Ravi Karandeekar's Pune Real Estate Market News Blog: January 2019

Tuesday, January 22, 2019

Are you curious about Child Centric Homes in Gera's Song of Joy at Kharadi?

Mere emotional appeal?

Last weekend when I saw 2 full-page ads of Child-centric homes in Gera's Song of Joy at Kharadi, I realized that I haven't seen these 'celebrity-led learning academies for sports, performing arts and more designed to help kids pursue their dreams'.

"Ravi Karandeekar, this is not right. How can you ignore Shankar Mahadevan, Shaimak Davar, Anil Kumble, Mahesh Bhupathi, Vishwanathan Anand? Whenever you lift a mug to take a sip of coffee, all of them tell you that 'We are coming to Gera's Child-Centric Homes" Isn't it?"

"Yeah! I got that Mug when I attended the press conference of Song of Joy in May 2014. For me, 'Gera's child-centric homes' was not news. Gera's Emerald City North already had child-centric homes. This time, at Song of Joy, the only difference was the 'celebrity led academies'. It means that 'Child-centric homes' is not an emotional appeal - marketing gimmick - it is a genuine idea. I didn't visit it only because I was waiting for these academies to become operational. Now, I am curious to visit it," I told myself and left for Kharadi.

I got down at Kharadi Gaon bus stop and started walking on the Grand Road.

Mad Millennials?:

"Besides, Celebrity led academies in Child-Centric Homes at Song of Joy, Ravi, you don't know one more groundbreaking concept in Pune real estate market," I told myself.

"Which one?" I asked.

"Guess! I will give you 3 clues - 1) Co-Living 2) Panchshil 3) 30470 per month," I told myself.

"Flo - a next-generation co-living solution for young professionals working in Eon Free Zone - Atul Chordia's latest venture - CoLiving Stories Pvt. Ltd. - at Eon Water Front Phase 2. Right?" I said.

"It means that - Ravi, you don't know anything about today's parents as well as young professionals!" I told myself.

"You got me! I fail to understand Millennials - people born between 1981-1996 - 22-37-year-old. If you care so much for the future of your child - instead of buying 80 - 130 Lakh Child-Centric Home - why don't you rent a flat for 30 - 40 K and save money for your child's education? If you can afford to pay 30,000 per month - instead of Co-Living with flatmates - why don't you rent a flat and live independently? I need to understand. I need to visit both," I said.

Crisil 4 Star Rated Guardian Eastern Meadows:

Around the marketing office of Gera's Song of Joy, Gera's Misty Waters at Keshav Nagar was advertised. At the entrance to the office, some alteration work was going on. One of the sales persons at the gate welcomed me.

"I am curious about your 'celebrity led academies'. When can I visit?" without wasting any time, I asked him.

After the visit was arranged, I asked him "Since you don't have anything to sell in Song of Joy, why did you release 2 full-page ads in the newspaper?"

"Branding! To promote 'Child-centric concept'," the salesman said and added that "Selling is not a problem for us".

"Why?" I asked.

"In the last few years - Gera brand has become very powerful. Plus, the progress of construction is very good, and we have a highly motivated sales team. You know? There was a queue for booking flats in Adara at Hinjewadi - not only that - office and retail spaces in Imperium Rise at Hinjewadi are almost sold out. Soon, we are launching office spaces in Imperium Alpha Kharadi - just across the road," the salesperson said.

Whatever he was saying was all music to my years. With great joy, I took his leave.

In that joyful mood, you know what I did?

Though it was almost dark, I stopped at Guardian Eastern Meadows! (Otherwise, I don't dare to visit CRISIL 4 Star rated projects.)

"Are any flats available for booking?," I asked the salesperson.

"Yes! In the 2nd phase. 2 BHK for approx 67 - 70 and 3 BHK for 98," pointing at the property price list, he said.

"Good for you!," I said. Eastern Meadows was launched in 2015. At that time, cost of a 2 BHK was around 58 Lakhs and a 3 BHK was for 80. The possession of the 1st phase was in December 2018. Now, the revised possession date is December 2020. It means that the sales persons in Eastern Meadows will remain busy for a few more years. Good for them. Isn't it?

What say you, millennials?

Please, share your views in the comments.

Photowalk of Kharadi:

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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.

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IFSC- MAHB0000001

Thursday, January 17, 2019

Housing society redevelopment training workshop

Teamwork makes the dream work:

Housing society redevelopment training workshop

My 3 part Marathi YouTube videos series "How to do a successful redevelopment of your Co-Operative Housing Society" with Advocate Mahesh Gajendragadkar has become very popular. Every other day, someone who has watched the videos calls Mahesh on his mobile 91 90110 1118 and invites him to his society. "I have learned a lot about the redevelopment process from your videos. Now, I want you to come to my society and teach all the members" - the caller requests Mahesh.

Sometimes, Mahesh told me that, the caller is not a Chairman - Secretory or even a managing committee member. Still, he takes an initiative because he has realized the importance of following the legal procedure of redevelopment.

It means that there is someone like me in every housing society! I said.

Yes, there are! Mahesh said and invited me to attend a meeting of Janak Society at Badlapur last weekend.

I have seen Mahesh's public seminars on redevelopment. But I have never attended his private training workshop for the society members. That's why I was curious about it. Plus, like my society - this Janak society was small. A single standalone building of some 20 flats. So, I thought that I can learn a lot from this workshop and took the trouble to go to all the way to Badlapur.

After attending Mahesh's training workshop I realized 3 things -

1) Every society has its own unique issues. Mahesh has legal knowledge as well as practical experience of redevelopment - that's why he can address these unique issues quite well.

2) For successful redevelopment, unity is very important. Redevelopment divides society members. That's why in his workshop Mahesh gives a lot of importance to team building. He says - Teamwork makes the dream work.

3) Road map to success. At the end of this 3-hour training workshop, the society members could prepare their own road map to successful redevelopment of their housing society. This was quite a satisfying experience.

To teach the legal way of redevelopment to my society members, I made these videos. And it worked. My society has decided to follow the legal procedure. After attending Mahesh's redevelopment training workshop, I have realized that knowing is not enough. To redevelop my housing society successfully, members training is essential.

1) How to do a successful redevelopment of your Co-Operative Housing Society

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Wednesday, January 16, 2019

Society maintenance charges at Teerth Towers Sus

Don't become a society maintenance defaulter:

Don't become a society maintenance defaulter

I was shocked to see the list of society maintenance defaulters. There were some 17 flat owners. The total unpaid/overdue maintenance charges were around 10 Lakh Rupees. And this was a list of only 1 building. There are some 320 plus flat buyers in some 6 buildings plus a couple of bungalows in Teerth Towers at Sus Gaon. Guess! What would be the total number of defaulters and unpaid maintenance charges!!

How can a co-operative housing society survive when there are so many defaulters? I asked myself.

No. No. Ravi, you don't bother about the co-operative housing society. You are here to find out why Teerth Towers CHS is doing injustice to Mr. Rahul - your reader. Mr. Rahul expects you to take his side and help him to fight against injustice.

"I have already paid 2 years advance maintenance charges to the builder. I took possession of my flat in 2016. Means I don't have to pay maintenance for the next 2 years. Right?" Rahul asked me.

"Right," I said.

"Then how can the society demand maintenance from 2015?" Rahul asked.

"Why from 2015?" I asked.

"In 2015 the society was formed," Rahul said.

"Okay," I said.

"Not only that! The society is charging 21% penalty interest on the delayed maintenance charges!! 21% is so unfair!!!," Rahul said.

"Rahul, but this is 2019. Why didn't you resolve this issue in 2015, 2016, 2017, 2018? Are you facing some financial problems?" I asked.

"Money is not a problem. I am doing well in the USA," Rahul said.

"Oh! The USA is the problem!!," I said.

"No. Society is the problem," Rahul said.

Let me find out, I told Rahul and visited Teerth Towers last weekend. And you know what? As per the defaulters' list, Rahul was number one problem. He was number one defaulter. He hasn't paid since 2015. On 31st December 2018, Rahul's outstanding society maintenance charges were around 1.6 lakhs.

"Is this the case of miscommunication?" I asked the treasurer of Teerth Towers who happened to be at the office.

"Look at this statement. Our communication is in black and white," Mr. Treasurer said.

"But why from 2015?" I asked.

"In 2015 - one fine day - suddenly - the builder stopped the maintenance - withdrew his staff - including the security - so all of us - the residents - flat owners as well as renters - came together and decided to manage on our own - starting with गस्त at night - to protect our families - as much as one can - we pooled our own money - to run the society - then eventually we won the legal battle and formed a co-op society - then we formalized everything and managing well on one side and fighting legal battle on the other side," said Mr. Treasurer.

"But all this time Rahul was not here - so he may be unaware," I said.

"We have informed each and everyone," Mr. Treasurer said.

"But Rahul has already paid 2 years maintenance charges to the builder and he has taken possession in 2016," I said.

"Yes! I know. The builder has given us a list of those who had paid. But he hasn't transferred any money. So, he has to deal with the builder about it. He knows that" Mr. Treasurer said.

"Okay. Why 21% penalty interest on delayed payments? Isn't it too much?" I asked.

"First - It's as per by-laws. Second - You know how much we pay for tanker water? We don't have a water supply line. We don't have a drainage line. We have to run the sewage treatment plant and use tankers to transport overflow. Look at the size of the project and the height of these multistory buildings. Our common electricity bill is huge. Our maintenance charges are too much - still, we collect around 4,000 per month - is it too much?" Mr. Treasurer said.

"Are you repenting?," I asked.

"I am stating facts, please, explain this to Rahul," Mr. Treasurer said.

"Sure," I said and took his leave.

I was very much convinced that Rahul is a dumb ass. Like every NRI. No! He is a double dumb ass. Like every flat buyer who books a flat in a fringe village like Sus, Mahalunge.

"Ravi, this is not fair. You know that Rahul is not a dumbass," I told myself.

"Yeah! Rahul is an ass - not a dumb ass. But, Mr. Treasurer of Teerth Towers is a gentleman. Right?," I asked myself.

"How?," I asked myself.

1) Rahul is an ass because -

Like every flat buyer, Rahul is delusional - he assumes that he is the owner of his flat.

But the fact is - till you don't repay the home loan you are the tenant of the bank.

For a Co-Operative Housing Society (CHS) - you are just a shareholder and a flat holder. An allottee. Not an owner. The CHS is the owner. CHS owns the land. CHS owns the building.

It means that you can enter your flat because CHS lets you use the staircase or a lift. You can take a bath, wash your clothes and utensils only because CHS supplies water to your flat. You can watch TV in your living room only because CHS supplies power.

Just imagine what will happen if one morning you wake up and find out that all floors below and above your flats have vanished in the thin air.

Rahul doesn't understand that he can survive only because he is one of them. So, it is not only about him. It is about all of us. CHS is a collective living. CHS survives because everyone contributes.

That's why - no one can refuse to pay maintenance charges and hold others for ransom. Put others life in danger.

Rahul, accept the reality. You are not a king. You are just a cog in this machine called Co-Operative Housing Society.

When your spouse, parents, and friends tell you - 'Buy a flat' - 'Invest in property' - they are not interested in your well being. They are just fulfilling their duty. The duty of creating debt. Because the economic engine runs on the debt. And CHS creates big debt very efficiently.

Though you live in the USA, you have fulfilled your obligation by buying a flat in Pune. Now, fulfill your duty by paying maintenance charges so that the residents of Teerth Towers can survive.

2) Mr. Treasurer of Teerth Towers CHS is a gentleman because -

As per the By-Laws, Co-Operative Housing Society has tremendous powers. But it looks like that Mr. Treasurer hasn't used any.

For example - Within 30 days from 31st March of every year, CHS can classify a maintenance defaulter as a 'Non-Active Member'. Not only that! If the member hasn't paid society charges for more than 3 months, CHS can confiscate the shares held by the maintenance defaulter and expel him!

A defaulter cannot vote or contest the election of the managing committee. And CHS has all rights to pass the rules about how to deal with the defaulter. Sometimes, some CHS has even disconnected water and electricity supply of the defaulter - which, of course, is illegal. CHS can't do this because this is inhuman. But, of course, CHS can put restrictions on using common parking space, refuse to give NOC - No Objection Certificate - etc.

Under Section 101 of Maharashtra Cooperative Societies Act 1960, a CHS can file a case with Deputy Registrar of Co-operative Societies for the recovery of the dues and get the order to confiscate and auction not only movable goods in the flat but the flat itself.

It only means that Mr. Rahul, the smart NRI property buyer, should not take disadvantage of Mr. Treasurer of Teerth Towers at Sus,

Yes, of course, Rahul can fight for reduced penalty interest, but first, he should clear his dues.

Why only Rahul? No one should become a society maintenance defaulter.

What say you? Am I right? Please, share your views in the comments.

Photowalk of Teerth Towers Sus:

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Monday, January 14, 2019

It's all well and good at KUL Ecoloch Mahalunge

No! It's not about Mahalunge Maan Hitech City!!

Mahalunge Maan Hitech City!

A couple of days ago, Mr. Someone (To protect his identity - I am not mentioning his real name) Whatsapped me good news about KUL Ecoloch.

As per the invitation, I visited KUL Ecoloch last weekend. A few more M/s Someones from KUL Ecoloch (To protect their identities - I am not mentioning their real names) met me outside the main gate. Over a cup of tea, for a couple of hours, they told me everything about the good news.

Not only that! All Mr. Someones put me in their car and gave me a tour of KUL Ecoloch. They showed me the progress and expressed their satisfaction.

Glad to know that they are happy and well, I requested them to let me take some photographs.

"Please, don't blog about the news and the works," they requested me.

"Let the world know that you are doing good.....," I tried to convince them.

"Not now - at the right time - we will let you know!," one of the Mr. Someones said something like this and didn't let me shoot photos.

"As you wish!," I said and took their leave.

So, I have nothing to show and tell you about KUL Ecoloch. Except for one thing - It's all well and good at KUL Ecoloch.

Of course, you can see the photos of Blue Ridge Hinjewadi and the entrance of Khelo India Youth Games at Balewadi Stadium, I shot on my way to KUL Ecoloch.

Some of you may guess that it must be about Mahalunge Maan Hitech City.

No. It is not about it.

It is a little bit about Kumar Builders (the old owner of KUL Ecoloch) and VTP Realty (the new owner of KUL Ecoloch).

But it is more about those 734 plus Mr. Someones in KUL Ecoloch.

And, certainly, not about M/s Sachin, Sapana, Amol and Co who fought for justice.

Entrance of Khelo India Youth Games at Balewadi Stedium

Blue Ridge Hinjwadi from Mahalunge Chande Road

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Saturday, January 5, 2019

I love to visit Sinhagad Fort on Sundays

Jai Bhavani Jai Shivaji:

I take the 5am or 7am bus at Deccan Gymkhana. Get down at Atkarwadi. Start climbing Sinhagad. Generally, in an hour or so, I reach Pune Darwaja of Sinhagad Fort. After a breakfast of Pithla Bhakri, I spend some time at the fort. Then climb down, catch the bus and come home. I love to do this on Sundays.

For me, Sinhagad is 'Me Time'. The time I spend with myself.

I connect with my soul. I connect with my body.

Yes, I enjoy being with me as much as I enjoy connecting with others.

For me, Sinhgad is more of a spiritual experience than physical.

So Sinhagad visit is more about my future than the glorious past of Maharashtra.

Recently, I have started to spare some of my "Me Time" at Sinhagad to improve my photography skills.

Here are a few recent photographs, I shot at Sinhagad Fort.

Please, have a look and show me the ways to improve my photography skills.