abeerbagul

Who will buy the land and split it into parcels? We did a lot of hunting around in Kothrud and Baner area, but the main problem is banks dont give loan for buying land (only loan after construction starts, and sellers do not want instalment payments.

Suppose you want a society with 10 bunglows. consider 25% area for roads, garden, clubhouse, security.
If plot size is 3000 sq ft, a land of approx 40k sq ft is required. Current rates for small bunglow plots in Baner are from 1500 to 2000 per sq ft.
So if you get a large land parcel for 1000 per sq ft, still you need 4 Crores cash down for the land.

Jitu_Sir

Dear abeer,
Just wanted to add, that even if one has X Crores and is ready to pay, still its not sure that the land bank is clear in title and there is no litigation/ complication. Primafacie though it looks OK, but when we go into legalities and discuss the papers with advisor/ consultants, we realise that there is far more risk involved.

abeerbagul

As regards land, there are two things which are important:
Title verification: Is the 7/12 extract genuine? Verifying this has been a headache for even established builders like Jitu. DP issues, zoning, etc have to be dealt with.
Also, how will you protect the land once you have bought it. This requires muscle power, nothing else.
Example:
A friend who is a builder in PCMC bought some land in Ravet. The 7/12 extract was ok, etc. He got the title, fenced in the land, etc.
After 3 years, he got a call from someone claiming to be the forgotten son of the former owner. This son claimed he was also a rightful heir and wanted compensation. To reinforce his claim, he got the local MLA along with a couple of goons!

If you are prepared for such situations, fine. If not, consider what you will do when you get the threat call from the local politician / bhai.

realacres

For buying land, one requires the following:-

• Loads of B-money,
• Muscle power,
• Right contacts at right places.

If these 3 things are there, you can settle legal issues out of courts, change DPs if required, get land converted from agri to NA under 2 weeks, get all the infra done at your place. However, when one gets into this, he speaks not in sq ft but in acres!!!! The land has to be big to take these efforts. No point in doing all these things for few thousand sq ft land.

For those who can't do the above, the other way is to buy in a gated community, though the price will be more than free hold/agri.
Some egs. are DSK Vishwa, Dhayari; Varsha Society, Baner.

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puser

If one has all the 3, then one will become builder and earn 400% or more profit .

Why would he need to look for a land and build his own house hoping he would be making right decision instead of paying high price and compromising with floor plan at the builder.

realacres

LoL. But I have seen some corporate big wigs doing the same. Man, you can't have private party lawns, private gym & swimming pools, car parking for tens of cars plus additional bedrooms for your special guests:p as well in a flat/small bungalow.

But yes, this won't be fair to compare people who are looking at buying flats & want to buy land for house. Hence, as I said before, they should look at gated communities like DSK Vishwa.

Trojon

The following is an excellent letter on all aspects of Land selection and House Building and is pretty relevant to Pune:
http://www.jalvayutowers.net/newsoth...herafnhb.shtml

Someguy

Thanks for that link, Trojon.

2500 psf includes the cost of planning for some of the contingencies that have been brought up. Any estimate for those is however very rough since the nature of the contingencies cannot be predicted ahead of time.

I am currently in Baner and don't see myself moving to Dhayari. Very different locations.


I am hoping to have some suggestions on:

• alternate funding for land purchase or even alternate structures for the whole venture
• people's preferences in terms of plot size/location/amenities/price points etc.

realacres

Thanks for this link man. Very nice indeed.