Prathmesh Elite
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9 insights shared by the community.
What residents appreciate the most
For those who invested in flats during the initial sales phase in 2008 at a rate of 5400 per sqft, there is a perception that if the project were ever to be completed, they would stand to gain a very favorable deal due to potential property value appreciation over time. This prospect is cited as a reason why some buyers have not cancelled their bookings despite the delays.
The builder sold flats at 5400 per sqft in 2008. So the buyers are in for a really nice deal once it is completed. And that's why no one is cancelling their bookings.
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Despite the project's prolonged stalled status and legal challenges, observations suggest that the fundamental structural work of the building, including its core framework, is largely finished. This indicates that a significant portion of the physical construction has been accomplished.
If you see the construction of the core structure is almost completed.
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Where residents want improvements
The project's location at Chandani Chowk has put it in direct conflict with major urban development initiatives. It is speculated that the building might be acquired for a ring road project or has been denied a completion certificate because space was required for a metro pillar, suggesting poor initial planning or unforeseen governmental infrastructure demands.
Pune Metro mulech yala Completion nahi milala! They needed space for the a pillar of Pune Metro.
I have heard about it being on it way to be taken down due to some road project, well, everything from Prathamesh Elite to Lohiya Jain IT park.
Might be going into the ring road project. I guess it was built only to be over compensated by government.
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The project is entangled in numerous legal battles, including 13 ongoing civil and criminal cases. It has faced court-imposed stay orders due to issues such as alleged encroachment on forest land and education society land. These legal complications are a major impediment, making it highly unlikely for the project to ever receive a completion certificate and function as a residential building.
Heard there was a stay order from court last time.
It will never be a residential building as the matter is in court for 15-20 years. It will never get a completion certificate.
SNDT education trust and State Forest Department was took a stay on this land because backyard construction of building was touched to forest land education society land.
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The project, located in Chandani Chowk, appears to be structurally complete but remains entirely abandoned and unoccupied. Despite external lighting, a closer inspection reveals that all apartments are dark and empty, leading to questions about its status and why no one resides there.
Yeah this looks like the only reasonable answer to this weird situation.
It looks like the project is completed yet no one seems to be living there. You can see if you driving across that section of the highway. The society looks completely abandoned. They still put on the fancy lights but on closer inspection you can see all of the apartments are dark and empty. Not really sure what has happened.
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The construction of the project has been severely delayed, spanning over a decade, with some observers noting its incomplete state since as early as 2008. Despite its initial ambition to be a prominent building, there has been little to no visible progress for many years, leading to widespread skepticism about its eventual completion.
It's been like that for at least 10 years.
Came to Pune for graduation in 2012, saw it for the first time and thought it would be done in 1 year... today after 10 years, it feels like it will take another 10 years.
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Individuals who purchased flats in the project, some as early as 2008, find their investments completely tied up. With the project stalled indefinitely and facing numerous legal and completion hurdles, buyers are unable to take possession of their homes or sell their bookings, leading to significant financial distress.
Ffs, is money still stuck?
Work started in 2008. Bought a flat then... It's still happening. And probably won't happen.
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A somber event involving the death of a worker on the construction site has cast a shadow over the project. This incident is cited as a reason for the suspension of work and has contributed to a negative perception, with some even referring to the site as 'cursed.'
It's a cursed place. A lady died here.
I remember reading that one lady had fallen to death from this building while checking out the flat. After that the work also stopped but it was moving pretty slowly before that too.
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Allegations of builder misconduct and financial impropriety surround the project. The original developer is reported to have been in a poor financial position, and there are claims that the builder changed their approach, transferred the project to another group after receiving a substantial amount (190 CR), and subsequently disclaimed responsibility, effectively abandoning the buyers.
13 civil and criminal cases. Builder cheated.
Being in real estate for some time I learned that the developer was not in good financial position to complete.
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