Announcement

Collapse
No announcement yet.

Samrajya, Pethkar Builders, Kothrud, Pune

Collapse
X
Collapse

Samrajya, Pethkar Builders, Kothrud, Pune

Last updated: May 1 2015
2792 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

    The crook will be be charging 5% VAT ....that is for sure....
    All builders are same....they will come with some plan to earn more money from common man.....
    Imagine, apartments that have been sold by the builder at premium rates long ago....now giving interest money (in terms of VAT paid to the government - VAT recovered from apartment owners)...

    Comment


    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

      Jitu_Sir,
      Understood. But how much difference in % from builder to builder is possible for same area apartment booked in the same quarter and with similar amenities? It should be within range +/- 20% - just a guess. Now we have cases where one builder is asking for around 1% and other one asking for 4%. Experts have clearly indicated that buyer if at all have to pay due to specific VAT clause in the agreemet - he should not pay more than what is required as per construction cost.

      Originally posted by Jitu_Sir View Post
      Dear Manav_2010,
      Every builder has different data and hence his VAT liability will not be necessarily same as others. Also this VAT liability depends on the way he has carried out his business and kept all records.

      Comment


      • Re : Samrajya, Pethkar Builders, Kothrud, Pune

        Originally posted by abeerbagul View Post
        So will Pethkar Builders be charging VAT on 5% of agreement value or they will be charging 1% on construction cost, assuming all materials such as cement, steel, have been purchased with VAT bill?
        Dear abeerbagul,
        Currently we are collecting all requisite data for the period 20.06.2006 till 31.03.2010. It's substantial and will take considerable time. Once the data is in place will workout VAT based on methods suggested by Sales tax dept. After that I can share the % value it comes to.
        Jitendra Pethkar | Pethkar Projects

        Comment


        • Re : Samrajya, Pethkar Builders, Kothrud, Pune

          Originally posted by hudson270 View Post
          The crook will be be charging 5% VAT ....that is for sure....
          All builders are same....they will come with some plan to earn more money from common man.....
          Imagine, apartments that have been sold by the builder at premium rates long ago....now giving interest money (in terms of VAT paid to the government - VAT recovered from apartment owners)...
          Dear hudson270,
          As quoted earlier I look upon this as liability & not an opportunity. While I addressed building representatives I mentioned it that this calculation will be shared with them, collection shall be done in separate account whose statement will be also shared. Moreover to ensure total transparency, photo copies of challans of vat paid to the sales tax govt will be also shared.
          Can't comment on % right now, but one thing is sure that it won't be 5%.
          Jitendra Pethkar | Pethkar Projects

          Comment


          • Re : Samrajya, Pethkar Builders, Kothrud, Pune

            Originally posted by tushart View Post
            Jitu_Sir,
            Understood. But how much difference in % from builder to builder is possible for same area apartment booked in the same quarter and with similar amenities? It should be within range +/- 20% - just a guess. Now we have cases where one builder is asking for around 1% and other one asking for 4%. Experts have clearly indicated that buyer if at all have to pay due to specific VAT clause in the agreemet - he should not pay more than what is required as per construction cost.
            Dear tushart,
            Thats a tough question. It all depends which method the the builder opts and how he has maintained his records.
            Jitendra Pethkar | Pethkar Projects

            Comment


            • Re : Samrajya, Pethkar Builders, Kothrud, Pune

              Originally posted by NG2012 View Post
              I agree. Mr Pethkar has done a great job here on this forum. Everything has two sides and as buyers we are always going to be suspicious of builders. Builders are in this business to make money and would want better returns on their investments just like all of us.

              Mr Pethkar, we may write many things against you and we may vent our pentup anger of unaffordable RE on you. But please understand that you have respect of many of us for showing the courage and restraint of explaining yourself on this forum. In this age of information, you have done a great job in explaining many things.

              I am sure your action will payoff well in your ventures and you will earn trust of your clients. More often than not earning money is easy than earning respect and you are well on your way to earn both. I also hope that you don't give up writing despite all the attacks and come out as a trustworthy human.

              Good job and thanks a lot for your efforts.
              Dear NG2012,
              Really appreciate your encouraging words. Today RE has become a risky venture and involves tough challenges to achieve the targets because of unorganised sector. Many times things doesn't go as decided, and alternative methods are to be opted out. I do agree that builders make good money out of it but then risk & management involved is also comparatively sizeable.
              I take criticism in a positive way to improve in my shortcomings. Buyers and people in general have complete right to raise fingers, to which I try my level best to justify my side while sometimes ignorance is a bliss.
              Jitendra Pethkar | Pethkar Projects

              Comment


              • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                I understand that Jitu_Sir is not disclosing the calculation methods on the forum (and he doesn't have to). But what I have seen so far is

                - VAT is applicable for construction costs for individual flats (excluding amenities) and hence one should not consider agreement value directly. Agreement value consists of common facilities and amenities as well.
                - Generally the pricing formula is land cost + construction cost (all inclusive) + builder margin. Now the fact is that Pethkar's have actually inherited the land and not purchased from the market, the land cost in reality is negligible for them (maintenance and legal costs are peanuts compared to the land costs in the market).

                So now the challenge is for calculating VAT based on construction costs, they will have to disclose the following

                - Appraised value of land cost
                - Actual construction cost of the buildings (and hence individual flats) which also gives a fair idea about construction costs about common amenities.
                - With the above two points, people can guess the margins also.

                Samrajya (and all) buyers should consider this and review the builder's calculations seriously to understand this. I think this is an opportunity for buyers to ask the right questions to the builders.

                Comment


                • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                  For LPG, installation charges are paid to the company looking after the piped gas, which is around INR 1500, which includes the copper pipe.
                  It will be best if people can change service provider of LPG.

                  And as far as chindhi-giri is concerned, many builders like Mittal, Pride etc. do things like taking compulsory connection from xyz operator. Mittal has his own bsnl franchisee & doesn't give combo data plans. The plans available are generally the ones in which franchisee gets more. Laundry, milkman too is decided by several builders, which is a fact & only after resistance from buyers, it is withdrawn. This is nothing but chindhi-giri.

                  As far as Samrajya is concerned, what I don't understand is why take advance maintenance from buyers to whom amenties are not provided. L5 as mentioned above is 6 yrs old this means, they paid maintenance for virtual amenities.
                  If piped LPG decision can be taken by soc, one can see if it is possible through dolphin (who are looking after new phases).

                  And as far as water is concerned, then it is the builders' job till society is formed. There was/is water probs in Balewadi but the builder of Supreme Palms, ensured that through water tanker, & allied sources, the taps never ran dry. Water at the end of the day depends upon the clout of the builder & his willingness to spend more than market rate for tankers.

                  VAT thing will be cleared only after it is collected from builder. Lets see what happens then on this thread.

                  What is shocking here though is in entire plot of samrajya, no water underground . This is indeed serious.
                  If you are happy, you are successful.

                  Comment


                  • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                    Originally posted by realacres View Post
                    What is shocking here though is in entire plot of samrajya, no water underground . This is indeed serious.
                    May be there is oil/gas field below it

                    Comment


                    • Re : Samrajya, Pethkar Builders, Kothrud, Pune

                      All buyers assume that a big project with more than 500 flats will have at least one functioning borewell.

                      This is because the land mass needed to support so many flats is a few acres.

                      As a builder, the first thing I would have done before starting construction is run 8-10 borewells all over the place in the hope that at least one hits water. The remaining dry borewells should be used in rain water harvesting to pump rain water back into the water table.

                      Not having any borewell in such a huge project is a huge blunder at architectural / design level itself.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X