1, 1.5, 2, & a 3 BHK Flat for someone who can't afford to own a flat:
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| Mr. Swapnil Pharat, Assistant Manager - Sales, & Ravi Karandeekar |
I visited Mantra Properties' Park View at Chavan Baug in Dhayari on Sinhagad Road. It was Saturday, the first day of 'Sabse Saste 7 Din' offer. Around 1130 am, I reached the site sales office. I was the first visitor of the day. I left around 1 pm.
When I was leaving, I saw a young couple climbing a small mountain on which the site office was located. I felt very sorry for the young couple. Because, I was almost convinced that flats in Mantra Park View are for those who can not afford to own a flat.
Why do want to own a flat when you know well that you can not afford to buy one? I wanted to ask the couple. But couldn't ask because I was already late for my next appointment.
Hey young couple! You are too young to own a home. If you work & save for a few more years, you will be able to own a real home. Not something which looks like a home. Why rush and buy inferior property today? You know? Getting a home loan is easy - but repaying a home loan is tough. It drains you financially. It affects your entire life. I went on talking with myself.
An inferior property! Ravi Karandeekar, how can you say that a flat in Mantra Park View is an inferior property?
Don't you remember what Mr. Swapnil Pharat, Assistant Manager - Sales, said?
Swapnil said - "Park View is a premium property!"
Oh! Yes!! Swapnil also told me that most of his flat buyers are in their 30s. Hard working salaried class who are eligible to get a home loan to buy a 37 lakh rupees 1 bhk flat - 48 lakh rupees 2 bhk flat & 65 lakh rupees 3 bhk flat with a car park!!
If these guys can really afford to buy - why would have Mantra Properties offered a rent till possession - 5,500 for a 1 bhk - 8,000 for a 2 bhk & 9,000 for a 3 bhk flat? I asked myself.
It means that Mantra Park View is about the people who are in their 30s.
Who may be considering themselves as inadequate human beings
- who couldn't own a home in their 20s.
If I don't book today - I may never become a homeowner in this life
- this thought may not be letting them sleep.
Defeated souls who are trying to prove that they are not losers.
Ready to book whatever looks like a flat.
Glad to become a slave of a bank for life.
But, this is psychological!
Based on the popular self defeating belief.
Homeownership is an ultimate proof of a successful human being.
Which is not true!
That's why the brochure & website of Mantra Park View does not have floor plans.
The message is clear - you are not buying a flat.
You are buying a false feeling of homeownership.
What say you?
Why do most of us buy a home?
If we were really buying a home to live in it - we would have bought a home in which we can stay comfortably. Right?
Please, share your views in the comments.
A few photos of Mantra Park View, Dhayari:
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1) Adult Babies Are Rushing to Book Flats at Palm Atlantis, Wagholi!
2) Bikini & Bermuda Homes on Sinhagad Road, Pune
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"That's why the brochure & website of Mantra Park View does not have floor plans.
ReplyDeleteThe message is clear - you are not buying a flat.
You are buying a false feeling of homeownership."
Sorry Ravi, You are completely wrong! The website provides ALL the info an average IT engineer is looking for...
Location (Location, Location!)
Amenities(5 star as per the pictures, of course!)
Price (or a fraction thereof)
Area (Carpet or Built-up or Super-Built up, who cares!!)
The average IT engineer does not care about stupid things like floor plans, approvals, firm possession date, itemized charges or even if the builder is solvent.
After all, he is a reputed builder (OMG!!! He even has a website!! So Modern!!)
Stupid people like me ask for a copy of the project documentation file with all sanctions and template agreement before handing over the booking amount cheque and are (figuratively) kicked out of the builder office!!!
Very true. Investors & yedas made builders more & more greedy of which effects are already being seen. Since you talked about IT, here's one more news which will push real estate prices further down in cities like Pune, Bangalore.
DeleteIT automation: Taking toll on jobs and fresh hiring -
Last year Infosys Ltd is reported to have automated as many as 9,000 jobs with the company reporting the release of as many as 2,700 workers from automated jobs in the third quarter alone. The software business at Wipro Ltd is reported to have seen as many 4,500 jobs automated last year.
http://indianexpress.com/article/business/companies/it-automation-taking-toll-on-jobs-and-fresh-hiring/
a.) "37 lakh rupees 1 bhk flat - 48 lakh rupees 2 bhk flat & 65 lakh rupees 3 bhk flat with a car park!!"
ReplyDeleteb.) "If these guys can really afford to buy - why would have Mantra Properties offered a rent till possession - 5,500 for a 1 bhk - 8,000 for a 2 bhk & 9,000 for a 3 bhk flat?"
Now from a. & b. points mentioned above, is it even worth buying the flat even if it's offered for 50% the price when compared to rents in that area ? Those who still buy happen to be financially dumb or emotional fools.
Hopefully, the number of such people are falling which is reflected in poor sales of flats in Pune as well as builders going bankrupt one after another.
"Getting a home loan is easy - but repaying a home loan is tough. It drains you financially. It affects your entire life."
- Agreed but yedas don't understand this. Add to this the poor infra which hardly is considered by yedas. See today's news which talks about various areas of Pune & projects having acute water shortage. No PMC waterline & ground water drying up leading to complete dependency on water tankers.
http://punemirror.indiatimes.com/pune/civic/ground-realities/articleshow/58350406.cms
And see how sales are crashing further, including that for city like Pune -
Mumbai property market: House registrations dip to 6-year low -
http://www.financialexpress.com/economy/mumbai-property-market-house-registrations-dip-to-6-year-low/639354/
Home buyers wait and watch as realty sales halve in Mumbai, Bengaluru, NCR, Pune -
http://www.business-standard.com/article/companies/home-buyers-wait-and-watch-as-realty-sales-halve-in-mumbai-bengaluru-ncr-117042400068_1.html
And this news show how Pune & PCMC builders are trying to con flat buyers by luring them with various scheme so that they book flat before RERA & further major price fall -
‘रेरा’आधी घरे खपविण्याचे प्रयत्न -
पुणे, पिंपरी चिंचवड शहर व परिसरामध्ये मोठमोठय़ा प्रकल्पांमध्ये अनेक सदनिकांची विक्री झालेली नाही.
http://www.loksatta.com/pune-news/builders-try-to-sell-flat-before-implement-of-new-real-estate-law-1459691/
Wonderful blog!!! I liked the complete article…. great written,Thanks for all the information you have provided…
ReplyDeleteThe Maharashtra government on Friday released its final Real Estate (Regulation and Development) Act rules, which have been largely welcomed for being pro-consumer, anti-discriminatory and strict on developers.
http://timesofindia.indiatimes.com/city/pune/state-releases-pro-consumer-rera-rules/articleshow/58308782.cms
Pleas find below link for "Final rules under RERA notified by State of Maharashtra on April 21, 2017".
http://naredco.in/notification/pdfs/RERA%20Final%20English%20Registration%20Rules21042017.pdf
Really nice article. more than the review about property I like the way you touched and explained why people rather young boys/girls are running to buy the property in there early age.
ReplyDeleteI have also visited few of the Mantra project, however noticed that builder is presenting the wrong way of calculation of loading and unloading.
As per Mantra - salable area (100sqft)-loading 30% (30sqft)= carpet area(70sqft) which is reverse calculation and its wrong.
whereas it should be Carpet Area (70sqft)+ loading 30% (21sqft) = salable area (91sqft)
So instead of 91sqft Mantra is charging for 100sqft and fooling people by the way of low rates, zero emi, low interest rate etc.