Hi All
I booked 2 BHK for kolte Patil Wakad Project @5800. Total cost around 80 lakhs 20 percent booking amount.
Everyone is telling me that I made a big mistake by booking into this project since its bit expensive and yet has no sign to take off !!

However I personally feel that this project is good because I get satisfaction of
1) Prime Location
2) Kolte Patil's Reputation ..... I knw some projects are delayed and other issues.. But still they r good and listed company.
3) Premium Project .... will get all amenities
4) Project will take time so I can avoid Loan as much as possible
5) 35 acres of land means something nice planned and integrated is going to come up inside
6) Being IT engineer I can find my company in Hinjewadi
7) They said I can back off anytime with full refund... so have satisfaction of booking this sft rate.
8) Location being very close to Balewadi & Pimpale Nilakh... posh locality
I can not afford this location at least I am staying nearby
We have seen already Balewadi is being sold at 6000... I personally visited builders on site.
Baner and Balewadi is out of my reach.

If I am targetting Hinjewadi IT park then what is use of staying in Baner?
Well I can not afford Blue Ridge as they are selling in 91 lakhs above & Megapolis is very very far...
and I always wanted to book premium properties

Do you guys still feel that I made a wrong decision and I should cancel deal ???
Please let me know your views.

Thanks
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  • 20% booking amount????
    I remember the days when flat booking was as simple as 25K. Now a days, 1L has become "token amount" to book flat and remaining 9% as booking amount within 30 days. But 16L as booking amount is way toooo much!!! I think the builder got 50% of his real cost in booking amount itself which he will invest in other projects. Even if you wait for 1 year for construction to begin at current rate of interest you would lose 1.6L.
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  • Originally Posted by getrahulmore
    Hi All
    I booked 2 BHK for kolte Patil Wakad Project @5800. Total cost around 80 lakhs 20 percent booking amount.
    Everyone is telling me that I made a big mistake by booking into this project since its bit expensive and yet has no sign to take off !!

    However I personally feel that this project is good because I get satisfaction of
    1) Prime Location
    2) Kolte Patil's Reputation ..... I knw some projects are delayed and other issues.. But still they r good and listed company.
    3) Premium Project .... will get all amenities
    4) Project will take time so I can avoid Loan as much as possible
    5) 35 acres of land means something nice planned and integrated is going to come up inside
    6) Being IT engineer I can find my company in Hinjewadi
    7) They said I can back off anytime with full refund... so have satisfaction of booking this sft rate.
    8) Location being very close to Balewadi & Pimpale Nilakh... posh locality
    I can not afford this location at least I am staying nearby
    We have seen already Balewadi is being sold at 6000... I personally visited builders on site.
    Baner and Balewadi is out of my reach.

    If I am targetting Hinjewadi IT park then what is use of staying in Baner?
    Well I can not afford Blue Ridge as they are selling in 91 lakhs above & Megapolis is very very far...
    and I always wanted to book premium properties

    Do you guys still feel that I made a wrong decision and I should cancel deal ???
    Please let me know your views.

    THanks
    Rahul


    5800 in wakad pre-launch is WAY too high. my guess is that this project will be delayed by a minimum of 2-3 years given the current scenario.

    also, listed company doesn't mean you should blindly trust them. even the biggest listed RE company DLF has screwed a lot of buyers.

    there has to be some catch on the full refund. I mean builders are not going to give that money back so easily. have you read the FINE PRINT?
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  • Originally Posted by gppande
    20% booking amount????
    I remember the days when flat booking was as simple as 25K. Now a days, 1L has become "token amount" to book flat and remaining 9% as booking amount within 30 days. But 16L as booking amount is way toooo much!!! I think the builder got 50% of his real cost in booking amount itself which he will invest in other projects. Even if you wait for 1 year for construction to begin at current rate of interest you would lose 1.6L.


    Kolte Patil Wakad Team said that by this year end they will make it official and by Mid next year they will start construction.
    I have been doing research for past 2 months.. What I observed is that Builders do not open good flats so early. I visited many sites personally and they always leave us choose among non satisfactory choices.. E.g. only 1st/2nd floor or only top floor and will have bear the floor rise cost as well.

    But Yeah I agree that I should have shown some patience while negotiating ... It happened like I was on the back foot and more eager book flat than them.
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  • Originally Posted by ThodiSiZamin
    5800 in wakad pre-launch is WAY too high. my guess is that this project will be delayed by a minimum of 2-3 years given the current scenario.

    also, listed company doesn't mean you should blindly trust them. even the biggest listed RE company DLF has screwed a lot of buyers.

    there has to be some catch on the full refund. I mean builders are not going to give that money back so easily. have you read the FINE PRINT?


    I know that I am paying more sft rate.
    But they said that From Nov. they are selling in 6000.
    And what if they do not give me good floors that time and they do not negotiate at all.
    Wont I loose the opportunity to book property in premium project of a reputed builder ?:(
    It will be another Balewadi episode for me then... It will be beyond 85 lakhs and mostly projects are 40% to 80% complete and I would need loan

    Their sales people said that I can get email confirmation from them on this.
    I am trying to consolidate all the terms and get their confirmation on email from them.
    Terms like
    1) There will be no additional cost and the cost will remain same as above till the legal handover (possession)
    2) Upon unsatisfactory construction progress we can cancel the booking with full refund of money paid before possession.
    3) This cost includes working electrical points along with concealed wire cables inside.
    4) This cost includes working plumbing points with no leakages.
    5) This cost also includes warantee period of two years for any kind of fixes needed in the house.
    6) This cost includes access to all ameneties with no additional maintainance cost till the society is formed.
    7) At the time of agreement we will be allocated with dedicated car parking space
    8) This is the cost sheet for 2 BHK located on 9th floor

    Let me know if you guys can think of anything else.

    Thanks
    Rahul
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  • you mean u you bought 2bhk for 80 ??? that to pre launch in waked?
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  • At this rate your favorite same builder is offering ready and close to possession flats in his premium projects where you can see the layout, floor plan and more details.
    What's planned inside? You don't know..
    What's going to come there? You don't know..

    Man, from where did you earn that money
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  • 80L for 2 BHK ? Curious how 5800 rate can reach 80L. Say at max 2BHK=1000 sqft i.e. 58L . Now you tell me 22L are overheads . What is the breakup ? in 80L you can find good resale options even in Baner (good societies) which is considered closer to city than Wakad etc (so say 20 years down the line if IT goes to Phillipine/bangkok as predicted by some members, Baner will be better choice than Wakad). On top you are saved hassle of all delays/uncertanities etc .
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  • Originally Posted by getrahulmore

    3) This cost includes working electrical points along with concealed wire cables inside.
    4) This cost includes working plumbing points with no leakages.
    5) This cost also includes warantee period of two years for any kind of fixes needed in the house.
    6) This cost includes access to all ameneties with no additional maintainance cost till the society is formed.
    7) At the time of agreement we will be allocated with dedicated car parking space

    Let me know if you guys can think of anything else.

    Thanks
    Rahul


    I think they fooled you big time - is this your first property and is this the first time you went to RE market?
    All above mentioned is what's expected in psqft rate. Some builders provide beyond (on top of what's obvious and expected - you listed above) that like furnished kitchen, water purifier, exhaust fans, fans and lights in all rooms, some provide 1 AC unit per flat, some provide geysers and so on..
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  • Originally Posted by kingkrunal
    you mean u you bought 2bhk for 80 ??? that to pre launch in waked?



    Yes...:(
    Can anyone tell me if they have booked flat in pre-launch offer at premium projects?
    Has anyone managed to crack pre-launch offer in 5000-5500 rate ?

    --Rahul
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  • Originally Posted by getrahulmore
    Yes...:(
    Can anyone tell me if they have booked flat in pre-launch offer at premium projects?
    Has anyone managed to crack pre-launch offer in 5000-5500 rate ?

    --Rahul


    I think recent buzz news on IREF was some project by Paranjape in Rahatani. You may get phase II within 5200-5500 in pre-launch.
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  • Originally Posted by investwest
    At this rate your favorite same builder is offering ready and close to possession flats in his premium projects where you can see the layout, floor plan and more details.
    What's planned inside? You don't know..
    What's going to come there? You don't know..

    Man, from where did you earn that money


    Boss...
    when it comes to reality and when one gets into a buyer's shoes things change a lot.
    If it is a ready possesion I would need to plan for loan and start paying EMIs and interest immediately...

    At least in the project I can save some money and avoid or postpone loan as much as possible. Because builder will ask money stagewise 10% or 5% each time after the gap of 6/7 months.....
    I can make the payments stagewise...

    The only question is am I paying right money to them and will Kolte Patil deliver it as promised in terms of schedule.

    Just take one scenario three years back people were shouting for 5000 rate for "43 private drive" now you see those are iconic towers in Balewadi people will live head held high in those societies....
    No matter now u try anything they wont sell it below 6000

    Guys please be realistic.... Just by overreacting to the high prices will never let us own prime properties....

    and of course I would big time fool and stupid if anyone still manage to book in lesser price than me. Hope Kolte Patil will stand upto their reputation.

    Thanks
    Rahul
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  • Rahul, I think 80L for 2BHK looks higher for pre-launch. May be you can get ready to move 2 BHK for 80L.

    Now since you have already blocked the rate, you can do some more research by looking at a couple of under construction and a couple of ready to move projects. Compare the cash flow of all these projects. If you see minor difference, then go for Kolte patil if it is giving you better amenities and it fits into your definition of premium. So do your financial analysis first. Lot of people make mistake in financial analysis since they don't consider time value of money so take advise from expert if you are not sure about it. Since this is one of the biggest decision of life.
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  • Well, you need more idea of market. Ideally, every 20 days you get a new slab and even if your payment slab is per 3 slabs - it'll come in max to max 60 days and not 6/7 months once work starts.
    So every 2 months, you'll need to be ready with 10% amount.

    In ready to move in - you save rent if you are paying it somewhere or you get rent if you rent it out.
    You get to see what are you getting and it gives you better idea for evaluation on 'value for money' aspect which is your question here.

    That haunted plot which you mentioned (35 acres) saw at least 3 developers (KP is third) who launched sorry - pre-launched project on it.
    If you talk about the rate when this project will complete and if you are fine with delays and interest on paid up and borrowed capital in all these years then it's a good decision.

    Rate there will be closer to 10k - down the line 5 years (when you'll get possession)..
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  • Originally Posted by anirban8
    I think recent buzz news on IREF was some project by Paranjape in Rahatani. You may get phase II within 5200-5500 in pre-launch.


    Woww... Nice to hear that Paranjape can sell in that price as well..
    I stayed in pune for very short time 4/5 months in 2009 & 2008
    I am not sure if Rahatani is as good as Wakad/Balewadi...

    aundh baner and pimpale nilakh is out of our reach :(

    Thanks
    Rahul
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  • Originally Posted by investwest
    Well, you need more idea of market. Ideally, every 20 days you get a new slab and even if your payment slab is per 3 slabs - it'll come in max to max 60 days and not 6/7 months once work starts.
    So every 2 months, you'll need to be ready with 10% amount.

    In ready to move in - you save rent if you are paying it somewhere or you get rent if you rent it out.
    You get to see what are you getting and it gives you better idea for evaluation on 'value for money' aspect which is your question here.

    That haunted plot which you mentioned (35 acres) saw at least 3 developers (KP is third) who launched sorry - pre-launched project on it.
    If you talk about the rate when this project will complete and if you are fine with delays and interest on paid up and borrowed capital in all these years then it's a good decision.

    Rate there will be closer to 10k - down the line 5 years (when you'll get possession)..



    Thank you for a such knowledged insight.
    Nice to hear that rate will hit 10K in 5 years....
    I can wait for 3/4 years for possesion...

    Unfortunately their payment schedule is not yet out. Otherwise we could have mathematically put gains and losses...
    Hopefully... There should be a gap of 8 to 9 months in each 10% of payment to be made
    then I can avoid loan.

    --Rahul
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