Hello all,

I am new to this forum.
I am looking for a 2 BHK flat in wagholi, i liked the IVY estate from Kotle patil.
Please share your views abt this..

Please comment about builder also.
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  • The work on Umang Premier is touched 7th Slab... pretty fast progress...
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  • Hi All, I just joined this forum.

    I booked 3BHK flat in Ivy apartment, total cost was 52L. Then I got to know abt water charges and maintenance cost.
    Beside hidden charges (water charges) which they don't tell at the time of booking and high maintenance cost (2.5 rs per sq ft) for 2 years, they also charge interest if you are late in payment. In my case, I haven't done the registration yet because i was not in india. I was told that i can pay the amount as per site progress and can do registration later. Before two months, I was ready to pay some more amount until registration is done but builder did not reply on this. Now builder is saying i have to pay 18% interest on remaining payment and interest amount is 2.72 lacs, while according to my calculation, interest amount should be only nearly 65k. I am keep asking them to tell me how interest is calculated but they did not send any details. Later they say pay only 2 lacs then after too many follow ups on the amount they say pay only 1.5 lacs but still they did not tell me what formula they are using to calculate the interest. This is cheating with the buyer..they must give us clear details of any payment asked for.

    I am fed up following up with them on this and planning to cancel my booking. but same time I am afraid if I will get any other property in my budget as rates are already high in wagholi itself. Guys, whats ur opinion, should i cancel and look for other property? Will I get 3 or 2.5 BHK in 52L in good locality? Please suggest. Thanks.
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  • you delayed the payment for how long ?


    Originally Posted by akskhare
    Hi All, I just joined this forum.

    I booked 3BHK flat in Ivy apartment, total cost was 52L. Then I got to know abt water charges and maintenance cost.
    Beside hidden charges (water charges) which they don't tell at the time of booking and high maintenance cost (2.5 rs per sq ft) for 2 years, they also charge interest if you are late in payment. In my case, I haven't done the registration yet because i was not in india. I was told that i can pay the amount as per site progress and can do registration later. Before two months, I was ready to pay some more amount until registration is done but builder did not reply on this. Now builder is saying i have to pay 18% interest on remaining payment and interest amount is 2.72 lacs, while according to my calculation, interest amount should be only nearly 65k. I am keep asking them to tell me how interest is calculated but they did not send any details. Later they say pay only 2 lacs then after too many follow ups on the amount they say pay only 1.5 lacs but still they did not tell me what formula they are using to calculate the interest. This is cheating with the buyer..they must give us clear details of any payment asked for.

    I am fed up following up with them on this and planning to cancel my booking. but same time I am afraid if I will get any other property in my budget as rates are already high in wagholi itself. Guys, whats ur opinion, should i cancel and look for other property? Will I get 3 or 2.5 BHK in 52L in good locality? Please suggest. Thanks.
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  • Originally Posted by akskhare


    This is bizarre. How can he charge any random figure? It is not necessary that you pay interest on late payments unless it was formally agreed on paper along with the interest rate.

    I remember incident in one reputed RE project where one person had booked two flats. On both the flats he had 30-40% payment outstanding for over a year & construction was ready.

    He made the payment in the end during possession & no late fees or interest was charged ;)

    This is bizarre. How can he charge any random figure? It is not necessary that you pay interest on late payments unless it was formally agreed on paper along with the interest rate.

    I remember incident in one reputed RE project where one person had booked two flats. On both the flats he had 30-40% payment outstanding for over a year & construction was ready.

    He made the payment in the end during possession & no late fees or interest was charged ;)
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  • Originally Posted by mangopeople
    This is bizarre. How can he charge any random figure? It is not necessary that you pay interest on late payments unless it was formally agreed on paper along with the interest rate.

    I remember incident in one reputed RE project where one person had booked two flats. On both the flats he had 30-40% payment outstanding for over a year & construction was ready.

    He made the payment in the end during possession & no late fees or interest was charged ;)


    you delayed the payment for how long ? ;)


    I delayed payment for almost 3 months, and construction is only at 7th slab at present (that's what builder telling me). I was ready to pay some part payment during this time until my loan is approved but builder was asking full amount. Now this random interest amount...

    what should i do? shoud i continue with the booking or cancel it and look for other properties?

    I m also thinking to go around hinjewadi or wakad area. Please suggest if anyone knows any good project in hinjewadi or wakad side in 50-52L range for 2.5 bhk.
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  • Originally Posted by akskhare
    I delayed payment for almost 3 months, and construction is only at 7th slab at present (that's what builder telling me). I was ready to pay some part payment during this time until my loan is approved but builder was asking full amount. Now this random interest amount...

    what should i do? shoud i continue with the booking or cancel it and look for other properties?

    I m also thinking to go around hinjewadi or wakad area. Please suggest if anyone knows any good project in hinjewadi or wakad side in 50-52L range for 2.5 bhk.


    I assume you must be looking for atleast 1200 sqft area in 2.5BHK under 52L in hinjewadi or wakad. If this is the case, I think you are too late now. It is difficult to get 2.5BHK in this range these days. Just check rate at megapolis smart homes phase 3 before taking any action.
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  • Originally Posted by akskhare
    Hi All, I just joined this forum.

    I booked 3BHK flat in Ivy apartment, total cost was 52L. Then I got to know abt water charges and maintenance cost.
    Beside hidden charges (water charges) which they don't tell at the time of booking and high maintenance cost (2.5 rs per sq ft) for 2 years, they also charge interest if you are late in payment. In my case, I haven't done the registration yet because i was not in india. I was told that i can pay the amount as per site progress and can do registration later. Before two months, I was ready to pay some more amount until registration is done but builder did not reply on this. Now builder is saying i have to pay 18% interest on remaining payment and interest amount is 2.72 lacs, while according to my calculation, interest amount should be only nearly 65k. I am keep asking them to tell me how interest is calculated but they did not send any details. Later they say pay only 2 lacs then after too many follow ups on the amount they say pay only 1.5 lacs but still they did not tell me what formula they are using to calculate the interest. This is cheating with the buyer..they must give us clear details of any payment asked for.

    I am fed up following up with them on this and planning to cancel my booking. but same time I am afraid if I will get any other property in my budget as rates are already high in wagholi itself. Guys, whats ur opinion, should i cancel and look for other property? Will I get 3 or 2.5 BHK in 52L in good locality? Please suggest. Thanks.


    My suggestion would be to cancel this booking. You still have a long way to go till you get possession of your flat, and the way things are going on from the builders end..don't think it will be a good option to continue. You can still search more, check few more options, past reputation of builder with whom you think of investing, some due diligence. You might not get a desired flat at the price you are looking for now, but better to search for one..which suits ur budget (maybe a 2bhk, instead of 2,5) + no hassles from a crappy builder..All the best!
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  • Originally Posted by realenquiry
    I assume you must be looking for atleast 1200 sqft area in 2.5BHK under 52L in hinjewadi or wakad. If this is the case, I think you are too late now. It is difficult to get 2.5BHK in this range these days. Just check rate at megapolis smart homes phase 3 before taking any action.


    Megapolis is good option but possession is very late; after 3 years for phase 3, which would be too late :(

    whats are the chances that Ivy property will get appreciated by the time i will get possession (within 2 yrs or so for 3BHK) compared to buying 2 BHK in same price in hinjewadi or wakad?
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  • Originally Posted by akskhare
    Megapolis is good option but possession is very late; after 3 years for phase 3, which would be too late :(

    whats are the chances that Ivy property will get appreciated by the time i will get possession (within 2 yrs or so for 3BHK) compared to buying 2 BHK in same price in hinjewadi or wakad?



    Hi Buddy,

    I started to find a home some 6 months before, after having a deep roaming and understanding the prices put forward by builders + continuously being a silent observer of this forum, I and my dad decided to buy a ready possession or resale flat only. At-least we would know what are we paying for. Secondly, your budget is good enough so don't hesitate to take a decision of cancelling the booking + finding a new home altogether. Also if you get the figure from any builder which is somewhat higher than your budget, then also don't hesitate go and have a look to the flat and if you are interested in the project, then just tell him straight away that you want the flat in 50/52 lakhs against the price quoted by him i.e. Suppose 60L.

    At last I did find a home of my own. My budget was 60L (Full & Final) & I did get it in one of the best location of Pune.

    Just keep faith in yourself + make up your mind for whatever consequences that follow you are ready to face them.

    This was something I told you from my experience which I gained from last 8 to 9 months of house hunting that I did.

    But don't rely on my advice totally, do listen/read to my advice but before implementing it question my thinking/advice 10000 times.

    Did you check the Dhanori/Tingre Nagar area, they are also good options + their are good societies also in this area + they do have a good connectivity to Viman-nagar, and their are good ready possession flats also.

    Secondly, Water issues are also less as they come under the PMC limits. Not sure about Dhanori but Tingre-Nagar is for sure.
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  • If you are ok with 2 more years then check out the Nandan Euphoria Project, as their name is good + the speed with which the project is getting build up is also good.

    Not trying to praise them rather not a sales person of Nandan. Liked the project location a lot.
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  • Planning to BUY

    I am new to this real estate and this is my first investment on the property.Interested in the IVY property for below reason:
    -Not in PMC so per square feet is cheap and next to Kharadi so within next 3 years I am hoping to give us a good return.
    -Reputation of builder.Except mouthshut the reviews were OK.
    -Location near to school and engineering college.
    -Ring Road would be developed in near future.

    The builder and dealer quoted me 3450 but it is negotiable. I am looking for 2BHK in IVY apparment.
    Can someone share the current quoted and is it a good idea for investment ?
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  • Originally Posted by prapin85
    I am new to this real estate and this is my first investment on the property.Interested in the IVY property for below reason:
    -Not in PMC so per square feet is cheap and next to Kharadi so within next 3 years I am hoping to give us a good return.
    -Reputation of builder.Except mouthshut the reviews were OK.
    -Location near to school and engineering college.
    -Ring Road would be developed in near future.

    The builder and dealer quoted me 3450 but it is negotiable. I am looking for 2BHK in IVY apparment.
    Can someone share the current quoted and is it a good idea for investment ?


    49L higher floor ivy apt
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  • Originally Posted by VK1984
    I have heard about kolte patil, that he is a good builder. But not have much idea about them and track record abt them thats why i thought to get some information through this forum.


    there is no problem with the builder. he is one of the most reputed builder in Pune. Have completed landmark commercial projects like GIGA SPACE WAGHOLI.

    Regarding the TV SPACE... that we are talking about.. i had the same doubt wen i saw the sample flata.. but now you can go to the site and have a look at actual flat design on the the third floor. itz like a living room of any flat.. you can put ur TV anywhere you want..
    the only drawback of this project is location.. and do not expect it to very luxurious.. value for money project..
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  • Dedicated to those who are interested to book flat in Ivy

    I have booked 2 bhks in IVY Estate in Sept 2011. This project is very good and will give good return on your investment. However, some points to be considered if you are planning to live there.

    1) Cost of water supply is Rs. 32/sqft. Which is not clearly mention in agreement. At the time of possession, they can charge higher amount also. When I have booked the flat they didn’t declare this.
    2) Mainteannce charge is Rs. 2.5/sqft/month in my agreement, current rate they have increased to Rs. 3/sqft. There is a clause in agreement that this is estimated cost that means again the owners will have to pay more at the time of possession.
    3) Ivy brochure mentions the scale in SqFt while in agreement, scale is in Meter. I have carefully measured it and found half feet less in drawing room balcony. So, pay money for it and get it less. :)
    4) They will form “Association of flat owners” and not the co-operative society.

    If we consider few more points about inside amenities of flat, there are lots of cutting by builder:

    1) No Washbasin in common area, just the provision, they provided corner and water connection only. Get fit the wasbasin at your own cost.
    2) Poor wall tiles in kitchen area, and it’s not upto dado level, only 2 feets.
    3) Less number of electric points.
    4) PVC pipes (not Iron) for plumbing.
    5) Kitchen Otta provide at one side front wall only. Generally most of builders provide L shape Kitehn Otta. So again you have to spend money here.
    6) Only Kitchen walls and Bathroom walls will have Cement plaster; rest of the flat walls will have Gypsum POP plaster. Yes no more Cement plaster on flat walls. I heard many builders are doing this. I asked labor guys were working there that how strong this plaster is. They said its stronger then Cement but if it is any water leakage in flat, it will badly impact the walls.

    There is no replacement option of items they provide. For. E.g. if you want good quality of Kitchen tiles, you can get it your own but they don’t adjust cost with existing one.

    Since I have booked the flat, I have come to know these facts. What will be other glitches I don’t know. Again I’m not totally negative for this project you can certainly go for this while keeping these facts in mind. There isn’t any real estate project or builder exists in India which doesn’t have any loopholes/problems. !!! :) However Kole Patil is one of the reputed builders of Pune and in Maharashtra.


    Good luck !!
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  • Ivy estate

    I had a look at a likely resale flat.I was disappointed that the building already had cracks in various places-may be superficial- but gave poor look.Besides the one bhk building had narrow corridors and was not impressive.Overall cleanliness was also poor. Distance from Viman nagar was slightly more than 7 KM.
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