 Rs safe drinking water + 500 Rs property tax).....
God knows buyers are seriously thinking while booking or just running behind dream!!!
Patel, DINK couples take combined loans and pay EMIs through their combined incomes.
DeleteMr. Ravi,
ReplyDeleteYou forgot to mention one important thing, The PMC is building a Bio gas plant in the garden area which is in front of Park View, Now sure did Gera told you about it during launching day, anyone can visit the site and confirm themselves.
Thanks
Oh so are these really "Bio Gas Plant View" homes?
Deleteyes PMC is coming with BIOGAS plant in the so called garden, pls consider this before booking any flat there, infact resident of near by societies are planning to protest against it - but not sure if they will succeed.
DeleteThis is really a great thought and it is also a good plan as well.
ReplyDeleteHa Ha Ha , You are serious? Th plan for the flats are good? This is a chawl!Only you have individual bathroomsdLiving com dining cum kitchen!
DeleteHello Sir,
ReplyDeleteThanks for sharing the experience. Must apprecitae your great sense of humor and essentially appreciated the question""What is more important to you? Space inside your home - or outside your home?," i asked.".It gives an insight to the psych of the new generation's short sightedness and willingness to compromise on the terms dictated by the "Times of India".
Would like to call you ?
Usually what time is good for you?
Thanks
Fan
This comment has been removed by the author.
ReplyDeleteDear Ravi
ReplyDeleteI enjoy reading your blog posts and opinions. Thank you for your insights. On an average, builders in Pune take at least 4 odd years for the project completion. I guess builders’ actual cost is perhaps covered by the sheer interest earned on initial payment by the buyers. When banks get in the picture perhaps, the builders make money lot more as they might be getting paid upfront by the banks. And now banks are milking the buyers.
I feel kinda sad for today’s youth who will earn his entire life just to pay for a) housing b) car c) children’s education 4) mall lifestyle…
As long as people think only in terms of EMI, ppl will keep on buying. Forget about the big picture. As you rightly said in 1800 it was opium and now it is EMI.
I think Gera is doing quite a great job in building these compact 1&2 bed homes. Across in kharadi majority of builders are providing sizes of 1250-1400 square feet 2 beds and there are virtually no 1 beds available in the market. The reason is quite clear, cost of construction is less for huge sized homes via a vis compact homes and hence builders build large sized homes which makes the property dearer to buyers. In a 2 building project like Park View there is no scope for economies of scale like What Amanora has. I guess it's quite a thoughtful construction wrt the need of first home buyers. It's respectable. Undoubtedly kharadi is quite a futuristic area and incremental appreciation will be quite high in this place. The IT centralisation in this area is the biggest bet for investors and builders. Further there is also commercial planned in the project which is a big plus due to quite less number of shops for household needs etc in the vicinity. I would strongly recommend this project, have taken a 2 bed myself!
ReplyDeleteI think Gera is doing quite a great job in building these compact 1&2 bed homes. Across in kharadi majority of builders are providing sizes of 1250-1400 square feet 2 beds and there are virtually no 1 beds available in the market. The reason is quite clear, cost of construction is less for huge sized homes via a vis compact homes and hence builders build large sized homes which makes the property dearer to buyers. In a 2 building project like Park View there is no scope for economies of scale like What Amanora has. I guess it's quite a thoughtful construction wrt the need of first home buyers. It's respectable. Undoubtedly kharadi is quite a futuristic area and incremental appreciation will be quite high in this place. The IT centralisation in this area is the biggest bet for investors and builders. Further there is also commercial planned in the project which is a big plus due to quite less number of shops for household needs etc in the vicinity. I would strongly recommend this project, have taken a 2 bed myself!
ReplyDeleteHi Ravi Sir,
ReplyDeleteI am currently Looking for 2BHK & going by my budget It seems Aura County on Nagar Road is the best Option available considering i work in Magarpatta which is at 8Kms from Aura County Site. How do u see this are comin up in near future.other thing i am concerned about is the Water issue in Area.
Can u guide me in this?
very nice thank you for the information..
ReplyDeleteHi Ravi Sir,
ReplyDeleteThanks for posting GERA Park View details, but please post the BIO GAS plant details PMC planning in the middle of the Garden so that buyer get watchful before investing.
Its a cheating from GERA not informing this to the buyers and charging huge money for 1/2 BHK flats.
They are even not ready to listen to existing owners in ECK(N) and ECK(S).
I m writing this to you as I saw you have educated the buyers and helped them to get justice in many ways.
My friend who is having a property there , she is very disturbed with all development so I suggested her to pen this in your forum.
But later I decided to pen it here, I m in working in New York City but regularly watch your blog as many useful tips we get from you.
Regards
DD
I continue to be amazed by the impression about Gera being good & buyers paying premium for the same. Basic quality of construction & amenities or facilities is a must. Its your right as a buyer why should you pay a premium for it? The plan is not impressive & hence why the premium?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteGera Emerald city residents asked the Gera to provide their view on Bio Gas plant in PMC garden, which will not only decrease the property value but will have many more other problems, but Gera in silent. I am also wondering how came Mr. Ravi not wrote anything about Bio Gas plant? Mr. Ravi are you intentionally hiding this face from the buyer and readers?
ReplyDeleteThanks
Here is the detail about PMC Bio Gas plat
ReplyDeletehttp://punemirror.in/article/2/2012042220120422031623593562be843/PMC%E2%80%99s-biogas-project-sets-off-Kharadi-society%E2%80%99s-alarm-bells-.html
Bio Gas plant is removed. Work has been stopped. In PMC web site it is declared as Play Ground area.
ReplyDeleteYes , I went to the site yesterday itself , work on the bio-gas plant has been stopped.The Gera people at the site verified this as well.
DeleteThanks a lot for the helpfull information. I was thinking of buying 2BHK flat in Gera. Now i will take step back. please can someone suggest me better property in or around Kharadi.
ReplyDeleteThe work on the PMC park just opposite to GERA park view has commenced. This will be completed by August 2014. When done it will have a tennis court, basket ball court, jogging track and many. Its on a huge 4 acre land. Good development..
ReplyDelete