Pune Mirror - Wakes you up!:Aditya Dev has written a story on the front page of Pune Mirror, Wednesday June 18,2008, about the fight between the Defense officers who bought flats in Nyati Enclave at Mohammedwadi, builder of the project Nitin Nyati of Nyati Group and Pune Municipal Corporation. We can learn very important lessons from this story.
1) Actual execution of the project may not be exactly as per the conceptual presentation:Aditya says 'defense officers feel cheated of their hard earned investment'. The reason is - "the rosy picture painted by marketing agents about the project is nowhere close to reality."
What we can learn from this is - we have to keep in mind that there may be some difference in the conceptual presentation we see at the time of the booking and the actual development. Builders inform us about this possibility in the brochure of the project. I am sure, you must have seen the note printed on the brochure. Generally, it reads like this:
The contents of this brochure are purely conceptual and have no legal binding on us. The developers reserve the right to amend the layout, number of floors, number of flats, elevation, colour scheme, specifications and amenities.Generally, this note is printed on the last page or on the second last page of the brochure. On the website, you will find 'disclaimer'. If the website is well designed, a link to disclaimer page is given on the home page. Please read the disclaimers of Kumar Properties' Megapolis and City Group's Amanora Park Town.
Land, drinking water and road:According to Aditya, residents of Nyati Enclave, 300 families of defense officers, are fighting since 2 years for the 3 reasons,
1) Huge chunk of open space doesn't exist in reality
2) No approach road
3) Terrible water supply
We all know that these are the fundamental issues. We have to deal with these issues in any real estate project in and around Pune. We can say, less in some projects which are in Pune than the projects which are around Pune. That's why people are happy to pay Rs. 6,000 per sq.ft. for the project in my neighborhood on Paud road in Kothrud, in Pethkar Project's Samrajya - Balwantpuram!
However, good news is, you can deal with these issues. But first, you have to accept that you are buying a concept. There are possibilities of changes while executing that concept. Our experience tells us that when we become aware about any possible danger, we start finding ways to deal with it and mostly we are successful.
Conversation and subscription:We are not finding ways to get the same size of the layout, ample water supply and the proper approach road but we are fighting for safe, happy and prosperous life for our family.
In this fight, subscribing and taking part in the conversation by posting comments on Ravi Karandeekar's Pune Real Estate Market News Blog, forwarding this post to your 10 friends and following me on Twitter may prove useful to you.
Because, i am not blogging to sell the flats. I am blogging to assist you to have less complicated and more simple family life. That's why, we will talk about other lessons we could learn form Nyati Enclave incident in the next posts.
1) Fool who purchased flat in pune..(!)
2) How to differentiate between a good builder from the bad?
3) Be a smart property buyer.. ask your builder for the CIDC-CQRA Certificate before booking a flat
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