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ITWAP and Infosys group

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ITWAP and Infosys group

Last updated: November 23 2015
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  • Re : ITWAP and Infosys group

    Originally posted by priyamramani View Post
    yehaan bhaukne waalo ki kami nahi hai gaalib ..ek dhoondho hajaar milte hain
    you are bang right!

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    • Re : ITWAP and Infosys group

      Originally posted by Blueberry View Post
      As regards to the mamangement fees, I think it is a good idea - worth considering. It is certainly a noteworthy effort and far more desirable than the futile posts in the forum. I shall raise this in the group, thanks.
      Actually, if you charge management fees, everyone will be better off. Group members will know where the organisers are coming from, organisers will not feel that they are doing a thankless job.
      Family of organiser may be saying: Gharcha khaun lashkarchya bhakrya bhaja!!

      Especially since this is a commercial venture, not an NGO working for social upliftment.

      If you have management fees at say 15% of project cost, then you have an incentive to publish all costs and prove the costs (land cost + construction cost).
      Then you also have an incentive to avoid paying black money to builder because you can only charge fees on cheque payments.

      You still have an ethical obligation not to take kickback from builder in black.

      This post is not meant to criticise you. You have to be aware that all these unethical things you can practise and no one will ever know. So that means everyone will have a doubt in their mind that you are practising these things.
      How you deal with that is the key. Bashing other senior members of this group will not get you anywhere.

      You have to go out of your way to be ULTRA transparent - which Nitin is NOT doing by kicking out anyone who raises doubts.

      In real estate, you are guilty until proved innocent. If you cannot handle this statement, please save yourself the stress and switch your efforts to another field.
      Last edited by abeerbagul; May 21 2010, 10:52 AM.

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      • Re : ITWAP and Infosys group

        Let is talk about the finances here,
        800-1200 Rs per sq feet is the land costs, 500-700 Rs per sq feet is the construction cost with the best ameneties(Star City SHirwal is offering good amenties with flats at 1500 Rs per sq feet).

        So the rate at maximum should be between 1500-1800 Rs per sq feet.

        Add on top builder margin of 20%, the per sq feet rate should be about 2000 Rs per sqf eet on CARPET AREA WITH FSI = 1.

        The Insignia charges are as below: 2400 or 2500 with 25-30% loading = 3200 Rs per sq feet, and on top of this, builder + special members have their own flats reserved for free, even if this is 10%, the price jumps to about

        RS 3500 per sq feet

        (Also not sure whether they are considering higher FSI of 1.5 or 2, which would again increase this price)

        Compare 3500 to 2000 (or 2200) and you realize the builders/special members are making a cool 50% on the actual cost of this scheme.

        Can we have Insignia calculations here ?
        Last edited by pcpune; May 21 2010, 11:52 AM.

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        • Re : ITWAP and Infosys group

          Originally posted by pcpune View Post
          Let is talk about the finances here,
          800-1200 Rs per sq feet is the land costs, 500-700 Rs per sq feet is the construction cost with the best ameneties(Star City SHirwal is offering good amenties with flats at 1500 Rs per sq feet).

          So the rate at maximum should be between 1500-1800 Rs per sq feet.

          Add on top builder margin of 20%, the per sq feet rate should be about 2000 Rs per sqf eet on CARPET AREA WITH FSI = 1.

          The Insignia charges are as below: 2400 or 2500 with 25-30% loading = 3200 Rs per sq feet, and on top of this, builder + special members have their own flats reserved for free, even if this is 10%, the price jumps to about

          RS 3500 per sq feet

          (Also not sure whether they are considering higher FSI of 1.5 or 2, which would again increase this price)

          Compare 3500 to 2000 (or 2200) and you realize the builders/special members are making a cool 50% on the actual cost of this scheme.

          Can we have Insignia calculations here ?
          Good Maths!

          IMO, that should be the broad calculation for all RE projects
          across Pune (not Shirwal, of course).

          But then how would you ensure 200% to 300% profit for Pune Builders?

          Comment


          • Re : ITWAP and Infosys group

            JFYI
            one of my close friend closed a deal on baner land deal, selling for 1500 psf. his late father had got it at around 18 rs psf around 1983


            Originally posted by pcpune View Post
            Let is talk about the finances here,
            800-1200 Rs per sq feet is the land costs,

            Comment


            • Re : ITWAP and Infosys group

              We should use respectful words in this forum as mature adults. Present your views & let others do the same guys.

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              • Re : ITWAP and Infosys group

                Originally posted by shirishtiwari01 View Post
                We should use respectful words in this forum as mature adults. Present your views & let others do the same guys.
                Yes, Sir Shirish Tiwari01-ji!

                Comment


                • Re : ITWAP and Infosys group

                  Originally posted by Blueberry View Post
                  You are spot on Rajesh!

                  The builder we have roped in is not doing it at cost. He is doing at lowest possible margins that could be negotiated. He is not doing charity. He has a benefit that the project is part self finanaced - about 50% of the initial cost - land / sanctions and mobilization is being facilitated by group members. Also he gets the buyers in one lot! On the other hand none of us have time to do things on our own.
                  You missed my point. I was questioning the enormous efforts by your group leaders. Why are they doing charity? How come they have time to build homes for others.

                  My wife would eat me alive(read divorce me, seriously), if I spend so much of my personal time building homes for others, without any monetary gains.

                  Now why is this so complicated to understand.

                  Comment


                  • Re : ITWAP and Infosys group

                    Originally posted by pcpune View Post
                    Can we have Insignia calculations here ?

                    Invalid question. You are not allowed to ask Insignia calculation. Buy if you like it else leave it. This is the answer people got all the time.

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                    • Re : ITWAP and Infosys group

                      Right, so if the group leaders are "charging" for the work that they are doing, why not make the charges transparent instead of following "builder" practices (or hiding them), it would be then the choice of the member to accept the charges or opt out.

                      This was exactly my point - the transparency is completely missing in this particular initiative.

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