Wednesday, November 15, 2017

Book Dream Home in Just Re. 1

Negotiable Property Prices, Exploitative Terms of Transaction & Interesting Offers in Pimpri Chinchwad:


Negotiable Property Prices, Exploitative Terms of Transaction & Interesting Offers in Pimpri Chinchwad

"No GST Impact" & "MahaRERA Registered Projects" was the theme of Times Pimpri Chinchwad (PCMC) Property Expo, organized on the 4th & 5th November 2017. Which was obvious.

However, it doesn't mean that the builders in Pune have given up "crookedness".

"Saleable Area" & "Loading" is no more. But to mislead the flat buyers crooked builders in Pune have invented "Total Carpet Area" or "Total Usable Space" which is the total of Carpet Area + Enclosed Balcony + Terrace!

There is no more "Per Sqft." rate. Instead of that now there is a "Package" cost. Still the crooked builders are charging "Infrastructure / Development Charges", "Club Membership" and even "Parking Charges"!

"Booking Amount" and "Cancellation Charges" are fraudulent. Some crooked builders even demand - "10% of the agreement value" as a booking amount and "5% - 10% of the agreement value" as the "Cancellation Charges"!

Why is "Booking not transferable"? Just to force the flat buyer to cancel the booking and extort heavy penalty of "cancellation charges"!

Some crooked builders demand 35% of the agreement value at the "Plinth"!

Premiums for floor rise & for garden facing are illogically high.

Maintenance charges are nothing but loot.

The flat buyers do not register their protest against these crooked terms in a property exhibition. They just listen. But it doesn't mean that they accept it.

When you visit the site office - you express your anger about these crooked terms and book only if builder makes them fair. Right?

Please, share your experiences of these negotiations in the comments.


Have a look at some crooked terms I found in this exhibition - along with a spread sheet of approximate property prices in PCMC.

1) Pharande Spaces - Puneville at Punawale:


1) No GST Impact

2) Pay 5 % interest till possession

3) Developer reserves the right of acceptance of booking form

4) Maintenance charges Rs. 5.50 per sq ft on "Total" carpet area for 2 years to be paid before possession + 18% GST (As applicable at the time of possession or on actuals)

5) Legal expenses Rs. 11,600 to be paid before possession + 18% GST

6) Cancellation charges Rs. 2,00,000 + 1% TDS of agreement value

7) Home loan to be taken only from LIC, ICICI, HDFC, SBI, & Axis Bank

8) Payment Schedule -
1) Booking - 9% of Agreement Value + 10% of GST + 1% of TDS
2) On Agreement - Stamp Duty + Registration + 20% of Agreement Value
3) Plinth - 15% of Agreement Value

2) Pharande Spaces - L-Axis at Moshi:


1) Booking Amount 20% of the agreement value

2) Rs. 150 per sq ft premium will be charged for amenities facing flats

3) Stamp Duty + Registration + GST + Loan Sanction Letter within 15 days from booking

4) Payment installments within 7 days from the date of demand letter

5) The booking is not transferable.

6) Maintenance charges Rs. 5.50 per sq ft on "Total" carpet area for 2 years to be paid before possession + 18% GST (As applicable at the time of possession or on actuals)

7) Society formation & legal expenses extra. To be paid before possession.

8) Administration charges towards cancellation Rs 2,00,000/-

3) Pharande Spaces - Woodsville at Moshi:


1) Floor rise from 7th floor Rs. 25 per sq ft

2) Maintenance charges with GST extra

3) Garden facing Rs. 100 per sq ft

4) Booking amount 20% (of the agreement value)

4) Aishwaryam Hamara Chikhali:



1) Premiums -

Premiums will be calculated on carpet area and proportionate area

1) 1st to 5th floor - Rs. 100 per sq ft
2) 6th to 8th floor - Rs. 75 per sq ft
3) 9th to 11th floor - Rs. 50 per sq ft
4) 12th floor - Rs. 0 per sq ft

5) Platinum facing - 1st to 11th floor Rs. 200 per sq ft
6) Gold facing - 1st to 11th floors Rs. 100 per sq ft
7) 12th floor Rs. 0 per sq ft

2) Other Charges - Rs. 3,50,000 / 4,00,000

3) Society maintenance @ Rs. 2.5 per sq ft per month for 2 years at the time of last disbursement

4) Club membership Rs. 20,000 at the time of last disbursement

5) Booking amount Rs. 1,00,000

6) No cancellation charges till 30 days

7) Cancellation charges after 30 days - 5% of agreement value

5) Aishwaryam Melody Akurdi:



1) Premiums -

1) 1st, 2nd, 3rd, & 4th floor - Rs. 75 per sq ft extra

2) Rs. 200 per sq ft extra for premium facing flats

2) Infrastructure charges - Rs. 4,00,000

3) Transfer Fees @ Rs. 90 per sq ft

4) Payment Schedule -

1) Booking Amount Rs. 2,00,000
2) Agreement - 20% of Agreement Value
3) Plinth - 15% on commencement of plinth

5) Cancellation charges - Rs. 75,000

6) Society maintenance @ Rs. 2 per sq ft per month for 1 year at the time of possession

6) Aishwaryam Courtyard 2, Near Sane Chowk-Pradhikaran, Akurdi Chikhali Road:



1) Other charges - Rs. 4,00,000 for 2 BHK & Rs. 4,50,000 for 3 BHK

2) Payment Schedule -

1) Booking - 10% of agreement value (including Rs. 2,00,000 booking amount)

2) Agreement - 20% of agreement value

3) Plinth - 15% of agreement value

3) Cancellation charges - Rs. 75,000

4) Premiums -

1) Platinum facing flats - Rs. 200 per sq ft extra on 'total' area

2) Internal facing flats - Rs. 100 per sq ft extra on 'total' area

3) Floor rise - from 1st to 13th floor will increase by Rs. 25 per floor

5) Maintenance - Rs. 2.5 per sq ft per month for 2 years will be taken 'at the time of final disbursement'.

6) Club Membership - Rs. 30,000 will be taken 'at the time of final disbursement'.

7) DNV Arcelia Ravet:


1) Total Carpet Area in Sq Mt - 59.33 (Flat Carpet + Enclosed Balcony + "Terrace Carpet"?)

2) Payment Schedule -

1) Booking - 2,00,000

2) Agreement - 10% of Agreement Value

3) On Casting of 10th slab - 70%

4) Maintenance - @2.7 per sq. ft. for 3 years at the time of possession

8) Metropolitan Chinchwad - Ready Possession 2 BHK Flats:


1) MSEB - Rs. 1,00,000

2) Infrastructure - Rs. 2,00,000

3) Club House - Rs. 75,000

4) Legal & other - Rs. 25,000

5) Parking - Rs. 3,00,000

6) Maintenance - Rs. 3 per sq ft for 18 months - Rs. 61,938 + GST @18% - Rs. 11,149

7) Payment Schedule -

1) Booking Amount - Rs. 1,00,000

2) Application Amount - 10% of the agreement value - within 7 days from booking date

3) Signing of agreement - 9% of the agreement value - within 15 days from booking date

4) 100% Payment after the agreement - within 30 days from booking date

5) No GST

6) Floor rise - Rs. 50 per sq ft from 4th floor

7) Garden view premium - Rs. 150 per sq ft

8) Property rate - Rs. 6,499 per sq ft

9) Bhandari Unnati Nere:


1) Saleable area (Only for customer understanding)

2) Saleable rate (As per saleable area) - Rs. 3599

3) Less GST Input Credit - Discount per sq ft - Rs. 108

4) Infra Charges - Rs. 2,00,000

5) Legal Charges - Rs. 10,000 to be paid at the time of registration

6) Extra - At the time of possession Maintenance will be Rs. 30,000 for 1 BHK & Rs. 40,000 for 2 BHK for 2 years

10) Wadhwani Constructions Sai Paradise Punawale:


1) Infra charges - Rs. 4,00,000

2) Allotment of 1 car parking is made first come first serve (All rights reserved with builder)

3) Water connection from PCMC for whole project

4) Floor rise Rs. 27 per sq ft from 5th floor

5) Maintenance for 1 BHK - Rs. 48,000 & for 2 BHK - Rs. 72,000

6) Payment Schedule -

1) Agreement - 10%

2) Plinth - 20%

11) Sai Exotique Chikhali:


1) Legal charges Rs. 10,000 at the time of registration

2) Maintenance Rs. 50,000

3) Cancellation charges as per cancellation policy

4) If the agreement is not done within 15 days, booking may be cancel without any notice. Cancellation charges as per "PCMC Rules".

12) Tanish Orchid Charholi Alandi Road:


1) Total carpet area

2) Development charges

3) 1 Year maintenance charges - 1 BHK - Rs. 12,000 & 2 BHK - Rs. 15,000

4) Floor rise Rs. 30 per floor per sq ft - 5th floor onward

13) Legacy Aura Rahatani - Legacy Urbania Punawale - Twin Arcs Punawale:


1) Booking amount - Rs. 2,00,000

2) Cancellation charges - Rs. 50,000

3) Maintenance charges - 1 BHK - Rs. 50,000, 2 BHK - Rs. 60,000, 3 BHK - Rs. 70,000

4) Loan only from our executives

5) Booking will not be transferable

6) Payments as per terms & conditions of RERA

14) Samrudhi Palash & Isha at Kiwale:


1) Infrastructure cost - Rs. 3,00,000 (Includes MSEB, Society formation, Water supply, Parking, Conveyance deed.

15) VTP Bhagyasthan Talegaon:


1) Common area & facility charges - Rs. 3,05,000

2) Total society charges - Maintenance + Corpus + GST - Rs. 26,866 - 31,511

16) VTP Urban Life Talegaon MIDC Road:


1) Common area & facility charges - Rs. 4,15,000

2) Corpus fund - 1 BHK - Rs. 20,000 & 2 BHK - Rs. 30,000

3) Maintenance charges - 1 BHK - Rs. 18,990 - 19,286 GST 18% & 2 BHK - Rs. 28,153 - 29,945 + GST 18%

4) Anti Profiteering Discount of 6.5% on GST

17) GK Dayal Heights Rahatani - 1 BHK Flats:


1) Maintenance - Rs. 40,000

2) Miscellaneous expenses - Rs. 7,000

3) This allotment is subjected to the execution & registration of the agreement to sale within 30 days from the date of this allotment, failing which this allotment shall automatically stand terminated. In the event of termination of this allotment the promoter shall refund the amount so received by the promoter as advance / preferential booking amount to the allottee.

4) The promoter shall be at liberty to the said flat to any third party, after the promoter has refunded the advanced amount to the allottee as provided under the above clause.

5) GST will be paid by the builder as applicable.

18) ITrend Homes Hinjewadi:


1) 1.5 BHK Flat - Original Property Price Rs. 42.72 Lakh - Reduced Property Price Rs. 39.96 Lakhs

2) 2 BHK Flat - Original Property Price Rs. 50.33 Lakhs - Reduced Property Price Rs. 47.09 Lakhs

19) Saheel's Fortune Park Moshi:


1) 1 BHK Flat - Original Property Price Rs. 35.65 Lakhs - Reduced Property Price Rs. 31.63 Lakhs

2) 2 BHK Flat - Original Property Price Rs. 48.63 Lakhs - Reduced Property Price Rs. 42.98 Lakhs

20) Little Earth Masulkar City Kiwale:


1) 0% Down Payment

2) Usable Area?

3) Infrastructure Charges - Rs. 2,50,000

4) Club House Membership Charges - Rs. 1 Lakh

5) MSEB - Rs. 80,000

6) Legal Charges - Rs. 30,000

7) Maintenance Charges for 24 Months - From Rs. 27,180 to Rs. 48,278

8) Society Deposit at the time of possession - Rs. 10,000

20) Shiv Associates Hazel View, behind Shell Petrol Pump, Narayan Nagar, Hinjewadi Chowk, Hinjewadi:


1) Book Dream Home in Just Re. 1

2) Amenities - Water Supply

21) Shiv Associates Madhav at Moshi:


1) No GST, No Stamp Duty, No Registration Charges

2) 2 BHK Flat - Rs. 38 Lakhs Package - Special Offer - Rs. 34.49 Lakhs - Pay just Rs. 3.5 Lakhs & move in your own home

3) 1 BHK flat - Rs. 27 Lakhs - Special Offer - Rs. 24.99 Lakhs - Pay just Rs. 2.5 Lakhs & move in your own home

22) Roshan Group - 33 mile stone at Tathawade near Wakad:


1) Total carpet area?

2) Flat Value - GST Anti Profiteering = Agreement Value

3) Maintenance charges - For 2 BHK - Rs. 2,000 + GST. For 2.5 BHK - Rs. 2,600 + GST per month for 24 months

23) Mangal Shilp UdyogNagar near Chinchwad Railway Station:


1) Ready possession 1 BHK & 2 BHK Flats - Contact - 9326516144

24) Mangal Dhara Ravet Punawale Hanging Bridge Punawale:


1) Ready Possession 2 BHK & 3 BHK Flats - Contact - 9372516144

2) Exhibition discount Rs. 200 per sq ft

3) Society fund - Rs. 50,000 at the time of possession

25) Kushal Swarnali 2 BHK Flats at Chakan:


1) 0 Down Payment

2) 0 Pre-EMI

26) Krushnai Impirio Shinde Vasti Ravet:


1) 1 BHK Flat - Rs. 41.50 Lakhs All Inclusive

2) 2 BHK Flat - Rs. 53 Lakhs All Inclusive

27) Sai Hira Moshi:


1) Spot Booking Discount - Rs. 2.5 Lakhs

2) Floor Rise Rs. 25 per floor after 4th floor

3) Legal charges Rs. 12,000 to be paid by the purchaser at the time of agreement

4) Maintenance charges Rs. 2.5 per sq ft for 2 years on "Carpet" - at the time of possession

5) Booking cancellation charges Rs. 50,000

6) Booking of flat is Non-Transferable under any circumstances

7) In case of change in agreement for name, unit, area etc. - correction deed will be done at the client cost

Pune Property Prices at Times Property Expo 5-11-2017:




Click to view Pune Property Prices at Times Property Expo 5-11-2017:


Photowalk of Times Pimpri Chinchwad (PCMC) Property Expo, organized on the 4th & 5th November 2017:


Empire Square Save up to 16 Lakhs - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Empire Square Chinchwad - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Auto Cluster Chinchwad - the venue of Pune property exhibition - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Auto Cluster Chinchwad - the venue of Pune property exhibition - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Auto Cluster Chinchwad - the venue of Pune property exhibition - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Pharande Spaces - Puneville Punawale - Woodsville & L-Axis at Moshi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Aishwaryam Hamara Chikhali - Aishwaryam Melody Akurdi - Aishwaryam Courtyard Near Sane Chowk-Pradhikaran, Akurdi Chikhali Road, Pune 412114  - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
DNV Arcelia Ravet - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Kingsbury Pride World City Charholi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Metropolitan Chinchwad - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Metropolitan Chinchwad - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Naiknavare Avon Vista Mahalunge Dwarka Chakan - Neelay Talegaon - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Bhandari Unnati Nere - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Wadhwani Constructions Sai Paradise Punawale - Sai Shivam Rahatani -  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Mantra Properties -  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
First City Chakan -  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Sai Exotique Chikhali - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
SKYi Star Town & GrowHouse Bhugan -  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Tanish Orchid Charholi Alandi Road - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Visitors at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Visitors at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Visitors at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Legacy Aura Rahatani - Legacy Urbania Punawale - Twin Arcs Punawale - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Samrudhi Palash & Isha at Kiwale - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Empire Square Chinchwad - Samrudhi Palash & Isha at Kiwale - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Empire Square Chinchwad - Samrudhi Palash & Isha at Kiwale - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Xrbia - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Maruti Ravikiran Wadmukhwadi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Vitthal Empire & Vitthal Capital at Jadhavwadi Chikhali - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Anshul Realties  - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
VTP Urban Life Talegaon MIDC Road - VTP Bhagyasthan Talegaon - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
GK Rose Mansion Punawale - Dayal Heights Rahatani - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
ITrend Homes Hinjewadi - Saheel's Fortune Park Moshi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
ITrend Homes Hinjewadi - Saheel's Fortune Park Moshi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
First City Chakan -  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Little Earth Masulkar City Kiwale - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Ashirwad Landmark - Plots at Kamshet at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Sairung at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Aditya Vivaaz Ravet at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Book Dream Home in Just Re. 1 - Shiv Associates - Madhav at Moshi - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Roshan Group - 33 mile stone at Tathawade near Wakad - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Kushal Swarnali Chakan at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Mangal Vishwa Kiwale - Mangal Dhaara Punawale - Mangal Shilp & Mangal Upvan near Chinchwad Railway Station at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Krushnai Impirio Ravet at  Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
RaajLaxmi Greens Ravet at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Palazzo Greens Vadgaon Maval at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Sai Hira Moshi at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Gawade Emerald 4 at Wakad at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Commonfloor dot com at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Ravi Karandeekar with Praviin Nanekar at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Ravi Karandeekar with Vilas Wadikar at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Ravi Karandeekar with Rakesh Gaikwad from Realty Prop, Top Sole selling company as per Google at Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017
Ravi Karandeekar at the stall of Roshan Group - 33 mile stone at Tathawade near Wakad - Times Pimpri Chinchwad (PCMC) Property Expo, Auto Cluster, Chinchwad, 4th & 5th November 2017

Related Story:


1) Immediate impact of MahaRERA & GST on Pune flat buyers

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7 comments:

  1. I try to keep my negotiation very simple:

    Paise ghya, Chavi dya...

    ReplyDelete
  2. Dear Sir,

    I've checked your blog, but could not find anything about Dange Properties in Chinchwad (Thergaon).
    Please share a link if you already have some insights on this builder or Casa7 project.

    Thank you
    Nitin

    ReplyDelete
  3. I saw they are charging for parking... I thought it was already illegal..
    People still visiting and purchasing at expo must be really desperate to buy a property

    ReplyDelete
  4. https://realty.economictimes.indiatimes.com/news/residential/home-sales-across-india-dip-by-36-post-demonetisation-report/61575185

    Home sales dip across all cities
    With the builders in Pune acting smart by increasing infra etc how will they sustain ?

    ReplyDelete
  5. "Payment Schedule -
    1) Booking - 9% of Agreement Value + 10% of GST + 1% of TDS
    2) On Agreement - Stamp Duty + Registration + 20% of Agreement Value
    3) Plinth - 15% of Agreement Value"

    - So almost 50% of amount is taken at plinth, which is actually just 5% work !
    If Lashkar-e-CREDAI starts a school, they will take fees till high school for a kid which is not even born. On the admission form, they will mention it as 'PROPOSED KID'.

    "But to mislead the flat buyers crooked builders in Pune have invented "Total Carpet Area" or "Total Usable Space" which is the total of Carpet Area + Enclosed Balcony + Terrace!"

    - Builders if get into selling car, will claim mileage of not less than 67.5 km.
    Their formula - each wheel travels 15 kmpl. So 4 wheels, 4x15 = 60 km.
    A spare tyre in boot @50% = 7.5 kmpl.
    So total distance traveled in 1 litre is 60+7.5 = 67.5 km/ltr !!

    ReplyDelete
  6. New project launches in the real estate sector have hit a seven-year low as end-users have lost confidence in developers, who are struggling with inventory oversupply, coupled with a shrinking investor market. The number of new units launched in the top nine cities so far this year is just one lakh compared to 5.29 lakh in 2010.

    http://www.thehindubusinessline.com/news/real-estate/sevenyear-shani-hits-real-estate-sector/article9942719.ece

    Realty sentiment plummets to 39-month low in Q3 2017 -

    Indian real estate sector’s future sentiment plummeted to 39-month low in June-September 2017 indicating a significant decline in optimism pertaining to its future performance, a recent survey said.

    According to a survey jointly conducted by Ficci-Naredco-Knight Frank, the future sentiment score in Q3 2017 stood at 55, reaching its lowest point over the past 39 months.

    The report stated that majority of the stakeholders feel that the residential launches and sales are either likely to worsen in the next six months or hold steady to their current level, which itself is abysmally low.

    Nearly 73 per cent of the respondents have opined that the residential price appreciation will either worsen or remain the same in the coming six months.

    http://www.thehindubusinessline.com/news/real-estate/realty-sentiment-plummets-to-39month-low-in-q3-2017/article9947404.ece

    It seems builders here like to stay in Alice in Wonderland or they feel each & every buyer has a 'C' written on his forehead !!

    ReplyDelete
  7. RERA, NCLT process may trigger collapse in land prices, say report -

    Report also indicates stress for non-banking finance companies, or NBFC, and housing finance companies that have large exposure to developer loans

    The implementation of the new real estate regulation along with the ongoing insolvency and bankruptcy proceedings by the National Company Law Tribunal (NCLT) against debt ridden builders are likely to push for sale of distressed assets, triggering a fall in land prices by February 2018, according to a report by brokerage firm Ambit Capital Pvt. Ltd.

    The failed auctions for prime plots in Mumbai and Oberoi Realty’s discounted land purchase in Thane from GlaxoSmithKline Pharmaceuticals (GSK)) is proof of this dynamic, it said.

    In September, GSK sold around 60 acres land at Thane in Maharashtra to Oberoi Realty for around Rs555 crore. The transaction translates into Rs9 crore per acre. A decade ago, the same plot of land would have fetched double the amount, the report said.

    http://www.livemint.com/Industry/cpY8bnOmzmlsuKTzgAsH4I/RERA-NCLT-process-may-trigger-collapse-in-land-prices-say.html

    Now builders will give excuse that even if land prices are falling, the JCB (earthmover) rates has gone up & the workers who were smoking beedi earlier are now using cigarette leading to rise in labour cost due to which flat prices will go up !

    ReplyDelete