Sanctioning के बिना कैसे चल रहा Construction? DP Road नहीं बन सकते! QnA #pune #realestate #2024

Summary

In this episode of 'Saudagar', the host addresses common concerns in real estate investments. They discuss the discrepancy between the number of floors promised by developers and those actually built, explaining the financial and regulatory hurdles that lead to such issues. The host also advises on choosing a property location based on job proximity and infrastructure development. Additionally, they tackle the reliability of developers' promises regarding amenities like DP roads, emphasizing the importance of due diligence and realistic expectations to avoid buyer's remorse.

Takeaways

• 🏢 The video discusses the common practice of developers increasing the number of floors in a building beyond what is sanctioned, leading to confusion and potential issues for buyers.
• 💡 Aasif explains that developers often start construction before obtaining full sanctioning, which can lead to demands for additional payments as the building exceeds the sanctioned floor levels.
• 📈 The script touches on the financial burden on developers due to overheads and costs associated with licensing, which sometimes forces them to pre-sell properties to cover expenses.
• 🔍 It highlights the importance of understanding the sanctioned floor levels and the potential for developers to re-sanction projects to increase the number of floors.
• 🚧 The video mentions the challenges faced by developers in obtaining land parcels necessary for the completion of DP roads, which are planned as per the Development Plan.
• 🛣️ The script discusses the discrepancy between what is promised by developers regarding connectivity and infrastructure and what is realistically deliverable.
• 🏘️ Pravin Badhe asks for advice on choosing between two locations for property purchase based on his job location and budget, highlighting the need for commute convenience.
• 🏢 The video emphasizes the need for buyers to be cautious about developer promises, especially regarding infrastructure like DP roads, which may not materialize as planned.
• 💼 The script suggests that developers should be transparent with buyers about the potential risks and uncertainties associated with infrastructure development.
• 📊 It points out the financial constraints faced by municipalities like Pune, which contributes significantly to state and central governments but receives limited funds in return, affecting urban development.
• 👥 The video concludes with a call to action for viewers to share their experiences in the comments to help others make informed decisions about property purchases.

Q & A

What is the main concern of Aasif's question regarding the builder's demand for payment before the completion of all floors?

Aasif's concern is about the builder's practice of demanding payment for floors that are yet to be constructed. He is puzzled about how the builder can demand for floors that are supposed to be completed in the future when the building is currently only partially completed.

Why do developers sometimes start constructing floors before obtaining all necessary approvals?

Developers may start construction before obtaining all approvals to manage their financial flow. They might not have the funds to pay for all the upfront costs, so they begin construction to meet immediate expenses and then proceed with obtaining further approvals and constructing additional floors as funds become available.

What is the significance of the term 'FSI' in the context of the building project discussed?

FSI stands for Floor Space Index, which is a measure of how much of a given lot can be developed. It's significant because developers can sell or lease the FSI to construct more floors, and it's a key factor in their financial planning and construction process.

How does the process of 're-FSI' come into play in the construction projects?

Re-FSI refers to the process where developers re-negotiate the Floor Space Index with the corporation after they have already obtained some FSI for a project. This allows them to potentially increase the number of floors they can build, which can be a strategy to meet the growing demand for more floors.

What is the common confusion regarding the number of floors in a building project as mentioned in the script?

The confusion arises when developers advertise a certain number of floors but then construct more. This can lead to buyers feeling misled because they thought they were getting a top-floor flat, only to find out that more floors are being added above theirs.

Why might a developer not be able to complete a 'DP Road' as promised?

A developer might not be able to complete a DP (Development Plan) Road as promised due to various reasons such as lack of land ownership, insufficient funds, or changes in government regulations. The script suggests that without clear land ownership and the associated FSI, it's challenging to ensure the completion of such roads.

What is the role of government in the development of DP Roads?

The government plays a crucial role in approving and implementing DP Roads. They are responsible for mapping out how and where development will occur, including addressing issues like traffic, commercial and residential development, and water flow. However, the actual construction and land acquisition are often dependent on private developers.

Why do developers sometimes make promises about connectivity and infrastructure that they cannot fulfill?

Developers might promise certain infrastructure like DP Roads to attract buyers, but they may not have the legal obligation or the capability to fulfill these promises. The script suggests that it's important for developers to be transparent about what they can and cannot guarantee regarding infrastructure.

What is the advice given to Praveen regarding his budget and the choice between two locations?

The advice to Praveen is to consider the travel convenience from his job location in Mundhwa when choosing between Handewadi and Hadapsar. If he works in Mundhwa, Handewadi might be more convenient due to the distance and traffic conditions.

What is the importance of understanding the legal aspects of a real estate project before investing?

Understanding the legal aspects is crucial because it can affect the completion of promised infrastructure like roads and the overall development of the area. It can also impact the value of the property and the satisfaction of the buyer with their investment.

Why is it recommended for buyers to share their experiences, especially if they had a negative one?

Sharing experiences, especially negative ones, can help other potential buyers make informed decisions. It can also pressure developers to be more transparent and deliver on their promises, thus improving the overall real estate market.