Wednesday, March 22, 2017

Buying a resale flat? Beware of flat owner - broker nexus

After searching for a new property in Bavdhan, Pashan, Baner & Kothrud area, and finding the property rates unbearable,
I decided to go for a resale one.
But on the contrary it was more 'haunted' experience!
The resellers greed and selfishness let not compromise them on their 3rd class property rates which are almost equal to new ones:


Buying a resale flat? Beware of flat owner - broker nexus

Folks !!!! Sharing my wonderful experience while searching for a resale flat in Kothrud Depot and Bavdhan Area !! Its fresh, brand new and 100% true.. !!

Read it and if you are planning to purchase, then get ready for humiliating experience while dealing with the indecent Nexus between flat owners and crook middlemen.

Here we go !!

Today I sat for a deal ( luckily not happened ) with an owner of 10 year old 1050 sq ft flat near Bank Of Maharashtra and with an illiterate and crook middleman (owner's friend) and my uncle who is a bank manager and has handled Loan department as well.

I hoped that considering the correction of 10 to 15% for new flats and some extra for resale flats and considering the age of building and other factors and confirmed the total cost including everything from bank's loan department and from some agency; prices of resale property could be affordable and may get the good deal.

Initially we started pitching with this evaluated price.

Once they heard the initial price - their eyes popped out of eye sockets.

Reacting to their weird reaction; we asked for their expectations;
after hearing their expectation our ears send these sound signal energy to the brain and converted the sound energy into anger, irritation.

Expected price for not so maintained property, 10 years old, 910 sq ft carpet, few leakages here and there is 75 Lakhs !!!! Booooommmmmm

Then we raised the bar from our side to 2 to 3 lakhs i.e up to 61 to 62 Lakhs...

After hearing this - one of the agent's body language became restless and told in a very rough and arrogant tone .. and giving a sarcastic laughter .. nodded with a big NOOOOO

We insisted on the justification of their irrational demand that too without registration n all.

In a defense - the owner and his crook and shabby friends insisted this demand is valid as this property is road touched...and availability of goods/ grocery items in vicinity.

To which my uncle reverted and deflated their baseless defenses by saying-

1. Road touch properties are good for commercial purpose and not for residential,
even in internal parts and in all lanes of Bavdhan Khurd each everything is available right from the medicines, h/ws, goods n everything you ask for.. Thanks to Rajasthanis / Chowdaries..."

2. Where is the consideration of property's age while calculating the whopping amount of 75 Lakh ? (There isn't a difference of 2 Lakhs in new and old property)

3. If a brand new flats are available at the same price inclusive of registration, etc etc then why should we buy a 10 years old flat for 75 excluding stamp duty, registration ?

4. Current rate in Bavdhan area is 6300 to 6400 for new properties, so even if you calculate with this rate property doesn't exceed the 64 Lakhs mark. For old property it must be lesser!

5. Why would we pay for Water leakages fix and few repairing work?


After hearing this revert; all the false claims of crooked nexus baffled and didn't have anything to substantiate their defense!!

Then agent peeped in and started defending his client like an honest dog!!

Here is what agent said:

1. My client can't afford the 63 lakhs and it would be a loss
( .. Toinnggggg.. what a stupidity. Owner is already getting around 300% profit)

2. Road touch properties are still in full demand and preferred by many for residence
(We asked for the recent purchases through him to substantiate his claim but he couldn't)

3. I've been active in this areas for many years ( funny ) so I know this property is worthy ...
(Reason for worthiness?? Ooppss....couldn't handled by his brain to put forward the good things.)

4. Water leakages fix and few repairing work must have to bear by you as this comes under your own special and customize requirement and modification ...(!?)


Finally the owner, his goonda friend and dumb middleman refute the deal by flaunting the arrogant body language and hand gestures, popping eyes gazing each others and transferring the message of repudiate, sigh with hmmm sounds were the enough signs for us not to waste a single moment of our life with such indecent, ignoble filthy people!!

Husshhhhhh

After hearing such baseless answers and stringent demands and reluctance to negotiate and reduction in demand, we decided to walk away

But before leaving my uncle taught a lesson of lifetime by prodding with taunts (in the style of Punekars) -

- As middlemen, he didn't play the role of negotiator/ middleman but biased towards the owner (so called family friend)

- When we were ready to negotiate and try to finalize to a golden mean, he shielded the owner and stopped him to negotiate further

- He acted as lawyer, spokesperson, defender of an owner

We were left with the first actual, real, physical bitter experience while hunting for a dream home in Pune; earlier to which I had read the similar experiences on web portals, blogs etc of many property seekers.

Conclusion :

Common man's search (aka Struggle) for a dream house in Pune (not included fringe villages like Pirangut, Shivane, Dhayari, Kesnand etc.) as of now still looks distant!!!!

Mr. Resale Flat Buyer, Tujhse bhi jyada pagal lok is duniya mein hai!


Mr. Resale Flat Buyer, Tujhse bhi jyada pagal lok is duniya mein hai!

Guess! What would be the view of that flat seller & his property broker about above failed negotiations?

Do you think that they would have realized how irrational was their demand?

Do you think that the broker would have told the flat seller - "Let us reconsider the property price & try to renegotiate"

No! I don't think so!! Instead of that both of them must have told each other -

"Mr. Resale Flat Buyer, Tujhse bhi jyada pagal lok is duniya mein hai! - Pagal Lok - who while buying a flat - give importance only to the location!!"

I completely agree with the flat seller & his agent!

If this resale flat buyer - who has a budget of 63 lakhs for a 2 bhk - really cares for value for money - for the quality of property - he would have gone for a new flat - which is constructed as per current development rules - using current construction methods - having latest specifications & amenities - in a developing area of PCMC. For example - Siyona at Punawale!

But for Mr. Resale Flat Buyer - location - Bavdhan near Kothrud - was more important than the quality of the property.

When the flat seller & his agent tried to take advantage of his weakness - Mr. Resale Flat Buyer got upset. Instead of blaming himself for being so naive - Mr. Resale Flat Buyer started blaming the nexus of flat buyer & broker and requested me to share his 'haunted' experience.

Look at his experienced uncle! Instead of guiding his naive nephew to buy a right property - the so called wise & experienced uncle supported his nephew!

Mr. Resale Flat Buyer, you get what you deserve!

Be wise! Stop blaming others!!

Pune real estate market has become so crooked and wicked - only because of the naive flat buyers like you.

What say you?

Please, share your views in the comments.

Related Stories:


1) Why are wise Hinjewadi IT Engineers booking flats in Pethkar Projects' Siyona at Punawale, PCMC, Pune?

2) Like Hinjewadi Techie Boys - I don’t Own a Flat - So What?

3) Sad story of a son who purchased a flat in Sus

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

5) 5 Objections Against Maharashtra RERA Rules

6) A visit to Vasudha Etasha, 71 Kothrud, Pune

7) The best way to buy a flat in Pune real estate market

8) Pune : Agent took me to Police as I purchased from Owner directly and did not pay his brokerage

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

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

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

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  
-

Monday, March 20, 2017

Why Co-Operative Housing Society?

How & why forming a Co-Operative Housing Society
is beneficial for the flat buyers
than an Association of Apartments -
explains Mrs. Seematai Bhakare, Director,
Pune District Co-Operative Housing Federation Ltd.
- पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या.



While booking a flat - you can not focus only on owning your own home. You have to focus on how you can live a comfortable life in your own home - in your housing scheme. The best & the only way to enjoy a comfortable life in your own flat is to form a Co-Operative Housing Society and manage it well. Claims Mrs. Seematai.

In her 20 years career as a consumer activist, Seematai's experience is - while booking a flat & registering flat agreement - first time home buyers give least importance to whether the builder is going to form a Co-Operative Housing Society or an Association of Apartments. Including how much the builder is charging to form it.

However, after flat possession, some flat buyers understand the benefits of a Co-Operative Housing Society and to correct their mistake - start fighting with the builders.

Instead of that - before booking a flat - if you confirm that the builder is going to form a Co-Operative Housing Society - you can live a comfortable life & earn good property appreciation if you manage your society well.

Co-Operative Housing Society is better than Association of Apartments for 2 reasons - 1) Ownership 2) Management

Housing scheme is a collective living - community living - living in a group.

Obviously if the ownership of the entire housing scheme - all buildings & the plot of land - is with a community - means with a Co-Operative Housing Society - maintaining society & developing community life becomes essential & easy. That's why Maharashtra Government has passed cooperative law & developed entire system to support smooth functioning of Co-Operative Housing Societies. Including a special court.

Against this - in an Association of Apartments - the ownership of a flat & equal share of a plot - is with individual flat buyers. This is inorganic & unnatural. How can you win if there is no team spirit? How can you win if there is no one who shares your goal & no one to support you to achieve it? Asks Seematai. Besides this - there is no system to support - no special court to resolve disputes!

Along with legal system, there are service providers who specialize in maintaining the property and managing accounts of a Co-Operative Housing Society.

And most important - there is Pune District Co-Operative Housing Federation Ltd. - पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या. - www.pdchf.org - to assist, help & support! That's why every Co-Operative Housing Society should become a member of Federation. Appeals Seematai in this 26 minutes Marathi YouTube video. (To download & watch it on your mobile, please, click here.)



Contact for more information:
Mrs. Seema Bhakare,
91 98603 68123,
Seema.Bhakare@gmail.com
Director,
Pune District Co-Operative Housing Federation Ltd.
पुणे जिल्हा सहकारी गृहनिर्माण महासंघ मर्या.
www.pdchf.org


Subscribe for Free!


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

Feel free to call me:


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

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

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

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

Monday, March 13, 2017

Why are wise Hinjewadi IT Engineers booking flats in Siyona?

1) Real estate development is not just business. It’s a very personal business.:


Nikita & Rohan Malik - Site Walk 2 at Pethkar Projects' Siyona at Punawale PCMC Pune on 22nd January 2017

When Jitu Sir - Mr. Jitendra Pethkar - invited me for the 2nd Site Walk at Siyona - 9 acre township of 2 BHK, 2.5 BHK & 3 BHK Flats on Mumbai Bengaluru Highway at Punawale in Pimpri Chinchwad Municipal Corporation - I was not surprised. Jitu Sir is my friend. He has invited me for the Bhoomi Pujan, the launch & of course, for the 1st Site Walk. And in the last 3 years, quite frequently, he has taken me to the site to show the construction progress of Siyona. So, for me the invitation was just a friendly gesture.

After the event, Jitu Sir asked me, "How was the event? Wasn't it better than the 1st? This time my marketing & engineering team had planned the entire event!"

"But the concept was yours - Right?," I said.

"Yes, it was mine - but not anymore - now, it's theirs. At the time of 1st Site Walk - when I told them the concept - my staff was a little hesitant about it..," Jitu Sir said.

"Facing all flat buyers is - like Aa Bail Mujhe Maar - certainly, a frightening situation - no wonder your staff was hesitant!," I said.

"You know? After the first event - they realized the importance - and this time they were enthusiastic about it - so they took responsibility to organize it," Jitu Sir said.

"Congratulations....big achievement," I said.

"Yes, indeed!," Jitu Sir said.

Those who don't know Jitu Sir - like I know - may not understand why he was so happy about his sales & engineering team.

By realizing the importance of Site Walk and by enthusiastically organizing it - his sales & engineering team has put into practice Jitu Sir's first and most important business principle - Real estate development is not just business. It’s a very personal business.

Our job is not only to sell flats. Recover loan installments.
Our job is not only to construct buildings. Make flats ready for possession.
Establishing strong connection with the flat buyers is our major responsibility.
Giving personal commitment to serve the flat buyers - from booking to possession - and even after that - is our job profile.

Jitu Sir believes in this. He lives by it. And he expects the same from his team.

Because, according to Jitu Sir, real estate development business - is not just a business.
It's a very personal business.

You know what?
Those who have booked flats in Siyona believe in the same.

For example -
For months Mr. Rohan Malik and his 20 friends discussed with Jitu Sir on Indian Real Estate Forum, then they met him 3 - 4 times in person - couple of times they inspected Pethkar Samrajya and then did group booking on the day Siyona was launched.
Why?
Because of the common belief.
Real estate development business - is not just a business. It's a very personal business.

Result is -
The flat buyers of Siyona know that they can reach Jitu Sir. They can talk. Write. Chat with him on social media. Meet him with an appointment.
They can log in to their account for the property related documents. To know about their payment status.
Visit the website of Siyona to know construction progress, current availability, and property prices.
Of course, from anywhere in the world.
The flat buyers of Siyona know that Jitu Sir will first inform them and then announce the reduced property rates.
Not only that! Jitu Sir will send them credit note of the difference too!!
At the appropriate stage, they know that, Jitu Sir will invite them for the Site Walk. He will give report of the progress of construction, announce important developments. Answer their queries. The site engineers will explain the construction process & progress.

The flat buyers of Siyona are always in the know.
Never in the dark about anything.
Why?
Because for Jitu Sir they all are persons. Important persons.
Not just bookings.
Not just allottees.



2) A Life of Happiness and Fulfillment:


A flat buyer hypothecates his life to own a home.
A builder must dedicate his life to give him that home.
For the successful completion of the housing project
- equal & 100 % commitment of the builder & the flat buyers is essential.
Jitu Sir believes.
That's why he develops only one project at a time.
At this point of time - Siyona - 9 acre township of 600 flats at Punawale.

The home ownership gives happiness & fulfilment to the flat buyers.
So is home building.
Jitu Sir believes.
And that's all he wants.
A life of happiness and fulfilment.

Otherwise, becoming a builder was never his goal.
He is a mechanical engineer. Topper.
Teaching engineering drawings was his first job.
But becoming a builder was his destiny.
When his architect brother decided to develop their ancestral property, Jitu Sir volunteered to attend the site office in the spare time. Soon real estate business became his full time job. And eventually passion.

In this journey - Jitu Sir experienced that for the buyers buying a flat is a very stressful experience.

"How can I make buying a flat a stressless experience?" - Jitu Sir asked himself.

Jitu Sir found the answer:
1) Identify & eliminate the points of friction between the builder & the flat buyers
2) Reduce ambiguity - bring in more clarity

Based on this, Jitu Sir prepared terms of transaction between him and the flat buyers!
He calls them 'policies' & 'protocols' - Cancellation Policy, Discount Policy, Protocol Policy. He published these on the website of Siyona. Alongwith the property price list of the flats offered for booking.

The flat buyers of Siyona admired this initiative very much. Because now everything was in black & white. In public domain. Now there were rules which were applicable not only for the buyers but for the builder too.

"Yes! Policies have eliminated stress. But how can I make the flat buying experience happy & fulfilling?," Jitu Sir asked himself.

Jitu Sir got the answer -
I can enjoy a life of happiness & fulfilment only if my flats offer a life of happiness & fulfilment to the buyers.

This answer motivated Jitu Sir to develop Siyona as a green building project. He obtained GRIHA 4 Star Ratings.
He used computer simulation to finalize the layout.
He obtained environmental clearance precertification to develop proper infrastructural services.
He found out better construction practices to avoid cracks, leakage & seepage, better door & window frames etc.
While placing the order for lifts - he thought about the maintenance cost - not the purchase price.
When many flat buyers demanded mosquito net, he gave it to all windows in all flats.

The flat buyers of Siyona liked this win win situation - Jitu Sir would be happy only if they are happy!

3) Building solid, lasting business relationships:


Jitu Sir knows that when the flat buyers realize that they are very important persons for the builder and
the builder's happiness & fulfilment depends on their happiness & fulfilment
- very solid & long lasting relationship is developed between the builder & the flat buyers.

Relationships is the foundation of Jitu Sir's business.
He spares nothing to invest in his business relationships.
It may be a relationship with the flat buyers, suppliers, contractors, his engineering & sales staff and even with his construction labourers.

These are business relationships where money plays important role.
That's why he avoids over trading & over borrowing.
He never launches multiple projects.
He never spends huge amounts on advertising & promotion to create a brand image.
Jitu Sir focuses on delivery - giving possession of the flats. At the committed date. Whatever may be the market situation.

Result is -
The flat buyers recommend Siyona to their friends.
Suppliers give him competent rates and urgent delivery.
His engineering & sales staff is with him for years.
His contractors work efficiently.
His construction laborers give better output.
And his friends like me - Ravi Karandeekar - feel like sharing his success principles with you! Which Jitu Sir has not shared in his video interviews!!

In these 4 videos Jitu Sir has talked about Siyona, GRIHA, construction practices, and how Siyona is a sound, secure & safe investment.
He has talked about what he does & how he does it.
But I thought that it is not enough.
You should know 'Why does he do it?'
Because those who have booked the flats in Siyona - have booked it basically because of his values & principles.
Because of his "Why".
And if you value the same - you will also do the same.
You will book a flat in Siyona.
Today itself.
Of course, if your budget permits.
Otherwise, you have to wait for the 2nd phase of Siyona.
Right? View the 4 videos and share your views in the comments, please.

4) You are safe here:


Jitendra Pethkar - Jitu Sir - of Pethkar Projects - welcomes you to Siyona - https://goo.gl/IEq0cg - 9 acre township of 2 BHK (66 - 70 Lakhs Approx), 2.5 BHK (76 - 82 Lakhs Approx) & 3 BHK (83 - 90 Lakhs Approx) Flats (exact property prices are here - https://goo.gl/19j4ox - on Mumbai Bengaluru Highway at Punawale - in Pimpri Chinchwad Municipal Corporation - Pune 411 033. To watch you can download this 9 minutes English YouTube video on your mobile here - https://youtu.be/-3_rW4ruMBE



5) How to avoid leakage seepage - dampness - cracks in the walls of your flat?


In this 14 minutes YouTube Video, Mr. Jitendra Pethkar explains the construction practices he follows in Siyona - 9 acre township of 2 BHK, 2.5 BHK & 3 BHK Flats on Mumbai Bengaluru Highway at Punawale in PCMC. You can download this video & watch on your mobile. - https://youtu.be/w_iUcKeZHYU

Besides avoiding seepage - leakage - dampness - cracks - Jitu Sir - takes extra efforts to offer a flat which has a diagonal living room (with exact dimensions) with smooth POP finish on the walls & ceiling - no beam & column offsets - smoothly sliding windows & doors - sturdy door frames - strong walls. Even the floor lobbies at Siyona are diagonal - spacious - and have good light & ventilation!

You know - Why does Jitu Sir take so much efforts?
Because he believes that - Real estate development is not just business. It’s a very personal business!



6) What is the difference between Jitendra Pethkar & other builders in Pune?


Pune builders are smart. Jitendra Pethkar - Jitu Sir - is not.
Here is how -

1) For the last 7 years smart Pune builders are launching projects without obtaining Environmental Clearance - EC. But Jitu Sir launched Siyona - 9 Acre Township of 2 BHK, 2.5 BHK & 3 BHK Flats at Punawale in PCMC - only after obtaining EC.

Though he has purchased 9 acre plot in 2012 - Jitu Sir waited 2 years to obtain EC. He launched Siyona in 2014 only after obtaining EC.

No smart Pune builder has lost so much time & money for EC.

2) Smart Pune builders know that IT Engineers in Hinjewadi know nothing about the importance of Environmental Clearance.

While booking a flat these IT engineers consider only 4 things. 1) Location 2) Budget 3) Amenities 4) Specifications. They don't bother about provision & management of basic urban infrastructure services in the project - like water - sewage - garbage - power - plantation - car parking etc.

Smart Pune builders take advantage of this ignorance among Hinjewadi IT Engineers and do not give any importance to these things while marketing & developing their projects.

Against this Jitu Sir takes efforts to educate Hinjewadi IT engineers about EC. He obtains GRIHA 4 Star Ratings. He invests huge amounts to develop basic urban infrastructure services in Siyona.

Why?
Because Jitu Sir believes that as a builder it's his responsibility. Responsibility to see that all services will work properly & the flat buyers will enjoy comfortable life in Siyona.

A first time home buyer can only think about booking a flat. As a builder - Jitu Sir believes that - it's his responsibility to see that they live a comfortable life in their flats. In this YouTube video Jitu Sir explains (in English) how he does it in detail. (To watch - you can download this video on your mobile.)

You may ask - like smart Pune builders - why doesn't Jitu Sir take advantage of ignorant Hinjewadi IT Engineers?

Because - Jitu Sir believes that - "Real estate development is not just any business. It's a very personal business."



7) Is it safe to buy a flat from a human being?


“It's just business - nothing personal...” most of the builders in Pune follow this rule set buy their Guru. The Godfather.

They disassociate themselves from the business and create a brand. A corporate brand.

"You know? Young Hinjewadi IT Engineers feel it safer to buy a flat from a corporate brand - than from any person!," Pune builders tell each other and spend huge amounts of money to create their corporate brand image.

Against this Mr. Jitendra Pethkar - Jitu Sir - of Pethkar Projects believes that - "Real estate business is not just a business - it's a very personal business."

Yes, Jitu Sir has built an organization - a company - a team. Pethkar Projects is not a one man outfit. But Jitu Sir & his team believes in one on one relationship. Long lasting strong relationship. A relationship based on rules and personal commitment.

That's why any flat buyer can write, talk, meet Jitu Sir in person, ask him any question and have a conversation with him. Not only about the construction progress, flat possession but about financial fitness of Pethkar Projects too. Like this 28 minutes YouTube conversation - to watch you can download this video on your mobile - https://youtu.be/3hwd9bEqUQ0

If you prefer to book a flat with a builder who is not a human being but is a company - a brand - an image - you will not like this video.

But if you like to be treated as a human being and demand 100% personal commitment of the builder to give possession of your flat in time & complete the project as presented to you in the brochure - you will like this video.



Related Stories:


4) 8 Questions Every Flat Buyer in Pune Should Ask a Builder

3) In 2016 - where to book a flat in Pune real estate market? (Part 2)

2) In 2016 - where to book a flat in Pune real estate market? (Part 1)

1) In 2015 - Where to book a flat in Pune real estate market?

Subscribe for Free!


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

Feel free to call me:


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

My email id is RaviKarandeekar@RaviKarandeekar.com Feel free to write to me. I reply as soon as i can.

If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

Of course, for a serious discussion, better fix an appointment at a time convenient to both of us. So that we can have uninterrupted & in depth discussion on my mobile (919860044110)
- on Video Hangout on Google+
- or on Skype (ravikarandeekar) .

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

Ravindra Karandeekar,
Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
IFSC- MAHB0000001



  

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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