Today's newspapers report that Pinnacle group is coming up with a redevelopment project clubbing few old 'waadas' in Sadashiv Peth area.

Let's see how things shape up. The launch is on 4th Jan. The prices can be expected to be very high. :bab (45):

Starting this thread to track the new project.
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  • 9 Sadashiv project will be made combining 9 wadas in Sasadhiv Peth in a 2 acres area. It will have 4 level parking, 2 car parkings for each flat.

    Amenities will include Podium Garden, sound proof window glass, etc.

    Launched at a rate of Rs 12000 psf , this project will consist of luxurious 2 and 3 BHK Apartments.

    Anyone interested? :bab (45):
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  • Originally Posted by nitesh321
    9 Sadashiv project will be made combining 9 wadas in Sasadhiv Peth in a 2 acres area. It will have 4 level parking, 2 car parkings for each flat.

    Amenities will include Podium Garden, sound proof window glass, etc.

    Launched at a rate of Rs 12000 psf , this project will consist of luxurious 2 and 3 BHK Apartments.

    Anyone interested? :bab (45):


    This is in the heart of Pune city..excellent social infra..price should not be a constraint for such areas..I'm sure IREF boarders (who swear by the social infra readiness of areas) will be interested in this and other such projects..
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  • 12000 wwwwwwwwwwwwwwwwwwwottonearth



    This project surely for way :high5: people
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  • Irrespective of whether this sells or not, expect the prices to go up in the outer regions; somewhat like a ripple effect. (The logic the sales guys will give is - Pet area is 12k psqft, so model colony should be 10k, and so on)
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  • If this project is providing Podium Garden, sound proof window glass, parking , malls , this project deserves this price. Social infra is already available . Will be good if roads get somewhat widen more during construction, so that there will not be traffic issues. If investors jump on the projects which are outskirts of city and there is lack of infra, am sure this project will sell and boost up. Though housing projects in the city are costly, they are always in demand. If this project will be successfull, am sure many redevelopent projects will be started.
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  • This is a special market segment, hence the normal rules of economics will not apply here (In fact it does not apply to entire Pune region).
    The speciality of this area is that I know people who would not live in any Peth areas even if they get a house for free at the same time, I also know people who would pay any price just to be in "Peth" areas (Sadashiv peth could be one of the better "Peths" )
    I am sure builder will get some bakaras for this project too .. even at 12,000 pre sqft or whatever number !! Personally for me, It is absolutely not worth it !
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  • These peths are central areas of pune with excellent social infra but lacks road infrastructure and open space. If people are not aware, there is plan to raise FSI of these crowded areas from 1 to 2.5. This will be done in order to facilitate re-development at the same time developer ca leave some open space around the project to expand roads etc.

    Hope to see renewed face of old pune at the earliest.
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  • Anybody knows where exactly is it. It is quite interesting to see such a launch?
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  • roads?

    I hope that with the new FSI of 2.5 the PMC makes leaving more space for road widening mandatory. Other wise having 2.5 times the people move in into the peth's will mean completely clogged up streets.

    God save pune!
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  • most important note is that it is a redevelopment project by combining space of 9 old pune 'wadas'. Anyone familiar with the old Pune concept know what it means (I grew up in one of the Pune wada myself in the heart of the old Pune city but not in Sadashiv peth).

    It means there are already a bunch of residents/owners claiming proportionate FSI in the new building. So not everyone who is staying there will be paying 12K rate. 12K rate will be paid by few new buyers which are going to effectively fund the construction costs.

    but all in all, it is a good news for other small wada folks to group and get new infrastructure.
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  • Originally Posted by AnkitS
    This is in the heart of Pune city..excellent social infra..price should not be a constraint for such areas..I'm sure IREF boarders (who swear by the social infra readiness of areas) will be interested in this and other such projects..

    If one can pay 70L or more for junk area like Punawale or Hinjewadi, for 1 Cr you are in bang at core of the city. Decide which is more VFM.

    Anyways, this area is not for me even if builder gives me rate of 1k/sq ft !!

    Originally Posted by ninjatalli
    Irrespective of whether this sells or not, expect the prices to go up in the outer regions; somewhat like a ripple effect. (The logic the sales guys will give is - Pet area is 12k psqft, so model colony should be 10k, and so on)

    Samrajya Kothrud has reduced price by INR 300/sq ft.
    Using the theory of ripple effect, prices in outskirts will drop by 1000-2000/sq ft, right ?

    And I agree with PRB,

    Not all flats are up for sale. The original owners will need to be compensated & 12k rate is the one from where builder will compensate old owners + make profit.

    Btw, the same builder has a redevelopment project going on at Erandwane near hotel Abhishek, opp Cummins.
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  • Originally Posted by realacres
    Samrajya Kothrud has reduced price by INR 300/sq ft.
    Using the theory of ripple effect, prices in outskirts will drop by 1000-2000/sq ft, right ?


    Haha,
    Builders tend to ignore such downflow points; and I read that post of Samrajya Kothrud, I would want to know more on how much is the total overall price decreased, are there any particular conditions (last few flats or a cancelled flat, etc).

    On the contrary, I would love if that happens, but going by historical data, I doubt if that'll happen.
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  • Originally Posted by realacres


    Btw, the same builder has a redevelopment project going on at Erandwane near hotel Abhishek, opp Cummins.


    Any idea what is the rate there? Just wanted to see which one claims higher rate, Erandwane or Sadashiv Peth? ;)
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  • Originally Posted by realacres
    If one can pay 70L or more for junk area like Punawale or Hinjewadi, for 1 Cr you are in bang at core of the city. Decide which is more VFM.

    Anyways, this area is not for me even if builder gives me rate of 1k/sq ft !!


    Samrajya Kothrud has reduced price by INR 300/sq ft.
    Using the theory of ripple effect, prices in outskirts will drop by 1000-2000/sq ft, right ?

    And I agree with PRB,

    Not all flats are up for sale. The original owners will need to be compensated & 12k rate is the one from where builder will compensate old owners + make profit.

    Btw, the same builder has a redevelopment project going on at Erandwane near hotel Abhishek, opp Cummins.


    The smallest 2 BHK as per the brochure is: 1345 sq ft (saleable area). Rate: 12k per sq ft. Total Base Cost: 1.61 Cr. Add parking, maintenance charges, etc, you are looking at say 10 lakhs more (minimum). So Agreement Value: 1.71 Cr. Stamp Duty 5%: 8.55 lakhs. VAT 1%: 1.71 lakhs. Service tax 3.09%: 5.28 lakhs. Total Package Cost: 1.865 Cr. "Value" for "Money" indeed.
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  • there are enough ranades, patwardhans, godboles, patankars, vaidyas, phadkes, agarkars, dixits and bhats in pune with deep pockets to buy these. these flats WILL sell. it is 100X better to buy here than Gahunje, Wakad, Ambegaon or Moshi.
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