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Thursday, August 29, 2013

A Home Without Dining

Quick Review of Phoenix Ribereno,
1BHK & 2 BHK Flats near Shirke Paper Mill, Shirwal 412801, Pune Bangalore Highway (N H 4), Taluka Khandala, District Satara:

Mr. Rutuparna Pednekar, Phoenix Rebereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal  412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara
Mr. Rutuparna Pednekar, Phoenix Ribereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal 412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara

Builder of Shirwal:

Last Sunday, I reached Shirwal late. I could either visit Vastushodh Projects' UrbanGram Shirwal or Phoenix Ribereno near Shirke Paper Mill. I decide to visit Phoenix Ribereno. Mainly because, I was told that the builder is local.

Local? How can a local builder name his project 'Phoenix Ribereno'? I asked.

But his previous projects were Kedareshwar Residency - Kedareshwar Classic - Kedareshwar Tarangan - You know? - Kedareshwar is 'Gram Daivat' of Shirwal. This time, Phoenix Ribereno - may be - because - it's big - a township of more than 600 flats - 1 BHK & 2 BHK - I was told.

A township at a convenient location - walking distance from Shirwal S T Stand - 600 units means prime township - 4th project of the builder means - he can throw light on actual state of industrial development & property market of Shirwal - I though & decided to visit Phoenix Ribereno.

Real Estate Investment Opportunity - A Con Game:

Yes, I wanted some authentic info about Shirwal. I am not a real estate investor. You can't take me for a ride. I know this con game. A swindle in which a builder persuades a person to buy worthless property. Talks about 'big development plans' to ripoff middle class investors.

I know about:
International Airport at Chakan.
International Airport at Navi Mumbai.
International Convention Center at Moshi in Pimpri Chinchwad Municipal Corporation.
Pune Metropolitan Region Development Authority (PMRDA).
Pune Ring Road.

I find it difficult to believe in the industrial growth around Shirwal because I read tragic news about industries around Pune. About Block Closure at Tata Motors. Mahindra & Mahindra to Halt Production. Strike at Bajaj Auto Chakan. Bharat Forge's Khed City SEZ.

Not only me, but the entire world knows about India's economic crisis. I completely agree with eminent economist Jayati Ghosh's statement - "It is a crisis. This is the big one. But it has been building up for a while due to many reasons: the growing current account deficit, the industrial slowdown, the lack of infrastructure development, the negative investment in the economy." In this situation, how can I believe in the development of Shirwal?

Because of this economic crisis, who is going to get affected most? Certainly, middle class. Rising home loan interest rates is just a ripple effect.

Or are there so many Punekar middle class real estate investors who are in the state of Mental Exit? They physically work & reside in Pune - but mentally they have left Pune - completely disconnected from Pune around them - they have shut Pune off - just forgotten about the reality. And they live in their own cocoon - in which only Pune builders can enter!

Are these Pune real estate investors aware that they are living in 2013 and not in 1991? The 2 myths created in 1991 - 1) The Great Indian Middle Class & 2) The Great Indian Growth Story - are busted - broken down to pieces - shattered - long ago!

Shirwal - Industrialization without Urban, Social, & Civic Infrastructure:

I had seen the RCC of Phoenix Ribereno Shirwal from the S T Bus, but not the site office. The first look at it told me that this builder must be professional. Yes. He was. His name was Mr. Rutuparna Pednekar, B E (Civil). He is one of the partners of Phoenix Realtors (www.phoenixrealtors.co.in), developers of Phoenix Ribereno.

Mr. Rutuparna invited me in his cabin. I was with him for nearly 160 minutes. When I left him, I had started feeling positive about the growth of Shirwal. But I was not convinced that Shirwal would be a good place to work & stay.

Mainly, because, though the MIDCs were planned, the Regional Plan (R P) was not. Very recently, the state government had started the process. It only means that the government is least bothered about the citizens.

It's not only least bothered about civic development, it has already started exploiting the citizens. In the last three years, the state government has increased the ready reckoner rates from 1350 to 2350 per sq ft and had increased the stamp duty from 2 to 5 per cent.

On one hand, the state government gives facilities to the industries - but when it comes to citizens - it charges more - without giving anything.

And the builders talk about the facilities provided for the industries - as if these all are civic development - which will make your life comfortable. I am sure, these Pune builders assume that investors do not know how IT engineers, as well as, IT companies in Hinjewadi are suffering because of lack of proper roads connecting PCMC, PMC & other fringe villages with Rajiv Gandhi Infotech Park.

Point is, how can you earn appreciation if there is no development plan? Investment is like a sapling. A sapling needs an orchard. An orchard with a gardener to care and protect the sapling. If all went well, your sapling may give good yield - an appreciation.

Junk Food vs Healthy Food:

Mr. Rutuparna Pednekar, Phoenix Rebereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal  412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara
Mr. Rutuparna Pednekar, Phoenix Ribereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal 412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara

Yes, of course, the sapling must be of good quality. For example, now a days, most of the builders focus on USP - unique selling propositions - of the project. So they talk more about the amenities and specifications. But give less importance to planning & infrastructural services in the project. Instead of focusing on comfort & quality of living, they try to make the project more attractive. So most of the flats are like junk food - more tempting but less nutritious.

At Phoenix Ribereno, Mr. Rutuparna told me that you will get all those amenities available in Pune. Result is you will be happy to shift in Shirwal. Otherwise, Rutuparna said, all managers & executives - for whom Phoenix Ribereno is planned - prefer to waste 2 hours in a bus - commuting between Pune & Shirwal.

Only property price - 1 BHK Flat for 18 - 20 Lakhs & 2 BHK for 27 - 29 - is not enough. These officers demand quality of life. That's why Rutuparna has given lot of importance to infrastructural services - water filtration plant - sewage treatment plant in Phoenix Ribereno. You can't expect much from a Gram Panchayat, Rutuparna said, you have to contribute to it.

Yes, companies have not only taken land but have started establishing industries. A few industries are already operational. At this point of time no project in Shirwal can get enough booking from the local industries. You have to target the industries which will be shifting in the next couple of years.

However, the volume is small - bookings are slow but steady. That's why Phoenix Ribereno, though it is located at prime location, will need nearly 4 years to book & deliver 600 flats.

Shirwal is good - slow & steady market - which Pune builders understand but - can not afford to accept - mainly for the commercial reasons. So they over exaggerate the growth of Shirwal - they over promise - and over price the property. The result is those who accept - start over expecting - and get disappointed and cancel the booking or avoid paying installments.

I was almost happy to find Mr. Rutuparna Pednekar - a balanced realistic builder & Phoenix Ribereno -the perfect investment grade property in Shirwal. But, when we visited the sample flat, I realized that there is no dining!

I asked Mr. Rutuparna Pednekar. He said, "Dedicated dining space - with living or with kitchen - means extra space - more saleable area - means more property price - so I have left it to the buyer - let them decide whether they would like to eat in the living - watching cable TV - or put a folding table in the kitchen!"

Oh! Really!! By this logic, one simple room is more than enough. We can use it as a kitchen, dining, living & bedroom. Isn't it? Why do we go for a 1 BHK / 2 BHK or a 3 BHK Flat? We all are stupid. Isn't it? What say you? Share your views in the comments, please.

Contact Phoenix Ribereno Shirwal:

86050 10000 / 86050 20000 / 86050 30000 / sales@phoenixrealtors.co.in

Visit Phoenix Rebereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal  412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara
Visit Phoenix Ribereno, 1BHK 2 BHK Flats, near Shirke Paper Mill, Shirwal 412801, Pune Bangalore Highway (N H 4) , Taluka Khandala, District Satara

View Vastushodh Projects' 'Urbangram Shirwal, Dhangarwadi Phata at Chaupal, Pune Bangalore Highway (N H 4), Taluka Khandala, District Satara, 412801 in a larger map

Related Stories:

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2) Navi Mumbai airport might be unviable, fears Cidco

3) Shiv Sena objects to PCNTDA’s Rs 600 crore project at Moshi

4) Maharashtra government contemplating to include various civic institutions under PMRDA

5) MSRDC awaits state nod for ring road

6) Rs 500 cr makeover plan for Hinjewadi IT Park

7) Uninterrupted power supply for Hinjewadi IT Park in Pune

8) M&M sacks 500 temporary staff at Chakan plant

9) India's economic downturn leaves middle classes fearing the worst

10) The Exit of the Middle Class

11) The myth of the great Indian Middle class: Roughly 30 per cent of India's population still lives below the poverty line

12) When You Hitch Your Wagon to Someone Else’s Star

13) Shanti Savera Shirwal - A Home for the Common-Man

14) Visit Vaikunth Smashan Bhumi at Shirwal

15) Weekly Bazaar in Shirwal

16) UrbanGram Shirwal Launched

17) As rupee pierces 65/$, ICICI Bank and HDFC raise home loan rates

18) UrbanGram Shirwal will be launched on 23rd August 2013

19) A Bungalow for 60 Lakhs near UrbanGram Shirwal

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  1. Thanks Ravi sir. Are we slowly approaching towards real estate crash? I feel so. Why people think that they will go & leave in Tamhini ghat or in Shirwal? I think some pune buyers would be ready to buy the land on moon or mercury as well as as it would appreciate in 2-3 life cycle.(Assuming that they will take birth in same family and no family disputes) I do read your blogs and comment section, i found your view are unbiased & correct. Thanks for saving many people like me who have limited vision (kup mandhuk).

  2. http://www.sify.com/finance/Is-real-estate-set-to-collapse-next-imagegallery-economy-ni2tCXjijfc.html

  3. I do not get it that why people are running around to buy second and third properties.
    I know at least 2 IT couples who are living their youth in poverty to make the builder rich for their second property.
    Wake up people. We live only once!

  4. Finding office space in Bangalore is very difficult for the new people or the old people to find out.so,we help you out in geeting a good place in the city that suites your business