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Absence of Big RE companies in Pune

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Absence of Big RE companies in Pune

Last updated: July 4 2012
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  • Absence of Big RE companies in Pune

    Barring Sobha I have not heard any big league RE company having their housing schemes in Pune. They however seem to have better presence in cities like and Bangalore and Hyderabad.
    Do you think having better names in Pune RE area would change the RE game in Pune? May be better transparency and quality construction and affordable rates?
    Am I wishing too much?
  • #2

    #2

    Re : Absence of Big RE companies in Pune

    Parsvnath is there BUT only one project. Prathishtha in chikli (if we consider it in pune)

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    • #3

      #3

      Re : Absence of Big RE companies in Pune

      Sobha also has only one project on NIBM road ( not exactly but 1 km from the road).
      Construction quality is good. Phase 1 has only bigger flats/ duplex. 2100 + sqft. Asking premium comapre to surrounding projects. Total cost is 80L onwards.
      I heard they are coming out with comparatively smaller flats 1500 sqft. But with increased rate.

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      • #4

        #4

        Re : Absence of Big RE companies in Pune

        I had a talk with Sobha during a exhibition. He said the red tape is so high in Pune, you really need good relations and margins secured for the senior and junior pawars to launch projects in Pune...Everybody knows the margins here right?

        Hence, no big builder seems to be interested, there is too much of a cleaning up to do, and I guess nothing will happen until the RE regulator comes in...and the PMC corporator is changed...

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        • #5

          #5

          Re : Absence of Big RE companies in Pune

          Unlike Mumbai the Pune land titles has many issues. There are many professional nuisance makers in every major land deal in Pune.
          Getting the land in Pune is 3/4th battle won.
          eg Two months back I saw a 2 acre land piece in Bhukump. Loved the location. After the due diligence and assurances that the land is clean, I decided to check it out with Tahsildar's office. Guess what.. the land was plagued by claims from the kids and grand kids of the owners wives. Yes wives two of them. In addition to that the kids and grand kids of sisters of the original owner too were interested for their claim. In all I was told there were about 26 folks who are rightful owner for that 2 acre. The claim denied by the current owner.

          Now which big company wants to get into similar mess on a larger land.
          Hence no big players.

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          • #6

            #6

            Re : Absence of Big RE companies in Pune

            Originally posted by helmak View Post
            Unlike Mumbai the Pune land titles has many issues. There are many professional nuisance makers in every major land deal in Pune.
            Getting the land in Pune is 3/4th battle won.
            eg Two months back I saw a 2 acre land piece in Bhukump. Loved the location. After the due diligence and assurances that the land is clean, I decided to check it out with Tahsildar's office. Guess what.. the land was plagued by claims from the kids and grand kids of the owners wives. Yes wives two of them. In addition to that the kids and grand kids of sisters of the original owner too were interested for their claim. In all I was told there were about 26 folks who are rightful owner for that 2 acre. The claim denied by the current owner.

            Now which big company wants to get into similar mess on a larger land.
            Hence no big players.
            This industry itself is prone to such disease not specific to Pune, but overall!! I don't think DLF/Unitech also don't resort to muscle power/bribe etc to get the land, just that they might be outsourcing the same

            Is it cos of the project size/potential? Need to study the exact numbers and all..I really am not sure, but there must be other reasons as well apart from Red Tape etc!!!
            Last edited by chinmay686; July 21 2010, 11:44 PM.

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            • #7

              #7

              Re : Absence of Big RE companies in Pune

              Yes indeed.

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              • #8

                #8

                Re : Absence of Big RE companies in Pune

                Situation has changed in last 2 years. We have Tata, Godrej and Raheja in Pune now.

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