Kolhapur Real Estate Market Blog: 2013

Wednesday, October 16, 2013

Urbangram Kolhapur Finally Launched!!!

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

Wednesday, June 26, 2013

Kolhapur an emerging realty destination.

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.

Tuesday, June 11, 2013

Kolhapur all set for two new malls !!!

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

Sunday, June 2, 2013

Deokar Panand & Sane Guruji Projects

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

Sunday, May 26, 2013

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"

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!!

Tuesday, May 21, 2013

Tarabai Park & Nagala Park Projects

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 :-

Wednesday, May 15, 2013

Legal bribes for flat registration!

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

Sunday, May 12, 2013

Mukta Sainik & Market yard Projects Thread

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.