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Samrajya, Pethkar Builders, Kothrud, Pune

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Samrajya, Pethkar Builders, Kothrud, Pune

Last updated: May 1 2015
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  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

    Originally posted by punerebuyer View Post
    yes... flats bought 5 years back have been appreciating and that is what we all are saying a a bubble formation... just because flats appreciated for last 5 years, doesnt mean they will appreciate for next 5 years too...
    Dear punerebuyer,
    You can certainly pray for it...
    Originally posted by punerebuyer View Post
    by this logic, the rate in Kothrud will be 10000+ and flats will cost more than 1.5 CR+ ... who's going to have this much money to spend after 5 years?
    I dont think there can be any logic behind judging rates after certain period. It was my opinion based on past experience. The rate of appreciation/ depreciation depends on market sentiments at different times.
    Last edited by Pethkar Projects; March 25 2010, 11:38 PM.
    Jitendra Pethkar | Pethkar Projects

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    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

      Originally posted by Jitu_Sir View Post
      Dear punerebuyer,
      You can certainly pray for it...
      what can i say... why would one pray for rates increasing if one is a genuine buyer looking for a home? one would do that only if one is a builder or investor...

      I dont think there can be any logic behind judging rates after certain period. It was my opinion based on past experience. The rate of appreciation/ depreciation depends on market sentiments at different times.
      exactly, so there is no point is making this argument still you made it on your own. But the entire country (entire world) was observing that 2008-09 was a bubble formation which was burst.

      Sadly in reality India is still in recession but we have a state policy of generating / showing profits by squeezing people's opinions/needs... so its not a big surprise that similar ways get implemented in businesses (read: RE) in which state players (read: politicians) have direct/indirect financial interest.

      PRB

      P.S. do not take the last para personally... it is just a generic fact in India these days...

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      • Re : Samrajya, Pethkar Builders, Kothrud, Pune

        ref from another thread

        Originally posted by razer View Post
        Jitu_sir, could you please let us know from where you are quoting this?
        Thanks!
        Dear razer,
        It is an update that we received from Credai, Pune (formerly PBAP)
        Originally posted by razer View Post
        Thanks! I've read these articles in print. The question that we're trying to find an answer to is whether this tax is being applied retrospectively or not.
        Is this on agreements after April 1st, or since the tax was first levied (2007?). If that's the case then all those who have purchased since 2007 will have to pay 1% VAT.
        Originally posted by realacres View Post
        VAT is not retrospective. You can confirm this with your CFO or CA.
        Whether its retrospective or not is a genuine question and mainly depends on its interpretation.
        Jitendra Pethkar | Pethkar Projects

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        • Re : Samrajya, Pethkar Builders, Kothrud, Pune

          Hi Jitu_Sir,
          If the VAT applies to buyers in Samrajya who have already bought under construction flats, will you absorb the 1% VAT or pass it to the buyers?

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          • Re : Samrajya, Pethkar Builders, Kothrud, Pune

            Originally posted by amit3011 View Post
            Hi Jitu_Sir,
            If the VAT applies to buyers in Samrajya who have already bought under construction flats, will you absorb the 1% VAT or pass it to the buyers?
            Dear amit,
            We had already informed our buyers about VAT for which we take I-Bond from them. Hence if applicable buyers need to pay it. If VAT is not retrospective then no more I-bond required.
            But as per the update VAT is applicable for aggrements registered after 1st April 2010. So shouldnt be a concern for those who had already bought flats in undercons.
            Last edited by Pethkar Projects; March 26 2010, 09:11 PM.
            Jitendra Pethkar | Pethkar Projects

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            • Re : Samrajya, Pethkar Builders, Kothrud, Pune

              Tax Summary

              1. 3.33% Service Tax on payments made after 1st June 2010 (Probable date). Ready possession with completion excluded.
              2. 1% VAT on agg cost for agg. registered after 1st April 2010. (Confirm date). Ready possession as well as under construction included.
              Last edited by Pethkar Projects; March 26 2010, 11:51 PM.
              Jitendra Pethkar | Pethkar Projects

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              • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                Originally posted by Jitu_Sir View Post
                1. 3.33% Service Tax on payments made after 1st June 2010 (Probable date). Ready possession excluded.
                2. 1% VAT on agg cost for agg. registered after 1st April 2010. (Confirm date). Ready possession as well as under cons included.
                these dates indicate that existing buyers in Samrajya wont have to pay extra which is a good news for them..

                honestly, Jitu you can think of NOT passing this additional taxes to the new buyers.. your project is already overpriced and this might further reduce your prospective clients...

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                • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                  Originally posted by punerebuyer View Post
                  honestly, Jitu you can think of NOT passing this additional taxes to the new buyers.. your project is already overpriced and this might further reduce your prospective clients...
                  Dear punerebuyer,
                  I do agree that these additional levies are a concern for us as they are directly affecting the future sales. But one thing I can assure you is, buyers in Samrajya consider it to be VFM rather than overpriced and till people find it so we shall see more conversions from prospective clients.
                  We are capable to ensure that required sales happen. We had done if before.
                  Last edited by Pethkar Projects; March 26 2010, 11:18 PM.
                  Jitendra Pethkar | Pethkar Projects

                  Comment


                  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                    Originally posted by Jitu_Sir View Post
                    Dear punerebuyer,
                    I do agree that these additional levies are a concern for us as they are directly affecting the future sales. But one thing I can assure you is, buyers in Samrajya consider it to be VFM rather than overpriced and till people find it so we shall see more conversions from prospective clients.
                    We are capable to ensure that required sales happen. We had done if before.
                    i think many end users (including enduser) already think that the project is not VFM at the current rates itself.. this additional taxes will add 2-3 more lacs from the end user.

                    but of course, it is your business and you are free to call it a VFM to woo buyers... i think you should put that in your ad...

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                    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                      reason USAis in deep recession (i feel builders /brokers/banks/government)

                      Facts of USA
                      builders /brokers/banks just kept USA real estate prices high up in the air from 2002 to 2007 .finally this bubble burst with big giant mortgage banks like countrywide and Lehman bro's fall in to bankruptcy and people trap with difficulty to pay EMI after 10 years of purchase. fact is in usa loan $ is 4.5 fixed still people went homeless after 10 years not kidding
                      IT took 10 years to burst bubble in USA
                      Fact is people cannot have consistency in earning for 20 years and pay High EMI forever your life

                      for me i live in usa from last 8 years and i won’t pay 5600 rs (130$/sqft) that too on built up (20% loading BS crap with 10L here and there with parking Free lol one more crap ) for some crapy small size apartment
                      4 slums in 3 4 kms around your area (you can see Google earth to see slums :-) )
                      i think buyers lost confidence in them self and that’s y they are going with this money minded builders who can take your underwear also if they can make money out of it ...... :-)
                      wake up guys and look around . people lost all there money /house /earning /jobs in this 3 4 years dont pay your hard earn money to some BS guys and we talk about recession is over it will not be over so easily
                      thanks



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