Wednesday, November 19, 2008

Truth about Nanded City Pune: Land belongs to the farmers but we own our homes and it's our town

Moment of truth:

If you read my post - How many cancellations happened at Blue Ridge? - on the confirmation process of a flat at Nanded City Pune and the experience shared by the readers you will realize an ultimate truth about investing in real estate and about the inclusive growth model of Magarpatta.

Inclusive Growth:

No doubt, Magarpatta City and Nanded City Pune are the ideal models of "inclusive growth" where land owner farmers join hands and develop sustainable residential township which is possibly the only answer to unplanned growth of Pune or any city in India.

Mr. Satish Magar:

In this process, land owner farmers become the owners, means share holders of development and keep on getting returns on their investment, in the proportion of the land they contributed in the project. For inventing and executing this unique concept, I consider Mr. Satish Magar as not only an innovative entrepreneur but socioeconomic revolutionary.

Buyer Owners:

However, when land becomes the township Mr. Satish Magar should not forget the other set of owners who join the process. This set of owners should get their respective rights and treatment as share holders like the farmer land owners. Because property buyers own their homes and contribute to the township in many ways.

What is your take on Nanded City Pune?

When you expressed your intention of booking a flat by paying Rs. 50,000 or Rs. 1,00,000 and agreed to the property rate of Rs. 2,750 or Rs. 3,250 per sq.ft. without any document or work on site, you expressed your faith in Mr. Satish Magar.
Obviously, you must have cherished some expectations about Nanded City Pune. The first commentator experienced big "Disappointment" when he went to the site office for the confirmation of his flat. He was expecting to be treated as a proper customer. Options of the plans to choose from, was one of the basic expectation.
What are your expectations about Nanded City Pune? I feel we have to prepare a wish list which could become ground rules of the relationships between the buyers and the developer. Please, share your views in the comments. (Comments Policy)

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  1. Hi Ravi.. Thanks for your insights.

    I think Nanded City lacks the transparency which Magarpatta had. I had booked a flat in Magarpatta and i was able to get all the details (flat layouts, property layout, price breakup etc) right on the magarpatta website.

    But in case of Nanded City, Mr Satish Magar and his team has been hiding the details and giving elusive responses. Nanded City needs to provide all the details (flat layouts, property layout, price breakup etc) right on the nanded website so that it is a tranparent process.

    I have a flat booked at 2750 in Nanded but with the current uncertainty and lack of information from nanded city makes me think not to go for this project.

  2. Now it is March 2010. They have updated their websites with all the necessary details like floor plan, layout, amenities, etc etc.

  3. I have recently booked a flat in nanded city with 2850 rate i wish everything goes well with this mega project.
    the one thing which is best about is is the natural greenery in the city i have personally visited the site and it holds some of the oldest trees i ahve seen in pune.
    but can any one suggest me whether it wise to invest in such a big township as at present i am not through with the agreement i would love to hear ur views

  4. we have recently booked 1 BHK flat in Nanded city. Agreement is yet to be done. I welcome your opinions on the project.Is it a wise decision? should I proceed?

  5. Please suggest...want to book a new flat in nanded city..please give ur opinion...

  6. Hello Ravi,
    Could you please update readers with latest status of Nanded city?
    It will be great to know how the project has progressed over last couple of years.

  7. Me and my friends booked 3 flats at Nanded City yesterday...
    Status - 1st slab is done as they said...
    possession after 1.5 yrs
    Sample flats are good... overall service at site office was good...
    Its just that choice of flats is very less till new buildings are launched.

  8. Hi
    i booked 2 bhk flat at NC working progress is building status is 6th slab possession in jul 2010 almost all flat in madhuvanti for 9 buildings were soldout. Better to visit once nanded city to see actual progres as it is going well

  9. now Rate for Nanded city are 2950-3150 any know from where Dhyari phata flyover start and ends?
    is it benificial to nanded city

  10. This comment has been removed by the author.

  11. Ravi ji u are so borred abt nanded city????

  12. I booked a flat in Jan 2010 in Sarang, still waiting for Registration, seems to be some issue with the Project, so finally decided to cancel it

  13. One of the So called Popular Housing Project in Pune named "Nanded City" delaying in flat possesion by more than 6to 12 months now...I simply business less stratorgy.

    I booked 1 BHK flat in Nanded City Project in the building called Mangal-Bhairav and also got the written committed about the possesion date as July 2011. Our problem is that Nov 2011 is passing and neither we received possesion nor any commitment.

    I request all readers to think number of times while you book your flat as my experience is very bad till now.

    This problem is not of mine only, their are thousands of peoples worried about this project because of such irresponsive things happening

    We are also planning to approach media and social activist to take this issue in public and raise a single voice of common man against such builders.

    My details:

  14. Hello Friends
    I received following reply for possesion date committment for my flat in Mangal Bhairav (1BHK)building at Nanded City.

    From: Seena
    Date: Tue, Nov 22, 2011 at 6:32 PM
    Subject: RE: Compensation - Managal

    Dear Mr. Alure ,

    Greeting to you!!!

    As per the telephonic discussion today morning, we would like to inform you that the possession pertaining to your flat can be handed over to you on 1st Feb ‘ 2012.

    Kindly take note of above.

    Thanks & Regards
    Nanded City
    Megaspace, 13, Sholapur Bazzar Road,
    Off East Street, Pune - 411001, INDIA
    Office: +91 20 24391223

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