2 bhk flat in 43 lakhs at ShivtirthNagar on Paud road!On Saturday, July 12, 2008, Pethkar Projects opened the booking of O and P wings of Samrajya - Balwantpuram. Booking rate for these wings was Rs. 4,000 sq.ft. On Sunday, as per the policy, property rate was increased by Rs.100. On Monday, real estate rate at Samrajya - Balwantpuram was Rs. 4,200 per sq.ft.
The builder, Pethkar Projects, was sure about the response because they had the data base, collected over the last 4 months. On March 2, 2008, the day Samrajya - Balwantpuram was launched, property rate was Rs. 5,600 per sq.ft. and flats were big - 2 bhk flat was 1,200 or 1,250 sq.ft. and 3 bhk flat 1,450 or 1,500 sq.ft. Because of the rate and the size, many people who visited the site, found out that flats on offer were not fitting in their budget.
So, Pethkar Projects reduced the size of flats in wing O and P. Now, the saleable area of a 2 bhk flat is 961 or 974 sq.ft. and of 3 bhk flat is 1420 or 1456 sq.ft. Along with the size, Pethkar Projects also reduced the property rate. O and P wings were launched at an affordable property rate of Rs. 4,000 per sq.ft. At this rate, a 2 bhk flat fits into the budget of 42-43 lakhs and a 3 bhk in 62-63 lakhs. Pethkar Projects send the emails to those who had that much budget and on July 12, released the launch ad in the local Marahti daily Sakal. Result was, on Saturday, people came not to inquire but to book the flat at Samrajya - Balwantpuram!
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