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Old October 31 2010, 10:15 AM   #1
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Default Magarpatta resale 2BHK IRIS

Hi,
I am living in MP on rent from last 3 years, and wanted buy a flat here. I have seen resale price increased so much. last year it was around 33-35 L for 2BHK iris, now they demanding 42-43.
Any suggestion? I liked the cosmos but it ask for 44-46L, my budget is around 40 only

Thanks,
Raj

 
Old October 31 2010, 07:57 PM   #2
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Quote:
Originally Posted by raj_123 View Post
Hi,
I am living in MP on rent from last 3 years, and wanted buy a flat here. I have seen resale price increased so much. last year it was around 33-35 L for 2BHK iris, now they demanding 42-43.
Any suggestion? I liked the cosmos but it ask for 44-46L, my budget is around 40 only

Thanks,
Raj
This price is not worth for Iris or Cosmos as you can get one at Roystonnea which is far better than these 2. Also check out Trillium & Sylvania. In Sylvania options are present from builder as well.
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Old October 31 2010, 09:27 PM   #3
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I had seen few adds but in roystonnea the price is more than 46-48 L for 2BHK, Any help in getting the latest price trend in magapatta.

Thanks,
Raj
 
Old October 31 2010, 10:17 PM   #4
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Do work out in reverse way the actual price being charged...

Eg.

45 L flat ... 1000 sq ft built up.
25,000 to MP city (as it's a 3 way txn).
200,000 to MP city ( for diff. in lifetime maintenance)
Check Parking costs included or not
Stamp / Regn : 200,000

Total cost in excess of 50L. which is 5000+ /sqft. Again, this is builtup. Carpet will be around 20-25% less.


~D
 
Old November 1 2010, 11:34 AM   #5
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Originally Posted by rendezvous View Post
Total cost in excess of 50L. which is 5000+ /sqft. Again, this is builtup. Carpet will be around 20-25% less.


~D
Carpet + 25% ~ Built-up.
But builtup - 25% ~ Carpet.
One needs to reduce almost 33% & not 25% from built up to get carpet.
Btw, at this price, better look at areas like Vimannagar. Much better than MP City.
 
Old November 1 2010, 11:46 AM   #6
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Can you tell me how much your RENT has increased since last 3 years and since last year ?

Has it increase 30-40% in ONE YEAR ? ...tommorrow somebody will quote 60 lacs....6 months later 90 lacs....does it mean..it is the average price...


JUST COMPARE IT TO YOUR RENT
 
Old November 1 2010, 11:58 AM   #7
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Magarpatta is hell to buy a flat, be it for investment or for end-use.

A friend was looking out for a 2bhk in IRIS, he had got offers for around 33L last year but he didn't buy. Now rates have gone up. Partly due to market and partly due to magarpatta increased their maintanace charge by 2L. Investors are asking 35L in hand, which is fair from their side seeing how rates have gone up everywhere in pune. But to get this 35L in hand, buyer has to shell out 41-42L. 2L for stampduty/reg, 2.25L to magarpatta and 60k-80k to broker. There are no real buyers at this rate. In some isolated cases, people buy fearing further rate hike. but many investors are in dump as 5L worth money go into vein.



Quote:
Originally Posted by raj_123 View Post
I had seen few adds but in roystonnea the price is more than 46-48 L for 2BHK, Any help in getting the latest price trend in magapatta.

Thanks,
Raj
 
Old November 1 2010, 08:26 PM   #8
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Originally Posted by realacres View Post
Carpet + 25% ~ Built-up.
But builtup - 25% ~ Carpet.
One needs to reduce almost 33% & not 25% from built up to get carpet.
Btw, at this price, better look at areas like Vimannagar. Much better than MP City.
Yep, absolutely right.
If 20% is the carpet TO built up, then 25% while coming down (that was the scenario I was referring to).
If 25% is carpet TO built up, then 33% while coming down (you are right )
 
Old November 1 2010, 10:17 PM   #9
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Originally Posted by aditi sharma View Post
Magarpatta is hell to buy a flat, be it for investment or for end-use.

A friend was looking out for a 2bhk in IRIS, he had got offers for around 33L last year but he didn't buy. Now rates have gone up. Partly due to market and partly due to magarpatta increased their maintanace charge by 2L. Investors are asking 35L in hand, which is fair from their side seeing how rates have gone up everywhere in pune. But to get this 35L in hand, buyer has to shell out 41-42L. 2L for stampduty/reg, 2.25L to magarpatta and 60k-80k to broker. There are no real buyers at this rate. In some isolated cases, people buy fearing further rate hike. but many investors are in dump as 5L worth money go into vein.
Thanks Aditi,
I had seen your lot of good advice in this forum, infact I was expecting some good advice for MP flats. Thanks for helping to unknown
Almost 30% rent increased for 1BHK, for viman nagar flats, still dependency on water tankers. The construction quality is not good in MP, but a good large garden, near by DC which attracting me for MP.
Can any one know what actual price going on for Iris.
Thanks,
Raj
 
Old November 2 2010, 11:23 AM   #10
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No doubt the overall city is good, but man can you spend that much for shaddy construction and a garden which is not yours ?
If you are really impressed, spare 5-7L in good investments, and I bet you can live next 10 years in magarpatta on rent from the income you earn from that money. 1bhks command little higher rent as there are not many of them. But 2bhks are real VFM.
RE rates are hyped up this time, but comparing the price, a 2bhk in Viman nagar/Wanowrie in around 40-45 will be much better bet than a 2bhk in Mpcity at 40. Think on this. I m not saying you buy there now, but pointing that there are much better options available than mpcity.

Quote:
Originally Posted by raj_123 View Post
Thanks Aditi,
I had seen your lot of good advice in this forum, infact I was expecting some good advice for MP flats. Thanks for helping to unknown
Almost 30% rent increased for 1BHK, for viman nagar flats, still dependency on water tankers. The construction quality is not good in MP, but a good large garden, near by DC which attracting me for MP.
Can any one know what actual price going on for Iris.
Thanks,
Raj
 
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