Thursday, November 3, 2011

Megapolis Hinjewadi - To Buy or Not to Buy?

Visit to Megapolis Hinjewadi Phase 3:


When i decided to visit Kumar Properties and Avinash Bhosale Group's Megapolis (www.megapolis.co.in) in Hinjewadi Phase 3, I was not expecting that i would have to face some kind of "internal conflict"!

For me, Megapolis was the project to test that i can manage to travel by public transport, can walk a Kilometer or two and, if necessary can climb the staircase.

In the Sunway - Smart Homes 2, everyone knew that, for a while, only a few Non Garden Facing 2.5 BHK Flats on the first or top floors were available for booking at the property rate of Rs. 3,400 per sq.ft.

Same with the Sexy Sangria Towers! We all knew that a few 2 BHK Flats, 2.5 BHK Flats & 3 BHK Flats were available - mostly on higher floors - means above 16th floor - whose possession is after 2 years - in 2013 - 14!

True, some of you were somewhat angry because Megapolis hasn't launched Smart Homes 3 and were pressing me to find out "what's the problem?" But, i myself was not at all eager about a new launch - instead of that - i was concerned about the progress of construction of Sangria - Smart Homes 2 and possession of Sparklet - Smart Homes 1 and Sangria Towers.

When i found out that Mr. Hemant Kulkarni and all senior executives were not at site, i accepted that i was not going to get any info to share with you. As i have planned, my trip to Megapolis would be nothing more than my fitness test. And, that was OK for me.

Though, it was a working day, there were a few new "inquiries" at the site office of Megapolis, as well as a few property buyers who were visiting to complete the formalities. For a while, i had a small talk with the satisfied and successful salespersons and went on observing their interactions with the new "inquiries" - home buyers who were interested in Sangria Towers in Megaplois.

"95 Years Lease" "Distance from Hinjewadi Flyover" & "Basic Amenities - Services" were always concerns about Megapolis for many. But, generally, never the property and prices at Megapolis!

Yesterday, for the first time, i observed that the home buyer was in a dilemma because of the property and price of Sangria!

If the builder keeps on pushing irrational property prices, for sure, not only the new "inquiries", but the real estate investors who had booked with an idea to sell at higher rates and en-cash appreciation may face the problem, i felt.

What should i do? At these property prices and with these possession dates, should i recommend to buy or not to buy in Megapolis Hinjewadi Phase 3?

Oh! My God!! I am facing "internal conflict" about Megapolis! One of my favorite projects in Pune real estate market!!

Have a look at these 2 BHK, 2.5 BHK & 3 BHK Flats in Sunway - Megapolis Smart Homes 2, Sangria Towers in Megapolis and, please, suggest what should i do...

1) Sunway - Megapolis Smart Homes 2 -
Non Garden Facing 2.5 BHK Flat on the First or 14th Floor -
964 sq.ft. Carpet Area - 1,205 sq.ft. Saleable Area - All Inclusive Property Prices:


1) 457 Days Ago:
Rs. 33,50,227 for the 1st Floor and
Rs. 38,96,293 for the 14th Floor

2) 280 Days Ago:
Rs. 39,86,766 for the 1st Floor and
Rs. 42,59,899 for the 14th Floor

3) 185 Days Ago:
Rs. 42,41,282 for the 1st Floor and
Rs. 44,95,697 for the 14th Floor

4) Today:
Rs. 46,22,905 for the 1st or 14th Floor

Sangria - Megapolis Smart Homes 2 - 2.5 BHK Flat - 964 sq.ft. Carpet - 1205 sq.ft. Saleable - for Rs. 46,22,905 All Inclusive Property Price
Sunway - Megapolis Smart Homes 2 - 2.5 BHK Flat - 964 sq.ft. Carpet - 1205 sq.ft. Saleable - for Rs. 46,22,905 All Inclusive Property Price

2) Sangria Towers Megapolis Hinjewadi Phase 3 -
Hill View 2 BHK Flat on 17th to 19th Floor -
894 sq.ft. Carpet Area - 1,118 sq.ft. Saleable Area -
All Inclusive Property Prices:


1) 400 Days Ago:
Rs. 44.32 to 44.95 Lakhs

2) 185 Days Ago:
Rs. 48.78 to 49.37 Lakhs

3) Today:
Rs. 52.32 to 52.91 Lakhs

Sangria Towers Megapolis 2 BHK Flat 894 sq.ft. Carpet - 1,118 sq.ft. Saleable - D, F Towers (Type 2) - Living/Dining 19X14
Sangria Towers Megapolis 2 BHK Flat 894 sq.ft. Carpet - 1,118 sq.ft. Saleable - F Towers (Type 2)


3) Sangria Towers Megapolis Hinjewadi Phase 3 -
Hill View 2 BHK Flat on 17th to 19th Floor -
899 sq.ft. Carpet Area - 1,124 sq.ft. Saleable Area -
All Inclusive Property Prices:


1) 400 Days Ago:
Rs. 44.53 to 45.17 Lakhs

2) 185 Days Ago:
Rs. 49.02 to 49.61 Lakhs

3) Today:
Rs. 52.58 to 53.17 Lakhs

Sangria Towers Megapolis 2 BHK Flat 899 sq.ft. Carpet - 1,124 sq.ft. Saleable - A, B, H, I Towers (Type 3) - C, E, G Towers (Type 4) - Living/Dining 19X14
Sangria Towers Megapolis - 2 BHK Flat 899 sq.ft. Carpet - 1,124 sq.ft. Saleable - H Tower (Type 3) - G Tower (Type 4)


4) Sangria Towers Megapolis Hinjewadi Phase 3 -
Hill View 2.5 BHK Flat on 17th to 21st Floor in G & H Towers -
1,044 sq.ft. Carpet Area - 1,305 sq.ft. Saleable Area -
All Inclusive Property Prices:


1) 400 Days Ago:
Rs. 51.18 to 52.66 Lakhs

2) 185 Days Ago:
Rs. 56.38 to 57.76 Lakhs

3) Today:
Rs. 61.21 to 62.59 Lakhs

2.5 BHK Flat - 9' 8" X 8' Kitchen & 19' 2" X 15' Living/Dining <br>1,044 sq.ft. Carpet - 1,305 sq.ft. Saleable <br> in A, B, H, I Towers (Type 3) in Sangria Towers Megapolis Hinjewadi Phase 3
2.5 BHK Flat - 1,044 sq.ft. Carpet - 1,305 sq.ft. Saleable
in H, I Towers (Type 3) in Sangria Towers Megapolis Hinjewadi Phase 3


5) Sangria Towers Megapolis Hinjewadi Phase 3 -
Hill View 3 BHK Flat on 17th to 21st Floor in G Tower -
1,206 sq.ft. Carpet Area - 1,485 sq.ft. Saleable Area -
All Inclusive Property Prices:


1) 400 Days Ago:
Rs. 58.57 to 60.25 Lakhs

2) 185 Days Ago:
Rs. 64.50 to 65.67 Lakhs

3) Today:
Rs. 69.20 to 70.77 Lakhs

3 BHK Flat - 1,206 sq.ft. Carpet - 1,495 sq.ft. Saleable<br> in C,E,G Towers (Type 4) in Sangria Toowers Megapolis Hinjewadi Phase 3  <br>Living/Dining 20'X15'6" & Bed Room 14'X11'
3 BHK Flat - 1,206 sq.ft. Carpet - 1,495 sq.ft. Saleable in G Towers (Type 4) in Sangria Towers Megapolis Hinjewadi Phase 3


6) For Bookings Contact - Megapolis, Hinjewadi - Rajiv Gandhi Infotech Park, Phase 3, Pune 411 057:


Team Megapolis:Sitting - Mr Chetan, Mr Hemant Kulkarni (GM), Mr Deepak Standing - Mr Suryakant, Mr Nishikant, Mr Pramod Fand, Mr Amit, Ms Kiran, Mr Hande, Ms Meenakshi, Mr Ginder, Ms Supreet, Mr Ved, Mr Rakesh, Mr Shailesh, Mr Datta
Team Megapolis:Sitting - Mr Chetan, Mr Hemant Kulkarni (GM), Mr Deepak Standing - Mr Suryakant, Mr Nishikant, Mr Pramod Fand, Mr Amit, Ms Kiran, Mr Hande, Ms Meenakshi, Mr Ginder, Ms Supreet, Mr Ved, Mr Rakesh, Mr Shailesh, Mr Datta

Megapolis Office: 020 3234 8180 / 8181 or

Pramod Fund 91 90110 09230

Deepak Choudhari 91 90110 09234

Chetan Shirude 91 90110 09228

Ginder Thakur 91 90110 09232

write:

smarthomes@megapolis.co.in

sales@megapolis.co.in


Related Stories:


1) MONDAY, MAY 2, 2011

Property Prices of Sunway - Megapolis Smart Homes 2:
2 BHK & 2.5 BHK Flats at Hinjewadi Phase 3, Pune 411 057

2) TUESDAY, MAY 31, 2011

Sexy Sangria Towers, Megapolis, Hinjewadi Phase 3, Pune

3) WEDNESDAY, JUNE 1, 2011

Sexy Sangria Towers, Megapolis, Hinjewadi Phase 3, Pune - Photo Visit

4) THURSDAY, NOVEMBER 3, 2011

Ravi Karandeekar's Most Popular Pune Real Estate Market News Blogs in October 2011

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22 comments:

  1. From 400 days ago my salary has not increased by even 10%, but real estate prices grows by minutes I guess and I wonder what/which/why/when/how they do this. I have to prepare 10 pages of document on how did I perform well last year just to get single digit hike :). But that being said I have no doubt all flats will be booked soon.I've always wonder who is buying these flats.

    ReplyDelete
  2. thats gr8 ..news ...amazing as well...

    in hinjewadi phase three...property prices are increasing with leaps and bounds ...even these prices are beating inflation rate.....

    thats really good news for the already inflation-hit common man.....

    ravi , you should not have any internal conflict .. pune people are so reach that they should start spending money now on higher floor before prices cross 60 L mark....And more over petrol prices are approaching 100 Rs mark ...so they should purchase property before petrol reaches 100....

    So you internal conflict is solved now .. !!

    ReplyDelete
  3. Ravi..is this hike in sync with other pune areas?

    ReplyDelete
  4. I live abroad and have booked a flat there, after a lot of consideration and thought as the price was always out of my reach.

    Now the proposal is to move to 'vertified tiles' so they can save costs.. what a shame.

    Not sure, if they can finish and when will they complete all ammenities.

    Ravi: We need more than this from you - as you are our eyes. Will this finish, if so when? Should we opt out now, if there is a option or continue to live in fear...

    ReplyDelete
  5. Why is Megapolis not listed as a Township in PMC website? What are the reasons for not getting a township status?

    ReplyDelete
  6. Ravi as you said earlier in first blog about Megapolis, Megapolis has got very good appreciation in last few days. Vx1, we have also received mail regarding vitrified tiles. I don’t think it is because of cost saving. Still you can go ahead & use wooden floor. They have asked for the suggestion. I checked on few real estate sites & they have also suggested to go for vitrified tiles instead of wooden flooring.

    ReplyDelete
  7. I gave a very quick visit to this project and I didn't invest because of two reasons
    1. It's not freehold
    2. Smart homes are a proper segregation of poor man's dream. So easy to be looked down by the posh homes next to it from towers.

    I don't want to invest in segregated division as I face problems with society where 3 bhk on left side of road people look down at 2 bhk on right side even though they have to share amenities.

    ReplyDelete
  8. Thanks for making such a cool post which is really very well written.

    ReplyDelete
  9. Hi Ravi,

    Thanks for sharing this great info.
    After considering this infoamtion, I have taken 2.5 BHK flat at smart Homes II.
    I have already paid prebooking amount(652050), service tax(16790) and VAT 1%(43470).

    But due to sudden financial difficulties, I have to cancel this booking.
    So will there be any penalty for such cancellation?

    ReplyDelete
  10. Hi Dhaval,
    May I know, what rate you had booked the flat?
    on which floor?
    I am interested if you want to transfer the booking.

    Hi Ravi,
    Is it possible to transfer a booking to another person on same booking rate.

    ReplyDelete
  11. Megapolis Sangria rates are increased from 31 dec 2011. Current rate is 4000 per sq ft
    Dear Ravi Please share your comments on your favrouite project

    ReplyDelete
  12. There is nothing special about buying a flat in Megapolis, if you are a first time buyer!
    Believe me, because I have bought a 2 BHK exactly 2 years ago, with all my hard earned money. And it hurts big time, as it’s still a flat and not HOME.
    All the promises by builder have gone for a toss. It’s almost delayed by a year. Still no sign of amenities. Not in a livable condition. Every possible thing has gone wrong.
    But still I do not have any option but to move into the same flat very soon. As I am paying considerable amount of rent, on top of the EMI.
    So essentially it’s a BIG compromise!
    I am not sure how much time we need to wait till my flat becomes our HOME. But I am pretty sure it’s going to be a very LONG time.

    So in my opinion, if you want to buy a HOME, then please don’t go for Megapolis!
    On the other hand, if you want to buy a flat and make money, then you are welcome to be Ravi’s guest! As Ravi has put a lot of efforts in pointing out only one aspect of property, price appreciation! And you will be happy as you need not live in it or even think of living in it.

    So just a suggestion Ravi, rather than only stating the price appreciation part, you should also collect all the facts before you review any property, let alone Megapolis.

    Hope to see some meaningful reviews from here onwards!

    ReplyDelete
  13. Replies
    1. Dear Mayank, I am not the right person to ask these questions.
      1) I wish property prices should remain affordable for all educated & employed young Punekars.
      2) To know more about upcoming project, please, visit: Ravi Karandeekar's Pune Real Estate Market News Blog:
      A Home in Hinjewadi Phase 2 & 3
      3) I live on Paud Road in Kothrud. Here average property rate is Rs. 7,000 per sq.ft. There isn't any shopping mall & multiplex on Paud Road.
      4) I think you need to understand the basic concepts these projects.

      Delete
    2. This comment has been removed by the author.

      Delete
    3. Dear Mayank, since you are booking a flat and mall & multiplex is so important for you, - why don't you ask the builder before booking and share info with us?

      Delete
  14. Hi,

    I am planning to buy a flat in Sangrai. But just found out that the land is leased by Kumar builders for 95 years.
    Will there be problem/issue in future when I sell this flat.
    Please let me know.

    ReplyDelete
  15. Hi Ravi,

    Looks like there is some delay in possession dates for Smart homes - 2.
    Do you know how much it would be delayed?
    Looking at this, I feel all builders are same and we as a customer will always be treated like this.

    Thanks and Regards,
    Ganesh

    ReplyDelete
    Replies
    1. Call for the meeting of all who have booked and demand compensation for the delay, Ganesh.

      Delete
  16. Read this:

    Hi,
    I booked a flat in SmartHomes, Sparklet A4, Megapolis.

    First of all they never informed in letters that they sent for payments to be made slabwise about the late payment fees that are applicable. Then later when the possession time was near, that is after 2 yrs they mentioned late payment charge around 40k which I negotiated and paid 28k.

    Later, after I got possession from last 6 months i have been complaining about so many things that is not done propoerly. The best answer they give is to repaint which is not the solution.

    1. In kitchen the slab fell over when they were grilling a hole in the neighbouring flat. Thankfully, i was saved.
    2. Bathroom flooring was not proper. Water used to come in flat instead of going in the drainage. I got that repaired but then it was not done properly. I had to get them put a slab to prevent water coming out.
    3. There was a leakage in kitchen ceiling and common bathroom which i doubt they repaired. They just painted.
    4. There are more than 6 colour shades tiles in master bathroom.
    5. Doors have been getting inflated and got them cut 3 times in 6 months.
    6. There were iron rods coming out from the walls which I got cut.
    7. Finishing is extremly poor in the whole flat.
    8. Now, there is leakaege coming to the walls of master bedroom from bathroom and all paint etc is coming out.
    9. If you put curtains, the holder comes out as the walls are hollow from within.
    10. Kitchen sink does not drain water properly.
    11. All pipes etc are leaking from period to period.
    12. Walls are ceilings are uneven.

    Overall, there is extremely bad quality of work and no audit done in this buildings. I wonder how can such a big builder not have audits and pass on flats in haphazard manner. I feel i have wasted my hard earned money by investing in thhis builder - Pegasus :(

    Can I get justice?
    Megapolis Complaints. Extremely bad quality of construction, Builders, Pune,Consumer Complaints Company Complaint India

    ReplyDelete