saprenikhil123

Hi all, I am looking to buy a flat in Pune/suburbs solely for investment pupose and/or giving it out on rent. After looking at Wakad, Kondhwa, Chinchwad, NIBM, I came across "Dreams Aakruti Poject" in Hadapsar during my search. The details/specs of the project are at dreamsaakruti.com. I have not visited the site yet as I dont live in Pune; but from the details they have given, the project looks appealing. I spoke to the sales person at the builder's office and he quoted 2100 psf, 2150 for back-facing (I dont know what that means), and 2200 for garden-facing.

Can anyone here please share their views on this project. Also, is the rate that has been quoted here, correct wrt Hadapsar ?? Furthermore, there is a completed township by the same builder, in the same area called "Dreams Estate" wherein flats are available for resale in at round-about same price, so is that a better option ??

Any suggestions will help.

saprenikhil123

Looks like no one is interested in Hadapsar or Dreams Akruti.

Please people; if anyone has any idea about this or any suggestion or advice or comment; then it will only help.

Many thanks

aditi sharma

This flats look quite compact by their floor plan.
There are several projects I have checked around Handewadi road, but not this one. I think for investment purpose, Runwal Seagull might be better option. They have 2bhk Around 20L (but check other prices, size of flat, and possesion) I have seen Runwal seagul site, it looks good and their layout is good. The sample flat I saw at Runwal was bigger layout 2BHK(1000+ sqft) But I have not seen their compact flat.

My opinion is, This is not area if you are looking for investments.
For 25L flat, you wont even get 8K per month rent (only if you are in magarpatta, you can get 11-12K rent for 2BHK) not outside.

To give a 25L property on rent for 6-7K is foolish idea.

tsongt

Get more data from the builder on the total cost, and also the posession date.

If you are going for "investment purpose" then you can certainly wait for at least 6 months. Park your money in a bank FD which will appreciate at least 7-8%, whereas do not expect RE to appreciate for some years - infact wait to see a deep correction in Pune.

From a investment perspective, this area may not fetch you good returns on rental income.

saprenikhil123

Aditi; thanks for the info about the 2 projects. However, considering I am specifically looking at 1bhk only; can I expect a rent of 4-5k for 500-600 sq ft flat ?? Because if possible then that coupled with a minimum 8-10 % annualised property price appreciation is an acceptable deal for investment in a fixed asset.

Also, I am being offered a 550 sq-ft, ready posession, resale flat at Dreams Estate (handewadi road) for 12 lakhs (all inclusive). Does that sound appealing ??

tsongt; thanks for the advice. The possession date is June 10 and total price is 13 lakhs. Btw, do you really think that prices will reduce, especially with Diwali coming ?? By when do you think will the prices in Pune correct deeply ??

Even though, Personally, repenting for losing out on the opprtunity in hand would hurt me more, than the joy I would get by saving some money in the future (which is not even guaranteed); I can still wait for a beter time .. ..