Sonu Tuza DSKvar Bharosa Nay Kay

DSK - Mr. D. S. Kulkarni - The Founder, Chairman & Managing Director of
D. S. Kulkarni Developers Ltd - presents his version of
"Sonu Tuza Mazyavar Bharosa Nay Kay"
to entertain his faithful Fixed Deposit - F D - Holders!

Yes! "Sonu Tuza Mazyavar Bharosa Nay Kay" - Sonu, Don't You Trust Me? - is the current social media trend. Everyone is presenting his own version of this viral Marathi folk song on YouTube. In different languages. In different styles.

The #SonuSong is not only sung for fun. It has been performed to highlight the civic issues too. For example - RJ Malishka of Red FM, presented her own version "Mumbai, Tula BMC War Bharosa Nai Ka" to complain about the pothole issues in Mumbai.

All theses versions were performed by the groups of young boys & girls. Obviously, the young at heart DSK couldn't resist the temptation of presenting his own version on his YouTube channel.

And you know what?

DSK's version is one of the most creative version of Sonu Tuza Mazywar Bharosa Nay Ka.

Why is it the most creative?

Here are the reasons:

1) Solo Performance of #SonuSong:

You know?

DSK has performed it solo!

His solo performance of #SonuSong is more entertaining than any group performance. Yes! More entertaining than the group performance of Six Pack Band!!

Why didn't DSK give group performance?

In his video, DSK tells us that his staff is in a fighting mood. Not in a singing mood. Without bothering about the monthly salary DSK's staff is fighting a war against "Cash Crunch".

And by the way, DSK Group is actually a couple. Ms & Mr DSK!

Nowadays, the main job of this couple is to talk to their F D Holders.

2) Talking the #SonuSong:

Yes! Talk!! Considering the preference of his F D Holders - instead of singing, DSK decided to talk the #SonuSong!!

Yes! No music. No group. No lyrics. No tune. Still DSK's spoken performance of #SonuSong is lot better than any version of the folk song!

3) Message in #SonuSong:

DSK has published his version of #SonuSong with some intentions:

1) Stop the FD Holders from bothering DSK for interest payments.

2) Prevent FD Holders from withdrawing their Fixed Deposits kept with DSK.

3) Convince the FD Holders that DSK is facing cash crunch.

4) Assure the FD Holders that DSK is not bankrupt.

In his version of "Sonu Tuza Mazyavar Bharosa Nay Kay", I feel, DSK has succeeded in achieving these intentions.

Using folk song & social media for corporate communication itself is a big achievement. Like other versions of #SonuSong, DSK is not only entertaining - he is emotionally appealing & persuasive too. DSK has achieved this by mixing facts with fiction.

Are the two prominent groups of DSK FD Holders like it as much as I? I was curious to know. So I talked to the leaders of both groups.

4) Enemies of DSK:

First, I called Mr. Anil Karmarkar. He is considered as Enemy of DSK! Why? Because Mr. Karmarkar tried to unite DSK FD Holders!

Recently, his message - given bellow - has become viral on Whatsapp:

डी. एस. कुळकर्णी ह्यांच्या कंपन्यांमध्ये मुदत ठेवी (Fixed Deposits ) असलेल्या गुंतवणूकदारांना आवाहन .

आपली सर्वांची फेब्रुवारी २०१७ पासूनची व्याजाची रक्कम थकलेली आहे. "डीएसके" SMS वर आश्वासने देत आहेत पण ती आश्वासने ते पाळू शकत नाही असे दिसत आहे. मुदत संपलेल्या ठेवीही परत मिळत नाहीत. म्हणून आपणास एकत्र येण्याची आवश्यकता आहे. कृपया karmarkar_anil@yahoo.com येथे ई-मेल वर आपले नाव , पत्ता (पिनकोड सह) , फ़ोन क्रमांक , गुंतवणूक केलेली रक्कम एवढी माहिती कळवावी. ह्या कामात सक्रिय सहभाग घेण्याची इच्छा असल्यास तेही नमूद करावे .
- अनिल करमरकर ९३२१२७१८१८

आपण "डीएसके" चे ठेवीदार नसलात तरीसुद्धा आमच्या मदती साठी हा मेसेज तुमच्या ग्रुप मध्ये forward करावा - धन्यवाद

"Why are you trying to unite the F D Holders of DSK?," I asked Mr. Karmarkar.

"I am one of the F D Holders of DSK. I have visited DSK's office many times. There I have seen F D Holders fighting & arguing with the staff. Some begging for refund. Some crying with frustration. Most of them were like me. Senior citizens. In their 60s, 70s & 80s. Aged. Helpless. Desperate. Facing this individually is frustrating. If we join hands - we may be able to deal with this issue effectively - I thought," Mr. Karmarkar said.

"Deal effectively means what? What do you want to do?," I asked.

"To begin with - DSK must start paying interest on time - like he used to do before - for so many years," Mr. Karmarkar said.

"Then? What next?," I asked.

"Then we want our Fixed Deposits back," Mr. Karmarkar said.

"That's all you want?," I asked.

"Yes!," Mr. Karmarkar said.

"In the latest YouTube video DSK has assured to do this! Did you view it?," I asked.

"Yes, I saw. I want action plan. Not blah blah," Mr. Karmarkar said.

"Blah...Blah....Blah! Mr. Karmarkar, don't you trust DSK? Tumcha DSKvar Bharosa Nay Kay?," I asked.

"I trust DSK. That's why I kept FD with him. Even after all these delays - I am only expecting timely interest. And after knowing the difficulties he is facing - I am ready to renew FDs," Mr. Karmarkar said.

"Do you think that DSK will be able to return your Fixed Deposits?," I asked.

"I hope so," said Mr. Karmarkar.

"Means, you are not plotting to send DSK to jail....," I said.

"I want timely interest & my FDs back," Mr. Karmarkar said.

5) DSK Well-Wishers Group:

Mr. Mohan Tapare feels that Mr. Karmarkar wants to file a case against DSK and send him to jail. Mr. Tapare believes that Filing a case against DSK is a wrong strategy.

A court case will not help us to get our money back. Instead of that, in these difficult times, all F D Holders should support DSK. We should give time to DSK to revive his business. When DSK will be out of read, for sure, he will return our money. Believes Mr. Tapare.

To gather support, Mr. Tapare Whatsapped this message -

अनिल करमरकरांची बूमरँग थेअरी
गेल्या काही दिवसांपासून श्री. अनिल करमरकर यांची डीएसके ठेवीदारांना एकत्र आणण्याची एक पोस्ट फिरत आहे. यामध्ये व्याज मिळत नसल्याने ठेवीही बुडतील अशी भीतीही त्यांनी दाखवली आहे. आता ठेवीदारांना एकत्र गोळा करून डीएसकेंना कोर्टात खेचण्याचा त्यांचा विचार असेल तर खालील गोष्टींचा त्यांनी विचार करायला हवा.
1. डीएसकेंवर केस लावली तर कदाचित ते तुरूंगात जातील.
2. पण काही दिवसातच जामीनावर बाहेरही येतील (तसे ते नक्कीच करू शकतील)
3. त्यानंतर दीर्घकालीन (म्हणजे कधी ते माहित नाही) इतका काळ ती केस चालेल.
4. त्याकाळात डीएसकेंकडून एक रूपयाही मिळायचा नाही.
5. मग हा खटाटोप करून ठेवीदारांच्या पदरात पडणार काय?
(फडणीस ग्रुपचं ताजं उदाहरण लक्षात घ्यावे)

श्री. करमरकर किती वर्षांपासून डीएसकेंकडे ठेवी ठेवत आहेत माहित नाही. पण मी गेली 25 वर्षे डीएसकेंच्या चोख व्यवहाराचा अनुभव घेतला आहे. इतक्या वर्षात डीएसकेंनी व्याजाची तारीख चुकविली असे घडले नाही. मग गेल्या वर्षभरात डीएसके अडचणीत आलेले असताना (हे जाहीररीत्या ते कबूलही करतात) आपण लगेच मागचे विसरून त्यांच्याविरूध्द गटात जाऊन बसणे मला व्यक्तिशः पटत नाही. ज्या माणसाने माझ्यासारख्या हजारो ठेवीदारांना दामदुप्पट फायदा करून दिला, त्या भल्या माणसाला त्याच्या अडचणीच्या काळात आपण ठेवीदारांनीच साथ दिली पाहिजे. हे नैतिक कर्तव्य म्हणून पटत नसेल तर निदान स्वार्थ पाहून तरी मदत करायला हवी. कारण डीएसके बुडाले = आपले पैसे बुडाले त्यामुळे श्री. करमरकरांची ही थेअरी बूमरँग सारखी आपल्या ठेवीदारांनाच गाळात घालू शकते याचा बुध्दिवंतांनी विचार करावा.

मी डीएसकेंचा चमचा नाही. पण ज्या माणसाने हजारोंना घरं दिली. तरूणांना उद्याेजकता शिकवली. मदत मागायला आलेल्या प्रत्येक गरजूला हात दिला, त्यांना आरोपीच्या पिंजर्‍यात उभं करणं हे मी पापच समजतो.

लक्षात घ्या, तुमचे लाखो हवे असतील तर लाखांचा हा पोशिंदा उभा राहायलाच हवा

म्हणूनच श्री. करमकरांसारख्या अनेक सूज्ञ ठेवीदारांना मी आवाहन करतो की, चला, सारे मिळून त्यांच्या पाठीशी उभे राहूयात. पुढची 1-2 वर्षे माझे पैसे नाही मिळाले तरी चालतील. पण डीएसके पुन्हा उभे राहायलाच हवेत

यासाठीच मी DSK WELL WISHERS हा ग्रुप तयार करत आहे. माझ्या विचारांशी सहमत असणार्‍या ठेवीदारांनी व डीएसकेंवर प्रेम करणार्‍या सर्वांनी या ग्रुपमध्ये यावे.
-मोहन टापरे
92255 20923

ग्रुप जॉईन करण्यासाठी खालील लिंकवर क्लिक करा.
https://chat.whatsapp.com/L0vW5erEKsTGiuWxj59813

तुम्ही ठेवीदार असाल किंवा नसाल डीएसकेंना सपोर्ट करण्यासाठी हा मेसेज तुमच्या सर्व ग्रुपवर पाठवावा.

Accepting the fact that DSK has failed to win Mr. Karmarkar's heart by his version of "Sonu Tuza Mazyavar Bharosa Nay Kay", with great hope, I called Mr. Mohan Tapare, the promoter of DSK Well-Wishers Group.

"How is the response?," I asked.

"Overwhelming!," said Mr. Tapare.

"Congratulations to you! Means no court case. Right?," I said.

"DSK has a good heart and a great business brain - entire Maharashtra knows this. Only a few - very few - are against him," Mr. Tapare said.

"Mostly those petty minded people who have kept 1 - 2 - 3 - 4 lakh Fixed Deposit - as DSK has said in his video. Right?," I asked.

"Some senior citizens - who's houses run on the interest they get from DSK - it is their pension - monthly household expenses - sustenance - all is from interest from DSK F D - they should get the top priority - others can wait. I have told DSK," Mr. Tapare said.

"You know DSK?," I asked.

"DSK is my childhood friend! I know most of the builders in Pune. I know their financial conditions. DSK is not the only one - most of the builders in Pune are facing financial difficulties. Since DSK has taken Fixed Deposits from thousands of people - his problems are discussed in public - whereas those who have taken private loans their problems remain private," Mr. Tapare said.

"How do you know all this?," I asked.

"I am builders' financier!," Mr. Tapare said.

"That's great! It means that you have reliable information!!," I said.

"Yes! I know who has how much!!," Mr. Tapare said.

"In the video DSK has said - I have lot of properties. 10 times of liabilities. Is it true?," I asked.

"Must be! Otherwise DSK would not have said so in the video," Mr. Tapare said.

"True! DSK must have. But in that case - why is DSK not taking loan against these properties and paying back all Fixed Deposits? F D Holders would be glad to get their money back. Instead of facing the F D Holders' anger & curse and spoiling his reputation - DSK can concentrate on rebuilding his construction business," I said.

"He is trying! That's why we have to give him time. Support him, Mr. Tapare said.

"How much time? As per DSK - this is going on for the last 2 years!," I said.

"Look at his integrity - honesty - he accepts everything = publically!," Mr. Tapare said.

Good!

There are some people in this world who appreciate talking.

They believe in the words spoken in YouTube video.

Social media has become an option to court of law.

DSK was very right in publishing his version of "Sonu Tuza Mazyavar Bharosa Nay Kay".

6) DSK Flat Buyers Group:

How can DSK forget his Gods! Addressing to F D Holders - DSK also talked to his flat buyers.
Even though - like the F D Holders - the flat buyers had not formed any group!
Even though - like the F D Holders - they are not gathering at the head office of D S Kulkarni Developers!
Even though - like the F D Holders - they are not arguing for possession of their flats!

Possession of the flats in the projects like - DSK Aanandghan at DSK Vishwa - DSK Sadaphuli at Warale - Talegaon (Launched in 2013) - DSK Mayurban, DSK Vasantotsav, DSK Mayurban (Launched in 2014) - DSK Dream City (Launched in 2014) is already delayed. Including DSK Madhukosh at Andheri, Mumbai!

These flat buyers have already accepted the delayed possession. So, technically there was no need to talk to them. But DSK talked to them too!

What did DSK say?

1) DSK honestly accepted that because of the cash crunch he is finding it difficult to pay VAT, Service Tax, TDS and all.

It means that a wise flat buyer can guess that DSK may not be able to pay the registration fee & obtain MahaRERA registration number.

2) DSK honestly accepted that some 13 projects are stalled for more than a year.

Why?

Because DSK diverted funds! Nearly 250 crores!!

Instead of spending money for constructing these projects - DSK paid those monies to F D Holders!

3) Not only that! DSK has claimed that he needs some 1100 crores to complete under construction projects!!

It means that DSK will complete these projects only when he will get that much money.

And then DSK will have enough money - nearly 1500 crores in profit - to refund 400 - 500 crores to Fixed Deposits Holders!

Of course, only when he will be able to get 1100 crores and complete 48 lakh sq ft construction and sell it for 3700 Crores!

4) DSK predicts that henceforth people are going to buy only ready possession flats. Like they do all over the world.

Was DSK suggesting that -

MahaRERA registration is not required for the ready possession flats.

It means that - what all DSK Flat Buyers in these projects have to do is wait some more time. That's all!

I don't know what exactly DSK is suggesting!

I know only one thing. Every flat buyer and F D Holder should ask himself - Sonu Tuza DSKvar Bharosa Nay Kay?

What say you? Do you believe in DSK?

Please, share your views in the comments.

Related Story:

1) DSK is struggling to get his ducks in a row

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

Feel free to call me:

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



  

Give up hope of buying a flat in Pune - CREDAI

"Don't be stupid. 

Stop spreading rumors in the mainstream & social media. 

Because of the demonetisation of 500 & 1000 rupee notes 

the property rates in Pune real estate market are not going to go down." 

Announced Mr. Shantilal Kataria, 

President CREDAI Pune Metro in a press note.

Give up hope of buying a flat in Pune - CREDAI

When it comes to real estate market in Pune
CREDAI Pune Metro is the final authority.
Recently, we have realized this in the case of
Pradhan Mantri Awas Yojana - Maharashtra Housing Day
- 1 BHK Flat for Rs. 5 Lakh offer by Maple Group.
CREDAI Pune Metro certified that it was not a scam but a genuine offer.

When the president of CREDAI Pune Metro, Mr. Kataria announces that
the property prices in Pune real estate market will not go down
the flat buyers have to accept that as an ultimate truth.
Because in Pune real estate market the flat buyers do not matter.
In Pune real estate market only builders matter.

Removal of black money will reduce the property prices in Pune
and we will be able to own a home
was the hope of frustrated & frightened flat buyers in Pune.

A hope of being able to own a home in Pune is nothing but a weak & cheap sentiment
aroused in the ignorant minds of aspiring young flat buyers.

Yes, just hope. Not a fact. Not reality. Says Mr. Kataria.

Fact of the matter is - because of the demonetisation
& all other initiatives of Modi Government - like -
GST - Goods and Service Tax,
RERA - Real Estate Regulation Act,
Smart City Mission,
Swacch Bharat Mission,
Housing-for-All,
infrastructure development programs like ring road, Metro & Local Train etc,
and the effects of these initiatives like -
urbanisation,
migration,
job creation,
low home loan interest rates,
foreign direct investment etc.
are going to boost the demand of housing.
And the high demand will increase the property rates in Pune.

What is the intention of Mr. Kataria behind revealing the truth of impending property rate rise in Pune real estate market?

The reason is certainly not to insult the aspiring flat buyers in Pune.

The reason may not be to clear the myth that Modi Government is pro young citizens of India.

The reason may not be to claim that like previous governments, Modi Government is also the builders' government.

My guess is - Mr. Kataria wants aspiring flat buyers in Pune to enjoy a good life.

His hidden message is -

Stop hallucinating of being able to own a home.

Give up hope of owning a home.

Stop saving for down payment.

Start splurging. Shop till you drop.

Instead of visiting builders websites - keep on browsing Amazon and other online stores apps on your mobile.

Instead of visiting property exhibitions - visit shopping malls & multiplexes.

Instead of visiting builders' site offices - have a great time in pubs, restaurants & resorts.

In short, the president of CREDAI Pune Metro says, don't bother us.

How noble are Mr. Kataria's intentions!

He has told us something which our parents never told us.

Parents are insisting to buy a flat and settle down - which is practically impractical in this age.

Mr. Kataria has told us which everyone of us wanted to tell his or her spouse but never dared to say so bluntly.

Don't assume that only death can do us part. Lifestyle, job, colleagues, drinks & drugs, sex are more powerful than the death.

Life is not secure anymore.

We all are floating.

There is no job security.

Possibility of becoming unemployable is certainty.

Artificial intelligence is ready to take over our jobs.

Raising a child has become unaffordable.

Education is very expensive.

Medical treatment is exorbitant.

Jobs are making us mentally & physically unhealthy & unfit.

There is no pension. No social security.

No one knows how to survive the old age.

In this situation what is the point in saving for down payment and keeping on paying 50 - 60 per cent of monthly income as EMI for the next 20 - 30 years?

Enjoying every day as the last day of your life - make sense.

Instead of becoming a homeowner - becoming a consumer is more fun.

Instead of paying EMI - paying rent is cool.

Giving up hope of buying a flat makes sense.

Thanks Mr. Kataria, president of CREDAI Pune Metro, we will not wait & watch for property rates in Pune to go down - we will never aspire to book flat - we will never bother the builders in Pune.

May god bless you with ever increasing property rates in Pune real estate market.

Related Stories:

3) Pune property rates will keep on going down

2) How to survive the sinking Pune real estate market

1) Renegotiate the agreement value of your flat

Subscribe for Free!

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

Feel free to call me:

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



  

Renegotiate the agreement value of your flat

After the demonetisation of 500 & 1000 notes,
wise flat buyers in Pune are postponing the registration of agreement &
are trying to renegotiate the property price with the builder!

Renegotiate the agreement value of your flat

The property rates in Pune are going to go down.
Those who want to book a flat & those who have already booked
- both are sure about the property rate correction in Pune real estate market.

But you know what?
Those who have booked the flats but as yet have not signed & registered their agreements
also believe that the property rates in Pune will go down.

These guys believe that the agreement value of their flats
which they have agreed to pay while booking a flat
are not valid any more.

Solution?

These guys want to renegotiate their property prices!

What if your builder refuses to renegotiate? I asked one of them.

I will cancel my booking! The flat buyer said.

Really!? I asked.

Yes! I am ready to cancel. But I know - I don't have to cancel. The flat buyer said.

Why? I asked.

My builder can not afford my cancellation! My builder knows that he is not going to get new bookings for a while. That's why he can not let me cancel my booking. He has no option but to renegotiate. The flat buyer said.

Sounds logical! What is your expectation? 25% price reduction? I said.

25% is good! More than percentage - I want to make sure that I am paying the right price! The flat buyer asked.

Right price means? I asked.

When I booked the flat - I was blind. Yes, I negotiated. But the basis for negotiations was the current market rate in the area - the comparison - not his actual costs. Now, I am going to ask questions about his costs & pricing. He has to convince me with the proof. The flat buyer said.

Do you expect the salesperson to know all these things? I asked.

No. I am going to negotiate only with the builder. The flat buyer said.

Perfect! I said.

If the builder refuses to negotiate or fails to justify the price - I have made up my mind to cancel the booking. You know? Because of this demonetisation I have realized my mistakes. My builder's booking terms are completely unfair and may be illegal. The flat buyer said.

Such as? I asked.

If I cancel the booking - I have to pay 5% of the agreement value of the flat as - cancellation charges! In my case - 5% means 7 lakhs! Is this legal? The flat buyer asked.

Are you asking me - Can a builder charge percentage of the agreement value as 'cancellation charges'? I said.

Yes! The flat buyer said.

What if the answer is 'yes'? I asked.

I will go to court. I will file case against the builder. Cancellation charges is an exploitation - unfair - abusive term. The flat buyer said.

Demonetisation has really opened your eyes! The builders days are numbered!! I said.

What say you?

Are you renegotiating the agreement value of your flat?

Share your experiences in the comments, please.

Related Stories:

2) How to survive the sinking Pune real estate market

1) Pune property rates will keep on going down

Subscribe for Free!

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

Feel free to call me:

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



  

How to survive the sinking Pune real estate market

1) Property Rate Protection,
2) Third Party Construction Quality Audit Reports
3) Compensation for Delayed Possession
are the 'life jackets' which may help the flat buyers
to survive the sinking ship of Pune real estate market!

After the demonetisation of 500 & 1,000 notes, most of the flat buyers who have already registered their Agreement to Sale have panicked.

"Should I cancel the agreement & jump off this sinking ship?" - some asked me.

"Am I going to go down with the sinking Pune real estate market?" - some are worried.

They have panicked because they firmly believe that demonetisation has completely disrupted the Pune real estate market. New flat buyers are going to postpone booking flats & wait for the rates to fall substantially. Slow bookings will hamper the progress of construction and possession would be delayed. Because of the delayed possession those who have booked will suffer huge financial losses.

Falling property rates will certainly reduce the builder's profit margins. To recover the losses the builders will cut corners and will offer inferior quality construction. Result is the flat buyers will not get value for their money and will suffer irrecoverable financial losses.

"Why are you thinking so negatively? Why are you ignoring the brighter side? Builders claim that because of the demonetisation not only the property rates but home loan interest rates are also going to go down and real estate is going get a big boost!" - I asked.

"My agreement is already signed & registered at a much higher rate - reduced property rates is nothing but a loss for me - banks & builders are famous for ignoring old buyers - they only care for the new bookings & the new borrowers" - some flat buyers said.

"Big boost - means big problems - these notorious builders divert money and launch new projects - means assured delayed possession & inferior quality construction" - some flat buyers said.

"Reducing property rates, delayed flat possession & inferior construction quality were serious concerns for a long time - even when you booked - demonetisation hasn't created these issues - right?" - I asked.

"Right" - most of the flat buyers agreed.

I fail to understand why did these flat buyers take the risk of booking a flat!

Unaffordable property rates was not the only reason why flat buyers were not booking.

Poor construction quality, delayed possession, unfair & exploitative terms of transactions in the flat agreement - were equally responsible for discouraging the flat buyer to book.

By publishing circular of director general of police even Maharashtra Government had accepted that builders are committing crimes against the flat buyers.

By passing RERA the central government of India also announced the need to end builders' criminal business practices.

Point is - for the last 3 years - booking a flat was as dangerous as drinking & driving at high speed on the wrong side of Mumbai Pune Expressway.

Glaciers of property price reduction, inferior construction quality & delayed possession had already damaged the ship of Pune real estate market. These guys boarded this sinking ship without wearing life jackets. And now, after the demonetisation they have panicked and trying to jump off the ship. How stupid!

Guys, come on. Real estate development is a 'collective investment scheme'.

A Collective Investment Scheme (CIS) is an investment scheme wherein several individuals come together to pool their money for investing in a particular asset(s) and for sharing the returns arising from that investment as per the agreement reached between them prior to pooling in the money.

When you book a flat - you become one of the owners of the project.

When you book a flat - you become one of the partners of the development.

When you book a flat - you become one of the stakeholders in the venture.

As the owner - partner - stakeholder - you have all the rights to protect yourself.

To protect yourself order your builder to install new policies about - 1) Property Rate Protection 2) Third Party Construction Quality Audit Reports 3) Compensation for Delayed Possession.

1) Property Rate Protection - Till the completion of construction & obtaining 'completion & occupation certificate' - if the property prices are reduced - the same reduced property rates should be applicable to you - even if your agreement is registered. You should get the credit note for the reduced price which you can redeem at the time of possession.

Pethkar Projects' Siyona at Punawale is offering Property Rate Protection Policy from the day project was launched in 2014.

Rohan Builders was the first builder in Pune who offered Price Protection Scheme in 2009.

2) Third Party Construction Quality Audit - Durocrete Construction Quality Rating Agency Pvt. Ltd. (CQRA) is offering construction quality assurance services since 2004. CQRA advises, trains, monitors, inspects, audits construction at every stage. Home Inspect - prepossession inspection of every flat covers over '75 parameters' including electrical, plumbing, waterproofing etc.

Order your builder to appoint CQRA or any other third party construction quality auditor.

3) Compensation for Delayed Possession - When possession is delayed every month you lose - 1) Pre EMI - which is nearly an EMI of your loan amount + 2) Monthly Rent 3) You suffer social insult & mental agony. Obviously, compensation for delayed possession must cover your all losses. It means that 9% interest or a rent - which some scumbags are offering - is certainly not enough.

Order your builder to rewrite the compensation clause in the agreement. If it is not there - add it.

The Problem of builders in Pune is - they misunderstand their role & responsibilities.

"I am the promoter & developer - means the owner of this project & I will run it as I wish" is the feudalistic delusion of these scumbags. Exactly like politicians who believe that they own this country.

Obviously, initially, you will face resistance from your builder.

So, first you have tell these scumbags that you - the flat buyers - are the paymasters - owners of this collective investment scheme. Your builder is just a facilitator - a coordinator of services. If there is a deficiency in the services offered - he will be penalized.

And do your best to teach your dumbhead builder how these policies will also help him to survive the sinking Pune real estate market!

What say you?

Can you survive the sinking ship of Pune real estate market with the help of 1) Property Rate Protection, 2) Third Party Construction Quality Audit Reports 3) Compensation for Delayed Possession?

Would you like to suggest something more?

Please, share your ideas in the comments.

Related Story:

1) Pune property rates will keep on going down

Subscribe for Free!

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

Feel free to call me:

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



  

Pune property rates will keep on going down

What would be the effect of demonetisation of 500 & 1000 notes on Pune property rates?:

www.wpclipart.com Image

I feel pity for Pune builders.

In the last couple of years, the builders in Pune had lost respect & credibility.

Somehow, with the help of private housing finance companies these builders were managing to remain in business. They were tempting the buyers to book a flat by offering discounts & easy payment plans.

The naive flat buyers were reluctantly accepting these baits & booking flats only because they were still afraid of property price rise.

In spite of the huge inventory of unsold flats laying around, investors', bureaucrats' & politicians' black money was empowering the builders in Pune to hold on the property rates.

Instead of waiting for 50 % property price correction - it is safe to surrender and accept 15 % - 20 % discount and book a flat now - was the popular idea among these naive flat buyers.

But the demonetisation completely neutralized this fear factor. Flat buyers in Pune no more fear of property price rise. Flat buyers in Pune no more belive that of property rates will remain stagnant. Even naive flat buyers in Pune strongly believe that property rates in Pune are going to fall.

So, now, the builders in Pune have lost their most effective weapon - the fear.

But, there is no cash component in Pune - the difference in ready reckoner rate and selling property prices is not much - builders in Pune go for construction finance - if you consider the land price & construction cost, the property rates in Pune are quite reasonable and there is no scope for price reduction - some experts told me.

Booking a flat is a sentimental act - not a rational decision - dude! I told him.

But, financially price reduction is impossible - one expert said.

Financially? Whose money is this? This industry runs on the flat buyer's money - if you don't bend then they will break you - I told him.

I really feel pity for these dumb, disrespectful, unreliable, untrustworthy, powerless buggers.

You know?

In the last 15 days, since the demonetisation of 500 & 1000 notes on 8th November 2016, everybody asked me only one question - "What would be the effect of demonetisation of 500 & 1000 notes on Pune property rates?"

Eventually I realized that this was not the question. It was a firm belief. Not a wish. Not even a prediction. Everyone was very much sure that because of demonetisation property rates in Pune are going to go down.

Not only that! Everyone was ready to wait till the property rates really go down. Ready to wait to book a flat. Ready to postpone the registration of agreement to sale. Ready to renegotiate the price of the resale flat. Everyone was sure that there was no point in rushing. Better wait & watch.

What happens when the flat buyers do not book a flat?

Property rates go down. Right?

What say you?

Share your views in the comments, please.

Related Stories:

2) How to survive the sinking Pune real estate market

1) 8 Questions every flat buyer in Pune should ask a builder

Subscribe for Free!

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

Feel free to call me:

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