Thursday, June 18, 2009

Silver Skyscapes Wakad

Silver Skyscapes Wakad

This one is long due, and its been a long time since i have posted anything. I have been to silver skyscapes about a month back and before i forgot any little details of it, i thought i should give it some time and put down whatever i could recollect.


I was looking at a rental accomodation couple of months back and happen to visit manav promoters another completed site (Silver Twin deck in wakad), to have a look at one of the property available for rent. I like it for couple of reasons and was hesitant to take it for rent for some reasons.


I liked (silver twin deck) it because it was near to hinjewadi, have good layout and decent size flat, good specification and also couple of things which gave me positive vibes were the quality of finishing of the flat.


The flat had good quality fixtures in bathroom and its club house was operational with swimming pool in working condition. This was an anomoly to other propety where the owner has just taken possession but the ameneties were yet to be operational.


Things which i didn't liked were, it was bang on the highway so security was a concern for me plus their was nothing around it and slums on one of the approach raod. There were no shops around to buy groceries.


Leaving behind silver twin deck, for the reason stated above i thought of looking at manav promoters other properties i browsed their website and found silver skyscape attractive. With good ameneties and apartment looked good in size. I submitted an enquiry on their website.


The very next day i got a call from a lady, asking me about my interest and she requested me to visit their site to have a look at the sample flat. They have flats available in varying size.


Next weekend i had planned to go to wakad to have a look at some of the sites, i was given contact number of the person who is present at their site. As lot of other sites were nearby and i happen to spend quite a time their i got a bit late and it was turning dark, i called up the person if he was still there and whether i could come to have a look. He said he was about to leave but will wait.


I went to their site, and they share the same approach road which apostrophe have, just that you have to travel a bit more to reach their site. Approach road is not at all good as i have mentioned in my post about apostrophe. And you dont really know whether it will really improve or not.


When i reached their site, the person whom i have spoken to was not there. Some office boy was there who could speak only broken hindi. I asked him to show me the sample flat. But it turned out to be futile as it has become quite dark by then and the flats didn't had any light.


I left it that day with an intention to come again, and i did visited them again. This time around i went with someone who gave me decent guided tour and had information about the project. As i said earlier they have different size flat so some of them were spacious and some were not that spacious. Overall they were of decent size.


Their 3BHK have different plans, one of the 3BHK have one of the room with the living room and other two once you pass the living room. I liked it plan because the room with the living room can serve as a guest room or if you are living with your parents as you parents room.


Something which i didn't liked was after the living room the other rooms are like attached to the flat with a passage, which is not straight, with walls forming different geometrical figures.


Another 3BHK will have all the three room adjacent to eacth other. This doesn't give you privacy as walls are shared. Fitting were yet again of good quality.


Floor size varies for a 2BHK from 1150 Sqft to 1224 Sqft in D wing, which they said will be ready by december. E wing which will be ready by march next year according to them have smaller flat compared to D wing.


What appeared at their site possession even if given in december, ameneties and parking would not be ready in any case by then. Even march seems to be doubtfull to me for the underground parking and other ameneties. Building D though was quite a lot of done. As again my wife was with me she liked the flat which had cross ventillation, not all flat might have that. You will have to choose after you see them.


Coming to pricing i asked the sales person about the price he told me rate of 2700, on being asked for discount he asked me if i can book right now. Which i refused and asked him for a final price which can help me come back for booking. The final price he quoted me was 2400/Sqft. I'm giving a sample price workup based on 2400 psf.


=============================================================

2BHK @ 2400 psf

Saleable area 1229

Basic cost @ 2400 = 2949600

Car parking = 150000

MSEB = 65000

Infrastructure and Development = 65000

Society & legal = 15000

Total cost (excluding stamp duty and registration) = 32,44,600

==============================================================

I did negotiated with this builder further for a rate of 2300 over the phone and i know someone who did the booking at 2250.


Concern i had with silver skyscape was for possession and the overall location as of now. One more interesting thing i wanted to point out is that whichever builder i have visited they always says there is a proposed DP road, even though i dont find any signs of roads there but they are confident that it will be ready within a year.


If you too have recently visited any property and would like to share your views about it please do so, it might help someone else get an idea about it.

28 comments:

  1. Hello Mr. Commoner!

    1) Thanks for posting. I was practically watching my dash board every day, anxiously waiting to read your next post. I enjoy reading your honest, unpretencious posts. Keep it up!

    2) One suggestion. Please, start considering "Carpet Area" and not a "saleable area" when you talk about the size of the flat and the property rate.

    1st reason is that's the law.
    2nd reason is that's the area you get to use. 3rd reason is you can measure only the carpet area, saleabale area can't be measured.
    4th reason is you are not a real estate salesman like me. You are a property buyer. You should look at the real estate from your eyes, from your own perspective.
    5th reason is you get true idea about the property rate and use carpet area as a valid parameter to compare two properties.
    6th reason is only you, property buyer has the power to rationalize the real estate market. As a property buyer blogger, i expect, it's your responcibility to play an important role in rationalizing it.

    Thanks once again! Looking forward to read you!

    ReplyDelete
  2. @Ravi

    Feels good to know someone is waiting to read what I write.

    Regarding your suggestion about carpet area, I do inquire about carpet area each property i visit. But as i have visited these property last month i dont really recall carpet area for each of them. For those which do mention carpet area clearly in the leaflet which i carry along with me after visiting the site, i put those details.

    For silver skyscape i forgot to mention one thing which i do remember quite clearly and which should help people know the carpet area. In silver skyscape they use a loading of 30%, so that shld give an idea of carpet area.

    Another thing i want to mention about carpet area and loading is most of the builder when asked about carpet area says, reduce the saleable area by 23%. This might occur as if loading being used is 23%, on the contrary in this case loading is 30%

    How?

    Lets assume carpet area to be 100, with 30% loading saleable area will be 130. Now to get carpet area we need to reduce saleable area (130) by 23% (30 off 130), whilst the original increase is 30%.

    what they say is mathematically correct, but it gives an impression as if loading being used is 23%.

    I know couple of people (who had done booking) who were arguing talking about a certain builder saying he is fair and take loading as just 25%, when it was shown to them the actual loading, needless to say it was too late for them realize.

    ReplyDelete
  3. Yes, you are right! But not completely right!!

    Because loading on "what" is not clear in this case. Is loading on "Carpet area" or "Built-up area"?

    You know there is "Built-up" area between "Carpet area" and "Saleable area"!

    So, simplify! Come closer to the Truth! Consider "Carpet area", though it's not a complete truth, exact description, accurate measurement of the space you get to use. But very close to the actual space you pay for and get to use!

    ReplyDelete
  4. The US property prices peaked in 2006, UK in 2007 and India in 2008.
    The bottoming in US property market is likely in 2011. So do you think it will happen earlier in India?
    Since 18th century the cycle is such.
    Read the link below. A very good article.
    http://www.moneyweek.com/news-and-charts/economics/property-will-fall-until-at-least-2011-then-us-stocks-will-lead-the-way-13814.aspx

    ReplyDelete
  5. Hi there , indeed a very informative blog :) I'm genuinely impressed :)
    Well I'm Dr. Puskarr Deshmukkh. [ pls ingore the spelling] I'm searching for small 3-6 k sq ft plot in Baner/ Balewadi for raising a banglow [ wrong expression, still i love the word "Raising" :) ]
    Do yuh have any such property in ure mind? Have visited 20-30 such properties , but almost every plot has some minor litigation, some road problem n things like that.
    Well keep on writing :)
    Thanks !

    ReplyDelete
  6. Indeed an informative blog :)I'm impressed. if one s buying a flat wid so much passion....... :)
    Well I'm searching for a plot 3-6 k sq ft in Baner / Balewadi area. Visited almost 20+ plots ....but every plot has some problem, problems like minor litigation, road problem, reservation problem. I want to raise a banglow there ...... But it seems buying a residential plot is a Herculean Task :( I'm utterly confused..... do yuh have any such small property in that area.... or any suggestion?
    Thanks a lot for reading my babbling :)

    ReplyDelete
  7. @Commoner,
    You can add my name in the list of persons who wait for your next post :)
    As Ravi has mentioned, it might be helpful if you can post carpet area in your future posts.

    @Ravi,
    As you have mentioned above, is it a law that developers should charge only for carpet area?
    Also, The 'Miscelleneous charges' that we normally see added in the total cost - e.g. Infrastructure and development charge, MSEB charge etc are justifiable? [certainly MSEB charges are not to the tune of 65k... it is normally around 10k, isn't it?]

    Somehow, I feel that negotiation on per sqft rate is normally futile as developers end up hiking these charges which makes up for the 'discount' in the per sqft rate!

    ReplyDelete
  8. @puneestate

    I surely will make it a point to put carpet area details.

    I guess there is not any law regarding carpet area. But even if government do set guidelines for the amount of loading a builder can use that would really help buyer not getting cheated.

    Normally any buyer when he tries to negotiate does negotiate only on the PSF rate. I will just point out my experience with it when i was doing negotiation with one of the salesman. I had a figure in my mind which was my budget lets say for e.g 30L for 2BHK and what i was quoted was 35L. Now when you see 35L as being quoted and 30L as your budget you surely will get to say 30L as your price. But when i tried doing calculation based on PSF rate which i felt was appropriate for that area and property (I just changed the basic rate and used the other figures provided by builder like MSEB etc) the price came out to be 28L. I was quoted price @2400 PSF and i though the right price would be 2100 or less thats how i reached 28L.

    What i'm trying to say is that it is indeed futile to negotiate based on PSF rate but yes it is worth calulating price with your mobile calculator with the PSF price which you feel justified (Should be rational one though).

    ReplyDelete
  9. @Puskarr Deshmukkh

    Hi Puskarr (apologies for spelling mistake :) ), even i would love to get a 3K Sqft plot, if they are available with reasonable price.

    ReplyDelete
  10. Hello Commoner, love your blog. Its in my bookmark now. Your blog is more refreshing than Ravi Karendeekar's.

    Please, o please share some pictures !
    Prashant

    ReplyDelete
  11. Hi,

    No new posts so far ...
    Whats up ?

    ReplyDelete
  12. @parimal

    Hi Parimal,

    no new post as I have shifted home recently and no broadband connection yet at the new place. As soon as I get net at home will be back again with some more views of mine.

    Commoner

    ReplyDelete
  13. We are too waiting for more posts. Best wishes for your new home.

    ReplyDelete
  14. Good luck on moving to the new home. Did you buy this or rent?

    Prashant

    ReplyDelete
  15. Commoner,
    Check this happening thread. I hope you participate in this discussion.

    http://www.indianrealestateforum.com/f-pune-25.html/

    ReplyDelete
  16. @aditi sharma

    hi aditi,

    thanks for the link...I haven't really checked this forum much, will surely follow it.

    Commoner

    ReplyDelete
  17. For people seeking a property in Pimpale Saudgar, think again - societies like Kunal Icon, S3, Shubashree, Sai Vihar etc. have been waterlogged with 2 hours of rain.

    The builders claim PCMC drain line is not right. The PCMC takes its own sweet time to look into it, leave remedying it. Residents are forced to fight it out through stagnating rain and drain water. in some cases, people have had water entering homes at 4 in the morning.

    You don't want that to happen to you !

    ReplyDelete
  18. Commoner,
    did you stop hunting?
    You have stopped blogging for long time..

    ReplyDelete
  19. "Anonymous said...
    Commoner,
    did you stop hunting? "

    Yes i have stopped hunting anymore...not able to blog these days, as market has recovered and so is the workload :).....dont get much time to go and check out properties.

    ReplyDelete
  20. About silver skyscapes...
    Site looks very impressive, but look at the foundation of bldg. Its not good!
    Few yrs down the line it will be a problem, so beware!!!

    ReplyDelete
  21. does anyone visited elementa project by akshar developers in wakad?what do you think th psf?

    ReplyDelete
  22. hi ANONYMOUS MARCH 18,2010,

    CAN YOU PLEASE ELABORATE ON WHY DO YOU THINK THE FOUNDATION FOR SILVER SKYSCAPE IS NOT GOOD?

    WE ARE THINKING OF BUYING A FLAT THERE. YOUR INFORMATION WILL HELP US DECIDE.

    ReplyDelete
  23. HI,
    Now Silver skyscapes is coming up with phase2 and charging 3250/sqft. what do you suggest?
    The to the entrance is still shitty and all the builders are mentioning about some DP road.
    Anyone has any idea about the real plans of PCMC for DP roads?

    ReplyDelete
  24. Mr Commner,

    We would like to hear from you about Platinum Towers as well. This project is rite before the Silver skyscapes.

    Please comment.

    Thanks

    ReplyDelete
  25. Dont buy at anything more than INR 2350 per sft unless u r TAKE HOME salary has increased by the percentage by which the rate is above INR2350.

    ReplyDelete
  26. guys .. any info about PCMC DP roads ? I looked at Silver Skyscapes and the adjust complex .. and both are saying different things about the DP road ....

    ReplyDelete
  27. Hi,
    Me and my Friend booked 3 BHK apartment (1359 Sqft) @ 3200 at Silver Skyscape Wakad, by Manav Promoters. Is it a good deal or its kind of expensive? Total cost is coming 52 lacs inclusive everything. Its a ready possession flats.
    But here are possibly concern points for me:
    1. They still dont have PCMC water connection. Builder saying that they are getting 1 tanker of PCMC water every 2-3 days and I think there are like 80-90 families.
    When asked that getting tanker and all will be expensive and that will be load on the members who have already taken the possession. He replied that NO, they are bearing the cost of it and not charging members. But in the Agreement, its written explicitly that all the cost of Water, electricity, and general maintenance of the society will be beared by the members who have taken the possession.

    2. According to him, there are 2 bore wells and saying that they have put RO softner as well for that which they will keep it as is for Society, but unluckily they dont mention it in the Agreement.

    3. Builder is having agreement such that he is having all positive things for him self like FSI, TDR, FAR etc for himself incase that is given by PCMC in future because of and DP road plan etc.

    4. Does this part of wakad has any water supply issue which builder is hiding?

    5. Builder is saying he is doing 30% loading, is it reasonable in wakad?

    Actually both, me and my friend are based on Mumbai and planning to shift to mumbai in this flats is all goes well.

    Do any one have any suggestions for me? You can reach me by seeing email id on my public profile links provided below.


    --
    Thanks And Regards,
    Yagnesh Chawda.
    Mob. +91-99308 21649
    Res. +91-22-28920883
    : http://yagneshchawda.blogspot.com/
    : http://twitter.com/yagneshchawda

    ***************************************************
    Good planets are hard to find. Print less!
    Save energy to keep your future bright !!
    ***************************************************
    "Earth provides enough to satisfy every man's need,
    but not every man's greed." - Mahatma Gandhi
    ***************************************************

    ReplyDelete