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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Pune > Pune: Advice needed for buying twin bugalow in Baner
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Old October 26 2009, 04:46 PM   #1
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Default Pune: Advice needed for buying twin bugalow in Baner

I have seen a 3bhk (2250sq.ft.) twin bungalow in Baner area of Pune.
It's resell and in Cinderella complex opp. Pashankar showroom.
I may move in after 3-4 years. The price offered to me is 75lac. all inclusive.
The approach road currently is not a tar road. Also the market is at 2kms.
The society has 23 bungalows. The security is provided
If any of you can advice me on whether it is a good buy from following perspectives:
1. The current cost
2. Future prospects for the area (I mean if I need to sell it in 4-5 years, how much should I expect.
3. Security- how reliable can it be.

thanks,

 
Old November 4 2009, 02:36 PM   #2
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No reply on this... I need your advice. Please reply
 
Old November 4 2009, 03:30 PM   #3
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check out VAscon Willows at Balewadi or supreme pallacio, maybe better option for the amount u r ready to put. (although both are not a Bunglow)

Although i find it bit on the higher side. Dont heard of Cinderella complex before on the forum so cant comment.

Again my personal opinion is if u are not going to stay for 3-4 years , it doesnt makes sense to put so much of money.

Either keeping the house empty or letting it on rent may not be good option.
 
Old November 4 2009, 04:21 PM   #4
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Hi, Thanks for your advice.

I am just thinking of buying it now because I guess I will not be getting twin bungalow below 1 Cr after 3-4 years. There is a project by Kunal Group (Venezia) and other builders near the bungalow scheme so I guess that area would be full in 3-4 years.
 
Old November 4 2009, 04:54 PM   #5
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Seems sweetnitin has too much money!! Dont shell out it on such small bunglow!!
 
Old November 4 2009, 05:36 PM   #6
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Considering people spending 55Lakhs on 3BHK flat, this is a good deal. Talk to others in that society, check the construction quality, check the load factor on total saleable, other things like water supply , electricity, roads etc.
 
Old November 4 2009, 05:41 PM   #7
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Quote:
Originally Posted by shirishtiwari01 View Post
Considering people spending 55Lakhs on 3BHK flat, this is a good deal. Talk to others in that society, check the construction quality, check the load factor on total saleable, other things like water supply , electricity, roads etc.
negotiate hard with at least 5% less price - reduce it by 3.5 lacs
 
Old November 4 2009, 06:07 PM   #8
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its a re-sale so dont know how old is the bunglow is? consider its 3-4 years old and if one wish to put money from investment perspective.

after 4 years the property would be around 7-8 years old, dont know how much premium that will fetch at that time.

Any real estate investments are never liquid. better invest in asset which are liquid enough. There are talks of GOLD touching new high (Although there are also risk - crude has seen the top of 140 and low less than 40).

U never know when the bigger players come up with new theory and move the asset pricess.

Fundamental dont matter much these days, its the money movement, Crude and equity markets has seen drastic up and down move. Dont know whats next and when. so gold could also make a new high before correcting
 
Old November 5 2009, 01:39 PM   #9
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Thanks Mr. Porwal for your views.
Let me explain you more about the property which will help you build your opinion and finally help me take the decision.
The location in wikimapia is: ]http://www.wikimapia.org/#lat=18.5510474&lon=73.774792&z=18&l=0&m=b&v=8[/URL]

The road is not tar road and still the prices are so high. The construction quality is not great though the architecture of buildings in the projects are simply cool. Each bungalow is a 3000 sq.ft. plot so our bungalow will be built on 1500 sq.ft. area.
The saleable area is around 2300sq.ft. The built up area is around 1600sq.ft.

Its around 3 year old project and the next to this project a rowhouse project is going on the cost of a rowhouse there is around 1.4 crore.

The prices will increase in future in my opinion because:
1. its baner and after a while it will be full.
2. Baner is becoming a posh locality and will be next Koregaon park
3. There are very few Bungalow projects going on in Pune. So demand will somehow stay or increase. Builders are happy building and selling flats because it has more ROI.
4. The road goes straight to Pancard club and it will help us fetch more value.
5. We are not thinking only from investment perspective. We are thinking of living there once it gets road, market etc.
6. if you calculate the rate per sq.ft it comes to 3000 rs. which is the current rate in that area.
7. We we don't buy it now we would probably not be able to buy bungalow in Pune any time in near future
8. Also the rate of interest for next 3 years are going to be stable(fixed) for the loan we are going to avail.

if it would only be an investment, we would have thought about gold or other options. We see less risk in buying a property.
We would have gone for some land outside Pune but its not easy to take a decision. Also loan facility is not available for land.
 
Old January 22 2010, 07:31 AM   #10
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Did you finalize it?
do they have any row house available?
 
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