Ravi Karandeekar's Pune Real Estate Market News Blog: Horizons at Wakad Pune

Showing posts with label Horizons at Wakad Pune. Show all posts

Tuesday, January 10, 2012

Skyline at Wakad: A Few Questions

I don't trust a builder!

I am associated with Pune real estate market for more than 20 years. For all these 20 years, I have always believed in every builder's dream. But i never trusted a single builder in Pune. And, I don't trust any builder today.

I don't trust any builder in Pune, mainly, because their dreams are based on lots of assumptions and our money.

If the builder is very sure that soon his assumptions are going to turn in to reality, i wonder why the builder doesn't wait till that point of time, invest his own money and earn more profit?

Why hurry now to tempt the property buyer to invest his hard earned money and take the huge liability of a home loan?

What are the risks involved in waiting for the right time? Why is the builder trying to avoid these risks? Why is the builder avoiding investing his own money - in his own project and - in his own dream?

How can I trust the builder if the builder himself doesn't trust his own project?

No builder trusts his own project!

When i was in Pune real estate advertising and marketing, I have launched many projects. In those days, launching of a project was a business opportunity for me. By launching a project, my client, the cash starved developer of the project used to collect some money to fill his empty coffers and start the construction. But the buyers in those days were not so enthusiastic to give advance to the builder. So, for me it was an opportunity to earn handsome money by creating good advertising. Obviously, i was happy to believe in the builder's dream at the launch stage.

Now, when i write for the property buyers, i see that only those who financially benefit from the launch of project believe in the builder. Looking at the business opportunity they convince themselves that the builder's dream would turn into reality and work for them. For example, housing finance companies, advertising, marketing and event management agency of the builder, main stream media and hoarding & catering contractor.

But the problem is, now a days, very small number of property buyers, those who are actually going to give their money to the builder at the launch of project, trust the builder that he will be able to materialize his dream.

Look at the recent examples. Even a project like "a 2 BHK Flat for Rs. 25 Lakhs on Sinhagad Road at UrbanGram Kirkatwadi" was not 'sold out' on the day of launch, as per the expectations of the builder.

I was told that, on the day of launch, out of 481 flats only 40 were booked at D S Kulkarni Developers' DSK Meghmalhar Phase 2.

Result is, today, a launch of the project has become a program of public acceptance of truth that without the property buyers' financial support the builder is unable to construct the project.

Not only that! In the launch ad of project, the builders in Pune publicly accept that very few property buyers come forward to take the risk at the launch stage.

For example, D S Kulkani Developers accepted that most of the flats in DSK Meghmalhar Phase 2 will remain unsold after the 4 day launch event and announced their property prices in advance!

In full two page color launch ad in Pune Times, Skyline at Wakad accepted that they didn't expect that more than 25 property buyers would take the risk of booking a flat at the launch.

Bharucha and Sons were ready to giveaway 3 Tata Nano Cars, 10 Washing Machines and 50 Mixers to the property buyers who didn't mind taking a risk of booking a flat at the launch of Collina at Kanhe Phata, near Vadgaon - Talegaon!

This public acceptance of the builders proves that not only the property buyers in Pune, but even the builders themselves don't trust in their own project!

No Bank Trusts a Builder:

We all know that the Reserve Bank of India (RBI) has given orders to all banks that they should not "over expose" themselves to the real estate industry. So, banks are reluctant to fund the builder's dreams.

Instead of trusting the builder's dream and financing his project, banks prefer to lend to an individual property buyer. Who irrespective of quality of the construction and completion of the project, will repay the home loan. So, on behalf of the property buyer, a bank gives money to the builder. Not all at one go. But in installments. As per the stage of construction.

So, when the builder needs more money at the launch of the project, the builder has to rope in some bank which is in need of business and ready to risk it's funds. Like ICICI agreed to give ADF to DSK Meghmalhar Phase 2!

No Land Owner Trusts a Builder:

When any project is launched, most of you ask me about the quality of construction, possibility of completion of the project in time, future development of the location and expected appreciation of the property.

Only a few, who know how the builders in Pune do their business ask me, "Ravi, why did this builder launch the project now?".

These property buyers know that the builders in Pune do not launch the project to make you rich by giving an opportunity to earn huge appreciation.

These well informed property buyers know that unless and until there is some urgent and important financial need - no builder approaches the property buyers in Pune.

Most of the time, installment of payment to the land owner is the sole reason for launching the project.

Desperate to pay the land owner, the builder takes the help of popular idea - "at the launch property prices are less" and tries to terrorize the property buyers by advertising and constructs show flat at the site to trap the visiting property buyers.

At the launch, now a days, a small number of property buyers, generally 2 - 3 per cent out all site visitors, really get frightened and give the cheque of booking amount to the builder.

Assuming that after going home, many are going to stop fearing and going to regain their confidence, builder takes cancellation charges from the property buyers. After all, mostly, collecting money to pay to the land owner is his only motive behind the launching of the project.

However, the cancellation charges don't prevent the property buyers from joining others who have visited the site but not booked. Collectively, all of you start questioning!

A few questions about Skyline at Wakad Pune:

In case of Skyline at Wakad too, i am sure, you will also have many questions. For example look at my questions:

'Horizons at Wakad' Pune on the day of launch of 'Skyline at Wakad'

1) Why did Adi Group launched the Skyline at Wakad when a few flats in the under construction building in Horizons at Wakad are available?

2) Why did Adi Group launch the 'Skyline at Wakad', when out of 5 buildings in 'Horizons at Wakad' - only 2 are almost ready, RCC & brick work of the third is going on and the construction of the last building is not yet started?

'Horizons at Wakad' - Road - 'Skyline at Wakad'

3) 'Skyline at Wakad' and 'Horizons at Wakad' are located on the two opposite sides of the road - which doesn't exist today. What is the reason behind not waiting for the road and what is the hurry to launch 'Skyline at Wakad' at this premature stage at the lower rate?

4) Why the booking amount is Rs. 3 lakh and cancellation charges Rs. 50,000?

5) Do they fear that, day by day, Wakad is becoming less popular and unless you have a competitive property price no one books at Wakad Pune?

6) Does Adi Group know that Pune is in Maharashtra and in Maharashtra property is sold on the carpet area? Why the carpet area of the flat in Skyline at Wakad is not given?

Along with the first question came to my mind when i saw the launch offer - Why are you charging the property rate of Rs. 3,800 per sq.ft. for 'Skyline at Wakad'?

My dear readers of Ravi Karandeekar's Pune Real Estate Market News Blog, if you have any questions, please, feel free to write in the comments. The launch of 'Skyline at Wakad' was business cum family get-together. So, i couldn't ask a single question. However, i have told the directors that i will visit them with an appointment to talk about the launch of 'Skyline at Wakad' - which is planned better. Have a look the floor plans and the 'regular' property prices at the rate of Rs. 3,800 per sq.ft. saleable area for 'Skyline at Wakad' Pune:

Skyline at Wakad Pune - 2 BHK Flat Cozy - Even Floors
878 sq.ft. Saleable Area for Rs. 34,91,900 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:

Skyline at Wakad Pune 2 BHK Flat Cozy Even Floors 878 sq.ft. Saleable Area for Rs. 34,91,900 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month

Skyline at Wakad Pune - 2 BHK Flat Comfort - Even Floors
953 sq.ft. Saleable Area for Rs. 37,58,150 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:

Skyline at Wakad Pune 2 BHK Flat Comfort Even Floors 953 sq.ft. Saleable Area for Rs. 37,58,150 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month

Skyline at Wakad Pune - 2 BHK Flat Large - Even Floors
1065 sq.ft. Saleable Area for Rs.41,55,750 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:

Skyline at Wakad Pune 2 BHK Flat Large Even Floors 1065 sq.ft. Saleable Area for Rs.41,55,750 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month

Skyline at Wakad Pune - 3 BHK Flat Odd Floors
1301 sq.ft. Saleable Area for Rs. 49,93,550 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month:

Skyline at Wakad Pune 3 BHK Flat Odd Floors 1301 sq.ft. Saleable Area for Rs. 49,93,550 + Legal Charges + Stamp Duty + Registration + ST + VAT + Maintenance Charges for 2 years @ Rs. 2.5 per sq.ft. per month

Contact 'Skyline at Wakad' Pune:

020 6511 2111/2555 / 97 62 071 071 / sales@adigroup.in / www.skylineatwakad.com

Feel free to call me:

I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 3 minutes!) Call 919860044110

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Wednesday, January 4, 2012

Skyline at Wakad will be launched on 7th January, 2012!

Don't miss the launch offer!

I called the phone numbers given in the invitation. Come to the venue, off Dange Chowk Hinjewadi Road, opposite Horizon at Wakad, at 11 am on 7th, i was told. What would be the pre-launch offer of the 'thoughtfully planned and carefully crafted homes' (!), I am wondering.

Skyline at Wakad

View Skyline at Wakad in a larger map

Updates:

1) SATURDAY, JANUARY 7, 2012

Skyline at Wakad: 3,550 per sq.ft. for 25 bookings!

2) SATURDAY, JANUARY 7, 2012

Skyline at Wakad Pune Launched!

Monday, April 18, 2011

Discount! Horizons at Wakad offers Rs. 200 per sq.ft. discount!!

Pune Real Estate Tips and Tricks collected in Magicbricks Pune Western Suburb Property Show 2011:

Launch Ad of Horizons at Wakad Pune (8th May 2010)

View Horizons at Wakad Pune in a larger map

For the visitors to Magicbricks Exhibition from 15th to 17th April 2011, for a few flats, Horizons at Wakad had offered a discount of Rs. 200 per sq.ft.!

Someone at the stall told me, "Only for the 10 flats!" Mr. Someone also added that - "5 gone! Only 5 available!!"

Before writing this, when i called Horizons at Wakad on 020 6511 2111 / 97620 71071, Mr. Someone told me that - "Now, only 4 flats are available at the discounted property rate!"

Property rate at Horizons at Wakad, as per the property price list given to me in the exhibition, is Rs. 3500 per sq.ft. (for the saleable area). 2 BHK Flats in A, B & C Wings have open car parking. Approximate property prices of these 2 BHK Flats are: 1) 923 saleable for Rs. 35.11 Lakhs 2) 970 saleable for Rs. 36.75 Lakhs 3) 1067 saleable for Rs. 40.15 Lakhs 4) 1071 saleable for Rs. 40.29 Lakhs 5) 1176 saleable for Rs. 43.96 Lakhs 6) 1172 saleable for Rs. 43.82

Whereas, 2 BHK Flats in D & E Wings come with covered parking or with open parking! Means, you have 2 options! 2 property prices of each 2 BHK Flat!! For example: 1) Total costs of a 2 BHK Flat of 923 sq.ft. saleable area are Rs. 35.80 Lakhs or Rs. 35.11 Lakhs! Certainly, lower property price is for the flat with a open car parking!

Of course, these are only property costs. Other charges - stamp duty + registration + service tax + VAT + Maintenance Charges are extra.

Oh! I forgot about Rs. 100 per sq.ft. premium for the garden facing flats!

And, yes, - High-rise premium Rs. 35 per sq.ft. per floor is applicable from the 4th floor!!

Booking amount is Rs. 1,00,000/- You know what? Cancellation charges are only Rs. 50,000!

Certainly, ADI Realties have all rights to terminate, discontinue above offer at any point of time without any notice.

What do you think? Will they ever discontinue this offer?

Feel free to call me:

I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 3 minutes!) Call +919860044110

If you like to chat, join me, RaviKarandeekarsBlogs on Google Talk.

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Monday, May 10, 2010

Horizons at Wakad Pune opens booking at the property rate of Rs. 2,550 sq.ft. (for first 50 flats!)

Horizons at Wakad by Adi Realties:

Unknown builder in the unknown part of Wakad in Pune!

Adi Realities is the developer of Horizons at Wakad, Pune (www.horizonsatwakad.com) A residential real estate project of 264 Flats - 2 BHK & 3 BHK - in 6 buildings - parking plus 11 floors.

I haven't heard of Adi Realities. However, according to the website of Horizons at Wakad Pune, in 2004 (!) Adi Group diversified into real estate industry. All active directors of Adi are technically qualified engineers and have an in depth knowledge. The directors of Adi, the website says, "believe in making benchmarks and then breaking them!"

At the site, i met one of the directors, Mr. Anil Bhagwani. Anil said that he has a multifaceted personality and gave me his visiting card. Mr. Anil is the director of an IT company - Adi Innovative Solutions Pvt. Ltd.!

At the end of the day, I realized that, these young guys from Pimpri know all about Pune real estate market, and they are, for sure, going to make and break "benchmarks". For example:

1) The launch ad of Horizons at Wakad Pune was stupid but unique - Front Page of Pune Times - Full Page - Both Sides!

Launch Ad of Horizons at Wakad Pune - click the ad to enlarge:

2) The launch ad of Horizons at Wakad Pune mentions "Credai, PCMC" membership

3) On the day of the launch, at the site of Horizons at Wakad Pune, lunch was served!

4) Instead of a regular property rate of Rs. 2,750 - only Rs. 2,550 per sq.ft. special launch offer - certainly, only for the first 50 flats - 3 BHK Flats in A wing & 2 BHK Flats in B wing - was announced!

Special Offer: Property rate at Horizons at Wakad Pune:

Layout Plan of Horizons at Wakad Pune - - click the plan to enlarge:

5) At noon, claim was - "50 per cent flats booked!"
At 6pm - "only 2 -3 flats available at this rate (obviously) on 9th, 10th & 11th!"

6) A salesman was telling everyone that Adi Realities had 'completed' 2 projects in Rahatani. However, the brochure of Horizons at Wakad Pune don't say anything about the "past projects"

7) "Larger than Life" terraces are offered to living / dining - costing you:

1) For a 2 BHK Flat of 618 carpet - 92 sq.ft. terrace
You Pay Rs. 2,34,600 - @2,550 &
2,53,000 - @2,750

2) For a 2 BHK Flat of 621 carpet - 125 sq.ft. terrace
You Pay Rs. 3,18,750 - @2,550 &
3,43,750 - @2,750

3) 2 BHK Flat of 691 carpet - 133 sq.ft. terrace
You Pay Rs. 3,39,150 - @2,550 &
3,65,750 -@2,750

4)For a 2BHK Flat of 693 carpet - 128 sq.ft. terrace
You Pay Rs. 3,26,400 - @2,550 &
3,52,000 -@2,750

5)For a 3 BHK Flat of 881 carpet - 130 sq.ft. terrace
You Pay Rs. 3,31,500 -@2,550 &
3,57,500 -@2,750

Means, at the property rate of Rs. 2,750 per sq.ft., per flat on an average income from the terrace would be Rs. 3.34 lakhs! Which means that income from the total 264 flats would be Rs. ....

8) Premiums:
1) Garden facing flats - Rs. 50 per sq.ft. extra!
2) Floor rise - Rs. 25 per floor - from 5th floor.

9) Parking is not mentioned separately - instead of that there are 2 types of Infa charges!

1) Rs. 2,90,000 2) Rs. 2,40,000 - means open parking with a 2 BHK Flat

1) Rs. 3,00,000 2) Rs. 2,50,000 - means open parking with a 3 BHK Flat!

10) Horizons at Wakad Pune - Property Prices:

1) 2 BHK Comfort Flat - 618 carpet + 9'x7'6" terrace - on even floors:
Rs. 25,51,850 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 25,01,850 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 618 sq.ft. carpet - click to enlarge:

2) 2 BHK Comfort Flat - 621 carpet + 9'x7'6" terrace-living/dining + 6'6"x5' terrace-master-bedroom - on odd floors:
Rs. 26,66,600 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 26,16,600 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 621 sq.ft. carpet - click to enlarge:

3) 2 BHK Large Flat - 691 carpet + 9'x7'6" terrace-lving/dining + 5'x9'1" terrace-master-bedroom - on even floors:
Rs. 29,16,500 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 28,66,500 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 691 sq.ft. carpet - click to enlarge:

4) 2 BHK Large Flat - 693 carpet + 9'x7'6" terrace-lving/dining + 8'x5' terrace-master-bedroom - on even floors:
Rs. 29,06,300 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 28,56,300 (with open parking) + all extra charges

Horizons at Wakad: 2 BHK Flat - 693 sq.ft. carpet - click to enlarge:

5) 3 BHK Flat - 881 carpet + 7'x9' terrace-lving/dining + 4'6"x8'6" terrace-master-bedroom - on even / odd floors:
Rs. 35,20,650 + garden facing + floor rise + stamp duty & registration (6% approx) + service tax & vat
or Rs. 34,70,650 (with open parking) + all extra charges

Horizons at Wakad: 3 BHK Flat - 881 sq.ft. carpet - click to enlarge:

11) No sample flat! - Who is interested in the sample flat when the property price is so attractive!

12) Construction hasn't started - at least no one told me about it - i didn't hear anybody asking about it! At the time of the booking, you know, Pune property buyers trust any builder. They don't even ask for the sanctioned plans or any legal document! After the booking, as usual, Pune property buyers complain about every builder - who bothers?

13) Yes, Digital presentation was going on the TV all the time - it's enough to entertain when the property price is so attractive!

14) Entrance lobby: every type of a flat has an entrance lobby - in comfort 2 BHK Flats - small & useless - in large 2 bhk flats - enough & useful - in 3 BHK Flats small & useless

15) Living cum dining floor plan - all flats have 'living cum dining' layout. So, you get a hall in one piece of 21'x10'6" in a 2 BHK Comfort flat, 21'x11'6' in a 2 BHK Large Flat and 12'x21'6" in a 3 BHK Flat. If you are a "social" person you will like this "multi-utility hall type plan".

Multi-utility hall type floor plans for social animals:

16) Small and Squarish Kitchen - Look at the sizes of the kitchens in Horizons at Wakad Pune:

Kitchen in a 2 BHK Flat:

Kitchen in a 3 BHK Flat:

1) 2 BHK Comfort Flat - 8'6"x7'
2) 2 BHK Large Flat - 8'6"x8'
3) 3 BHK Flat - 10'x8'
So, the length of your kitchen platform is only 7' or 8'. On this kitchen platform most of the space would be occupied by your sink and gas stove. It means your wife would get enough space to cook only one dish - Maggi! So, eventually, your family will be on the Maggi Packs and in Maggi Ads. All of you will become "Maggi Star"!

17) Common Toilet in the entrance lobby of a 3 BHK Flat: Very revolutionary idea! When someone will visit your 3 BHK Flat, a common toilet will be ready to welcome him! Here your guest can first "freshen up" and then directly join you on your dining table.

If your guest over eats or over drinks, no problem, toilet is close by. Please, be careful, see that your guest doesn't gets confused and opens the wrong door! Because, in this entrance lobby - there are 3 doors - 1) door of your common toilet, 2) door of your third bedroom and 3) your main door!

Toilet & Home of Ms. & Mr. Maggi:

Welcome to Backward Wakad Pune!

Now, i have realized that there are 7 parts of Wakad.

1) Park Street - Mahindra Woods' Wakad - which is on Aundh - Dange Chowk road

2) Kaspate Wasti's Wakad

3) Wakad Chowk - Thergaon - Dange Chowk road - Wakad - on which my favorite Nandan Inspera, Mont Vert Seville, apostrophe are.

4) The Hidden Wakad: where Eden - The Island are located!

5) Rohan Tarang's Wakad

6) Wakad on the other side of Mumbai Pune express way - Soul Curry Wakad and now,

7) Backward Wakad of Horizons!

Backward Wakad of Horizons is located somewhere in the backyards of Apostrophe and Silver Skyscapes on the Wakad Dange Chowk Road and Sayaji Hotel on Mumabi Pune Expressway.

At this point of time, there is a narrow lane on Dange Chowk to Hinjewadi road to "Backward Wakad of Horizons"!

I got down at Ginger Hotel on Mumabi Pune Expressway and walked to the site of Horizons at (Backward) Wakad Pune. Have a look at what i saw: