Don't buy Flats in Pune....Now...! - Indian Real Estate Forum

alice69in · 02-02-10

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????

Trojon · 09-02-10

I think I have seen this comment in some other posts as well.
And your prices appear inflated by about 25% for no rhyme or reason

Kuch naya likh bandhu

Quote:

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????

Jagannath888 · 17-10-10

I agree with Alice. The only way to make them (builder lobby) realise our apathy.

''Stop Buying''

''Start Renting''

frugality · 21-10-10

Quote:

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????

We already knew :
Pune Flat prices are now way ahead of US prices, not in terms of Value for Money but in terms of Sq. footage, if compare formar then its almost double that of US Prices.

Now Congratulations to all of RE Buyers/Investors

They are now Comparable to UK prices

Comparing Oranges to Oranges therefore ignoring London's Prices
As Pune is not Mumbai so cannot be compared to London.

Rather for some areas they are higher then UK

And note that UK has land Scarcity unlike India or US.

So what

mukeshb · 22-10-10

Then who are the ones buying so many flats in Pune?

How the brokers are making Lakhs (sometimes I too feel, I should leave my job and become broker

)?

How can everone understand the real rate and buy at the right time?

harshalx · 22-10-10

Despite brokers making lakhs, or even crores, have you wondered why they have been traveling on the same old bike for last 10 years? Or the same old Maruti 800. How come they never thought of an upgrade?

mukeshb · 22-10-10

Quote:

Originally Posted by harshalx

Despite brokers making lakhs, or even crores, have you wondered why they have been traveling on the same old bike for last 10 years? Or the same old Maruti 800. How come they never thought of an upgrade?

Because like us everything is not white for them. Its all in black and how many pays fully income tax, God knows.

Just imagine selling a flat 2% brokerage from both party...doesn't it shows the picture.

MANOJa · 22-10-10

This is the state of RE & the prices , with most cities in India .

Pune , is not the lone sufferer , on this account .

I have been visiting Pune regularly ( had lived in Pimpri & Erandwana for a couple of years too ) from 1983 onwards & have seen the gradual development .

Quote:

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????

harshalx · 25-10-10

Quote:

Originally Posted by mukeshb

Because like us everything is not white for them. Its all in black and how many pays fully income tax, God knows.

Just imagine selling a flat 2% brokerage from both party...doesn't it shows the picture.

haha. So you mean to say that they have trouble buying a simple Hyundai Santro (to upgrade their 800) with B Money? C'mon man, get real.

nimish1981 · 25-10-10

Quote:

Originally Posted by alice69in

Baner : 70 to 80 lacs

Well, I got a flat in Baner about the same time last year. Now the quoted price has gone up by 30%.

02-02-10	#1
alice69in Member Join Date: Jan 2010 Posts: 80 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Don't buy Flats in Pune....Now...! 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????

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17-10-10	#3
Jagannath888 New Member Join Date: Sep 2010 Posts: 40 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	I agree with Alice. The only way to make them (builder lobby) realise our apathy. ''Stop Buying'' ''Start Renting''

22-10-10	#5
mukeshb New Member Join Date: Oct 2010 Posts: 17 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Then who are the ones buying so many flats in Pune? How the brokers are making Lakhs (sometimes I too feel, I should leave my job and become broker )? How can everone understand the real rate and buy at the right time?

22-10-10	#6
harshalx Member Join Date: Apr 2010 Posts: 279 My Mood: Thanks: 0 Thanked 4 Times in 2 Posts Rep Power: 1	Despite brokers making lakhs, or even crores, have you wondered why they have been traveling on the same old bike for last 10 years? Or the same old Maruti 800. How come they never thought of an upgrade?