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Nandan Prospera?? Should I go for it?

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Nandan Prospera?? Should I go for it?

Last updated: August 25 2013
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  • #61

    #61

    Re : Nandan Prospera?? Should I go for it?

    Originally posted by realacres View Post
    +1 to this. I recently came to know from one of my neighbor that his relative built a bungalow at Baramati (hey, he is not of NCP ) for INR 830/sq ft. Here are the some specs:-

    Complete marble flooring, marble purchased directly from Rajasthan,
    Internal luster paint, external acrylic paint,
    Hindware sanitary fittings,
    Pure teakwood doors with brass fittings.

    Now how much the builder here sells this for?? Think how much premium we pay for not so premium things.
    Hmm Construction cost of ~800 /sq feet makes sense too, since many projects in 2004 were launced with sale price of 800/sq price and these projects included all the modern amenities, apart from good bathroom fittings/Vitrified 2x2 tiles these projects had granite in the stair case, 2 automatic Schindler lifts and all for 7 story building.

    So 800/sq const. cost today makes sense than accepting 1200/sq as construction cost.

    Abeerbagul and Birendra you need to add your numbers properly.

    These builders are sucking money, because there are people willing to pay this amount.

    Comment

    • #62

      #62

      Re : Nandan Prospera?? Should I go for it?

      Originally posted by RAJESHP View Post

      So 800/sq const. cost today makes sense than accepting 1200/sq as construction cost.
      Even though I am not expert in this area I think Rajesh might be right abt construction cost. Lodha casa bela project launched in dombivli at 1999/- psf 2 yrs back. It is premium project with towers of 18 floors and almost all amenities(at least promised). Location is pathetic but if he can sell at 1999/- psf then construction cost must not be that high.

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      • #63

        #63

        Re : Nandan Prospera?? Should I go for it?

        Originally posted by ash7979 View Post
        I like your confidence man...keep it up

        As we are getting good monsoon this years, so just see the fun during this festive season & later on...Now next year you have go further 2 kms out from Pune to buy flat in your budget...Dont believe me, Mark my words & speak with me on 9th aug,2011
        I agree completely.
        I have said it earlier, Pune is going to grow till a point where Paud Gaon will be next Chandani Chauk and Wagholi will be the most populated area there is and so will be Chakan.Unfortunately, Govt and PMC are not prepared for it.

        And for Common Man like you and me. This is just a game of weathly men and women, and we are just getting played.

        My advice, Wait is over. Buy now whatever you can, however you can. Buy the property which does not let you stretch beyond your limits, if that means buying it in Balewadi, Ravet, Undri, Wagholi, Ambegaon, Chakan or any other place that you feel comfortable living for more than few years, go for it. Buy small place, if not 3BHK, then go for 2.5BHK. Don't day dream, be practical and end your confusions / stress and live and enjoy life that you will have going forward.

        And, the boom in IT hasn't helped common man like you and me. Builders know it. The problem with this boom is that number of people are 'getting added' who can afford 2BHK in wakad, instead of existing people getting enough hikes 'to afford' Baner. Again IT is all about 'headcount' and NOT 'talent count' or 'experience count'

        Again, its a game of weathly people, you might lose even you follow my advice, but the losses will be much lesser than you would face when you go for by streching yourself.

        Cheers,
        Space.
        Last edited by Space; August 13 2010, 12:09 PM.

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        • #64

          #64

          Re : Nandan Prospera?? Should I go for it?

          Well, why is everybody under pressure to buy, to live - you can rent and even accomodate into a decent hotel at such astronomical rates - anyways I am in search on the PIN that will end this price bubble ---

          The rent to sale ratio is going up day by day, and rentals going down, meaning we have a glut in the market ! Take a sakal classified or magic bricks -- and you will realize the number of apartments in city available for SALE/BUY.

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          • #65

            #65

            Re : Nandan Prospera?? Should I go for it?

            Originally posted by sachinchakote View Post
            nandan Prospera is one of the project who got 5 star rating .
            http://www.crisil.com/star-ratings/r...une_index.html
            Sorry to say this, but could not hold it within
            Rohan Leher got a 7 star rating from Crisil
            Check the same link...

            Comment

            • #66

              #66

              Re : Nandan Prospera?? Should I go for it?

              Rajesh, The numbers that we have quoted for Pune in current circumstances are correct, unless you change th model of working. If you recall I had mentioned about multiple level of subcontracting. Builder pays 1200 rs to subcontractor who does with material........if it is just a labor contractor and builder provides material then the rate is less etc......so everyone in the chanin maks more money which inflates the price.It is a different thing that from that 2200-2500 builders make the rates 5000 and all that which aloows them to earn huge profit margins.

              But there is no stopping to this. Last week I went to Lavasa, I have a friend who works in sales. He showd me the booking list and I was shocked with the way people are booking there....I do not know from where people are able to spend so much. But that is reality.

              Cheers,
              Birendra.
              Originally posted by RAJESHP View Post
              Hmm Construction cost of ~800 /sq feet makes sense too, since many projects in 2004 were launced with sale price of 800/sq price and these projects included all the modern amenities, apart from good bathroom fittings/Vitrified 2x2 tiles these projects had granite in the stair case, 2 automatic Schindler lifts and all for 7 story building.

              So 800/sq const. cost today makes sense than accepting 1200/sq as construction cost.

              Abeerbagul and Birendra you need to add your numbers properly.

              These builders are sucking money, because there are people willing to pay this amount.

              Comment

              • #67

                #67

                Re : Nandan Prospera?? Should I go for it?

                Originally posted by birendra View Post
                Rajesh, The numbers that we have quoted for Pune in current circumstances are correct, unless you change th model of working. If you recall I had mentioned about multiple level of subcontracting. Builder pays 1200 rs to subcontractor who does with material........if it is just a labor contractor and builder provides material then the rate is less etc......so everyone in the chanin maks more money which inflates the price.It is a different thing that from that 2200-2500 builders make the rates 5000 and all that which aloows them to earn huge profit margins.

                But there is no stopping to this. Last week I went to Lavasa, I have a friend who works in sales. He showd me the booking list and I was shocked with the way people are booking there....I do not know from where people are able to spend so much. But that is reality.

                Cheers,
                Birendra.
                You should have checked the owner details, you will be surprised to find that most belong to business (with loads of B-money) & politicos who have registered the property in their kith & kin. They are buying here not to stay but to park their ill-gotten wealth & with Pawar at the top here, putting B-money is no fuss. Simply check out how many people have applied for bank loans & buying here with EMIs .
                If you are happy, you are successful.

                Comment

                • #68

                  #68

                  Re : Nandan Prospera?? Should I go for it?

                  Originally posted by birendra View Post
                  Rajesh, The numbers that we have quoted for Pune in current circumstances are correct, unless you change th model of working. If you recall I had mentioned about multiple level of subcontracting. Builder pays 1200 rs to subcontractor who does with material........if it is just a labor contractor and builder provides material then the rate is less etc......so everyone in the chanin maks more money which inflates the price.It is a different thing that from that 2200-2500 builders make the rates 5000 and all that which aloows them to earn huge profit margins.
                  If the cost is high because of multiple level of subcontracting, then its due for correction. As long as raw material cost has not shot up drastically, this middle men in between will correct for sure in future when demand supply changes.

                  Any ways, why were are concerned calculating this cost is, to arrive at fair price of the flat, and in case of builder, I don't think they go through multiple layers of sub contracting. Also the kind of quality we assume in 800/sq feet cost is not what Pune builders give, its inferior quality they give.

                  More over this cost is on carpet or builtup, NOT on saleable area.
                  How much area of the loading/common amenity space, do builders construct? not all, so effective cost to builder is even less than 800/sq feet

                  Comment

                  • #69

                    #69

                    Re : Nandan Prospera?? Should I go for it?

                    Originally posted by realacres View Post
                    You should have checked the owner details, you will be surprised to find that most belong to business (with loads of B-money) & politicos who have registered the property in their kith & kin. They are buying here not to stay but to park their ill-gotten wealth & with Pawar at the top here, putting B-money is no fuss. Simply check out how many people have applied for bank loans & buying here with EMIs .
                    Hey Real this was not expected at least from you...It seems that you are running out of all your weapons to defend price reduction,so now you are giving reason of Black & white money...Does it matter to builder or say to us whether somebody is buying with Black of white money...untill we have demand in RE market (be it due to Black or white money) I dont see rate coming down...

                    In India more then 50% black money invested in RE & & this is not new phenomenon,this was there from ages & in fact now Sarkari babus & politician making big black money (you have seen in CWG, more than 90% of total money has been eaten by these VULTURES), so where they will keep this money???

                    Now tell me honestly, after knowing all this black money game in RE, do you still think RE rate will come down very soon...As you urself said that most of the flat has not on loan, so I dont see the subprime like crisis in India either, so what will trigger this "So called" Price reduction in RE...Do we ever see a rate of like 2000/sq ft in aundh?? if not then price reduction by 200 rs/sq ft in ravet or wagholi doesn't matter for me
                    Last edited by ash7979; August 14 2010, 11:04 PM.
                    Cheers,
                    -Ashish

                    Comment

                    • #70

                      #70

                      Re : Nandan Prospera?? Should I go for it?

                      Originally posted by ash7979 View Post
                      Hey Real this was not expected at least from you...It seems that you are running out of all your weapons to defend price reduction,so now you are giving reason of Black & white money...Does it matter to builder or say to us whether somebody is buying with Black of white money...untill we have demand in RE market (be it due to Black or white money) I dont see rate coming down...

                      In India more then 50% black money invested in RE & & this is not new phenomenon,this was there from ages & in fact now Sarkari babus & politician making big black money (you have seen in CWG, more than 90% of total money has been eaten by these VULTURES), so where they will keep this money???

                      Now tell me honestly, after knowing all this black money game in RE, do you still think RE rate will come down very soon...As you urself said that most of the flat has not on loan, so I dont see the subprime like crisis in India either, so what will trigger this "So called" Price reduction in RE...Do we ever see a rate of like 2000/sq ft in aundh?? if not then price reduction by 200 rs/sq ft in ravet or wagholi doesn't matter for me
                      Ash,

                      I dont think drastic rate reduction like 2000 in Aundh is possible, as I have said earlier - the rates will be + or - 20% from here on for the next 3-4 years, and will STAY in the same range. For me, with the advice of the old people - who are really wise I have met, the Real Estate prices always move in cycles and catch up with the average incomes people earn in those periods,

                      So, if the average IT/other salary (READ: SALARIED CLASS OR MIDDLE CLASS)was 3 lacs in 2004 - apts were priced 5-7 times of that...
                      today its about 6 lacs - apts are priced 5-7 times of that...

                      And this is true for any city/town in India.

                      I DONT believe the average salary in Pune is going to be 12 lacs in 2014, for that to happen we need a 20% YoY increments on an average FOR ALL 4 YEARS - thats completely out of question...

                      So, I am NOT waiting for any correction, infact I am waiting for the cycle to reverse(read : SENTIMENT), and then let time pass till 2013-2014...since if you purchase today, at 10% inflation + 10% interest rates -- you property needs to appreciate by 20% YOY just ot break even after EACH YEAR-- this hasnt happened since 2007, not it will happen till 2013-2015,...SO WHY INVEST NOW !

                      I will be much better off -- renting untill 2013,2014-2015, and then look for a chance within those years when the SENTIMENT reverses -- its important to HOLD cash in those periods - to MAKE a KILLING !

                      Also, for SENTIMENT -- reversal - Look in history for what has happened to Japan,UK,EU,USA and China recently - India is no different !

                      Look at US chart below- the BOOM and BUST in 100 years - can anyone figure out which year in history - applies to India most - I firmly believe- HISTORY REPEATS ITSELF (THE PROJECTION HAS BECOME TRUE )!
                      Last edited by pcpune; August 15 2010, 12:11 AM.

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