rtsbzi1

hi everyone,
I needed urgent response regarding pune area property.I am inprocess of finalising deal in chandani chowk area for 45+stampduty+registration for abt 1000 sq.ft flat.Was wondering if experts on this forum feel this is right price for this area.Actually i have been on lookout for last 2 yrs but priices in this area don't seem to come down below this for psf.Don't know whether I missed the bus/train/boat etc...
btw need the flat for personal use and not as investment.Do the experts feel rates can go below this and if so by how much?
Also,thanks for taking so much of your valuable time in helping people like us in clarifying RE matters
btw the agent i am going thru was saying that RE is picking up again....it seems he alone has done bussiness of upto 9L..he is not a fellow who tells lies,so don't know whether I should close deal or not.....CONFUSED....waiting for govt to act soon

sam_sang

that makes the rate above 5000 psqft in chandni chowk - a bit astronomical i would say... but if time and urgencies are not in your favor - no point spending too much time in R&D

w_sanjay

Is this resale flat ? If yes what is the exact location and scheme name ?

Is it Ved vihar ? If not tell us the location or scheme based on that we can tell you if the offer is good or bad.

frugality

so he is shareing his earnig with you, right .... is that brokder your relative ??
even to not so close relative generally the earning is ballooned ...

so if 9 L he has made this year that makes you think that next one year he will make 20L ??
and later 30L and so on for next 5 years
only if that happens your investment will be worth as that will mean increasing prices for homes ...
but if he makes 4.5L next year and 3L next year then you are buying at a peak...

these brokers if they don't tell less then 100 lies per day they will not survive ..
and there is no lie-o-meter yet made who can measure builders and broker's lies per day

Similarly your flat value at 48 now next year 55 .... 59 so on
but what if it goes 48 ....46 ...44 ...
Unable to understand ???
go look at any stock market chart and look for peaks and bottoms

bloger

so u r buying home at 45+ 5 (other stuff) = 50 lakhs, thats just for 2 BHK in kothrud.

Here is my suggestion, dump the amount in FD, and earn 4 lakhs per annum just on interest. Pay 1 lakhs per annum as rent and increase saving by 3 lakhs per annum.

Mere your asking the question whether to pay enarly 50 lakhs for 2 BHK makes me wonder in what frame of mind you are in exactly. Thats half a crore man. Value your money, If no one pays, 2 BhkS in kothrud can be bought at 20 lakhs.

I do not think builders are at blame to raise the prcies. I think its stupid buyers who do not value their money and join the mad rush. They will realize how horrible the decision is in nex few years when thye have to repay unmanaged EMIs and other family responisbilities growing.

zswap

I agree to blogger. 50 lacs for 2BHK is tooo much !!!

rtsbzi1

Thanks guys for ur immidiate responses.The flat was in ved-vihar...I am saying was because the deal will not go thru...owner not willing to negotiate.Actually every deal till now in kothrud area for bldg less then 10 yr old has started with base price of 40L +.let's see naseeb mein hoga to badmein dekhenge....btw the 50 L is wholly based on loan,so cannot earn any interest on that....

hitmady

Loan of 50L is very scary. It means paying appx. Rs 45000 EMI with the possibility of interest-rate going up.
How much rent that property fetches?

rtsbzi1

rent i guess is abt 10000-15000 pm.

realacres

Then in even worst case, you should buy this for 30-32L.