Wednesday, October 8, 2014

Trade your child for a 2 BHK Flat with a car park!

Gokhale Constructions opens bookings of 2 BHK Flats in Waves at Wakad!:

Pricey Kala Khadak, Wakad:

At the entrance of Waves at Wakad, one of my readers told me that the launch property rates are too high. Higher than the current market rates in Wakad.

"Why high? Is it more luxurious?," I asked.

"Don't know! No branded specification. No show flat. Not many amenities. Nothing to justify the price of 5,500 - 5,700!," said my reader.

"Except one thing - location," said my reader's wife.

"Really? I didn't know that Kala Khadak is a premium location! For me this is a down market neighbourhood in Wakad. Convenient - yes. Premium - certainly, not," I said.

"I was talking about the same - convenience. Near Dange Chowk. Near Hinjewadi," my reader said and started his bike.

A Bearer Cheque Without Signature:

Curious to see the property price list, I started walking towards the pandal. But Mr. Vishal Gokhale, Chairman & Managing Director, Gokhale Constructions ( saw me and invited me to have a look at the amenities. The landscaping, synthetic lawn, stage, waterbody, children's play equipments and all were very well done.

"This is safe for the children," pointing at the mat laid in the children's play area, Mr. Vishal said.

"Yes. I like your style. Amenities are always ready at the launch," I said.

"You know? All this was done in only 20 days," Mr. Gokhale said.

"But no sample flat! Why?," I asked.

"No space. Construction will start immediately. Possession is in 2 years," Mr. Gokhale said.

"Are the plans sanctioned?," I asked.

"Almost. Except the signature. Agreements may start by Diwali," Mr. Vishal said.

"Good for all!," I said.

Real Estate Brand & Bakra:

I went inside the pandal only for the property price list. Otherwise, I was done with Waves at Wakad.

"Majority want to know only prices," while giving away the price list,  a sales executive said.

"Because, majority knows that Gokhale Constructions is a good builder!," I said.

"You know? Most of them think that we are that old - Gokhale builder - from Chinchwad!," he said.

"What a silly mistake! You are so famous on Facebook!," I said.

"True! Is Facebook blocked in most of the IT Companies in Hinjewadi?," he asked.

"So what? You put so many hoardings. Release full page ads & news stories in Sakal. You launch 9 projects in every Navratri Festival. You are a big brand in Kothrud," I said.

"Yes! We are. At Pirangut & Donje too. You know what? A few minutes ago, a child recognized our Chairman & M D and took his signature!," he said.

"WoW! IT Guys from Hinjewadi can learn a lot from that child," I said.

"Yes!," he said.

Puzzle of Parking:

"WoW! A 2 BHK Flat from Rs. 58.25 to 71.70 Lakhs!!," looking at the property price list, I said.

"Land price keeps on changing according to location. The quality & cost of construction remains same. At price is exorbitant," said someone and introduced himself as construction incharge.

"Yes! Nearly, 50 per cent out of these 5,500 will go for land. Right? I always wonder how can you manage to construct the project & earn profit in the remaining 2,250!," I said.

"Yes! That's the challenge!! You know our construction cost is above 2,000!," the construction incharge said.

"OMG! You mean to say that real estate is a good investment but an unprofitable business?," I said.

"Yes! If you don't manage it well. Time - construction time - plays important role in earning or eroding profit. So, efficient execution - is very important. And for efficient execution - you need funds - funds come when you have good number of bookings," the construction incharge said.

"But bookings depend upon property price. Right? Aren't these prices on the higher side? Unaffordable for majority," I said.

"If you consider our cost of construction - you will understand that these prices are not high! For example, we may have puzzle parking system. Which is more expensive than normal mechanised parking. We have to spend a lot to design column & beam less RCC structure for the puzzle parking system. It will substantially add to the construction cost of the project. And we have no choice about it. PCMC development rules about parking, side margin & strata of the land dictate this type of a parking. In two phases, we will have approximately 175 flats. So, 175 carparks is a must," the construction incharge said.

"But, besides unproportionately large terraces -  you are charging 5 lakh for infrastructure - separately!," I said.

"That's what I told you! Isn't it?," the construction incharge said.

You know what? I have come to one conclusion.
Petrol gives you power to dominate the world economy.
Whereas, a car - which runs on it - bankrupts / corrupts it's owner.

At Waves at Wakad you can live without a car.
But, PCMC & the builders won't let you do so.

Infrastructure charges 5 lakhs!
You know?
5 lakhs is the cost of a wedding at Orchid / VITS Hotel at Balewadi.
And an EMI + petrol & maintenance of a car - is equal to the cost of raising a child!

It means that, it's not about a car park.
It's about a bedroom. Your master bedroom.
The PCMC & builder are invading our privacy.
They are taking away our freedom of reproduction,
Our freedom to live a life as we wish.

Now, you will understand the meaning of the visual shown in the ad of Waves at Wakad. A young man is spoon feeding a young lady.

What else can a poor fellow do?
When you submit yourself to a financial pressure put on you by a local government - PCMC - & the builder - you volunteer for compulsory sterilization.
You lose your powers to reproduce.
Become unable to give birth to a child.
To compensate your inability - you start treating each other as a child.
Feed each other with a spoon!

Without any embarrassment - you tell your friends - we have embraced luxury!
We have traded our child for a 2 BHK Flat with a car park in Waves at Wakad.

Does this make sense?
Please, share your views in the comments.

Contact Waves at Wakad Pune:

9225 999 000

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1) "No TV in Living Room" Home @ Baner!

2) Property Prices at Pride World City Pune

3) What!? Is Landson Realty's 'Wood County' an Illegal 'Collective Investment Scheme'?

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  1. Very good article which gives clarity to customers while booking flat in this project... Thank you Ravi Sir,, :)

  2. Hello sir, i have booked a flat in waves. Is it a good project to invest in wakad??

  3. It is almost 9 months from the Launch of Waves of Wakad, but still construction is not yet started. Any body know about its Legal status, I have booked the flat in July'15, however willing to cancel the booking if there are issues in Legal things about this project/Land.

    1. Demand written answer / explanation (with proof) from the builder, Uday! If you decide to cancel the booking - demand compensation. Have a look at this format prepared by Grahak Panchayat Pune -

      Dear Consumer, a lot of complaints are coming to Akhil Bhartiya Grahak Panchayat for the reason of non refund of booking amount by the builder.
      Pl go through the format (This is format and you have to prepare notice as per this and send it to builder and keep one copy with your self. Please not that We are not taking any legal responsibility you have to take your own responsibility)

      If any flat buyer wants his booking amount back due to his own wish or due to builders problem then following type of notice to be issued by flat buyer to the builder on his own
      ( without lawyer ). Type it and send by speed post or by register acknowledge.

      Format of Notice

      Name of flat buyer and his complete postal order


      Subject: Refund of booking amount and compensation

      Dear Sir/Madam,

      I have booked flat in your scheme ........... located at ............ having flat no........carpet/built up / saleable area of ......... sqft/sq.m on .............
      and the rate of flat was fixed to Rs.......... per sq.ft. and total consideration was fixed as under

      Flat cost :- Rs .........
      Parking - Rs........
      Society charges Rs ......
      Legal charges Rs.......
      Electricity charges Rs...
      Infrastructure charges..
      Club charges Rs .....
      One time maintenance charges Rs ......
      Other charges Rs .........

      And I have paid total Rs................. As under :-
      S.No. Amount Date receipt no.

      1. 500000 01/03/2013
      By cheque/cash

      Total Rs...........

      After payment you have made/not made MOU/Agreement for the said flat.
      As per the verbal/written promises/advertise given by you the work was suppose to start by date......... and to be finished by date ........
      Also as a per pre launch offer you are suppose to start construction as per the sanctioned plan and layout by the Corporation/Collector /Town planning.

      Or you have not taken sanction of Corporation/Town planning for start of project. No plan and layout has been sanctioned by the competent authority.


      I am not interested to go ahead with the project for ................. reasons.

      The construction has not been started or started but it is in uncompleted form since last ........ months.

      Hence you are requested to refund my entire amount along with 18% interest from the date of payment. Also you are liable to pay compensation of increased flat cost as i have to book flat with another builder and the booking cost is Rs ....... per sq.ft. i.e. increase of Rs ...... per sqft. Hence you are liable to pay me Rs........ As increased cost charges.

      Hence within 15 days from receipt of this notice refund my amount as under

      1. booking amount Rs..
      2. 18% interest amount on the above booking amount Rs.....
      3. Escalated cost I.e. difference of flat cost Rs......... for ......... sq. ft. as compensation
      4. Refund of legal expenses Rs......
      5. Mental harassment charges of Rs...........
      6. Refund of cash amount paid for ........

      Total Rs..............

      If you fail to pay the above amount within 15 days then I will take appropriate legal action against you at your cost. Also I will file FIR as per IPC and as per MOFA act against you

      Thanking you

      Yours faithfully

      Name ........

      Copy to
      The president Akhil Bhartiya Grahak Panchayat
      ...... As per the advice given by you I am writing this notice and further you will guide me if required to take further steps.