pams4u

Hi All,

"Umang" Project in Kolte-Patil township(Lush County) at wagholi is delayed?? And the site manager is saying that it will get delayed by atleast 3 months because some clearance is pending...!!

Do you know more about the this project and your views on it?

Kind Regards,
Pramod

pams4u

When I visited the site yesterday, It was found that nothing has changed at site from last 3-4 months. and Also I met another person who has booked flat in same project in June 2009 and he was saying that the same site manager was telling him that his possession will get delayed by at least 6 months time and if he wants to cancel the booking and get back his money, he will have to wait till the flat he booked will get new customer.

realestate diva

Hi Pramod;

Have you booked a flat for yourself there? I've booked one and have been cordinating with Padmanab and i've been told the project will commence in March... do u think there's an issue or are they really awaiting some approvals?

Pls mail in your views, who are u dealing with in kolte?

pams4u

Parvej khan..when I booked the flat in October he told me that the construction will start by Dec 2009 end and now he is telling me that it may start by March end..They are still waiting for Eco friendly clearance...And also he is not 100% sure about march 2010 start date.

realestate diva

Did u buy it for 2050 psft? are u gonna wait till March ? What is the rental one can expect to receive for a 1bhk in wagholi?

realacres

Guys, I really fail to understand why people in current times buy in a project whose construction has not even started.

razer

Promises! People like promises and surprises.

puser

Launch rates are lower compared to ready possession.

People cant afford anything else except these lower earlier rates

People are ready to take risk hoping future price appreciation.

They are under pressure (subjective) to invest in some form of real estate

razer

Good points. I also think many of them decide to not take loans if they book early on, and prefer a interest-free pay-as-you-go model.

ash7979

I think otherwise...GREED make them to do so....

And we all know more more gain...No risk no gain...But you should know where to take risk...Taking risk with Builders (in under-construction projects) is like throwing your money in the Ditch...Indian Builders (Specially pune's local builders) are not unreliable CREATURE on earth & I dont know how one can trust them at all

And taking home loan is the best thing & you should not buy a house even if you can afford that without home loan.

1.Taking home loan (specially from PSU bank) then they will check all the papers on your behalf, as their money is also on stake.
2.Home loan are the cheapest loan available in the market & if you can get it from some PSU bank at good rate then you can earn better return from your money...(Say you can get Home loan less than 10% & you can get around 15% return from any good MF & that also tax Free if you hold for them for more than 1 years).
3. Home loan gives you a good amount of tax benefit.
4. With home loan you can stretch yourself a bit to buy a better home (that you may not able to buy with the money you have at that point of time).

And there a lots of other good points are there related to home loan..so I would always prefer minimum down payment at the time of booking & then pay with my bank as construction proceed, this way you can also minimize your risk to stuck with a builder who is building your house at slow pace & you are losing interest on your already paid money.

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Cheers,
-Ashish