Dipti

I am getting a 1 yr old flat for 24L inclusive all in Pimpri area. Flat reaa is 1025 sq ft. The locality is not so great and not so bad. Its 2-3 km inside from the old Mumbai-Pune high way.

Is it worth buying?

realacres

Can you precisely let us know the location & specs/amenities of the project?

Dipti

The society has play garden, swimming pool and club house. The other internal amenities are: video door , water filter, inverter backup for each flat. I am not expert to guess abt construction quality, but there were no cracks.
Shall I go for the deal?

Bhonsle

Dipti,

I think if you are comfortable with the locality and the apartment you should go ahead. It will cost you approximately 26 lacs considering stamp duty / registration etc.

Ask some society members living there for more information about the leakages and other society issues/maintainence etc.

Dipti

24 L is all inclusive (Parking (1.30 L) + Registration + Stamp Duty).

skkoul

what are the amenities in the society .deal is ok but just check the builder construction first.

realacres

Do you know what was the booking rate here. Will prove useful before proceeding further. Btw, what is the current price in that area. See if you get comparable property elsewhere nearby at low rates & use this as point to further reduce the rates from reseller.

If you liked the project, residents are happy & there exists no large difference between the booking rate & the price quoted to you & infra is in place, then you can well go ahead.

Before that though get all the documents of the deal between the reseller & builder checked throughly. There should not be any 3rd party mortgage on the flat, else you become liable for that. Also check for completion certificate & occupation certificate. If competition certificate is not there, it means that the project is not yet complete/some sanctions are pending.
Don't fall for lame excuses that it will there SOON.

Dipti

Thanks realacres for the detailed reply.
I ahd checked the completion certificate for the scheme. and the flat is just a year old so the owner has all legal docs ready.
One thing I would like to clarify, the builder has given individual deed for the flats in that scheme (so thye seller do not need the society permission while selling the flat). No society formation has been done by the builder and even the resident have not formed the society yet.
Is this ok. Or is there any risk?

RAJESHP

Whatever you decide, just remember you are now in Buyers market. Take your own time and decide. Dont be under pressure from broker or seller to close the deal early. This is something you will buy once in life time. Take your time, talk to people who you trust and ask their opinion.
My personal view is this is not a very great deal for Pimpri area that you should be in a hurry to close.
It it always better to be patient when the market is in correction mode. You may get better deal 1 yr down the line, and you may find yourself stuck with this deal later on. You may be hearing from many people "If you can afford it and will live in it buy it", all these is crap. Paying more than worth even if you can afford is very bad idea.

realacres

Society formation or not is not a major issue. Several builders never form society nor do any of the townships as they are managed by builders themselves.

I agree with MaheshP to what he said above.
Btw, you still haven't informed us the precise location. Hence, can't help much about rate.

If at all, you go ahead make sure you hire a good lawyer unknown to the builder, probably in your own circle.

Btw, this is what I have posted on Safeguards thread. Check this out too.

Dear members,

For the project of your interest,

1.) Always check whether there exists a CONCRETE WALL/COMPOUND around the project. Having a CONCRETE WALL?COMPOUND means that the area has been properly demarcated for the project & a NOC has been obtained from the adjoining plot holders. This procedure is done in the presence of the adjoining plot holders in presence of concerned civic officials from city corporation (not Amanora) of PMC/PCMC etc.

If there exists mere compound of just wired/mesh fencing, it means that demarcation has not been done. If proper wall is present on say 3 sides & while on the remaining 1 side, there exists wired compound, it means that NOC has not been obtained from the concerend plot holder & there exists some type of litigation over there.

Such cases usually happen & later the builder (if has shown amenities etc on the such type of side later on could not built it as the adjoining plot holder claims right on that area.) Hence, make sure that before you buy, the concrete/walled compond wall is built around the project on all sides.

Eg. One project in Wanowrie did not get the landscaped garden as the garden where it was planned was besides the fenced side & NOC was not obtained. However, later one of my friend met the adjoining plot holder & to his surprise, this plot owner too had stakes in city RE. Hence, an out of court settlement was reached & NOC was given. However, not all the projects are lucky enough.

2.) If you are looking at almost close to completetion projects, make a point to go on the terrace & see whether there exists some provision in form of small pillars & ducts (small ditch) on the terrace above the toilet/bathrooms of top floor. If such structures exists, it means that the builder is planniung to build additional floor on here. Hence, be assured of smooth & leveled surface of the terrace which is pillar & duct free. In addtion to this see whether the lift room is complete. This indicates that the building indeed has got over.
Note that there may exist a duct in case of a penthouse where common terrace is absent. Hence, in such cases look out for lift room & overhead water tank.

Eg. A project (don't remember the name) near moon city on suncity road even today doesn't doesn't have lift nor overhead tank. REASON:- The prices here shot up & builder wanted to construct adddtional floors. However, in the end he could not do so & left the project. Currently, the residents here don't have lift & they have installed a Sintex tank for water which proves insufficient for them. Note that this was a local builder, but in case of big builders (according to Pune RE), the projects get delayed as builders holds on for additional floors. Such instances have happened at Baner-Balewadi, Sahakarnagar etc. Hence, despite complete bookings, projects get delayed..

Friends, the above 2 steps doesn't cost you a single dime but goes a long way in assuring some peace of mind once you are in the project. These are the things which even a lawyer can't tell as he judges everything based solely on the papers, but there exists a provision called 'PLAN REVISION' which can be given by the builder to PMC to make last minute modifications.
(In the brochure/agreement in many cases it is written that 'THE BUILDER RESERVES THE RIGHT TO CHANGE/MODIFY THE LAYOUT,FLOOR PLAN, ELEVATION, COLOUR SCHEME AMENITIES, FLOOR PLAN, NO. OF FLOORS/FLATS ETC. WITHOUT ANY PRIOR NOTICE'.)

Always remember that the current laws are in favor of builders & not the buyers, but such cautions if taken on time will assure of some peace of mind. Now it is upto you whether you want your mind to be in PEACE or in PIECES!
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