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Old August 23 2012, 12:57 AM   #11
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Originally Posted by annu707in View Post
Dear Kartik and NG - I am also in a dilemma to buy or not buy a flat in pune considering the high prices. My preferred location is Pimple Saudagar as I'm staying here currently on rent and work in Hinjewadi and like the place very much. A 2 BHK here in PS is no less than 50 Lacs and I'm finally thinking that prices are not gonna go down and its better to buy a flat asap. My plan is 20L Down payment and 30 L home loan ( EMI for which should be approx 30K PM )
Do you recommend me going for a 2 BHK, 1000 sq ft flat for 50 L in Pimple Saudagar? Kindly advice.
Thanks in advance.
Anu
Only when the quality of construction and building's elevation is worth the money.
You can get a 2bhk in most parts of Pune in 50L (with horizon of 18 months) so please look into multiple places and projects.

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Old August 23 2012, 10:00 AM   #12
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@Annu
Very true of what Trojon has said. If you are able to afford DP of 20 lac , then better cut short the final budget by 10 lacs and look for re-sales in the area. I am sure you would find deals ,if not in the main areas of pimple saudagar - but atleast a bit interior towards rahtani or on the newly built road towards Nashik Phata.

@All
I am just wondering there are many of us in the forum who are searching for flats within this budget of 35-40 lacs. As pointed out earlier by a member of this forum , why cant we form a self group and approach a builder. I am not aware of the procedures involved in such group bookings , but if we start up a small group say of 20 - 25 sure shot members , then I am sure we can target medium scale apartments say one'z with around 30-40 flats in it with only necessary amenities and not super luxury one's. Alone its always difficult to get a bargain , may be a small group can surely hit a decent target margin - There are lots of stand alone constructions coming up in and around decent areas like PS aka USP(United States of Pimple) , Pashan - Sus Road etc .

Mods : If this is something forbidden out here please let me know , I really dont want to get banned for something that I am unaware of .

P.S Do not flood this thread with "I am interested . . " messages rather PM me .

Edit : If anyone is interested in forming a group kindly PM your response.
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Old August 24 2012, 01:19 AM   #13
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Hi
I think this can help -

1.In Rahatani ,siddhi greens is there with budget of 40 lacs complete .

2.There is one standalone building when you start moving from shivar garden to rahatani chowk right hand side you will find this building in front of some bank .
2 BHK complete package 44 lacs

3.In wakad dutt mandir road there is one stand alone building shubham recidency near costa rica 43 lacs 2 BHK

4.one of the pre launch going on behind rohan tarang near wakad - hinjewadi bridge Behind petrol pump
Rate 3800
full package around 44
marketing done by - Samy network and 99 acres
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Old August 24 2012, 09:42 AM   #14
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Siddhi greens - I was offered 38 lacs all inclusive (negotiable) before a month . But didn't like the approach and the surrounding area. More over 2BHK here is 850 sq ft with 35% loading I guess( Not sure about the loading part though)
 
Old August 24 2012, 12:55 PM   #15
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Quote:
Originally Posted by annu707in View Post
Dear Kartik and NG - I am also in a dilemma to buy or not buy a flat in pune considering the high prices. My preferred location is Pimple Saudagar as I'm staying here currently on rent and work in Hinjewadi and like the place very much. A 2 BHK here in PS is no less than 50 Lacs and I'm finally thinking that prices are not gonna go down and its better to buy a flat asap. My plan is 20L Down payment and 30 L home loan ( EMI for which should be approx 30K PM )
Do you recommend me going for a 2 BHK, 1000 sq ft flat for 50 L in Pimple Saudagar? Kindly advice.
Thanks in advance.
Anu
Annu707in, Let us first know how old are you, whats your marital status, whats your family income, how many kids and size of your underwear.

Here are my answers for possible scenarios:

1. If you are above thirty, has wife and kid and income in the vicinity of 10 lakhs, go ahead and BUY that freaking flat. You have already made all financial blunders of getting married and having kid so one more mistake won't matter.
Owning house has a joy of itself. Renting may be financially a better option but if you are settled in life, you can take this risk. Even if re crashes by 20-30% you would still be losing only 10 to 15 lakhs. Won't mean much after 10 years.

2. If are 25, single and has a good job, DO NOT buy any RE. Your RE investments may make you rich in future but at what cost??? Being 25 is far more prrecisous than being rich. Enjoy it.

3. If you are 35+ and have wife and kids and 10 lakhs+ salary and no investments in RE, you need to take a day off tomorrow. COntact me and we can buy a house for you immediately.

4. If your underwear size is too big ask yourself whether you will remain alive for entire mortgage term. Home loan is 20 years commitment. You may have a term insurance policy but that may not be enough to pay off the home loan and still sustain your dependents (afteryour hospital bills are paid). Health also plays an important role when such long term investments are made.
 
Old August 24 2012, 01:16 PM   #16
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Originally Posted by NG2012 View Post
Annu707in, Let us first know how old are you, whats your marital status, whats your family income, how many kids and size of your underwear.

Here are my answers for possible scenarios:

1. If you are above thirty, has wife and kid and income in the vicinity of 10 lakhs, go ahead and BUY that freaking flat. You have already made all financial blunders of getting married and having kid so one more mistake won't matter.
Owning house has a joy of itself. Renting may be financially a better option but if you are settled in life, you can take this risk. Even if re crashes by 20-30% you would still be losing only 10 to 15 lakhs. Won't mean much after 10 years.

2. If are 25, single and has a good job, DO NOT buy any RE. Your RE investments may make you rich in future but at what cost??? Being 25 is far more prrecisous than being rich. Enjoy it.

3. If you are 35+ and have wife and kids and 10 lakhs+ salary and no investments in RE, you need to take a day off tomorrow. COntact me and we can buy a house for you immediately.

4. If your underwear size is too big ask yourself whether you will remain alive for entire mortgage term. Home loan is 20 years commitment. You may have a term insurance policy but that may not be enough to pay off the home loan and still sustain your dependents (afteryour hospital bills are paid). Health also plays an important role when such long term investments are made.
Harsh reality...liked the Underwear method
Guys, spare him, he just joined the IREF, may not be aware of all things we discussed here.(he might be silent reader also).Seniors members need to guide newcomers...i recommend him to go through some threads before taking decision.There is some good literature available on forum with real experiences.
 
Old August 24 2012, 02:04 PM   #17
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I think getting a 2 BHK for 40 Lacs should not be a problem....if you look out for somewhere between PS and Wakad like Kaspate vasti...Kalewadi phata area...these two places atleast looks cheaper in prices and also in looks ...though not investigated
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Old August 24 2012, 02:18 PM   #18
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I have gone through both the areas very thoroughly .

Kaspate Vasti - There are decent buildings . Most of the resale deals here are for 4-5 yrs + apartments. Do not expect anything within 40 in any new flats .

Kalewadi - Area is not good at certain places. But there are some good liveable colonies in the interiors with good cosmopolitian crowd. Most of the deals here would involved self developed land ie the land owner himself has developed the land unto a building. Do not expect utmost honesty "Once a broker called and said sir hazar sq ft ka flat 33 lacs .. Sab kuch acha hai .. Blah blah. At that time , I was pretty new to RE and went like a scape goat to have a look at the flat , I was shocked seeing the pathetic quality .. There should have been at least a 100 nails in the wall and it was 850 sq ft. The broker said sir woh 1000 bola to aap aoge na .. isiliye bola .. I was like WTF ! "

But you can get deals if you investigate properly and hook up with right contacts in these areas. And there was a conception that these areas are dominated by scorpio chaps- this is not true entirely ! Also kaala dhan aka black demand is much higher in resales of these areas - they wont register more than 50-60% of the flat value in agreement - so go only if you have ready cash !


Cheers,
Pai
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Old August 24 2012, 10:49 PM   #19
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Quote:
Originally Posted by sauravpune View Post
I started my home search 2 years back with a simple aim to find a good 2bhk flat in pune with all inclusive budget of 30 lacs. Till that time I was not aware the the builder tactics,mumbai investors and pune 4th,5th ..10th home buyer will ruien my dreams.....
Read your post & can very well understand your frustration. But then you have to decide whether to buy inflated product which will drain your finances & stay out & buy once you are financially healthy. This means either prices fall so as to match your current income, your income rises to match the prices or both.

When you deal with money, do what is said by your mind;
When you deal with people, do what is said by your heart.

If you try mix up the 2, you end up loosing both.
Have patience, everything will fall in place. Me too had same frustration (about other stuff & not RE earlier, now I am least bothered about that).
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Old August 24 2012, 11:25 PM   #20
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Originally Posted by sauravpune View Post
... I started my home search 2 years back with a simple aim to find a good 2bhk flat in pune with all inclusive budget of 30 lacs.
2 yrs back i.e. ~mid of 2010, there were apartments greater than 1000 sq ft available at ~33-34L in Wakad. And then there were locations much cheaper than Wakad during the same period. If you were keen to look out for something concrete, I believe there were places available for taking. RE is as much about ability to pull the trigger as it is about finances.
 
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