Friday, March 3, 2017

A visit to Rucha Vantage, 2.5 & 3 BHK Flats at Baner, Pune

Know your neighbors - before booking a flat in any housing scheme:


A visit to Rucha Vantage, 2.5 & 3 BHK Flats at Baner, Pune

When I visited Rucha Vantage Baner, yesterday afternoon, a couple was already present in the sample flat. The same couple returned when I was about to leave in the evening. Obviously, they were there to finalize.

"Surprised to see us?," the husband asked me.

"No. Not at all. If I had been a flat buyer - who is looking for a 3 BHK Flat at Baner within a price range of 1.1 to 1.4 Cr - I would have done the same thing," I said.

"True - but it all depends upon negotiations," the husband said.

Price Negotiations!

Mr. Senior Executive, you are not only buying a property - you are becoming a member of a community of 64 families. Your community of 64 families will live in this 16 story Rucha Vantage for the rest of your life. Day in & day out, your community of 64 families will bear each other's sweat, inhale each other's smell, in the cabins of those 2 high speed lifts. In the bare minimum clothes - your community of 64 families will spend hours in the swimming pool on the minus three podium. Your children & grandchildren will learn all about life from the children & grandchildren of the other 63 families.

Mr. Senior Executive, I hope, you will make your decision only after knowing who are your 63 neighbours! You will get contact details from the builder & you will take efforts to meet the other flat buyers. You will make sure that you can get along with them. At least, you will see that there isn't a single bureaucrat, politician, actor & builder among these 63.

While finalization, Mr. Senior Executive, I hope, you will give more importance to the people then to the property price!

"Ravi Karandeekar, are you dumb? How can you share something basic like 'know your neighbors'...every experienced adult property buyer knows this," you may say.

But let me tell you - Sir, you are wrong. My experience is - when it comes to buying a property even middle aged high networth individuals behave like naive first time home buyers from Hinjewadi. Look at my blog on Marvel Selva Ridge Residency at Bavdhan or talk to anyone who has booked a flat in Marvel Cascada at Balewadi.

These experienced mature guys get carried away by the civic features of the project and just forget that a housing complex - it may be an affordable housing or a high end property - is basically a community living - a group housing scheme.

And at Rucha Vantage Baner there are so many good civic features that anyone who visits it for the first time can tempted to finalize impulsively. For example -

1) Location of Vantage is Baner - opposite Pashankar Auto, behind Kunal Venezia, some 300 meters from Mumbai Bangaleru Highway.

2) Though Vantage is in Baner - there is a proper approach road with street lights - a D P Road which eventually - god knows when - will be converted into a 4 lane road which will connect Balewadi Phata to Mumbai Bangaleru Highway.

3) Carpet areas are reasonable - 2.5 BHK 842 sq ft & 3 BHK 1082 sq ft - Terraces have privacy & add glamor.

4) All inclusive property price - approximately - Rs. 1.34 for a 3 BHK & 1.06 for a 2.5 BHK - sounds good

5) No floor rise & no premium location charges is a sensible policy

6) 3 BHK has 2 carparks and extra covered carparks are available.

However, when you look at the planning of the entire project & of an individual flat you feel that the builder has taken extra efforts to give value for money. For example -

1) There are no protruding columns in the flat. Because of this all walls in the entire flat look good. Besides esthetics & you can get more usable space - or you can say - there is no space wasted in any room.

2) Height - tiles to ceiling - is 10 feet.

2) Living cum dining is moderately spacious - 11'9" x 20'2" in a 2.5 BHK & 13'1" x 21'4" in a 3 BHK Flat

3) Kitchen - 10' x 8' in a 2.5 BHK & 10'4" x 8'4" in a 3 BHK - has ample of light and enough space for a double door refrigerator. The dry balcony - attached to the kitchen - is covered.

4) Sizes of the toilets are really good - width is normal 4'11" but the length is 8 feet + few inches - because of this the commode is not in front of the main door and there is enough space for shower cubicle.

5) Master bedroom of a 3 BHK Flat has a walk in wardrobe - 8'6" x 5'7"

6) Terraces have privacy. Even a peeping tom has to take efforts to invade your privacy.

7) Windows (with mosquito net) are of good size & quality and are easy to maintain.

8) Most important - no ugly looking pipes are visible in the terraces!

9) There are 4 flats per floor - 2 units of each type. Every floor has a lift lobby and connecting passages. Toilet windows are not visible from this connecting passage.

10) When you consider the price tag 1.1 to 1.4 Crore - you understand why the bedrooms are of reasonable size - 3 BHK Flat 1) 11' x 11'11" - 2) 10' 13'5" - 3) 10' x 11' - 2.5 BHK Flat 1) 10'6" x 12'5" - 2) 10'4" x 12'5" - 3) 10' x 8'8". If the size had been larger by a couple of feet - the flat would have been really lavish but would have cost above 1.5 crore.

Result is - the flat looks quite decent. You accept that the builder has taken efforts to construct a reasonably good property in the price range affordable for moderately successful middle class family.

Still, in the current market conditions, someone like me never stops to ask - 'Can the builder complete this project within time - as planned?'

True, RCC, brickwork, plaster of the entire building is done. When I visited Vantage, internal finishing work & construction of architectural projections on the top of the building was going on. Still some 12 months work is pending to obtain completion & occupancy certificate.

"Do you have financial strength to complete the project within time?," I asked Mr. Kailash Motwani, V P Finance, Rucha Group, who was there at the site.

"How can I convince you? Look at it this way -

1) We started accepting bookings when the construction was at an advanced stage - this proves that we have invested our own funds.

2) We haven't taken any construction finance - because we have our own funds.

3) We don't have investors - so no debt - no interest liabilities.

4) We have a couple of more land parcels - but we haven't launched multiple projects at the same time - means, we are committed to completing this project and we are devoting all our financial resources for this project.

5) We purchase major construction materials - steel & cement - directly from the reputed manufacturers at the competitive prices.

6) We pay our contractors within 15 days from the day bill is raised - means our contractors are working at full speed from day one.

7) Contractor's Bill Retention amount is only 6% - means we are fulfilling our duty and expect the same from them - which assures timely completion.

8) It means that - our construction schedule was never dependent on flat bookings - and as per my financial plan - it will never depend on bookings - till the completion.

9) We purchased this land ages ago - so our land price is quite low compared to the current land rates - which makes us financially viable.

10) Though our construction cost is on higher side - around Rs. 2,700 per sq ft - we can sale at competent & fixed rates - no price negotiations - result is we are getting good response - you have witnessed.

11) Besides this - though we have a project management company - we macro manage the site - we provide RO water to our labour camp - we are strict about hygiene in the workers camp - our contracts insist on insurance.

12) It means that we are not compromising or cutting corners or neglecting anything - this is possible only because our intentions and our actions are insink. We do everything in a right way. Means we are not only financially but mentally & physically committed to deliver - fulfil our promises," Mr. Motwani said.

"Yes, I saw the reflection of your strength at your site," I said.

What about you? Go and have a look at Rucha Vantage Baner. Who knows? You may find it worth considering.

Of course, you will never finalize till you know your neighbors & certainly, only after RERA is implemented in Maharashtra. Right?

Contact for more details:


Mr. Abhijeet Deshmukh, Sales Manager, 91 96899 77666

Rucha Vantage, Sr. No. 17/1/1, Baner, opposite Pashankar Auto (Audi Showroom) on Mumbai Bangalore Highway, behind Kunal Venezia, Pune - 411 045

www.ruchavantage.com




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

7) Yes! Most of the builders in Pune are unfit for booking a flat at under construction stage

6) Delayed flat possession is a well planned crime

5) Don't book a flat in Pune till RERA is implemented

4) Treat your builder like a stray dog

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

2) Who needs RERA!

1) 5 Objections Against Maharashtra RERA Rules

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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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For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

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2 comments:

  1. " Though our construction cost is on higher side - around Rs. 2,700 per sq ft"
    - Does builder thinks that all buyers are from Alibaug ? Fekne ki bhi limit hoti hain.
    I know people who work in L&T, Shapoorji Pallonji who do EPC work for major realtors & this is certainly not the cost. This builder is not even providing anything special in the project, & even the flooring is lame vitrified, nor is it 60+ floors. Seems that the contractors are looting the builder :p
    And as this issue of construction cost & land has come up, the actual rate/sq ft for buyer turns out to be atleast 11,000/sq ft. So even at today's land rates & construction cost, the builder is still making 3x profit & still keep crying how profits are less & how flats are very affordable !
    If 1.1-1.4 Cr is affordable for middle class, then I am sure that this year, the sales of Mercedes, Bentley, Rolls Royce will be more than Maruti + Hyundai + Tata combined !

    Now 2 news about crook builders in Pune, Gera & Kumar/KUL. In both the cases, court has hit the rear end of these builders, thanks to the fight put up by flat buyers against the injustice meted to them by these sadak chap builders.

    Goregaon society scraps deal with builder, wins Rs 6.2 crore in damages -
    Tables turned on builder who claimed Rs 100 crore from residents

    "This must have been the rarest of rare cases wherein the society firmly resisted a builder's usual delaying tactics, and took a bold decision to not only terminate the agreement but also claim damages."

    Lalit Jain, chairman-cum-managing director of Kumar Builders, didn't answer the calls or responded to messages.

    http://mumbaimirror.indiatimes.com/mumbai/cover-story/goregaon-society-scraps-deal-with-builder-wins-rs-6-2-crore-in-damages/articleshow/57486424.cms


    Residents score victory against Gera in HC case -
    Court rules developer cannot build further on amenity space of Gera Emerald City in Baner

    Residents of the upscale Gera Emerald City in Baner have scored yet another victory in the Bombay High Court (HC) in an ongoing case against Gera Developments Pvt Ltd. In an order that came out on March 1, the HC ruled that the developer in question cannot construct any further on the open space of the plot, and also cannot create third party rights.

    Some buyers in Affinia had also moved HC seeking relief. They had told the court that owing to this dispute between Gera Emerald City residents and the shared developer, construction of their building had come to a standstill, adding that they have been “vitally affected” by this halt. They also argued that most of them had taken loans from financial institutions to buy their respective homes. Justice Ketkar, however, did not grant them any relief.

    http://punemirror.indiatimes.com/pune/civic/residents-score-victory-against-gera-in-hc-case/articleshow/57436747.cms

    This news shows how flat buyers can get justice from third class builder & how buying flat without proper legal check (like Affinia) can make you good quality bakra for builder.

    ReplyDelete
  2. You are right monk, construction cost is not that much high in practical. For 5 floor building it is hardly 1200 Rs per sq feet and for 15 floor building it is around 1600 Rs per sq feet. I have developed various projects but my construction cost is never exceed 1500 Rs per sq feet

    ReplyDelete