Queen of Xrbia

Conversation with Ms. Smita Monterio Lobo, AVP (Revenue Operations), on the progress of Xrbia Hinjewadi Pune:

Do you know who is the president of Xrbia?

Remember? Xrbia (www.xrbia.com)! An independent republic. Mostly, only on the web. At least, when it was launched. 4 months ago. In August 2012.

The promoters of Xrbia don't consider Xrbia as a real estate project. They claim that Xrbia is all together a different world.

Same with me. I completely agree with the promoters of Xrbia. I also don't consider Xrbia is a real estate project. You know that.

For me, Xrbia is an investment 'idea'. An idea for the stupid people to bait their disposable income.

An investment idea marketed on the web. On the social media. On Facebook + Twitter + You Tube. Passionately promoted on Indian Real Estate Forum.

Xrbai. An idea "distributed" by the third party agents. For the attractive commission. Somewhat like "Multilevel Marketing (MLM)". Like they distributed Japan Life Sleeping System. The magic mattress which promised to bring about wonderful cures while one slept, no matter what ailment the person suffered from. Including cancer.

In the real world, for me, Xrbia means Mr. Vishwanath Phalke. Vice President - Revenue Operations, XRBIA.

Who got in touch with me after I published my first blog "XRBIA Hinjewadi - The Sucker's Deal for the Stupid People with Some Disposable Income". To arrange my meeting with Mr. Rahul Nahar, Chief Executive Officer of XRBIA Developers Ltd.

In that meeting, I made my point. Though I don't like Xrbia and stupid real estate investors, I want to write about the 'progress of Xrbia".

Because, I write Ravi Karandeekar's Pune Real Estate Market News Blog to share information about what's happening in Pune real estate market. I may criticize a project but I will share information. Start discussion. Invite Pune property buyers to share their views.

So, Mr. Nahar & Mr. Phalke, please, keep me posted about Xrbia. I requested. And Mr. Phalke agreed to give me official progress regularly.

However, after that meeting in August 2012, I couldn't talk to Mr. Phalke. I didn't receive reply to my eamil and SMS.

However, a few days ago, Ms. Smita called me. From Mr. Phalke's mobile. Told me that now a days Mr. Phalke is mostly in Mumbai. So, I better talk to her.

I was more than happy to talk to Ms. Smita. I had heard a lot about her. About her dynamic personality. She is not only chief executive but the queen of Xrbia. Someone had told me.

And you know what? Yesterday I met the queen of Xrbia. Ms. Smita Monterio Lobo, AVP (Revenue Operations), Xrbia. At Showroom no 7, survey no 403-A, ICC trade tower, Senapati Bapat Road, Pune, MH 411016, India.

Smita & Sonia:

At the end of conversation, I asked Smita, "Can I take your photo?"

"Are you going to publish it on your blog?," Smita asked.

"Yes, of course! I am impressed with you. You are lot more charismatic than I was told. Those who told me about you, might have found it difficult to describe you in words. I don't want to do the same mistake. I want to publish your photograph on my blog!," I said.

"Sorry. My family is conservative. They don't like it. They are against publishing photos on the web," Smita said.

"OK. I respect your privacy. But let me confess. I haven't seen anyone so cool & confident. I will always remember this conversation. They way you told me all those things - particularly - your statement - We are going to construct 1 lakh homes - great!," I said.

"When you have faith in something you are confident about it!," Smita said.

"Yes, and the result is - all believe in you. Even someone like me! So, let me sum up our conversation. You told me 3 things. 1) New marketing strategy 2) Payment terms - ADF or As per the progress of construction 3) Possession of 13 buildings in 3 years. Right?," I asked.

"Yes!," Smita said.

"Thank you!," I said and took her leave. But one question didn't stop bothering me. I can tell you what Smita told me. But how can I tell it to you the way she told me. How about an example? Will it describe the way Smita presented herself? For example, Smita sounded like Sonia talking about how Congress is against corruption & mehangai. Got me?

Earn Rewards - from Pizza to BMW:

Xrbia is easy to sell. At the launch brokers - distributors earned a lot. TV ads are expensive. So, our marketing team lead by Miss Silva has come up with new marketing strategy. Grassroots Marketing. Smita told me.

Miss Silva or Joe Silva. The promoter of Tanaji Malusare City (TMC) Karjat? I asked myself.

To reach small towns in all over Maharashtra & India at a minimum cost - we are going to train our existing investors. And offer them reward points for selling Xrbia. Which can be as small as Pizza to as big as BMW car. Smita said.

Got it? Something like Reward Points (RP) offered by Speak Asia.

Choose Your Payment Terms:

Only 3 banks - ICICI Bank, India Bulls & Oriental Bank of Commerce are ready to offer ADF to Xrbia. All other banks refused to give ADF to Xrbia. Because these banks - for example - SBI - rarely give ADF.

(Refused? Have you taken consent of SBI before publishing ADF scheme in the launch ad of Xrbia? No. I didn't ask this. When Sonia speaks India listens . Don't ask questions.)

So, Smita requested the management to change the terms of payment. Instead of compulsory ADF - 20:80 Payment Scheme - now, you are free to choose your terms of payment. And bank. ADF or slab wise - as per the progress of work.

"Can you mange your construction cost if you get payment as per the progress of work?", I asked.

"Yes! If the payment is as per the progress of work - we don't have to pay 50 per cent of EMI! We save - but, the investor has to pay more - even more, if the project is delayed!," Smita said.

(Catch 22! I said to myself.)

In-House Construction:

For the sake of safety, you are not allowed to visit the actual construction site of Xrbia. But the photographs of construction updates will be published on website. May be live video streams of the construction site.

At this point of time, latest photographs are uploaded on Facebook. Smita said and showed me a few photographs.

"Who is the contractor? L & T was supposed to be given the construction contract?," I asked.

"L & T is too expensive. Instead of that we have appointed some engineers who will get it done from local contractors," Smita said.

"Using Aluminium Formwork System - as said on the website?," I asked.

"Yes," Smita.

"Of which company?," I.

"Mivan! We have already paid a few crores for the shuttering," Smita said.

"Whatever, giving possession of the first lot of buildings in 3 years would be "Guinness World Record"! All townships have taken more time!," I said.

"Second record! 1st - booking 3225 flats in 3 days. Right?," Smita said.

"Yes! The kind of hype you created was also a sort of record! Of course, credit goes to Pune property buyers. When they like something - they go for it without any inhibitions!," I said.

"60 per cent investors are form Mumbai and from other countries in the world. Only 40 per cent are from Pune!," Smita said.

(How shameful. I said to myself.)

"Agreements?," I asked.

"See this number 422 have already registered their agreements," pointing at her laptop, Smita, the queen of Xrbia, said.

(God bless them! I said to myself.)

Here are some the photographs of construction progress of Xrbia Hinjewadi Pune from Facebook:

View XRBIA, Nere Dattawadi, on Marunji Road, approx 7 kms from KPIT Cummins at Hinjewadi Pune in a larger map

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Xrbia Hinjewadi Pune Construction Progress Updates - January 2013

Related Stories:

1) XRBIA without SBI! Why? What happened?

2) Should I Cancel My Booking in XRBIA Hinjewadi?

3) XRBIA, Exorcist & Phobia

4) XRBIA Pune - A Few Questions & Observations

5) XRBIA Hinjewadi - The Sucker's Deal for the Stupid People with Some Disposable Income

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