Hi folks,

As I earlier mentioned I am going to visit Pethkar - Samrajya today. I am finalizing a 2bhk unit there. The last rate quoted was Rs. 4200. Lets see how much they reduce the price today. If anyone has more info on this project/builder then kindly share. :D
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  • Originally Posted by enduser
    Jitu Sir, do you intend to expand your Samrajya in other cities as well?

    I was staying in Vanaz,kothrud (near Samrajya project) for a few months. I came to know that the Samrajya project's land belongs to Pethkar's only. Then Pethkars became the builders to develop the land. So, if Pethkar's have any land bank in other cities, they may build a 'Samrajya' there also!!
    :)
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  • Originally Posted by amit3011
    I was staying in Vanaz,kothrud (near Samrajya project) for a few months. I came to know that the Samrajya project's land belongs to Pethkar's only. Then Pethkars became the builders to develop the land. So, if Pethkar's have any land bank in other cities, they may build a 'Samrajya' there also!!
    :)


    Dear amit,
    your are right. we own this land of 40acres in which we are developing township called as 'Balwantpuram' in the name of our forefather - late Appa Balwant Mehendale (a sardar in peshwa's regime), samrajya being a part of it.
    Intention is not to go on building concrete jungle if land bank is made available but try to deliver good quality homes.
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  • Hello Jitu

    Hello Jitu
    I have a question - As you said you own the land long back then why the rate is so high? You said land cost is one parameter for high rates and you must have got this land in penults rate.

    In this scenario even if you sell the flats at around 3k per. Sq. ft. you will make huge profit then why you are asking above 4k?
    I think builder should restrict themselves to some profit. We are not saying don’t make profit but some limit should be there.
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  • Hello Jitu

    Hello Jitu
    As you said you own this land long back so you must have got this land in peanuts rate. In this scenario even if you sell the flats at around 3k per. Sq. ft. you will make huge profit then why you are asking above 4k? We are not saying don’t make profit but some limit should be there
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  • Vastu compliant homes

    Thanks for that info amit & Jitu.

    Jitu,
    Now coming back to RE, I am a firm believer in Vastushastra (this subject is though subjective). I would like to know why do builders don't build according to Vastu principals? There is a project in Chennai by L & T Realty which is vastu positive & great efforts were taken by the architects to deliver such type of houses. Most of the buyers or builders think that Vastu compliant means doors being east-west (many don't even know east facing means west entry).

    You having a land parcel in acres, it is easy to built the project & floor plan as well as the layout taking these principles into account.

    In worst possible situation, you can atleast tell your architect not to let the North-East direction of any flat go in bath/toilet, kitchen or a cut due to duct etc. as this is one of the biggest vastu-dosha.

    Me & some of my friends rejected most of the projects just becuase they were not even 50% vastu compliant.

    Hope that in your future phases, you will take this into consideration.
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  • Originally Posted by realacres
    Thanks for that info amit & Jitu.

    Jitu,
    Now coming back to RE, I am a firm believer in Vastushastra (this subject is though subjective). I would like to know why do builders don't build according to Vastu principals? There is a project in Chennai by L & T Realty which is vastu positive & great efforts were taken by the architects to deliver such type of houses. Most of the buyers or builders think that Vastu compliant means doors being east-west (many don't even know east facing means west entry).

    You having a land parcel in acres, it is easy to built the project & floor plan as well as the layout taking these principles into account. moreover why its difficult to make ALL flats as per vastu is because of shape & size of plot. everyone knows that mostly buildings have 4 or 6 flats per floor. hence out of the flats per floor there has be 1 or 2 untis which doesnt comply with vastu. architect finds it difficult to rearrange the layout only for those 2 units as he has to give due consideration for service lines, ducts, staircase, etc.
    in samrajya we had assured that the main entrance of ALL flats remain as East or West which i admit that doesn't mean to be complete vastu compliant and we never say it tht our flats are vastu compliant. most of the customers now a days are jsut concerned with the direction of main door.

    In worst possible situation, you can atleast tell your architect not to let the North-East direction of any flat go in bath/toilet, kitchen or a cut due to duct etc. as this is one of the biggest vastu-dosha.

    Me & some of my friends rejected most of the projects just becuase they were not even 50% vastu compliant.

    Hope that in your future phases, you will take this into consideration.


    Dear realacres,
    its true that many clients make their decision after seeing the compliance of vastushastra for a particular flat. the basic reason why a builder cant make ALL flats as per vastu is bcoz of various size and shapes of plot. we know that each building has normally 4 or 6 flats per floor. hence if 1 flat is in complaince with vastu then remaining 3 cant be fully complaint. this is bcoz architects give more weightage to service lines, ducts, staircase, lifts etc.
    in samrajya we hav just ensured that the main door is either east or west, which doesnt mean that the flat is 100% vastu compliant. but many customers are just concerned for the location of main door.
    your suggestions and recommendations will be taken into consideration in our future phases.
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  • Originally Posted by thepune1576
    Hello Jitu
    As you said you own this land long back so you must have got this land in peanuts rate. In this scenario even if you sell the flats at around 3k per. Sq. ft. you will make huge profit then why you are asking above 4k? We are not saying don’t make profit but some limit should be there


    Well said. There is no limit for these builders. This is nothing but plain robbery. Just because of location these builders can ask any price. And then create panic only few flats are available????
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  • Originally Posted by Punehousehunter
    Well said. There is no limit for these builders. This is nothing but plain robbery. Just because of location these builders can ask any price. And then create panic only few flats are available????


    Its not builders to blame. They are driven by unlimited greed. Its buyers. They have to think if it is not priced right, stay away, which is happening slowly now.
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  • I dont favor builders and believe they charge too much money, but I dont buy the argument that if land purchased at peanuts rate, they should calculate rate at purchase rate. The land cost should be current rate regardless if its purchased recently or owned for long time.

    According to your argument, should a jeweler who purchased Gold when it was 8000, should sell jewelery now at 8000+5% labour charges ?

    Originally Posted by thepune1576
    Hello Jitu
    As you said you own this land long back so you must have got this land in peanuts rate. In this scenario even if you sell the flats at around 3k per. Sq. ft. you will make huge profit then why you are asking above 4k? We are not saying don’t make profit but some limit should be there
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  • To be precise, the profit margins needs to be fixed. No point in having 400% profit margins with goods not getting sold. Rather than selling 10 flats at 100% profit, I would sell 100 flats with 10% profits.

    I always believe that the money should keep rotating else it stinks.
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  • I agree that land should be sold at current rates. But in case of gold, there is an efficient price discovery mechanism for raw gold.
    In the previous sentence, the most important word is efficient. Efficient means quick, hassle free, and having low transaction costs.
    Trading in gold (either in physical form of 24 carat biscuits or in demat form on the stock exchange in the form of gold mutual fund units) is very quick, efficient and has low transaction charges.

    Do we have the same efficient trading platform for land? No. In case of land, land prices are decided by PBAP which holds or controls 80% of the available land in Pune. There is zero visibility into actual land transactions.

    Example: I found out two months earlier that land rates in Dahanukar Colony are approx 2500 Rs per sq ft (for medium size plots 20000 sq ft). But can I back up my statement with data? No. In case of gold, stocks, I can back up my statements with the closing prices on that day.

    So even taking 3000 per sq ft + 1500 per sq ft for development, you get 4500 per sq ft for FSI, which is a better rate than 4800 for built up (FSI is nearer to carpet than built up).
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  • Dear all,
    even though we own this piece of land, one cant forget the priceless efforts taken by the owner to fight against the government for not less than 15 years to clear the reservation over the land. according to me the land cost should be evaluated as per the current market rates in nearby vicinity. as mentioned by Mr. abeer in some previous post, land costs in dhanurkar itself is approx 3000 psft then how come one expect the price of flat same as that of land.
    we have a product with a price tag. if someone feels its costly he can refrain from purchasing but if one feels its reasonable he goes for the deal. if noone purchases then we need to revive and revise our rates.
    every individual as well as company wants to grow and multiply its business. its upto everyones perception what they feel about it.
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  • Hi Jitu,

    Please do not take the comments in this thread personally :). I am certain you are providing a quality construction and good specification and amenities.

    Most of the comments here are not against the quality but against the price, that too because people like me can never afford to buy a 2 BHK in your project, even though we are well settled in our IT careers.

    Also, you must have encountered lots of difficulties in getting the commencement certificate for the project, since the approval process in India is very stupid.

    But try to look from eyes of a middle class consumer. The main criteria are quality, location and affordability. The affordability has gone for a six in recent years.
    You may not agree since you still have 4-5 flats to sell.
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  • The affordability is depending on individual and not on collective people's money. The builders will not be building homes for people's affordability,never!!
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  • Originally Posted by amit3011
    The affordability is depending on individual and not on collective people's money. The builders will not be building homes for people's affordability,never!!



    I absolutely dont agree with you here. If people cannot afford they cannot buy, you mean to say builder will build only for constructing the building? NO they want to sell it too. Though they will try to maximize their profit, that is why the price is balanced by demand vs supply in the long run.

    Prices cannot stay unaffordable to majority for ever, price will correct for good.
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