Sunday, January 25, 2009

Celebrate Republic Day - 26th Jan! Select your new home - ready 3bhk flat - in Aditya's Breeze Park at Baner-Balewadi - Call 9860799299

More than 10 ready possession flats available:

When i received this sms, I thought, i should go and buy all available flats in Aditya Breeze Park at Baner Balewadi and close the matter.

"Holi kab hai? Kab hai Holi?," was, of course, the first question, marketing manager of Aditya Builders asked when he got hold of the calendar of this year.

But the manager did not stop at Holi. He has marked all festival and public holidays in 2009. He has written a program to send the SMS of "celebrating the particular day by booking 'refreshingly different ready classy home' at Aditya's Breeze Park at Baner - Balewadi - Aundh annexe." Here are the minutes of the meeting:

Share your views:

If you can, please, help me to answer this question:
"What would be better? Booking a ready 3 bhk flat of 1400 / 1465 sq.ft. at Aditya's Breeze Park at the property rate of Rs. 3,300 - 3,600 per sq.ft. or changing the mobile number?"
Please, share your views in the comments. (Comments Policy)

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I enjoy talking, sharing my views and giving advice about buying property in Pune real estate market (so, i do not charge anything for the first 5 minutes!) Call +91 98600 44110

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  1. That was very funny..I am really astonished by the 'Audacity of Hope'of these builders..How dare they still quote 3300-3600..I believe it shud be much lesser..
    Anyway good to see a post on this blog after a long time.
    Are there any bookings happening in Pune at all now ? I speak to friends in Pune and most of them are afraid if they will be able to even pay their EMI..
    Same here in US..Yaha job ka tension hain..
    Ravi please try and put a post on the buyer sentiment in Pune now and what are the best buys in this scenario..
    Also what are ur thoughts on some bargain picks and where the best area to invest in given the infrastrucuture etc..

  2. Yes, i will do that!! Oh! i have already started posting!! You can consider this as a first post. Can you? At least, Aditya's Breeze Park is ready for possession. No uncertainty about completion and the risk of delayed possession. But is it rightly priced? Negotiate! Unless and until we negotiate and book at a lesser rates, rates wont come down.

    Yes, same here, mostly people are not ready to take a risk of booking. Plus, there are very few projects which are worth taking a risk.

    You are right. I agree with you. Let us talk about those projects which are worth booking, where risk is minimum. After all, i blog for those who want to book a flat in Pune real estate market.

  3. You are right Ravi. We have to negotiate but it should be sensible. They are asking 3300-3600 is so high that even one can be apprehensive to visit the property.Price should be reasonable that customer can atleast come to see property.
    I am also living japan but even can't ask any of my relative to go & see the property. Job condition is so bad that nobody is feeling secure for six month also. So taking loan for high amount is out of question.

  4. well one see that the builder's days are numbered. My flat that was supposed to be ready by June'08 is still not ready and the builder is now doing everything he can to get people to pay.
    I was the sign of things to come. Saw the ad in Sakal today from Paranjape Builders asking people to invest in a FD with them and they'll pay 11% + interest.
    So the better days for buyers are not that far.
    And to think Mr. Karandikar saying 3200 was a very inexpensive rate, jsut a few months ago. You can even see his last blog post about another township in Hinjewadi and its written with the same perspective.

  5. # ref: "And to think Mr. Karandikar saying 3200 was a very inexpensive rate, jsut a few months ago. You can even see his last blog post about another township in Hinjewadi and its written with the same perspective."

    Sorry to hear about the delayed possession of your flat!

    I didn't get you right about me saying '3,200 a very inexpensive rate'!!

    It must be about Paranjape Schemes' Blue Ridge or Kumar Properties Megapolis. Right?

    First, i can be wrong. Second, you can disagree with me.

    I feel, you are pointing out the change in my thinking - my opinion about the rate. Right?

    Yes, i agree with you. You are absolutely right.

    With times, not only my opinion about the property rate but even the parameters about the location and the project have also changed!

    For example, now i give more value to the execution than the concept of the project. Because, getting possession of your flat is no more certainty. Right? You yourself is facing this situation so you know the consequences. And i value your expectations and interests than the rosy promises.

    However, i find it illogical to say that "builders days are numbered" so these are "better days for buyers"!

  6. good to read your response and proper at that. I didn't mean literally that the builder's days are numbered.
    What I meant was with the recession staying here for some time, this is going to be a buyer's market and not seller's market anymore. The tide has turned but it'll be a little while before we can actually see the changes. With IT jobs suffering, productions industry going in cut-backs, the housing industry has to suffer for lack of buyers or increased number of re-sales.
    All these factors combined will dictate the market sentiments. Hence, this is going to be a buyer's market for a while. And I think this is a good thing to happen.

  7. # ref: "Hence, this is going to be a buyer's market for a while. And I think this is a good thing to happen."

    Yes, it is a good thing! I am sure, when we will come out of this recession - slowdown, it would be a different economy. For sure, it will not continue in the same fashion, like a TV serial continues after a commercial break.

  8. Hi Ravi

    I don't see any new posts. Have the rates come down now? I am talking about Aundh and Baner. Could you recommend some good properties - we are concerned about the builders, and their past records.


  9. Hello Ravi,

    I have come to following conclusions:-

    1.) The reduced (highly) frequency of your posts indicate that not all's well with Pune RE.

    2.) Several projects look abandoned. No workers, trucks etc. seen.

    3.) The execution of even big names in Pune RE is under question. Eg. The Crystal Garden of Paranjape has been delayed by almost 2 years, that too according to builder, so are Camellia, Magnolia.
    Similar is the case with Rohan, Kumar etc.

    4.) FD schemes floated by Paranjape, DSK indicate severe cash crunch.

    5.) Current average price reduction (officially) of 20% has given boost for further crash.

    6.) If prices can crash in Mumbai (not talking of Bangalore, Delhi-NCR as you want issue to be local based, though economy is national-global based issue), RE prices in Pune certainly can & will.

    7.) Post Mar 09, when the balance sheets of developers will be declared, we would easily then judge the market more precisely.

    8.) What builders are facing today is the price of their sins committed during past 3-4 years & they absolutely require no sympathy. This is what happens when greed overtakes profits & business is reduced to money sucking enterprise.

    I would like to post a simple question to you:-

    Why is PBAP being so adamant to crash prices even when it knows that the market demands it & they have no other option but to accept that they no longer can make 300%+ profits? Aren't they behaving like Pakistan Foreign Ministry, continously flip-flopping, LK Jain being their spokesperson (more than President)?

  10. First of all, you have a very interesting blog Ravi, and it's very helpful for property buyers.

    We are looking to buy a property in Baner-Balewadi area - we liked Supreme Palms. The rate they are quoting is 3600 / sq ft. They say parking and registration are extra.

    1. What is the likely registration charges for a 52 lac property in Pune?

    2. I thought they were not sposed to charge for parking - am I right? How do I fight for my rights?

    3. Is 3600 a good rate in the given market condition, for that propoerty ( it comes with all fittings in the bathrooms and kitchens - so no extra expense there)

    Please help. All comments, feedback, advice and suggestions are eagerly awaited.

    Thank you

    - Tina

  11. Tina,

    Supreme Palms current rate is Rs.3,300 p.sft. if you buy outright. Parking/MSEB extra.

    Just be a little careful and do some research.

    Having said that, I believe Supreme Palms is a premium project in that locality.

    In fact, bang opposite to Supreme Palms you have Comfort Zone by Aditya Shagun and they are quoting Rs.3,100 p.sft! :-)

    Quality of construction of Supreme is any day better than Comfort.

    Good Luck.

  12. I have some suggestions as to how realty prices can be reduced , I hope the finance minister reads this rather than handing out sops to greedy builders who any which ways are not goin to pass on benefits to buyers.

    1. Stop NRI investment in residential properties in major cities (mumbai,pune,etc)
    2. Stop indian investors from investing in apartments who any which ways spike up prices and then sell it. If a family owns one house then disallow them from investing into another house just for INVESTMENT purpose.
    3. Any FII investment in residential projects should be locked in for 7-8 years rather than 3 years, given the long duration most of the FII wont invest.
    4. What all this will do is leave the builder with no money to construct houses. And he would have to start taking money from people like you and me to construct a building. As there will be no speculation only genuine buyers would be able to buy houses and this would keep property rates in control.

    If the freakin government took these steps then they won't have to provide sops etc, people would get affordable housing and genuine customers would again start buying houses at rational prices.And this would stimulate the economy which the idiot government is trying to do. (Although i support the congress but sometimes I feel that they should start thinking smartly and help normal people. Some arm twisting of the builders is required as they have been given a free hand uptil now. But then the congress gets its funding from the builders for elections so this is never gonna happen)

  13. Hi All,

    We bought up a flat in Comfort zone, Balewadi,Pune. We booked the flat in month of December 2007 and builder assured us to give the possession till March 2009. This construction is build by builder named Aditya and Shagun developers.We applied for a home loan to HDFC bank, as we're abroad, we gave power of attorney to my father to process the loan. In the process of loan sanctioning there was a delay of about 1.5 months (as the builder was dependant on the bank for the loan money), during this the builder forced us to complete the aggrement process, which we did . We paid 94 % of payment out of 53.06,000 /- after execution of agreement i.e. by end of June 2008. It is January 2010 now and we are asking for our possession of the house (which the builder was suppossed to give in the month of March 2009) Buildr refused to give possession & is demanding Rs 89,000 /- as a penalty towards delay payment in loan sanction period , they are not giving us anything in writing and also not ready to give us the possession without paying the amount (all is in verbal communication done by the builders appointed sales person). They have given physical possession to other flat holders and builder is telling that we will not ask you to take the possession until completion certificate is received from the corporation . In the agreement it is mentioned that after 24 months from the date of agreement the builder is responsible to pay 9% delay charges . The date of agreement is 29 th April 2008 .

    Does anyone in this forum encounter the same problem?

    Can anyone please suggest some action against the builder or what steps should i take ?

    Thanks and Regards,

  14. We are staying at one of the upcoming location of Pune Called Baner Road at Comfortzone by Aditi Builders of pune, in last one year of possession there are 7 robberies that have taken place in Comfort zone complex, All the robberies are generally taken place in night time, the robbers have very good idea of the general interior plan of the house, we had robbery at our house on 28th April 2010 midnight when we were in Mumbai and were leaving for outstation for vacation, we had to urgently come back and rush to Police station were in the support from pune police was not that good, we had to pressurize them to take up the FIR. the police investigation dint even take up the finger prints or any inquiry with the Rakshak Security agency thats place in our society, therefore we had to call up with Urgent society met up and ask ppl about there problems regarding the security of Comfortzone, we all at the time of possession had to pay one year maintenance to the builder which include the security charges also,

    The standstill question that comes to all the people staying at Comfortzone complex in Baner Baliwadi road Pune is are we in Comfortzone with are Families ????? Can we leave back our kids and family at home safe and go to work ??? Can we plan a vacation ?? is police going to change there attitude and get in to investigation and control this robberies happening ?? Can we thing its safe to live in Pune ??

    Shweta K

  15. Once more discussion thread for Comfort Zone, Balewadi