No EMI till possession if you give Advance Loan Disbursement (ADF)!
In July 2008 Vilas Javdekar and Associates launched their "Green Umbrella" offer for Palash 2.0. In September 2008 they launched compact flats in Palash 2i with the same offer.
On my blogs, Ravi Karandeekar's Pune Real Estate Blog and Ravi Karandeekar's Pune Real Estate Market News Blog, we had "hot discussion" on this offer. Main objection to this offer was - "Is it safe to give Advance Loan Disbursement to the builder?" (Did you read my post "Donate your eyes and get Ray Ban for Free!"?)
Builders gimmicks to avoid price reduction!Besides "Trust", property rate was also a major concern.
If you remember in March 2008, we had just started talking about "Pune Real Estate Slow Down".
Promoters and Builders Association of Pune (PBAP) has warned property buyers about impending rise in the property rates in Pune real estate market.
Mont Vert has just launched "compact homes at Seville in Wakad" and tried to break the "price barrier".
These marketing initiatives were called as "builders' gimmicks" to avoid price reduction and trick the Pune property buyer to book the flat.
These "exclusive offers" were nothing but a disappointment for the first time home buyer working in Hinjewadi who was eagerly expecting overly inflated property prices to come down.
RBI and Finance Ministry joins builders to tempt the property buyers!However, we all know that "Green Umbrella" offer of Palash 2.0 and Palash 2i got a good response.
Many more builders in Wakad (compact flats at SuCasa!) and even in Hadapsar (Runwal Seagull!) tried this type of an offer, launched "compact homes" and it became a new trend in Pune real estate market.
Not only in Chakan (Sara City), even in Balewadi (Amit's Astonia) and Kharadi (Gera's Park View 1) "compact budget flats" were launched.
Global financial crises and RBI stimulated low home loan interest rates and tried to add some attraction to these affordable homes.
How Palash at Wakad is utilizing your ADF?But what is happening at Palash 2 and Palash 2i who were among the first to start this "trend"?
Was it worth to take a risk of giving ADF to the builder?
Here are some photographs which show the progress of the construction at Vilas Javdekar and Associates' projects in Wakad.
In the present circumstances, nothing looks beautiful than on going construction work at site! Please, have a look and share your views in the comments. (Comments Policy)
Palash 2.0 - G and H wings:
F,G,H work in full swing:
H wing level 7 complete:
D and H wing:
F and G wing:
H wing from D wing:
H wing from podium:
11th Slab G wing:
10th Slab H wing:
Level 5 complete:
Site office and Palash 2i:
Site office and Palash 2i:
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