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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

    For a customer who has taken max home loan (85% to 90%), 2.5% extra represents a serious cash flow problem.
    This will greatly customers who have already taken home loan to buy under construction property and are now faced with paying 2.5% out of their own pocket, because home loan cannot be modified.
    Projects where construction has just started will have max impact. Builder cannot also reduce the price now since the price is mentioned in agreement and home loan docs.

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    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

      Originally posted by abeerbagul View Post
      For a customer who has taken max home loan (85% to 90%), 2.5% extra represents a serious cash flow problem.
      This will greatly customers who have already taken home loan to buy under construction property and are now faced with paying 2.5% out of their own pocket, because home loan cannot be modified.
      Projects where construction has just started will have max impact. Builder cannot also reduce the price now since the price is mentioned in agreement and home loan docs.
      I don't think someone will buy 70 lakhs rupees flat at 85% loan. All must be rich people having at least 30/40 lakh in savings and 15 to 20 lakh package or US job so 2.5% should not be a problem.

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      • Re : Samrajya, Pethkar Builders, Kothrud, Pune

        Originally posted by mahesh pune View Post
        I don't think someone will buy 70 lakhs rupees flat at 85% loan. All must be rich people having at least 30/40 lakh in savings and 15 to 20 lakh package or US job so 2.5% should not be a problem.
        This is exactly the impression I am getting. Probably we are not that "rich"

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        • Re : Samrajya, Pethkar Builders, Kothrud, Pune

          Originally posted by harishkulks View Post
          This is exactly the impression I am getting. Probably we are not that "rich"
          And *these* ppl, earning in dollars are fueling RE in India. Builder are having ball and why would then not have .

          Basically buying 70 Lakhs flat needs 3 years working onsite, with each year *savings* in INR anywhere between 10/18 Lakhs. For 3 years, it comes to about 30/40 lakhs by conservative calculation. Come to India after visa expires; burn the cash + get remaining amount as home loan and there you have 70 lakhs flat.
          Last edited by sakelkar; May 12 2010, 02:58 PM.

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          • Re : Samrajya, Pethkar Builders, Kothrud, Pune

            Originally posted by sakelkar View Post
            And *these* ppl, earning in dollars are fueling RE in India. Builder are having ball and why would then not have .

            Basically buying 70 Lakhs flat needs 3 years working onsite, with each year *savings* in INR anywhere between 10/18 Lakhs. For 3 years, it comes to about 30/40 lakhs by conservative calculation. Come to India after visa expires; burn the cash + get remaining amount as home loan and there you have 70 lakhs flat.
            There are other ppls as well who buy flat other than IT guys...
            I don't know why ppls in this forum think that ONLY IT guys can buy a 70 lacs flat....

            Jitu sirji, do you have a rough estimate that how much % of flat buyer in Samrajya are from IT background...I Bet this figure will be less than 50%
            Last edited by ash7979; May 12 2010, 03:09 PM.
            Cheers,
            -Ashish

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            • Re : Samrajya, Pethkar Builders, Kothrud, Pune

              Originally posted by ash7979 View Post
              There are other ppls as well who buy flat other than IT guys...
              I don't know why ppls in this forum only think about IT guys ONLY can buy a 70 lacs flat....
              Dear ash7979,
              I agree with you. There are buyers from other streams as well.
              Originally posted by ash7979 View Post
              Jitu sirji, do you have a rough estimate that how much % of flat buyer in Samrajya are from IT background...I Bet this figure will be less than 50%
              Less than 20%
              Jitendra Pethkar | Pethkar Projects

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              • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                Originally posted by Jitu_Sir View Post
                Dear harishkulks,
                We are trying to work out on base price as there is no scope in taxes. If done then it will be on margins without compromising on quality/ amenities. We had provided specs/ amenities which we feel are more practicle/ durable and a must for flat purchaser in a society of this scale. I would like to know which of the specs/amenities do you think are technically not usable so that we can evaluate in future.

                I can understand your concern and glad to see your genuine interest in Samrajya.
                Jitu,

                It is an open secret that current RE prices are not function of material cost, tax outgo, construction service cost, amenities provided etc.

                They are the function of sizable dollar earning IT based middle class, their income profile etc. Otherwise builders would not have held sales presentation in New York City, Chicago and California.

                By very rough estimate, any flat in Pune, should not cost more than 30-40 Lakhs, depending on where it is located.

                I quite well understand the market forces determining the price; but giving an explanation like what you have given makes us feel we are naive. BTW I do not expect builders to lower the prices one bit

                Sorry about being little harsh but my honest and blunt opinion

                Thanks,
                Sameer

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                • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                  Originally posted by ash7979 View Post
                  There are other ppls as well who buy flat other than IT guys...
                  I don't know why ppls in this forum think that ONLY IT guys can buy a 70 lacs flat....

                  Jitu sirji, do you have a rough estimate that how much % of flat buyer in Samrajya are from IT background...I Bet this figure will be less than 50%
                  It is unfortunate that, RE prices are all determined by purchasing power of IT guys. I do not wish highlight any particular group.

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                  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                    Service Tax Update:

                    Even after passing of the Finance Act, for the Service tax provision to come into play a separate Central Government Notification is required.
                    The same is also mentioned in the memorandum of the bill where it says " The above changes will come into effect from a date to be notified, after the enactment of Finance Bill, 2010."

                    # Service TAx will be applicable only after the notification date and is not yet applicable from 8th May2010 as mentioned before.
                    Jitendra Pethkar | Pethkar Projects

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                    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                      Originally posted by Jitu_Sir View Post
                      Dear ash7979,
                      I agree with you. There are buyers from other streams as well.
                      ITG buying in Samrajya
                      Less than 20%
                      I was sure about less than 50%, but its good to know less than 20%
                      Still ITG bashing will go on.

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