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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

    Btw, let's say thank you to Abeer Bagul for the sting operation!!!
    Originally posted by sakelkar View Post
    Spot on

    Black chaps want to some safe money vaults and builder provider these. They are probably not much interested on RoI etc or probably are not smart enough to realize real returns.

    I think Jitu inadvertently has slipped the cat out of bag. Now no one who is frequenter here..will eve believe from now on builder's sold out theory!!!

    Comment


    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

      Dear sakelkar, maheshk2k,
      It is good observation by abeer. But as i said the availability status are the flats on offer. if there are financers/ investors involved then there has to be some flats on hold which are opened at higher rates. There is nothing confidential about it.
      Moreover I dont think that buying decision depends only on availability status. if a person likes a particular unit and could afford he goes for it, and if not then no further discussion till his choice of flat is on offer.

      Happy Republic Day to All.
      Jitendra Pethkar | Pethkar Projects

      Comment


      • Re : Samrajya, Pethkar Builders, Kothrud, Pune

        I'm sorry to say this, Mr. Pethkar.
        This exactly is the reason which has caused biggest artificial bubble in the world here in Pune. Yes, I dare to say the world!
        Why would anyone buy at any price just because s/he can afford?
        It's about how much any commodity is worth. Not about how much one can afford.
        Just because I can afford to pay 100 Rs, I can't pay 100 Rs for a bunch of spinach!!!

        Originally posted by Jitu_Sir View Post
        Dear sakelkar, maheshk2k,
        It is good observation by abeer. But as i said the availability status are the flats on offer. if there are financers/ investors involved then there has to be some flats on hold which are opened at higher rates. There is nothing confidential about it.
        Moreover I dont think that buying decision depends only on availability status. if a person likes a particular unit and could afford he goes for it, and if not then no further discussion till his choice of flat is on offer.

        Happy Republic Day to All.

        Comment


        • Re : Samrajya, Pethkar Builders, Kothrud, Pune

          Originally posted by maheshk2k View Post
          It's about how much any commodity is worth. Not about how much one can afford.
          Dear maheshk2k,
          Worthness of a property is a relative term and is different for different people. Affordability comes next. I agree with you that something worth for one person cant be necessarily worth from your point of view.
          Jitendra Pethkar | Pethkar Projects

          Comment


          • Re : Samrajya, Pethkar Builders, Kothrud, Pune

            I am not against investors / financiers. They are absolutely essential for any project. What we need is transparency.
            It is now legally mandatory for builders to disclose if some bank is financing the project, because if there is any lien on the project, customers have the right to know.

            Now investors are not "owners" of the flat, they have given a loan to the builder against security of the reserved flats, and as such they have a lien on the project. These liens should be disclosed to genuine buyers in the project, at the time of booking itself.

            Now if the investors do not expect the builder to give back the loaned money, they become de-facto owners of the flats, and then if those flats are being sold, they should be sold as "resale". And resale flats never get the same rates as builder flats

            Nothing against Jitu, I guess this is just a usual practice in this business, and there are much worse transactions than this which we are certain Jitu will never do.

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            • Re : Samrajya, Pethkar Builders, Kothrud, Pune

              Originally posted by abeerbagul View Post
              Now investors are not "owners" of the flat, they have given a loan to the builder against security of the reserved flats, and as such they have a lien on the project. These liens should be disclosed to genuine buyers in the project, at the time of booking itself.

              Now if the investors do not expect the builder to give back the loaned money, they become de-facto owners of the flats, and then if those flats are being sold, they should be sold as "resale". And resale flats never get the same rates as builder flats .
              Dear abeerbagul,
              Since the funding is done on mutual trust there is no document for the claimed flats. Its a loan where the principal amount is assured while the interest component depends on market conditions.
              Hence there is neither lien on the project nor resale of the claimed units.
              Jitendra Pethkar | Pethkar Projects

              Comment


              • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                Originally posted by Jitu_Sir View Post
                Dear abeerbagul,
                Since the funding is done on mutual trust there is no document for the claimed flats.
                Jitu

                We had a long discussion on the "trust" builders show on buyers... what i am seeing is for an investor, there is a mutual trust and no documentation is needed/done... but for a genuine buyer even after approved loan and registration / agreement documentation, builder cannot show any trust till the last penny is paid but buyers need to trust on the builder words for completion dates.. (in your case, completion of amenities).

                L6 users are going to get amenities after the entire project is completed and now L7 is delayed but L6 residents have paid all the amount during possession and will have to wait till next year for the amenities... are you compensating them for this delay?

                Comment


                • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                  Originally posted by RAJESHP View Post
                  ohhh.. 20-30% less. Anyways... lets calculate with this discount.

                  lets say 25% discount on price of 5800 -> 4350 /sq feet. 3BHK area 1500 sq feet, Cost 65.25L No registration, stamp duty.

                  65.25L keep in FD 9% interest rate(some one mentioned he got 10.5% interest rate in 2008) you get 84.5L after 3 yrs. 10.5% interest rate you get 88L after 3 yrs.

                  Today's rate quote by builder 5600/sq feet. flat cost 1500 * 5600 = 84L

                  Is this profit or loss?

                  Anyways, these are numbers. Now interesting thing is builder will try to sell this flat to end user for total cost 93.7L

                  ONLY a blessed soul would buy this, when you can rent same for 15-17K/month.
                  You are assuming that the flat will sell in the first case. No, no, no, no, no. Cash is cash. For selling a second hand flat, you would have to sell at a price lower than what Mr. Pethkar decides for a new flat. So that amount is lower. Apart from this, cash always comes handy. Selling a flat in a very short duration is a nightmare. Plus, you need to pay the tax or invest it in some other property. Cash is always the king.

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                  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                    Mr. Pethkar, congratulations for being a near-honest builder in the entire builder fraternity. You are as honest as a builder can be. We are just guessing it on forums about the involvement of politicians in such schemes. Here is a question regarding the pressures a builder faces. Have you got any illegal demands (free flats) from any of our beloved politicians (e.g. uncle "cancered-still-not-dying" pawar, nephew "cast-card-player" pawar, corrupt "commonwealth" kalmadi etc. and scorpio owner servants of these people?) If you do, how do you avoid them?

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                    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                      Originally posted by Jitu_Sir View Post
                      Dear abeerbagul,
                      Since the funding is done on mutual trust there is no document for the claimed flats. Its a loan where the principal amount is assured while the interest component depends on market conditions.
                      Hence there is neither lien on the project nor resale of the claimed units.
                      Only Bank FD is the safest investment which assures you of your principal + some interest. In general bank FD, post office etc. is considered the safest and lowest return investment.

                      There is NO other investment, which assures you your PRINCIPAL amount.
                      If you really believe that investment in RE(flat) assures you of your PRINCIPAL, you are wrong. Investing in land, I can understand, would give you returns in long term, but flat; construction depreciates buddy after 5+ yrs

                      Anyways, the wait is almost over, see the fun through this year and 2012.
                      I was expecting the fun to start end of last year, but I guess some more time.....

                      Good luck to you.

                      Comment

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