Hi Guys,

Here is the story :

I am looking for a flat to buy.
I work in Magarpatta City. (but don't know how long I will stay here or in pune)
I was looking for ready possession flat in hadapsar, kharadi.
My budget is 25 lacs.

Here are my findings:

    "Etasha" on Handewadi Road, Hadapsar : Charging 2575/sqft negotiable for 730 sqft 2BHK. Possession in 1 year, Good amenities

    "SeaGull" on Handewadi Road, Hadapsar : Charging 2800/sqft 1000 sqft

    "Sanskruti" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft Ready Possession

    "" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft

    "Sainath" Behind Noble Hospital, Hadapsar : Charging 3200/sqft for 800 sqft 2BHK

    "Magarpatta" : Resale Flat, Charging at 3700/sqft, 1BHK will go up to 31 lacs including all, 2BHK more than 40-45 lacs.

    "Greenfield" on magarpatta-kharadi road : Booking closed for 1 BHK, They will start booking after 2 months for Phase II. Posession in 1 year. Not sure about rate but should be near about 2800 sqft.

    "Forest County" Khadadi : 2BHK gone, 3BHK 1800 sqft 3800/sqft will cost around 86 lacs including all, possession after 2 years.


On magarpatta-khadadir road 2 big malls are coming up. may be in 2 years they will be operational.

So Greefield could be good investment but as if now only Etasha is coming in my budget and they are saying they've very few flats left.
But for Etasha I'm bit afraid and confused with locality and surroundings.

I heard that vegetable market has been allocated a new space near manjri and flyover on railway crossing at handewadi road is approved.

I am working in IT industry, could be relocated anytime in future. But will it go for good rent or will it return good money ?

Should I go for Etasha ? Should I wait for other projects ? should I continue
to pay rent ? Should I wait for prices to go down ?

Sometimes I think that I belong to lower middle class who cannot afford a single house at good location.
I dont how people are getting that much money to pay.

Totally confused and frustrated !
Seeking your help and valuable suggestions !
Please Help !
Read more
Reply
29 Replies
Sort by :Filter by :
  • Friend, please consider renting as a great option to buying, specially when you are unsure of staying in Pune. Pune rent yields are so low, it makes no sense to buy for investment. If you are going to settle in Pune, then OK, else don't go for purchasing flat, you will get very good flats on nice low rent (as compared to EMIs).
    CommentQuote
  • I think 80% of IT people feel they belong to lower middle class who can not afford flat at good location and on the top of that; they are seen as high income group and every other person seek to loot that IT guy bab (45):
    CommentQuote
  • My suggestion would be to rent, increase savings and invest some part of savings when it is multiplied buy at large downpayment.
    CommentQuote
  • If you are not sure of stayinh in Pune for long, go for renting.

    If at all, you want to buy a flat. Look at manjari area on Solapur highway. You may find a flat within your budget of 25 Lacs.

    The approach road to Handewadi is not going to be free from traffic. Subji mandi is only temporaril shifting to a new place for rennovation. After rennovation, it will be functional as usual.
    CommentQuote
  • Originally Posted by vikanna
    ---"Greenfield" on magarpatta-kharadi road : Booking closed for 1 BHK, They will start booking after 2 months for Phase II. Posession in 1 year. Not sure about rate but should be near about 2800 sqft......!


    Hi Where is this Located, couldnt find much details on the net. who are the builders?
    CommentQuote
  • Greenfield is from Bhandari Association.
    Located Magarpatta-Khadadi Road

    http://www.bhandariassociates.co.in/
    CommentQuote
  • There is one magnus realty project named "Simplicity" on handewadi road...You can get around Rs2300 per sft rate there....

    Guys,

    Any suggestion on this project ?? Can one invest in this project ?

    Thanks
    Nitin
    CommentQuote
  • Originally Posted by nitinsharma
    There is one magnus realty project named "Simplicity" on handewadi road...You can get around Rs2300 per sft rate there....

    Guys,

    Any suggestion on this project ?? Can one invest in this project ?

    Thanks
    Nitin



    Magnus Realty is the Marketing partner for this project. Project is owned by B K Zhala.

    Handewadi road is so crowded area. Moreover, I do not see any big development happening there in near future to really change the scene.
    I wouldn't prefer to leave in this area.

    And for investment.. I would prefer something else than real estate itself.
    CommentQuote
  • go for seagull..u mite have seen phase 1..it looks pretty good..and when it comes thru completely ..it wud look good..am sure u will get smaller size flats there as well.and rates shud be less than 2700 not 2800

    i booked one for my bro in law who had similar budget..pm me if u want more help..

    Originally Posted by vikanna
    Hi Guys,

    Here is the story :

    I am looking for a flat to buy.
    I work in Magarpatta City. (but don't know how long I will stay here or in pune)
    I was looking for ready possession flat in hadapsar, kharadi.
    My budget is 25 lacs.

    Here are my findings:


      "Etasha" on Handewadi Road, Hadapsar : Charging 2575/sqft negotiable for 730 sqft 2BHK. Possession in 1 year, Good amenities


        "SeaGull" on Handewadi Road, Hadapsar : Charging 2800/sqft 1000 sqft


          "Sanskruti" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft Ready Possession


            "" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft


              "Sainath" Behind Noble Hospital, Hadapsar : Charging 3200/sqft for 800 sqft 2BHK


                "Magarpatta" : Resale Flat, Charging at 3700/sqft, 1BHK will go up to 31 lacs including all, 2BHK more than 40-45 lacs.


                  "Greenfield" on magarpatta-kharadi road : Booking closed for 1 BHK, They will start booking after 2 months for Phase II. Posession in 1 year. Not sure about rate but should be near about 2800 sqft.


                    "Forest County" Khadadi : 2BHK gone, 3BHK 1800 sqft 3800/sqft will cost around 86 lacs including all, possession after 2 years.

                    On magarpatta-khadadir road 2 big malls are coming up. may be in 2 years they will be operational.

                    So Greefield could be good investment but as if now only Etasha is coming in my budget and they are saying they've very few flats left.
                    But for Etasha I'm bit afraid and confused with locality and surroundings.

                    I heard that vegetable market has been allocated a new space near manjri and flyover on railway crossing at handewadi road is approved.

                    I am working in IT industry, could be relocated anytime in future. But will it go for good rent or will it return good money ?

                    Should I go for Etasha ? Should I wait for other projects ? should I continue
                    to pay rent ? Should I wait for prices to go down ?

                    Sometimes I think that I belong to lower middle class who cannot afford a single house at good location.
                    I dont how people are getting that much money to pay.

                    Totally confused and frustrated !
                    Seeking your help and valuable suggestions !
                    Please Help !
    CommentQuote
  • Originally Posted by vikanna
    Hi Guys,

    Here is the story :

    I am looking for a flat to buy.
    I work in Magarpatta City. (but don't know how long I will stay here or in pune)
    I was looking for ready possession flat in hadapsar, kharadi.
    My budget is 25 lacs.

    Here are my findings:


      "Etasha" on Handewadi Road, Hadapsar : Charging 2575/sqft negotiable for 730 sqft 2BHK. Possession in 1 year, Good amenities



        "SeaGull" on Handewadi Road, Hadapsar : Charging 2800/sqft 1000 sqft



          "Sanskruti" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft Ready Possession



            "" on Handewadi Road, Hadapsar : Charging 2750/sqft not negotiable 1000 sqft



              "Sainath" Behind Noble Hospital, Hadapsar : Charging 3200/sqft for 800 sqft 2BHK



                "Magarpatta" : Resale Flat, Charging at 3700/sqft, 1BHK will go up to 31 lacs including all, 2BHK more than 40-45 lacs.



                  "Greenfield" on magarpatta-kharadi road : Booking closed for 1 BHK, They will start booking after 2 months for Phase II. Posession in 1 year. Not sure about rate but should be near about 2800 sqft.



                    "Forest County" Khadadi : 2BHK gone, 3BHK 1800 sqft 3800/sqft will cost around 86 lacs including all, possession after 2 years.


                    On magarpatta-khadadir road 2 big malls are coming up. may be in 2 years they will be operational.

                    So Greefield could be good investment but as if now only Etasha is coming in my budget and they are saying they've very few flats left.
                    But for Etasha I'm bit afraid and confused with locality and surroundings.

                    I heard that vegetable market has been allocated a new space near manjri and flyover on railway crossing at handewadi road is approved.

                    I am working in IT industry, could be relocated anytime in future. But will it go for good rent or will it return good money ?

                    Should I go for Etasha ? Should I wait for other projects ? should I continue
                    to pay rent ? Should I wait for prices to go down ?

                    Sometimes I think that I belong to lower middle class who cannot afford a single house at good location.
                    I dont how people are getting that much money to pay.

                    Totally confused and frustrated !
                    Seeking your help and valuable suggestions !
                    Please Help !

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..

                    I am in the same state .......
                    Salary doesn't allow me to pay more then 17k per month as EMI
                    and in this much EMI cannot buy even a 2 BHK.....

                    and those available for sale are too small ..... only 2 person family can stay ...

                    While my perantal house is 3000 sf with 1/2 acer land ....
                    once my parent comes to stay they won't remain for weeks ...
                    what to talk of permanent stay..
    CommentQuote
  • What confusion

    Man, you said it all, & there is no reason for you to be frustrated or confused:-

    1. You are unsure of your stay in Pune, so better rent & buy only when you decide a particular city as your permanent residence. If you get shifted to say Bangalore, you can buy a much better flat for 25L here than in Pune.

    2. The returns of investment in RE for now is almost nill....even FD will give better returns than RE, not to forget the maintenance, taxes & the jhig-jhig of the tenants + the liquidity in hand.

    It is better that you stay on rent, keep saving & when you are confirmed about the permanent place, go ahead & buy with max down-payment which you saved from now onwards.

    Rent, save & enjoy for now:).
    CommentQuote
  • Originally Posted by realacres
    Man, you said it all, & there is no reason for you to be frustrated or confused:-

    1. You are unsure of your stay in Pune, so better rent & buy only when you decide a particular city as your permanent residence. If you get shifted to say Bangalore, you can buy a much better flat for 25L here than in Pune.

    2. The returns of investment in RE for now is almost nill....even FD will give better returns than RE, not to forget the maintenance, taxes & the jhig-jhig of the tenants + the liquidity in hand.

    It is better that you stay on rent, keep saving & when you are confirmed about the permanent place, go ahead & buy with max down-payment which you saved from now onwards.

    Rent, save & enjoy for now:).


    Buddy,

    Wht you say is absolutely correct, One of the biggest thing about rent I have felt is when I use to work in Hinjewadi ,I used to stay in 3 BHK in Baner, and now I works in MP city so have rented in MP city itlself. This save a hell lot of time as compared to other people who comes from Wakad and PS/PN/Pxx whatever.

    The only glitch is if you ever plan to buy, either you have money from onsite to buy in same location or go farther from city.
    My cousins booked a flat in Baner in 31 L in March 2010 , I insisted on the same prinicipal of living on rent. The problem is now, builder doesn't negotiate below 38 L ...Now I don't have any choice.

    The fact is people still buy and when you want to buy a new/resale thing it is always 5-10 L above your budget and you have to go further or wait.

    Both their advantage-disadvantage. their advantage-disadvantage. their advantage-disadvantage.
    CommentQuote
  • Originally Posted by nitinsharma
    There is one magnus realty project named "Simplicity" on handewadi road...You can get around Rs2300 per sft rate there....

    Guys,

    Any suggestion on this project ?? Can one invest in this project ?

    Thanks
    Nitin

    Check for availibility of water in handewadi area from anyone who stays nearby. One of my friend has expressed concerns about the same.

    Also regarding Simply City...it does not fall under PMC.
    CommentQuote
  • Do not hesitate to rent. There is nothing wrong in renting.

    For minimizing hassles while renting a flat, consider these things -

    1) Do not rent those flats whose owners are outside India. Problem is, if there plans change and they have to return back, they will give you a notice anytime and you will need to move.

    2) Ensure that your landlord has a different home and is not interested in living in the home you are renting. There are people who buy flats only for renting in the hope that the rent will be an income during their retirement years. This is the ideal renting house coz' the landlord is not interested in selling it unless he gets a crazy price for it. This also ensures a lot of peace of mind for the tenant.

    3) Don't rent investor flats. These are always up for sale, and if get sold, the new landlord might want to shift in. It's too much hassle for tenants to move out. Don't do this even if the rent quoted is really low. Never trade peace of mind with few hundreds of rupees. Everybody on this planet only lives for peace of mind.

    Spend some time in finding the right house for renting. If you analyze the right things, you could find peace of mind even while renting.
    CommentQuote
  • Originally Posted by harshalx
    Do not hesitate to rent. There is nothing wrong in renting.

    For minimizing hassles while renting a flat, consider these things -

    1) Do not rent those flats whose owners are outside India. Problem is, if there plans change and they have to return back, they will give you a notice anytime and you will need to move.

    2) Ensure that your landlord has a different home and is not interested in living in the home you are renting. There are people who buy flats only for renting in the hope that the rent will be an income during their retirement years. This is the ideal renting house coz' the landlord is not interested in selling it unless he gets a crazy price for it. This also ensures a lot of peace of mind for the tenant.

    3) Don't rent investor flats. These are always up for sale, and if get sold, the new landlord might want to shift in. It's too much hassle for tenants to move out. Don't do this even if the rent quoted is really low. Never trade peace of mind with few hundreds of rupees. Everybody on this planet only lives for peace of mind.

    Spend some time in finding the right house for renting. If you analyze the right things, you could find peace of mind even while renting.


    Do u think owner will allow u to stay mor ethan 3-4 years in any flat.....I met many owners who r afraid of some tenant friendly laws and don't allow single owner to stay for more than 3-4 years.
    And if this is the case then it doesnot matter wether it is a investor flat or NRI
    CommentQuote