Middle class dream!
While we were busy in discussing the rational property rate of Blue Ridge Hinjewadi, on my "Ravi Karandeekar's Pune Real Estate Market News Blog", on 21st and 22nd February Paranjape Schemes officially opened the booking of their 2nd township Forest Trails at Bhugaon.
Launching of 140 acre bungalow township in this recession was a shock to those who were not aware about this upcoming attraction of Paranjape Schemes. But those who had visited their website www.pscl.in , at least ones in the last six months, knew about these 200 world class bungalows.
Yes, you are right, around 40 bungalows, costing above 1.25 croer, were already booked, before the project was launched. What may have happened in this 2 day event is any body's guess.
Unfortunately, I was not keeping well, so i couldn't visit Forest Trails. Compulsory rest at home was making me more restless. Advertising on Radio City was telling me that i am missing a big event. Event of feeling good and hopeful about better life.
However, my friend visited the event. His reactions and comments only made me more curious. He said "Forest Trails is a middle class dream!" When i asked him to explain, he said, "To understand this i have to visit the site. Who can say "no" to these bungalows?" When i asked him "Did you feel like booking?" He said, "Ravi, do you think i belong to middle class?"
What is your take on "Forest Trails"?
I have realized that i have become a hostage of over protective Doctor and a cynical friend. Only you can tell me the truth. Only you can free me from the gloom and doom of recession. Did you visit Paranjape Schemes' Forest Trails? Did you enjoy the idea of owning a bungalow? Please, share your experience in the comments. (Comments Policy)Feel free to call me:
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If owning a bunglow @ 1.25 Crores is Middle Class dream, then I feel really low.
ReplyDeleteProbably, I have slipped to BPL !!!
Yeah. really. Middle class dream? You gotta be kidding me. If owning a Rs. 1.25 Cr bungalow in Bhugaon is a middle class dream then as Atul said, I might be well below poverty line. I need to create a help me get above PL (not PULA) Fund and ask these middle class people for donations.
ReplyDeleteI guess too much medication also have this kind of effect on people when they start hallucinating. Please tell me what have you been smoking. I need some of that too so that I can dream or hallucinate belong to this kind of middle class.
# ref: "Middle Class dream, "
ReplyDeleteDream. Wish. Aspiration. Do these things come with the price tag?
All bungalows at Forest Trails are 1.0 Crores plus... So I can NOT *DREAM* about this despite of any softening in interest rates, inflation etc !
ReplyDeleteNot sure what is the definition of middle class according to Mr. Paranjape? If this type of property Indian middle class owns, then our politicians will can do great canvassing in forthcoming elections so that even Obama, Wall Street folks will get bigger SHOCK
I must say, Paranjape have done a wonderful job with Forest Trail. I visited the complex about a month ago and was very impressed with the quality of the offering. This is what Pune and India needs, to take it into the modern world.
ReplyDeleteLet's stop complaining about the price. One must be prepared to pay for Quality. Nothing is free in this world.
Let's all aspire to be proud owners of nice things in life.
Owning a bungalow for Rs.1.25Cr @Bhugaon? LoL. I would rather purchase a good plot at Baner & construct a bunglow myself at this price, why the need to go to Bhugaon? Better still, I would construct a farmhouse here at less than half the rate. Anyways, at the end of the day, it is Paranjape. Ask:- Can you wait for 4-5 years to get the possession, seeing the delays at Paranjape's other projects?
ReplyDeleteIt seems Mr. Paranjape thinks that Pune lies on outskirts of California. I would rather buy a bungalow at San Francisco at this price rather than at Bhugaon!
Anon said, "Let's stop complaining about the price. One must be prepared to pay for Quality. "
ReplyDeleteHaha! The cost of some of the best construction won't cost you more than Rs.1k/sq ft, today even less due to fall in cement & steel prices. The land here can be acquired for sub-Rs.500/sq ft.
Do builder thinks buyers are jokers? Of course, there must be some, but rationally thinking, the cost is absolutely illogical nor does the infrastructure supports the price.
# ref: "bungalow at San Francisco"
ReplyDeleteHello Parimal, when i Google Realtor.com , townhouse in the range of 200,000 to 250,000, i found this: http://www.realtor.com/realestateandhomes-detail/81-Ervine-St_San-Francisco_CA_94134_1106667363
Yes, this is absolutely ridiculous.I lives in Japan & in this amount any body can purchase a good house in a place which is just 20 mins local train distance from Tokyo Station with infrastructure in the best in the world. I couldn't believe that how can people buy house in the bhugaon & that too with so extravagant cost!!!
ReplyDeleteHi Ravi,
ReplyDeleteThanks for the link. I would like to update you about SF. Visit the following link for more:-
Foreclosures ignite hot Bay Area homes sales:-
Carolyn Said, Chronicle Staff Writer
Friday, February 20, 2009
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/19/BUC71613BL.DTL&type=realestate
As far as prices are concerned, visit the following link:-
http://www.trulia.com/for_sale/San_Francisco,CA/price;a_sort/
Not to forget the median income of Bay Area, SF is $73000. What about Pune? It isn't even 1/100!! Infrastructure in Pune is worst than even the country areas of SF.
Paying Rs.1.25Cr @Bhugaon is like paying the price of Merc for an alto.
Scheme of houses starting from 1.25 crore during this recession?
ReplyDeleteRead "scheme" = "scam".
Paranjape won't complete this scheme like their few other schemes and you are bound either lose the money or wait for several years for it to complete.
If this is a Middle Class Dream then I'm not more a middle class.
ReplyDeletea bunglow in bhugaon, man that is one dream come true, i mean so what if it is million miles away from pune city, so what if it cost 1.2 crores (a middle class guy has to earn atleast 2.5 lakhs per month to be able to afford a house,
ReplyDeleteas Ravi says you cannot put a price for dreams, Ravi i guess you are talking about the builders dreams and not the dreams of a common man)
ravi keep up with the positive talk favoring builders you are going to get good commissions. and Bhugaon WTF its not deccan
# Ref: "Bhugaon WTF its not Deccan"
ReplyDelete- Hello Aman, thanks for the comment! Naughty and spot on. Though its not exactly "complement", I liked the way you put it. Please, keep on dropping and commenting.
its not that bad...
ReplyDeleteand when someone said that cost of construction is less than 1k/ sq ft, i think he hasnt gone and seen the place... plus you got the infrastructure cost.... and at no time should you believe that mr paranjape will think that hey..... i shuldnt make a profit out of this... i have to give this for fre....
In my opinion, the site is fantastic, the homes are quite nice, and access to the site is quite reasonable. What is not so reasonable, is the price tag. A bungalow of 2200 sq ft costs about 1.8-2.0 crores, which means it comes at the rough cost of 8k-10k per sq ft. Now agreed the infrastructure might be good, the clubhouse may be the best out there, but how much am I going to use these things, and is that the price I should be paying? When flats with similar amenities are being sold for rate of 2k-4k, why should one have to pay 3-4 times as much simply to have an extra 1000 ft of garden? The multiplication factor of 2 is understandable, but anything more is simply mind-boggling.
ReplyDeleteMr.Ravi well said....me n my wife toghether earns Rs.30000 a month, and seriously I cud not afford forest trail bunglow even if we fetch another 30000.That eventually sucks me bcos I cant figure out which class I belong to.Its not for middle class .....thats for sure.No offense but often you appear cosy and easy going with builders rather than being rational.Thanks for your time...!
ReplyDeletePeople,
ReplyDeleteunderstand the two different things. Quality and Price.
by middle class dream, it should refer to the quality. The location and the brand of the builder.
Price- of course everybody knows that 1 crore is not a middle class person is willing to pay, even for a bungalow by a reputed builder, at ANY location, because, one doesn't have it. Don't feel bad or insulted by the comment made by someone's friend who expressed his comment sarcastically. No serious thing for us. (This could be a serious risk for someone who is NRI and has parents who praise Paranjape. Everyone must know the details before one books.)
Ravi,
why don't you give proper description link to the explaination, in the actual post, so people don't divert from the actual point of discussion?
With such a huge population and huge growth potential for Indian middle class, the property prices are bound to rise. But this price tag is tooooooo much at this time. May be after 10 years, our existing middle class can afford this price tag.
ReplyDeleteI don't think I can afford this price tag.
Pass and good luck ...
Rs 1 cr minimum ($250K) for a bungalow at Forest Trails is ridiculous. What is even more so is Paranjape's have not rationalized the prices by a bit from Feb to now even as the real estate prices are dropping by 30-50% in rest of the country.
ReplyDeleteRecently there was a feature on Yahoo Finance where they had listed many splendid houses in US at decent places (e.g. cozy university towns) for < $100K. This is the right intrinsic price of real estate. Compare a university town in US with its infrastructure and amenties with BHUGAON. Do the head honchos at Paranjapes ever get down and walk with their feet at Bhugaon?
Alas when will realism dawn on Indian builders?
huh! It's all about Dhanda! Get it if you can afford it. After all, people are willing to purchase so are builders (even those gunthe-waalas) willing to sell at whatever prices they can stretch it at! Kumar builder asking a 5000/- sqft at Parisar Kothrud was in remote dreams of people staying here in kothrud which was not even being sold at 1300/- sqft. It's all demand supply, Amen! If anyone of you comment writers become a builder and has plenty of land in kothrud, would you sell me a flat at 1400/ sqft for a 2/3 bhk in yr 2010? Never in your remote dreams!
ReplyDeleteI have a special deal for you. Go ahead and book a bunglow in this scheme at 1.25 cr. Wait for 4 years for Paranjape to build basic infrastructure. Then wait for them to offer these same bunglows for 80 lacs in group bookings. Then cancel your booking and beg for refund from them. This is the situation with Blue Ridge in hinjewadi. They sold the flats at 3500 and now they are selling the same flats at 2900. They are not giving the new rate to the existing buyers. Existing buyers are frustrated and lining up for cancellations. Avoid business with Paranjape.
ReplyDeleteTo Anonymous:
ReplyDeleteKolhya La Draksha Ambat
Hi,
ReplyDeleteAnonymous I agree with you. Its totally ridiculous, Mr. Karandikar, please dont be so biased with builders. If you are working for a builder please let us know so that we will stop looking at your blog for suggesstions. Anonymous please tell me more about Rs2900 /sqft of Blueridge. I might change my decision to buy the flat. plz send me email @ tonnemail@rediffmail.com
Thanks in advance.
Thanks,
Dev
Guys one thing for sure...no person who has commented here owns a bunglow at bhugaon at Forest Trials...I am damm sure about that...Only middle class people like us like to chat and talk on what others prefer...If you have the guts and the money power go buy your dream home and just dont keep chatting vague.....When money comes in your hand....no construction cost and per sq.ft issue can crop up in the person's mind...so people chill !!!!!! Dont worry be happy and get what you can afford...Let the other things be for the rich and elite class.. because these are the people who can afford all these luxuries....Happy home hunting...
ReplyDeletenothing wrong with builders selling at whatever price if people are ready to buy :) ..I wonder why ever project get sold out if people are so frustrated with rates offered ..recently Paranjpe Yuthika is costing 92L for 3 BHK flat ..If I have money I would rather buy the bunglow at Forest Trail for 1.25cr :)
ReplyDeleteeverything accepted dream and all..... what about the maintenance cost? for 4 bhk flat in pune you need Rs 2500 min what for bungalow? for a salaried person is that possible? with fix amt of income.... more over the school which is visible from that scheme cost Rs 45000 pa which will go high every year. The school starts from 1st only not form mini kg.
ReplyDeleteI saw Paranjpe men distributing pamphlet of forest trail in Singapore recently.
ReplyDeleteThe motive and the target audience for the project is quiet clear
Not for middle class of Mumbai and Pune.......
How many of you have actually seen the place? i will bet my money on forest trails for following reasons:
ReplyDelete1. its a tone down version of lavasa (if u like comparison) and just 5 km away from Chandani chowk
2. rates are almost at par with lavasa but its not for a weekend home (like lavasa)
3. very peaceful and well laid out plan (may take 3 years more to complete)
4. Offers neat flats (not just bungalows as discussed above) and 2bhk costs 57 and 3bhk at 67 lakhs. In first 3 days 4 towers were booked completely.
5. Price- if this appeals you go for it else go for options you have discussed
6. i am planning to book a flat in newly opened towers 5-6, give me valid negative points else i will book.
PS i have no relation with the builder or a blogger, but i have visited the site 3-4 times in last 1 month