Friday, August 18, 2017

DSK group’s crisis is likely to affect Pune’s real estate market

City-based real estate blogger Ravi Karandeekar feels that “this is the end of the old era and the beginning of the new regulated real estate industry”.



“With DSK starting the trend of mass booking at the launch of a project or at a special promotional event, he made it a practice of accepting booking amounts without any due diligence,” the Pune real estate watcher said, adding that this practice will now stop.

Well-known RTI activist Vijay Kumbhar said murmurs about a brewing financial crisis at this real estate conglomerate began surfacing about two months ago when he started getting calls during a session at RTI Katta, a public platform where people share their grievances and problems and find solutions by sharing information with each other.

Read more at - Hindustan Times, Pune

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4 comments:

  1. होत्याच न्हवत करणारी माणसे!
    घराला घरघर लावणारी माणसे!

    ReplyDelete
  2. please read this article (कृपया हा लेख नक्की वाचा)
    *********** डीएसकेंच्या गुंतवणूकदारांचे आता काय होणार ? *********************
    http://vijaykumbhar-marathi.blogspot.com/2017/08/Madhuri-Dixit-Conspiracy-Criminal-Enterprise-DSKDL-lavish-Lifestyle-Trump-Towers-Dual-Identities-FD-Forged-Signatures-Investors-Misleading-money-siphoning-Murky-Deals-RBI-Shell-Companies-MPID.html#gpluscomments

    ******** DSKDL public Limited Company or Criminal Enterprise? **************

    https://vijaykumbhar.blogspot.com/2017/08/DSKDL-Criminal-Enterprise-Investors-FD-RBI-Shell-Companies-Money-siphoning-Misleading-Information-Dual-Identities-Forged-Signatures-Conspiracy-Murky-Deals.html

    ReplyDelete
  3. This DSK is just a tip of an iceberg. If you now see in the market, lot of builders have already gone into the shadows. Simply check the number of builders till 2014-15 & now in Pune. DSK was listed one hence so much of coverage is there. But we are already seeing slew of bankruptcy or on verge of bankruptcy in Pune builders, Marvel, KUL, Darode-Jog, Phadnis, Bhujbal, Naiknavare, Vascon etc. while other major builders like Paranjape are also feeling the heat.

    Building for non-end users is sole crux of the problem. Hoarders from Pune , Mumbai were major culprits alongwith IT yedas who were buying anything, anywhere & at any price.
    Now that the bubble has burst, people are seeing the true picture & how large scale manipulation had taken place in Pune real estate.

    More troubles for DSK as BJP MP Kirit Somaiya demands CM to inquiry into DSK's financial irregularities -

    http://www.dnaindia.com/india/report-more-troubles-for-dsk-as-kirit-somaiya-demands-cm-to-inquiry-into-dsk-s-financial-irregularities-2535632

    Don't know why CONgress-NCP are mute spectators on such open loot by builders of innocent investors.

    ReplyDelete
  4. DSK could be tip of iceberg. There are many builders in Pune, Mumbai area as well as in other metros of India who adopt various techniques to achieve their goals. Builders are normally very powerful with abnormal money, muscle power, political influence, lobby in corporation or municipality, battery of lawyers & strong men. They are practically invincible by any one till date even after RERA. Couple of builders told me that if you understand money you understand everything in the world. Government regulations are also not very specific in certain cases. For ex Tenants. There are several tenanted building exclusively built for tenant and builder force them to either vacate or pay as per market rate if they want to buy new flat in redevelopment. Such cases are flatley denied by RERA as it does not handle such cases. The only remedy is again civil court with expectation of any verdict in the next generation. Most of the circulars of Government are for only MHADA tenants, dilapidated buildings & related to only Mumbai area, etc. But no specific GR for whole Maharashtra and no builder believes in any news paper report but demand specific GR by Government. I feel system needs lot of improvement with specific formula for tenanted building redevelopment.

    ReplyDelete