Review of Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014:
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
This Akshay Tritiya Punekars had a tough time.
The jewelers shut them out. Only God & Builders entertained them.
Dagdushet Halwai Ganpati accepted 11,001 mangoes. Ami Estate opened booking of Le Reve at Kharadi.
When I saw the launch ad, I was shocked to read that the Le Reve will have 2 towers of 22 story!
Who is this builder who dares to launch a 22 story building at Kharadi? I asked myself.
No. I was not concerned about a central government rule 'SO-988', which makes it mandatory for any high rise construction within a 20-km radius from Lohegaon airfield, and a no-objection certificate (NOC) from Minister of Defense. My only concern was Kharadi.
I was not surprised when Calyx Corp launched Artemis.
But 22 story buildings at Le Reve was beyond my imagination.
After all, Kharadi Hadpsar Bypass is not Sinhagad Road!
Not only that! To launch the project, even Star Vie at Moshi roped in Rimi Sen (!) but La Reve at Kharadi didn't take help of any small or big Bollywood or TV star!
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
Curious to know who is this builder, I visited www.lerevepune.com - the website of Le Reve at Kharadi.
And you know what?
Under the heading of project status, I saw the photographs of the under construction towers at Le Reve -
RCC Work - Tower A - 12th slab work in progress. Tower B - 11th slab work in progress.
Brickwork & Plaster - Tower A & B - Floor 1 & 2 work in progress.
Podium 3rd slab (final) work in progress.
Not only that! The possession of Le Reve Kharadi is scheduled in mid 2014!!
In the current slowdown in Pune real estate market, you know how risky it is to book a flat at the launch.
Who knows whether the project will receive enough bookings or not?
If the project is delayed, you know how difficult it is to cancel your booking.
In the last slowdown, these builders didn't refund the booking amount immediately.
They forced the property buyers to wait till someone else booked your canceled flat. And refunded your money only after they got his booking amount.
Considering all these risks, after a long time, I was eager to visit the launch of a new housing project in Pune real estate market.
But, I controlled myself and called - 9372026333 / 9372026444 - the contact numbers given in the ad and asked the property prices of 2 BHK & 3.5 BHK Flats in Le Reve Kharadi
"The basic property rate - for the 1st floor - is Rs. 6210 per sq.ft. Then - from 2nd floor - rate increases by 45 rupees per floor. Means, for the 2nd floor - rate is Rs. 6,255 per sq.ft. and for the 8th floor - Rs. 6,525," the sales executive said.
"6 2 1 0 - 6 2 5 5 - 6 5 2 5 per sq ft at K h a r a d i ! ? ," to confirm the property rates, I repeated loudly.
"Yes! Adjoining Radisson Hotel on Hadapsar Kharadi Bypass - at Kharadi!!," the sales executive said.
"Are you out of your mind?," I said and got up to go - see for myself....
On my way to Le Reve, I was wondering only about one thing. The property prices at Le Reve. I had seen the floor plans of 2 BHK & 3.5 BHK Flats. I liked the plans. But couldn't read the room dimensions.
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| 2 BHK Flat on Odd Floors at Le Reve Kharadi Pune |
A 2 BHK Flat with 1 Car park at Le Reve comes in 3 sizes - 767, 769 & 772 Carpet + 2 Terraces - One attached to living / dining. The other attached to children / master bedroom. Including everything a 2 BHK Flat on the first floor was costing Rs. 87.50 or 88.74 Lakh. On the 8th floor the property price of a 2 BHK Flat was Rs. 94.33 / 95.49
A 3 BHK Flat with 2 Car parks at Le Reve comes in 4 sizes.
On even floors - 1162 / 1156 Carpet + 2 Terraces.- .One attached to dining. The other attached to master bedroom. Including everything these 3.5 BHK Flats on the 2nd floor were costing Rs. 1.27 Crore and on the 8th floor Rs. 1.32 Crore.
On odd floors - 1089 / 1149 Carpet + 2 Terraces.- .One attached to living. The other attached to guest bedroom. Including everything these 3.5 BHK Flats on the 1st floor were costing Rs. 1.20 / 1.25 Crore and on the 7th floor Rs. 1.25 / 1.30 Crore.
The half room in 3.5 BHK Flat was, of course, the servant room with attached toilet & independent entrance.
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| 3.5 BHK Flat on Odd Floors at Le Reve Kharadi Final |
Compared to other projects in Kharadi, these sizes were little small. That's why even at much higher property rate the property prices at Le Reve were competitive. For example, property rate at Pittie Kourtyad (www.pittiekourtyard.in), my favorite project in Kharadi, is Rs. 5,500 per sq.ft., Rs. 5,400 per sq.ft. at Gera's Trinity Towers (www.gera.in), Rs. 5,000 for the 1st phase & may be 5,500 for the upcoming 2nd phase of Kolte-Patil Tuscan Estate (www.koltepatil.com), Rs.5050 at Liviano (www.liviano.in). But there isn't a big difference in the all inclusive property prices between Le Reve & these projects in Kharadi. It means that, I thought, if the location, specification & amenities are good, any property buyer will not mind little less area and will prefer Le Reve over other projects!
I was curious to meet the builder of Le Reve who is going to give pompous builders in Kharadi a run for their money!
When I saw the under construction cement concrete approach road to Le Reve, I lost my heart. Le Reve is exactly behind Radisson Hotel on Kharadi Hadapsar Bypass. They share common compound wall. Compared to undeveloped / backward / ugly or down market neighborhoods of other projects, the location and the approach road of Le Reve is the best in Kharadi, No wonder, the builder of Le Reve put his own money to construct the RCC structure. He knew that he can command the premium.
Obviously, there is a show flat and an actual sample flat on the first floor. The first floor of Le Reve is actually the 5th floor. Because first 3 floors are for parking and the 4th floor is for indoor amenities. Out door amenities are on the podium between the 2 towers.
As expected there was a small crowd at Le Reve. Which brought to my notice that the floor lobby was spacious. The 3.5 BHK show flat, as usual is well done - in fact over done. The 'staff' was well informed, attentive & charming. (Look at their photo. We meet at every launch!). The specifications are good - wooden flooring in all bedrooms - 800 x 800 vitrified tiles - modular kitchen - piped gas - sanitary wares & glass separators in the bathroom - double glazed UPVC imported windows - 7 feet imported doors - glass railings - home automation systems and all. What appealed to me most is the ventilation in the bedroom. Besides the big window, there were 2 more small windows in the master bedroom!
After looking at the RCC structure and confirming that location, specifications & amenities, I didn't know when I stopped cribbing about the property prices at Le Reve.
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| Mr. Rajen Raisoni, Developer of Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
"Isn't 6210 right price?," someone asked me.
"You are a builder. You will always feel the the rate is right," I said.
"What about you? A blogger has no freedom to agree?," said the gentleman.
"No. I must keep on criticizing," I said.
"I am a builder and the original landlord of this plot. I don't mind accepting that this rate is high - but right. Because, I know what land price they have paid to me and know their construction cost!," the gentleman said.
"How much?,' I asked.
"Nearly 2,500 per sq.ft. for the land - and construction cost must be around 2,300. If you add other charges - you will realize that 6210 is justified!," the gentleman said.
"Then why did you sell the plot? Why didn't you develop?," I asked him.
"Because, I knew that I didn't have the capacity to develop a project like this! Now, when you see this structure ready - you do not understand the pains and difficulties - risks & uncertainties - involved in developing this type of a project - given a choice - got a good offer - most of the builders prefer to sell their land - or become a sleeping partner in the joint venture," said the gentleman.
"OK. If today's rate is right - how much appreciation my readers can expect?," I asked.
"I have developed 4 small & simple projects in Kharadi. The rate of the first one - in 2007 - was Rs. 1,600 and the rate of my project in 2012 was Rs. 4,500 - means from 2007 to 2012 - property rates went from 1600 to 4500. Logically - in the next 3 years time - by the time of completion - the rate of this project would be 10,000!," the gentleman said and looking at Mr. Rajen Raisoni, builder of Le Reve, he said,"Am I right? By the time of possession rate will be 10,000,"
"In this December - I am planning to give possession for fitments and by May these floors - 8 floors - launched today - will be ready for occupation! In this Diwali - September - October - the RCC of higher floors will be ready - and I will open the bookings of those floors - by December 2014 - 1 & half year from now - entire project will be ready!," said Mr. Raisoni.
"Look at him - a builder is never interested in appreciation - he wants to construct - deliver - and start a new project!," the gentleman said.
"Time is money - my partners are from Mumbai - they work efficiently - high land price and 2700 construction cost - demands efficient construction!," said Mr. Raisoni.
"When a builder starts talking about construction costs and land prices - I feel like saying - don't worry - if you need - don't feel shy to ask for pocket money - I always have a 100 rupees note in my watch pocket!," I said.
"Land price anywhere in a city limit is on an average 2,500 rupees per sq ft and construction cost - for a project of this class - is around 2500 for a saleable area. So, 6,000 is a minimum rate - if you start adding a cost of convenience, comfort & status - it reaches 10,000 per sq ft - for example in your Kothrud," said the gentleman.
"Yes! At Pethkar Projects' Samrajya in Shivtirthnagar on Paud Road property rate is Rs. 9,300 - 9500 per sq.ft.! ," I said.
"Convenience & status takes time - but here at Le Reve - we are offering what is in our control - ready RCC structure - visit your flat - experience it - take informed decision - less risk - more clarity - this also adds to the value - what say you?," said Mr. Raisoni.
"You will not let me go till I say - 6210 is the right property rate!," I said.
What say you?
Have a look at these photos I shot at Le Reve Kharadi. If you feel like, please, visit the show - sample flat and share your views in the comments.
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| The 'staff' at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit 2 BHK Sample Flat at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit 2 BHK Sample Flat at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit 2 BHK Sample Flat at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| The 'staff' at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from 2 BHK Sample Flat at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from 2 BHK Sample Flat at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| My Friends at Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| My Friends at the launch of Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Launch event of Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| View from Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
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| Visit Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 |
View Le Reve, 2 BHK & 3.5 BHK Flats in 22 Story 2 Towers, adjoining Radisson Hotel, Kharadi Hadapsar Bypass, Kharadi, Pune 411 014 in a larger map
Contact Le Reve:
Survey No 7/1/1&2, adjoining Radisson Hotel, Off Kharadi Hadapsar Bypass, Kharadi, Pune 411 014
020 3239 6333, 93720 26 333 / 444 / info@lerevepune.com/ www.lerevepune.com
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too good...isnt there any property in kothrud ? :(
ReplyDeletenew version of beauty and the beast. Beast builders use beauties to sell property.
ReplyDelete1 crore for 2bhk........
ReplyDeleteDefinetly , not for common people like me
This comment has been removed by the author.
ReplyDeleteRavi,
ReplyDeleteI read your full blog and amazed to see that your views always varies from blog to blog. You always write your blog for 'home' buyers not investors and here you speaking like an investor. You are exaggerating your whole review on property price 6210 as too high ,not for buyers whereas 1 month ago I find you quoting 6000 affordable in some remote Talegaon project.In area like Kharadi, property rates are much higher than 6000 because of its strategic location, EON IT Park,its proximity to Magarpatta and the biggest factor 'on-going development'. It looks like you always write good abt projects near 'Kothrud' your home place and criticize rest everything as 'kachra' .Smells like some kind of propaganda.
This comment has been removed by the author.
DeleteNice Post, but there is another option for real estate at same place..Rustomjee Urbania Acura
ReplyDeleteWhat a joke the builder is craking: "Land price anywhere in a city limit is on an average 2,500 rupees per sq ft and construction cost - for a project of this class - is around 2500 for a saleable area. So, 6,000 is a minimum rate"
ReplyDeleteSo this justifies for the cost of single floor apartments. Here in this case the builder tries to justify the cost of 1 floor and conveniently neglects for the rest 21 ;-)
But another issue - what if the builder is saying this in context of all 22 floors
- that means somebody who plans 11 floors on similar plat will have to sell at around 2500(construction cost) + 2500x2(land cost per flat/floor as the floors are reduced to half the cost will be doubled)
But we can't see this happening around... so jokes are not apart.. they are very much part of day to day discussions
2500+2500x2 + 1000 for builder = 8500 per sq ft in Kharadi on May-2013
DeleteI saw this project still under construction yesterday, on 14th June 2015. Is there any problem with this project?
ReplyDelete