Kalpataru Crescendo, Pune - FlatGradings Opinion
Project Details
Project : Kalpataru CrescendoBuilder : Kalpataru Ltd.
Locality : Wakad
City : Pune
Analysis
Builder & Project Review:They are calling it "Project Crescendo" and not "Kalpataru Crescendo". It’s become a convenient for developers to launch projects with code names and not their brand names. This is generally done when:
1. They want to generate instant cash and don’t want to leverage their brand equity
2. When they are not clear of the product positioning
3. Approvals are not in place
Quick Fact Check:
Well, in this case, it seems the 1st & 2nd are true, the reason being Kalpataru is a known brand and market sources say the plans are in place. There should be 4 towers coming up in this development supposedly the tallest towers in the vicinity. A project if planned well could well compete with Blue Ridge & Kolte Patil in Wakad.
Before I delve into the product attributes of the Project Crescendo, let me tell you I hold high regard for Kalpataru as a developer but I have not been impressed with their delivery in the past in Pune. I've always had my reservations about their approach towards new markets especially Pune. The introduction of Jade did bring in some joy to the company as we have seen a shift and noted that Kalpataru is ready to offer apartments which are at par with their Mumbai counterparts.
Connectivity:
Kalpataru is is one company, barring Kolte Patil, of course, that has understood the Indian consumer market extremely well and if there's even a slight bit of space in between segments, trust Kalpataru to go aggressive and try to fill the gap with some or the other product. That's exactly what it has done with the Crescendo here. The company sensed an opportunity in the tower living segment and, after observing the competition for a while, decided to make its move - interestingly, quite a bit sooner than Kolte Patil to try and take a chunk of the volumes while it can. Once Kolte Patil arrives with its new offering in Wakad, it'll be a straight dogfight between Kalpataru & Kolte.
Master Plan:
Floor Plan:
Anyway, coming to the product itself. Starting at 80 lac onwards Crescendo is differentiated from its 'regular' sibling Harmony by a lot. This is tower living, better amenities, better features, more space.
The product comes with digital locks, AC in apartments and modular kitchen which is a cool thing. Add to that the clubhouse it should be better than Harmony & Splendour as per plans which are great.
Areas Starting: 2 BHK -1100 to 1250 & 3 BHK - 1500 to 1650
1. The tower concept - the elevation
2. Internal amenities are superior and better than competitors in the vicinity
Before I delve into the product attributes of the Project Crescendo, let me tell you I hold high regard for Kalpataru as a developer but I have not been impressed with their delivery in the past in Pune. I've always had my reservations about their approach towards new markets especially Pune. The introduction of Jade did bring in some joy to the company as we have seen a shift and noted that Kalpataru is ready to offer apartments which are at par with their Mumbai counterparts.
Connectivity:
Now, we didn't really get an awful lot of time to analyse the product, very little information disclosed. What we know is that Crescendo located next to Harmony in Wakad is a project that would appeal to the mid-income IT segment in Hinjewadi & Wakad. A product planning expert explained it well - "If, say, my father were to invest in a 2BHK home, he'd ideally go for the Splendour/ Harmony while a young and rising corporate executive would go for something like the Crescendo."
Master Plan:
Floor Plan:
The product comes with digital locks, AC in apartments and modular kitchen which is a cool thing. Add to that the clubhouse it should be better than Harmony & Splendour as per plans which are great.
Areas Starting: 2 BHK -1100 to 1250 & 3 BHK - 1500 to 1650
Our Opinion
Pros:1. The tower concept - the elevation
2. Internal amenities are superior and better than competitors in the vicinity
Cons:
Lack of open spaces in the plan
Ratings:
Final verdict:
Kalpataru has managed to make the Crescendo look is elegant and graceful but the lack of open spaces is a dampener. Also, we need to get a concrete idea on the delivery schedule before passing our final verdict.
Lack of open spaces in the plan
Ratings:
- Location :
- Layout :
- Amenities :
- Floor Plan :
Final verdict:
Kalpataru has managed to make the Crescendo look is elegant and graceful but the lack of open spaces is a dampener. Also, we need to get a concrete idea on the delivery schedule before passing our final verdict.
I had recently booked a flat at Kalpataru's new Tower. I loved their design and their sales team was very helpful and pleasant. I even made the initial payments and then came time for making the agreement. They said that I would have no issues and their agreement was "RERA Compliant".
ReplyDeleteI went through the agreement which they shared and that's when I realized, that they were in fact, 'RERA compliant'- But only where it suited them!
All the clauses in RERA that are there to protect the Promoter (i.e. the builder) were added and most of the clauses that protect an allotee's (i.e. a buyer's) right were simply excluded.
Whatever few minor ones were included were either diluted, extremely vague or had a contradictory clause defined somewhere else to negate the effect.
Eg. As per RERA, buyer can get any defects fixed within 5 years of possession.
They added this, but in contrast they also had a clause saying that during possession time they would notify you to come and inspect the flat once and after that inspection, if you find any faults you need to notify them. Any defects found after that would not be entertained.
If an allottee (Buyer) defaults on the payment of a single EMI they need to pay interest as the SBI maximum ROI + 2 percent. This is as per RERA and they've added it in their agreement.
Now RERA also says - 'If the Promoter fails to abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend to withdraw from the project, interest as specified in the Rule, on all the amounts paid by the Allottee, for every month of delay, till the handing over of the possession. The Allottee agrees to pay to the Promoter, interest as specified in the Rule, on all the delayed payment which become due and payable by the Allottee to the Promoter under the terms of this Agreement from the date the said amount is payable by the allottee(s) to the Promoter.'
This they have conveniently excluded from their agreement.
On top of this if you miss a single payment, you need to pay a Liquidation charge which is 10% of the purchase price.
If you delay in taking possession, you need to pay Rs. 100 per square meter per month as Holding charge till you take the possession.
Now, on the other hand if they delay in giving possession you have 2 options - 1. Either you shutup and accept they new date. 2. Or you cancel your flat. No problem it's all good. You'll only end up losing your GST, stamp duty and other charges. If you've come through a broker (or channel parnter) as they are eloquently put, they will cut that brokerage which will be 2 to 3 %, even though you are cancelling because of their delay and they will cancel whatever they feel they need to.
RERA says - "The Promoter shall give possession of the Apartment to the Allottee on or before __ day of __ 20_. If the Promoter fails or neglects to give possession of the Apartment to the Allottee on account of reasons beyond his control and of his agents by the aforesaid date then the Promoter shall be liable on demand to refund to the Allottee the amounts already received by him in respect of the Apartment with interest at the same rate as may mentioned in the clause 4.1 herein above from the date the Promoter received the sum till the date the amounts and interest thereon is repaid."
Again this they have conveniently dropped.
They've also added an Indemnity clause which means you are effectively signing away your rights to hold them responsible for any mishap that you face in the premises.
DeleteThey refused to make these changes in the agreement when I discussed these points with them. They replied that it's a take it or leave it deal and they never make any changes for anyone. Ultimately I had to cancel the booking.
If you managed to read this overly large rant till here, do take the time to read your agreement with your builder before signing it the next time you buy a house. Hopefully, some day if all buyers become aware of their rights and make builders play fair, builders will become less arrogant.
Here's to hoping! Cheers!