drole12

I have purchased a Villa (victoria) in Nyati County at Rs 3150 in 2007, its a gated community with land registered in the owners (MY name), 24 by 7 security, the closest project Kumar Palm spring is quoted at Rs. 4500 to 5,000. I am happy with the appreciation as well as the develpment happening around it. First I had doubts on the appreciation but its confirmed..

puser

Did you check about water issues at around Nyati County? Also did you get posession or living there already?

asliarun

Assuming you paid 3150 for land and construction, you have made quite a wise choice, in my humble opinion. What is the plot size, if you don't mind me asking?

Someguy

I live in Baner and have been looking for a decent bungalow plot for a while. Your suggestion of building a gated plot community got me thinking and need some info to see if the numbers work out.



What would buyers be willing to pay for a plot with the following specs:

• no frills. no swimming pool/clubhouse.
• restrictive deed to ensure max G+2 structures in the society
• clean title, all other paperwork, bank loan eligible
• owner must build and occupy within 24 months of purchase, and may not sell within X years to discourage short term speculators
• untarred internal roads
• in and around Baner - this side of the river and highway, owners should be able to build and live in the society from day 1 - this location premium will be reflected in the price
• plot sizes around 3000 sf
• no other amenities, owner(s) to secure water/MSEB connection themselves etc.
• no group buying etc. I buy the land and do the subdivision and take all the risk. Plots sold to professionals only on a first come first served basis.
• 24 hours security, secure perimeter wall.

I realize that there may be more money to be made with an apt community but I am not planning this for the money. And I am not a builder so I wouldn't be able to take on the construction anyway. I am familiar with property paperwork and the Baner neighborhood and think that such a community would be a win-win all around. I'd get a nice bungalow to live with, professional neighbors and hopefully make enough to cover my opportunity costs.

PS: This is just a thought experiment. At least as of now

asliarun

Plots like this are being sold for about 2000 a sq ft in Bangalore, in similar locations (outskirts).

Someguy

Hmm. After checking out a few properties and other due diligence, it seems like we would fall around 2500 psf taking the following into account:

• proper Baner
• residential NA
• FSI of 1 (or more)
• asphalted internal roads (upgraded from original spec)
• central water tank with softening plant
• MSEB connection to plot

Buyers would pay 2500*area plus stamp duty plus registration plus one time maintenance. Inputs that went into this number crunching: cost of land, paperwork, compound wall, water (tank+pipes+softening), MSEB connection, space for roads, other mandatory free space, road building etc. No common sewage and no streetlights.

Can someone do the number crunching independently and double check the numbers ?




Also, are there any buyers out there at these prices. A house on a 3000 sf plot would cost:

• 3000*2500 for the land
• stamp duty+registration+maintenance
• construction(3000*1200 assuming utilising all of the FSI and construction costs of 1200 psf)
• Totals to about 115 lakhs

Flat rates in the neighborhood are over 3500psf. A 3000 sf carpet area flat should come to about 110 lakhs all inclusive.

This doesn't seem much better than buying a flat. The high ticket size may also mean smaller interest in the project.

Seems like a non-starter unless I am missing something

puser

I think we first need to identify "what it takes to buy a land and build your own house"( legal and financial transactions one has to follow) and area calculations like how much land would be needed to have say carpet area x sqft plus parking area y sqft; with compounded wall around your house of standard thickness; a space between compound wall's inner side to external side of your house wall. I am talking of only ground floor as of now; not 2 storey.

If anyone can put some light on it, it would be useful

asliarun

Based on what I've observed in Bangalore, firstly, plot size of 3000 sq ft is actually quite large. A large plot in Bangalore is usually 60x40 (2400 sq ft) which is actually more than sufficient to build a large house. Most people actually buy even smaller plots, in common configurations of 30x40 (1200 sq ft - most popular) or 40x40 or 40x50. I am not sure how the FSI system works in Pune, but I've seen people build really beautiful houses in 30x40 and 40x40 plots with a little space to spare for lawn and basement car park (1/2 floor below). These houses will look way better than row houses commonly sold in Pune. They will each have their individual personality and style, and will not share any common walls with another house.

We're not talking about mansions here, but all things considered, a 3BHK can be easily constructed in a 40x40 or even 30x40. If you assume construction of about 1500 sq ft and a plot size of about 1600 sq ft, the construction cost can be kept down to about 20 lakhs. If you assume land cost to be around 40 lakhs for the plot, the total cost would be about 60 lakhs. Doesn't that sound way better than paying 50 lakhs for a 1500 sq ft 3BHK? Remember, we're talking about 1500 sq ft of carpet area (or close to it), and not some garbage "saleable" area. I'm sure people will gladly pay a premium for an independent house over an apartment, even if they have to stretch their budget. For example, the construction can always be done in phases to keep the initial cost down.

If you bring down the specs to 1200 sq ft (30x40), the entire house can be built for about 48 lakhs (30 for land, 18 for construction). Again, remember, 1200 sq ft is actually equivalent to a 1500 sq ft apartment in terms of saleable area.

Edit: One more thing: Building an independent house will always be more expensive and even more complex than buying an apartment. It cannot be considered purely from the perspective of being cheaper than an apartment. Plus, property tax will also come into the picture, although I don't know how much it is.

However, the land will almost always appreciate over time, and it will also give you complete independence over the design and construction of the house. I saw one design in HSR layout done by a final year architecture student (who eventually won some awards as well) that was truly stunning, and the entire construction was done at about 0.7 times the price of standard construction. Some examples: They had used a lot of ethnic stuff like Mangalore tiles that looked very nice but was actually quite low price, old bottles embedded in boundary walls to give a colorful effect and lighting, and the bricks were made with clay and mud that was excavated from the site itself.

Basically, the pride of ownership of your own house and your own design will more than compensate for all the hassles.

compuwalah

IGRM. Please ban this guy . He is pasting similar advt in Noida forum.

aditi sharma

Report such posts as SPAM. this way it will reach to moderators.
Look at the 2 icons in each post, down below in the colum where member's name is written.

http://www.indianrealestateforum.com/report.php?p=62543