hi,
Does any body has any idea about new projects by Vanshaj - Rane Group and the rates. Know that they will be doing the construction for Insignia project, but are their any other projects. Their site lists projects in Bavdhan and Balewadi but not sure if the site is updated as I can see old info. abt their Vanshaj(Lara) prestige apts. Also their website states they sell only Ready Possession apts.

Thanks,
M
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  • Originally Posted by helmak
    OK playing devil's advocate here.
    This is true in many projects. Builder may have only few flat available but he has investors who have told him that he/she would like to sell his/her flat at certain rate. eg investor bought at 2500/- wants to sell at 3100/- (his agreement is not done) Current rate of the builder is 3300/-. He sells the new buyer at 3300/- gives 3100/- to the investor.


    Layman question:

    How investor can hold flat without agreement? What’s the guarantee that builder will not ditch him. I am wondering when investor pay money to builder is there any separate paper work? or it’s based on mutual trust. I doubt about trust as recent incidents in builders family stress more about their lack of integrity and honesty.
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  • Originally Posted by informsantosh
    Layman question:

    How investor can hold flat without agreement? What’s the guarantee that builder will not ditch him. I am wondering when investor pay money to builder is there any separate paper work? or it’s based on mutual trust. I doubt about trust as recent incidents in builders family stress more about their lack of integrity and honesty.


    they r nt small time home buyers like most of us and definitely not the ones, who visit iRef and gauge the market prices before making decisions :) !! They have immense holding power and most of the times, are friends/mutual acquaintances of the builder..but it will be demeaning to term all of them as goons..i know of a VP of a reputed company used to hold 6 flats in Padmavilas on Baner-Pashan Link Road.
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  • Originally Posted by informsantosh
    Layman question:

    How investor can hold flat without agreement? What’s the guarantee that builder will not ditch him. I am wondering when investor pay money to builder is there any separate paper work? or it’s based on mutual trust. I doubt about trust as recent incidents in builders family stress more about their lack of integrity and honesty.


    Originally Posted by Saurabh01
    Same thing also happen with me. Once i told we are looking for 3-4 flats, they told me "We have some investor flats and can give to you"


    OK playing devil's advocate here.
    This is true in many projects. Builder may have only few flat available but he has investors who have told him that he/she would like to sell his/her flat at certain rate. eg investor bought at 2200/- at pre-launch by paying full down. Launch price at that time was 2600/- to general public. Now investor wants to sell at 3100/- (his agreement is not done) Current rate of the builder is 3300/-. He sells the new buyer at 3300/- and gives 3100/- to the investor.

    You pay 3300/- :(
    Investor makes 900/- psft :)
    Builder gets 200/- for selling the investor's flat.

    These numbers are randomly picked but in actual investment scenario, the numbers are crunched so that investor makes at least 20-30% per year return if not more

    This is done routinely in many complexes where builder wants to ease out his risk by privately selling certain number of flats to generate adequate money to comfortably start the project and not worry about booking response. I know the tricks as I have been a semi-pro investor.

    Such scenario requires great deal of trust and past experience with the builder or ability to twist arm and get money from the builder in adverse situation. Many investors opt for a Kattcha agreement on Rs 500/- stamp paper. It is the risk he takes for reward. If the market heads south the investor is hammered and jumps out before anyone else cutting his losses.
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  • Originally Posted by chinmay686
    they r nt small time home buyers like most of us and definitely not the ones, who visit iRef and gauge the market prices before making decisions :) !! They have immense holding power and most of the times, are friends/mutual acquaintances of the builder..but it will be demeaning to term all of them as goons..i know of a VP of a reputed company used to hold 6 flats in Padmavilas on Baner-Pashan Link Road.


    As much as I do not agree with bulk purchase investing... I would not label that as goons. Look it is the same principle as buying stocks. Buy low sell high. Most of the RE folks in world have done it. Donald Trump or Late Sam Lefrak from NY/NJ did the same thing. They went to rundown areas in NY, NJ (Jersey City) and Phili bought the properties there, asked the state and city to pitch-in in form of benefits and police security, and infra. then develop these area and selling at premium price.
    Anyone who knows Montgomery Ave at Hudson river end in jersey city 20 years back and compare it with today knows what I am talking about.
    Its all about opportunity. Unfortunately speculation in RE does not help end user. Like they say in Wall street... Bulls make money , Bears make money but Pigs (people without market opinion) get slaughtered.
    Ok please don't get me wrong.. I am not saying this is the right or wrong thing to do in the final interest of end user. But that is just the way things are in this greedy world. Me too counted but only as a small drop in the ocean.
    I think this debate will need a separate thread. :)
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  • What ever builders do they will continue to do that...one day they will say only one flat available as per their marketing gimmick...if they need urgent money they may open new flats for sale else they will wait for the price to go up as per their expectations..we buyers cant do anything other than waiting ....its bulder dominating RE and will be like that for years to come...

    builders says these days....tu nahi to woh sahi woh nahi to koi aur sahi...they will find buyers all the times...hope day will cum soon when we buyers will be able to say the same thing to builder community,....tu nahi to woh sahi woh nahi to koi aur sahi..


    Originally Posted by helmak
    As much as I do not agree with bulk purchase investing... I would not label that as goons. Look it is the same principle as buying stocks. Buy low sell high. Most of the RE folks in world have done it. Donald Trump or Late Sam Lefrak from NY/NJ did the same thing. They went to rundown areas in NY, NJ (Jersey City) and Phili bought the properties there, asked the state and city to pitch-in in form of benefits and police security, and infra. then develop these area and selling at premium price.
    Anyone who knows Montgomery Ave at Hudson river end in jersey city 20 years back and compare it with today knows what I am talking about.
    Its all about opportunity. Unfortunately speculation in RE does not help end user. Like they say in Wall street... Bulls make money , Bears make money but Pigs (people without market opinion) get slaughtered.
    Ok please don't get me wrong.. I am not saying this is the right or wrong thing to do in the final interest of end user. But that is just the way things are in this greedy world. Me too counted but only as a small drop in the ocean.
    I think this debate will need a separate thread. :)
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  • Originally Posted by manu1981
    we buyers will be able to say the same thing to builder community,....tu nahi to woh sahi woh nahi to koi aur sahi..

    This is true in the NCR. NCR builder have competition because most of builders have a public company. I have been many place but never seen such an organized Builder as in Pune.
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  • So did you book at Vanshaj Gardens. If so share your experience with the builder. How is the project?
    Originally Posted by Madhurg
    Yeah Sunita - I mean Vanshaj Gardens on Sus Road and I will check the Bavdhan property as well. I am keen to get a ready possession or near ready possession. Earlier I was planning to go for PS area GK builders. He is just ok and somehow its not appealing.
    Lets see how this enquiry turn out !!

    Regards
    Madhur
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  • I checked the Vanshaj Kiona last week.. Liked the project very much. Main advantage is that there are many schools near by. Only issue is that the possesion is still more than a yr away .. sept 2011... which again has a chance to slip too...
    Originally Posted by sunita.chhetri
    Do let us know about Vanshaj Gardens...

    Am going to inquire about Vanshaj Kiona at Balewadi this weekend.
    Lets see how this goes.
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  • Originally Posted by dev_pune
    I checked the Vanshaj Kiona last week.. Liked the project very much. Main advantage is that there are many schools near by. Only issue is that the possesion is still more than a yr away .. sept 2011... which again has a chance to slip too...

    2BHK possession was in Oct 2011, and 3BHK was also supposed to be at the same time, but is delayed and tentatively it could be Mar 2012 now.
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