Lorelle, Wakad - last few days left to save 3% interest on home loan & to book a flat at the property rate of Rs. 2,500 per sq ft

Thanks to HDFC!

When i wrote a blog "An exclusive offer from Belvalkar Housing for flats, row houses, twin bungalows and independent bungalows in Belvalkar's Solacia at Wagholi", i wanted to write about the offer and review Lorelle at Wakad too.

Yesterday, at HDFC property exhibition, when Sachin Gurjar, sales manager of Lorelle told me that the offer is still on, i said, first thing what i should do is give this news to you and take my own time to review Lorelle!

Thanks to HDFC for extending the offer and giving me second chance to write about one of my favorite projects in Wakad, Lorelle!


View "Take a first left turn as you drive down the Hinjewadi flyover!" in a larger map

Offer and property rate:

Lorelle's offer is quite simple. If you book a flat in a certain period of time, the builder is offering you indirect discount on property rate.

Instead of giving direct discount at the time of booking, for first 3 years, the builder will bare 3 % of interest on home loan. It means, you have to pay less emi for first 3 years.

You know the logic behind this offer. Not the property rates but high home loan interest rates, prevent Pune property buyers from booking a flat! By subsidizing interest rates, for first few years, builder tries to tempt you to book a flat in his scheme.

Why not reduce the property rates?

Whenever builder launches "very attractive offer", we ask, "Instead of these marketing gimmick, why Pune builders don't reduce the property rates?" Right?

But you can't ask this to Maitreya Wakadkar Associates, joint venture of Nirmiti Developers, Pandit Javdekar Associates and Belvalkar Housing, who are promoters of Lorelle at Wakad.

Because Lorelle at Wakad has substantially reduced the property rates! From Rs. 3,200 per sq.ft. to Rs. 2,400 per sq.ft.!!

However, because of the good response to this offer, Sanjay, sales manager of Lorelle, told me at HDFC ready possession properties exhibition, current property rate of Lorelle at Wakad is Rs. 2,500 per sq.ft.!

Sanjay Gurjar also told me that Pune real estate market had gone down, reached the bottom and now is in a process of recovering. So property rates may go up soon! At HDFC house, Sanjay was not the only one who was making this claim of improved bookings and possible property price rise in Pune real estate market.

Now, you can understand why i am not a big fan of HDFC! Or why we all love to hate Pune builders!

2 bhk, 2.5 bhk and 3 bhk flats of Lorelle at Wakad:

Building A: Even Floors:


Building B: Even Floors:


Though i am not fond of "motor cycle with a sidecar" type 3 side open floor plans, when i visited the site, I liked the planning of Lorelle.

Mainly because, in the days of compact flats when builders are reducing the sizes (and not reducing the property rates!), in Wakad few flats are left which have reasonable space and decent planning.

Plus, if you have a budget, the current property rate of Rs. 2,500 per sq.ft. and the offer of discounted interest rate make these flats worth considering.

This is the budget of Lorelle at Wakad:
1) Carpet area is not available. So, I have give Built up area in sq.ft.
Because of the increasing size of the terrace, I don't see any point in considering Saleable area.
2) Agreement cost includes: Basic cost + MSEB & Pipe Gas + Club + Parking + Apartment formation + Legal Charges
3) Stamp duty and Registration extra
4) Advance Maintenance: Rs. 36 per sq.ft. for 2 years: is extra
5) This costing is as per the quotation (W.E.F. 8-4-2009), i was given at the exhibition.

2 bhk flat:

1) 991 sq.ft. - Rs. 29,34,000
2) 1,065 sq.ft. - Rs. 33,09,000

2.5 bhk flat:

1) 1,243 sq.ft. - Rs. 35,84,000
2) 1,229 sq.ft. - Rs. 37,21,500
3) 1,242 sq.ft. - Rs. 37,59,000

3 bhk flat:

1) 1,440 sq.ft. - Rs. 40,84,000
2) 1,449 sq.ft. - Rs. 41,09,000

What is your take on Lorelle at Wakad?

Lorelle is one of the few projects in Wakad which is not aggressively advertised.

Mainly because all partners are well known for quality construction in popular middle class neighborhoods of Pune where builders and property buyers give less importance to advertising and marketing of real estate.

Whereas in the developing areas, many builders build "reputation" not by quality but by advertising.

I would like to know your opinion about these so called "reputed" builders and your experience of dealing with less advertised projects like Lorelle at Wakad. (Comments Policy)

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 5 minutes!) Call +91 98600 44110

Subscribe for Free!

To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group

Visiting for the first time?

If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) April 2009: most popular posts

2) March 2009: most popular posts

3) February 2009: most popular posts

4) January 2009: most popular posts

5) 20008: most popular posts