"Forget about the young IT Professionals in Hinjewadi! Now, Wakad is not for them!! Soon, Wakad is going to become Kharadi of West Pune - where property prices will start from 75 Lakhs!
Why? Because, History repeats itself. Like nineties, housing is no more for the middle class masses. Henceforth, only a chosen few can own a home in PMC & PCMC.
Be ready - to experience the reincarnation of Wall Street Economy - where middle class only consumes & struggles to pay the bills - but don't own a thing!"
 |
| Launch Ad of Monarch Renaissance - 2 BHK 3 BHK 4 BHK Flats - 22 Story 11 Towers - behind Sayaji Hotel - off Mumbai Bangalore Highway - Wakad - Pune 411057 |
Monarch Renaissance Wakad Pune opens booking of
4 BHK Flat 3201 Saleable for Approx Rs. 1.64 Crore Onward
3 BHK Flat 1850 Saleable for Approx Rs.97 Lakhs Onward
2 BHK Flats 1266 Saleable for Approx Rs. 67 Lakhs Onward
on 15th May 2012 at the pre-launch property rate of Rs. 4,851 per sq.ft.
(Stamp Duty + Registration + Service Tax + VAT Extra)
in 22 Story Towers!
Today's Property Rate at Monarch Renaissance Wakad Rs. 5,100 per sq.ft.!
Yesterday, on 15th May 2012, Monarch Renaissance Wakad (www.monarchrenaissance.com) Pune 411057 released 2 full page ads in the local news papers. The property ads announced opening of booking of 4 BHK, 3 BHK & 2 BHK Flats in 22 Story 11 Towers of Monarch Renaissance Wakad at the pre-launch property rates - Rs. 4,851 per sq.ft.
But, today, i found out that Monarch Renaissance, behind Sayaji Hotel on Mumbai Bangalore Highway at Wakad, has increased the property rates. Now, it's Rs. 5,100 per sq.ft.!
This may be Monarch Universal & Aswani Developers way of celebrating the day on which Indian Rupee hit a record low (54.36) against the dollar and Indian Stock Market dipped below 16,000 mark!
However, the salesman at Monarch Renaissance Wakad promised to give me the pre-launch property rate - if i book by the weekend!
"Wow! The Great New Bombay Circus has come to Wakad!," I told myself.
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| Entrance Arch and Well Known Wakad - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
Monarch Renaissance Wakad Pune: Approximately 1,000 Flats in 22 Story 11 Towers in 26 Acres!
The builder of Monarch Renaissance Wakad looked different. Otherwise, you know, Wakad is the training ground of small & inexperienced builders. So, i visited the website of Monarch Universal (www.monarchuniversal.com) and called their corporate office at CBD Belapur, Navi Mumbai 400614.
Out of the 8 residential projects listed on their website, i was told that, 3 projects are complete -
1) Monarch Fortune Kharghar - 14 Story Single Stand Alone Building of 2 BHK Flats
2) Monarch Orchid Kharghar - 19 Story Single Stand Alone Building of 2 BHK Flats
3) Monarch Ambience Kharghar - 17 Story Single Stand Alone Building of 2 BHK Flats.
Monarch Universal's 4 under construction or just launched projects are -
1) Monarch Imperial Kalamboli - 14 Story 5 Buildings
2) Monarch Greenspaces Panvel - 38 Story 4 Buildings
3) Monarch Brookefields Kalamboli - 14 Story 6 Buildings
4) Monarch Luxuria Kharghar - 21 Story Single Stand Alone Building of 2 BHK Flats
Compared to these completed & on going projects in Navi Mumbai, where the average property rate is Rs. 5,000 per sq.ft., I found 26 Acre Monarch Renaissance of 1,000 Flats in 22 Story 11 Towers at Wakad too big!
"Wow! The Great New Bombay Circus has come to Wakad!," I told myself and congratulated Monarch Universal for choosing the right location of Wakad Pune - the training ground of small & inexperienced builders.
 |
| Elevation Layout of 22 Story 11 Towers in Monarch Renaissance Wakad Pune |
View Monarch Renaissance, 2 BHK 3 BHK 4 BHK Flats, behind Sayaji Hotel, Mumbai Bangalore Highway, Wakad, Pune 411057 in a larger map
Kareena Kapoor Vs. M/s Sonal, Prachi, Ritu & Co:
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| Liviano Kharadi Pune 411 014 Sakal (2011-09-30) |
What i liked most about Monarch Renaissance Wakad is "Kareena Kapoor"!
I am not a fan of Kareena. But i enjoyed looking at Kareena on full page ads of Monarch Renaissance Wakad. You know what? Because of Kareena, i looked at the digital image of 22 Story Tower in Monarch Renaissance Wakad for more than 2 minutes.
You know what I found out? The elevation of Monarch Renaissance Wakad looks similar to Darode-Jog Properties' Liviano Kharadi (www.liviano.in)!
Isn't it better to have Kareena than some girl looking like Sonal / Prachi or Ritu? Because of that girl in the ad - my first impression about Liviano Kharadi was "Sadak Chhap" - not trendy but 'down market' real estate project!
When I saw Kareena - I believed that Monarch Renaissance is a luxury property. Whereas, Urvashi Sharma failed to convince me that there was great fun inside the 2nd phase of Celestial City Ravet.
 |
| Celestial City Ravet & Model Urvashi Sharma |
When i searched a little, i found out that M/s Gopal & Hasmukh Thakur, two brothers & owners of Monarch Universal, have a bandwagon of Bollywood friends! Their corporate office at CBD Belapur Navi Mumbai is designed by Hrithik Roshan's wife - Suzanne! Not only that! Soha Ali & Kunal Khemu, Udita Goswami, Rajeev Khandelwal, Kamal Khan were present at the opening of this office!
"Wow! The Great New Bombay Circus has come to Wakad!," I told myself and started looking forward to see all of theme at Monarch Renaissance Wakad Pune 411057.
 |
| Gopal Thakur, Soha Ali, Kunal Khemu and Hasmukh Thakur at launch of Monarch Universal corporate office at Navi Mumbai |
Confusion at Monarch Renaissance Wakad Pune 411057:
 |
| 4 BHK Flat in Monarch Renaissance Wakad Pune |
 |
| 3 BHK Flat in Monarch Renaissance Wakad Pune |
I liked the floor plans of 4 BHK, 3 BHK Flats in Monarch Renaissance Wakad. Yes, even a 2 BHK Flat is also not bad. Room sizes are good. The positions of the toilets are not that good but sizes are comfortable. In fact, i fell in love with the master bedroom of a 4 BHK Flat.
Of course, I didn't like the fact that the carpet areas were not given on the website & in the brochure of Monarch Renaissance Wakad. But, i didn't get upset. Because, I know that Mumbai & Navi Mumbai Builders are not as transparent & as ethical as Pune builders.
Now, since I liked the floor plans of the flats in Monarch Renaissance Wakad, i wanted to know 3 things:
1) Has Monarch Renaissance Wakad received all necessary sanctions & approvals?
2) Has Monarch Universal, the capacity to actually construct Monarch Renaissance Wakad?
3) How is Monarch Universal going to develop the infrastructural services in Monarch Renaissance Wakad - drinking water, sewage treatment, waste disposal system, rainwater harvesting, water recycling, safety & security systems & fire fighting systems in the project?
I was not interested in the sample flat. Because, I know that the workers who construct the sample flat are not going to construct my property. Or neither am I going to get the kind of finish i see in the sample flat. So, I didn't mind when I found out that there is no sample flat at the site of Monarch Renaissance Wakad.
 |
| Sayaji Hotel Wakad - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
 |
| Plot of the future commercial development & the tent of Bhoomi Pujan - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
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| Air-conditioned Tent for Bhumi-Pujan - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
 |
| Pristine Pro-Life & venue of the musical event - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
 |
| Om Developers' The Island Wakad & the venue of the musical event - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
 |
| Back side of Sayaji Hotel & the actual site of the towers - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
However, the disturbing fact was that there wasn't any kind of site development work - not even a proper site office at Monarch Renaissance Wakad - except the small room where a few salespersons were giving information.
I saw one air-conditioned pandal in which bhoomi pujan ceremony was going on. Next to it, i could see the huge stage & seating arrangement for thousands of people. Someone told me that Sonu Nigam is going perform in the evening for the invitees.
"Did you take the possession of this plot only a couple of days ago?," I asked the salesperson.
"No! I am here for almost a month!!," the salesperson said.
"Oh! Really? Now, tell me - what's up today? A launch of Monarch Renaissance Wakad or only Bhoomi Pujan of a plot? Or a get-together of the friends & business associates of the builders?," I asked.
"All in one! Deputy Chief Minister of Maharashtra is coming at 5 pm to announce the launch!," the salesperson said.
"Wow! The Great New Bombay Circus has come to Wakad!," I told myself and asked him to explain the project.
Amenities at Monarch Renaissance Wakad: Flyover on Mumbai Bangalore Highway?:
 |
| Layout of 22 Story 11 Towers in 26 Acre Monarch Renaissance Wakad Pune |
 |
| Nyati Ethos 1 BHK 2 BHK 3 BHK Flats at Nyati County off NIBM Undri Pune - Hoarding on Wakad Flyover - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
 |
| Bhumkar Chowk Wakad - Aditya Birla Hinjewadi Road and Mumbai Bangalore Highway Junction |
The salesperson at Monarch Renaissance Wakad, dodged my questions about sanctions & approvals, construction team & infrastructural services and started talking about Shilpa Shetty's Spa - IOSSI and Mahesh Bhupati's Tennis Academy. He didn't stop at that. He took out the layout of Monarch Renaissance Wakad full of numbers in red. He started reading a long list of amenities in Monarch Renaissance Wakad - more than 50, i think.
At this point, i lost my patience. I told him to stop and asked him, "At Mahalunge Kumar Builders is building a bridge over the river to Hinjewadi. Are you at least planning to build a flyover on Mumbai Bangalore Highway? Wakad Flyover and Bhumkar Chowk Underpass are not enough!"
"We have a D P Road going through our plot. But i am not aware about the bridge. I will confirm and let you know," the salesperson said.
"You haven't done your homework well! You can launch a project in Pune and collect booking amount without showing a plot of land - but without imagination it's impossible to sell the property in Pune!," i told him.
"Yes! I can see that!! But how did you find Monarch Renaissance?," the salesperson asked.
"It's too early to talk about the project but, for sure, your architect and advertising agency are good!," i told him and said to myself, "Wow! The Great New Bombay Circus has come to Wakad!"
Contact Monarch Renaissance Wakad Pune 411057:
8600 122 122 / 9004 122 122 / www.monarchrenaissance.com
Pristine Pro-Life: Homes for Young Hinjewadi IT Professionals, Who are Born to Live in Wakad!
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| First slab of H G & Ready Structure of A, B, C Buildings of Pristine Prolife Wakad - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
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| Site of Pristine Prolife Wakad - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
I visited Pristine Pro-Life Wakad, the other project located next to Sayaji Hotel on the service road of Mumbai Bangalore Highway.
"Welcome to Wakad's finest residences for the Hinjewadi IT Professionals!," Ms. Kirti Bhosale, my dear friend & marketing manager of Pristine Pro-Life Wakad (88880 71444 / 88880 724444) said.
When i saw the printed price list with carpet areas, I felt very proud of Pune Builders. At this point of time bookings of G & H Buildings in Pristine Pro-Life Wakad are open. All inclusive property price of a 2 BHK Flat - 747 Carpet + 131 Terrace - on 1st to 3rd floors in Pristine Pro-Life Wakad is Rs. 56,81,244. Whereas a 3 BHK Flat - 1,000 Carpet + 132 Terrace - on 1st to 3rd floors - is for Rs. 76,07,310. Rs. 25 per sq.ft. per floor is applicable from the 4th floor.
Goldfinger Avenir: Most Competitive Property Prices & Most Convenient Location in Wakad!
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| Madhupushpa, Eden, Siddhivinayak Vision Square & construction Site of the B Building in Goldfinger Avenir 2 BHK & 3 BHK Flats at Wakad - View from the site office - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
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| Wakad Hinjewadi Flyover, Rohan Tarang Wakad & Construction Site of the B Building in Goldfinger Avenir 2 BHK & 3 BHK Flats at Wakad - Visit Monarch Renaissance, 4 BHK 3 BHK & 2 BHK Flats at Wakad, Pune 411057 |
Mr. Ganesh Shivadawkar (8888 155 999), Marketing Manager of Goldfinger Avenir Wakad, told me that in the 4 months from the launch, almost 80 % flats in the B Building are booked. Almost all agreements are done. The construction is in full swing - plinth of the B Building is ready. The second building, A Building of Goldfinger Avenir will be launched soon.
"Our property rates - Rs. 3,800 per sq.ft. for a 2 BHK Flat & Rs. 3,825 to 3,900 per sq.ft. for a 3 BHK Flat are the most reasonable property prices in Wakad. Not only that, our floor rise - only Rs. 25 per sq.ft. per floor - starts from the 6th floor. Have you ever heard Rs. 25 per sq.ft. premium for the Garden Facing flats? We have it in Avenir Wakad!," Ganesh said proudly.
All inclusive approximate property prices at Goldfinger Avenir Wakad are:
A 2 BHK Flat - Rs. 47.63 to 64.73 Lakhs + Service Tax + VAT + Maintenance + Society Formation Charges
A 3 BHK Flat - Rs. 60 to 82 Lakhs + Service Tax + VAT + Maintenance + Society Formation Charges
Pointing at Wakad Flyover, Ganesh said,"We have a D P Road which will connect Goldfinger Avenir to Wakad Flyover!"
"Why are you all so much concerned about connectivity to Hinjewadi?," I asked.
"Because, Hinjewadi IT Professionals prefer Wakad!," Ganesh said.
"Forget about the young IT Professionals in Hinjewadi! Now, Wakad is not for them!! You know? The Great New Bombay Circus has come to Wakad!! Soon, Wakad is going to become Kharadi of West Pune - where property prices will start from 75 Lakhs! Why? Because, History repeats itself. Like nineties, housing is no more for the middle class masses. Henceforth, only a chosen few can own a home in PMC & PCMC. Be ready - to experience the reincarnation of Wall Street Economy - where middle class only consumes & struggles to pay the bills - but don't own a thing!" I said.
Related Story:
1) WEDNESDAY, MAY 2, 2012
April 2012: Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs
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Hi,
ReplyDeleteI think by looking this kind of projects how a middle class people get a better accommodation in Pune.
And what are rules which define for these builders to raise price like this.
Even if i want flat of garden facing then i have to pay extra and to buy flat at 7th floor the prices are again increases.
I did not get on which basis builders raising prices like this and where it get stop God knows.
But at some point IT people is also responsible for this.
The next thing Builders will start charging will be for level of oxygen purity. e.g. the higher the floor the better the quality of oxygen. LOL
ReplyDeleteHi Ravi,
ReplyDeleteI am been reading your blogs from a long time and felt sometimes that you took the side of the builder and not middle class people like us. I really loved this one because this talks from the heart of a "Middle Class"
You told the true story here.
Cheers,
Omkar
#1! The middle class is born to consume and struggle paying bills! on the spot!
ReplyDeleteEasy money goes easy way out!
ReplyDeleteAnybody who has earned money hard way would not invest at such rates. We should not feel anything bad about people who earn money easy way. Because easy money goes easy way out.
Indians have craze to 'own' a home. But this craze is surely decreasing.
I know some friends who booked at Monarch Renaissance and let me tell you that they have not earned money easy. They have slogged 10-12 years to own a dream flat in such a nice project. Let me tell you, given the fact that they are offering all these luxurious facilities inside the flat and within the project, I think you should not compare prices with any other project. Look at Park street, Wakad where I heard rates are around 5600-6000/sqft. for lot less but comparable specification. If Monarch really keep the promise of what they are currently offering, I think it will be one of the iconic projects in Pune.
DeleteThis comment has been removed by the author.
Delete@Sameer Bagade
Deleteare you salesman praising the project...?
Amol, not really but I really liked the project and spec which I was looking for in Pune for a quite while. Of course you or I would never know if any under construction project would complete or be a disaster and if builder will keep his promise. I liked the concept and for sure not KAREENA :) I think rate is another side of the coin which is of course important but I think we should learn to praise the right thing and right project. I frankly loved the presentation,facade, spec and rate () too with a strong hope all will be delivered. I am not an analyst like Ravi sir to judge if the project and rate is justified but just an ordinary common day dreamer and comment on the basis of my limited knowledge of real estate in pune, mumbai. As Ravi Sir said in other replies to me that I may not understand all the aspects of integrated township vs this but thats why I share views here and read and learn from Ravi sir. :) Its a good discussion over all.
DeleteI am been reading your blogs from a long time and gets the actual senereo of Pune Real Estate Market.
ReplyDeleteThanks Ravi for your sincere efforts to bring down the cover story and the real story behind cover story.
Wakad was the only part leftover which was slightly lower than other areas in around Hinjewadi IT park...But now it will also boom like other areas... Existing player on the wakad field will start shooting up ther prices and will bring up to "Monarch Renaissance" Level....
Ravi,
ReplyDeleteI like the way you have bashed in this post. Indian economy is going in one direction(downside) but real estate(builder created manipulation) are heading towards Mars(upside).
God save buyers, NOT the one who are buying with black money but those who are pumping hard earn money without analyzing the basics. But sometimes I think, they also deserve it.
People with poor knowledge and stupid mind have no place in today's world.
There seems to be a sudden spurt in housing projects in Wakad which is now the hot destination. At present Wakad has very poor social infrastructure and you have to go to Baner or Aundh for small things. Any plans on this front?
ReplyDeleteWhat is the expected completion date of this project? Do you think it will be completed on time?
Dear Vikram, I am curious about the beginning!
DeleteWhen you pay in advance & sign an agreement which is in builder's favor - why should any builder try to complete the project on time?
Ravi, I follow your blogs and I seriously thank you for your effrots and in-depath evaluation and surfacing unknown facts but can you show me one single builder in Pune, Mumbai who doesn't have agreement in their favour? I think government should make strict rules for the builders to put atleast 50% money in the project before they ask buyers to pay deposit. In reality every builder's policy is same I guess to make money with people's money.
DeleteWhy would government do anything for a citizen - a property buyer or why would government go against the builders?
DeleteWhy don't you - the property buyer - do which can do?
- Reconsider the way we buy a property!
Sameer, please, be realistic!
Ravi Sir,
DeleteEkta Manus kaay karel?
All property buyers got to combine and appeal.
I totally agree with Ravi sir, "Reconsider the way we buy a property".
DeleteMy family has been suggesting me to buy a 2BHK flat in Wakad - Hinjewadi - Pimpri Chinchwad area, thinking of prospective career opportunities in Hinjewadi IT park.
However, I am in great dilemma between these two options:
1) Spend 55-60Lakh on 2BHK here, or
2) spend same amount to build about 2 or 3-story (four to six 2BHK flats) in my small hometown. Rent them, and use this rent to pay rent for my stay in Wakad - Hinjewadi - Pimpri Chinchwad area.
The second option is safer for the following reasons:
a) No impact by/on my choice of job across India or world.
b) No impact by economic slowdown, real estate bubble burst etc
c) Rural estate appreciates faster
d) I own entire building, premises
e) In the far future era of "work from home" culture, going back to my hometown isn't bad option :)
Pretty confused!
Visited website in excitement and was curious to see location and went to location page and what I see is here http://i49.tinypic.com/2mwv2ow.jpg Sayaji hotel is shifted to other side of Dange Chowk have you observerd. making fool out of us :-) what is exact location or they shifting Sayaji hotel there??
ReplyDeleteLets see if this builder could create "renaissance" in wakad. All the best for finding "bakra" to pay 1 crore for 3BHK at Wakad.
ReplyDeleteRavi thanks for visiting this site was curious to know what is "the new face of luxury".
You don't visit East Pune projects like on NIBM road, Wanaworie etc?
I recently visited a project named "teerath" somewhere on the highway near wakad and they were trying to sell part of the outer lobby as the "Angan" !!
ReplyDeleteI pity the state of housing in this city. 75 L for a 2BHK (and i am sure this is the price if the first floor which will certainly be booked even during the pre launch).
During these times of economic turmoil, if people start buying a 1200 sqft flat at 75 ~ 80 L, i can certainly predict a few banks in india going bankrupt in the near future.
Good luck to those buyers who purchase a flat here. Pay 75 L and forget it for the coming 4 years. I would like to repeat an old quote from Ravi himself : this truely is the place for the lovers of mosquitoes and birds. I am not sure if you get mosquitoes from the 10th floor and above, but you will certainly get birds and will have absolutely NO money to feed them.
Mate.. check the rates around in wakad.. Megapolis 8 kms inside from Wakad Flyover, is charging 420/sqft0 for a lot less spec. rate at Blueridge is 4500/sqft for again lot less spec. if those projects are getting booked out, why not this. I do not understand.
DeleteDear Sameer, please, understand the concept of an integrated township - of the Blue Ridge & Life Republic - and the benefits of infrastructure developed and owned by MIDC.
DeletePlease, read the local newspapers to understand the state of governance & challenges, issues about implementation of development plan in PCMC.
You can join me on Google Plus (+RaviKarandeekar) and Ravi Karandeekar's Pune Real Estate Blog Group - My Google Group where i share info published in the local newspapers.
Sameer, in addition to what Ravi has mentioned, we also have to take the state of the project into consideration. The rate at this Monarch project is being offered when only the booking tent is prepared. Megapolis, BlueRidge are well advanced and are now on the verge of possessions for some towers. Again - I definitely don't mean that the rates at these two projects are totally justifiable. But compared to Monarch, they are more realistic at least.
DeleteThe only "Claim to fame" for Wakad was that it was near to Hinjewadi IT Park. It was a haphazard development which left much to be desired. Like a make do shack/tapri which while fulfils basic requirements does leave much to be desired. Now with townships cominginside the IT Park itself which are self contained with amenities and shopping and recreation facilities inside, the exodus from wakad which will start as a tricle will become a flood.
ReplyDeleteI salute those investors who wil book in Wakad at these rates.
They are truly courageous and have in fact cros the thin line between courage and insanity.
They deserve the 12000 Rs pm rent for their investment of Rs 70 lacs!!!
Hi Ravi,
ReplyDeleteWhat do you actually do for a living? It seems that you like to dislike all the property developers in Pune and now targeting Mumbai as well.
The fact remains that you also used to work for one of these Circus. Did they kick you out?
Guys, this guy is writing all bullshit... dont even think about it... just enjoy the rhymes he quotes...
cheers
Shark
Dear Shark,
Delete1) I don't do anything for living.
2) I dislike all Pune builders! Really?
3) I believe in love. I love Pune property buyers.
4) Yes, I am associated with Pune Builders for many years. Yes! You are right. I was almost kicked out!! Lucky me!!!
5) Thanks for the suggestion. I respect your opinion.
6) Thanks for the appreciation, too!
@SHARK
DeletePlease be sensible with your language...
this blog belongs to Ravi and author has rights to express his views..you may agree or disagree..you can put your viewpoint but do not humiliate or ridicule anyone...
thanks!
@Amol
DeleteI am not against anyone....
But you know if any blog is misleading the buyers, then we have to voice our opinion as well.
Yes I agree that the property rates are soaring but we cannot see one side of the coin.
why doesn't ravi write about PMC and its corruption? Is it that the builder is always at fault. Do you even know how many tables the file has to go through before getting clearances and trust me it is definitely not a easy job.
@Ravi
I agree and respect that you try to enlighten the buyer but your language is foul as well. Like for eg: Amit Enterprises project is Undri you used the word "Raped" mother nature. without confirming the facts and whether the builder has acquired the necessary permissions it is not right to abuse them. What goes around comes around. Hope u are not offended.
Dear SHARK,
Delete1) Is this "misleading"?:
Now, since I liked the floor plans of the flats in Monarch Renaissance Wakad, i wanted to know 3 things:
1) Has Monarch Renaissance Wakad received all necessary sanctions & approvals?
2) Has Monarch Universal, the capacity to actually construct Monarch Renaissance Wakad?
3) How is Monarch Universal going to develop the infrastructural services in Monarch Renaissance Wakad - drinking water, sewage treatment, waste disposal system, rainwater harvesting, water recycling, safety & security systems & fire fighting systems in the project?
What is? Please, tell me!
Dear SHARK,
DeleteIt's the exact description of what Amit Colori at Undri Village has done to mother nature!
Please, visit the blog once again to understand what they have done!
Ravi Karandeekar's Pune Real Estate Market News Blog:
Is it worth buying a flat at Amit Colori Undri at a discounted property price?
Dear SHARK,
Delete1) I write about what I know well - buying property.
"Legal Charges" are builders' efforts to promote corruption among the property buyers. So, I have written about it! Please, visit this blog:
Ravi Karandeekar's Pune Real Estate Market News Blog:
"I refuse to pay "legal charges" for the registration of my property agreement"
Dear SHARK,
Delete"i Do you even know how many tables the file has to go through before getting clearances and trust me it is definitely not a easy job."
- This shows that you know a lot about PMC. Please, write about it, SHARK!
Calm down SHARK, don't live up to your user name :-) Perhaps you should take the queue and start/provide your blog where you are covering the points that Ravi is doing bad at or is ignoring altogether - like the file changing tables.
DeleteCan you answer one very basic question that I have in my mind since childhood regarding this "legal front" ? Give it a shot -
Question - "Why exactly do I have to pay hundreds of thousands of rupees for the so called joke of registration, stamp duty?" What exactly does government do in my process of getting a home out of my / loaned money for which I should pay this much? Does this charge really have to be linked with the property price? Isn't the piece of paper that I get the same for 1RK and penthouse? Does this piece of sh*t give me any real protection at all other than psychological satisfaction and false sense of security? When some local criminal / politician (well one and the same) or whoever stands in front of me and demands that I vacate the property, does this paper give me the confidence to stand up against it? Fight a potentially armed man with a paper which being from the government may as well be forged in some scam? The only reason these charges are levied is earning money for the government. In return I do not get absolutely anything. No water, no roads, no electricity, no civilized surroundings, no safety after sunset to men/women. Then is it justifiable to pay this much adding to the already high prices?
I'm not sure about you, but to a man who works under the sun sweating hard to earn the little money to feed a family these property prices for a country and infrastructure like India are stupid - period. Unfortunately - nature always sticks with survival of the fittest. In case of humans its "Survival of the luckiest" thats all. Its the LUCKY humans that earn a lot - not always the fittest.
I also do not always agree with all of Ravi's points. But then even with that the overall net value that his blog provides is invaluable. We can pick the things we feel good. Unless we have more information / proofs against, its no use bashing someone's potentially selfless efforts.
Cheers.
@Vikas Apte
Deleteyou reap the words from my mouth...
government actually wants to share(or should I say "cut") of your happiness without sweating even a drop...
Even if somehow assume that first time registration is fine...why the hell they start peeping into the resale deals...again pay all the charges to government...what the heck ?
this applies even if you buy a one month old, one day old or one year old registered property...
everyday thousands of RE transactions takes place BUT WE DON'T HAVE REGULATORY FOR SUCH A BIG INDUSTRY....and THEY WILL NOT DO IT.
Hard earn 50 lacs can do lot of things but when in real estate market they can make you buy a "MATCHBOX" size house
People are "penny wise pound foolish" nature...
they will stand in half kilometer queue to fill 5-7 liter petrol when petrol prices shoot up by 7 rupees JUST TO SAVE 50 Rs. and same crowd will NOT THINK AT LEAST TWICE to understand what they are getting when they buy 40-50 lacs apartment.
God also can not save such a mentality people
Your last line there Amol, sums up the harsh reality about India and us - the people...Well said indeed.
DeletePeople are "penny wise pound foolish" nature... Wonderful quote!
DeleteI thought introspective for a moment, and yes! I bargain with a veggie hawker to reduce per kg rate on vegetables (a saving of Rs 1-2?) but wouldn't challenge the system that's charging heavy on my income and property.
Its surprising to see people in favour of the project at such a outstanding rate for the location. The best thing about Ravi`s blog is we know what date it was launched by "kareena kapoor" and lets see when our Kareena gives the keys to the first few residents in monarch.
ReplyDeleteI at least see 3+ years without amenities for 2-3 buildings.
by the time this projects is completed...Kareena will probably performing characters of "mom" or "grandma" in Bollywood films :-)
DeleteRatezs are horrible!!!!Monarch will soon learn that construction is in pune(wakad) not Mumbai!No body goona buy there.
ReplyDeleteKareena Kapur ad gave me feeling that Karrena will be staying with Monarch residence(-;
Dear Ravi sir,
ReplyDeleteI would like to know about sudden hike in stamp duty.
While booking in henjewadi, i was communicated rate as 2% beaing part fo grampanchayat not they have made MAZI 'PANCHAYIT' by sudden hike of 3% st duty as per builder.
Is ST duty 3% or 5% for Hinjewadi/Mahalunge/Wagholi area?Kindly clear Grave confusion!
Dear san_1,
DeletePlease, visit Ravi Karandeekar's Pune Real Estate Market News Blog:
Buy a Flat & Get 1 Water Tanker for Free!
Ravi sir,
DeleteI regularly visit ur blogs and i went through ur blog where i realise stamp duty is 3% for grampanchayat.
Thats what my quetion is.Every builder of hinjewadi asking for 5% st.duty, while docs says 3% for gram'panchayit'.
Can you please clarify further?
Dear San_1, Yes, now, in this financial budget, Maharashtra Government has increased the stamp duty charge. You will find a link in the above blog.
DeleteSameer & Shark,
ReplyDeleteHave you purchased in Wakad or are you builders sales agents? You seem to be personally agrrieved by comments on projects in Wakad!!!
The townships inside IT park have more or less the same amenities incluing extra ones like a school and megamart in case of megapolis and life republic. Who wants to face traffic everyday from wakad to IT park when well equipped residence with all amenities is available inside IT park itself.
hey and wakad is not deccan gymkhana/FC Road to have a bal gandharva , appa canteen or Vaishali/Rooplai hotel etc to lure people to wakad.
Wakad was just a stop gap. just a stepni!!
By the timw these pojects are ready, wkad will become a ghost town with sale notices on every corner!!!!
Then buyers can drwon their sorrows in the great specs like jaguar fitings and wooden floorings
Saccha's arguments seem to have facts. Who would want to face traffic everyday and pay even higher for staying too far from office?
DeleteThe question remains : what is more "unreasonable"? Megapolis price or Monarch price? :)
Saccha, you are missing a point.Havent you seen Kareena in ad which suggests/pretends kareena will be statying with you or perhaps a hot item will marry you as you bought flat in Monarch? (-;
ReplyDeleteIs this facility avaiable at deccan? ro Megapolice or life republic????
Nice one Ravi.You are the voice of Middle Class property buyer in Pune.
ReplyDeleteInformative post Ravi about Pune property!
ReplyDeleteI really feel pity for the whole of Pune real estate and the people who are investing such huge amount in Pune real estate..You have to understand the econonmics of Pune..Its totally surviving on IT industry and if this Industry gets in to recession then only god can help those people who are putting whopping 0.5 crore to 1 crore of investment for jsut a 2/3 BHK flat..It would it would be the same mortgage crisis in Pune as it happened in US.So better not to invest at such high rates in pune and stay away for such attractive offers..I always believe that when every1 starts investing in to a particular investment like share market,real estate then it is jyst Lull before the storm..(Ex-Reliance power IPO shares),.,
ReplyDeleteTake for ex a 50 lacs house on loan for 25 years at 10% rate of interest will require you to pay 1.3 crore including interest and principle.
ReplyDeleteIs this a good investment option ?Think about it ?
I would suggest go for a rental option.Paying ten thousand per month will cost you thirty lacs for the period of 25 years and you would save striaght 1 crore of your valuable money.
And you can have a balenced protfolio created in gold,silver,MCX,equity,MF,SIP,ULIP etc etc rather than making such a dead investment on loan..History has always shown that share market yield 20% compounding yearly if you invest in long term..So why go for this foolish lifestyle where the propery is not yours,the money is on loan and take such a big burden on your own ?There is no peace of mind at the end of the day..Every day you go to job there is glinch of tension hanging around always...Why to live in such a fearful life...
I still understand dear friends owning a house is everyone dream and every person wants to have this dream accompolished. But at the same time you need to practical in life and really think about the investments you are making are really worth making investment..If owing a house is your dream rather go for a small builder single building with no amenities and pay less and make smart choices and not get in to lucrative attractions which are of no use..Ex.A single building with no amenties might cost you in the range of 30-40 lacs and with amenties and luxuries will cost you 60-70 lacs..Might as well furnish your house on ur own and take lifetime club memebership by paying couple of lacs..You will have best of facilities and can save big chunk of money..I still think pune property market is a bubble based on IT industry and the bubble will soon start deflating over a period of years...Bad loans, defaulters,Non performing assets,bank getting bankrupts can soon be a reality
ReplyDeleteMoral of the story-"Take investment decisions which will give you peace of mind and not take away your peace of mind"
Bad loans, defaults happen when bank loan 100 % of mortgaged value. This was the case in US.
DeleteIn India, banks lend only upto 75-80 % of mortgage value. 20 % is invested by buyer. Thats why in India, bubble has grown slowly and it will deflate slowly. There wont be crisis like US.
Investor/Speculator will lose money. Banks won't loose money.
These flats are very costly my friends.Better live on rent...
ReplyDeleteLive on rent?
Deletewhat pay 10 - 12k rent for how long...
I am sorry..I cant do that. I would rather buy a flat in Wakad !!
These guys are now in Jail for creating massive 1000 crore scam:
ReplyDeletehttps://www.youtube.com/watch?v=aMsnhnHKkFo