Kolhapur Real Estate Market Blog

Challenges posed by Urbanization in India.

2014-02-05T11:53:00.000+05:30

MUMBAI SLUMS

By 2030, 40% of the India will live in urban areas, compared to 30% today. Indian cities are already reeling under an acute shortage of infrastructure with quality of living far below basic standards of living. Per capita water supply is 105 liters per day, compared to a basic service standard of 150 liters, per capita parks and open space is 2.7 square meters, compared to the basic service standard of 9 square meters.

Overcrowding of Indian cities is likely to put massive strain on the already stretched infrastructure of cities, adversely affecting their economic growth. Slums now account for 1/4 of all urban housing. In Mumbai, more than half the population lives in slums, many of which are situated near employment centers in the heart of town, unlike in most other cities in developing countries. Unless addressed immediately, shortage of quality housing is likely to snowball into being one of the key impediments to India’s economic progress in the 21st century.

The current pace of investment in infrastructure will not be able to cope with the urbanization. As per a McKinsey study, India’s annual capital infrastructure spending is $17 compared to China’s $116 and United Kingdom's $391. To meet the needs of the swelling population by 2030, India will need to increase infrastructure investment to $134 per capita per annum or roughly $90 billion annually. Else, economic vitality of Indian cities will be severely undermined.

Proper urban planning and governance that comprehensively address housing, transportation, infrastructure and economic development is critical to meeting the nation’s 2030 outlook.

Can development of housing townships address India’s urbanisation challenge?

PALAVA CITY MUMBAI

By 2030, many Indian cities will become larger than many countries today in terms of both population and GDP. Most of them are already severely overburdened and struggling to provide even basic services. For instance, Mumbai Metropolitan Region’s GDP is projected to reach $265 billion by 2030, larger than the GDP of many countries today, including Portugal, Colombia, and Malaysia. However, a quarter of its population lives in slums.

Existing cities can absorb only a small proportion of the growth due to over stressed services and paucity of land. In India, incentivizing the development of satellite cities could be one of the key measures to meet the spiraling demand for housing while maintaining quality of life. It will unlock many new growth markets such as infrastructure, transportation, health care, education, and recreation.

The National Urban Housing and Habitat Policy 2007 is a step in the right direction. It proposed a multi-pronged approach to address housing in the country and a key element of the plan is to develop new integrated green-field townships located at a reasonable distance from medium or large existing towns with development of mass rapid transport corridors between them so that the relationship between industry and commerce is developed to an optimum level leading to a holistic economic growth of these new integrated townships. Multiple satellite towns around Tier I and II cities to support an economic hub have proven to be a success across the globe; and India can replicate their success

Amanora Township, Life republic, Magarpatta City, Nanded City Pune, Blueridge are some of the inspiring examples so such townships in Pune.

Urbangram Kolhapur Finally Launched!!!

2013-10-16T11:26:00.004+05:30

Architect Sanjay Adke, Managing Director Sachin Kulkarni, Director Nitin Kulkarni at Kolhapur!

The most awaited affordable housing project Urbangram Kolhapur is finally launched. I was surprised to see vastushodh developers taking time for its launch, i remember visiting their site office and demo flat six months ago and posting about them way before. First I thought they might be busy launching Urbangram Shirwal , But now I am sure that Mr Sachin & Nitin Kulkarni where waiting for the right time.

The time is indeed very right ,first of all the festive month of dasara and Diwali, the announcement of new phase of IT-park, expansion of airport, the Pune - Bangalore industrial corridor & the never expanding city limits of Kolhapur which has led to the escalation of real estate prices.

'Urbangram' a brand from Vastushodh developers Pune is famous for its affordable housing projects and Kolhapur flat seekers ( not investors ) are in a need of such projects which would make their dream home within the city. Urbangram Kolhapur is launched in association with 'Vilas Javdekar & Associates' besides the Vilas Javedkar Eco-homes behind Dream World water park, New Tarabai park and comprises of 438 units of 1 & 2 BHK flats at an affordable price.

Approximate All Inclusive Property Prices:

1 BHK Flat for Rs. 19 - 23 Lakhs

2 BHK Flat for Rs. 24 to 35 Lakhs

Urbangram advertisement

Site Office & Demo Flat

Vilas Javedekar Eco-homes from Urbangram site

Location Map:-

View UrbanGram Kolhapur, Maharashtra, India in a larger map

Kolhapur an emerging realty destination.

2013-06-26T00:38:00.000+05:30

The city has everything that an ideal lifestyle requires. With urbane cities like Mumbai and Pune isolating, the middle class owing to escalating realty rates, developing cities like Kolhapur fit the bill. Thanks to the cool, stylish and trendy lifestyle here. Upcoming educational institutes, IT parks, industries, a pull of young crowd and growing job opportunities makes the city one of the most sought after realty destination.
Speed is the watchword in modern lifestyle. However, taking pace off day-to-day life is something people often look at, especially in metros where there's hardly any breathing space. A golden mean between progress and peaceful lifestyle seems ideal and it is here that growing cities like Kolhapur emerge a nice options.
Offering urbane homes and lifestyle at reasonable rates, Kolhapur, one of the fast developing cities, has an advantage of strategic location on Pune-Mumbai-Bangalore-Hyderabad corridor. Known for it tranquility and industrial development, Kolhapur is emerging as one of the hottest realty destination. The city offers best of the commercial and residential projects, suiting the needs of today's discerning property buyers and investors. Besides, world class amenities at affordable prices makes Kolhapur one of the most sought after destinations in Maharahtra.
Though Kolhapur has seen a rise in property rates for the past few years, it's still affordable as compared metros. The city realty market has always been stable and was never artificially inflated.The slowdown hardly affected Kolhapur as prices have always been realistic. Ever since the home loan interests are lowered, the city realty market is abuzz.
Kolhapur is witnessing a realty boom and outskirts are developing like never before. The mentality of people has changed. Earlier, they were reluctant to travel. But today, they are ready to go to the outskirts. Besides, Kolhapur, too, has many other dimensions. The city has always been a favorite religious and tourism hub, thanks to its beauty. Now, it's been looked upon as upcoming IT, industrial and educational hub. All this is sure to add to the phenomenal growth of Kolhapur.

Kolhapur all set for two new malls !!!

2013-06-11T15:11:00.000+05:30

The mall culture is all set to finally find its place in kolhapur with multi-brand retail outlets emerging day by day. Many kolhapurkars are preferring hypermarkets over their usual grocery store. Right from the inception of Big bazaar in 2007 kolhapur has seen a tremendous growth in its hypermarket sector. D-mart, N-mart, Vishal Mega Mart, Star Bazzar, Reliance Super found thier way in kolhapur.
This year Kolhapur finally got its first mall 'The Reliance Mega mall' and now with the inception of of reliance mega, kolhapur is all set to get two more malls , Tata Croma and the D.Y Patil mall.
Tata Croma is located near 'pitli ganpati'chowk in tarabai park and the D.Y Patil mall is on the old p.b road besides the railway crossing flyover.

The D.Y Patil Mall and 5 Star Hotel :-

D.Y Patil Mall & 5 Star Hotel

D.Y Patil Mall & Hotel -Birds Eye View

Tata Croma :-

Tata Croma is under construction at the pitali ganapati chowk near residency club, tarabai park.

View Larger Map

Deokar Panand & Sane Guruji Projects

2013-06-02T19:30:00.005+05:30

Deokar panand & sane guruji are developing residential areas of the city. Close proximity with mahalaxmi temple, mahadwar road, rankala lake and the old kolhapur peths have made these areas a prime residential destinations. Wide roads, greenary all around ,away from hush n rush of the peths and connectivity due to the new ring roads are inviting many real estate developers here. Lets take a look at some of the prime projects.

Palm Groove

Anandi Residency :-


Anandi Residency

An Agreement of Your Flat - It's not a "Sale Agreement"!

2013-05-26T14:04:00.003+05:30

An agreement of your flat is a 'sugar teat'...keep on sucking till you get possession, baby!

"Agreement to Sell" & "Agreement to Sale"

We all know that 'booking a flat' is just a fantasy. Popularized by the banks and builders to earn huge profits. Property agreement is presented as if - "the goods" are transferred from the seller to the buyer. As if - a builder hand overs a 2 BHK Flat to a home buyer for a price!

Except the property buyer who has booked a flat, we all know that reality is - the property is not yet ready. In the next 30 months a builder is going to construct it. Obviously, the agreement between a builder and a property buyer is not "Sale Agreement". It is not absolute.

In the simple terms - a property agreement is just a pure and simple contract between a builder and a property buyer. By signing the contract - the property buyer only establishes his claim and a builder agrees. It means that it is "Agreement to Sell." Actual sale - exchange of goods against a full and final payment will take place when the flat is ready.

Till that happens the seller - the builder - remains the owner of the property. Obviously, the builder tries his best to protect himself against all odds he has to face in the long construction period and sets favorable terms in "Agreement to Sell".

Fantasy & Reality:

Developers in Maharashtra, one of the biggest realty markets in India, said since agreements are drafted as in the Maharashtra Ownership of Flats Act, there is very little scope of exploiting buyers.

“Basically, there is a standard agreement described by the Act. Therefore, there cannot be violation which can come under the purview of CCI. It is mandatory to follow the Act,” said Lalit Kumar Jain, national president, Confederation of Real Estate Developers Association of India.

Fact of the matter is, this "Agreement to Sell" is useful only to a builder and a bank. For a builder - agreement is a source of money. For a bank, a agreement is an excuse to fund a builder against the security of a property buyer.

Obviously, banks which lend funds & builders who receive funds, both have no issues about an agreement. Only, a property buyer who makes 2 commitments with this agreement - 1) to fund the builder and 2) to repay to a bank - has some issues. And issue is not about his role. Why don't banks fund builders directly? Why the financial transaction between a bank and a builder happens through a property buyer? Because banks don't trust builders! A property buyer is held as a ransom, offered as a security!!

Point is property agreement is useful only for builders and banks. Obviously, nobody wants to stop the practice of using property as fuel. Nobody says - property buyers, grow up! Give up dummy and enjoy real!!

Tarabai Park & Nagala Park Projects

2013-05-21T11:20:00.001+05:30

Tarabai park/Nagala park the most preferred destination of the natives and the upper-market of the city. Amidst a league of the well-known and posh landmarks such as the New Palace, Residency Club, Circuit House and with a fleet of prime schools and colleges, plush hotels, commercial spaces, government offices and a residence to the top bureaucrats & politicians. Its proximity to the central bus stand , railway station, industrial areas and the Bengaluru bypass gives it easy access from the western and southern parts of the city.
The residential prices here range from 3700 to 5200 per sq ft. Luxurious flats , Penthouses, High rise towers are making their way here.

Some of the prime ongoing projects in Tarabai park/Nagala park.

(click on the project titles for more details)

Magnolia Prime :-

Evergreen Homes Township :-

Wonder 11 :-

Nakshtra :-

Aim Reality :-

Cloud 9 :-

Vishwakarma Prestige :-

Himmat Bahadur Enclave :-

Ekaant :-

Aim Platinum :-

Acacia :-

Legal bribes for flat registration!

2013-05-15T14:57:00.000+05:30

I feel, all builders are happy to pay bribes. Because, builders know that they can recover bribes from their property buyers - with profit!

For example, your builder asks you to pay "legal charges" - around Rs. 5,000 - in cash. Why? Because for the every agreement your builder pays minimum Rs. 600 to the Sub-Registrar and Rs. 300 to the senior clerk and on an average Rs. 1,000 to the rest of the staff in the sub-registrar’s office.

In general, your bribe is as much as the 'official fees' for the registration of your document. Means, even on your bribe, after deducting the salary of his staff (including advocate on a payroll), builder earns some handsome profit. As usual, at your cost.

You may or may not be a supporter of Anna Hazare's agitation but, I know, you are against corruption. You are against giving and taking a bribe. By refusing to pay "legal charges" to your builder, you can take a small step towards eradication of corruption.

Don't worry about the registration of your agreement. Generally, the builder's representative asks for the bribe money before your agreement is registered. Because, the builder's representative pays bribe when he collects your document.

If you say no to bribe and refuse to pay cash to the builder's representative, the builder has to pay from his own pocket. Because, your agreement is more useful for your builder than to you.

Your builder, besides paying bribes for the sanctioning authorities, had already spend a few crore rupees on advertising and sample flat, to promote fear of property price rise, to brainwash you that booking at the launch / pre-launch or under-construction stage is more profitable than buying a ready possession flat and to force you to sign the agreement. Because, your agreement is his only source of funds.

So, your builder will cough the registration charges and bribe out of his own pocket. Because, without your agreement, your builder will not get funds from the bank!

Who knows? By refusing to pay bribe for the registration of your agreement, you may motivate your builder to join agitation against corrupt

Related Stories:

1) Corruption in India has become worse: Ratan Tata

2) Why politicians don't want to fight corruption

Mukta Sainik & Market yard Projects Thread

2013-05-12T21:02:00.001+05:30

A stones through away from the Pune Kolhapur Highway yet located amongst green pastures, Mukta Sainik & Market yard area are giving birth to luxurious terrace apartments, penthouses and lavish bungalows. The area enjoys close proximity of eminent education institutes, hospitals, hypermarkets, industrial areas, airport, railway station & central bus stand.

Menon Bungalows, Hanging Gardens are some of the existing benchmark luxury projects in this area.

Hanging Gardens Luxury Apartment ( Actual Flat Photographs)

Some of the Ongoing residential projects here:-

Paranjpee Schemes-Mrudhgandh

Decks

Viswakarma - Rajana Residency

Anantpuram Township Project

Matoshree Malaygiri

Icon Residency

Niwara

Pre-launch offers are illegal!

2013-05-12T00:11:00.002+05:30

Lodha Pre-launch Offer

Pre-launch offer is bluffing & cheating:

Several developers are coming out with pre-launch offers through advertisements and special invitations. However, according to experts this is completely illegal as developers are selling apartments even before the grant of the license to develop the property.

"It (pre-launch offers) is a big zero. Pre-launch offers are 100% illegal. Unless you pass the plan (for the building) you cannot allocate flat or apartment number to a buyer. And several developers are found doing the same,” said advocate Vinod Sampat. Read More

Related Posts:-

Township fsi hiked to boost economic hub

VAT Related Questions & Answers

Urbangram Kolhapur - Exclusive Prelaunch Offer Closed!

2013-05-07T10:07:00.001+05:30

Flyover Hoarding

Yesterday, when i saw the above hoarding from the railway crossing flyover, i got mad. Straight away, I went to Urbangram's Project's office behind dream world park.

I asked the Marketing incharge, about the hoarding .

"How can you say that it's Urbangram hoarding?," he questioned me.

" Who else can can give an affordable flat in Kolhapur and that to in Tarabai Park?," i asked him and that i was in Pune for few years, For me, it's easy to identify a builder from the offer & advertising.

Before, i could say more, he accepted that it's Urbangram Kolhapur's hoarding.

"Since, you have opened booking for all - what about the exclusive pre-launch offer ?," I asked.

"The exclusive offer was only for those who were on Urbangram's waiting list and now, that offer is closed!," he said.

"What exactly does that mean?," i demanded.

"It means that 150 flats were released for "Out of Town" Kolhapurkars. Spread all over the world. On preferential basis and now an entire 1BHK building is sold out and the property rate is increased..." he said.

"And what about unaware people like us? i added

"They will get a special treatment - if they book before this week ends! Before the project is launched!!!" he said.

Approximate All Inclusive Property Prices:

1 BHK Flat for Rs. 17 - 19 Lakhs
1.5 BHK Flat for Rs. 21 - 24 Lakhs
2 BHK Flat for Rs. 27 to 33 Lakhs

UrbanGram Kolhapur,
near Yashwant Apartments & Bungalows,
New Tarabai Park, behind Dream World Water Park, Kolhapur 416 006

Contact-Ranjit-8975294100

Urbangram Site Hoarding

Site Office

Rate List of Urbangram Kolhapur

Vilas Javdekar View From Urbangram Site

Location Map:-

View UrbanGram Kolhapur, Maharashtra, India in a larger map

Related Posts :-

Affordable Housing: Need of theday!!

City Limits Major Reason For Poor Kolhapur Infrastructure!!

Upcoming Commercial Spaces in Kolhapur.

2013-05-01T20:24:00.000+05:30

With the growing urbanization, industries and changing lifestyles, Kolhapur is experiencing a large growth in its commercial market. Showrooms, Corporate offices, Hypermarkets are growing day by day. This change has led to a tremendous growth in modern commercial spaces in the city. Rajarampuri, Tarabai park/Nagala park, Shahupuri, Old P.B road/CBS etc are becoming favored commercial destinations. All the upcoming prime commercial projects here are ranging from 14000 - 25000per sqft and are well equipped with all modern amenities and infrastructure.

Some of the prime ongoing commercial spaces:-

Tathastu Corner (Rajarampuri)

Atharva Elegance (Shahupuri)

Galaxy (Tarabai Park)

Revolution (CBS)

Nucleus (Tarabai Park)

D.C Plaza (Nagala Park)

G-Square (Rajarampuri)

Ace-Arcade (Rajarampuri)

Grand Signet (Rajarampuri)

Krystal Plaza (Tarabai Park)

Royal Plaza (CBS)

R.K Empire (Shahupuri)

Square 9 (Tarabai Park)

Navrang (Nagala Park)

Related Posts:-

Reliance Mall Kolhapur !!

Kolhapurs Biggest Commercial Complex !!

The Salable Area Calculation !!

2013-04-25T23:25:00.002+05:30

Flat area is usually classified as the carpet area, built-up area, super built-up area and finally the saleable area. Many are unaware of the fact that the chargeable area is not the one between their walls but there's more...

Carpet Area: Area between the walls. Carpet area must have permanent roof (slab) over it, at normal height. Owner must get exclusive rights to use and resell the carpet area. Carpet area is calculated by multiplying dimension of room, i.e. length x width. Total carpet area is calculated by adding carpet areas of all rooms. Generally, in addition to all the rooms, varandas, passages, area inside the main door (if not included in living room dimension), balconies are included in carpet area. FSI is applicable to carpet area. Depending upon builder practice, carpet area may be 50% to 70% of of saleable area. It is always good to find ratio of carpet area to the saleable area, higher the ratio, better it is. This is just to give you idea of what you actually can use, in practice it is in interest of the buyers to find out what is carpet area and then apply loading factor on it (and not do the other way, i.e. should not arrive at carpet by applying loading factor to saleable area.
The example below will illustrate the way of finding saleble area by applying loading factor on the carpet area.
Saleable Area: 1125 sq ft
Loading Factor: 25% (or 1.25)
Find carpet area first by measuring actual dimensions, and then apply loading factor
Saleable area = 900 sq ft + 900 x 25% = 1125 sq ft

Terrace: Open area without roof, attached to the main unit that buyer gets exclusive rights to use and resell (with the main unit). Open areas with slab at least double the height of the floor are also considered terrace area. FSI is not applicable to terrace areas.

Balcony: Open area with roof (slab at floor height), attached to the main unit that buyer has exclusive rights to use and resell (with the main unit). Generally balcony area is added to total carpet area. FSI is applicable to balconies.

Dry terrace or dry balcony: Area meant to dry clothes that buyer has exclusive rights to use and resell (with main unit). If it has roof (slab) at normal height, it should be treated as balcony. If it does not have roof (slab) at normal height, it should be treated as terrace.

Builtup Area: Carpet Area + area occupied by walls, doors of the unit. Generally builtup area is not calculated separately, it is included into the loading factor.

Loading factor or loading or load: Loading factor is a number used for purpose of arriving at saleable area. It is used to add constructed space not exclusively allocated to the buyer. Such area generally includes shared areas such as lift/elevator area, staircases, clubhouse, gymnasium, amenities area, etc. Loading factor 1.25 indicates that developer/builder is applying 25% on the carpet area. Some builders, in addition to carpet area, include terrace and balcony areas while applying the loading factor. If the project does not have lot of amenities, the loading factor should be small. In most cases loading factor of 1.3 is more than sufficient. Loading factor also includes parking space (irrespective of it is covered, open, stilt, sold separately or not).

Superbuiltup Area: Carpet area + terrace + balconies + areas occupied by walls + area occupied by
common/shared construction (e.g. lift, stairs, club house, etc). Generally builders use loading factor on carpet area to arrive at superbuiltup area. For example, if carpet area is 500, and loading factor is 1.3, then superbuiltup area is 500 x 1.5 = 750.

Usable Area: This is relatively new term. Technically there is no difference between Usable Area and Superbuiltup Area. Some builders use this term to justify higher loading factor, typically in Mumbai where land cost is extremely high.

Saleable Area: Generally superbuiltup area is saleable area.

FSI: Floor Space Index. This is ratio of land to carpet area. Generally it is 1 for residential plots (much less for agricultural land) For example, if FSI is 1, and land area is 3000 sq ft, then total carpet area on that land cannot exceed 3000 x 1 = 3000 sq ft. It should be noted that FSI is not applicable to terraces. Also, this definition is provided for your information, enforcement of FSI is taken care of by local authorities, and buyer should not worry about it (unless there are allegations against the builder of misusing FSI).

Summary
a) Bigger saleable area does not mean bigger carpet area
b) Lower rate does not mean good deal because it can result into higher effective rate because of loading factor, and the way terraces are charged (at 50% or 100% or at some other %), and if loading factor is applied on top of terraces
c) Method used by builder can cause a big swing in the total price as demonstrated in the example above
d) Lower loading % does not necessarily mean it is better deal, one needs to look into how it is applied on terraces, gardens and other areas that are not included in FSI
e) Per square foot rate is meaningless and misleading if not looked in light of the other factors that influence saleable area

Related Posts:-
Governments "CUT" in High Property Prices!!

Urbangran: Affordable Housing in Tarabai Park !!!

2013-04-08T16:50:00.001+05:30

When anyone speaks about the posh localities or upper market of Kolhapur city, Tarabai park is the first name heard. Any ongoing 2BHK flat here ranges from a minimum of 45 to 60 lakhs. Urbangram Pune is all set to redefine the price tag of Tarabai Park by introducing their affordable housing project and providing residence ranging from just 15 to 30 lakhs !!!!

Urbangram is known for its affordable housing projects across Pune providing living for the low and medium income class. Urbangram Kolhapur is taking place near dream world water park besides Vilas Javedekar Eco Homes Tarabai Park. The project is launching within a month!!

Actual Site Photographs of Urbangram Kolhapur!!

Entry Hoarding

Site Office and Demo Flat

Vilas Javdekars Yashwant from Urbangram Site

Urbangram

Panchganga River Bed Development Essential l!!!

2013-03-25T19:45:00.001+05:30

The prosperity of the city is the reflection of its geographic location. The climate, natural resources and the environment of the city is directly proportional to its overall development. All the ancient civilizations took place around river beds, may it be harappa or mohenjo-daro or any other. Kolhapur is blessed with its climate,soil,geographical location and the river panchganga which surrounds the city giving it ample water.

Large amount of city area adjacent to panchganga is declared as red zone or the no construction and infrastructure development zone due to flooding proximity. Some of the prime city area is covered under this zone.
But when I look at the adjacent river developments in foreign cities like London, Paris, Hongkong or the privately managed Indian cities like the Lavasa or the proposed GIFT city in Gujarat or Nanded city Pune I see the sad picture of our system. River bed development is very essential and adds area, scenic beauty & a mean of transport and tourism to the city.
Panchganga river bed development is a very essential project for Kollhapur. Hats off to the private developers who are raising their own funds in developing such areas.

Lavasa Pune River Bed Development:

Lavasa

Proposed GIFT City Gujarat River Bed Development:

GIFT Gujarat

Nanded City Pune River Bed Development:

Nanded City Pune

Panchganga River Surrounding Kolhapur City:

Panchganga River

Paris River Bed Development:

Shanghai River Bed Development:

London River Bed Development:

Related Stories:-

City Limits a Major Reason For Poor Kolhapur Infrastructure!!!

Special Township Act Kolhapur!!!

The New Tarabai Park !!!

2013-03-19T19:27:00.003+05:30

Tarabai park the most preferred destination of the natives and the upper-market of the city. Amidst a league of the well-known and posh landmarks such as the New Palace, Residency Club, Circuit House and with a fleet of prime schools and colleges, plush hotels, commercial spaces, government offices and a residence to the top bureaucrats & politicians. Its proximity to the central bus stand , railway station, industrial areas and the Bengaluru bypass gives it easy access from the western and southern parts of the city.

The suburbs of tarabai park or the tarabai park annexe like the karande mala , new palace area, ramanmala and few parts of nagala park are been named & marketed as the new tarabai park by the developers. A large amount of infrastructure development is going on in these areas.
Lets take a look at few of the ongoing projects.

Yashwant

Royal Astonia

Windgates

Karande Mala Entrance

Devgiri Heights

Tirth Parkridge

Punya Parva

Shri Siddhivinayak Retreat

Petunia Towers

Related Stories:-

Eco-Friendly Housing Kolhapur!!!

Kolhapur Skyline Ready To Change!!!

Special Township Act Kolhapur!!!

2013-03-12T00:18:00.000+05:30

SPECIAL TOWNSHIP ACT granted for Kolhapur City!!!

The state government finally declared Special Townships Act for Kolhapur city. The decision was warmly welcomed by CREDAI Kolhapur. The city limits issue and the affordable housing scarcity in Kolhapur city can now be resolved by developing mega-township projects under this special townships policy act. According to the act, a special township must have minimum of 100acres area, it should provide basic infrastructure like roads, street lighting, water supply, power supply, waste water treatment and at least 20% of the total area should be reserved as Park/Garden/Playground. It should also provide other public amenities like schools, hospitals, cemetery/cremation ground, bus station, fire brigade station, garbage disposal systems, police station, bus station and other public utilities and should be managed and maintained by the developer. In short a private and better management compared to the Municipal corporation management and hence reducing the load on the state government and the local corporation (KMC). The developers are given many concessions according to the policy, some of them are stated below.

SPECIAL Township Policy - concessions given to the developer:

The Government of India has announced its policy to permit 100% foreign direct investment (FDI) for the development of integrated townships. In order to encourage private investment in the housing sector and to facilitate housing at affordable prices, the following incentives will be available for projects under the Special Township Area:
i) Non-agriculture permission will be automatic.
ii) Exemption from Urban Land (Ceiling and Regulation) Act, 1976.
iii) Government land falling under township area shall be leased out to the developer at the current market rate.
iv) The condition that only agriculturist will be eligible to buy agriculture land shall not be applicable in Special Township Areas.
v) There shall be no ceiling limit for holding agriculture land to be purchased by the owner/developer for such project.
vi) There will be floating FSI in the township. Unused FSI of one plot can be used anywhere in the whole township.
vii) The stamp duty rates applicable in the Special Township area shall be 50% of prevailing rates.
viii) A Special Township Project shall be partially exempted from payment of scrutiny fee for processing the development proposal.
ix) 50% concession in payment of development charge.
x) Development of basic infrastructure and amenities.

Amanora township , Magarpatta township, Nanded City pune, Life Republic, Blue ridge, Kul-Ecoloch are the inspiring examples of such developments. These developers are doing what the state Government can't do! The builders of these townships are developing infrastructure in the fringe areas of Pune and providing housing for the growing population!!

Amanora Park Town

Life Republic

Blue Ridge

Nanded City Pune

KUL Ecoloch

Township Policy

City Limits - Major Reason For Poor Kolhapur Infrastructure

Affordable Housing : Need of the day!!

Lavishness at its best!!!

2013-02-19T00:48:00.000+05:30

The start of 2013 gave relief to Kolhapur developers with dalan exhibition grabbing many home buyers & also the state government granting permission for 11 stored towers in the city. It also added new projects to the cities skyline.

Two new lavish townships are all set to redefine luxury housing practiced in Kolhapur with their class amenities & quality specifications.

-MAGNOLIA PRIME

Located at the upper-market of Tarabai park behind pooja builders wonder 11 lies this marvelous project being developed by Anand group of constructions.

HIRASHREE LAKE CITY:

Hirashree Lake City is the Biggest Project Ever in Kolhapur City. Aesthetically spread over 7.5 acres of land and besides Shalini Palace & Rankala, this project full of grandeur is an outcome of Shree builders & Developers! This township with almost 450 flats and 24 twin bungalows is all set to be a charming feather in Kolhapur’s cap.

Bungalows & Villas Kolhapur !!

2013-02-16T09:11:00.001+05:30

With rapid urbanization and increasing real estate prices, Kolhapur is changing its face from a bungalow city to a tower city with emerging apartments & penthouses. Very few projects offer twin or row houses.With a price of above 1cr in the prime areas, bungalows are becoming obsolete. Here are the existing few....

Lake City

Vilas Javadear Eco-homes

Ira Pride

Related Posts:-

Panahala Villas & Farmhouses

Vistacore Ichalkaranji

Rainwater Harvesting Kolhapur

2013-02-09T13:16:00.003+05:30

Rainwater Harvesting to be made compulsory in Kolhapur !!!

The town planning department of the KMC is all set to make rainwater harvesting mandatory for the upcoming and also the existing real estate projects in the city. As told by the city engineer Mr Netradeep Sarnobat, rainwater harvesting will be made compulsory or the upcoming projects in the first phase and then will be gradually implemented in the existing projects.
In the state of Tamil Nadu, rainwater harvesting was made compulsory for every building to avoid ground water depletion. It proved excellent results within five years, and every other state took it as role model. Since its implementation, Chennai saw a 50 percent rise in water level in five years and the water quality significantly improved

Why rainwater harvesting?
Rainwater is a free source and relatively clean and with proper treatment it can be even used as a potable water source. Rainwater harvesting saves high-quality drinking water sources and relieves the pressure on sewers and the environment by mitigating floods, soil erosion's and replenishing groundwater levels. In addition, rainwater harvesting reduces the potable water consumption and consequently, the volume of generated waste water.
Application areas
Rainwater harvesting systems can be installed in both new and existing buildings and harvested rainwater used for different applications that do not require drinking water quality such as toilet flushing, garden watering, irrigation, cleaning and laundry washing. Harvested rainwater is also used in many parts of the world as a drinking water source. As rainwater is very soft there is also less consumption of washing and cleaning powder. With rainwater harvesting, the savings in potable water could amount up to 50% of the total household consumption.
Criteria for selection of rainwater harvesting technologies
Several factors should be considered when selecting rainwater harvesting systems for domestic use:
• type and size of catchment area
• local rainfall data and weather patterns
• family size
• length of the drought period
• alternative water sources
• cost of the rainwater harvesting system.

Some of the ongoing projects with rainwater harvesting !!!

Himmat Bahadur Enclave

Panhala a new investment destination !!

2013-02-03T12:35:00.002+05:30

The morning fresh air, soothing westerly breeze in the evening, lush green surroundings... you get all this throughout the year. You wake-up here with crowing of cock and chirping of birds, go to sleep with sound of crickets and watching blinking lights of hamlets in surrounding valleys.This is panhala for you!!!
A historical place, hill station, tourist destination and now an emerging education destination with international boarding schools and colleges. Nowadays it is also being targeted as a Second Home destination by the kolhapurkars and also the punekars !!!

Some of the ongoing projects in panhala :-

Mist Ville

Valley Vista

Blossom

Related Stories :-
Second homes concept in kolhapur

Dalan Property Exhibition !!

2013-01-29T17:19:00.001+05:30

Information was not my motive behind visiting Dalan 2013 at Shahupuri Gymkhana.

I was visiting property exhibition because:

1) For a few moments, I wanted to believe in every word spoken by each & every real estate salesperson.

2) For a few moments, I wanted to believe that the construction quality would be as good as the glossy digital images displayed in the stall.

3) For a few moments, I wanted to believe that - after booking a flat - no property buyer will be ignored and harassed - but, will get the same treatment as he is getting in this property exhibition.

4) For a few moments, I wanted to believe that this property show is organized to fulfill my dream of a home.

And you know what?
Yes. For a few moments, I forgot the reality and enjoyed the fantasy.
As I do in every exhibition.

Grand Entrance

No Brickwork - Kumkang Kind Formwork !!!!!

2013-01-23T16:26:00.000+05:30

Have you ever imagined a building without bricks??? Well, technology is advancing-from the traditional brickwork to fly ash bricks to the weightless siporex and now its time for Kumkang kind (no brickwork)!!!

Once, while talking about the construction progress of Nanded City Pune, Mr Satish Magar mentioned that - "Now, we have mastered the new construction technology, for sure, can build the structure of 22 story towers in 11 months. Delivering ready for possession 22 story tower in 12 months is difficult to accept??
Yes, difficult but not impossible - in fact - very much possible - because Kumkang Kind system is developed - designed - to build fast - lot faster - than I am claiming,".

The Kumkang Kind system is built for a 4 day cycle - my claim is very moderate - based on a 8 days's cycle for a floor - means, I can build floor in 8 days - plus, streamlined finishing work - means, while I am casting the 3rd floor - my 1st floor will be ready for possession - ready with tiles, windows, doors, electrical & sanitary fittings. Means, my entire 22 story tower - would be ready for possession in 12 months. It's very much possible!,"

Nanded City Pune a 700 acre Mega Township!!!!!!!

Nanded City Master Plan

Nanded City- Actual Site Photograph

Formwork on site-no bricks!!

The biggest residential construction site in India!

Construction of Nanded City Pune is a sort of "National Record"!,Construction of Towers in the 1st phase of Nanded City Pune is almost over. Only a few towers and the finishing work - internal work - is going on.

In the first phase of Nanded City Pune, there are 81 towers of 11 stories and 21 towers of 22 stories. In these 102 Towers there are 7,788 flats. (1 BHK Flats: 1,848 + 2 BHK Flats: 3,388 + 2.5 BHK Flats: 792 + 3 BHK Flats: 1,760).

Nanded City Pune has 13 sets of Kumkang Kind Aluminium Formwork Systems (www.kumkangformwork.com).

Considering that 400 acre Magarpatta took 10 years to complete - some used to say that 700 acre Nanded City Pune would take 20 years! But now it might take less time then expected.
"Nanded City Pune may be the only project in the world - in which nearly 5,000 property buyers booked - applied for a flat - without knowing the plan & property price - everyone just believed in the concept - in Mr. Satish Magar!,"

Vistacore Ichalkaranji a good deal???

2013-01-14T15:03:00.001+05:30

You must have found hoardings at Dabholkar corner or Tawade hotel with Zaher Khan as a brand ambassador with a tagline of "VISTACORE- Raising the bar". I was pleasantly shocked for the reason that Utkarsh patil of Vistacore with all his success stories in Pune has eyed Ichalkaranji and that to with a fleet of 350 villas!!But when I actually visited the site office of "Vistacore - East Manchester Homes" the lavish ambiance of the lush green gardens, the swimming pool with an amphitheater and the European style villas with other amenities like play area, 24hr power backup, maintenance staff, security, rain water harvesting, indoor games, community hall etc didn't really interest me at all when the marketing incharge told me about the price!!!

3200 per sq-ft for Row houses and 4200 per sq-ft for executive twins!!!!!!

And the most shocking news of all is that 150 villas are booked at the 1st phase!!!
Vistacore Ichalkaranji is located way outside the city on the sangli road and can only be connected to the city with your personal car. Wake up Ichalkaranji people, you'll really get a good deal at the above price & amenities at Kolhapur city and that to in a good connected area!!

Vistacore Flex at Tawade Hotel

Vistacore Plan

Villas- Actual Site Photograph

Community Hall

Club house & pool -Actual Site Photograph

Main Gate

Dabholkar Corner Flex

Location Map

Maharashtra Housing (Regulation and Development) Bill

2013-01-11T15:41:00.001+05:30

In the last budget session, Maharashtra Government introduced the Maharashtra Housing (Regulation and Development) bill & gave a "property buyer friendly paint" . This joint committee has recommended a few "attractive" amendments to the Maharashtra Housing (Regulation and Development) Bill. Like 3 years imprisonment for the builder for not obeying the Housing Appellate Tribunal!

So, for me Maharashtra Housing (Regulation and Development) Bill is nothing more than the a warning to all those who are not aware about the risks involved in booking a flat. To get the idea, please, have a look at the recommendations:

Risks Involved in Booking a Flat:

1) The builder cannot make any alteration to a flat once it is sold - without the flat purchaser's consent.

2) The builder cannot add a floor or a wing to a building - without the flat purchaser's consent.

3) Any amenity promised - such as a garden - cannot be altered.

4) If the builder fails to give possession of a flat within the promised period or abandons a project, he will not only have to refund the amount with 15% interest, but also have to pay a penalty.

5) If the housing regulator is satisfied that the builder is unable to complete a project, the regulator can let the property buyers come together and appoint contractors and consultants to complete construction of the project.

6) A flat purchaser can demand rectification of any defect within five years of the purchase.

7) Preserving open space is mandatory, it cannot be used as a parking lot.

8) Fire safety systems in high rise buildings are mandatory too.

9) The builder can not make changes to recreation facilities without the consent of the property buyers.

10) If the purchaser fails to pay any outgoings for over three months, the builder can cut off essential services - like water, power and gas - only after the matter is heard by a competent authority.

11) The builder cannot sell 10 per cent flats in each building. These flats will be retained by housing regulatory body till the completion & occupation certificate is obtained by the builder. The list of these 10 per cent flats will be displayed on the government website so that no property buyer will buy them.

12) No pre-launch bookings! As per The Bill, the builder can not sell the flats , accept the bookings, before the plans are approved by the authority.

Now, the builder has to submit the plans, get sanctions & commencement certificates, display the plan on government's website and then only can accept bookings.

Moral of the story:

So on & so forth. In short, it's not about a Maharashtra Housing (Regulation and Development) Bill or about a good builder and a bad builder. It's all about the way you buy the property. When you book a flat, you buy a concept on paper. While implementing that concept, anything can happen. Sometimes, may be because of genuine, valid reasons. But, for sure, mostly, at your cost. However, your builder would not be sent to jail even for a day. But, you suffer for life.

So, point is, don't get trapped! Let the builder build, obtain the completion & occupation certificate, and send a limo for you!!

Kolhapur Real Estate Market Blog

Challenges posed by Urbanization in India.

Related Posts :-

Urbangram Kolhapur Finally Launched!!!

Approximate All Inclusive Property Prices:

1 BHK Flat for Rs. 19 - 23 Lakhs

2 BHK Flat for Rs. 24 to 35 Lakhs

Related Posts :-

Kolhapur an emerging realty destination.

Related Posts:-

Kolhapur all set for two new malls !!!

The D.Y Patil Mall and 5 Star Hotel :-

Tata Croma :-

Related Posts :-

Deokar Panand & Sane Guruji Projects

Palm Groove

Anandi Residency :-

Indraprastha :-

Sunshree Kangan :-

Sai Estate :-

Sai Malhar :-

Vrundavan :-

Sankalp Siddhi :-

Related Posts :-

An Agreement of Your Flat - It's not a "Sale Agreement"!

An agreement of your flat is a 'sugar teat'...keep on sucking till you get possession, baby!

"Agreement to Sell" & "Agreement to Sale"

Fantasy & Reality:

Related Posts :-

Tarabai Park & Nagala Park Projects

Some of the prime ongoing projects in Tarabai park/Nagala park.

Magnolia Prime :-

Evergreen Homes Township :-

Wonder 11 :-

Nakshtra :-

Aim Reality :-

Cloud 9 :-

Vishwakarma Prestige :-

Himmat Bahadur Enclave :-

Ekaant :-

Aim Platinum :-

Acacia :-

Related Posts :-

Legal bribes for flat registration!

Mukta Sainik & Market yard Projects Thread

Hanging Gardens Luxury Apartment ( Actual Flat Photographs)

Some of the Ongoing residential projects here:-

Related Posts:-

Pre-launch offers are illegal!

Pre-launch offer is bluffing & cheating:

Several developers are coming out with pre-launch offers through advertisements and special invitations. However, according to experts this is completely illegal as developers are selling apartments even before the grant of the license to develop the property.

"It (pre-launch offers) is a big zero. Pre-launch offers are 100% illegal. Unless you pass the plan (for the building) you cannot allocate flat or apartment number to a buyer. And several developers are found doing the same,” said advocate Vinod Sampat. Read More

Urbangram Kolhapur - Exclusive Prelaunch Offer Closed!

Approximate All Inclusive Property Prices:

1 BHK Flat for Rs. 17 - 19 Lakhs 1.5 BHK Flat for Rs. 21 - 24 Lakhs 2 BHK Flat for Rs. 27 to 33 Lakhs UrbanGram Kolhapur, near Yashwant Apartments & Bungalows, New Tarabai Park, behind Dream World Water Park, Kolhapur 416 006

Contact-Ranjit-8975294100

Upcoming Commercial Spaces in Kolhapur.

The Salable Area Calculation !!

Urbangran: Affordable Housing in Tarabai Park !!!

Panchganga River Bed Development Essential l!!!

The New Tarabai Park !!!

Special Township Act Kolhapur!!!

SPECIAL TOWNSHIP ACT granted for Kolhapur City!!!

Related Posts:-

City Limits - Major Reason For Poor Kolhapur Infrastructure

Affordable Housing : Need of the day!!

Lavishness at its best!!!

The start of 2013 gave relief to Kolhapur developers with dalan exhibition grabbing many home buyers & also the state government granting permission for 11 stored towers in the city. It also added new projects to the cities skyline.

Two new lavish townships are all set to redefine luxury housing practiced in Kolhapur with their class amenities & quality specifications.

-MAGNOLIA PRIME

Located at the upper-market of Tarabai park behind pooja builders wonder 11 lies this marvelous project being developed by Anand group of constructions.

Bungalows & Villas Kolhapur !!

Rainwater Harvesting Kolhapur

Panhala a new investment destination !!

Dalan Property Exhibition !!

No Brickwork - Kumkang Kind Formwork !!!!!

Nanded City Pune a 700 acre Mega Township!!!!!!!

Vistacore Ichalkaranji a good deal???

Maharashtra Housing (Regulation and Development) Bill

Moral of the story:

1 BHK Flat for Rs. 17 - 19 Lakhs
1.5 BHK Flat for Rs. 21 - 24 Lakhs
2 BHK Flat for Rs. 27 to 33 Lakhs

UrbanGram Kolhapur,
near Yashwant Apartments & Bungalows,
New Tarabai Park, behind Dream World Water Park, Kolhapur 416 006