All Inclusive Approximate Property Prices of 2 BHK Flats
670 sq.ft. Carpet (Approximate) + Terrace
Ready Possession - Rs. 76.29 - 78.29 Lakhs
Early Possession - Rs. 79.21 - 87.63 Lakhs
at Shah Bafna Associates' Costa Blanca www.costablanca.co.in
Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038
Contact: 88888 10191 / 92 / sales@costablanca.co.in
Every Property Buyer Must Get Dividend:
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| Mr. Rohit Shah - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
"Appreciation" is not enough. You must get more than that. Every property buyer must get dividend.
Appreciation means an increase in value of a property.
You can encash appreciation only when you sell that property.
It means that, you won't earn anything from your investment if you decide to use that property as your permanent residence.
This is unfair.
You must get financial reward from your investment.
Because property rates go up - property appreciates - only because of you.
We all know that your bookings empower the builder to hike the property rates.
That's why you should get the reward for your contribution in hiking the property rates and earning profits.
You should get a piece of increased property price.
Builder must share a part of his increased profit with you.
You must get dividend.
Dividend of 1st Phase of Costa Blanca Baner:
For example, in July 2011, when Costa Blanca opened the pre launch offer of the flats - on 1st, 2nd, 3rd, 4th, 5th & 6th floors - property rate was only Rs. 4,300 per sq.ft.
Today, the current property rate of the same ready possession flat is Rs. 6,750 per sq.ft.
It means that in the last 3 years - from July 2011 to July 2014 - property rate of the same flats in Costa Blanca are appreciated by Rs. 2,430 per sq.ft. (Rs. 6,750 - Rs. 4,300).
Out of these 2,430, Shah Bafna Associates, the builder of Costa Blanca, should share Rs. 1,215 per sq ft with the original property buyers.
As per the property price list, today, approximately 15,741 sq.ft. in 16 units are available for sale.
It means that, the builder of Costa Blanca should distribute Rs. 1,91,25,315 (15,741 sq.ft. x Rs. 1,215) among the original flat buyers.
Dividend of 2nd Phase of Costa Blanca Baner:
The Costa Blanca at Baner is a unique housing project. At Costa Blanca not only the property rates but the carpet areas of the flats have also appreciated!
In the first phase, flats on the 1st. 2nd, 3rd, 4th, 5th & 6th floors were opened for booking. Whereas, now, in the 2nd phase flats on 7th, 8th, 9th, 10th & 11th floors - of the same buildings - are available for booking.
As per the floor plans given to me, the carpet areas of these flats on 7th to 11th floors are more than the flats on 1st to 6th floors!
Now, in the 2nd phase, total saleable area available for booking is approximately 20,300 sq.ft..
The current property rate of the 2nd phase is Rs. 6,550 per sq.ft..
It means that the appreciation is Rs. 2,250 per sq.ft. (6,550 - 4,300).
Out of this 50 % profit - @ Rs. 1.125 per sq.ft. - should be distributed among the flat buyers in the 1st phase.
Means, Shah Bafna Associates should distribute Rs. 2,28,37,500 (20300 sq. ft. x Rs. 1,125 per sq. ft.) among the flat buyers in the 1st phase of Costa Blanca.
Dividend - Cementing Relations Between the Paymasters & Service Provider:
It means that, the builder of Costa Blanca Baner should distribute Rs. 4,19,62,815 (Rs. 1,91,25,315 of the 1st Phase + Rs. 2,28,37,500 of the 2nd Phase) as a dividend among the flat buyers in the 1st phase.
Certainly, this dividend is not a compensation. This dividend is just a token of appreciation. It's just a builder's way of thanking the paymasters - property buyers.
For a fact, the builder could develop Costa Blanca only because, in 2011, these property buyers took a risk of borrowing money from the banks to invest in this project. Eventually, these flat buyers had to invest lot more than money. They invested their lives, careers & mental - emotional health. And, subsequently, suffered a lot.
Certainly, the builder of Costa Blanca also did a good job. Though he took more time, he completed the 1st phase, got completion & occupancy certificate, water & power connection,
Result is - as a construction service provider he is getting more profit than he actually deserves.
All because of the flat buyers in the 1st phase!
By sharing a portion of extra - unexpected profit - appreciation - with the flat buyers in the 1st Phase of Costa Blanca, the builder will be able to cement their relations.
The builder will be able to ensure that he will remain in this business for a long time. And as long as he will be in this business, these property buyers will support him.
After all, in the last 3 years, no development has happened in the neighbourhood of Costa Blanca. Even today, there is no proper approach road to the project.
The possession of the 2nd phase is early, but a lot of work is still pending.
Who knows? The builder may need 6 - 10 or even more months to hand over the possession of these flats.
It means that the flat buyers who booked in 2011, will be investing 4 years of their lives in the completion of Costa Blanca Baner!
The moral of the story is, the support of flat owners in the 1st phase of Costa Blanca is crucial.
Their contribution in the successful completion of Costa Blanca is valuable.
Certainly, the flat owners in the first phase of Costa Blanca Baner deserve dividend.
A builder must share a portion of profit with the property buyers:
The other day, Mr. Rohit Shah, son of Mr. Ramesh Shah, one of the partners in Shah Bafna Associates, developers of Costa Blanca at Baner, invited me to the site. Rohit has done MBA from United Kingdom. From conceptualisation to possession, Rohit is responsible for Costa Blanca. While explaining how he successfully handled this challenge, Rohit said that - I put myself in the home buyer's shoes.
That's great! While reviewing Costa Blanca Baner - Why shouldn't I do the same? I asked myself.
When I put myself in the shoes of flat owners of the 1st Phase of Costa Blanca, I realized that they should get the portion of Rohit's profit. They deserve dividend.
Thanks to Mr. Rohit! Now, I am convinced that - not only the flat buyers in the 1st phase of Costa Blanca, but every property buyer who books at the launch or initial stage of any project in Pune real estate market should get the dividend - should get the portion of profit in cash.
Because, appreciation is not enough. You deserve dividend.
How Am I Doing Mr. Rohit Shah?
What say you, dear home buyers?
Please, share your views in the comments.
Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038:
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| Children's Play Area & Ramp - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| 2 Level Parking - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Main Entrance - opposite Gera's Regent Park - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Driveway from club house - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Parking & Landscaping on the podium - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Incomplete Cement Concrete Road to Mumbai Bangalore Highway - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Dirt Road to Mumbai Bangalore Highway - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Incomplete Cement Concrete Road to Baner Road - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Incomplete Cement Concrete Road to Baner Road - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Club House & Children's Play Area - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Split AC for Master Bedroom - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Plumbing lines in the duct - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Attached Terraces - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Floor Mounted Commode - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Three tracks - powder coated - aluminium sliding window with mosquito net & M.S. safely grills - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Power Backup & Easy Cloth Drying System - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Water Purifier, Modular kitchen with hob & chimney - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| Modular kitchen & Dry Balcony - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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| 8 Feet Door - Slab to Slab 10 Feet Height - Visit Shah Bafna Associates' Costa Blanca - 2 BHK Flats at Sr. No. 38/1/93 Baner, opposite Gera's Regent Park, Pune 411038 |
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Thanks Ravi. For understanding we Costa Blanca homebuyers pain.
ReplyDeleteThe first of its kind project where builder make 1-6 floor slabs ready and get 95% of the amount at the time of booking. With promise of early possession as the project is already near completion (6 floors), with our 95% paid money he stall the project for next 18 months to get approval of second phase. And as as soon as he get approval for second phase he has his completion certificate ready for first phase with all construction activities including slabs from 7th ongoing in progress.
To avoid any legal conflict he is ready to give possession with construction ongoing of our head as he has completion certificate. (Which he manage to get with our efficient municipal cooperation)
So our deviant was to put our family and kids life at risk with bonus of health hazards with lot of dust cement no proper access to our flat. No lights in society no roads and that too with attitude of Mr. Shah as if he had made Mercy on the flat buyers. After more than 12 months delayed possession.
Dear Ravida, Problem is in the system where the local authorities allows official completion in this way, where above floors are yet to be build! Actually part completion was meant for layout of buildings were the developer is supposed to complete the projects phase wise! Btw I wonder what about lift & fire fighting services when just 6 floors are compete & given occupation! Again most of the time the flat-holders rarely gets united against a builder for their rights & approach the authorities , it does work, just ask them to try it! Remember we avoid raising our voice for what has been committed to us & this builder knows & thats why they can take flat holders granted & get away with such acts!! Ur point of dividend is intrusting!!
ReplyDeleteCongratulation Shah- Bafna for completing 5 years of "In Progress" Project for Costa Blanca, Project is still not completed including the basic amenities, Swimming pool is still waiting for water, Lift are still not working, Gym Not operational, Club house still distance Dream, cameras not installed, video door facility not completed, the list is long.......and we flat Owners are still unanswered for the completion dates, after daily follow with up the builder, without any response as if he is not responsible.
ReplyDeleteI am afraid whether builder is still waiting for permission for few more floors to construct.