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Kumar Peninsula

Last updated: December 4 2012
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  • Kumar Peninsula

    Hi chaps

    I just visited a site on Baner Pashan link road by Kumar Properties (not to be confused with kumar builders) - Kumar Peninsula. I like the plans and the builder is quoting 5800 for non hill facing, 6500 for hill facing. The project is on the same side of the road as Padmavilas though north of it.
    Any one been there yet? Please share your opinions.
  • #2

    #2

    Re : Kumar Peninsula

    Originally posted by arg1stoff View Post
    Hi chaps

    I just visited a site on Baner Pashan link road by Kumar Properties (not to be confused with kumar builders) - Kumar Peninsula. I like the plans and the builder is quoting 5800 for non hill facing, 6500 for hill facing. The project is on the same side of the road as Padmavilas though north of it.
    Any one been there yet? Please share your opinions.

    The rates are too high compared with current rates in that area....couple of months back the rate was 5300 in this project which was also far higher than current rates...

    kumar doesn't have good track record of quality and schedule...look at kumar shanti niketan...kumar papilon, kubera bahar...pathetic quality and long schedule delays....

    Thi sland was purchased by builders 12 years back for 4lack per acres...look at thier profit margin...

    Comment

    • #3

      #3

      Re : Kumar Peninsula

      Kumar Peninsula

      Hi

      As i said in my earlier post. This project is by Kumar properties. Correct me if i am wrong Shantiniketan belongs to Kumar Builders (which used to be a satellite company to Kumar properties). However you are right, one should tread carefully as once upon a time these were the same company.

      Comment

      • #4

        #4

        Re : Kumar Peninsula

        Originally posted by arg1stoff View Post
        Hi

        As i said in my earlier post. This project is by Kumar properties. Correct me if i am wrong Shantiniketan belongs to Kumar Builders (which used to be a satellite company to Kumar properties). However you are right, one should tread carefully as once upon a time these were the same company.

        I don't think there is any difference between both versions of Kumar's when it comes to poor quality, delayed schedule, charging extra rates, or writting paid news in news papers about "property prices will go up, prices will go up..."

        Comment

        • #5

          #5

          Re : Kumar Peninsula

          Kumar peninsula

          When there are many complaints about a builders work, it is better to avoid dealing with him.I advocate buying a ready built flat with Completion certificate available.First it saves on service tax and VAT. Secondly you see what you are buying. Besides you can always cross check with other purchasers about any problem areas and difficulties faced. while all may not speak out; at least an idea about the flat and its environment can be obtained. Paper work,municipal water supply,approach roads,bore wells, etc can also be checked out. Consult an advocate about the papers of ownership of land-freehold or leasehold,search report of the builders advocate,commencement certificate etc. the buyer retains control to a great extent if he goes carefully and legally in scrutinizing agreement papers. The builder always states that the purchaser has asked for certain papers, so actually make sure those papers are indeed checked.Once you part with the money, you are in the hand of the builder,since his paper work is always favorable to him, regardless of model acts passed to regulate sales agreement.Do not hurry and spend money, but do it with care.DP plans remain quite often on paper and cannot be the basis of purchase. For example in Dhanori, flats have come up in large numbers. builders talk of DP roads linking with Alandi ,Wagholi and 509 chowk. At least three years have gone past but the roads have not come up so far.Mar Theophilus school,Dhanori has also come up, but there is no approach road, nor street lights in that area.Purchase of flat is an important decision and involves huge amounts, more we are careful and thorough in our checks, the better it is to get a safe and marketable investment.

          Comment

          • #6

            #6

            Re : Kumar Peninsula

            I second vaibhav. Delays are the norm these days and I would not be surprised if projects are delayed by 2+ years. This is regardless of the builder. Buy a wyswig flat. what you see is what you get

            Comment

            • #7

              #7

              Re : Kumar Peninsula

              Originally posted by plan2011 View Post
              The rates are too high compared with current rates in that area....couple of months back the rate was 5300 in this project which was also far higher than current rates...

              kumar doesn't have good track record of quality and schedule...look at kumar shanti niketan...kumar papilon, kubera bahar...pathetic quality and long schedule delays....

              Thi sland was purchased by builders 12 years back for 4lack per acres...look at thier profit margin...

              Buying at such high prices quoted by kumar is helping builder lobby to jack up prices artificially..even if his construction cost is Rs.2000 per sq. feet and land cost is almost negligible as it was bought 12 years back at throwaway price, his gross profit per sq. feet is atleast Rs.3500....even if he sells 25% of apartments, his cost is recovered so he will continue to jack up prices and fool many more customers...

              Comment

              • #8

                #8

                Re : Kumar Peninsula

                Originally posted by plan2011 View Post
                Buying at such high prices quoted by kumar is helping builder lobby to jack up prices artificially..even if his construction cost is Rs.2000 per sq. feet and land cost is almost negligible as it was bought 12 years back at throwaway price, his gross profit per sq. feet is atleast Rs.3500....even if he sells 25% of apartments, his cost is recovered so he will continue to jack up prices and fool many more customers...
                A highrise can be constructed for less than 1050/sq ft. When these buildings are considered, i.e. 11-12 floors, constro cost is not even 1000/sq ft.
                Common areas cost is recovered in form of big loading & this area is not considered in FSI either, which means the loading is bonus for the builder, not to forget the terrace.

                Anyways, this Kumar i.e. Kumar Properties is also constructing 45 Nirvana Hills at Karve Road whose work is moving at less than snails pace despite being such a hyped project, what's more, the builder still hasn't received all the NOCs from the various Govt agencies for this project, especially the higher floors.

                All Kumars, all Goel Gangas, all Naupatlal Sankla, & scorpio chaps are best to be avoided. Man, in current scenario, I would not place bet even on better of the lot builders like Rohan, Vascon, Supreme, Nandan etc. as their projects too are far behind the delivery date. Opt for ready poss in current times.

                * PS:- I would have recommended under-constro if the builder would have been either Godrej Properties or Shapoorji Pallonji (these 2 are my fav builders) .
                If you are happy, you are successful.

                Comment

                • #9

                  #9

                  Re : Kumar Peninsula

                  Originally posted by arg1stoff View Post
                  Hi chaps

                  I just visited a site on Baner Pashan link road by Kumar Properties (not to be confused with kumar builders) - Kumar Peninsula. I like the plans and the builder is quoting 5800 for non hill facing, 6500 for hill facing. The project is on the same side of the road as Padmavilas though north of it.
                  Any one been there yet? Please share your opinions.
                  i have not much input to provide you except one important point...
                  kumar builder is popular for delaying the project for longer duration...check out his other project...delayed by at least 10 months...like "kubera sankul", "Kumar sansar"

                  Comment

                  • #10

                    #10

                    Re : Kumar Peninsula

                    Originally posted by vaibav123 View Post
                    When there are many complaints about a builders work, it is better to avoid dealing with him.I advocate buying a ready built flat with Completion certificate available.First it saves on service tax and VAT. Secondly you see what you are buying. Besides you can always cross check with other purchasers about any problem areas and difficulties faced. while all may not speak out; at least an idea about the flat and its environment can be obtained. Paper work,municipal water supply,approach roads,bore wells, etc can also be checked out. Consult an advocate about the papers of ownership of land-freehold or leasehold,search report of the builders advocate,commencement certificate etc. the buyer retains control to a great extent if he goes carefully and legally in scrutinizing agreement papers. The builder always states that the purchaser has asked for certain papers, so actually make sure those papers are indeed checked.Once you part with the money, you are in the hand of the builder,since his paper work is always favorable to him, regardless of model acts passed to regulate sales agreement.Do not hurry and spend money, but do it with care.DP plans remain quite often on paper and cannot be the basis of purchase. For example in Dhanori, flats have come up in large numbers. builders talk of DP roads linking with Alandi ,Wagholi and 509 chowk. At least three years have gone past but the roads have not come up so far.Mar Theophilus school,Dhanori has also come up, but there is no approach road, nor street lights in that area.Purchase of flat is an important decision and involves huge amounts, more we are careful and thorough in our checks, the better it is to get a safe and marketable investment.
                    Hi Vaibhav,
                    If i am not wrong then, Service tax can be saved only with the properties which were commenced after June 2009 and has completion certificate now. I have the same situation with my flat booked last week. I am gonna ask my builder when he got his commencement certificate.

                    Comment

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