Request to the to-be buyers & consumers - its festival time again for the next 3 months and builders/developers are hoping to clear their inventories at HIGH PRICES - this means the price will remain high for the next year to come - as even if they sell 25% in a project - they recover their costs....

So, my humble advice - to all - PLEASE DONT get sucked in by :

1. New offers such as agreement,car,parking FREE etc
2. New launches and pre-EMI by builers etc
3. Some Festive discount valid for first 20 buyers and for 15 days etc

All of these - AND similar are marketting GIMMICKS - if the BUYERS stay put now - for the next 3 months - they might get the SAME property at 10-20% less than whats available now ...

So, PLEASE DONT GET SUCKED IN --- AND GO AHEAD AND RENT !
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  • Hi realacres, Can you provide project details as well? Very keen to know the projects going on in that area. Also, any ideas about rental prices in PCMC?
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  • IT Industry worker is a wanderer

    Originally Posted by puser
    Managing to switch houses after end of 11 month rental agreement may not be suitable for everyone; different people with varied family background have troubles in changing houses every now and them; pack and move to new house and try feeling home there. Its good if you are not localite; you have house back in some small village besides farm and you're just in Pune to earn

    I don't think rates are gonna double; its just you'll end up buying old house at less price in the city or new house (may be with poor infrastructure) at 20-25km farther from city


    I think that an IT guys 15 - 20 yrs is like travelling from Khed to Nariman point.

    in between he has to change many mode of transport and routes.

    So now if he travels daily will he go and buy a bogey in local train, a Cab, a bus?

    I don't see any IT guy residing in any company for more then 5 yrs ...
    especially who are ambitious.

    So whats the point in buying at any price .... if the flats are that cheap that you can have in each city Banglore, Hyd, Pune East, pune West etc.

    Till that time rent is the best ... 2 yr agreement can be easily done.

    10K - 15K rent and 500 times is the price
    :D
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  • Originally Posted by narendra.22011
    I think that an IT guys 15 - 20 yrs is like travelling from Khed to Nariman point.

    in between he has to change many mode of transport and routes.

    So now if he travels daily will he go and buy a bogey in local train, a Cab, a bus?

    I don't see any IT guy residing in any company for more then 5 yrs ...
    especially who are ambitious.

    So whats the point in buying at any price .... if the flats are that cheap that you can have in each city Banglore, Hyd, Pune East, pune West etc.

    Till that time rent is the best ... 2 yr agreement can be easily done.

    10K - 15K rent and 500 times is the price
    :D


    Totally agree man. It's amazing that some engineers, feel they're worthless if don't own house at any cost.
    Or think of becoming Warren Buffet or Rakesh Jhunjhunwala in few years by buying apartments in Pune.
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  • Originally Posted by ireal1
    Hi realacres, Can you provide project details as well? Very keen to know the projects going on in that area. Also, any ideas about rental prices in PCMC?

    Check out the project by Parsvanath (this is the same Delhi based developer) near Telco & another project (forgot the name, perhaps it is Ellora Enclave) by Ellora Builders of Navi Mumbai. It is in Shahunagar, just go straight from Bandhan Sweets at Sambhajinagar & there you are. The location of Ellora is good, right in junction of 2 lanes, so 2 sides of the project shall always be open. There are some 7-8 buildings & complete with amenities like club house, garden etc. The first floor flats are terrace flats where you can have your own garden as well. The poss date according to builder is Dec 2012, which I think is too far, while that for Parsvanath is nearer one. Infact, the land of this project was owned by Parsvanath & was later sold to Ellora:bab (34):.

    If you have cash, buy plots opp Mercedes Benz plant, near Spine road. Rates are around 875-925/sq ft & the area is developed with roads, water line, sewage lines etc. thanks to Pradhikaran :). One of my friend has purchased here, a 3000 sq ft plot for INR 23L all inc. However, the agreement executed was of INR 7.5L, rest was all cash!!

    As far as rentals are concerned, it all depends where you are looking at, Nigdi, Pradhikaran, Akurdi, or central areas. However, if for letting out flats on rent is concerned, PCMC offers more value to landlord than PMC.
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  • Originally Posted by narendra.22011
    I think that an IT guys 15 - 20 yrs is like travelling from Khed to Nariman point.

    in between he has to change many mode of transport and routes.

    So now if he travels daily will he go and buy a bogey in local train, a Cab, a bus?

    I don't see any IT guy residing in any company for more then 5 yrs ...
    especially who are ambitious.

    So whats the point in buying at any price .... if the flats are that cheap that you can have in each city Banglore, Hyd, Pune East, pune West etc.

    Till that time rent is the best ... 2 yr agreement can be easily done.

    10K - 15K rent and 500 times is the price
    :D

    Completely agree with this man. Infact, in the society where I stay, there are atleast 9 buyers who have left alongwith their family either outside the city or abroad & won't return for another 3-5 years. Some of them are hesitant to rent as they have fully furnished the house (as they never thought they will have to leave the city) & are unsure how the tenant will use it + no one here to keep a tab on their activities & timely payments. Hence, despite owning a ready poss flat, they are renting elsewhere :D.
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  • Agree. I have few colleagues in my team, who have bought in other cities before coming to pune and now are stuck. Have to rent out their own flat to others and staying on rent in Pune. The worst part is, they travel to their original city (not native, bangalore/noida etc) once a year to renew the contract and have a look at their flat.

    Originally Posted by realacres
    Completely agree with this man. Infact, in the society where I stay, there are atleast 9 buyers who have left alongwith their family either outside the city or abroad & won't return for another 3-5 years. Some of them are hesitant to rent as they have fully furnished the house (as they never thought they will have to leave the city) & are unsure how the tenant will use it + no one here to keep a tab on their activities & timely payments. Hence, despite owning a ready poss flat, they are renting elsewhere :D.
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  • Originally Posted by aditi sharma
    Agree. I have few colleagues in my team, who have bought in other cities before coming to pune and now are stuck. Have to rent out their own flat to others and staying on rent in Pune. The worst part is, they travel to their original city (not native, bangalore/noida etc) once a year to renew the contract and have a look at their flat.


    What stops them from selling such a flat? They can sell at market rate and see if they're able to repay loan (at least) and take some profit(at the best)?

    I know some people who bought flats in Bangalore before moving to Pune, sold their bangalore flats and bought new one in Pune
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  • Originally Posted by narendra.22011
    I think that an IT guys 15 - 20 yrs is like travelling from Khed to Nariman point.

    in between he has to change many mode of transport and routes.

    So now if he travels daily will he go and buy a bogey in local train, a Cab, a bus?

    I don't see any IT guy residing in any company for more then 5 yrs ...
    especially who are ambitious.

    So whats the point in buying at any price .... if the flats are that cheap that you can have in each city Banglore, Hyd, Pune East, pune West etc.

    Till that time rent is the best ... 2 yr agreement can be easily done.

    10K - 15K rent and 500 times is the price
    :D



    If someone is born and brought up in a city; where he also finds a job with not-so-bad salary; he wont switch out of city unless he/she is getting 50+% rise; which is not very common.

    It may be true if someone is say e.g. from MP, working in Pune and now can go to Bangalore, Hyderabad, Gurgaon or any other city of his choice.

    This doesn't hold true for people who are raised in Pune/Bangalore(or for that matter any city); whose all family is in Pune/Bangalore, lived in Pune/Bangalore all their life; got first job and continued to work in same or different companies in Pune/Bangalore itself.

    Who want to work away from their homes happily? People come to Pune or for that matter any other city in India because no good job in their own cities.

    By the corollary of your post, one should retire from IT if he/she wants to settle down?
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  • Originally Posted by RAJESHP
    I stayed on rent for so long, never was I asked to vacate after 11 months.
    You just need to find some good home owner, who is interested in long term contract. Which home owner want to change tenants every year? Every one wants long term, unless the owner want to occupy himself, which is very rare.


    Having good owner is a matter of luck; at the time of renting everyone shows-off as if you can stay here forever as long as you wish but real faces comes after; plus I am not sure how these owners treat their tenants - some of them might do kit-kit everytime they come to take rent complaining how badly one is using house
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  • Originally Posted by realacres
    Agreed but why does not having your own house at 25 makes you frustrated?? Having own house is wonderful, but at what cost?? You need to calculate ownership:sacrifice ratio to get clear picture.


    If rates don't double then why will you end up buying 25 km away from city?? Man, you are getting frustrated:(. Btw, if you work at Hinjewadi, why not buy at PCMC?? Good locations are available under 2600/sq ft. Don't understand why people want to remain stuck in PMC only??


    I am not frustrated because I do not have house,reason of frustration can be discussed privately :)

    I do not plan to work at Hinjewadi forever plus do not want to buy at Wakad or Hinjewadi/Saudagar etc' cause the rate is too high in comparison to infrastructure in that area. Only good thing is that you are not in secluded place; you can at least see some humans around.

    Also if you don't buy today at wakad today, isn't it true one may end up buying at Ravet or some new destination that may crop up (like Bhugaon)....? If you're lucky you could happen to have a good cash by then and real estate have crashed; that you can buy at better location (say Aundh) at that time in future.
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  • That puts them in even worse position, as they came to pune, leaving their home behind, only to find a job in bad time. If they buy in pune, after 2 years they will have to sell it again. they still wish to return to bangalore/noida when opportunity knocks.

    Originally Posted by puser
    What stops them from selling such a flat? They can sell at market rate and see if they're able to repay loan (at least) and take some profit(at the best)?

    I know some people who bought flats in Bangalore before moving to Pune, sold their bangalore flats and bought new one in Pune


    Well, the point here is, Renting makes sense for people who need mobility. And in IT, I have seen, more people opt for city change without choice. So buy or rent, if you are in IT, there is more chance that you will change city in next 2-4 years than any other non ITG
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  • Originally Posted by aditi sharma
    That puts them in even worse position, as they came to pune, leaving their home behind, only to find a job in bad time. If they buy in pune, after 2 years they will have to sell it again. they still wish to return to bangalore/noida when opportunity knocks.


    I did not get you how it puts them in worse position? They came to Pune, bought it and sold it (hoping they repay their loan and also get some surplus) - what they lost? Future is unknown, they can always rent in city which is not their hometown or where they dont want to settle; otherwise they can keep renting their flats if its their hometown(and there would be relatives to look after that flat if its their hometown).

    Well, the point here is, Renting makes sense for people who need mobility. And in IT, I have seen, more people opt for city change without choice. So buy or rent, if you are in IT, there is more chance that you will change city in next 2-4 years than any other non ITG


    In my circle(I am local of Pune with all friends who you can term as locals or Punekars or Puneites or Maharashtrians); no one has changed out of Pune - they either went onsite to US and came back or keep hopping within Pune; some of them who went in Bangalore / Hyd after passout came back to Pune with resolve of staying here forever
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  • Frequent buying and selling every 2-3 years is no joke!
    Considering you want to live in that house, one will go for nice furniture. This takes good efforts and money. They dont want their bangalore flat to go away, neither they want to put this much effort and take risk in pune, and be at risk of selling it again after 2 years. Isnt that being at square-1 again??

    Originally Posted by puser
    I did not get you how it puts them in worse position? They came to Pune, bought it and sold it (hoping they repay their loan and also get some surplus) - what they lost? Future is unknown, they can always rent in city which is not their hometown or where they dont want to settle; otherwise they can keep renting their flats if its their hometown(and there would be relatives to look after that flat if its their hometown).
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  • I even know some friends who came from Haryana, UP and Bihar and want to stay here only and bought flats; as per them this area is better politically than up the north

    So the assumption that if you work in IT - you keep moving across India for job is NOT TRUE; unless person is originally from AP or Karnataka (or south India) and want to move to South only after spending some time in Pune.

    Anyway none wants to change city, if someone is forced then it only means that company went bankrupt or he is laid off by company for some misconduct which I have not seen so far.
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  • Originally Posted by aditi sharma
    Frequent buying and selling every 2-3 years is no joke!
    Considering you want to live in that house, one will go for nice furniture. This takes good efforts and money. They dont want their bangalore flat to go away, neither they want to put this much effort and take risk in pune, and be at risk of selling it again after 2 years. Isnt that being at square-1 again??


    And how it differs from moving around different houses on rent? You need minimum basic furniture at least (bed, dining table, cupboard, computer table, television, fridge bla bla bla)...moving with all this - do folks call movers and packers? How much do they charge?

    Only difference I see is rent is less, EMI is more; so you end up paying interest more however if you sell and repay all ur loan plus get some profit; it might get compensated.
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