Monday, April 28, 2008

Achalare and Rachana launches Technopolis, Luxurious 2 & 3 bhk flats at an affordable price, at Baner in Pune

Rachana, Baner and Affordable Property Price!

These 3 things do not go together. Rachana Associates is always associated with upmarket, luxurious and expensive properties. Take any project Gold Cost near Green Park Hotel or Beverly Hills near Pancard Club, 'affordable property price' was never a selling point.

Same with the Baner. Though Baner is a second choice to Aundh, if you are looking for affordable price you will not go to Baner, you will go to Wakad.

But Technopolis ads are totally focused on the price. For example, see these sentences:
Live in 5-star luxury minus the price.
The ritzy dream residence at a truly affordable price!
Luxurious residences. But affordable!
And you thought luxury was only for the rich and famous!
Technopolis_Baner_ad_getimage.dll (by Ravi Karandeekar)

Affordable property rate = Rs. 3,600 per sq.ft. only:

Somebody at Technopolis told me in last 3 days they got more than 600 phone calls 'asking what's the rate?'. I am sure, if you add the phone calls asking 'where in Baner' 'how to come to the site?' all telephone companies must have got good business because of the Technopolis ad.

Does it means, because of the "Get Paid for Incoming" plan, Virgin Mobile is going be the preferred mobile service of Pune builders? Let us see..

At Technopolis, Rs. 3, 600 per sq.ft. is the basic rate. When you add 'floor rise' of 25 rupees per floor property rate of the 8th floor is Rs. 3,775! Including parking, MSEB, Apartment Formation, Stamp Duty and Registration Charges, 2bhk flat of 1,310 sq.ft. on 1st floor is for Rs.52,95,150 and 2 bhk flat of 1,302 sq.ft. on the 8th floor is for Rs. 55,04,153. Where as 3 bhk flat of 1,646 sq.ft. on 1st floor is for Rs. 65,65,230 and on 8th floor 3 bhk flat of 1,643 sq.ft. is for Rs. 68,55,791!

Quality and luxury of Rachana Associates

Before i could comment on the property rate, my friend at Technopolis, Ravi Marda, explained how i am going to get the quality, luxury and elegant elevation of Rachana Associates at lesser rate than they normally charge. Not only that, here i am going to get the same floor plans of the Rachana Associates' Beverly Hills.

Abhijit Achalare, dynamic director of Achalare Associates, had already told me why there is no sample flat ready. He did not want you to miss the auspicious occasion of Akshay Tritiya to book your flat at Technopolis! To find out more about the planning and to see the sample flat i went to Beverly Hills.

Beverly Hills at Pancard Club:

First of all, let me tell you, if you are searching for a good property at a "current reasonable" rate in Baner, please do not do what i did. Do not visit Beverly Hills after visiting Technopolis. Why? These are my reasons:
1. Beverly Hills has a sample flat ready.
2. At Beverly Hills in A and B wing, there are few flats available whose possession is in September 2008 .
3. At Beverly Hills, they have just opened the booking of C wing whose possession is in March 2009.
4. They have already started the construction of C wing and 6 slabs are done.
5. Rachana Associates themselves are constructing Beverly Hills.
6. Construction of the club house is going on.
7. You get fair idea of the impressive entrance lobby, the 2 tire parking and vehicle free zone, as well as the complete layout of the project.
7. Property rate is Rs. 3,500 + 25 Rs. floor rise. So 2 bhk flat of 1,300 sq.ft. fits in to the budget of 51 to 53 Lakhs. 3 bhk flat of 1,6oo sq.ft. fits in the budget of 61 to 63 Lakhs.
8. Covered parking at Beverly Hills is Rs.1,50,000. But at Technopolis Rs.2,00,000. MSEB is Rs.60,ooo at Beverly Hills but Technopolis charges Rs.1,00,000.
10. If you are not adventurous and believe in safe investing 50% completed project is good, particularly in these days of rising construction costs, as per the statement by Promoters and Builders Association of Pune.

Rohan Leher and OvalNest

At Technopolis, surprisingly for the first time in my life, i heard a salesman in Baner, talking about Warje and OvalNest. While talking about the huge demand for the flats in Pune at current realty rates, vice president of the PBAP also gave example of the more than 100 bookings in a day at SRK Developers' OvalNest. But why nobody is talking about Rohan Leher? At Rohan Leher, property rate for 1st to 5th floor is Rs. 3,500 and above 5th floor is Rs. 3,600!

If you know any project at Baner who is offering better rate than this, please, let me know in the comments. Please, subscribe to keep getting all my blogs by email. Now, builders have also, at least, started talking about "price and affordable home." Thanks, Technopolis!

Related Stories:

Be a smart property buyer.. ask your builder for the CIDC-CQRA Certificate before booking a flat

Pune real estate market news - new project launch and special offers on the auspicious occasion of Gudi Padava

Felicita - Baner: 2, 2.5 and 3 bhk flats, opposite Hotel Mahabaleshwar on Baner road in Pune, reduces the property rate - Rs.3,801 ...only for 2 days

Posted by Ravi Karandeekar at 18:48 8 comments

Saturday, April 19, 2008

Felicita - Baner: 2, 2.5 and 3 bhk flats, opposite Hotel Mahabaleshwar on Baner road in Pune, reduces the property rate - Rs.3,801 ...only for 2 days

Launched at a "special" rate of Rs.4,251 per sq.ft.!

As per the ad in the Westside Plus and the phone call i received, for 2 days - today and tomorrow - till 20th April 2008 - Felicita - Baner has reduced the rate by 450 rupees per sq.ft.

Now, you can book your flat at Rs.3,801 per sq.ft. At this rate, if you book 2.5 bhk flat of 1,285 sq.ft., you can save nearly 5.8 lakhs!

You know, in the first week of March, Shree Venkatesh Group had launched Felicita Baner at a special rate of Rs.4,251 per sq.ft. and till today could book only 26 flats.

Are the property prices in Pune crashing?

Ritu, you must read her comment, called Felicita - Baner twice to confirm about the price reduction. Ritu also tells about her experience at Mont Vert. Mont Vert is ready to offer the discount of Rs.100 per sq.ft.. "Are the property prices in Pune crashing?" Ritu wonders.

I am curious to know what Priya says about this price reduction. Because, Priya says, "anything more than 3,000 Rs. per sq.ft. in that area is a rip off" What do you say? Should property rate at Baner come down to Rs.3,000 per sq.ft.?

"Is rental better?"

The way rates are going up, rental is a better option says Amar. He is glad to know that many people think like him! What do you think?

Felicita - Baner: 40% construction work done!

All this discussion is very important to me because we are talking about Baner. If 3,000 Rs. per.sq.ft. is OK in Baner then what should be the real estate rate in Wakad, Rahatani and Pimple Saudagar & Nilakh? Rs. 2,500 per sq.ft.!

Plus, we are talking about Felicita which is at a prime location on the Baner road, opposite Hotel Mahabaleshwar. Not at Pancard club, or on the other side of Mumabi Pune bypass like Rohan Leher or at Balewadi! Which are for sure undeveloped than this location.

Most important is the stage of the construction of Felicita. More than 40% work is done. You will be booking a flat in the building whose 5/6 slabs are cast. Hope Felicita will act smart in this slowdown in Pune real estate market, ignore the stunts of PBAP, learn something from the other projects where ready possession flats are laying vacant and come down on the rate and complete the project in time.

To keep a watch on the happening Pune real estate market, please, subscribe to RSS of my blog in Google reader or get an email. Join my Google Group. Feel free to call me on my mobile or chat with me on the Google Talk (i am using Labs Edition) or join me on Twitter. Please, keep on sharing your views and news in the comments! All the best for fruitful negotiations and best deals!!

Posted by Ravi Karandeekar at 18:27 13 comments
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Tuesday, April 8, 2008

Gera's Regent Park at Pancard Club, Baner: Is Supreme Pallacio an option or a competition?

Supreme Universal launched Supreme Pallacio, Apartmentos de Castillo(!), last weekend. Half page pre-launch ad on Saturady and the full page ad on the day of the launch - Sunday, talked about the high-end specifications (and asked you to call for an "Invitation")!

I wont say, i do not like the project, but i find it difficult to say that Supreme Pallacio is a great project. I find it difficult to say great, because, to me, Pallacio looks like a typical multi-starer Karan Johar type NRI-oriented Hindi film which fails to charm young Indian multiplex box office.

Gera's Regent Park vs. Supreme Pallacio:

I, also, find it unfair to compare Supreme Pallacio with Gera's Regent Park. Unfortunately, for sure, the comparison is going to happen.

First reason is both projects, Gera's Regent Park and Supreme Pallacio, are in the neighbourhood of Pancard club at Baner. Both projects are of nearly the same size. Both projects have high value flats in the 1 crore plus bracket.

Gera's Sky Villas at Kharadi:

But Supreme Pallacio has one big advantage. Pallacio has a sample flat. Gera's Regent Park doesn't have one. They will take you to Gera's Sky Villas at Kharadi. If anybody fails to understand the features and the benifits of Gera's Regent Park, because there is no sample flat, as a Pune real estate salesman, i will feel sad.

High value Pune Properties:

After all, Gera's Regent Park represents every thing high value Pune real estate architecture and planning stands for. Gera's Regent Park is not only lavish but it has a concept, a thought. A unique trend set by '1 modibaug' and Arc.Vishwas Kulkarni. (Do you know Venkatesh Mirabel, which is in the same neighbourhood, is also designed by Arc.Vishwas Kulkarni?) But after visiting the sample flat of Pallacio, do you think anybody would be in a mood to think rationally? Please, have a look at the photos and get the feel of the project:

supreme_pallacio_baner_swimming_pool

supreme_pallacio_baner_landscaped_podium_garden

supreme_pallacio_baner_elevation

supreme_pallacio_baner_entrance_lobby

supreme_pallacio_baner_air_conditioned_flat

supreme_pallacio_baner_false_ceiling

supreme_pallacio_baner_marble_flooring

supreme_pallacio_baner_modularkitchen_hob_chimney

supreme_pallacio_baner_jacuzzi

supreme_pallacio_baner_terrace_garden

supreme_pallacio_baner_sky_loung

1 modibaug set the trend:

Aniruddha Deshpande's City Development Corporation, promotors of Amanora Park Town, and Rohan Builders, who launched Rohan Leher in the last week, set the trend of high value flats in Pune. In 2003 they lauched "1 modibaug", an exclusive project of 80 flats in the price range of Rs. 1 crore plus, adjacent to Agriculture College, on the Pune University Road.

Who has 1 crore plus budget?:

At this budget only Schin Tendulkar, Chairman of some Sugar Co-op and Poitician from Baramati can afford to book a flat at 1 modibaug was the popular idea. But, one evening, my wife told me that her friend has booked a flat in 1 modibaug. This news not only challenged me as a real estate professional but hurt my pride as a husband too and i expressed my doubts about his 'integrity'. Obviously, i had to pay for this and face her non co-operation movement for the next couple of days and nights.

Pune rides high-end boom!:

Today according to Vishwajeet Jhavar, CEO, Marvel Realtors, the demand for the super luxurious homes is much more than the supply. He himself has completed 5 super luxurious projects which were booked before the formal launch. (Voila! Booking Open!! Marvel Imperial at Boat Club, Marvel Diwa at Magarpatta road, Marvel Enigma at Kharadi, Marvel Matrix at Mundhwa. Call 020 2605 2920/1, 91 93712 18215, 91 93258 69666.)

Darode Jog, you too?:

Subsequently, because of the demand and the prise rise the bar for premium housing went on rising. From Rs 1 crore to Rs 2 crore became the entry lavel high value flat. For example, budget of a 2 bhk flat at Darode Jog's Blossom Boulevard at Koregaon Park is 1 crore and 15 lakhs and above. (Hurry! last few falts left! Call 91 99229 01413)

1 Crore flat on Paud Road!:

Obviously, now a days, we find lots of 'premium flats' in Rs. 1 crore plus bracket even in the medium budget schemes - Paranjape Schemes' Blue Ridge at Hinjewadi, Pethkar Projects' Samrajya - Balwantpuram on Paud Road in Kothrud, Amit's Treasure Park at Sant Nagar on Satara Road, Amit's 9 Green Park at Sahakar Nagar - all have flats in the 1 crore plus bracket which are not considered obscenely expensive.

YOOPune:

If you find this '1 crore plus' bracket too much, let me remind you about the upcoming project of Panchshil Realty and Celebrity architect and designer John Hitchcox and French designer Philippe Starck. Their project, 'YOO Pune' at Hadapsar is going to have 400 SOHO homes in the first phase. The minimum cost of a Soho Home - a fully furnished apartment measuring 600-700 sq ft - would be Rs5 crore. Just imagine, what would be the price of 300 other apartments in the second part of the project, each measuring between 4,000 and 9,000 sq feet!

Afterall, Pune is one of the most important city of ‘CHINDIA,’ (as these two countries, China and India, are collectively denominated). Which has become the prime target of many big global investors! So, please, subscribe to my blog, join my group and keep in touch with the latest Pune real estate developments.

Posted by Ravi Karandeekar at 08:19 10 comments
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