Great Transparency Initiative

Added: (Fri Jan 20 2012)

Pressbox (Press Release) - KUL to guarantee price, date and area of flats
•Launches Realty industry’s 1st Triple Guarantee plan
•Company will refund difference money if the price falls in future
•3,143 flats & 9 million sq ft under construction to be covered under this plan.
•Yet another step to ensure transparency & customer care taken by KUL.

PUNE, January 18, 2012: In an all-India first, realty major Kumar Urban development Limited (KUL) has announced a triple guarantee scheme designed to remove 3 biggest ambiguities in the mind of any home buyer. They are - delivery dates, prices and area of the properties at any cost guarantied.
“In today’s scenario, customers are concerned over getting possession of their dream homes and price fluctuations, apart from the areas that will get. Based on the customer feedback, we launch this Triple Guarantee plan to address their concerns,” said Ms. Kruti Jain, Director of KUL, said.
“This is part of continuing Endeavour to ensure transparency in our deals,” she said and explained that the scheme will be applicable to an array of properties ranging from 1BHK to 3 BHK flats.
On the price front, Ms Jain explained that KUL is committed to refund the difference, should the realty prices fall due to market movements in these locations. It has been observed that when people say that the real estate industry goes through cycles as it is driven by market sentiment majorly. We at KUL observed one of the biggest factor driving these sentiments low is uncertainty of price. Thus by designing this plan for client s we have relived them of at least 50 % of their stress.
In all 17 residential under construction projects in Pune only with a total of 3,143 units and a total built up area of 9,781,381 sq ft will be covered under the Triple Guarantee plan. This plan will further be rolled out in other markets subsequently. (for your information this will be launched in Mumbai, Bangalore – across 8 other schemes – with over 10 lacks square feet built up. )
The carpet areas range from 303 to 456 sq ft plus terraces for 1 BHK, 473 to 936 sqft plus terraces for 2BHK, 579 to 993 sq ft plus terraces for 2.5BHK, 943 to 1438 sq ft plus terraces for 3 BHK and 1662 to 2008 sqft plus terraces/garden for 4 BHK flats.
The prices range from Rs 18 lakhs onwards for 1 BHK, Rs 28 lakhs onwards for 2 BHK, Rs 65 lakhs for 3 BHK and Rs 2 crores upwards for 4 BHK flats.
The properties under construction are at Kalyani Nagar, Baner, Pashan Link Road, Karve Road, Kondhwa, Kharadi and upcoming world class township at Mahalunge.
Time – KUL has analyzed one of the industry’s biggest fall out to achieving time line committed as – approvals and skill labor short fall. Thus to curtail this KUL has appointed listed companies as their contractor s and adopted certain well established mechanical tools learning from various industries who manage a crash time line shedual.
Space – while recently the government has rule s to sell measured carpet area – KUL is one of the few following it for few decades now. They are committed to delivering life style products they say not only 4 wall spaces. Thus this holistic plan guaranty to its clients is a revolutionary step in this industry.
KUL, with its experience of well over four decades under “Kumar Builders” brand has a happy family of over 20,000 customers having built and handed over 12.4 million sq ft of property.