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Settling down in Pune

Last updated: August 16 2012
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  • Settling down in Pune

    Hi all,
    First of, thanks to everyone who is sharing their thoughts on Pune RE. Without the wealth of knowledge available here, most of us would be easy scapegoats for builders.

    My story: I am married. No kids. Both me and my wife grew up in Mumbai and have family there. We would have prefered Mumbai but Mumbai is just unaffordable. Pune is close to Mumbai, hence close to family, hence our choice to settle down. Both my wife and me are in IT. Neither her nor my current companies have a branch office in Pune. So our work places could be anywhere in Pune once we decide to move. We are looking to buy a 3 BHK. I have an open budget as I intend to buy it to settle down in Pune. That said, anything in the very close vicinity of 1 Cr and above would be out of my budget. I am targeting end of 2012 as the time when I need a ready house to move in.

    My requirements in order of priority:
    1. Good construction
    2. Good schools in vicinity and decent locality for kids to grow up
    3. No water problems
    4. Reasonable commute to most IT hubs in Pune (I know there is no such thing :-)
    5. Reasonable commute to Mumbai (family)
    6. Under construction with possession in 2 years (eg. end of 2012) or resale in a building less than 3-4 years old

    My analysis:
    Let me first say that I know nothing about Pune. All my analysis is based on information available online on forums like this. From what I have gathered so far, it seems that most IT companies are in the northern part of Pune and central Pune.

    Hinjewadi/MIDC IT park in north west, Eon Free Zone/Kharadi/Koregoan Park/Magarpatta/Hadapsar in north east, other companies around central Pune.

    Given my requirements and the spread of IT companies across Pune, I have finalized 3 places where I am planning to search for a house.

    In order of preference
    1. Aundh
    2. Viman Nagar
    3. Kothrud

    I know Aundh and Kothrud are good areas.

    Do you have any thoughts on Viman Nagar? I hear there are some parts of Viman Nagar which have water problems and are too close to the airport so noise can be an issue. Does the area near Zircon (one of my current options for resale) has water and noise problems?

    Is there any other area you would recommend? Have I got it completely wrong with the 3 locations above?

    When commenting, please remember, I am buying to settle down for good and not for investment.

    thanks!

    PS. I am not interested in Baner/Wakad/Pimple */Pashan; Koregoan Park and Kalyani Nagar seem out of budget.
  • #2

    #2

    Re : Settling down in Pune

    You have given narrowed your options to Viman Nagar by virtue of eliminating everything else. I would say Wanavdi is a good area, and so is NIBM. If you have to spend 1CR I would do it in an established area. With 1CR you can buy a large apt in Baner or maybe a rowhouse too. If you are looking for places to hang out besides Kalyanai nagar and Koregoan park you have no other choices. I will never put 1CR in Viman Nagar.

    Comment

    • #3

      #3

      Re : Settling down in Pune

      Ramesh - thank you for your response.

      Just to clarify, I never said, I want to spend 1 Cr. Infact, I cannot afford 1 Cr. I don't have that kind of money :-) My budget is less than 1 Cr. I have just not given it a number since I do not know what to expect.

      The only reason I am not keen on some of the places you have mentioned is because I am not sure if they are good places if you plan to raise your kids there or live with aging parents.

      Also, I have not decided on Viman Nagar. It is just one of the options I am considering. I have started this thread to validate if that would be good place to settle down with family.

      Maybe there are only some parts of Viman Nagar that are better than the whole of Viman Nagar?

      Comment

      • #4

        #4

        Re : Settling down in Pune

        When you say budget of less than 1 crore, I guess u mean near to 1 crore. With that budget, I would have gone for areas like Aundh. Maybe not under construction property as we have seen/read about builders taking customers for a ride. Instead a ready posession flat/rowhouse or established property/society less than 3 yrs old where I can verify [or see for myself] the layout, facilities, convinience, any other issues [like water problem etc]. I would suggest narrow down the area depening on your preferance [school,workplace, other convinience] and start hunting fr established socieities in that area. Internet/Brokers/Word of mouth. You can also check with prmonent builders as they sometimes have flats unsold [deliberate or un-deliberately] in a few establised societies.

        Comment

        • #5

          #5

          Re : Settling down in Pune

          Well, since you dont know where your or your wife's work place is going to be, its really hard to take decision based on that. Yes, kid's school is also somehting that you want it to be near by ur home.. i mean you can stretch your commute by 5 more kms. but kids going in school bus, its pain.. or even if u drop them to school in ur car for that matter..

          Comment

          • #6

            #6

            Re : Settling down in Pune

            Since you dont know much about pune, I would rather rent a place here in either Aundh/kothrud (both these places I guess fits in your requirement) for 1 yr or so...go around , get the feel and finalize...
            from locations point of view and budget close to 1Cr I would go for Kothrud if you can manage with traffic

            Comment

            • #7

              #7

              Re : Settling down in Pune

              Originally posted by inquisitive View Post
              Ramesh - thank you for your response.

              Just to clarify, I never said, I want to spend 1 Cr. Infact, I cannot afford 1 Cr. I don't have that kind of money :-) My budget is less than 1 Cr. I have just not given it a number since I do not know what to expect.

              The only reason I am not keen on some of the places you have mentioned is because I am not sure if they are good places if you plan to raise your kids there or live with aging parents.

              Also, I have not decided on Viman Nagar. It is just one of the options I am considering. I have started this thread to validate if that would be good place to settle down with family.

              Maybe there are only some parts of Viman Nagar that are better than the whole of Viman Nagar?
              Inquisitive, I would say that all the options you have narrowed down are good options for Pune.

              If you need to narrow down further, you need to ask yourself what your priorities are, apart from what you have stated:

              1. Preference to greenery
              2. Preference to peace and quiet
              3. Preference to proximity - how far away do you want to be from the nearest good hospital, school/college, mall, multiplex, good eating places and clubs, city center, railway station, airport, Mumbai highway
              4. Preference to living in a traditional area vs cosmopolitan area

              Your budget is high enough that you can look at any place in Pune, and yes, that even includes KP and Kalyani Nagar. Not sure why you say that these places are out of your budget. For example, large 2BHK aptts in Kalyani are currently going for 65-70. Don't go by the figures that you read in papers, they are often inflated... if you approach as a serious buyer, you will find that there are options everywhere... just that your budget needs to be at least in the 65+ range. Despite what everyone claims, right now, everyone (investors) is trying to sell and not many people are trying to buy at this range. So you have a LOT of options.. trust me.

              My personal take on this - go for a really good locality. This way, even if prices will drop or will become static, premium localities will be the least affected.. secondly, in the future, you will get many more buyers at a high price point if the locality is a premium locality.

              Comment

              • #8

                #8

                Re : Settling down in Pune

                Originally posted by gandalf View Post
                Since you dont know much about pune, I would rather rent a place here in either Aundh/kothrud (both these places I guess fits in your requirement) for 1 yr or so...go around , get the feel and finalize...
                from locations point of view and budget close to 1Cr I would go for Kothrud if you can manage with traffic
                +1

                No point spending big bucks and getting stuck in a place which you might not end up liking... Best is to rent first know the city know which area you like and then buy there.

                VK

                Comment

                • #9

                  #9

                  Re : Settling down in Pune

                  Stay In Mumbai

                  If I had been in your place, I would have purchased in Thane, Powai or Navi Mumbai for the simple reason you want to be in Mumbai but can't because of high prices in prime localities. However, the infra of Thane is better than Vimannagar & Navi Mumbai is more planned than areas like Kothrud.

                  Add to it, both of you don't have offices in Pune, so you are again speculating. Man, if you are happy with your co., no point in changing it just for the sake of Pune.

                  All in all, search for good projects in Mumbai suburbs & stay there.
                  If you are happy, you are successful.

                  Comment

                  • #10

                    #10

                    Re : Settling down in Pune

                    Originally posted by imemyself View Post
                    When you say budget of less than 1 crore, I guess u mean near to 1 crore. With that budget, I would have gone for areas like Aundh. Maybe not under construction property as we have seen/read about builders taking customers for a ride. Instead a ready posession flat/rowhouse or established property/society less than 3 yrs old where I can verify [or see for myself] the layout, facilities, convinience, any other issues [like water problem etc]. I would suggest narrow down the area depening on your preferance [school,workplace, other convinience] and start hunting fr established socieities in that area. Internet/Brokers/Word of mouth. You can also check with prmonent builders as they sometimes have flats unsold [deliberate or un-deliberately] in a few establised societies.
                    imemyself - thank you sharing your thoughts. I will keep this in mind as I go through my search. I do have Aundh in my list. Do you have projects which you can recommend in Aundh that I should consider?

                    Comment

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