Ravi Karandeekar's Pune Real Estate Market News Blog: kumar builders

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Tuesday, April 4, 2017

A Visit to Mahalunge Hinjewadi Bridge

Mahalunge Hinjewadi IT Park Bridge on Mula River -
It's not about location. It's about illusion.

"Is LK a visionary or a illusionist?"
Whenever I come here - I ask myself.

My reader & the resident of KUL Ecoloch said.
We were at the broken rope bridge - connecting KUL Ecoloch to Rajiv Gandhi Infotech Park in Hinjewadi. LK means Mr. Lalit Kumar Jain of Kumar Builders KUL.

"Who knows? LK's intentions may be good but some evil curse may be preventing him from succeeding." My reader & the resident of KUL Ecoloch said.

"Why do you think so?," I asked.

"Look at this bridge! Not only I - but most of us working in Hinjewadi - booked flats in KUL Ecoloch only because of this bridge. LK invested some 7 crores to build this 120 meter long suspension bridge. He appointed well known British Engineer and Designer Sir Donald Bailey to design this bridge and M/S Garden Research Shipbuilders & Engineers ltd. to built it. And you know what? I - we - for a couple of months used it to go to our offices in Hinjewadi. Without bothering about the kaccha roads on the both sides of the bridge. But somehow - someone - broke the bridge and we had to stop using it. The reason for booking a flat in KUL Ecoloch suddenly vanished," said my reader & the resident of KUL Ecoloch Mahalunge.

"Broken things can be repaired," I said.

"That's the point! How come someone who can build a bridge - fail to repair it? Everyday I ask myself," my reader & the resident of KUL Ecoloch said.

"And the answer is - evil curse. Right?," I asked.

"Or it was all an illusion!," my reader & the resident of KUL Ecoloch said.

"Yes! Every builders uses illusion to sell the location of his project. For the last 4 - 5 years Pune builders are using the illusion of - this bridge - and Baner Balewadi Mahalunge Hinjewadi Road to sell their projects in Mahalunge & Sus," I said.

"But now it's not an illusion anymore! MIDC has started constructing the bridge!! Around June July 2018 it will be ready," my reader & the resident of KUL Ecoloch said.

"Yes! The bridge will be ready. Not the connecting roads!," I said.

"Why are you so pessimistic?," my reader & the resident of KUL Ecoloch asked.

"Am I?," I asked.

"Yes! You are very negative. You don't believe in the development - growth - future prospects of Sus & Mahalunge," my reader & the resident of KUL Ecoloch said.

"You are right. I refuse to believe in illusions - predictions - daydreams. You believed in all these things. What did you get?," I asked.

"It was my destiny! I made a mistake of believing that KUL Ecoloch Mahalunge was the destination," my reader & the resident of KUL Ecoloch said.

"You are not the only one," I said.

"No. I am not. We all are. Many more - who are believing in locational illusions of Mahalunge & Sus - are joining us everyday," my reader & the resident of KUL Ecoloch said.

What say you?

Why are young first time home buyers working in Hinjewadi are believing in illusions and are booking flats in Mahalunge, Sus, Maan Gram Panchayats?

Share your views in the comments, please.

Mr. Lalit Kumar Jain's KUL Ecoloch Hinjewadi Bridge:

MIDC's Mahalunge Hinjewadi Bridge:

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Tuesday, July 26, 2016

One flat buyer in KUL Ecoloch Mahalunge filed an FIR against the builder

Under 420, 34, 406 sections of Indian Penal Code &
Section 3 A, 4 A, 13 B & 23 A of Maharashtra Ownership of Flats Act (MOFA)
Hinjewadi Police station registered FIR against Riverview Properties,
the developers of KUL Ecoloch at Mahalunge:

Ms. & Mr. Ashwin Dudharam Gondane, the flat buyer in KUL Ecoloch Mahalunge filed an FIR against Kumar Builder KUL

The police can file an FIR against the builder!

1) Section 420 in The Indian Penal Code - is for cheating and dishonestly inducing delivery of property. It's a non bailable & cognizable offence. Punishment is imprisonment upto 7 years & fine.

2) Section 34 in The Indian Penal Code - is for the criminal acts done by several persons in furtherance of common intention

3) Section 406 in The Indian Penal Code - is for criminal breach of trust. It's a Cognizable & Non-Bailable offence. Punishment is imprisonment for 3 years, or fine, or both.

4) Hinjewadi Police registered the FIR because on the 1st of July 2016, Special Inspector General of Police Mr. Prabhat Kumar issued a circular and instructed Maharashtra Police to register FIR against the builders under Maharashtra Ownership of Flats Act (MOFA) if -

1) If the builder has not given possession of the flat on the date committed in the agreement.

2) If the builder has not obtained Completion & Occupancy Certificate before giving possession of flats.

3) If the builder has not displayed sanctioned plans at the site.

4) If the builder has not signed & registered the agreement after collecting 20 per cent of the property price from the flat buyer.

5) If the builder has not opened separate bank account & hasn't deposited moneys collected from the flat buyers in that account.

6) If the builder has not constructed as per the sanctioned plan or has constructed more than the sanctioned plan.

7) If within 4 months the builder has not applied for the formation of Co-operative housing society

8) If the builder has not done conveyance - has not transferred the ownership rights on the land & buildings - to the cooperative housing society - within the 4 months from the formation of the society.

In this circular, Mr. Prabhat Kumar, has informed that these are cognizable offences for which 1 to 5 years imprisonment is the punishment.

The circular also said that if they received this type of a complaint - the police have the right to register an FIR against the builder.

Who can imagine to register an FIR under MOFA?

I don't know about Pune Police, but for me it was a surprise. In fact, a big surprise. Mainly because I was under the impression that, nowadays, there is no law in force to regulate real estate market.

The MOFA was scrapped on 6th Sept 2015 by The Maharashtra Housing (Regulation & Development) Act, 2012. And the center government's RERA - Real Estate (Regulation & Development) Act 2016 - repealed it on the 1st May 2016. But RERA was not implemented fully.

So, when the notification mentioned MOFA - I was surprised.

Which flat buyer would like to file an FIR against the builder?

Second reason for surprise was registering FIR against the builders!

Who can think of filing an FIR against the builder?

Flat buyers in Pune? No!

Majority of the flat buyers in Pune do not even let me blog about their issues.

Filing an FIR against the builder? Just forget about it.

Pune flat buyers love their builders more than they love their children.

Why the police should not take any action against the builders!

A) Suo Moto Action:

Good! Special inspector general of police didn't tell the police to take suo moto action against the builders - as directed by Bombay High Court about illegal constructions. Remember what did the court say?

"Why do you (police) want some aggrieved individual to come and register FIR. Is the police helpless? Why cannot you (police) initiate action on your own. Is there nothing like taking suo moto action? Once the police is aware that an offence has taken place then suo moto cognizance can be taken," the court has said.

Just imagine what would have happened if police started taking suo moto action against the builders.

Incidents like Sachin Agarwal of Maple Pradhan Mantri Awas Yojana Scam running away in the presence of the politician would have been repeated every day. And the police would have been ridiculed in the media for that.

B) Civil War:

Obviously, someone must have thought that, to strengthen the people's trust in the Indian judicial system, suo moto or after the FIR is lodged, the police should avoid taking any action against the builders.

If all builders in Pune went to jail - the young IT professionals in Pune who haven't yet booked flats - may start an agitation against the police - demanding - if the builders go to jail who will fulfill our dream of owning a home!

Who knows? A major civil war would erupt between those who have booked the flats and those who haven't yet booked the flats. Those who are victims of the builders and those who are not victims of builders.

Police usher new era of friendship, cooperation and prosperity in Pune real estate market!

Pune police know that their main job is to protect the citizens. The best way to protect is to avoid war. A war between the flat buyers and the builders. If we can bring two warring factions on the same table we can prevent war and make peace between the builders & the flat buyers.

So, Pune police simply neglected the provocative news stories published in the newspapers about themselves. For example:

1) One builder said - the police circular opens builders to blackmail from all sections.

2) Mumbai builders claim the circular is just another ploy that would help police officers to extort money from them for any small reason.

3) Flat owners without OCs to file police cases against builders.

4) Mr. Sanjay Deshpande, one of the builders in Pune, announced that - "It's Police Raj Over Builder Raj!" - and asked - "What next? Apply Martial Law & bring Army with AK 47 to punish builders in the name of protection of common man!"

5) When home department wrote to director general of police that the circular is "inconsistent with provisions of the Act" - the builders announced that the circular is withdrawn.

But Pune police said - circular or no circular - we must stop war and make peace among the flat buyers and the builders in Pune.

We must usher new era of friendship, cooperation and prosperity in Pune real estate market.

And you know?

Though the first FIR against the builder was registered in Pune real estate market at Dehu Road - Pune police almost succeeded in their mission to make peace among the flat buyers and the builders.

I have seen how efficiently & effectively Pune police deal with this issue.

I have spent an entire day with one flat buyer at one police station. Thanks to Pune police! The builder successfully managed to convince the flat buyer not to file an FIR - at least that day. The next day - that flat buyer told me that he has realized the importance of friendship & cooperation!

One other group of flat buyers also went to register an FIR against their builder. But police persuaded them to discuss with their builder before filing an FIR and sent home.

Police, Builder & Flat Buyers at KUL Ecoloch Site Office on Saturday, 23rd July 2016

Because of these experiences, I was sure, Hinjewadi police will convince the flat buyers in KUL Ecoloch. They will not file an FIR against Kumar Builders KUL. That's why I didn't go to Mahalunge at 10 am on Saturday. Around noon, I called one of the flat buyers. He told me that they are at Hinjewadi Police Station!

"What? Where? Really!," I said in disbelief.

Are these flat buyers of KUL Ecoloch love their children more than their builder or what? I asked myself.

How can Pune police fail to stop war and make peace among the builder and the flat buyers? I asked myself.

I spent the entire day with the flat buyers of KUL Ecoloch at Hinjewadi Police Station but didn't get the answers.

If you know, please, let me know - out of some 1200 flat buyers in the first and second phase of KUL Ecoloch - how can only one flat buyer dare to file an FIR against the builder for not giving possession of the flat?

A few flat buyers of KUL Ecoloch at Hinjewadi Police Station

What? Who is the builder?

Why are you interested in the builder?

No. Lalit Kumar Jain's name is not mentioned in the FIR.

What about the arrest?

You people watch news channels and expect that every time after registering the FIR police go and arrest the culprit.

You are warmongers. You are not peace lovers.

But remember - Pune police are for peace. Peace between the builders and the flat buyers.

Pune police are trying to usher new era of friendship, cooperation and prosperity in Pune real estate market!

Amen.

Are these flat buyers of KUL Ecoloch love their children more than their builder or what?

1) An Invitation for Kumar Builders KUL Ecoloch Mahalunge Phase 1 & 2 Flat Buyers

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Friday, July 22, 2016

An Invitation for Kumar Builders KUL Ecoloch Mahalunge Phase 1 & 2 Flat Buyers

What is the occasion?
Satyanarayan Pooja or Haldi Kumkum Ceremony or what?

KUL Ecoloch May 6, 2011

Someone told me that on this Saturday, 23rd July 2016, at 10 am, all flat buyers in the phase 1 & phase 2 of Kumar Builders KUL Ecoloch at Mahalunge are invited at the site.

"Why?," I asked.

"There is some ceremony - you just blog this," said the fellow.

"What kind of ceremony?," I asked.

"Big ceremony. Even the builder is coming!," said the fellow.

"If the builder is the host - why are you asking me to blog an invitation?," I asked.

"Because it is a big event - even Pune Police are coming," the fellow said.

"Must be some cultural event - right?," I asked.

"Yes!," the fellow said.

"Satyanarayan?," I asked.

"May be - I am not sure," the fellow said.

"What can I write if you don't tell me what is the occasion! Satyanarayan Puja - Haldi Kumkum Ceremony - Pan Supari - Bhondla - Dahi Handi - be specific.," I requested.

"Why would the home buyers in KUL Ecoloch need any reason to visit their own homes?," the fellow said.

"But their homes are not yet ready. Right?," I asked.

"You need to visit the site to know whether your flats are ready or not! These guys are more on Magicbricks Now than at KUL Ecoloch!!," the fellow said.

"Really?," I said.

"Yes! Visit YouTube!!," said the fellow and shared these two videos -

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Monday, January 4, 2016

Lalit Kumar Jain warned - if a KUL Ecoloch flat buyer commits suicide, you are responsible

KUL Ecoloch flat buyers warn Lalit Kumar Jain in an interview to TV Channel:

Lalit Kumar Jain warned - if a KUL Ecoloch flat buyer commits suicide, you are responsible

On 2nd January 2016, around 11 am, I reached Bund Garden office of Kumar Builders KUL. A small crowd of KUL Ecoloch flat buyers was already gathered outside the entrance gate of Kumar Business Center.

"No banners? No protest?," I asked.

"We are here to meet Mr. Lalit Kumar Jain. He has called today's meeting," one flat buyer told me.

"You know? Kumar Builders has sent Dhamkiwala - threatening - email. Have a look," one flat buyer said and showed me the email on his mobile. The subject of the email was - Happy New Year "KUL Ecoloch Progress"

"Some motivated actions of few have brought bad name to company as well as project. This has affected sales and this is making funding of projects difficult. We are taking legal course of filling suit for defamation and damages. We have also decided not to have dialogue with the persons involved in defamatory activities."
- the 'Happy New Year' email said.

While I was reading, I saw a person video shooting the flat buyers' group.

"Are you from media," one flat buyer asked him.

"Police. Koregaon park police station. Kumar Builders has filed a complaint," the video shooter said.

"We are flat buyers from Kumar Builders' KUL Ecoloch at Mahalunge. Our possession is delayed by 2 years. We are here because Kumar Builders has invited us for the meeting. How can Kumar Builders file police complaint against us?," someone asked the video shooter.

The video shooter police went in Kumar Builders office.

"Intimidation! Kumar Builders is using police to frighten us," one flat buyer said.

"In fact, police video is good for us. Now, Kumar Builders has to accept that KUL Ecoloch flat buyers are protesting against delayed flat possession. It's P R Agency can't misguide the media about 'fake - paid - protestors'," another flat buyer said.

"Involvement of police is a serious development. We have to take it seriously. Are we doing something unlawful? Are we all ready to face the consequences of our actions?," that other flat buyer said.

While they were debating about involvement of police, a TV news reporter came and started interviewing KUL Ecoloch flat buyers.

"After waiting for 5 years - after paying 95 percent money - Lalit Kumar Jain - Kumar Builders - hasn't given possession of our flats in KUL Ecoloch. In 2011, we booked flats. The possession was in December 2013.

In the last 2 years - in 2014 - 2015 - we had around 20 meetings with Lalit Kumar Jain & his staff. In every meeting Lalit Kumar Jain requested for more time. Promised new possession date. But, Lalit Kumar Jain didn't fulfil his promise. Lalit Kumar Jain didn't complete the construction. Lalit Kumar Jain didn't give us possession.

Instead of that - Lalit Kumar Jain has sent us - architect's 100 percent completion certificate and - demand letters for the last payment installment & the maintenance charges. So, on 12th December, we all came to this Bund Garden office & protested against Kumar Builders.

On 26th December 2015, at KUL Ecoloch site, we proved that flats are not 100 percent ready for possession & demanded that Kumar Builders should withdraw the architect's completion certificate & demand letters for the last installment of flat payment & maintenance charges.

Today we are here because Mr. Lalit Kumar Jain has called this meeting. However, at the last moment, we were told that he is not available. Which is disappointing," in his interview, one of the flat buyers told the TV reporter.

When the TV reporter was interviewing the flat buyers, the video shooter police came out of Kumar Builders office. He looked little surprised to see the TV crew. He gave a report of his meeting with some executive of Kumar Builders.

"Instead of protesting - go to court!," the police gave friendly advice.

"Sure. We are going to court. Some of us have already gone to consumer court," one flat buyer told him.

"Is it illegal to protest at the gate? Will you take us in custody for protesting?," the other flat buyer asked.

"You can protest. Just inform us - 2 days in advance," the police said.

Now, quite a big crowd had gathered around the flat buyers from KUL Ecoloch. Stopping their cars & bikes people were joining the crowd.

Sun had become unbearable. Particularly for the children of the flat buyers. For the last 2 hours these hungry & thirsty kids were patiently standing at the gate of Kumar Builders' office. Looking at their parents enthusiastically discussing what more can be done to get the possession of their flats.

A few flat buyers from other delayed projects of Kumar Builders - KUL Nation, KUL Utsav & 2nd phase of KUL Ecoloch - had also joined the crowd.

At last, around 1 pm, Kumar Builders office invited the flat buyers for the meeting!

In the small conference hall, on the top floor of KBC, Kumar Business Center, chairs were arranged. Water & tea was served. All were curious to know who was going to represent Lalit Kumar Jain. A lady entered the room and took the chair.

"Why are you all here? Instead of coming here - it would have been better - if you had gone to the site," the lady said.

"We are here because Lalit Kumar Jain has called us here!," one flat buyer reminded her.

"But, yesterday itself we have informed you that Mr. Jain is not available. Now, let us do one thing. All of us will go to the site and meet Mr. Karthik!," the lady said.

"Mr. Karthik! For what? Last weekend, at the site, we had a meeting with Mr. Karthik. What is the point in meeting him today?," one flat buyer said.

"Mr. Karthik will note down whatever work is pending in each & every flat. Let us go to the site & meet him!," the lady said.

"Why does Mr. Karthik need us to dictate the list of the pending work? Is he so inefficient that he does not know his own work?," yet another flat buyer said.

"You may be new in this company but all of us are doing this for the last 2 years," one flat buyer said.

"Let us not talk about what happened in the past. Let us focus on completing the pending work & getting the flats ready for possession," the lady said.

"Good idea! Let us focus on possession. We want possession with the completion certificate from the government authority," one flat buyer said.

"Yes! One month ago - I have paid 100 percent money - but you have given me possession for furniture & wood work. I booked this flat to live. Not for making furniture. I want possession with completion certificate - water supply, power supply, lift, amenities, safety security," the other flat buyer said.

"By the time your flat is ready all these things will be ready too - some societies - in fact - are completely ready!," the lady said.

"You don't tell me what is ready. You sit in this air conditioned office. I stay in KUL Ecoloch. I know what is ready and what is not. Every day, from the site office to my flat, I carry 20 liter water can on my shoulders," one flat buyer shouted.

"We are sure that Kumar Builder - the oldest builder in Pune - knows the meaning of possession with completion & occupancy certificate!," getting up one flat buyer said.

It was very clear that there was no point in talking with the lady. Disgusted, frustrated & disappointed flat buyers left the office of Kumar Builders and again gathered at the entrance gate of KBC.

While they were there, one more TV reporter came to interview KUL Ecoloch flat buyers.

From not completing construction, not providing basic facilities like water, power, sewage, to issuing architect's completion certificate for incomplete flats, one flat buyer told everything.

One lady flat buyer talked about financial loss & mental agony because of the delayed possession.

One flat buyer expressed his anger about lies & threats and asked,"We have given money to Lalit Kumar Jain. 95 percent of property price. We have given ample time to Lalit Kumar Jain. 5 years! What more Lalit Kumar Jain wants from us? Does Lalit Kumar Jain want our Jaan - Pran?"

"Only because of the slab related payment terms, Lalit Kumar Jain could take 95 percent money from us - now - if he thinks that - he can get away without completing the project - he is wrong. Lalit Kumar Jain has no option but to complete KUL Ecoloch. No one can stop us from getting possession of our flats with completion certificate," the other flat buyer said.

"Because of Lalit Kumar Jain - we are suffering financially as well as emotionally. Our family lives & careers have taken a heavy toll. We are under tremendous stress. If someone can not deal with it and tries to harm himself - tries to take his own life - no one else but only Lalit Kumar Jain will be responsible for it," one flat buyer said.

"Lalit Kumar Jain - better complete the project in one month & give us possession - if someone does something to himself - जीवाचे बरे वाईट - you will be responsible for it," Sachin Kamble said in his interview to the TV reporter.

KUL Ecoloch flat buyers standing around Sachin clapped to express their consent.

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Saturday, December 19, 2015

Who is the instigator of the conspiracy against Kumar Builders?

Who is paying the protesters?

Who is the instigator of the conspiracy against Kumar Builders? Who is paying the protesters?

Why would any flat buyer in KUL Ecoloch Mahalunge stage the public demonstration against Kumar Builders KUL?

Why would any flat buyer in KUL Ecoloch give false information about their own project?

Why would any flat buyer in KUL Ecoloch complain about not getting possession - when the process of handing over flat possession is going on?

Why would any flat buyer in KUL Ecoloch complain about incomplete work - when Kumar Builders has provided Lifts, Roads, Water Treatment Plant, Fire Fighting Systems, Electricity, Kids Play Area, Designer Gate & Compound Wall, Interior Lobbies etc?

Why would any flat buyers in KUL Ecoloch complain against their builder - when Kumar Builders KUL has given higher specifications than promised?

Why would any flat buyer in KUL Ecoloch complain against their builder - when Kumar Builders has outperformed everywhere?

Why were there only a bunch of people demonstrating at Pune corporate office of Kumar Builders when KUL Ecoloch has 800 flats?

Is it because - the demonstrators were not the flat buyers in KUL Ecoloch Mahalunge?

Is it because - someone is conspiring against Kumar Builders?

To tarnish the reputation of Kumar Builders - is someone employing paid demonstrators?

Is there a conspiracy against one of the biggest & oldest real estate developer - Kumar Builders KUL?

Who is the instigator of the conspiracy against Kumar Builders KUL - who stand for a value system that is put into practice in its construction, progressive design, proactive customer service?

Mr. Anilkumar Yadav of Concept Public Relations India Ltd. has asked me to consider all above questions about the demonstration staged against Kumar Builders on 12th December 2015.

Response from Kumar Urban Development - was the subject line of the email.

Concept Public Relations India Ltd. is the reputation manager of Kumar Builders KUL. Mr. Anilkumar told me in the telephonic conversation.

Dear Mr. Anilkumar, I guess, you were expecting me to write something like this on 'Ravi Karandeekar's Pune Real Estate Market News Blog'. Right?

Dear Mr. Anilkumar, I hope, I have succeeded in adding to the reputation of Kumar Builders KUL.

What say you guys?

Please, share your views the comments.

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Saturday, June 25, 2011

Kumar Builders' KUL Utsav, Kondhwa Budruk
- A Reason to Celebrate!

Good news for those who have booked a flat in Kumar Builders' KUL Ecoloch at Mahalunge, launched on this Akshay Tritiya in 2011!

Kumar Builders' KUL Utsav Kondhwa Budurk, launched on the previous Akshay Tritiya, on 15th May 2010, has received necessary sanctions this month, in June 2011.

In just 12 - 13 months from the launch!

Obviously, all those who had given 15% own contribution to Kumar Builders, a.k.a Kumar Urban Development Ltd. (www.kumarbuilders.com) and were anxiously waiting for more than a year are very happy.

Now, after a year of the launch, construction of KUL Utsav will, soon, begin!

And, soon, in another few years', they hope to get possession of their flats!!

Isn't this reason to celebrate?

KUL Utsav Kondhwa Budruk Launched on 15th May 2010, Akshay Tritiya, an auspicious day!:

KUL Utsav Kondhwa Budruk Launched on Akshay Tritiya 15th May 2010 (Click the Image to Enlarge)

View Kumar Properties' Kumar Palmcrest, 2 BHK Flats at Pisoli, Pune in a larger map

You know what?

The other day, i got down at Khadi Machine Chowk, on Katraj Saswad Road, to visit Kumar Properties' Kumar Palmcrest at Pisoli. I was shocked to see a few people at the site of Kumar Builders' KUL Utsav, walking towards the site office.

Showing huge curiosity and happiness, i asked the security at the gate, "Why did you send these people in that office? Is anybody there at the site office?"

"Yes, Sirji is in the office. These people were 'inquiries'!," the security said.

"Really! Good!! And what's that? JCB! Whats that JCB doing in KUL Utsav?," i asked and went in.

Looking at the condition of the site office of KUL Utsav, first, i felt that Kumar Builders is demolishing it. But, then i realized that - No!, In over a year, Kumar Builders didn't get time to complete it.

Of course, after the launch of KUL Utsav, there was no reason for Kumar Builders to complete it. Anyways, the site office has already played it's role quite well!

A few people, whom i followed, were standing in a circle discussing. "Is this the Kumar Project which is launched today?," one of them asked me.

"Kumar Palmcrest! Yes, i think so!! But there is no one here, no name or picture of the project or anything here!!," I suggested.

"Now a days, there are no visitors on the day of the launch, but builder's people are always there at the site. Let us see if someone is inside," one of them suggested.

We went a little further in and saw a man inside the room talking to someone. One of my new friends asked,"Is this project launched today? We saw the ads in many newspapers!"

"No. This project was launched last year. On 15th of May 2010. This is Kumar Builders' project. Today, Kumar Properties launched Kumar Palmcrest. It is in Pisoli. Further on this road towards Undri Chowk," the man in KUL Utsav told us.

"Are flats available here?," one of my new friends asked.

"Yes, we have 1 BHK, 2 BHK, 2.5 BHK Flats. If you wait for a moment, i will give you all information. Till then, you can visit our sample flat," the man in KUL Utsav said.

Another man, took us to the sample flat. With a great effort, this other man in KUL Utsav opened the door of the sample flat. I think it was not opened for months.

All of us went inside the flat.

"Is this sample flat? Are you sure?," one of my new friends asked the other man in KUL Utsav.

"Yes, sir. This is a sample flat. There is one more," the other man in KUL Utsav said.

"Didn't i tell you Kumar Builders and Kumar Properties are 2 different builders?," one of my new friends said.

"Yes! But many people don't know this! You know? Recently, one of my friend even booked in Kumar Properties' project in Hinjewadi - assuming that it was Kumar Builders' project!," i said.

"But, here no one will do that! Let us get out of here and go to Kumar Properties at Pisoli!," one of my new friends said and all of them left.

I decided to wait and meet 'the man' in the site office of Kumar Builders' KUL Utsav - the sales person at KUL Utsav.

For me, he is the bravest real estate salesperson in the entire Pune real estate market. Not waiting to meet him, i felt, would have been disrespect of all salespersons in Pune real estate market.

Look, i was rewarded for being kind!
The salesperson at KUL Utsav gave me the good news about the sanctions!

Kumar Builders, a.k.a. Kumar Urban Development ltd., believe in launching a new project on an auspicious day of Akshay Tritiya.
In 2010, it was KUL Utsav at Kondhwa Budruk.
In 2011, it was KUL Ecoloch at Mahalunge.

Kumar Builders never miss Akshay Tritiya.
No formalities, like sanctions - approvals - permissions from PMC / PCMC / State or Central Government, can stop them from launching a new project on Akshay Tritiya.
They go ahead and launch the project - even if - the sample flat and the site office is not ready!
Like they did in KUL Ecoloch at Mahalunge.

Another important feature of Kumar Builders is - they book a flat by accepting only 20% own contribution!

For the rest of the property price they wait till you register the agreement.
For example, here at KUL Utsav at Kondhwa Budruk, they were waiting for more than 13 months for you to sign and register your agreement!

Obviously, when i went to Kumar Palmcrest in Pisoli, i asked the salesperson about booking amount and sanctions.

Kumar Properties never launch a project without sanctions and approvals, the salesperson at Kumar Palmcrest Pisoli said.

The salesperson at Kumar Plamcrest, also, told me that the booking amount is only Rs. 50,000. But, Kumar Properties is not going to deposit - en-cash - your cheque till you go for the agreement!

And, you get a month's time to give your own contribution.

And you know what? The salesperson at Kumar Plamcrest Pisoli said that after giving your own contribution and stamp duty & registration charges - in the next 8 days - you have to register your agreement.

Boring!
Isn't it?
The Kumar Properties don't give you a single reason to celebrate!

You, who booked at Kumar Builders' KUL Ecoloch Mahalunge, are lucky!
You, lucky fellows, are going get many reasons to celebrate.
In fact, for sure, your life is going to become a celebration!
Right?

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.

Yes, my email id is RaviKarandeekarsBlogs@gmail.com Feel free to write. I reply as soon as i can.

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Monday, April 11, 2011

Pre-Launch Offer of KUL Ecoloch Mahalunge Township - real estate and chemical locha!

Mr. Lalit Kumar Jain on Real Estate Locha:

I am big fan of Mr. Lalit Kumar Jain. Chairman and Managing Director of Kumar Builders Urban Development Ltd. (KUL) (www.kul.co.in) and President of Confederation of Real Estate Developers' Associations (CREDAI).

In the last couple of months, Mr. Lalit Kumar Jain has talked a lot about delay in getting sanctions and approvals for the real estate projects and no bank finance for the builders. Result is, real estate locha!

Of course, those who have booked at the pre-launch or the launch stage of the projects in Pune real estate market know all about real estate locha!

Some of you, also know about 'possession locha in Pune real estate' and how helpful "CREDAI Pune" is!!

Point is, after learning about real estate locha from Mr. Lalit Kumar Jain, i came to the conclusion that there is no point in writing about any project till the builder gets all sanctions and approvals.

From the experience of Nanded City Pune, i added the time required for the pre-construction site development and decided that i should write about the township projects only when the actual construction starts!

If you haven't read about real estate locha, please, look what Mr. Lalit Kumar Jain says:

"Whether buying land, expediting government clearances, a process that can take three months to a year and half, approaching over 40 government authorities or agencies involved in the project clearance, there is potential for added costs.

From buying land to project launch, developers wait for up to three years. With bank funds unavailable to developers, input cost of funds for land can double in this time," Mr Lalit Kumar Jain, National President, Credai and Managing Director of Kumar Urban Development in Hindu Business Line

"The Credai has prepared a comprehensive checklist of requirements of each department, like environment, traffic, garden and water and this list will be submitted to the Union minister of Urban Development, Kamal Nath, later this month.

"If this list is approved by the government, a builder will get the approval within three weeks. Thus, we can control 25% cost of delay, thereby reducing flat prices. We have no control over the cost of land, material and labor, so at least let us control the cost of delay," added Lalitkumar Jain, President of the Confederation of Real Estate Developers Associations of India, (Credai), in The Times of India

At the moment the sector has many hurdles in the process of obtaining over 40 approvals including environment, high rise, airport authority and police, Jain said adding that some states like Maharashtra were taking over a couple of years for according all clearances," Confederation of Real Estate Developers' Association of India (Credai) president Lalit Kumar Jain said today - in ibnlive.com

The Confederation of Real Estate Developers' Association of India (Credai), the apex body of private real estate developers, today said that it would make the code of conduct mandatory for all its members.

President of Credai Lalit Kumar Jain said that members advertising their projects in the media should clearly mention about their affiliation with the apex body.

They should also clearly mention the saleable area (which is the super-built area) and the carpet area in brochures, he told reporters here.
Jain said that Credai had also set up a grievance redressal mechanism for buyers to register complaints with the body.

He said that Credai would arrange for arbitration between two parties to avoid going to the court.

Any member who was found not adhering to the code of conduct would be expelled from the body, he said. (Credai to make code of conduct mandatory for members - Press Trust of India)

"Kumar Builders has postponed plans for initial public offering and now Kumar Builders are in talk with private equity firms to raise around $300 million over 2011-12. The Pune-based real estate firm is creating special purpose vehicles (SPVs) for each of its projects, and plans to sell 26 per cent to PE firms in each SPV.

“Kumar Builders will hive off 26 per cent stake of each project to private equity players for raising the funds.

We hope to complete the process before next fiscal-end,” Lalit Kumar Jain, chairman of Kumar Builders, told Financial Chronicle.

The company is in talks with several PE players both in the domestic market and overseas
market for raising funds, according to him.

Jain said the company has postponed plans for IPO for the time being as market sentiment is not that bullish. Kumar Builders, had filed an application for IPO in 2009 to raise around Rs 450 crore in 2009 but later deferred the plans due to adverse market conditions.

The company will launch one residential project in Kalina, one in Vile Parle (East) and another in Ghatkopar, each project counting 100 flats. It will also launch one special economic zone in Hinjawadi, in Pune. The total investment for the projects will be around Rs 1,050 crore, according to Jain.

In February, the company raised $55 million from Dutch equity firm FMO.

"The $55 million which we raised recently will also be utilized for the new residential and SEZ projects that we are launching in the next quarter," Jain said.

There is liquidity crunch in the market and raising funds has become difficult for real estate companies as banks turned extremely cautious. "These projects are expected to be completed in next seven years," Jain said." (Kumar Builders eyes $300m PE Funding in domestic and overseas market)

Chemical Locha in Mr. Property Buyer's Brain!

You know? On phone, many times i am rude. As rude as some of your comments on my blogs. Sometimes, even i insult the caller. For example, yesterday, i told the caller that - like Munnabhai - there is a chemical locha in his brain!

The home buyer called on my mobile 919860044110, to discuss about investing in KUL Ecoloch Mahalunge Township. He told me about the pre-launch offer and asked for my take. I told him how i respect and follow Mr. Lalit Kumar Jain. "As per Mr. Lalit Kumar Jain - sanctions and approvals - is a big real estate locha! So, you should not consider any project unless it receives all necessary sanctions!," i told the caller.

When the caller started talking about the low property prices at launch and convincing me about the expected appreciation, i requested him to "think in numbers" and consider the "risk factors" about investing at pre-launch or even at the launch stage of any project.

But, the caller was not listening. He kept on telling me about the pre-launch offer of KUL Ecoloch Mahalunge Township. Ultimately, i asked him, "Why did you call? To sell Kul Ecoloch Mahalunge Township? Or to seek my advice?"

"For your advice!," the caller said.

"Good! My advice is - you need psychotherapy - there is a chemical locha in your brain!," I said. I was about to give him the telephone number of the shrink but the caller ended the call.

You know? Many property buyers, particularly those who fantasize about investing in a plot of land, those who dream of earning big returns and a huge appreciation from a 1 BHK Flat in some fringe village, those who go for the pre-launch offer of the projects which haven't yet received N A, have found my shrink quite useful for cleaning chemical locha in their brains!

KUL Ecoloch Mahalunge - Aayla! Lochya Zala Re!!

Dear wife or a girl friend? Big Builder or my principal? My Real Estate Guru - Honorable Mr. Lalit Kumar Jain or my old friend Mr. Fahim Khan? Why do i have to face this type of a situation again and again?

You know? Late in the evening, my old friend Mr. Fahim Khan, Dy. General Manager, Sales & Marketing, Kumar builders (KUL), called me, "Ravi, we have soft launched Mahalunge Township and I want you to write a blog about our pre-launch offer!," Fahim said.

"Lochya Zala Re!," i said to myself and asked, "Fahim, have you received all necessary sanctions?"

"Sanctions will come in a month. Consider, how much your readers can save...how much 'thanks' you will receive from your readers!," Fahim said.

"Lochya Zala Re!,' i said to myself and asked,"But...what about Mr. Lalit Kumar?"

"What about him? Want to interview him? Don't worry. I will arrange! I am sending all data..," Fahim said.

"Fine...send....but for more info - i will give your contact number on my blog. OK?," i said.

Is there any chemical locha in my brain?

Why didn't i refuse to blog the pre-launch offer of KUL Ecoloch Mahalunge Township?

Considering the huge number of property buyers who are suffering with chemical locha about investing in Pune real estate, Ravi Karandeekar, whether you write or not, you have to keep on talking - discussing - answering phones on this project near Hinjewadi.
So, why not blog your views and avoid talking about it?

I went on debating.
Result is - at least, you will not call me and tell - Lochya Zala Re!

You will call:
Mr. Fahim Khan, Dy. Manager, Sales & Marketing, Kumar Builders
Cell : +91 7709002283 E-Mail: fahim.khan@kul.co.in
+91 20 4000 6000 F: +91 20 2633 0584
Website: www.kul.co.in

If you want to view the PDF Files about the project, please, visit these links:

1) Location of KUL Ecoloch Mahalunge Township

2) Layout of KUL Ecoloch Mahalunge Township

(Click the Image to Enlarge)

3) Presentation of KUL Ecoloch Mahalunge Township:

4) Floor Plans of KUL Ecoloch Mahalunge Township:

1) 1st floor
2) 2nd floor
3) 3rd floor
4) 4th floor
5) 5th floor
6) 6th floor
7) 7th floor

5) Specification of KUL Ecoloch Mahalunge Township:

6) Amenities at KUL Ecoloch Mahalunge Township:

7) Pre-Launch Property Prices at KUL Ecoloch Mahalunge Township:

Updates:

3) Kothrud police booked Lalit Kumar Jain for cheating, breach of trust and forgery

2) THURSDAY, MAY 26, 2011

Visit to Kumar Builders' KUL Ecoloch Mahalunge!

1) FRIDAY, MAY 6, 2011

Kumar Builders' KUL Ecoloch Mahalunge, Baner Annexe, near Hinjewadi IT Park Pune, Launched!

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Friday, May 14, 2010

Kumar Urban Development Ltd (Kumar Builders) to launch KUL Utsav at Khadi Machine Chowk, Katraj Kondhwa Road junction, tomorrow!

Property Rate Rs. 2,750 per sq.ft.!

Kumar Urban Development Ltd's (www.kumarbuilders.com) KUL Utsav will have 1 BHK, 2 BHK, 2.5 BHK & 3 BHK Compact Flats. At the property rate of Rs. 2,750 per sq.ft., for a saleable area, property prices would be:

1 BHK Flat - 427 saleable - Rs. 11,74,250

1 BHK Flat - 438 saleable - Rs. 12,04,500

2 BHK Flat - 659 saleable - Rs. 18,12,250

2 BHK Flat - 674 saleable - Rs. 18,53,500

To know the property price of 2.5 BHK & 3 BHK Flats, please, contact:

Kumar Urban Development Ltd
Kumar Capital, 2nd Floor,
2413,East Street, Camp,
Pune, India - 411 001.
Tel. : +91 (020) 40006000 /1/2/3, 26350065.
Fax : +91 (020) 26330584.
E-mail : sales@kul.co.in

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Wednesday, February 17, 2010

Wow! Lalit Kumar Jain's Kumar Urban Development Limited (KUL) takes up 18 redevelopment projects in Mumbai!! Wow!!!

Work is on in eight of these projects and the company will start delivering flats by the year-end and complete the process of possession in the rest of the projects within 18 months to 36 months, depending on the size of the project, a press release from KUL said. Wow!

Pune-based realty developer Kumar Urban Development Limited (KUL) today said it had taken up 18 redevelopment projects, including two skyscrapers, in Mumbai with an initial investment of around Rs 500 crores.

"Redevelopment is the future of real estate in Mumbai that faces severe constraints on the availability of open land within the city limits," KUL Chairman & Managing Director Lalitkumar Jain said.

"On the one hand the demand for housing stock is rapidly growing in the city, while on the other there are thousands of ageing buildings which are dilapidated and have reached a stage where it is not possible to carry out structural repairs. Moreover, their rehabilitation does not make economic sense, and it is better to construct new buildings instead," Mr Jain, who is also the Vice-President of the Confederation of Real Estate Developers Associations of India (CREDAI), said.

According to the release, KUL has filed its Draft Red Herring Prospectus (DRHP) with the regulator Securities and Exchange Board of India (SEBI) seeking to launch its initial public offer (IPO) to raise up to Rs 450 crores.

To read more, please, visit NetIndian

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Friday, December 4, 2009

Realtors move to metro peripheries for villa projects

However, Kumar Builders launch "Kumar Couture", 24 sky-villas, in Worli, Mumbai!

With signs of economic revival clearly becoming visible, real estate developers in metros are moving away from prime locations to the peripheries for developing villa projects in the form of row-houses, bungalows and villa-type apartments. According to industry experts, this is being done to meet the growing demand for such housing.

Mumbai-Pune real estate developer, ( who has joined the IPO bandwagon,) Kumar Urban Development has launched Sky Villas project which will be developed near the Worli Sea Link.

A 270-m high tower called Kumar Couture will have villas of 8,000 square feet carpet area each. A total of 24 villas are being accommodated in the project. Lalit Kumar Jain, its chairman and managing director said, "“The height between each villa will be equivalent to four floors of normal structures. We are offering triplexes and duplexes."

To read more, please, visit Financial Express

November 2009 - Top 10 popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

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Friday, May 22, 2009

Kumar Builders open booking of the first 30 stories skyscraper in Pune, 45 Nirvana Hills, first phase of 79 acre township at Paud phata on Karve road

Property rate Rs. 4,500 per sq.ft.
(on saleable area)!

2 bhk flat - 728 sq.ft. - 64.60 lakh

2.5 bhk flat - 991 sq.ft. - 82 lakh

3 bhk flat - 1,380 sq.ft. - 1.10 crore

4 bhk flat - 1,884 sq.ft. - 1.5 crore

(All inclusive total cost in rupees,
including 1 car park (as per the law!)
Carpet Area)

Floor rise Rs. 25 per floor extra

No Specifications:
Raw or Bare Flats - without internal finishing!

No finishing, paint, tiles, plumbing and sanitary fittings! You are free to choose and get it done on your own!!

Basement and 6 floors for parking, 2 floors for amenities

Flats from 9th floor to 30th floor

21 floors sanctioned by PMC, 22 to 30th floors pending

Possession 36 months: July 2012

421 flats in 4 buildings

provision for 3 car parks per flat

High-rise buildings: Solution to the shortage of residential space in Pune city:

The proposal to allow construction of buildings with height of up to 100 metres was cleared by the civic body during the tenure of commissioner Pravinsinh Pardeshi. The proposal had come as a response to the shortage of residential accommodation in the city.

The government, while clearing the PMC proposal, has divided the high-rise buildings into four categories: 36-40 metres, 40-50 metres, 50-70 metres and 70-100 metres. These categories will have to be constructed on plots admeasuring 2,000 square metres, 4,000 sq m, 6,000 sq m and 8,000 sq m, respectively and will require minimum access road width of 12 m, 15 m, 18 m and 24 m, respectively. The Times of India

Tuesday, April 4, 2017

Mahalunge Hinjewadi IT Park Bridge on Mula River - It's not about location. It's about illusion.

Mr. Lalit Kumar Jain's KUL Ecoloch Hinjewadi Bridge:

MIDC's Mahalunge Hinjewadi Bridge:

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Tuesday, July 26, 2016

Under 420, 34, 406 sections of Indian Penal Code & Section 3 A, 4 A, 13 B & 23 A of Maharashtra Ownership of Flats Act (MOFA) Hinjewadi Police station registered FIR against Riverview Properties, the developers of KUL Ecoloch at Mahalunge:

The police can file an FIR against the builder!

Who can imagine to register an FIR under MOFA?

Which flat buyer would like to file an FIR against the builder?

Why the police should not take any action against the builders!

Police usher new era of friendship, cooperation and prosperity in Pune real estate market!

Related Story:

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Friday, July 22, 2016

What is the occasion? Satyanarayan Pooja or Haldi Kumkum Ceremony or what?

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Monday, January 4, 2016

KUL Ecoloch flat buyers warn Lalit Kumar Jain in an interview to TV Channel:

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Saturday, December 19, 2015

Who is paying the protesters?

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Saturday, June 25, 2011

KUL Utsav Kondhwa Budruk Launched on 15th May 2010, Akshay Tritiya, an auspicious day!:

Related Stories:

Feel free to call me:

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Monday, April 11, 2011

Mr. Lalit Kumar Jain on Real Estate Locha:

Chemical Locha in Mr. Property Buyer's Brain!

KUL Ecoloch Mahalunge - Aayla! Lochya Zala Re!!

4) Floor Plans of KUL Ecoloch Mahalunge Township:

5) Specification of KUL Ecoloch Mahalunge Township:

6) Amenities at KUL Ecoloch Mahalunge Township:

7) Pre-Launch Property Prices at KUL Ecoloch Mahalunge Township:

Updates:

Related Stories:

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Friday, May 14, 2010

Property Rate Rs. 2,750 per sq.ft.!

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Wednesday, February 17, 2010

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Friday, December 4, 2009

However, Kumar Builders launch "Kumar Couture", 24 sky-villas, in Worli, Mumbai!

Related Story:

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Friday, May 22, 2009

Property rate Rs. 4,500 per sq.ft.(on saleable area)!

2 bhk flat - 728 sq.ft. - 64.60 lakh

2.5 bhk flat - 991 sq.ft. - 82 lakh

3 bhk flat - 1,380 sq.ft. - 1.10 crore

4 bhk flat - 1,884 sq.ft. - 1.5 crore

(All inclusive total cost in rupees,including 1 car park (as per the law!)Carpet Area)

Floor rise Rs. 25 per floor extra

No Specifications:Raw or Bare Flats - without internal finishing!

Basement and 6 floors for parking, 2 floors for amenities

Flats from 9th floor to 30th floor

21 floors sanctioned by PMC, 22 to 30th floors pending

Possession 36 months: July 2012

421 flats in 4 buildings

provision for 3 car parks per flat

High-rise buildings: Solution to the shortage of residential space in Pune city:

Subscribe for Free!

Mahalunge Hinjewadi IT Park Bridge on Mula River -
It's not about location. It's about illusion.

Under 420, 34, 406 sections of Indian Penal Code &
Section 3 A, 4 A, 13 B & 23 A of Maharashtra Ownership of Flats Act (MOFA)
Hinjewadi Police station registered FIR against Riverview Properties,
the developers of KUL Ecoloch at Mahalunge:

What is the occasion?
Satyanarayan Pooja or Haldi Kumkum Ceremony or what?

Property rate Rs. 4,500 per sq.ft.
(on saleable area)!

(All inclusive total cost in rupees,
including 1 car park (as per the law!)
Carpet Area)

No Specifications:
Raw or Bare Flats - without internal finishing!