Pune_HHunter

Hello,

I have been looking out to buy a 2BHK, I do not have much experience on the RE front. Criteria is - Spacious 2bhk in Baner, Pashan, Balewadi, Wakad with budget of 35 L.

I had few doubts, I am sure I can leverage on expertise/suggestions of this community and it will help me to come to a conclusion.

I have been to few sites out of which I have liked Oravi at Balewadi. The other sites I have seen are Sahil Saga - Near Baner PanCard Club, Peonny - Near Sus Road, 52 Green Woods - Near Sus Road, Maxima at Wakad, Madhupushpa at Wakad.

I had few question about this site Oravi in specific, The project seems to be good but...

(1) How is the reputation of builder - Mr. Bandal
(2) They are quoting 2742 and that too on
A = Carpet area + dry terrace + 50% of Terrace
Total Salable area = A + 30% loading of A

Ideally how the loading factor should be ?
Should it be only on Carpet or it varies from builder to builder ?

(c) During the Calculation only 50% of the terrace area is counted, does same apply to the Utility area also, should that also be counted 50% ?

(d) Current rates are 2742 and the approximately the total price will go upto 41 + 2L for Parking
My max limit is 35-36 L.

- IS this a right place to invest such a huge amount.
- IS this place worth spending this much amount.
- How is the Balewadi area compared to Baner, Wakad. Shall I think about puttting my hard earned money here ?

(4) The project completion date seems to be Sep'10. The main doubt I have is about the completion on time. As I have heard that this project had got into problem of financial crunches.
Can please some expert comment on this - If it's worth taking that risk or The builder group is strong and descent enough to finish it by atleast Dec-10

If compared to Oravi, How are the sites I mentioned earlier - i.e. Sahil Saga, Peony, 52 Green woods? OR if you could suggest any other better sites within my budget.

I have been looking for a house since quite some time and have got kinda tired, din't like many places due to the space issues. This one I have really liked but I am v confused about how to go about it.

Any Help, Suggestion will be highly appriciated.

Thanks.

kirunOnly

Regarding your above points,
Salebale Area = Carpet Area * 1.25 + (0.5 * (Terrace+DryTerrace))
Some builders twick this equation to increase Salebale area which is just for making more profit without offering anything more to buyer.
Salebale Area = (Carpet Area + (0.5 * (Terrace+DryTerrace))) * 1.25
Builder also charge more for Amenities, MSEB + Water + Registration + Society Formation.
According to ethics, MSEB+Water should not be more than 40K and parking should be free if you are buying 2-3 BHK but in pune it's not the case and you pay 1-1.5L. I think, for separate parking 75K should be fine.
Your effective rate will:
= TotalCost/Saleable Area(if Saleable mentioned in agreement) Else
= TotalCost/Carpet Area(if Carpet mentioned in agreement).