Fool who purchased flat in pune

Does it make sense to keep this blog alive ?

2009-12-25T06:26:00.000-08:00

It's been more than year this blog is active. Although there are very few post but the comments received on the posts are very sensitive.

As the title suggest mood of this blog is sarcastic , but main intension was to bring awareness among peoples who had purchased or were planning to purchase flat.

There are lot many similar cases where people have invested their life savings and got stuck for many years. A lot need to be done on legal side to stop such things from happaning.

But now finally , after a delay of almost 2 years ,many people have started living in the apartment.

So does it make sense to keep this blog alive ? Is it time to start fresh with positive midset taking lessons from previous mistakes ?

TechM rescued Satyam ..Who will rescue Mirchandani Palms ?

2009-06-09T15:38:00.000-07:00

It's so good to read that the fraud hit company Satyam finally resuced by Tech Mahindra. Although more than 10 ,000 people are going to loose their jobs and many investers migh have already lost good amount of money for their investment in this company all thanks to the Mr. Ramalinga Raju.

But there looks like there is no end to the woes of flat owners ..errr.. fools .. at mirchandai palms. Fools who had purchased flat during the initial stage ( i.e. more than 2/3 years before) are the worst hit. As I see comments on this blog new breed of fools is also getting ready . As rightly bloged by Mr. Ravi here, lot many fools had donated their precious eyes to mirchandani group in anticipation of receiving world class Rayban sun glasses. What else fools can do.. they are still waiting for their rayban glass. It's just because of those MNS peoples and latter because of recession all over the world , Mirchandani group is not able to give them those glasses.. but they are trying their best ..

Ramalinga Raju: the lightpost of Mirchandani Group

2009-02-06T15:45:00.000-08:00

Satyam's Ramalinga Raju is now like an icon kind of person for the peoples who do their business by fooling peoples and inflate everything. But not many peoples are brave like him. Take this case of Mirchandani Group management for example. They have done gr8 job of fooling people on their part in every possible way. They were even able to extract money from customers which are announced tobe free everywhere. As Raju has created around 12,000 plus ghost employees , this Mirchandani Group has also created many ghost employees . These employees are always on paper or in verbal communication, but never tobe seen. Raju at the end at least admitted his misdoing and is now ready to face laws of land. Mirchandani Group management peoples are coward. Mirchandani Management is gone in hidding now. They have blocked incomming calles on their phones. Initially at least fool people were able to see and meet some time to them. But now seeing that fools are now waking up for good, Mirchandani group management is valished. God knows who give them contract in Dubai when the real estate sector of whole middle east is doing bad. People who were working in Dubai for years are comming back to India or going to their native country. But the Mirchandani group management (MGM) is gr8. They keep fooling fool by telling him that MGM is doing some very big project in Dubai. If fool tries to call MGM , either managent is in Dubai or out of pune.
Looks like MGM is still confident of continuing their ride on lion's back , or may be they still haven't figure out how to get down without getting killed.

The day is not far when fools are going to behave like hungry lion.

Mirchandani Group done it once again what they are best in ... fooling people.

2009-01-08T11:15:00.000-08:00

Flat owners at Mirchandani Palms are now very much use to of getting fooled. But all of them still very eagerly looking forward for possesion of their apartment in December 2008. How fool they were. Mirchandani group did it it again. Instead of giving possession of living safely they have just given possesion for making internal furniture that to only for A4/A5.
And now they are doing simple gr8 thing with parking allotment. All of sudden they have increased parking pricess to 1.75 to 2 lakhs. These people know exactly how to extort money from their customers. Man gaye Sanjay !!
And the sad part is even after knowing all this people are paying them money.

Property prices started moving southword in Pune :(

2008-08-27T22:07:00.001-07:00

Over past 3-4 months property prices in pune have fallen around 6% to10%. Most of the projects where prices were around 3600 psf are now quoting prices around 3200 psf . And those who were in 3200+ are now below 3000 psf. So all in all lot many fools who had brought apartment/flats in pune in last one year might actually seeing their property value going down although they might be paying more EMI. So don't be fool and buy flat/apartment.

Old marketing staff vanished from Mirchandani Palms

2008-08-27T22:07:00.000-07:00

Looks like complete original marketing staff of Mirchandani Palms has disappeared. Looks like the old staff might have got frustrated with continuously complaining and angry customers. And it's fair enough. How long can someone tolerate the anger of peoples whom you cheated just for the sake of your job.
One can not work in an environment where deep inside you know that you are promising such things to the customer which are never going fulfil.

Property bubble busting in India.. is Pune exception ?

2008-07-03T03:49:00.000-07:00

Recently came across this interesting article from Ajit Dayal, Director of Quantum AMC.

Here's a quote:

All correct, and all true: India needs more property.
A lot of more property. Maybe more than the 700% increase referred to in the Merrill Lynch report.

But, at what price?
And at what profit margin to the developer and their financiers?
And will people buy any junk in any location at any price?

But looking at the current real estate sceanario it is feeling that pune is exception. Although property prices all over India are falling significatly but same is not case with pune at large. They are still rising although at tortoises's speed. Bookings of Nanded City closed withing couple of days without any concreate plan... Lavasa which is 42 kms away from Chandani Chowk is charing 2850 per sq. ft .. there are lot many .. really lot many examples... Simply it looks pune is Exception or are we at tip of the price mountain supported artifically by the builders who has made huge profitis in the past when peoples were in fix.

What should fools do now ???

2008-06-24T05:57:00.000-07:00

There are lot many stories are getting published now a days from different fools (Flat buyers) from Pune or for that matter all over India. I think this world is not filled with only fools. There might be some really smart peoples out there who might have better idea what to look for before buying a flat . Also there are peoples who knows what one can actually do to get out of situation like that of Mirchandani Palms either because they might have undergone through similar situation.

I would like to request readers of this blog to kindly post your suggestions for the peoples who are stuck at Mirchandani Palms. Is there any strong leagal option available which can help people to bend developers and get what and when promised by builder ?

--Vk

Stories from other fools

2008-06-07T05:56:00.000-07:00

Here is very good like which has some really scary stories about their experince with builder.
These stories are of expience from Magarpatta City, Purple Properties , Goel Ganga Group , Montevert , Aditya Builders , Surya Developers , Raviraj - Kothari , Nightmare at Swapnanagari , Wonder Properties (Wonder Futura)
http://www.r2iclubforums.com/clubvb/showthread.php?t=5759 .
Reading these stories really hepling me to prepare myself for my flat exectuion/possestion .

Also check this link
http://timesofindia.indiatimes.com/C...ow/2475779.cms

Orkut Cummunity of Mirchani Palms

2008-06-07T05:37:00.000-07:00

There are couple of orkut communities formed by flat owners at Mirchandani Palms. Links of theme are http://www.orkut.co.in/Community.aspx?cmm=43241438 and http://www.orkut.co.in/Community.aspx?cmm=43420710

Flat owner have started building pressuer on Mirchandani Group for early possesion. Sanjay Mirchandani from Mirchandani Group has now taken job of marketing peoples in his hand (of fooling people !!! ). He is giving some milestones for each building and asking peoples to check progress of total scheme based on these milestones. Looks like Mirchani group has not got proper project manager for such a big project. So he is asking his customer to do that job and that too by taking money from them only. Wow !!! What a Idea !!

Peoples uniting at Mirchandani Palms.

2008-05-12T00:13:00.001-07:00

Finally peoples who had purchased flats at Mirchandani Palms are coming together. Flat owner at Mirchandani Palms are very much frustrated by long delay in giving possession by the builder. Most of the people who booked flats at Mirchandani Palms have given full disbursement in advance in the hope that they will get possession on time. In fact timely possession and coming up of Commercial Mall in short while was the kind of picture created by marketing peoples. And surprisingly most of the banks guys who has tie up with this project were also supporting it. But now the reality is totally different. At present the work at side is going at tortoise's speed. There is rummer that Mirchandani group is not releasing money to the contractors who work for them for weired reasons. So now a days not many good contractors are willing to work with them.

It's good and timely start from the peoples to unite and come together. They have also formed Orkut community. Being united they can put more pressure on builder and get the work done as fast as it can.

Best of luck guys !!

Mirchandani Palms delaying their possesion

2008-04-20T04:27:00.002-07:00

Mirchandani Palms is one of very good project ( at least on paper ) in Rahatani, Pune and for which builder has charged premium from the people who had booked theri flats with them. Infact NDTV profit has also covered this project in it's Hotproperty show sometime in January 2008. It's almost 3 years for this project to start but in no way near to completion. This project has six building (A1, A2& A3, A4 &A5, A6 ). While doing booking in this project builder had promised to give possesions for A4 & A5 buildings by December 2007 , and for A2 & A3 buildings by April 2008. So this was very promissing project and lot people have booked their flat in this scheme ( total flat cost goes around wooping 50 to 60 laks ).

But today situation at Mirchandani palms looks very different. Project is till date didn't given single posseion. In fact by any mean it does not look that people will start getting possession before diwali of 2008. This means around minimum 1 year delay in possesions !!!!
Most of the peoples in this project have opted for ADF faciltiy of home loan. So those people who have booked flat in this scheme by taking home loan are at tremendous loss.

Checkout some discusisons here also http://punebloggers.blogspot.com/2006/04/pune-property-boom-whats-truth.html .

....to be continue..