Is it the next 'Urban Wonders' of World?
Yesterday morning I realized that I couldn't update Ravi Karandeekar's Pune Real Estate Market News Blog. I have given my laptop for repairs.
"What would you like to do Mr. Ravi Karandeekar?," I asked myself.
"I would like to treat myself with Bhairavnath Misal at Wagholi," I told myself & took Hadapsar Wagholi via Manjri Awhalwadi Bus.
As usual the bus was overcrowded at Gadital itself. No one was getting down, still at every stop new people were boarding.
Somehow the driver managed to cross the causeway on Mula Mutha River safely.
Suddenly, after a kilometer from Manjri Khurd on Awhalwadi Road the bus stopped. Everyone got down.
"Are we stopped to take a leak?," I asked the bus conductor.
"It's not a piss stop. It's a pray stop. Every traveller on this road takes this stop. Get down and pray for the wonder of God - Daivi Chamatkar - Miracle," the conductor said.
"Chamatkar - Miracle? Where?," I asked.
"Look there....isn't it a miracle?," the bus conductor asked.
"Yes, it is!," I said and joined other praying passengers.
When I opened my eyes, I realized that I was left alone. The bus has gone. But I didn't mind. I started walking. Not towards Wagholi. But towards the wonderful miracle.
"What is this wonder of God called?," I asked the first man I came across.
"It's a man made wonder. It's urban wonder. Uneducated villagers believe that it's god's spectacular miracle. But among the IT engineers at Eon IT Park Kharadi it is known as KUL Nation," the man said.
"Do these IT engineers worship & pray like uneducated villagers?," I asked.
"Yes! They do. Wonder is wonder. Everyone finds it amazing - marvelous," the man said.
"True. It's amazing. Who is the creator - God or Man - doesn't matter!," I said.
Visit this link for more photos - https://goo.gl/photos/shW1XLFiFwxhDVrWA
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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.
My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.
If you want my advice, feel free to call me on 919860044110. First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.
Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .
For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:
Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001
Glad to know that the property rate is affordable and plan, amenities & open space looks good, Pawan.
ReplyDeleteWill you please tell me what do you exactly mean by affordable rates, and good looking plan - amenities - open space?
Without the exact information how can you & I can say anything about buying a flat in this project?
Better go deep and learn more about the property you are interested in, Pawan. Be an adult. Be responsible.
So many years have passed & still this is the stage of KUL Nation ? Proposed roads had already vanished, proposed merger with PMC limits (don't know how many yedas must have bought flat based on this) is not happening, & builder is bankrupt.
ReplyDeleteThis is yet more example which shows how greed to make money by buying anything, anywhere can backfire. And for those who bought for self use, this is the problem in buying under-construction flat.
Ravi, any update on KUL Ecoluch ? And yes, the defamation case filed against you & flat buyers by crook KUL builder LK Jain ?
Property prices fell due to cash crunch following demonetisation and could further decline, says Chief Economic Advisor Arvind Subramanian -
http://www.moneycontrol.com/news/wire-news/demonetisation-aimed-at-bringing-down-real-estate-prices-cea_8386121.html
There is one major thing which went unnoticed in budget of yesterday - bringing flat hoarders tax benefits at par with that of end users.
Now, hoarders too will get tax deductions of upto 2 Lakh & not as much as the interest paid which was the case till date which lead to investors buying flats just for the sake of tax benefits. With this benefit gone, buying flat has become loss making for investors. Which means property prices will crash even further, which is good thing for end users who are suffering due to greed of builder-investor duo.
Cash transactions above 3 Lakh has also been banned.
The Union budget 2017 has severely curbed the tax benefit on the interest paid on housing loans in case of properties that are rented out or are 'deemed let-out'. The budget proposes to restrict the loss on house property that can be deducted from 'other heads of income' such as 'salary income' to Rs 2 lakh only, says EY. Currently there is no limit on the amount of this loss that can be set off against other heads of income.
http://economictimes.indiatimes.com/wealth/tax/claiming-home-loan-interest-tax-break-on-rented-house-budget-2017-has-bad-news-for-you/articleshow/56914446.cms
Given that the real estate market is set for a correction, it's probably best to wait and buy when home prices fall anyway.
According to ratings agency Fitch, weak demand and declining sales could force a correction in property prices in 2017
http://www.huffingtonpost.in/2017/02/03/this-is-how-budget-2017-will-make-owning-a-second-home-a-loss-ma/
1) So many years have passed & still this is the stage of KUL Nation? - This proves that - IT Engineers in Eon IT Park Kharadi are as stupid as IT Engineers in Hinjewadi!
Delete2) Ravi, any update on KUL Ecoluch ? And yes, the defamation case filed against you & flat buyers by crook KUL builder LK Jain ? - Posting in the next week.
Delete3) bringing flat hoarders tax benefits at par with that of end users - Good initiative. Thanks for sharing, TheMonk!
Delete4) Given that the real estate market is set for a correction, it's probably best to wait and buy when home prices fall anyway - I completely agree with you, TheMonk!
DeleteThank you for answering the questions Ravi.
DeleteMaybe you should now compile a list of Ghost projects of Pune on lines of ghost cities of China ! Lot many will be on list, including projects which are abandoned & builders absconding.
Unsold real estate units touch 2.55 lakh in Mumbai Metropolitan Region -
http://www.hindustantimes.com/mumbai-news/unsold-real-estate-units-touch-2-55-lakh-in-mumbai-metropolitan-region/story-xnlU6dFOdTK2xfMXS3sZJN.html
Thank you Ravi sir for very helpful article.
ReplyDeleteKumar builders are one of the best builders in pune
ReplyDeleteStill they have given hopeless service like this
Hi Shekhar,
DeleteIt is not Kumar,it is Kumar urban limited.
Kumar builder is still very good.
@ravi sir
I am one of unfortunate buyers of kulnation.
Can you please suggest what I should do now.
It's getting delayed day by day and this builder is really pathetic.
They did not provide any information.
Very sad to have bought a flat here.
Dear Satya, please, when you can spare 40 - 45 minutes, please, call me on 91 9860044110.
DeleteSir is am also one of unfortunate customer who has brought a2.5bhk and still it is in excavation stage from last 3 yrs. What should I do
DeleteI am also one of unfortunate customers to have brought a flat here 1 BHK, Its utterly frustrating to see the project in this status.
DeleteWhat are the options here.
What are the options here, Is there any hope of recovering the money?
Deletesir even i have purchased a flat in KUL NATION. DONT KNOW WHAT TO DO. PLS HELP
ReplyDeleteSir, even I have purchased in T4 tower.
ReplyDeleteNow, they say that they don't have money to complete the project n they have sell the project to Baner based company, whose market cap is just 5lakh. Now don't know what to do. Is rera helpful in this