Tuesday, October 17, 2017

DSK keeps on threatening & emotionally manipulating Fixed Deposit Holders

Thanks to a deafening silence of Economic Offences Wing (EOW) of Pune Police, Securities and Exchange Board of India (SEBI) and Stock Exchanges!







Pune-based DS Kulkarni group that had defaulted on repayments to thousands of investors is still trying to buy more time.

In fact, Deepak S Kulkarni, the group promoter, continue to promise several things to investors.

This includes promise for repayment by March 2018 and also threat to commit suicide if investors file a first information report (FIR) against him.

However, neither Mr Kulkarni nor DS Kulkarni Developers Ltd, the group's listed unit, is ready to reveal source of this funding.

In fact, D S Kulkarni Developers is mandated to update stock exchanges about every price sensitive information.

However, there is no update from the company on BSE or NSE websites.

Has DSK managed to find a source from where to pay depositors?

That would be a significant development and it is mandatory for a listed company to inform shareholders of any significant corporate development.

If DSK does not have the money to pay, it is simply misleading its shareholders.

One would expect the market regulator Securities and Exchange Board of India (SEBI) and stock exchanges to question DSK about these statements but they are silent.

Read more at www.moneylife.in - DSK Defaults: DS Kulkarni continues to promise repayment without revealing source of ‘funding’; SEBI and exchanges keep mum

Maharashtra Government's Paripatrak about "Effective Implementation of MPID Act:




Maharashtra Protection of Interest of Depositors (MPID) Act.





MPID Act 1999 in Marathi - Android App on Google Play

Related Stories:


24) DSK F D Holders v/s DSK Flat Buyers - Who will win?

23) Flat buyers will now be covered in case builder goes `bankrupt'

22) डीएसकेंवर कारवाईची शक्यता.......

21) आमिष दाखवणाऱ्या संस्थांवर पोलिसांची नजर

20) What actually happened at DSK Anandghan flat owners meeting on 21st September 2017

19) Breaking News! Flat owners takeover DSK Anandghan!!

18) Flat Buyers in DSK Projects - End This Fiasco Now

17) खांदेपालटानंतर अवघ्या चोविस तासात डी. एस. कुलकर्णी डेव्हलपर्सला नोटीस, डिबेंचर धारकांचे पैसे तातडीने द्या अन्यथा ………

16) डीएसके, फ़डणीस, टेंपलरोज गुंतवणूक घोटाळे म्हणजे सामूहिक गुन्हेगारीचा प्रकार ......

15) डीएसकेंच्या दिवाळखोरीच्या धंद्यांना बँकांचीही साथ

14) डीसकेंना लोकांचे पैसे परत द्यायची इच्छा आहे का ?

13) डीएसकेंच्या गुंतवणूकदारांचे आता काय होणार?

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

11) DSK in turmoil: Pune investors want builder’s passport seized

10) Why DSK must be prosecuted under MPID Act

09) Probe DSK under MPID Act

08) Vijay Kumbhar exposes DSK of D S Kulkarni Developers Ltd

07) Sonu Tuza DSKvar Bharosa Nay Kay

06) DSK is struggling to get his ducks in a row

05) Investing in DSK Dream City Pune

04) Is D S Kulkarni Developers offering 25 per cent discount?

03) ROFL! DSK's Master Plan for Home Loan Free Life!!

02) Pune Home Buyer, Hurry Up! Make a Fool of Yourself!!

01) April Fool

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Sunday, October 15, 2017

The builder files a police complaint against the residents of Aarohi at Sus

The fight between Teerth Realties and the residents of Aarohi at Sus continues:


Aarohi at Sus
Space for Tennis Court
Space for Tennis Court
Space for Parking

The builder of Arohi society has filed a complaint against its residents, alleging that they damaged his construction material worth Rs 9 lakh.

While the fight between the builder and the residents is not new, the complaint filed on Friday has left citizens in a fix.

They are claiming that the builder has intentionally filed this complaint as they are fighting for basic amenities the builder is yet to provide them at the society.

But the builder insists that the residents have threatened and beaten up his employees as well as damaged his property.

Residents of Arohi society have long been at loggerheads with the builder over the two vacant plots in the society which, according to them, had been allotted for parking and a tennis court.

“The builder had promised that he would set up a tennis court and parking space in these two empty plots. Now, he is planning to sell off these plots for construction. Hence, to block the plots, he ended up dumping all the construction material there. But it was becoming difficult for us to stay in all this filth. So, we decided to clean the area. All the residents participated and cleaned this patch,“ shared Manish Hissaria, one of the residents.

On his part, builder Vijay Raundal, owner of Teerth Builders, claimed that it was the residents who were harassing him instead. “We got an increased FSI for the buildings. I am constructing the buildings based on the previously approved plan. But these residents do not want this to happen.So they are running from pillar to post to ensure that I am not able to go ahead.........

Read more at - Clean-up drive at home prompts cop complaint

Related Stories:


1) Struggling for Survival at Sus

2) SUS RD LOCALS FILE POLICE COMPLAINT

3) FAILED FIGHT WITH FIRE LEAVES BUILDER FACING RESIDENTS’ IRE

4) Sad story of a son who purchased a flat in Sus

5) How to deal with your childish and selfish parents - Tips for Hinjewadi IT Engineers...

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Saturday, October 14, 2017

Pune real estate market is in a phase of prolonged slowdown - CRISIL

Reasons for slowdown in Pune real estate market:
1) Fear of job losses in IT/ITeS sector
2) No significant creation of fresh jobs
3) Expectations of prices coming down keeping consumers on the edge
4) Confusion over the GST benefit


Pune real estate market is in a phase of prolonged slowdown - CRISIL

According to ratings agency Crisil, the realty market is in a phase of prolonged slowdown.

While it did not give city wise decline, the agency said absorption of new homes in top 10 cities (Pune included) has slipped by 8% each year since 2011.

The agency said one of the major reasons for this is investors staying away from realty purchases as prices have stagnated over the last few years.

It said people are also preferring to stay on rent.

“The sector has witnessed a decline in area booked and area launched over the last few years. Developers have been majorly focusing on mid-category luxury premium housing projects. This has created a wide gap in demand-supply dynamics, resulting in pent-up demand for affordable housing units and a huge unsold inventory of unaffordable units across most micro markets,“ Crisil said in its report.

In a sad news for those looking for a respite, the agency forecasted that “any respite is unlikely in the near future“.

Read more at - Developers go on an overdrive to woo prospective customers

Related Stories:


1) Slowdown in Pune real estate market to continue

2) Some builders in Pune haven't gone out of business yet

3) Flat buyers will now be covered in case builder goes `bankrupt'

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MahaRERA orders Runwal Homes to pay back Rs 1.94 crore with interest to a flat buyer

Runwal Homes to challenge the order in the Bombay High Court -
'Since the sale agreement was executed in 2014,
MahaRERA did not have jurisdiction
as the Act came into effect in May 2017':


MahaRERA

Complainants Avinash Saraf and Neha Duggar Saraf, approached the regulator after the developer did not hand over possession as stipulated in the sale agreement.

They paid Rs 1.74 crore between October 2014 and January 2017, to book a flat in Runwal Greens project in Mulund (West).

They said the flat was to be given to them on or before August 2016 as stipulated in the sale agreement. But the developer failed to do so.

The complainants said they paid 97% of total consideration of the flat.

They further contended under subvention scheme promoted by the developer, Runwal paid interest up to August 2016 under the tripartite agreement.

Thereafter the bank recovered instalments with interest from the complainants.

The Sarafs demanded the amount with 21% interest as compensation.

“When the complainants showed their willingness to cancel the booking, the respondent (Runwal) offered to refund amounts received, by its e-mail dated 1.03.2017. But the complainants insisted the developer pay interest at the rate of 21% and therefore, the matter could not be resolved,“ said the order.

“The complainants are entitled to get consideration amount of Rs 1,74,17,986, Rs 8,86,800 as stamp duty and registration charges and Rs 11,00,000, which is the amount of interest paid by complainants to bank during 30.09.2016 to 31.07.2017 with interest,“ said the order.

Read more at - Rera regulator orders builder to pay Rs 1.9 crore to buyer

Related Story:


1) Darode Jog faces penalty for delayed possession of Padmanabh at Moshi

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Friday, October 13, 2017

Baner Balewadi Residents are Angry with Pune Municipal Corporation

The residents of Baner and Balewadi - distressed by an ongoing water supply crisis - have refuted a statement by Pune Municipal Corporation (PMC), which claimed that it had sent letters to residents asking them to attend meetings to discuss the problem:


Sangharsh for Development of Baner Balewadi

On Wednesday, the Bombay High Court lifted the stay on granting occupancy and commencement certificates to new constructions and building projects at Baner and Balewadi.

In its arguments, the PMC told the High Court that residents' associations in the area had not turned up for meetings that were called to discuss the water problem.

The statement has sparked anger among the residents.

“We have sent hundreds of letters to the PMC about the water crisis - something that has been on for the past 10 years. But instead of responding to our requests, the civic administration said societies had not turned up for discussions. This statement lacks logic. The civic administration must first understand that the water problem still persists in Baner and Balewadi,“ said Sarang Wable, of the Baner Balewadi residents' association.

Rajendra Sinha of the Aundh, Baner, Balewadi Vikas Manch said residents' associations were now planning to file a petition before the court on the water problems. He said the petition would name housing societies in the area as co-petitioners and demand the PMC compensate them for money spent on purchasing water tankers until now.

The petition would also demand a waiver of property tax and a stay on building permissions until water problems were resolved, Sinha said.

Read more at:


1) Anger in Baner, Balewadi as PMC claims water meeting invites went unanswered

2) HC'S LIFTING OF CONSTRUCTION BAN AT BANER-BALEWADI NOT WELCOME - Locals say PMC distorted facts, to file RTI for clarity, compensation

Related Stories


1) Bombay High Court lifts ban on issuance of commencement and occupancy certificates for housing projects in Baner & Balewadi

2) Pune: Going ‘smart’, Baner-Balewadi lacks basic infrastructure

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Darode Jog faces penalty for delayed possession of Padmanabh at Moshi

Maharashtra Real Estate Regulatory Authority (MahaRERA) issues order against Darode Jog Homes


Mr. Anand Jog & Mr. Sudhir Darode of Darode-Jog Properties at the press conference of Padmanabh at Moshi

1) Darode Jog has to pay Rs 17,44,291 to Pravin Hiwale and Rs 23,03,630 to Anand Mutha with interests - marginal costs of funds based lending rate of SBI at 8.15% plus 2% with effect from May 1.

2) Darode Jog has to pay compensation to the complainants at 9% from the date of respective payments till April 30, 2017.

3) Darode Jog has to pay the complainants Rs 20,000 towards the cost of lodging the complaints.

The order states that Hiwale had signed the sale agreement with the developer on October 10, 2014.

The developer had agreed to deliver the possession of Flat no B2-808 on or before December 2016 or within two-and-a-half years from the date of agreement, whichever is later.

In the case of Mutha, the sale agreement was done on November 28, 2014.

Hiwale was supposed to get possession of the in April and Mutha in May - 2016.

The developer, while registering the project with MahaRERA, mentioned the date of completion as December 31, 2018.

Click here to read more

Related Stories:




2) A Visit to Darode Jog Properties' Liviano at Kharadi

1) Are Pune property buyers so dumb?

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Thursday, October 12, 2017

Bombay High Court lifts ban on issuance of commencement and occupancy certificates for housing projects in Baner & Balewadi

In the last 6 months, after Bombay High Court issued the stay order,
no individual flat-owner or housing society in Baner Balewadi
came forward with the complaints about water shortage!



The Pune Municipal Corporation (PMC)'s advocate said it wrote letters to housing societies, asking their representatives to attend meetings but nobody had turned up.

“If there is any violation, we can take action. I'm waiting for the last six months. Water is something you cannot stay without,“ said the Chief Justice (CJ) Manjula Chellur.

“We are surprised to hear that none of such meeting (sic) were attended by (housing) societies or occupants. If there was really a water problem, as severe as expressed by the petitioners, the persons affected would have approached this court,“ the judges said in their order.

They - Chief Justice (CJ) Manjula Chellur and Justice Nitin Jamdar - added, “We cannot totally shut our eyes or opine that there is no water problem. It may not be to the extent expressed by the petitioners but there is bound to be water problem with so many flats coming up."

The court was hearing a public interest litigation (PIL) filed by corporator Amol Balwadkar.

Earlier (in May 2017), the court had restrained the Pune Municipal Corporation (PMC) from doling out these - commencement and occupancy - certificates - to the new buildings, while hearing the PIL.

The petition stated that over 200 societies were facing problems in securing basic amount of water - 150 litres per person - which is provided by the PMC on daily basis.

The overall requirement is 165 lakh litres. However, the PMC only provided 60 lakh litres, which is far from adequate.

The report also stated that it had supplied 21,533 water tankers in these areas between 2015 and 2016.

Apart from this civic body help, the residents had arranged for 1.40 lakh tankers at the cost of Rs 12 crore in the same duration to replete their supply.

After hearing the case on Tuesday, Chief Justice Manjula Chellur and Justice Nitin Jamdar asked for formation of a committee to keep an eye on water supply and the availability scenario, a report of which has to be submitted every two months.

"Let us see how this committee works,“ said the CJ, adding that the PIL would be kept pending.

Read more at:

1) Bombay high court vacates stay on occupancy certificates in Baner, Balewadi

2) Court lifts ban on construction for Baner, Balewadi

Related Stories:




Maharashtra Times 11.10.2017

6) The tragic case of Baner Balewadi Flat Owners

5) TruSpace Prima Domus - My first 2 BHK Flat at Balewadi near Hinjewadi, Pune!

Badi Ajeeb Hai Balewadi! Bade Ajeeb Log Hain Hinjewadi IT Professionals!!


4) Baner, Balewadi Residents Up In Arms Against PMC

3) Baner-Balewadi in HC over PMC ‘Discrimination’

2) A visit to Rucha Vantage, 2.5 & 3 BHK Flats at Baner, Pune

1) Sad story of a son who purchased a flat in Sus

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Wednesday, October 11, 2017

Slowdown in Pune real estate market to continue

According to Cushman & Wakefield, Knight Frank & Gera Research Reports:



Demonetisation, Real Estate Regulatory Act and GST combined has had a telling effect on new property launches in the city.

As per a study by Cushman & Wakefield (C&W), real estate services firm, Pune saw a decline of 28% in property launches in the affordable segment (definition of which has changed).

Overall, the city has witnessed a dip of 41% in new launches.(see box)

This the third such report that points to a slowdown in new property launches.

In July , a study by property consultancy firm Knight Frank had shown a year-over-year decline of 9% in new home launches in the first half of 2017 and a sequential fall of 30%.

Later, home developer Gera's research report pointed to a similar trend in its half-yearly survey.

The report had shown that new unit launches fell by 26% in the period between January and June 2017 over the same period the previous year.

The agency - Cushman & Wakefield - also predicted that the scepticism to launch new projects will continue for some more time.

Click here to read more

Related Stories:


1) Flat buyers will now be covered in case builder goes `bankrupt'

2) Some builders in Pune haven't gone out of business yet

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If you want my advice, feel free to call me on 919860044110.  First 3 minutes are free! And for more than 3 minutes - pay as you wish - you decide the value of my advice.

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Tuesday, October 10, 2017

Flat buyers will now be covered in case builder goes `bankrupt'

Amended Rules Give A Say To All Stakeholders - including the flat buyers:



The Insolvency & Bankruptcy Board of India (IBBI) has amended rules to mandate that any resolution plan for a company has to explicitly state how it has dealt with interests of all stakeholders--a move aimed at protecting the interests of home buyers of real estate players such as Jaypee Infratech and some of the entities of Amrapali Group.

The revised rules were notified by the regulator for insolvency and bankruptcy proceedings last week and will ensure that banks and other creditors do not get away by protecting their interests at the expense of others who are impacted by the action. Banks are part of the creditors' committee, the key decision-making body after a company is admitted for bankruptcy.

“The change in the rules has plugged a gap as flat buyers are of the view that there is nothing to protect their interests,“ said a lawyer specialising in bankruptcy cases.

Click here to read more

Related Stories:


1) DSK F D Holders v/s DSK Flat Buyers - Who will win?

2) What actually happened at DSK Anandghan flat owners meeting on 21st September 2017

3) Breaking News! Flat owners takeover DSK Anandghan!!

4) Some builders in Pune haven't gone out of business yet

5) Insolvency rules tweaked, home buyers get cover

6) Treat flat owners at par with banks under insolvency law: Assocham to NCLT

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For more than 3 minutes and up to 30 minutes - pay as you wish. After the conversation - transfer the money to my bank account. As much as you wish. From a few hundred to a few hundred thousand crore of U S Dollars or Indian Rupees. Here are my bank account details:

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Bank of Maharashtra.
Savings A/c no- 20047674794.
Branch- Bajirao Road Pune MICR Code 411014010.
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Monday, October 9, 2017

Some builders in Pune haven't gone out of business yet

PNB Housing Finance Property Expo Pune 2017, organized on 7th & 8th October, proves that some builders in Pune are still in business!



The response was poor. Mainly because of the poor promotion. One sales executive said.

The venue was wrong. The other sales executive said.

Paranjape Schemes rules on Prabhat Road, Bhandarkar Road, Law College Road. Not Kolte-Patil - Solitaire - Pate - Pristine - Siddhashila - ABIL. Some sales executive said.

If HDFC had been the organizer - response would have been better. One more sales executive said.

What is your opinion, Ravi? Someone asked me.

In the current market, how many builders participate in the exhibition is more important than how many people visit it. I said.

Cheer up guys! All of you still have your jobs. Your builders are still in business. What more do you want? I said.

What say you?

Aren't we all worried about the builders in Pune?


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