Hi Seniors,
I am a new to this forum.
I am looking for a 2BHK flat in WAKAD in pune for self use.
I am looking for ready possession (6months wait is also ok. )
My budget is 40Lacs.
Please excuse me if I am not following forum rules.
Please comment.

Regards,
Rahul
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  • Rahul

    Cut the '6 months wait' out completely and swear by the 'ready possession' part.
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  • Originally Posted by lahura
    Hi Seniors,
    I am a new to this forum.
    I am looking for a 2BHK flat in WAKAD in pune for self use.
    I am looking for ready possession (6months wait is also ok. )
    My budget is 40Lacs.
    Please excuse me if I am not following forum rules.
    Please comment.

    Regards,
    Rahul

    Check Pune Mirror Page 37 : Resale near Aundh medipont - 920 sqft for 37 lac : many more options in that range...y go to Wakad with this kind of budget? In case, u can check out Nandan Inspera and Park Street...
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  • Originally Posted by chinmay686
    Check Pune Mirror Page 37 : Resale near Aundh medipont - 920 sqft for 37 lac : many more options in that range...y go to Wakad with this kind of budget? In case, u can check out Nandan Inspera and Park Street...


    Is Nandan Inspera ready possession?

    Don't go to Park Street, overpriced for Wakad
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  • Originally Posted by puser
    Is Nandan Inspera ready possession?

    Don't go to Park Street, overpriced for Wakad


    I don't prefer ready possession primarily cos of the following reasons!!

    1) if it is a builder flat, it inevitably will be the left out ones - also, you are bound to pay a hefty premium for that
    2) If it belongs to an investor, same premium will surely follow..
    3) Not sure, how safe the transaction will be if the transaction will be between individuals...and also much more hassle while going for loan - as in, there will be huge difference in the quoted price and bank valuation for the same property, dependent on the age!!
    4) Greater chances of going thru a broker, and i feel they are worse then the builders :(

    Rather, as mentioned above, target the project where possession is 6-9 months (not on the paper, but gauge it suitably as per the level of construction!!) - this way, you can also go for hassle free modifications , if required so!!

    I will prefer resale when i go for my second flat!!

    The above are just my personal opinion...
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  • Originally Posted by chinmay686
    I don't prefer ready possession primarily cos of the following reasons!!

    1) if it is a builder flat, it inevitably will be the left out ones - also, you are bound to pay a hefty premium for that
    2) If it belongs to an investor, same premium will surely follow..
    3) Not sure, how safe the transaction will be if the transaction will be between individuals...and also much more hassle while going for loan - as in, there will be huge difference in the quoted price and bank valuation for the same property, dependent on the age!!
    4) Greater chances of going thru a broker, and i feel they are worse then the builders :(

    Rather, as mentioned above, target the project where possession is 6-9 months (not on the paper, but gauge it suitably as per the level of construction!!) - this way, you can also go for hassle free modifications , if required so!!

    I will prefer resale when i go for my second flat!!

    The above are just my personal opinion...



    Chinmay686 genuine questions to you:

    1) You are assuming that builder will continue with the pace of construction for the next 6-9 months which is a big NO NO.

    Infact, builder start dealying in this region only. Because completing slab he gets 85% and completing brick work he gets 98%, they are hardly interested in completing the rest of the flat for meager 2-15% amount left. So this is where the delay starts.

    2) Ready possessions are not the left out ones, Infact in most cases they are the most desired flats which builder does not sell earlier and keep to sell them later at good premium.

    A builder always tries to sell the least desired flat first. Always say all top floors booked. LOL:D
    I remember I was offered all 2/3 floor flats in under construction building as the only ones available and when I told them I would buy today, if I get top floors, then magically came out a ready possession flat on top floor.

    I am surprised that you think and experienced otherwise.

    3) I don't know why you feel transaction between individuals is not safe. You can always go through a lawyer.

    Also could not understand if for first flat purchase you prefer under const. then why resale for second flat:bab (39):
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  • Originally Posted by RAJESHP
    Chinmay686 genuine questions to you:

    1) You are assuming that builder will continue with the pace of construction for the next 6-9 months which is a big NO NO.

    Infact, builder start dealying in this region only. Because completing slab he gets 85% and completing brick work he gets 98%, they are hardly interested in completing the rest of the flat for meager 2-15% amount left. So this is where the delay starts.

    You surely have a valid point - but most of the times the reasons of delay goes beyond any simple reason, that we normally comprehend!!

    2) Ready possessions are not the left out ones, Infact in most cases they are the most desired flats which builder does not sell earlier and keep to sell them later at good premium.

    A builder always tries to sell the least desired flat first. Always say all top floors booked. LOL:D
    I remember I was offered all 2/3 floor flats in under construction building as the only ones available and when I told them I would buy today, if I get top floors, then magically came out a ready possession flat on top floor.

    I am surprised that you think and experienced otherwise.

    Even i am surprised with my experience so far!! for example Concord Portia, Sapphire Park are the ones where is experience the above!! of course, there were other BLATANT reasons to refuse them :)

    Also checked out Supreme Palms in June-July 2009 (If i remember it right!!) - That was something i am still repenting!!

    3) I don't know why you feel transaction between individuals is not safe. You can always go through a lawyer.

    I don't trust broker...and which ever owners i have met din't give me the confidence of a safe transaction!!
    Also could not understand if for first flat purchase you prefer under const. then why resale for second flat:bab (39):
    I have mentioned some reasons y want under constro (closer to possession though!!) as my first flat..The second (if at all i manage sometime :P) won't matter cos that is gonna be just from an investment/rental return perspective..so floor-orientation-vaastu-south facing and all stuff are not gonna matter, so greater chances of me going for a resale flat, even if the options are less!!


    my response in blue
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  • Originally Posted by chinmay686
    I have mentioned some reasons y want under constro (closer to possession though!!) as my first flat..The second (if at all i manage sometime :P) won't matter cos that is gonna be just from an investment/rental return perspective..so floor-orientation-vaastu-south facing and all stuff are not gonna matter, so greater chances of me going for a resale flat, even if the options are less!!

    Man, the appreciation is generally more when one purchases in under-cons & sells when ready poss. If you buy ready poss or from ANOTHER INVESTOR, what will you make then? Tambura?:D

    It should be other way round:-

    Buy resale/ready poss for first house as you are assured that what you see is what you get + you need not pay rent for long time in case of delays. From investment view, it is advisable to BOOK so that you get lower rates + even if it is delayed by 5 yrs, you need not worry the way one should have if it was his/her primary residence:bab (6):.
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  • Originally Posted by chinmay686
    I don't prefer ready possession primarily cos of the following reasons!!

    1) if it is a builder flat, it inevitably will be the left out ones - also, you are bound to pay a hefty premium for that
    2) If it belongs to an investor, same premium will surely follow..
    3) Not sure, how safe the transaction will be if the transaction will be between individuals...and also much more hassle while going for loan - as in, there will be huge difference in the quoted price and bank valuation for the same property, dependent on the age!!
    4) Greater chances of going thru a broker, and i feel they are worse then the builders :(

    Rather, as mentioned above, target the project where possession is 6-9 months (not on the paper, but gauge it suitably as per the level of construction!!) - this way, you can also go for hassle free modifications , if required so!!

    I will prefer resale when i go for my second flat!!

    The above are just my personal opinion...



    Ready possession rates are almost same and sometimes lesser than under-construction. And lahura21 is asking ready possession
    CommentQuote
  • Originally Posted by realacres
    Man, the appreciation is generally more when one purchases in under-cons & sells when ready poss. If you buy ready poss or from ANOTHER INVESTOR, what will you make then? Tambura?:D

    It should be other way round:-

    :bab (6):.

    Real : I am not dumb enuf to make a tambura :) think u missed the rental return part!! For me, the money u make in 0-5 years in RE is tambura wrt the hassle of a RE transaction as such!! I don't believe in making short term investment in RE and flipping it..for that i have portfolio of stocks, and no emotional attachments to them :)


    Ready possession rates are almost same and sometimes lesser than under-construction.
    Is it a generalised statement or an exception?? Not to dispute it, but haven't encountered any!!

    And lahura21 is asking ready possession


    I know..suggested something i came across...
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  • Originally Posted by chinmay686
    Real : I am not dumb enuf to make a tambura :) think u missed the rental return part!! For me, the money u make in 0-5 years in RE is tambura wrt the hassle of a RE transaction as such!! I don't believe in making short term investment in RE and flipping it..for that i have portfolio of stocks, and no emotional attachments to them :)

    Is it a generalised statement or an exception?? Not to dispute it, but haven't encountered any!!



    I know..suggested something i came across...


    Dear Chinmay,

    I have found resale(new) rates are equal or lesser than under construction ones

    I am speaking about NIBM, Wanaworie, Kondhwa area as well as Wakad and Pimple Saudagar as many I have seen.

    In fact sometimes they are cheaper than builder's quotes; sometimes/

    Under construction, in my opinion, is good for Investment, for self use, ready possession or resale is good;
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  • Originally Posted by puser

    I have found resale(new) rates are equal or lesser than under construction ones

    In fact sometimes they are cheaper than builder's quotes; sometimes/



    Dear Puser,

    I agree with you - there is a sometimes attached to it..some of the examples that i can recall :

    1) some GK project in PS, i think Rajveer Palace : People had booked at 2500 psf as well earlier, but later closer to the possession they were quoting 2900 psf
    2) Prakriti Balewadi : was asking 2600 psf during peak recession..ready possessions sold at 2900 psf!!
    3)Sapphire Park : an atrocious amount quoted for ready possession ones!! even the shameless Sales folk will tell you that they had given flats at reduced price earlier..
    4) Oravi : Same story, sold at < 2599 psf - i am sure they are quoting close to 2900 psf something for the last few flats...
    5) Comfot Zone : I have seen the prices zoom the nearer they got to possession!!

    I know there might be counter facts to the observation, but these are purely my personal experience on the site in the past!!

    Of course, there will be exceptions when the seller/builder is desperate for a sale due to certain constraints..but normal sales logic doesn't justify the same!!


    Under construction, in my opinion, is good for Investment, for self use, ready possession or resale is good;
    If i have the option of selecting a nice flat and also price is something reasonable, then why not? But most of the times, builders are not too desperate to sell the last few primarily cos they can take thier own sweet time to sell this at a premium, and if not, they actually prefer to rent it out than disposing them!!
    CommentQuote
  • Hi Chinmay.

    1) some GK project in PS, i think Rajveer Palace : People had booked at 2500 psf as well earlier, but later closer to the possession they were quoting 2900 psf
    2) Prakriti Balewadi : was asking 2600 psf during peak recession..ready possessions sold at 2900 psf!!
    3)Sapphire Park : an atrocious amount quoted for ready possession ones!! even the shameless Sales folk will tell you that they had given flats at reduced price earlier..
    4) Oravi : Same story, sold at < 2599 psf - i am sure they are quoting close to 2900 psf something for the last few flats...
    5) Comfot Zone : I have seen the prices zoom the nearer they got to possession!!

    I know there might be counter facts to the observation, but these are purely my personal experience on the site in the past!!

    Of course, there will be exceptions when the seller/builder is desperate for a sale due to certain constraints..but normal sales logic doesn't justify the same!!


    People who booked at the rate of "abcd" psqft under constr. had option of ready possession or resale at the same rate, at the same time. I am not saying that rate will remain same 3 years down the line, and you will buy at the same rate ready possession which was its launch or pre-launch rate. I am speaking of that time only e.g. prelaunch offer of "420 Park" is as good as resale or ready possession rate (investor, builders quote high prices, because I think they do not wish to sell remaining flats but to keep them for their own purpose or to create illusion of appreciation) just next to this project; check resale or investor flats in projects they are at rates lower than quoted by builder, largest difference I found was of 10 lakhs :bab (59):

    If i have the option of selecting a nice flat and also price is something reasonable, then why not? But most of the times, builders are not too desperate to sell the last few primarily cos they can take thier own sweet time to sell this at a premium, and if not, they actually prefer to rent it out than disposing them!!


    You do not know if that flat will be as nice as you imagine, or when you'll get it in case of under construction. So it is good for your second home / investment
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  • Underconstruction building after allslabs took almost year to get complete. You have to pay 90% by last slab and so pay interest of around 2.5 to 3 lakhs in this one year. This is equal to 250 to 300 rs psf.

    only advantage with underconstruction is that you have good choice. with ready possesion you left with left out flats. With resale only issue is seller is uncertain abt what price he want to sell. keep on changing his mind. and do not bouther to sell it to someone else before you make your mind. Also need broker to find out resale flats.
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