Hi Guys,

I'am planning to buy a 2BHK flat at Kumar Periwinkle-Chandannagar.
However I have certain doubts pertaining to the agreement that I'am suppposed to sign. Can someone pls advice:

a) The timeframe for possession is indicated as 36 months in the agreement although the Sales team/Site team is stating that it would happen within the next 15-18 months from now. Is that OK?
b) Since I'am a novice would like to know- as a purchaser of an apartment in Pune/Maharashtra, do I also have ownership of the plot of land over which the apartment is constructed? I mean say for example, there are 54 flats in a building, would each of the 54 apartment owners have a stake on the plot of land over which the building is constructed? This is important since I'am not sure if the owbership of the plot of land is with the society or with the developer- Kumar Properties in this case.
c)Is it advisable to go for a home loan from a Bank eventhough I may have cash in hand. The building is under construction & possession is by 31Dec-10.

Thanks.
Jitendra
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  • rate of kumar properties are reduced by 430 rs psf. do you know this?
    CommentQuote
  • Originally Posted by jmorey
    Hi Guys,

    I'am planning to buy a 2BHK flat at Kumar Periwinkle-Chandannagar.
    However I have certain doubts pertaining to the agreement that I'am suppposed to sign. Can someone pls advice:

    a) The timeframe for possession is indicated as 36 months in the agreement although the Sales team/Site team is stating that it would happen within the next 15-18 months from now. Is that OK?

    Thanks.
    Jitendra


    Don't go for under-construction flats. Better ready possession options are available.
    CommentQuote
  • Originally Posted by realacres
    Don't go for under-construction flats. Better ready possession options are available.

    Right.
    Before booking a flat in under-construction you can search for ready to occupy flats.
    If they looks expensive then try to negotiate. In this market you may get it at your rate.
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  • Right

    Right said Mady and real
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  • Originally Posted by jmorey
    a) The timeframe for possession is indicated as 36 months in the agreement

    Builders are playing safe as would be constructing apartment using your money. If there are not enough booking they can delay construction.

    I will suggest you to ask for a soft/draft copy of agreement before registration so as to know:
    1) Plan is approved and project is legally safe,
    2) Remedy applied in case of any dispute (a clause may be against your interest).

    Originally Posted by jmorey
    c)Is it advisable to go for a home loan from a Bank eventhough I may have cash in hand.

    Don't know ur profile but would suggest to save cash for hard-times (so as to sustain for 1/2 years) and get an affordable loan from BankOfBaroda. You may save tax as well :).

    Finally, don't forget to negotiate.
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  • current rates

    Hi pl post the quoted and offered rates in the property to help us buyers.:)
    CommentQuote
  • Originally Posted by Sansei
    Hi pl post the quoted and offered rates in the property to help us buyers.:)


    A friend has visited this project 2 weeks back for the under construction phase.
    Official rate are 2800 psf but mkting agent quoted 2400 psft without any bargaining.
    I assume final rate could be well below 2400 (may be 2150).
    CommentQuote
  • rates for Kumar Properties

    Originally Posted by Sansei
    Hi pl post the quoted and offered rates in the property to help us buyers.:)


    Kumar properties have reduced the rates by 430 rs . Periwinkle at Chandannagar at 2370 psf and Kumar Primrose at Kharadi at 2570 psf.

    Aviod Periwinkle- the factory behind will take a long time before it is closed and you will hear the noise the whole day.
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  • Any other good projects in that area.

    Any body who has recently purchased please guide us.
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  • The kumars Kharadi proj brokers rate was around 2500 psf,

    Now this will also take a hit. It will also hit other proj in that area.

    Recently Two flats sold at Gera'ss around 39 + for 3 Bhk after a delay of

    more than half a year.
    CommentQuote
  • Good projects

    Hi lots and lots of ghost projects here.


    Only Goel ganga has some people.

    few people have come to Gera's.

    Rest u can go and admire the bldgs during the soaky day on rain filled

    mud tracks.
    CommentQuote
  • Originally Posted by Sansei
    The kumars Kharadi proj brokers rate was around 2500 psf,

    Now this will also take a hit. It will also hit other proj in that area.

    Recently Two flats sold at Gera'ss around 39 + for 3 Bhk after a delay of

    more than half a year.


    Any idea how much resale 2BHK will cost at Gera's in Kharadi?
    Are there resales available in 2bhk ?
    CommentQuote
  • Originally Posted by aditi sharma
    Any idea how much resale 2BHK will cost at Gera's in Kharadi?
    Are there resales available in 2bhk ?

    I know of one which was sold for 32L all inclusive ( Brokerage, SD, REG, NOC from Builder etc included).
    CommentQuote
  • Originally Posted by Sansei
    The kumars Kharadi proj brokers rate was around 2500 psf,

    Now this will also take a hit. It will also hit other proj in that area.

    Recently Two flats sold at Gera'ss around 39 + for 3 Bhk after a delay of

    more than half a year.


    Hi Sansei
    I am facing the issue that for resale flat although the quoted rate is 100-200 below the Builder at least however other costs like NOC from Builder, Brokerage, legal etc. and the documentation around it make it quite cumbersome and not that attractive. Need your advice.
    CommentQuote
  • Originally Posted by aditi sharma
    Any idea how much resale 2BHK will cost at Gera's in Kharadi?
    Are there resales available in 2bhk ?

    32 Lacs all inclusive - I know of one It may be further down
    CommentQuote