Wednesday, January 20, 2016

Pune real estate market research report, trends & forecast 2016

Leading Builders & Property Buyers in Pune Present Real Authentic Report:


Property Buyers Present Real Authentic Pune Real Estate Market Report at Pune Home Buying Festival 2016

Pune Home Buying Festival 2016 - organized by CREDAI Pune Metro & Property Buyers Awareness Program organized by Akhil Bharatiya Grahak Panchayat was nothing but the live presentation of Pune real estate market research report of 2015 and forecast for 2016.

This report covers more than the usual topics -
1) When will Pune real estate bubble burst?
2) Number of unsold flats in Pune
3) Will Pune market slow down or pick up?
4) Will the property prices in Pune go up or down?
5) Effects of changes in home loan interest rates
6) The investment destinations in Pune etc.

This report focuses on:
1) Possession of flats - not on number of bookings.
2) Completion of projects - not on launching of new projects.
3) "Other Charges" - "Infrastructure Charges" - "Maintenance Charges" - not on the property rates.
4) Actual worth of the property - not on the property price.

- Why? Because, this report is not prepared by some foreign owned real estate consultant or media house.

Those who visited the festival have already received & discussed this report.
Here is the summary for those who didn't or couldn't visit:

A) A huge number of property buyers in Pune have not received possession of their flats and they do not know whether they will ever receive possession or not. Because -


A huge number of property buyers in Pune have not received possession of their flats

1) The builder has become bankrupt & has abandoned the project.

2) The builder is facing financial crunch & construction is stalled.

3) The builder has not received necessary clearances - sanctions & construction has slowed down.

4) The builder has committed the crime of violation of environmental clearance & has received stop work order.

5) The builder has not received enough number of bookings & the construction of the project has not begun.

6) The joint venture partners - the promoters of the project - have split or have some disagreements & issues - and the project is stalled.

Their message for new flat buyers in 2016 is -

1) Every builder is not eligible to book at the launch or at under construction stage of project.

2) Anyone can launch a housing project but very few are capable of completing it.

B) Most of the flat buyers in Pune who have received possession of their flats are unsatisfied & disappointed. Their reasons are -


Swimming Pool in Vilas Javdekar Developers' Palladio at Tathawade

1) They have lost huge amounts of money because of the delayed possessions.

2) Even after paying the entire property price, they are forced to occupy their homes illegally because their builder has not obtained completion & occupancy certificate.

3) They are suffering due to insufficient or lack of basic facilities like road, water, drainage, power, garbage, safety & security, etc.

4) They have not become the true owners of their homes because their builder has not formed a co-operative housing society & hasn't done conveyance.

5) They are feeling that their builder has looted their maintenance fund - misappropriation of maintenance charges collected from the flat buyers at the time of possession.

6) They are complaining about quality of construction - mainly leakage & seepage in ceiling & walls, poor quality & poor fitting of floor tiles, internal walls without plaster.

7) They are suffering because of the poor planning & allocation of car park.

8) They are disappointed because of the incomplete, insufficient & less than promised amenities.

Their message for new flat buyers in 2016 is -

1) Avoid booking a flat in the fringe villages of Pune which come under PMRDA.

2) Big builder, big brand, does not mean good quality & good service.

3) Form a flat buyers group & monitor the progress of construction on a weekly basis.

Take these precautions while booking a flat in 2016:


Take these precautions while booking a flat in 2016

Those who have received possession of their flats & those who haven't - appealed to new flat buyers in Pune to avoid the mistakes they have made. To avoid becoming a victim of a builder - like them - their suggestions are:

1) Obtain loan sanction letter from the bank before you start searching a flat.

2) Consider the repayment of loan - not only your eligibility to get the home loan.

3) Book a flat on the basis of per sq. meter carpet area - prevent a builder from committing a crime against State Government of Maharashtra & Central Government of India by selling a flat on the basis of per sq. ft. saleable area.

4) Do not make a decision based on the property ad, sales brochure & sales talk of the salesperson - do title search of the plot of land, check the environmental clearance, sanctions & approvals, study the terms of transactions in the agreement.

5) Book a flat only if the builder is ready to appoint third party construction quality auditor & is ready to share reports at every stage of the construction - till possession.

6) Book a flat only if the builder offers 5 years warranty & guarantee for your flat.

7) Book a flat only if - in case of delayed possession - the builder is ready to pay rent, pre emi & compensation for mental agony, social insult & loss of income tax benefit etc.

8) Give more importance to the current financial status & the debt of the builder than - the number of under construction projects, the history - the track record - & future plans of the builder.

9) Know the actual charges required for electricity, society formation & firmly refuse to pay exorbitant charges.

10) Refuse to pay infrastructure charges - means, charges for the car park - because a builder can not sell a car park - covered or open.

11) Refuse to pay floor rise & the premium for the garden facing flats.

12) Put pressure on the builder & bank to relate the disbursement of loan installment from first slab to conveyance deed.

13) Take possession of your flat only after it receives completion & occupancy certificate from PMC, PCMC & PMRDA.

14) Till PMC, PCMC & Gram Panchayat starts supplying water - it's builder's responsibility to supply free water.

15) After the possession, insist on appointing professional agency for the maintenance of the society and monitor the accounts of maintenance fund.

Builders in Pune Present their Real Authentic Report & Predictions for 2016:


Zero Percent - 0% - Down Payment Offer by Kolte-Patil
Zero Percent - 0% - Down Payment Offer by Paranjape Schemes

Individual builder & CREDAI Pune Metro avoided to come on the same page with Pune property buyers. CREDAI took help of Pune police and pushed the property buyers out of the venue of Pune Home Buying Festival 2016. However, their stalls presented the true status of their business & what are their plans for 2016.

Zero Percent - 0% - Down Payment Offer by Paranjape Schemes Construction Ltd. & Kolte-Patil Developers Ltd. - two biggest & most respected builders in Pune real estate market - told every visitor that the offer is not really about the down payment at the time of booking a flat.

Zero Percent - 0% - Down Payment Offer is a warning about drowning.
It's a call for help.

On behalf of the entire builder fraternity in Pune,
these two leading builders were crying for help - "Please, save us from drowning!"
Period.

Where to book a flat in 2016?


Now, it's your call.

Even if a pirate is ready to become a businessman - would you take a risk of boarding his sinking ship?

Certainly, not! Right?

What say you? Please, share your views in the comments.

Related Story:


1) Warning for CREDAI Pune Home Buying Festival Visitors

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market.

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225 comments:

  1. I think this is a real eye opener blog by you Ravi of current situation of Pune's Real Estate (shall we call it Reel Estate??). It seems the developers from Pune are really in big scoop due to their exuberant expectations from the buyers. The reel estate rates in Pune are of first class standard but the quality of their service, work ethics and the end product is of third class. This applies to a reputed builders to Guntha Mantri Builder.
    This reminds me of a joke. Lord Indra thinks of building a bridge between Heaven and Hell. He passes the proposals and gives the equal responsibilities to the representatives from Heaven and Hell. After the defined timelines Lord Indra visits the site to progress of the bridge and to his surprise half of the bridge from Hell's side is completed fully but the another half of the bridge from Heavens side had a zero progress, he asks the reason for this and the answer he hears was 'All the builders are in Hell and not single one of them is in Heaven to build the bridge from Heaven side'
    At the end I would say if buyers read this block he can make the wise decision of buying or not buying a house in Pune in 2016.

    ReplyDelete
    Replies
    1. "From a reputed builders to Guntha Mantri Builder" - well said, Sandip!

      Delete
    2. I am a victim of Gunthamantri Builder in Fursungi, lift is not working, no pottable water, no parking, nothing, we are planning to go with Consumer Court

      Delete
    3. Deva you can go to any court as this kind of act by a builder is an infringement of your fundamental rights depriving you of basic needs for your life.

      Delete
    4. So sorry, Deva Raje Jadhav! Glad to know that you are filing a case in consumer court.

      Delete
  2. Nanded City is exception to above.
    Timely and committed delivery with what has promised.
    Its indeed a smart city.

    ReplyDelete
    Replies
    1. ohh really !!! Allas !!! What about the EC. Leave EC what about the NDA flying zone. There is no approval for apartments more than 4 floors in circle of 4km from NDA. I read news in local news paper mentioning "NDAs appeal has no base" in local third class language. Its about the security of the NDA and nation. Every developer in big cities need to have approval from airport authority/any military flying zone. NDA should take action against this. Lawless regime. No rule nothing.

      Delete
    2. Enigma,
      Who in earlier Govt cared about country, it's soldiers & it's citizens ? Nanded City sanction was given by pro-builder CONgress & allies when they were in power at state Govt (irrigation-water benefit by giving direct line from khadakvasla even if Pune is dry) as well as central Govt (Defense ministry remained mute). See this picture from Ravi's blog -

      http://farm7.static.flickr.com/6228/6322112685_567c219f87_z.jpg

      You will see who all inaugurated Nanded City & who are the culprits.
      In my post below of youtube video, again you will find these were the same suspects who cost damages to taxpayers money as PMC's total cost for first making & then removing the road is around 20 Crores, which got wasted due to builders & corrupt politicians. Imagine good things which are possible with these 20 Crores & this is not even tip of ice-berg.
      Now will politicians & builders pay us back our 20 Crores ?
      Pune metro is another upcoming scam, with PMC recommending very high FSI near metro route to benefit builders.
      These builders are no more than modern day dacoits.

      Delete
    3. Nanded city is not yet develpoed ... compelty.. struggling still to find buyers

      Delete
    4. 1) Yes, NOC of Aviation Department is essential!

      2) "modern day dacoits" - True!

      Delete
  3. Ravi, Is there any good builder as per your opinion in pune.It's easy to crticize..but as a consultant you need to suggest alternatives

    ReplyDelete
    Replies
    1. Real estate runs on property buyers' money. When the number of good property buyers will increase the builders will not have any option but to become a good one.

      Delete
    2. This is not going to happen. People buy house because it is a necessity. It is not like buying shares or bonds.

      Delete
    3. House is a need. Buying a house is "luxury", Sumit!

      Delete
    4. Well said Ravi. The day people will understand this, quality of home will automatically will go up.

      Delete
  4. Very good blog Ravi, nicely summed up.

    "Zero Percent - 0% - Down Payment Offer is a warning about drowning.
    It's a call for help.

    On behalf of the entire builder fraternity in Pune,
    these two leading builders were crying for help - "Please, save us from drowning!"

    - And the buyers shouldn't help them at all. They have looted buyers left, right & centre with zero customer importance post purchase. Pune builders treat buyers like king before buying after which they behave as if they are doing some favour by giving buyers their flat.
    This 0% offers is just the start of large scale bankruptcy of Pune builders.

    Slowdown hits Pune real estate, unsold inventory up 56%

    http://www.business-standard.com/article/companies/slowdown-hits-pune-real-estate-unsold-inventory-up-56-116012000872_1.html

    Builders though will keep saying prices won't be reduced. New logic is prices will increase due to real estate regulator, LoL.
    And if you add investors flat to unsold flats from builder, the number is very big. Going forward, there will be large scale discounts not just from builders but even from investors.

    This is what I am going to do for buying flat -

    1. Buy ready possession flat with all approvals & good infrastructure,
    2. Buy only after prices fall by atleast 50%,
    3. Till the time above 2 things happen, continue to stay on rent at very cheap cost compared to buying.

    @ sandip,

    Bridge. LoL.
    And even this bridge will look something like KUL Ecoluch bridge, oh not bridge, sea link. Lol.

    ReplyDelete
  5. I just loved the below point:

    Most of the flat buyers in Pune who have received possession of their flats are unsatisfied & disappointed.

    I can see only satisfied buyers who bought the flat 5 years before. After 2010 anyone who bought the flat in pune is not happy with builder. Reasons can be different. But builders have lost their moral and due to that business has lost its sheen.

    ReplyDelete
    Replies
    1. Well said, Ultimate_Human! slowdown is because of the dissatisfaction, disappointment, loss of trust in Pune builders.

      Delete
  6. The arrogant and ignorant attitude of builders is because of ineffective laws against builders and lack of knowledge among the property buyers

    Hopefully people start reading ravi's blogs and act rather than ignoring

    ReplyDelete
  7. For a long time we are blaming builders. Just wanted to bring your attention towards government dealing of RE. I don't see any action by feku gov for last 1 and half year on affordable housing nor real estate regulator bill is been passed. Local gov was the way to increase the RR rates which is just postponed to 1st april. Don't the public should protest angst GOV OF INDIA and STATE? one more anna like agitation needed.

    ReplyDelete
    Replies
    1. Please understand that for bill to pass through, it has to be cleared not just by Lok Sabha where BJP has majority but also Rajya Sabha where CONgress has majority. It will be somewhere in 2017 that BJP will get majority in Rajya Sabha. And not just real estate regulator even major bill like GST is stuck due to CONgress & we know the links of CONgress & it's allies with builders very well.

      Having said that, there are reports that CONgress is under pressure & hence it will support the RE regulator bill in pre-budget session of Parliament, which means we are just about 2 months away from seeing this regulator.

      Delete
    2. @ Enigma - Understand the point dude. Dont start a stupid political war here. you cant blame everything on government. may it be congress or BJP or AAP, bad people are going to be everywhere. We as a society needs to be awaken so that we are aware of these leeches (builders) sucking our blood (money). This blog is doing exactly the same thing. Share as much as possible.

      Delete
    3. Yes, citizens must protest against Maharashtra Government's decisions, Enigma.

      I agree with you Unknown. Awaken & united citizens is the only way to win.

      Delete
    4. ohh unknown...thanks for making me understand. Superb brilliant man.
      Monk..policy decisions are taken at the top and it flows from top to bottom...if bottom is strong united and put pressure then things turn in their favor else I don't need to explain. Very good example is of Oil you can see how taxes are increased day after day. In addition I hope I don't need to explain about the central banking.

      Delete
  8. Time is not far when street smart Developers will wait for customers and Customers will ask fist the authenticated copy of ALL THE SANCTIONS & PERMISSIONS. The callous attitude of developers will go against to them particularly for delayed possession and hidden charges.

    ReplyDelete
  9. Latest video which shows how Pune builders & corrupt politicians fool buyers in buying flats in projects in river-bed. This video talks about Vithalwadi-Warje road which was cancelled by Supreme Court. Builders like Mittal group (www.mittalbuilders.com) made fool of these buyers & the buyers have flat without road.
    This is an eye opener video -

    https://www.youtube.com/watch?v=EzLCUrp9UXM

    ReplyDelete
    Replies
    1. Really, Thanks for the video. Its an eye opener !! From the video it seems lots of water drained away but still pune people don't aware about it and still getting trapped at such locations. The example is Ambegaon area adjacent to Katraj area.

      Delete
  10. Thanks for great article. Ravi Ji, We are not sure why you are not publishing about kohinoor builder

    ReplyDelete
    Replies
    1. Are you talking about Kohinoor Shangrila at Pimpri, Raja Ram?

      Delete
  11. Nice share. This is how tax payer money is being used in India to beneft builders. There is no action against the builders, politician and buerocrate cartel behind this scam.Its shame.

    ReplyDelete
  12. This blog is a great source of information. We sincerely salute to Mr. Ravi Karandikar for his great advice given to us in 2010. He advised me to go for reputed builders who have the infrastructural capacity. Most projects promise swimming pool, elevator, nice club, gardens, fountains, etc. However, only elevators work somehow because it has to be kept working. Rest do not work or function after first season. Societies are not formed in most cases.
    Per his advise we chose Nanded City going for township and infrastructural capacity builders buying our 3 flats in various towers. Thank you Ravi for your honest advice.

    ReplyDelete
  13. Thank you so much Ravi for the valuable information.

    ReplyDelete
  14. Replies
    1. Your soon have anytimline .. I am frustrated with the builders asking any money, bugger's charge 100% on terrace plus loading !! Charges that are mention on property website as per area are actually on carpet and builders are taking those figures and charging @ salable
      This bubble need busrt and burst soon !

      Delete
  15. We have seen the 2008 collapse in US partly because of no down payment scheme. People bought houses left and right and stopped paying mortgage giving away the houses. No one lost the down payment they never had paid.

    With reputed builders from Pune going for 0% down payment, it is a sure shot solution for a free fall. People will go for apartments above their reach and with one small market downturn, will default.

    Thanks for sharing this Ravi. I don't mind the high real estate cost in any city as long as it is supported by the infra and amenities nearby. Pune is selling crap now.

    I hope the so called educated IT folks in people in Pune could differentiate between buying a flat vs buying vegetables.

    ReplyDelete
    Replies
    1. But US market is different , they loose jobs and Dont mind selling house .. We have different mentality here in India, ek sapna ek Ghar type.

      Delete
  16. I will stop buying property for some time. Whatever they are promising, don't buy for some time they will come down and start selling at correct price and will start making affordable homes than so called luxurious multi corore apartments.
    House is human need and it should be affordable to every one.

    ReplyDelete
  17. Ravi sir can you please tell us about construction quality, progress and development of the area near by of Life Montage by Pate Developers and Sanjay Ghodawat in Sus area. Your opinion would be of great help.

    Thanks.

    ReplyDelete
    Replies
    1. Wikimapia, google maps have been updated a while back. Use them to check development (LoL) of the project & area.

      Delete
    2. Aniket, please, visit - Struggling for Survival at Sus http://goo.gl/yvc95r

      Delete
  18. All the points noted and agreed but with my limited understanding of markets unable to find builders will satisfy all the points. Please help with the list of recommended builders & projects. Its like m thirsty at small station and you will not Aquafina or Bisleri you have to buy what is available !!

    ReplyDelete
    Replies
    1. "Please help with the list of recommended builders & projects."

      - Any ready possession flat with all approvals (lawyer verified) in area of your choice should be shortlisted. If you are happy with the layout, construction quality (as per civil engineer & architect), go ahead & buy. Being ready you are also aware of the infrastructure inside & outside project. Doing this will cut your chances of getting fooled by builder by atleast 90-95%.

      " Its like m thirsty at small station and you will not Aquafina or Bisleri you have to buy what is available !! "

      - Better remain thirsty for some more time than suffer from kidney stone & jaundice (read don't buy in third class project). Simple solution is to buy coconut water or Amul milk based soft drinks (read stay on rent) & then once you reach your destination, get yourself a good filter so that you are not dependent even on Bisleri (read buy ready possession flat with approvals in good location).

      Delete
    2. Well explained TheMonk and it is a great advice. At first glance one may feel that the ready possession flat is costly but comparing it with getting stuck in an under-construction project and then wait endlessly and suffer, it's still a better and reasonable option. As, what you see is what you get and pay for, period.

      Delete
  19. Possibly buying resale flat in good established society is an option.

    ReplyDelete
  20. Ravi, thanks for the blog! You have verbalised all the concerns I had in mind.

    One question though-
    Despite the allegations on Nanded City (water source, permissions, etc), you seem to be very positive about it. What is the reason?

    ReplyDelete
    Replies
    1. For only 1 reason. Nanded City Pune has a business model. Other townships don't have a revenue generation engine.

      Delete
    2. business model? of what....looting :) :) people even not understanding how are they looted

      Delete
    3. Long time back I watched one Marathi movie which I never watch. A son of gujju businessman approaches his businessman bap with business proposal. Proposal was of marriage burro. Gujju bap says hey you gadheda, create such a model where we can earn after marriage as well. This is like after sales service. Though couple gets married make them to approach you after marriage as well for continuing their marriage this way you will be in business for lifeeeee timeeee.
      Same model is here pay for everything...only what you buy is falat of bla bla sqft. Nothing else belongs to u. U will be charged for everything else.
      Ravi.. what u say.

      Delete
    4. ".only what you buy is falat of bla bla sqft. Nothing else belongs to u. " Do you really own a flat, Enigma? I don't think so. You don't own walls, ceiling & flooring - you only own an inside space! Please, visit this blog - Are you an "Owner" or the "Kirayedar - भाडेकरू" of Special Township? - See more at: http://ravikarandeekarsblog.blogspot.in/2013/03/Xrbia-Blue-Ridge-Life-Republic-KUL-Ecoloch-Amanora-Nanded-City-Pune-India-2.html#sthash.AfxKoLCk.dpuf

      Delete
    5. Dear Enigma, to survive a township must have a revenue generating engine. Every town, state & country has it. For example, property tax & octroi (LBT) is the source of income of a municipal corporation. Lease rental of Cyber City earns revenue for Magarpatta. I am talking about this. Not about the paid services.

      Delete
    6. Ravi r u suggesting corporation within corporation or parallel corporation...then it's a big scam...what will corporation do..will it lead to double taxation eventually...

      Delete
  21. The protest done by flat buyers & consumer right groups at NON-CREDIBLE CREDAI exhibition was covered in Indian Express on Sunday, 24th Jan. Check the link below -

    http://d2na0fb6srbte6.cloudfront.net/read/imageapi/clipimage/701696/67803c92-6f5d-4f5b-8028-b78be1217d08

    Any idea if it was covered by builders mouth-pieces like Times of India, Sakal etc. ?

    ReplyDelete
  22. This was the article I'm searching for. Tons thanks. I'll circulate this in my circle.

    ReplyDelete
  23. Ravi
    At Beryl kharadi, Kolte Patil already cheated 98 families and the next lot of 99 are being cheated. Nothing in order. Only promises. No delivery. Not t all professional. They don't even respond to communications. We request the buyers NOT TO BOOK FLAT AT koltepatil as we are suffering for the last 2 years.

    ReplyDelete
    Replies
    1. Yes, I have been at Beryl. So sorry. Thanks for the 'request'!

      Delete
  24. Hi Ravi Thanks for sharing vital information; Request you to share information on buying Open Land/Plot as well.That would be of great help.

    ReplyDelete
  25. I was just about to book a ready possession flat in Vrindavan Heights by Kwality developers in Hadapsar. As per the builder this property comes under PMRDA and there's no way for me to find if this property really comes under PMRDA. After reading this, I am a bit sceptical about booking. Could you please tell why to not buy properties under PMRDA?

    ReplyDelete
    Replies
    1. Ninad, please, visit this blog - Struggling for Survival at Sus http://goo.gl/yvc95r

      Delete
    2. Thank you sir!
      I think soon a common man like me would've to leave their beloved city because they can't afford to stay here anymore. Pity.

      Delete
  26. Anyone with a land has became a builder nowadays. Most of the builders are illetrate and goons roaming on their fortuners. State government should take very strict actions against these pirates. This is one of the major reason I hate pune.

    ReplyDelete
    Replies
    1. How? That goon once had nothing to eat and all of sudden he gets tons of money
      Its quite natural he will loose his senses and will show the power of money
      Everything has a correlation with supply and demand, educational institutions looking for good environment came to pune tagged along companies looking for good resources
      Now when these resources need a shelter created huge demand,this huge demand created suppliers called builders and they charged as per the demand paying exorbitant money against waste land which was once a liability to poor landowner, who has now tasted the power of money and started following what every one was following ... Supply, brainless supply, filthy supply and when money is involved, moral goes down the drain.
      As ravi correctly stated that these prices will go down but in my.honest opinion its doesn't look very soon to me.
      E&eo.

      Delete
  27. Why don't you publish the scheme name which is fitting into this criteria of providing all these papers to the customers?

    ReplyDelete
  28. We got cheated from Casa Imperia Wakad http://casaimperia.in/. Om sankruti Builder.
    Amenities said during flat booking was not given. possestion was delyed by a year. car parking issues. Not given parking as said during booking
    Never evre dare to buy a flat here

    ReplyDelete
  29. Thank you for such wonderful Article Ravi. I am planing to buy a plot not flat in manjari(bk) and would like to inquire about the same. Would be great if you can spare little time for discussion. I sent you a skype request. let me know the best time to give you a call. Regards,Rohit.

    ReplyDelete
  30. Hi Ravi,

    Very comprehensive information you have given over there.
    What do you think about Sukhwani Gracia scheme in Sus (http://www.sukhwanigracia.com). Also Sukhwani builder in general.

    Let me know. Thanks.

    ReplyDelete
    Replies
    1. Girish, to know about Sukhwani, please, visit - https://ec.maharashtra.gov.in/

      Delete
  31. Builders can come out of such situations IF, they are ready to reduce prices, how a common man who can take loan around 3 to 40 L can afford a flat at such a high price?, builders are behind making money and people have just shown the truth by stop buying over priced properties.

    ReplyDelete
  32. Rent and EMI should be equal then only its wise decision to buy flat. Currently EMI is 70K and Rent is 12-14K. There is no meaning to invest your 70-75 Lakhs as you can live a lavish life in mere rent. People bought 70-80 Lakh flat in Meghapolis, they are suffering to get rent even 12K. Things were different in 2008. Sq ft rate was 2300-2800 and quality of property was very good and build up ratio was 25% and terrace considered half for carpet ratio. Please be wise and don't go with old example that somebody bought flat for 10L and Now its 1 crore. Its not going to happen in your case.

    ReplyDelete
  33. I AM AGREE WITH YOUR VIEWS, ALSO KNOWS THAT THE CONTRACTORS AND LABOURS ARE NOT GETTING THEIR PAYMENTS FROM BUILDERS.

    ReplyDelete
    Replies
    1. Yes, you are right - this is not the only case - Is Flat Buyers Direct Intervention The Only Solution for Marvel Realtors Problems? - http://goo.gl/iuJPCO

      Delete
  34. Hi ravi Thanks for the article. Can you please suggest about little hearts by smp in undri pisoli

    ReplyDelete
  35. Thanks Ravi for detailed insights on buying a flat in pune. Victims are many, reasons are different. But Is there a way to fight (legally) against the injustice by builder. If the occupiers wants to make a formal complaint then whom to approach? Any advice, TIT FOR TAT....

    Thanks

    ReplyDelete
    Replies
    1. Yes, lot of platforms available if buyers can show some spine to fight for their rights. Contact them & they will help you.

      http://www.grahakpanchayat.com/

      http://grahakhitvardhini.org/

      https://www.facebook.com/sajagnagrikmanch/

      Delete
  36. Thanks Ravi for the detailed insights for property buyers. Well summarized.
    victims are many, but is there a way to appeal against this dissatisfaction or any open platform where people can fight (legally) against the builder??

    Chetan, Bavdhan

    ReplyDelete
    Replies
    1. Dear Chetan, please, visit - District, State and National Consumer Disputes Redressal Commission at - http://ncdrc.nic.in/

      Delete
  37. Dude,

    Lovely way of marketing! I liked your approach.

    ReplyDelete
  38. Hi Ravi, it's really worth reading this blog.
    Well still I have some doubts on couple of points you have clearly mentioned above as following,

    **1. Book a flat on the basis of per sq. meter carpet area - prevent a builder from committing a crime against State Government of Maharashtra & Central Government of India by selling a flat on the basis of per sq. ft. saleable area.
    - Is there any Law Act where it is has to buy a property basis on carpet area ? If there is, then
    please update here that also, it would be really helpful to speak explicitly with builder in order to purchase the property.
    Because for sure 100% of builders nowadays are selling flats against saleble area only.

    2. Refuse to pay infrastructure charges - means, charges for the car park - because a builder can not sell a car park - covered or open.
    Again, almost 100% builders take charges that include Car Park and others. How do we put this point to in front of builder, so
    we can park our vehicle in the respective parking area only. Currently everyone is paying around 1 - 4 lakhs for the parking area.

    3. Know the actual charges required for electricity, society formation & firmly refuse to pay exorbitant charges.
    Well this must be standard everywhere. But still it's been observed that, as per the builder reputation and brand charges differ too.
    So, what could be the solution for this ?

    So, if any buyer is purchasing flat according to these points, he/she could get much more monetory benifits.
    For me it would be really helpful from monetary aspects.

    ReplyDelete
    Replies
    1. 1. Buying based on carpet area is as per Maharashtra Ownership of Flat Act,1963 or MOFA as it is commonly known.

      2. Parking - Earlier parking slot was marked in the agreement, no longer now after supreme court verdict in 2010. This means no buyer can now claim right on particular spot.

      Buying a house? Don't let your developer fool you about parking space -

      " Since the sale of car parking slots is illegal, its purchase also becomes null and void. After a housing society has been registered and taken charge, it becomes the owner of all parking spaces within the project."

      http://articles.economictimes.indiatimes.com/2013-11-25/news/44449837_1_car-parking-parking-area-parking-slot


      3. Ask builders to show the receipt of the MSEB connection. They will refuse or give excuses that they need to pay 50-80k as bribes per meter to MSEB which is not true.


      Areas like parking are free from FSI which means parking, floor rise, xyz view is all 'upar ki malaai' for builders. Avoid paying builders these illegal charges.

      Delete
  39. Try To Translate in Marathi...So your mesg Reach to a Common n middle class man..who undrstnd very well n knw d reality..of Big players of Real Estate..

    ReplyDelete
    Replies
    1. Click this link to read in Marathi -

      https://translate.google.com/translate?sl=auto&tl=mr&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fravikarandeekarsblog.blogspot.in%2F2016%2F01%2FPune-real-estate-market-research-report-trends-forecast-2016.html

      Delete
    2. 1) Thanks, TheMonk!

      2) Deo, I agree with you. Instead of translating - writing - how about speaking - in Marathi?

      Delete
  40. It's time for people to move away from cities. Schools, homes, food - I really don't find any 'Value for Money' in these in Pune city.
    Schools - 50K to 150 K fees for mini.kg, Homes - 50L to 6Cr, Food - Expensive food in almost all areas.

    And prices in all such other businesses are related to the Rate per Sq.Ft/Sq.m. - Property prices needs to go down like anything which would help all classes of people.

    Thanks Ravi for writing such a nice article.

    ReplyDelete
    Replies
    1. Thanks for raising important point, Ahsu! Yes, education & food prices have direct connection with the property prices.

      Delete
  41. Mantra Properties... Think twiced before you go with them.

    If you go with Mantra and something goes wrong by the Builder and if u need to address this to the Builder and need to get it corrected from him, then forget about the appointment and forget that you could see or meet the owner/ boulder of the Mantra Properties.

    ReplyDelete
    Replies
    1. Thanks for sharing your experience about Mantra Properties!

      Delete
  42. yes, agreed with Deo Dhotre saheb, please translate into Marathi also...

    ReplyDelete
  43. Hello Ravi sir,
    What is your Opinion about Pride World City, Charholi Pune. The project adjacent to D Y Patil University, 3-4 kms from Dhamori-Lohegaon Road?
    Please share your knowledge about this project.
    Thanks

    ReplyDelete
    Replies
    1. I find Pride World City worth considering, Vishnublogger. Of course, only after a few changes, improvements & alterations.

      Delete
    2. See this video posted earlier by Ravi which is that of sales person of Pride World City, Jungle, Pune. No EC, still constructing, which is illegal. See how builder is fooling buyers.

      https://www.youtube.com/watch?v=vpAWz47UoTw

      Delete
  44. Dear Ravindra Sir, Thanks a lot. Its a very useful blog. We are the sufferers at the hands of builder and Tanker mafia at Wagholi. Thank yo once again for an eye opening blog. I,ll be in touch with you for advice. Sir if possible please share it in MARATHI so that more n more needy people will get benefit of your valuable n wise words.

    Regards
    Shaukat N. Khan.

    ReplyDelete
  45. Since this is very important blog from Ravi, please click the link below of MOFA which is from official website of Housing Dept, Govt of Maharashtra.

    https://housing.maharashtra.gov.in/Sitemap/housing/pdf/actsrules/Maharashtra%20Ownership%20Flats%20(Regulation%20of%20the%20promotion%20of%20construction%20sale%20management%20and%20transfer)%20Act%201963.pdf


    Take print out of it or save pdf on your phone & everytime you visit any builder, ask him whether they fulfil all the clauses mentioned in it. This is what needs to be done till RE regulator happens.
    Share this link with as many people as possible.


    Also check out latest news -

    Blow to India's tallest skyscraper as 13 upper floors deemed illegal -

    http://timesofindia.indiatimes.com/city/mumbai/Blow-to-Indias-tallest-skyscraper-as-13-upper-floors-deemed-illegal/articleshow/50749979.cms

    That's why you need to hire lawyer before buying any property. Now what will be fate of those buyers who booked in these illegal 13 floors ? Builder bharose, LoL.

    So buy ready possession flat with all approvals with good infrastructure & till the time you don't find one which fits into your requirement, stay on rent. Renting is easy, almost without any liability & yes, it is very, very cheap compared to buying at current prices.
    Be alert, be safe.

    ReplyDelete
  46. Well said ravi sir.. Even builders like kumar properties dont have the required quality of construction.. Leakages, poor quality of water supply, very poor quality of hardware like locks is very common with them.. They are already in bad books of customers because of their save-cost-compromise-quality policies..

    ReplyDelete
  47. Thank you for this excellent blog. It is very helpful. My query is two fold. One, what are your views about the property resale market. Will it follow the same downward trend or will new buyers turn to the resale market, thus benefiting the resale market? Two, will rental rates stay strong in these market conditions?

    ReplyDelete
    Replies
    1. The prices of resale properties also need correction. Come down. Availability of rental flats is huge. Rent wont go up.

      Delete
    2. Agree Ravi.
      There has been no change in my rent for past 2.5 years.
      Even better is that the rent is not even 1.5% of flat price at current rates.

      Delete
  48. Very good blog. Thanks Ravi Karandeekar sir.
    There are laws like do not pay for parking but if anyone do so he/she would not get parking slot from builder. To overcome this situation what is best possible way other than court.
    Also I wanted to know the opinion/views/experience of Nanded city, Pune.

    ReplyDelete
    Replies
    1. That's why collective action is essential, Dnyanesh!
      I will write updates about Nanded City.

      Delete
  49. Nice article. I am planning to take a ready possession flat in Pune. The price rise in Pune real estate is very horrible and I believe this is very baseless. I dont understand what was changed in last 2 years where prices are almost doubled. I dont see any drastic change in pUne or peripherals of pune.

    Every Builder and sales person will say, Sir, please raise your budget by 15-20 Lakh. Is it a joke to increase a budget with of such large amount. On one site visit, I asked that sales person, do you really understand, what you are saying!!

    Can anybody suggest me, what to do or should I wait for sometime. Is prices will go down? There is rumour in market that Govt is looking to some changes in taxes which need to pay for booking /agreement, is it true?

    Please help, I am very much confused and my parents are pushing me for booking.

    ReplyDelete
    Replies
    1. " Please help, I am very much confused and my parents are pushing me for booking. "

      - Seems you are in marriage market ! LoL.
      If a girl marries you just because you have flat, she will dump you the moment she finds someone who owns more superior property. Better remain bachelor than marry someone who looks at you as ATM machine.

      Buying house happens to be one of the most important decision, especially financially & money matters should never be dealt with emotions but only by sound calculations. And at current prices of Pune property, it makes absolutely no sense to buy even if you have the money. Better keep the money in bank & on interest earned, pay the rent. Enjoy house virtually free of cost.

      Delete
  50. No one can do anything about the real estates prices

    ReplyDelete
  51. Replies
    1. Hi Raviji,

      Can you please write about NEO CITY,WAGHOLI by Jalan, Maple and pristine builders?
      We booked flat in 2012 with promise of possession in 2014 but today still it is under construction.
      so almost 4 years and still no progress
      Please visit and write about NEO CITY Raviji.

      Delete
    2. Sure, Asmita. I will write about Neo City. Can we meet on this weekend? Please, confirm on 919860044110.

      Delete
  52. Raviji

    Please vist NEO CITY PHASE 3 WAGHOLI and write about Builders Jalan, Maple and Pristine.
    we booked flat there in 2012.

    The builder team made promise about giving home possession from time to time as below
    1.Diwali 2014
    2.December 2014
    3.May 2015
    4.December 2015
    5.January 2016
    6.NEW POSSESSION PROMISE by team MARCH 2016

    CONSIDERING THE CURRENT PROGRESS, IT WILL TAKE 6 MORE months at least

    I request all Pune home buyers not to book any flat in any project of Builders Jalan, Maple and Pristine if you are smart enough.


    ReplyDelete
    Replies
    1. Sure, Asmita. Can I visit on this weekend? Please, call me on 919860044110 to confirm.

      Delete
    2. Yes Raviji. You can visit the site this weekend.

      Delete
  53. Thanks Ravi for sharing your blog.I have similar experience with reputed builder like marvel. I have bought flat in fria wagholi and they have given furniture possession.I have mseb and water in my flt.can I stay there? Also how can I force them to give possession letter because they say that it will only come after few years when project is all completed.. I am in a bad state now ..much appreciate your views on this.

    ReplyDelete
    Replies
    1. "reputed builder like marvel."

      - ROFL....haha. Check this - http://ravikarandeekarsblog.blogspot.in/2015/11/Is-Flat-Buyers-Direct-Intervention-The-Only-Solution-for-Marvel-Realtors-Problems.html

      Do you have completion certificate for your flat ? If not, it's illegal to stay in such flat. Builders can take completion certificate building wise & no need to wait for entire project to get completed. If completion certificate has not been received, this means builder has not fulfilled all the norms till date.

      Bluntly ask builder why completion certificate has not been received. Also try to speak with someone at Wagholi gram panchayat office.
      And yes, you don't get complete income tax benefit on interest paid towards home loan in absence of completion certificate. Need to get compensation from builder on this.

      Yet another case why ready possession flat with all approvals should be purchased.

      Even Mr. Yezdi Motiwala, an avid reader of this blog has been cheated by Marvel. Jai Hind.

      Delete
    2. Thanks Monk..yeah I also believed they were reputed but I was so wrong..they have delayed fria very badly and quality is also very poor.I checked with gram panchaya and they said fria is not even registered with them..not sure where I can go from here..I paid premumim money in a fringe place like wagholi and now repenting.. I can't wait for another 4 years for possession cert indicate and moving in..lot of families already stay and I have a metered mseb connection in my name

      Delete
    3. So sorry. my-kingdom. Please, visit this website & file a case in consumer court for deficiency in service - http://ncdrc.nic.in/

      Delete
  54. Blow to India's tallest skyscraper; High Court says 13 floors of Worli's Palais Royale illegal -

    http://www.dnaindia.com/india/report-bombay-high-court-13-floors-of-plush-residential-tower-palais-royale-illegal-2171003

    This shows that builders are shamelessly doing illegal things even in expensive projects. So buyers should never ever trust builder blindly irrespective of project.

    ReplyDelete
  55. The words you have shared is very informative and helped us to understand quite easily

    Thanks sir

    ReplyDelete
  56. I purchased flat in Kolte Patil Life Republic and they promisedfor delivery in Dec 2014. No delivery after Jan 2016. Is the something wrong with Life Republic project?

    ReplyDelete
  57. Dear Ravi, while you have enlightened a lot of home buyers about flats in and around Pune, an article about the perils of purchasing a plot in a plotting scheme as a "farmhouse project" and the damage it causes to the environment will be greatly beneficial. You have a large reader base and a lot of people are looking to invest in these "farmhouse" schemes. Hills are being flattened and trees are being cut for these projects in all the talukas around Pune. Once people are aware of the perils of purchasing in a farmhouse scheme and the damage they are indirectly causing to the environment, people might think twice before buying. Once the buying stops, the number of plotting projects will reduce to, just like in the apartment sector.

    ReplyDelete
  58. Really appreciate your views expressed in articles...so true....keep spreading such awareness for benefits of common man....one question I have - Do we need to stop buying flats in Pune and start living on rent? as it is only affordable option as of today.

    ReplyDelete
  59. Dear Ravi sir, your blog is very useful and a big thanks for it.please comment on the projects in dighi by b.u.bhandari-aurum joint venture project and also by kamalraj builders.

    ReplyDelete
  60. Well done Ravi Karandeekar. You can start a real estate agency, whereby you sell your customers only flats from such builders who fulfil all the criteria that you mentioned in your article. Today, real estate agents hog unfair charges for crap service. Such people making money is demotivating for all the meritorious students who work hard to get professional degrees. A researched and good service by people like you can stop crap people entering the market. Best of luck and my good wishes with you. I am looking to invest and when I do, I would like to consult you professionally.

    ReplyDelete
  61. Hi Ravi, have you visited Vivanta life vishakha, dhanori? Is it worth buying a 60l+ flat in nanded city? Can we insist on buying per carpet sqft where other buyers are okay with saleable area?

    ReplyDelete
  62. Hi Ravi, Its really an eye opener from you. Thank you so much for clearing most of my doubts to buy a home in Pune. As someone rightly said, living in Pune is like a nightmare these days considering the bad quality of life and huge amount of expenses towards anything you say e.g.food,education, entertainment, real estate etc. Add to that insecure feeling because of freely roaming goons. Its such a waste of money, energy and precious time to struggle to live in such depreciating city.

    ReplyDelete
  63. Hello Raviji, what is your opinion about Amanora Adreno towers and Amanora township

    ReplyDelete
  64. Hi Ravi sir thank you for a great article it was really helpful as i was going to buy a flat in some time and the loan work is going on now.We are living on a rented house for a long time now.It would be really helpful if you can tell what will be the best time to buy the house and that from which builder if you can please.Thank you.Sorry for bad english :)

    ReplyDelete
  65. Blaze at Chinchwad brings to fore issue of side margin areas -

    http://www.punemirror.in/pune/civic/Blaze-at-Chinchwad-brings-to-fore-issue-of-side-margin-areas/articleshow/50799176.cms

    And despite news above, builders sell side margin/open spaces as parking & idiot buyers also buy parking which is in anycase illegal. Hope by news above buyers don't buy atleast open car parks which is nothing but side margins & belongs to society & not any individual. Builders sell open spaces for money without bothering about flat buyers safety but flat buyers are also equally idiots to go ahead & buy. If flat buyers don't buy, to whom will builders sell to ?

    ReplyDelete
  66. Another major infrastructure project of ring road in Pune goes for a toss. Many builders were selling flats & plots on this proposed ring road. Don't know what the reaction of buyers would be due to their blind trust in builders.

    रिंगरोडला खोडा -

    http://www.esakal.com/Tiny.aspx?K=LOZSC

    PCMC’s project of effluent treatment plant is on paper for past 7 years.
    Pune International airport is in air whose location keeps changing every now & then. Rivers are dead & are nothing more than open sewers. Public transport is almost non-existent. The quality of most projects is third class & still builders demand first class prices.
    I really wonder on what basis builders, investors demand so high prices when there is nothing to support them.

    ReplyDelete
  67. SBI launched a cheating scheme to cheat buyers further. Real estate regulator and home loan regulator should be imposed because banks are trying to cheat the buyers. Why taxes for property purchase are being collected by the buyers who had already paid the income tax on his hard earned money.

    http://timesofindia.indiatimes.com/business/india-business/Interest-only-EMI-gets-you-20-more-loan/articleshow/50813335.cms

    ReplyDelete
    Replies
    1. SBI NPAs are rising & are amongst the worst in the country. Since banks like SBI, ICICI, HDFC also lend heavily to builders, they try to come out with some pro-builder offers which are bad for home loan takers. These banks eat, sleep & drink with builders so their priority will be to save builder first.

      RBI's deadline to clean up bad loans may hit banks profit: SBI -

      http://timesofindia.indiatimes.com/business/india-business/RBIs-deadline-to-clean-up-bad-loans-may-hit-banks-profit-SBI/articleshow/50594037.cms

      Why ICICI Bank’s bad loan worries signal continuing pain for sarkari banks -

      http://www.firstpost.com/business/why-icici-banks-bad-loan-worries-signal-continuing-pain-for-sarkari-banks-2602464.html

      0% down-payment offers by builders & these type of gimmicky offers by banks like SBI is clear example that real estate bubble will burst anytime. And those who don't want your money to get burnt, just close your account in banks like SBI, the way I have already done. Banks like SBI use our own money against our/flat buyers interest & don't bother even with rising NPAs. Teaser rate loans of 2008 did same thing & remember, the US Subprime crisis was also caused due to low interest rates & 0% downpayment from builders, there is big similarity today between US sub-prime crisis & what we are seeing here locally.

      Ofcourse, if home buyers don't buy & wait for price crash of atleast 50%, the banks will be forced to tell builders to fall in line & cut prices, which was said earlier by none other than RBI Guv R Rajan.

      Delete
    2. Thanks for share TheMonk. I come to know that builders are already giving 30-40 % discount to investors from backdoors . Real buyers are still getting the overpriced flats. So it is smart decision for real buyers to wait for the 50% price cut that is bound to happen other wise pay for over price flats and fill pocket of builder and investors with their hard earned money.

      Delete
  68. Hi Ravi,

    I have one question, does pricing of the sample flat in any small scheme really affects for the price negotiation? Means if price for other flat on same floor is 56 Lac, then builder says that he has put extra efforts for this sample flat so the cost will be 58 Lac. (Not including any furniture or fittings. For that separate negotiation is there) He says that even for internal coloring and finishing the cost he put is more.
    Really it like this? And it should be considered?
    Builder is not big brand and there is nothing extra furniture of difference in doors or anywhere I can see.

    ReplyDelete
  69. What are the predictions and reviews about Budget in Feb 2016 for Property aspects?
    Is there will be any variation in taxation or there would be any points which will really change the market of real estate?

    ReplyDelete
  70. Thanks Ravi for such an informative blog!

    Have decided to purchase a ready possession flat in ' 43 Private Drive' by Bhandari Associate. Project is ready, except for few new buildings which are coming up. People have also started staying.
    Builder has shown me OC which is written in Marathi. Couldn't understand.
    Do u suggest I should appoint a law year to check all papers? If yes, can you please suggest any good real estate law year?

    Thanks,
    Anirban

    ReplyDelete
    Replies
    1. "Do u suggest I should appoint a law year to check all papers?"

      - Seems you are IT guy, hence this question. LoL.
      Frankly, is this supposed to be even asked ? Sorry, I may sound rude but if you plan to buy flat without hiring lawyer, then I must admit that my 10th pass local kiranawala guy is indeed more smarter than most of IT folks in Pune.
      No wonder then builders makes fool of them.

      Delete
  71. I am planing to book a flat in Pride World City. Please let me know any pros and cons regarding this project so I can make my decision.

    ReplyDelete
    Replies
    1. Watch videos in this blog & you will get your answers -

      http://ravikarandeekarsblog.blogspot.in/2016/02/Why-is-it-so-hard-for-Pune-builders-to-be-honest.html

      Delete
  72. Hi...i m planing to buy flat in akshar elementa tathwade...it it wrth n safe?plz rply

    ReplyDelete
  73. No allocation for 34 villages proposed to merge with PMC :

    http://indianexpress.com/article/cities/pune/no-allocation-for-34-villages-proposed-to-merge-with-pmc/

    No money & infrastructure for nearby Pune villages & neither will these villages be merged in PMC. Most of builders in fringe areas were agents of previous Govt politicians & all the hype was made to promote the projects.

    All buyers & investors who purchased flats outside PMC limits will have village grade infrastructure.
    So many times Ravi keeps saying look at approvals, infrastructure but even now some buyers ask whether lawyer should be hired before buying flat. What can Ravi or anyone else do if someone is determined to jump from a cliff ? I still wonder what makes people pay first class for third class projects & location ?

    ReplyDelete
  74. I am planing to book a flat in Godrej infinity Keshav nagar. Please let me know any pros and cons regarding this project so I can make my decision.

    ReplyDelete
  75. One more fraud builder arrested. Their project, Countrywoods at Kondhwa which Ravi has covered over an year ago showed how buyers have been cheated by this builder.

    Hubtown MD Vimal Shah arrested in money siphoning case -
    He served as president of industry body MCHI

    Vimal (Vyomesh) Shah, managing director of public listed company Hubtown Ltd (formerly known as Ackruti City Ltd), was arrested on Monday evening in connection with fraud in Maharashtra government- controlled Lokshahir Annabhau Sathe Development Corporation, according to several media reports.

    The Mumbai Mirror reported that the state criminal investigation department (CID) arrested Shah along with three others in the Rs 400 crore scam.

    http://www.vccircle.com/news/real-estate/2016/02/09/hubtown-md-vimal-shah-arrested-money-siphoning-case

    ReplyDelete
  76. Thanks Raviji for such informative movement against fraud of builders. Everybody has shared their bad experiences.
    I want to know can you share any standard format of agreement to buy or book the flat in pune. What are the necessary documents to be checked before booking flat or house.
    Please reply I think this will help the buyers and it will prevent the future crisis also.

    ReplyDelete
    Replies
    1. Informations is there on the web, Amit.

      Lack of information is not the cause.

      Plus, all human beings have 'animal instinct' too!

      Delete
  77. Hello Mr. Ravi,
    Very nice article indeed. There are some typical times when some buyers have been benifitted by builder or are relatives of a builder do not come together to fight. And the irony is individual cannot fight with builder. Of course one can go to consumer court but these Guntha Mantties can reach to any level. And then there is no end to individuals sufferings.

    ReplyDelete
  78. Some useful news & reports :

    The darker side of India's real estate boom - this phenomenon of thousands of potential home-owners left stranded by builders with half complete or poorly-built apartments.

    http://www.ndtv.com/video/player/truth-vs-hype/truth-vs-hype-real-estate-false-hopes/403653

    It’s a real slowdown in realty:

    http://www.hindustantimes.com/business/it-s-a-real-slowdown-in-realty-80-000-homes-unsold-in-mumbai/story-7yWEWxX4lhOrHTnJY302DI.html

    ReplyDelete
  79. I was also wondering as to how 2 major builders going for schemes like this, thanks ravi sir for throwing light on this, I am in Army and was tempted to go for this offer while on leave , but your advise have opened my eyes. you are doing great job sire for safeguarding common mans hard earned money. thx sir

    ReplyDelete
  80. Hi Ravi
    i wanted to know whether Marvel zephyr by Marvel realtors Kharadi has Occupation certificate as well as Environmental clearance?

    Thanks in advance

    ReplyDelete
    Replies
    1. "Show me the papers!" ask Marvel. While buying a property you have to repeat this sentence again & again.

      Delete
  81. Hi Ravi,

    I am planning to buy resale property, which builder has yet to give the possession. I will transact once owner gets the possession from PCMC.

    1. Do I need to pay stamp duty for this property?
    2. Should I pay him charges for covered parking ?
    3. Can he demand MSEB, maintenance, club house charges from me?

    I would appreciate your help on this

    Thanks

    ReplyDelete
  82. Hello Ravi Sir & the MONK,

    I have few question.

    If the ready reckoner rate at the place of construction is 5500 psf, can a builder sell the flat in less than 5500psf?

    The ready reckoner rate in Balewadi is 5500psf (most builders are selling in the range of 5800-7000). How much we expect the price of 2bhk flats come down in case of rate correction?
    How is Pinnacle neelanchal, baner?

    ReplyDelete
  83. Dear Ravi sir..your blogs are really eye openers and enlightening..started reading of late..Recently invested in 1BHK in Godrej infinity at Keshavnagar pune as an investment..What is your take on this..Chances of appreciation and other aspects and prospects..kindly reply..thanks..

    ReplyDelete