'Group Booking' is more than 'Discounts on Property Prices'!
Recently, an interesting development took place in Pune real estate market. Some 80 people formed a group. To own a home of their choice - within their budget - at a convenient location for them. The group identified a plot. But the plot was too big. Now, what? One more group of 140 people joined them. And a 220 flats group booking project was finalized.
Sanjay Deshpande of Sanjeevani Developers & Aditya Javdekar of Vilas Javdekar Developers took a lead in finalizing this project. They purchased the plot of land, designed the flats as per the requirements of the groups, and are going to construct the flats within the budget set by the group.
I was a little disappointed when I came to know that the location of this 220 flats group booking project is Sus. Because for me Sus means struggling for survival. I do not see any point in buying a home in a fringe village where basic urban infrastructural services - road, water, drainage, garbage, safety security, storm water management - are not available. Particularly when in the same price we can own a home where all these basic services are or would be available.
But I liked the idea of group booking project. I have always liked it. I have seen good & bad - both sides of group booking project. I have seen Sanjeevani Developers' last group booking project - Davbindu at Sus. I have seen the tragedy of Aarohi at Sus. Both examples have strengthened my belief that a group booking project is the better way to own a home.
Investing your time & energy in forming a group, finalizing the deal with the builder, supervising the construction is more productive than fighting with the builder or filing a case in the consumer court for possession, construction quality & amenities.
In the current market situation, group booking project is a safe deal even for the builder. Yes, the profit would be less, so is the risk. Assured booking, assured cash flow, less marketing expenses, construction in full swing means blessings.
Group booking housing project is, for sure, a win win scheme for the flat buyers & the builder!
So, I requested Sanjay Deshpande of Sanjeevani Developers to share the tips for group booking. Have a look -
Related Stories:
1) In 2016 - where to book a flat in Pune real estate market? (Part 1)
2) In 2016 - where to book a flat in Pune real estate market? (Part 2)
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Hi Ravi, did you get any idea how much the flat is actually going to cost for the buyers? I mean per sq. Ft.
ReplyDeleteHi soul, it depends on where & at what stage the group booking happens, like at dawabindu in sus the current ongoing then rate was some 4100 per sft & these people got it at 3400 per sft approx, inclusive everything!
ReplyDeleteThe sooner u form a group & enter the more better rate u can get as the overheads as well startup expenses of the builder got shared so the group can get that benefit is the sheer logic. But u must trust the builder as well check his track record that he will use the money for the same project, thats very much important! As in a a way all eggs u are putting in one basket, so be sure about the basket :)
ReplyDeleteWhen buyers are going to buy almost entire project, when buyers are going to fund entire project, why do they require builder ? Rather than hiring builder, it's better to directly hire ECC or Engineering and Construction Contract companies to do the work. These companies do everything right from start to end. Notable ones are L&T ECC, Shapoorji Pallonji (Tata Sons Group). Infact, builders like Oberoi, Hiranandani outsource their engineering & construction work to these type of companies while themselves focusing mostly on sales & marketing. And then there are contractors turn builders like Sobha, who have built almost all buildings of Infosys, including their Hinjewadi campus, Mysore institute etc.
ReplyDeleteGoing in group to builder may put entire group in jeopardy. Check this Rav's link -
http://ravikarandeekarsblog.blogspot.in/2016/01/Residents-of-Aarohi-Struggling-for-Survival-at-Sus-Gaon-Baner-Annex-Pune-India.html
So when you have people who want to buy flat & you also have money, better to eliminate the builder altogether & become yourself a builder as builder too gets work done from civil contractors on whom buyers don't have any control. If buyer becomes builder, there is no scope for cheating, not to forget lot of cost savings as builder profits will be eliminated. Very good quality construction is another plus point as buyers will be directly dealing with ECC company & laying down their own specifications.
Hi Ravi,
ReplyDeleteI am planning to book 2bhk flat at shriyans or twin arcs by legacy lifespce at punawale. They are quoting around 4500-4600/sq ft. What should be the reasonable rate for the area and which project will be better to book.
Kindly help.
Thanks&Regards
Niraj, Why ask anybody? We are birds. We are free. We make our nest on whichever tree we like.
Delete"We make our nest on whichever tree we like."
Delete- Very important word - Tree (ready possession).
Some people think of making nest on seed by looking at brochure of Kalpvruksha !