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Wednesday, February 26, 2014

What can property buyers do when builder delays project?

Flat Buyers Should Takeover the Delayed Project &
Complete It On Their Own - Mr. Kedar Vanjape:

Actually, I had gone to see Mr. Kedar Vanjape to know about his upcoming Nisarg Srishti - 110 Fully Sanctioned N A Bungalow Plots Project near Shirwal on Mumbai Bangalore Highway.

But instead of that I asked him,  "Kedar saheb, what can property buyers do when builder delays project by a couple of years and may not be able to complete it - for a few more months?"

"Flat buyers should takeover the project & complete it on their own!," Mr. Kedar said.

"Is it possible?," I said.

"Yes. It's unique solution. But it's practical solution. It's simple solution," Mr. Kedar said.

"You say as if it's easy!," I said.

"Yes. It's easy. See, in real estate business - constructing & completing project is an easy task - procuring land, designing right kind of a floor plan, getting sanctions & approvals are tough tasks, " Mr. Kedar said.

"Wait...wait let me video record you - what you say will save lives of thousands of families - they must hear you. Can I?," I said.

Mr. Kedar gave his consent and let me video record him.

Of course, Mr. Kedar Vanjape didn't know that he was talking to 3,000 flat buyers in 3 Hubtown Ltd projects - Ackruti Hubtown Countrywoods Kondhwa Pune, Ackruti Hubtown Greenwoods Thane, & Ackruti Hubtown Gardenia Mira Road.

Click to Read More

Saturday, February 22, 2014

32 Flat Buyers & Hubtown Countrywoods - David & Goliath

About Consumer Court Case Against  Ackruti Jay Developers, Builders of  Akruti - Ackruti - Hubtown Countrywoods Kondhwa Pune:

David and Goliath, a colour lithograph by Osmar Schindler (c. 1888)

1) Light at the End of the Tunnel:


Last Saturday, Honorable V. P. Utpat, President, Pune District Consumer Disputes Redressal Commission, rejected Ackruti Jay Developers' application.

Referring to the clause in the flat agreement, Ackruti Jay Developers argued that not the consumer court but an arbitrator (appointed by the builder!) has a right to look into this matter.

The consumer court not only rejected the builder's argument but ordered Ackruti Jay Developers to pay Rs. 25,000 as a penalty to each  of the 32 complainants.

Under  section 12 of the Consumer Protection Act 1986, in 2012 / 2013, these 32 flat owners in Akruti - Ackruti - Hubtown Countrywoods had filed complaints against the builder Ackruti Jay Developers.

These 32 flat buyers are praying for -

1)  Damages for mental pain & agony because of deficiency in service provided by the builder

2) EMI from the date mentioned in the agreement to the actual date of possession

3) Rent from the date mentioned in the agreement to the actual date of possession

4) Loss of Income Tax benefit because of the delay in getting possession of a flat

and have requested the court to direct the builder Ackruti Jay Developers -

1) Correct defects, shortcomings & lacunae in construction of flat & building

2) Complete all promised amenities - provide essential services

3) Get necessary completion & occupancy certificate

4) Form Co-Operative Housing Society

5) Execute deed of conveyance in favour of this Co-Operative Housing Society

Now, the final hearing is on 15th March 2014.

It means that, now, all these 32 flat buyers in Akruti - Ackruti - Hubtown Countrywoods can see the light at the end of the tunnel. Long tough times in their life would be over, soon. I told myself.

Though I don't know any  of these 32 brave flat owners personally, for years, I was following Akruti - Ackruti - Hubtown Countrywoods on Indian Real Estate Forum, Facebook & CONFONET - Computerization & Computer Networking of Consumer Forums in County - (www.confonet.nic.in) (Case Number CC/12/588 to 594. CC/12/596 to 603. CC/13/25 - 26 - 27 & 29 to 39).

2) Visit Akruti - Ackruti - Hubtown Countrywoods Kondhwa Budruk Pune:

(To View More Photos - Put Your Cursor Over the Current Photo)

Eager to meet the brave 32 flat owners, last weekend, I visited Akruti - Ackruti - Hubtown Countrywoods off Katraj Kondhwa Road.

You know? I was not at all tense when I visited the site. I was sure that I was not going to face any embarrassing situation. I was not going to meet any flat buyer who would say - "Here comes Mr. Ravi Karandeekar whom I consulted before booking a flat at Hubtown Countrywoods."

However, in some cases, I hope that I would be proved wrong. Yes, I would love to face embarrassing situation. I am looking forward to meet a property buyer who would say - "Mr. Ravi Karandeekar, you were wrong about this project. I didn't listen to you & booked a flat in this project. Now, see for yourself. Entire project is complete - on schedule - as planned!"

Every night before going to bed, I pray - "God, please, prove me wrong about Xrbia Hinjewadi, KUL Nation, KUL Ecoloch, Sahara City Homes Pune, PRA Lake District, PRA East Avenue. Give the property buyers their flats for which they have put their life in danger!"

Point is - I never had a positive opinion about this project & it's builder. I always had doubts & serious concerns about Akruti - Ackruti - Hubtown Countrywoods and it's builder Akruti City / Ackruti City / Hubtown / Ackruti Jay Developers. I didn't have any proof. But my gut feelings were giving signals about an ugly tragedy.

Last weekend, when I visited Ackruti Hubtown Countywoods, it looked liked an abandoned town. There were no security guards. In the first cluster, a couple of cars were parked. Painters were giving second coat to these buildings. Children of construction workers were playing in landscaped garden of this cluster.

I roamed around the project. I visited the clubhouse. But I didn't feel like visiting the sales office in it. Painted buildings & clubhouse looked like a trap. Set to catch new, naive visiting flat buyer.

I visited a few buildings. Some complete and occupied buildings in the first cluster. Some almost ready for possession buildings in the second. Some RCC structures with brickwork and plaster.

I went up in the lift and visited a few flats in which internal work was going on. I climbed a few staircases and visited a few unfinished flats.

Yes, of course, there were a few workers on the site. In one cluster, construction of under ground water tank was in progress.

But, the work was not going on with the intention to complete the entire project. Construction was definitely not in 'full swing'. Like it was when Akruti - Ackruti - Hubtown Countywoods was launched in April 2009.

I felt that the builder Ackruti Jay Developers was only pretending to work. So that no one can say that the project is stalled. Like it was almost stalled in 2011 / 2012.  

For a while, I stood looking at these half done RCC structures with brickwork & plaster. I don't know when I became one of those 32 property buyers who have gone to consumer court. Who have booked a flat in 2009 - 2010.  Whose possession date in agreement was December 2010 or 2011.

Today, on 15th February 2014, when I became one of them and was looking at the half done deserted RCC structure with brickwork & plaster - I felt hope. Someday, in near future, I may get possession of my flat in that building. I told myself. I felt good. Then I looked around. And asked myself -

But what about the entire 15 acre Ackruti Hubtown Countrywoods of around 1,200 Flats in 35 buildings which was supposed to be ready for occupation in September 2010?

Would Ackruti Hubtown Countrywoods ever be complete?

Can Ackruti Jay Developers complete the construction of the entire Ackruti Hubtown Countrywoods?

Does Ackruti Jay Developers have capacity to complete the construction of the entire Ackruti Hubtown Countrywoods?

Does Ackruti Jay Developers have an intention to complete the construction of the entire Ackruti Hubtown Countrywoods?

If Ackruti Jay Developers had capacity & intention to complete Ackruti Hubtown Countywoods - they would not have given away the rest of 45 acre land to Kolte-Patil Developers.

Yes, the total size of the project was 60 acres.

Does it mean that by giving away rest of the land, the builder has already accepted his incompetence?

Who's talking?

Ravi Karandeekar or one of the 32 brave property buyers in Hubtown Countrywoods?

One who has guts to go to consumer court wont be so pessimistic.

Having a doubt about the intentions of the builder is not pessimism. It's being practical. Being realistic. I told myself.

If it is practical, then why doesn't State Bank of India or Indiabulls or any bank who has given home loan raise question about completion of Hubtown Countrywoods as per the date mentioned in the agreement?

Are you stupid?

If you are paying EMI regularly - why would a bank bother to open your agreement and see the date of possession?

But what would be the value of my agreement if there is no property?

Only nationalized banks bother about mortgage - about property. For example SBI.

SBI which has given ADF to Hubtown Countrywoods!

Why didn't SBI take any action against Hubtwon Countrywoods?

Is it because I am paying my EMI to State Bank of India?

Should I stop paying EMI - for not getting possession of my flat and - force SBI to take action against Ackruti Jay Developers?

I know why only 32 out of some 500 flat buyers went to consumer court.

But, I don't understand why nobody who has a stake in this transaction has raised any question about Hubtown Countrywood.

Not a single bank.

And yes, not even Government of Maharashtra.

Yes! Government of Maharashtra which has collected stamp duty, registration charges & VAT from me.

Why do we pay tax to the government?

Isn't it responsibility of Government of Maharashtra to see that the tax payer gets the possession of the flat?

It was a tax. Not 'hafta' to gali ka gunda!

Wondering from where these 32 flat buyers got strength to fight for their rights, I left Ackruti Hubtown Countrywoods Kondhwa.

3) Kingdom of Evil & Devil:

Akruti Countrywoods Katraj Kondhwa Road (25-4-09)

In April 2009, Akruti City Ltd. was not in a good financial condition. Akruti was excluded from futures & options (F & O) segment. From Rs. 1826.9 Akruti's stock had dropped to Rs. 999.45. To prevent further down fall, directors of Akruti had pledged their shares. 

Crisil, leading rating agency, had noted that
"Akruti’s aggressive development strategy is reflected in the fact that ongoing and planned projects are six times the size of its completed projects.  
The company has been facing extended delays in ongoing projects.   
The company’s liquidity has been adversely impacted by the overall slowdown in the sector, coupled with its aggressive development strategy and increased focus on commercial projects."

Akruti had a total debt of Rs 829.19 crore on its books as of March 31, 2008 and a debt equity ratio of 0.71. It had a negative cash flow of Rs 109 crore from operations as on March 31, 2008. 

In this financial mess, you can understand why Akruti City Ltd. invented "Just Perfect Homes" - Compact budget flat - with all amenities - for the upwardly mobile urban family. 

Because, urban middle class is the softest target & easy kill. 

Because, budget homes - affordable housing - is the safest, quickest & respectable way to raise interest free funds.  

(Remember? 'A Home for Rs. 100' in Raj Kapoor's 'Shree 420'!)

Ackruti Greenwoods in Thane. Ackruti Gardenia in Mira Road
In 2009, along with Akruti Countrywoods Kondhwa, Akruti City Ltd. launched 2 more 'Just Perfect Homes' projects. Ackruti Greenwoods in Thane. Ackruti Gardenia in Mira Road. 

Obviously, in 2009, all 'leading' & 'respectable' newspapers were publishing 'news-stories' - Overwhelming response to Ackruti's 'Just Perfect Homes'

Today, in 2014, 5 years after the launch, not even 100 property buyers are occupying their flats in Ackruti Hubtown Countywoods Kondhwa in Pune. 

Today, in 2014, 5 years after the launch, out of 1000 not a single flat buyer in Ackruti Gardenia in Mira Road has got possession of his flat. 

In this YouTube video, you can see their demonstration for possession and view a flat buyer threatening to commit suicide for possession. 

Today, in 2014, 5 years after the launch, look what is happening at Ackruti Greenwoods in Thane -

Hi All,

First of all let me tell u all that I am new to this forum.

I am also a frustrated customer of Hubtown as I have also booked a flat in Thane Project "Hubtown Greenwoods" in the year 2009.

Even now, in 2014 50% work of the project is not completed. The builder is not giving us even a probable possession dates.

The only positive thing is that we, the flat owners are united in large numbers, well connected with each others.

Now we are left with no option but to file a case in consumer court at the earliest.

As i was reading this forum, i came to know that some of you have filed a case in consumer court against Hubtown.

Can anyone of you guide us on the procedures that you all follwed to file the case in consumer court and what problems did you came across.

This will help us a lot as lot of time will be saved.

You can write me on "shalio77thane@.com" .

Please reply guys as your valued suggestions will be very beneficial to us all.

Thanks and best regards...
 What say you? 

Is the delayed possession of all these 3 budget housing projects of Hubtown Ltd. a mere 'coincidence'?

Do you think that Hubtown Ltd. has any intention & ability to complete all these 3 projects?

Why are all banks who have given housing loans to flat buyers not bothered about completion of Hubtown Ltd's 3 projects?

Isn't it a duty of Government of Maharashtra - which collected stamp duty, registration charges & VAT from the flat buyers in these 3 projects - to help these flat buyers  get possession? 

Oh My God! How stupid  am I to expect anything from Government of Maharashtra!! 

I just went on talking about Akruti City Ltd - Hubtown Ltd. and forgot to tell you about "Jay" in Ackruti Jay Developers. 

M/S Jay is non other than Jayant Shah, son of Hiralal Shah of Jairaj Group (www.jairajdevelopers.com).  

You know who is Jayant Shah?

In his deposition before Adarsh prob committee, Jayant Shah has told that his son Malav, who also owns a flat in Adarsh, has given unsecured interest free loans to Ashok Chavan's relatives to buy a flat in Adarsh. 

That's not all! 

Jayant Shah has done a lot for Ashok Chavan. Here is a small glimpse of Jayant Shah's role -
 According to the sources, Chavan was so close to Shah that without Shah's approval Chavan would not sign any files. 
Every time in-order to get our files cleared we had to first sit with Shah, said a city based developer.  
According to the sources Shah used to negotiate with developers due to his closeness with Chavan.  
We had to pay huge amounts to Shah, for getting our files cleared, said the city based developer.  
We were shocked to receive his calls even after Chavan had resigned. He summoned us and told us to cough up money otherwise he would see that Chavan makes negative remarks on the files, so that even the new chief minister would not be able to clear our proposals, said the source.  
Just because Shah, did not give clearance, Chavan would not clear files, as a result hundreds of files are lying on CM's table since long, said source. 
According to sources, Shah, who is originally a rice vendor from Pune, played an important role in the posting of officials across various state departments particularly the MMRDA, Mhada, SRA, BMC and RTO. 
Shah allegedly took huge sums of money from these officers on the pretext of giving them plum postings in these departments, as they are considered lucrative. 
Shah had suggested and recommended postings in each and every department, a city-based developer alleged. 
 Yes. Now the picture is clear. Now, you know who is the enemy of these 32 brave flat buyers in Akruti - Ackruti - Hubtown Countrywoods Kondhwa

What say you?

Aren't these 32 flat buyers really brave?

Isn't this fight between good & evil?

Wouldn't you like to support these 32 Aam Aadmis to win the consumer court case?

Please, share your views in the comments.    
P. S.

One sec. Yes, fight is tough. But wining is possible. Why?

Because, Mr. Shashi Govind Gadakh, a flat owner in Ackruti Hubtown Countrywoods has already won against Ackruti Jay Developers and received compensation for delayed possession of flat. Have a look at this news published on 31st October 2013 in Sakal!

 Shashi Govind Gadakh, a flat owner in Ackruti Hubtown Countrywoods has already won against Ackruti Jay Developers


1) What can 3,000 flat buyers of Ackruti Hubtown do?

Related Stories:

1) Ivy Estate Wagholi to Start Giving Possession of Flats!

2) Get Compensation for Delayed Possession of Flat in Ivy Estate Wagholi

3) Kolte-Patil Developers - Tell the Truth and Shame the Devil

4) What happens if a bank takes over a housing project? 

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Saturday, February 15, 2014

Current Property Prices & Availability in West of Pune

'West of Pune' Property Exhibition - For What?:

(To View More Photos - Put Your Cursor Over the Current Photo)

"VITs Hotel at Balewadi is not the right venue for Pune property exhibition. Kuwait is the right venue," one of my real estate salesman friends said.

"Is this some new hotel?," I asked.

"Kuwait is a country in Gulf," he said.

"But The Times of India doesn't have Kuwait edition," I said.

"But TOI regularly organizes property exhibitions in Gulf. Where most of the visitors have enough budget to buy a property in Pune. Out of all these visitors you see around - 90 per cent don't have budget. Still they come. Know why?," he said.

"To check whether the rates have come down or not!," he said.

"When you know this - why do you take a part? Why does Times organize?," I asked.

"To tell the buyers that Pune property rates are stable - haven't come down - may go up - but will never come down," he said.

"So kind of you!," I said.

1) G G City Bavdhan, Ganga 22 Sinhagad Road & Ganga Glitz Undri:

Goel Ganga Group's (www.goelganga.com) 3 upcoming projects are - 1) G G City at Bavdhan Budurk 2) Ganga 22 on Sinhagad Road & 3) Ganga Glitz at Undri - NIBM Annex - Mr. Pankaj Chhetri, Manager, Sales & Marketing, said.

G G City Bavdhan Budruk will be 32 + acre township. Spread between Mumbai Bangalore Highway and Ram Nadi, G G City will have around 2,500 flats of 1 BHK, 2 BHK, 3 BHK.

Ganga 22 - all 2 BHK Flats in 22 story Twin-towers - will be on main Sinhagad Road, exactly opposite Ganga Bhagyoday.

6 Acre plus Ganga Glitz at Undri will have 376 Flats with high end specification & amenities.

2) Sukhwani Sepia, behind Indira College, Tathawade - Wakad, Pune:

Sukhwani Sepia Wakad (www.sukhwaniconstructions.com) has around 450 flats in 9 buildings. Approximately year ago, Sukhwani Constructions opened booing of 3 buildings - 2 of 2 BHK & 1 of 3 BHK Flats.  In these 3 buildings there are around 150 flats. Today, some 70 - 80 flats are available for booking.

Property prices of 3 BHK Flats are 79.4 - 86.73 Lakh onward. A 2 BHK comes in 2 sizes - big & small. The property price of the small is Rs. 62.21 onward, The big is 65.87 Lakh onward.

90 per cent construction of these 3 buildings is over. Now, internal work - tiling & plumbing - is going on. By December 2014, these buildings - along with the amenities on the podium - will be ready for possession (!).  Total project - all 9 buildings - would be ready by 2017. Ashish (8888 30 9999), sales executive, said.

I tried my best, but Ashish didn't say two words - "Environmental Clearance"!

3) A Studio Apartment in Vasudha Etasha, next to Grand Stand, Chandani Chowk, Kothrud:

Vasudha Landmarks (www.vasudhalandmarks.com) hasn't yet launched Etasha at Kothrud - but booking & construction has began.

Studio apartments in Etasha - are in good demand.

(Ever heard about - 20 per cent flats reserved for Economically Weaker Section (EWS)? Corruption is not politicians'  monopoly. If Aadarsh is for politicians - 20 per cent EWS Reservation is for middle class real estate investors!)

Instead of usual - 1 Room Kitchen (1 RK), at Etasha you will get 1 Bedroom Hall (1 BH) - 15' 7" x 9' 4" Living + Pantry + 10' 8" x 9' 1" Bedroom / Study + WC & Bath / Toilet for only Rs. 29.74 / 32.48 Lakh onward!

Main offer of Vasudha Etasha is 2 BHK (89 Lakh Onward) & 3 BHK (125 Lakh Onward) Flats. From 3 BHK Flats you can enjoy a view of reserved forest on the hills of NDA. From 2 BHK Flats - Mumbai Bangalore Highway. You know? Etasha will have all high end specifications - like modular kitchen - chimney & hub.

Not only that! Mr. Anupam (90110 70726), sales executive, told me that underpass will connect Etasha to Mahatma Society in Kothrud - on the other side of Mumbai Bangalore Highway.

I know - I told him. A couple of years ago, a sales executive at Grand Stand had told me about it!

At Balewadi, Vasudha Landmarks has 2 projects. Sai Eshanya & Parnika.

3 BHK Flats in 7 story Parnika are almost ready. You can inspect the ready for possession 3 BHK Flat (Rs. 99 to 110 Lakhs) & buy. One 2 BHK Flat is also available for Rs. 58.32 Lakh!

Sai Eshanya Balewadi has 2 buildings. In the first building - almost ready for possession 2 BHK (72.05 - 82.16 Lakh Onward & 2.5 BHK (90.16 Lakh Onward) Flats are available. 50 per cent construction of the 2nd building is done but - booking is not yet opened.

4) 'Bada Ghar Chota EMI' - Juggler Javdekars New Show!:

Javdekars (www.javdekars.com) are famous in Pune real estate market for collecting advance payments from naive property buyers by juggling EMI. 

In August 2013, EMI Juggler Javdekars collected 10 per cent of the property price against the flats which they did not have permissions to build.  

Now, EMI Juggler Javdekars have come up with an offer for under construction project - Yashwin at Sus. 

70 per cent construction of Yashwin is done. So, 70 per cent payment is due. Possession is after one year. Means if you book today - you have to pay pre-EMI for 1 year and EMI after possession.

But if you give 100 per cent payment - ADF - at the time of booking - under "Bada Ghar Chota EMI" offer - EMI Juggler Javdekars will bear 50 per cent of your EMI - till possession - means for 1 year.

Not only that! EMI Juggler Javdekars will continue to bear some part - less than 50 per cent - of your EMI for 1 year after the possession. 

It means that - for 2 years - from the day of booking - you will pay "Chota EMI".  

"Bada Ghar Chota EMI" is only for 3 BHK Flats (Rs. 86.56 Lakhs) and Duplex (Rs. 121.96 Lakhs) in Yashwin at Sus.

5) Welcome to a World of Open Car Parking at Punawale:

Sirocco Grande at Punawale (www.benchmarkindia.co.in) hates cars. Because cars pollute air.

GRIHA Certified Sirocco believes that the only way to protect environment is to discourage people from buying & using cars

No covered car park and high cost of open car parking - discourages people from buying a car.

That's why, Sirocco provides open car park (2 Lakh for Parking & Club House!) for the flats on 1st to 11th floors in it's all 5 buildings.

Only the flats on 12th, 13th & 14th floors in Sirocco Grande will get covered - stilt - parking

So, if you want to buy a Flat with Covered Car Park - 2  BHK (65 - 65.63 Lakhs) & 2.5 BHK (75.78 - 76.51 Lakh) - in Sirocco Grande, better pray for aviation clearance for 13th & 14th floors.

Yes! And all should pray for environmental clearance too!!

6) Room Sizes in Pride Purple Group Projects (www.pridepurplegroup.com):

3 BHK Flats (1 Crore Onward) in Park Titanium at Park Street Wakad, Pune

Living DiningKitchenBedroom 1Bedroom 2Bedroom 3
24' 5" x 12' 2"11' 8" x 8'6"12' 3" x 12' 2"12' 3" x 14' 11"11' 4" x 3"
20' 10" x 12' 2"10' 6" x 8' 6"11' 10" x 14' 2"12' 2" x 12' 2"10' x 13'
20' 10" x 12' 2"10' 6" x 9' 2"12' 2" x 13' 7"10' x 13' 1"12' 2" x12'

2 BHK (85 Lakh Onward), 2.5 (95 Lakh Onward) & 3 BHK (1.05 Lakh Onward) Flats
in Park Turquoise at Park Street Wakad, Pune:

BHKLiving DiningKitchenBedroom 1Bedroom 2Bedroom 3
219' 6" X 13' 11"10' 9" X 8' 4" 11' X 14' 6"10' X 12'
2.519' 9" X 13' 10"10' 9" X 8' 4" 11' 7" X 14' 6"11' 4" X 12'10' 3" X 9' 9"
322' X 15' 3" 11' X 8' 2"13' X 15' 5"13' X 10' 10"10' 6" X 11' 6"

2 BHK (78 Lakh Onward) & 3 BHK (95 Lakh Onward) Flats in
Park Ivory at Park Street Wakad, Pune

BHKLiving DiningKitchenBedroom 1Bedroom 2Bedroom 3
216' 5" x 13'10' 8" x 8'11' x 13'11' 6" x 10' 6"
217' 9" x 12'9' 4" x 8'10' 6" x 13'10' 6" x 11' 3"
321' 9" x 13' 1"11' 5" x 8'11' x 14' 9"11' x 11' 9"10' 5" x 11'

3 BHK (2.25 Crore Onward) & 4 BHK (2.9 Crore Onward) Flats in
Park Grandeur at Baner Pune:

BHKLiving DiningKitchenBedroom 1Bedroom 2Bedroom 3Bedroom 4
326' 1" x 14'13' x 11' 9"15' x 12'15' x 12'14' x 12'
428' 3" x 16'12' 6' x 12'16' 9" x 12'15' x 11' 15' x 11'10' x 12' 3"

2 BHK (85 Lakh Onward), 2.5 BHK (95 Lakh Onward) & 3 BHK (105 Lakh Onward) Flats in
Park Xpress Baner, Pune:

BHKLiving DiningKitchenBedroom 1Bedroom 2Bedroom 3
219' 6" x 14' 1"9' x 8' 7"11' x 14' 6"10' x 12'
2.519' 9" x 14' 1"9' x 8' 7"11' 8" x 14' 6"11' 4" x 12'9' 9" x 10' 3"
322' 3" x 15' 5"9' 7" x 8'13' x 15' 7"13' x 11' 7"10' 3" x 12'

2 BHK (95 Lakh Onward) & 3 BHK (125 Lakh Onward) Flats in
Pride Valencia Baner, Pune:

BHKLiving DiningKitchenBedroom 1Bedroom 2Bedroom 3
216' x 20'11' x 8'12' 6" x 14'10' 6" x 12'
316' x 20'11' x 8'12' 6" x 13'11' x 13'10' x 9' 9"
324' x 15' 3"12' x 8'12' x 16' 7"12' x 13'10' x 12'

4 BHK Flats (425 Lakh Onward) in Pride Panorama on Senapati Bapat Road, Pune:

LivingDiningKitchenBedroom 1Bedroom 2Bedroom 3Bedroom 4
13'1" x 19'8"9'10" x 13'9"17'7" x 9'10"11'10" x 15'9"13' x 10'8"10'10" x 15'9"14' x 9'10"

2 BHK (50 Lakh Onward) & 3 BHK (62 Lakh Onward) Flats in
Park Springs Lohegaon - Dhanori, Pune:

BHKLiving DiningKitchen Bedroom 1Bedroom 2Bedroom 3
216' 1" x 11' 6"9' 6" x 7' 11"10' x 14'10' x 11'
320' x 11'9' 5" x 1310' x 15' 210' 13' x 11' 1'11' 10" X 12.7

7) Join 300 Families in Greens at Thergaon Wakad, Pune:

Pudumjee - G: Corp has given possession of 300 flats in A B, C D & E F Buildings in Greens at Thergaon (www.greenspune.com).

Now a few 2 BHK & 3 BHK Flats (mostly on the top floors) are available in under-construction L K Buildings (Possession July 2015). Plus, in a recently opened 16 story H G Building (Possession 2017).

Property prices of 2 BHK Flats are in the range of Rs. 77 - 87 Lakhs & of 3 BHK Flats from Rs. 92 to 109 Lakhs.

8)  Available! 2 BHK & 3 BHK Flats in Balewadi F Residences!!:

Balewadi F Residences (www.f-pune.com) was launched on 26th January 2014.

I was not expecting Balewadi F Residences stall in 'West of Pune' property exhibition. Because the exhibition was on 8th & 9th February 2014.

"Participation may be for creating brand awareness - not for booking," I told myself and didn't visit the stall on 8th.

But on 9th someone told me that flats are available in Balewadi F Residences. So, I visited the stall and collected the property price list.

The price list had only Agreement Value. So, I asked for all inclusive price. I was told that all inclusive property prices of 2 BHK Flats are in the range of Rs. 85 Lakhs to 1 Crore and 3 BHK's in the range of Rs. 1.4 to 1.25 Crore.

The property rate at Balewadi F Residences was Rs. 6500 per sq.ft. and development charges were Rs. 7 Lakh for 1 car park per flat, electricity meter, sewage & solid waste management (!?)

Booking amount was 5 Lakh and cancellation charges fee - Rs. 1 Lakh (!)

Floor rise - Rs. 50 per sq.ft. from 4th floor onward and Rs. 100 from 12th.

The next 'Term & Condition' was amusing - "Flats have premium location (Road Facing & Garden Facing) will charge extra Rs. 200 per sq.ft. and Corner flats amenities facing & Road facing will extra charge Rs. 300 per sq.ft."

The area statement of a 2 BHK Flat on Even & Odd Floor in Balewadi F Residences was more amusing.

I read the room sizes of 2 BHK Flats on Even & Odd floors again and again.

Balewadi F Residences - Same Room Sizes but Different Carpet Areas!

The room sizes of the 2 BHK Flat on Even & Odd Floor are same but the carpet areas are different!

Though the Room Sizes are same, the Carpet area of a 2 BHK Flat on Even Floor (826 - 863) is more than the carpet area of odd floor (795 - 796)!

Isn't it amusing?

The carpet areas of the flats on even & odd floors are always same. But look what happens when 'fashion meets technology' - principles of civil engineering become out of fashion!

9) Ready for Possession 2 BHK & 3 BHK Flats in Malpani Greens Wakad, Pune:

Only a few 2 BHK & 3 BHK Flats are available in the A Building of Malpani Greens (www.malpaniestates.com).

Property price of a 2 BHK Flat - 863 Carpet + 29 Dry Balcony + 72 Terrace - is Rs. 83 Lakh onward. Living of this 2 BHK Flat is 14' x 21' 3", Kitchen 10' 9" x 8' 6" & Master Bedroom 15' 9" x 11'!

A 3 BHK Flat - 1,140 Carpet + 43 Dry Balcony + 72 Terrace - is Rs. 1 Crore onward. Living of this 3 BHK Flat is 14' x 23' 9", Kitchen 13' 6" x 8' 6" & Master Bedroom 14' x 13'!

These may be the last few 'investment grade flats' in Wakad. Once these are over, you will get only 'F grade' flats!  

10) ICON Group's 2 BHK & 3 BHK Flats at Baner, Balewadi & Wakad, Pune:

I always see ICON Group's (www.icondev.in) stall in 'West of Pune' property exhibition. In this exhibition also ICON Group was present. With the same project - Windsor Residency (at Signet Corner) & Windsor Homes (Recently launched - near Kapil Malhar) at Baner, Sadafulee at Balewadi & Windsor Park & Windsor Apartments in Wakad. Offering 2 BHK & 3 BHK Flat in the obvious property price range.

Only a 1 BHK Flat for 44 Lakh at Sadafulee was a pleasant surprise!

11) 9 Ka Dum (Power of 9) at Wakad, Pune:

When a builder, Mr. Sanjay Agarwal, whose lucky number is 9, decides to build 81 flats on survey number 108 - he names it Fortune 108 Wakad (www.fortunegroups.co.in).

Fortune 108, located opposite Sukhwani Sepia, has a few almost ready - early possession - 2 BHK (57 - 68 Lakhs), 2.5 BHK (72 - 75 Lakhs) & 3 BHK (93 - 105 Lakh) Flats.

Guess! What would be the name of Mr. Sanjay Agarwal's upcoming 7 acre project of 350 flats - on the border of Sus - behind Mercede Showroom at Baner?

12)  Lavish 2 BHK Flats on Proposed 60 Feet D. P. Road at Baner, Pune:

Orchid Serenity (Mr. Rohan 98600 70059), located off Pashankar Auto to Sus Road, has 2 BHK Flats (75.96 - 77.81 Lakhs) in it's B wing (Possession of A Wing is already handed over!)

Saleable areas of these flats (with 3 terraces) are 1046 / 1073. So the builder, Mr. Yashwant Nimhan, calls them lavish(!)

Possession of these 2 BHK Flats is in June 2014.

Can you guess when the 60 feet D P Road which will connect Orchid Serenity to service road of Mumbai Bangalore Highway somewhere near Kumar Pinakin (which has divine toilets) in Baner will be ready?

13) December 2014 Possession 3 BHK Flats in Lotus & Lily at Pimple Nilakh, Pune:

Lotus Lily (www.horizonshelters.com) has 2 buildings. One of 2 BHK Flats and the other of 3 BHK Flats. 2 BHK's building is ready, possession handed over and occupied.

12 story 3 BHK building had permission to construct only 8 floors. So, the builder, Horizon Shelters Pvt Ltd, constructed 8 floors and waited for the sanctions. In the long waiting period, the builder did the internal work - tiling, plumbing, electrical & kitchen platforms etc.

After a long wait, recently, PCMC sanctioned the 9th, 10th, 11th & 12th floors. Construction of these floors would be ready by December 2014 and the possession of the entire building would be given.

There are only 2 units of 3 BHK Flats on one floor. Now, some 18 flats are available for booking - 8 flats on 1st to 8th floor + 6 on recently sanctioned 9th, 10, & 11th floors.

Carpet area of these 3 side open 3 BHK Flats is 1074 - 1086 sq.ft. Each flat has 2 attached terraces. Living (Only Living. Not Living cum Dining.) is 12' x 18'. Dining is separate with Kitchen. Master Bedroom is 15' 9" x 12'.

"As per Times Property our's is the lowest rate in Pimple Nilakh. Only Rs. 5,600 per sq.ft. So, though the saleable area is around 1509 - 1640 - our 3 BHK Flat fits in a budget of Rs. 99 lakh to 1.09 Crore only!," Sudhakar, sales executive, 87 93 79 58 12, said.

For the 2 BHK Building, Lotus & Lily has received PCMC water connection. But water supply is not enough. Only 3 hours in the morning. So, PCMC water is used only for drinking. For use, builder supplies tanker water. Along with the 3 BHK Building water recycling plant & rainwater harvesting plant would be ready. So, the dependency on tanker water may be reduced.

On an adjoining plot of Lotus & Lily, soon, Horizon Shelters is coming up with a single stand alone building of 2 BHK Flats for approximately 50 Lakhs!

14) You know? Flats are available in Welworth Paradise Baner & Tinsel Town at Bavdhan!:

In the last 8 months Mr. Mahesh, sales executive, 83088 06006, has sold 4 - 5 flats every month. Now, only 4 units of Ready Possession 2 BHK Flats (70.43 - 87.77 Lakhs) are available (No Service Tax No VAT. Completion & Occupancy Certificate Received.) in A & B Wings of Welworth Paradise in Baner (www.welworthrealty.com). Of course, there are quite a few unsold flats  available in under-construction C Wing.

At Welworth Tinsel Town (www.welworthrealty.com), behind Maratha Mandir at Bavdhan Khurd in PMC, 11 & 10 story 2 wings are under construction. 85 per cent work of these towers is done.

In these 2 wings - 1 wing is of 2 BHK Flats - property prices are from Rs. 79.35 to 81.5. Plus, there are couple of Garden 2 BHK Flats on the first floor - property price Rs. 85.25 - 86.71 Lakhs.

Property prices of under construction 3 BHK Flats in Tinsel Town Bavdhan are Rs. 1.13 - 1.27 Crore only.

It means that Welworth may participate in the next exhibition too.

15) Somatane Phata - For the First Time Home Buyer in Hinjewadi

Hillock Towers at Somatane Phata (www.artharaj.com) was launched a year ago, at Rs. 2800 - 2900 per sq.ft.. Today, property rate is Rs. 3,450. Seven slabs are cast and brick work of 5 floors is done. 75 - 85 % flats are already booked. Mostly by IT Professional from Hinjewadi & Talawade. Only a few 1 BHK (26.5 Lakh Onward) & 2 BHK (43.76 & 46.13 Lakh Onward) Flats are available for booking.

When I said," How sad! IT Professionals can afford to buy flats only in Gram Panchayat -  at Somatane Phata"

"No! Soon, Somatane would be merged in PCMC!!,"  sales executive said.

Hillock Towers is approved by LIC, HDFC & India Bulls.

16) Special Offers - Discounted Property Price & Free Registration & No VAT!

At 'West of Pune' Property Exhibition, Swaraj Pride Punawale (www.swaraajdev.com) was offering special discounted property rate - Rs. 3,950 & 4,100 for it's 1 BHK & 2 BHK Flats.

Ace Almighty (www.acealmighty.com) at Wakad, behind Indira College, was offering  - Free Registration & No VAT!

It was nice to see a small crowd at the stall of Surya Vaibhav (www.suryagroup1.com) offering 1 BHK (35.24 - 40.84 Lakhs) & 2 BHK (53.08 - 61.9 Lakh) Flat.

Current Property Prices & Availability in West of Pune:

Related Stories:

1) Friday, February 7, 2014

Upgrade to Metro Jazz, Baner Annex, Pune!

2) Thursday, January 23, 2014

Enjoy 1 - 2 ka 4 & 4 - 2 ka 1 with Credai Pune Metro

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Friday, February 7, 2014

Welcome to the Age of the Upgrade!

Be Selfish!

Whenever an old friend or a relative meets me, he requests for a tip on investment opportunities in Pune real estate market. Except my cousin Sunil. Sunil has never asked me. We never talked about properties or property prices in Pune!

True, since I have started blogging on Pune real estate market, Sunil hasn't purchased or invested in a property. So what? People love to talk about property. As much as people love to talk about cricket. Even those who don't play cricket or invest in property love to talk about it. Particularly when you meet an expert!

If Sunil had just showed curiosity about my Ravi Karandeekar's Pune Real Estate Market News Blog and my 3 minutes free advise on 919860044110, I would have felt good. I would have been sure that Sunil recognizes my authority and expertise.

When Sunil's nonrecognition became unbearable, I decided to take initiative. One day, I started talking about some newly launched projects in Pune. And you know what? Sunil showed interest!

"Glad to know that you are interested in investing in real estate!," I said. Yes, I avoided to say - How desperate I was for your recognition, Sunil!

"No! I am not interested in investing in property. I am interested in investing myself. Is there any better investment option than me?," said Sunil.

"Certainly not! You are the best, Sunil!," I said. Yes, I avoided to say - When will you accept that I am also as good as you are? Sunil, when will you accept that achieving a status of an authority on Pune real estate - is a big achievement!

"Now, I want to upgrade my lifestyle. I want to buy a better home for me," said Sunil.

"Done! How many BHKs? What is your budget? Any preferred location?," desperate to demonstrate my expertise, I asked.

"Come on! Again you are talking about property! You can do better than this. Mr. Ravi Karandeekar, help me to upgrade my lifestyle - help me to upgrade my home - don't talk like 'property adviser' - think like 'the lifestyle up-gradation expert' - I am a selfish man. I want to upgrade me! I have a one point program - 'Be Selfish - Keep on Upgrading Yourself'!," said Sunil. Click to Read More