Guys,

Just saw this blog entry from Ravi about the pre-launch offer from Megapolis Hinjewadi. They are offering 1BHK 16.87l and 2BHK 25.34L.

Has anyone booked yet? any detailed info? what are your views on this offer?

here is the link
http://ravikarandeekarsblog.blogspot.com/2009/12/megapolis-hinjewadi-phase-3-pune-are.html

thanks,
Ziblu
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  • Anyone knows the true availablity of flats?

    Thanks kedarp for your reply and valuable information.
    Guys anyone knows what is the true availability of flats in smart home? I called Mr. Pramode Fund and he told me that garden facing only few are remaining. One in A18-12th floor, one in A2-8th floors few on first 2-3 floors. He was not willing to disclose more rather not interested to talking much. I am interested in booking flat there. I have seen this site 3-4 months back. At present I am not in India. If nothing is available then I will have to go with A2-8th floor option.

    I don’t understand one thing that why all these sales people behave the same way? As if we are begging for flat...
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  • Originally Posted by rajajani3333
    Thanks kedarp for your reply and valuable information.
    Guys anyone knows what is the true availability of flats in smart home? I called Mr. Pramode Fund and he told me that garden facing only few are remaining. One in A18-12th floor, one in A2-8th floors few on first 2-3 floors. He was not willing to disclose more rather not interested to talking much. I am interested in booking flat there. I have seen this site 3-4 months back. At present I am not in India. If nothing is available then I will have to go with A2-8th floor option.

    I don’t understand one thing that why all these sales people behave the same way? As if we are begging for flat...


    They behave that way because people show their desperation to buy a flat even after knowing that the price is unreasonable or the fittings and amenities are not upto the mark.
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  • Originally Posted by rajajani3333
    I don’t understand one thing that why all these sales people behave the same way? As if we are begging for flat...


    Because people are literally begging. So what different behavior do you expect? This is called seller's market.
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  • Anyone knows the true availablity of flats?

    Anyone knows the true availablity of flats? Mr Pramod Fund told me that all non-garden facing flats are avaialble?

    I am interested in garden facing one.
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  • Originally Posted by rajajani3333
    Anyone knows the true availablity of flats? Mr Pramod Fund told me that all non-garden facing flats are avaialble?

    I am interested in garden facing one.


    This is an old trick to sell the non-preffered flats first and then open bookings for the garden facing ones at a premium later. Dont buy if they dont have what you want. Tell them flatly on the face and walk out.
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  • Originally Posted by rajajani3333
    Anyone knows the true availablity of flats? Mr Pramod Fund told me that all non-garden facing flats are avaialble?

    I am interested in garden facing one.


    For a change, I think what he saying is true. I personally checked their register that sales people refer. Booking for smart home is good. I haven't checked every possible entry, but it looks almost all garden facing flats are booked.

    However, I will suggest, if you are convinced about location, if you can increase your budget, buy in their premium project where there is very good progress in construction. Possession will be within 1 year. Smart home will take really long time to complete.
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  • When I went there a month back - the sample flat was getting ready of the premium. What is the rate that he is quoting in the premium flats now? What about the lease issue? The surrounding is still very dark and lonely
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  • Possession date for SmartHome is Jun 2012 now and rate is 2400 sqfit. For Premium apartment they are aksing 3200 sqfit now.
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  • Originally Posted by rajajani3333
    Possession date for SmartHome is Jun 2012 now and rate is 2400 sqfit. For Premium apartment they are aksing 3200 sqfit now.


    Have you got this rate on ? If you visit the site office, rate for premium apartment is 2800 per sqft including parking.
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  • DP road in Hinjewadi?

    Guys.. can any of you help me in below points regarding this project?

    1- Validity of one of the pros "Hinjewadi Baner DP road coming in this area"??
    Please let me know where can I find the Development plan of PCMC?

    2- Water supply in this project, which authority is responsible?

    3- Any idea on maintenance charges in Megapolis society?

    4- Is this under Grampanchayat or MIDC or PCMC ???
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  • Find my replies in blue.
    Originally Posted by get2sharad
    Guys.. can any of you help me in below points regarding this project?

    1- Validity of one of the pros "Hinjewadi Baner DP road coming in this area"??
    Please let me know where can I find the Development plan of PCMC?
    >> All DPs are pending. So, no point in relying on them. They were going to be approved by June end, nothing happened & issue is stuck over BDP. So, focus on today than tomorrow.

    2- Water supply in this project, which authority is responsible?
    >> The builder as it is a township.

    3- Any idea on maintenance charges in Megapolis society?
    >> Need to check with the builder as charges differ.

    4- Is this under Grampanchayat or MIDC or PCMC ???
    >> Falls under MIDC.
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  • Originally Posted by realacres
    Find my replies in blue.

    Also check that land is not in lease. One of my friend booked flat in Megapolis but in agreement it is written that land is in 99 years lease. I think MIDC has given this in lease to builder/developer.
    Request forum members to put points on Pros and Cons if land is in lease of 99 years...
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  • A summary

    I am highly confused reading the replies on this forum and have come up with below collective data. This is what I have studied for Megapolis till now:-

    Pros:-
    1- Definitely one of the very few available affordable projects in Pune.
    2- I have personally visited; work is running at fair speed, so not a scraped project for sure.
    3- IT Companies has started construction around it. Tech M completed, TCS has started too.
    4- Blue Ridge just 5 KM away are asking 3500/sqft rate(Megapolis is on 2500-2750/sqft floor wise raise)
    5- Project layout and floor plans are good.
    6- Water should never be a problem as government will have to provide it for IT companies... else it is as good as cutting water lines to Magarpatta city
    7- Roads to reach there are concrete and well planned (note that there are phase 4,5,6 too in plan), so I guess there would be fair enough ways to commute from there.
    8- In same rate, I am finding projects in Wagholi only... so I found Hinjewadi wins over wagholi in every aspect.
    9- If there will be no recession, 7 years down the line the project will be as expensive as Lavasa... in IT park but surrounded by hills.


    Cons-
    1- For now and always, its a dead end of Pune. Though there will be enough roads around it but it will still take around 1 hour to reach University circle only.
    2- Land is on lease of 99 years(though 99 years are enough)
    3- Water/maintenance cost may go very high as its a integrated township in Industrial area.
    4- Less residential activities, as again its in end of Pune, isolated by a huge IT part so never expect a market like pimpri, aundh, kothrud etc.
    5- My personal experience is, that most of the bookings are from Mumbai ppl, seeking for tenants in this area.... in this case supply can be more than demand and you may end up having a 30L flat with lock on door.
    6- Possession is after almost 2.5 years, means a lot of money will go as pre-emi - no decreament in principle amount(for ppl like me who are thinking of taking home loan)
    7- Another IT recession(if any) would be a desaster for this project... if it comes before the possession starts, price may go very very low, it may scrap too. If it comes after the possessions, you may end up living in a jungle.


    I want to buy a 2BHK and the maximum I can spend is 30Lac, which is falling in range of 2500-2700/sqft. I have visited many projects but couldn't found any good deal in this range. Now if any of you help me in suggesting alternatives of Megapolis (in my budget)...please guide..
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  • what will happen after 99 yrs..just interested to know..does the property becomes gvt?
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  • Well, I have had a lease of 99 years for one of my uncles. Very old property - given on lease TO govt, the lease rent is same for 100 years, and you have to give back your property. In this case, after 99 years, MIDC will want the land back, and hence your grandsons will NOT enjoy the legacy left behind by your sons.

    I WILL NEVER PURCHASE A PROPERTY ON A LEASED LAND - ITS THAT SIMPLE,

    When you are buying a apt, you are also buying the FSI/land along with it, and the socities re-build themselves in 20-30 years time, so basically your sons and grand-sons will enjoy if you buy a normal property now (Conveyance has to be transferred in your name by the builder)...

    So,megapolis - you are just paying a rent to the builder+MIDC for stay here for 99 years, for me, --- its much more economical to put it in a -- FD/MIP and just pay the rent with it.....Its like ---

    "You are paying for a Wife - But you are only getting is a Girl -Friend "

    Here " You are paying for FSI + construction/right to occupy for 99 - But you are only getting construction+right to occupy 99"..

    I wouldnt buy it even at 1500, even if I consider the land costs at 1000 Rs per sq feet !
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