Originally Posted by alice69in

Team,

I am residence of Pune since 1983 and seen this city grow. I have seen various parts of Pune getting developed. But the way realstate prices have grown in Pune is ridiculous......! I have been looking for 3 bedroom flat for the past one year and its amazing to see how builders in Pune are taking Pune residence for a big ride....! ( 1500sqft) 3 Bedroom flat in any part in Pune is
Kothrud : 90 lacs
Baner : 70 to 80 lacs
Wakad : 65 to 75 lacs
Kalyaninagar : 75 to 90 lacs
Vimannagar : 65 to 75 lacs

Average cost is Rs 65 lacs. This price has inclreased in the last 2 years. I did following analysis
Downpayment : 20 lacs ( this is a maximum salied person can put) and balance 45 lacs on loan which close to 48K per month EMI for next 20 years.....

Crazy guys...... What has changed in Pune ? Couple of stadiums, Bad roads and inflation..... Then why pay so much for areas which does not even have water to drink????????

Best thing is stop any new purchase and wait for right Real Estate to come up. I am from IT and really worried over Obama statement that outsourcing to India to be reduced... There have been no increments in the last 12 months. Next increments are mere 5% to 7%......!

THEN WHY TAKE LOAN TO MAKE THESE BUILDERS RICH IN PUNE????