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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    S&P affirms negative outlook for 7 PSU banks

    S&P affirms negative outlook on 7 PSU banks

    Global rating agency Standard & Poor's (S&P) Ratings Services has affirmed its negative rating on seven public sector banks in India. The banks on which S&P has affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings include Bank of India (BOI), Indian Overseas Bank (IOB), Indian Bank, State Bank of India (SBI), Syndicate Bank and Union Bank of India (UBI).

    The S&P has further revised the stand-alone credit profile (SACP) of SBI to 'bbb-' from 'bbb' and that of UBI to 'bb+' from 'bbb-' based on anticipation of the banks' weak asset quality performance.

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      nice article 'acres'..but the post from Pune is from June 2009..slightly irrelevant? please enlighten..
      had it been a true valuation I guess the sentiment would have caught up in the market, no? but the prices are still high..rising slow but for sure..

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by estate View Post
        nice article 'acres'..but the post from Pune is from June 2009..slightly irrelevant? please enlighten..
        had it been a true valuation I guess the sentiment would have caught up in the market, no? but the prices are still high..rising slow but for sure..
        Welcome "estate"...which builder are you representing today ? And which article are we talking about here..pls enlighten....

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        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Will Reforms ever get implemented ?

          Taste of the pudding: UPA’s big implementation challenge | Firstpost

          Next 6-8 months are going to be quite eventful for sure.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            Call of duty prevents Major from attending son’s funeral

            Yet another case of innocent life being lost because of negligence of another junk builder in Pune. This time small kid of Indian armyman lost his life because of negligence of Kalpataru builders at PS .

            Residents Blame Builder for Poor Maintenance Leading to boy's death

            Pune: Thirteen-month-old Sahil Wakade, who died when he got electrocuted while playing with his grandfather in the garden of Kalpataru Housing Society in Pimple Saudagar on Friday night, was the only son of an army officer posted at Kargil.

            What is more heart-rending is that Sahil’s father, Maj Sameer Wakade, did not get the opportunity to perform the funeral rites of his son as he is away on duty. The funeral was carried out on Saturday. The family members said they informed Major Wakade on Saturday and he is expected to reach Pune soon.

            It appears that Sahil lost his life due to the failure of the builder and maintenance department of the society to repair the electric wiring. Loose wires carried the electric current in the garden of Kalpataru Housing Society Phase ll. The leaked current had charged even the electric pole. Sahil was electrocuted after touching an electric pole.

            Sahil’s grandfather Suresh Adhyapak, a retired officer of the Indian Navy, told DNA, “Electricity has been a major issue at the society. We had informed the builder and maintenance department but no action was taken. The electric current passed through the pole due to the loose wiring.”

            Located in Jawalkarnagar area of Pimple Saudagar, Phase ll of the society comprises 470 flats. A pall of gloom descended on the society after the incident. When policemen reached the spot after the incident, agitated residents demanded stringent action against the builder.

            “Several other children were also playing in the garden at the time of the incident. A major tragedy could have taken place,” said society resident Dr Sanjay Sonekar.

            Tragic Incident

            Recounting the incident, Suresh Adhyapak, grandfather of Sahil said, “I was feeding Sahil while he was playing in the garden. While playing, he went near an electric pole and touched it. He got electrocuted as the pole was charged and fell down. I was just behind him. Even I suffered an electric shock when I tried picking him up. I was almost flung off. The current was nearly 400 Volts and Sahil suddenly turned bluish. He died on the spot.”

            See entire story and picture here :-

            Call of duty prevents Major from attending son

            Man, I get angry when such things happen & when it happens to someone who protects our country, the temp of blood rises even further.
            Just for the greed of getting more money, builder had poor maintenance to save money which costed a life of small kid whose father is in army protecting our country. Now how I feel like
            If you are happy, you are successful.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Really sad and tragic incident . Hope municipalty will at least wake up now and reaudit all the clearance certificates given to societies in recent past (lift, water, safety etc) and bring the culprits to justice builder/babu/mantri nexus .

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Easy money screwed up India Inc

                Excellent read. How easy money got India Inc in trouble and everyone is at selling non core assets. Many of them are selling RE to clear the debt, Mallya is selling his RE in Bangalore! It's Fire sale by India Inc.

                What next ? Job cuts ? Interestingly this has nothing to do with external/global factors, completely domestic.

                Biyani, Mallya, Suzlon, DLF: Easy money screwed up India Inc | Firstpost

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                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Posting from Gurgaon thread here:

                  No festivities this season

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                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    500 residents of Kondhwa society protest blocked approach road

                    Yet another case where buyers get stuck because of buying based on DP road.

                    ‘I was unable to get my dad to hosp, we lost him’

                    Resident Pourshasb Kayani says blocked approach road delayed ambulance; land dispute puts builder in a pickle.


                    Since three days, the 500-odd residents of the 108-apartment Kumar Sansar housing society in Kondhwa Khurd have been camping at the office of builder Kumar Urban Development Ltd (KUL), protesting the blocking of the approach road for over a month to their society buildings by a local landowner who claims the approach road is on his property.

                    Kumar Sansar residents say they now have to take a one-and-a-half km detour to even hire an autorickshaw, and the dispute over the road and the obstruction erected on it means that vehicles larger than two-wheelers cannot pass through. Presently, they say, a large shed is being erected across the approach road to block movement on it totally.

                    Highlighting the plight, resident Pourshasb Kayani said, “Around a month ago, two days after the approach road problem started, my father became critically ill and we had to shift him to hospital, but the ambulance could not reach our place on time due to the obstruction on the approach road.

                    It took too much time to get him to the hospital, and unfortunately, we lost him.” Affected residents are now wondering how the Pune Municipal Corporation (PMC) could give building permission to a project which has no legal approach road.

                    The civic body has issued occupancy certificates to the residents as well around three years ago. The builder has now filed a complaint with the Kondhwa police, but there has been little action. The approach road, says local landowner Shankar Lonkar, is on property that belongs to him.

                    “When the building construction started, the builder requested that he be allowed to use the road passing through my land temporarily as the Development Plan (DP) road was yet to be laid.As there was a stay on the property owing to a family dispute, the land was vacant. The residents approached the PMC, which requested us to allow the use of the road till the DP road was complete.

                    Now, the DP road has been completed. So, they can use it. If they still have a problem, they should ask the builder. This road was not shown in the society’s original building plan as an approach road. It was only in the promotional brochure,” Lonkar said.

                    He added that the road and a part of the completed project belong to him. “The builder, KUL, has encroached upon my land,” he said. Kumar Sansar society’s managing committee chairman, Vijay Ajmani, said, “We have been using this road for the past three years.

                    It was shown in the approved plan as an approach road. A month ago, Lonkar dumped debris and tried to block the road, but we somehow managed to overcome the obstruction and continued to use the road. Now, he has blocked the entire stretch by erecting a tin shed across its width.”

                    The residents have already written to the builder and PMC, to know if a legal approach road to their society exists. The letters state that only the rough stretch passing through the disputed land to their doorsteps has been closed. They also point out that school buses have stopped coming to the society, and as most of the residents are officegoers, their routine has been upset.

                    Resident Sameer Khwaja said, “The long detour we have to now take passes through another private property. The road’s condition is very bad and our vehicle maintenance cost has increased. We fear that this road will also be closed soon.” “If this is the only approach road, and if it is passing through a disputed property, how could the PMC give building permission to the project?

                    Moreover, the PMC has given occupancy certificates to us and we have taken possession of our flats three years ago,” said resident Adnan Dhuliawala. M G Kapadia, 78, said, “Going out has become a nightmare for us. We can’t leave our house after sunset as there is too much debris on the road.

                    We can’t call ourselves an autorickshaw as the rickshaw drivers are refusing to take the rough road to our buildings.” Sulekha Naik, another resident, said, “We feel that we are completely disconnected from the rest of world.

                    See the pics here :-

                    ‘I was unable to get my dad to hosp, we lost him’, News - Latest - Pune Mirror,Pune Mirror
                    If you are happy, you are successful.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      After long period of time, I have written a review on a project. This time, Empire Square, PCMC. Please see post #5 on following link :-

                      http://www.indianrealestateforum.com...wad-33128.html

                      My next review will be on one of the townships in Pune.

                      Btw, coming to some political news, I had mentioned about rift between dada Pawar & Bobda pawar. This became evident when dada pawar didn't attend NCP meet in Gujarat recently. Reason given was that dada is ill .
                      This even became a news. Here is one link for that :-

                      Angry Ajit Pawar stays away from NCP Baroda conclave - Mumbai - DNA

                      Apart from this, we had scams involving lot of ministers, latest ones being Vadra & Salman Khurshid. The next in firing line is Nitin Gadkari, Prez of BJP, his close aide & MP Sancheti (under whom lot of his businesses operate) & Mah BJP leader, Eknath Khadse. Real fun starts now, irrespective of parties all are bathing in same water.
                      If you are happy, you are successful.

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