Dear Seniors and experts.

I know its bit personal , But Can you guide me on one decision ?

I have 1.5 Guntha Plot in Manjari , Hadapsar Near manjari Greens. 400 meters from Highway.

I have two options one is to buy 930 sgft 2 BHK Flat in Ambegaon which is costing me 34 Lakh , or Invest my 10 lakh savings in Building house on my plot. As this manjari area is not fully developed I am bit confused what to do ?

With approx 6 L / annum income today , i think 24 L is quite a big loan for me.
I hope to build 900 Sqft 2 BHK within 16 lakh on plot. So 6 lakh extra loan is within capacity I guess.
And with the uncertinity in mfg sector , I dont want to tie down myself to one location ( company ) because i have purchased a flat there . What do you think ? Did manjari have chance to develope in good suburb ? I am bit worried because i afraid , may be 2 BHK price will go out of my reach if i wait even more. And i am under immense pressure from my better half to buy flat. I hope you guys will guide me well.

regards
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  • Originally Posted by coolzip
    Dear Seniors and experts.
    I know its bit personal , But Can you guide me on one decision ?

    If possible, develop your plot gradually let's say 1BHK in the basement. Then as income & need rises develop 1st floor for more rooms.
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  • Is your plot in a safe location, like a gated society? Is the surrounding area lonely? Check these factors before you decide. If the answers are positive then building your own house is always better.
    If you are going for a loan for flat purchase, check that your EMI does not exceed 40-45% of your take home salary.
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  • I feel you should construct on your plot as per current need with less investment which will serve your purpose of house. And can go ahead with purchase of 1 BHK with less budget in the other area of interest where you will have an option to shift if you change your job :) I hope this helps.
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  • Originally Posted by coolzip
    Dear Seniors and experts.

    I know its bit personal , But Can you guide me on one decision ?

    I have 1.5 Guntha Plot in Manjari , Hadapsar Near manjari Greens. 400 meters from Highway.

    I have two options one is to buy 930 sgft 2 BHK Flat in Ambegaon which is costing me 34 Lakh , or Invest my 10 lakh savings in Building house on my plot. As this manjari area is not fully developed I am bit confused what to do ?

    With approx 6 L / annum income today , i think 24 L is quite a big loan for me.
    I hope to build 900 Sqft 2 BHK within 16 lakh on plot. So 6 lakh extra loan is within capacity I guess.
    And with the uncertinity in mfg sector , I dont want to tie down myself to one location ( company ) because i have purchased a flat there . What do you think ? Did manjari have chance to develope in good suburb ? I am bit worried because i afraid , may be 2 BHK price will go out of my reach if i wait even more. And i am under immense pressure from my better half to buy flat. I hope you guys will guide me well.

    regards


    Developing your plot gradually , like building a single floor first is a better option and cost will be within your reach . Keep an additional buffer of 25% over your estimation .
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  • Before taking a decision to build the plot see the points mentioned by Nitesh...these days security is the most imp. question and I feel if your plot is not in gated society then you have big risk!
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  • Keep holding your land....

    If you feel you can't contruct there right now and live then just forget that it even exists.....

    in a period of few years it would give good appreciation and you may even contruct ur dream independent house there.

    Manjiri has very good potential for future developments...

    try looking for an affordable accomodation for yourself.......as prices are inflated I would suggest keep renting till therr is some correction
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  • 1.5 guntha...means around 1500 sqft ? why not think of starting some business there?
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  • Originally Posted by kingmanish
    Keep holding your land....

    If you feel you can't contruct there right now and live then just forget that it even exists.....

    in a period of few years it would give good appreciation and you may even contruct ur dream independent house there.

    Manjiri has very good potential for future developments...

    try looking for an affordable accomodation for yourself.......as prices are inflated I would suggest keep renting till therr is some correction


    Dont forget that it exists...check the records every year...otherwise after few years you'll be shocked somebody else has built up a house there :)
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  • Originally Posted by suryawork
    Dont forget that it exists...check the records every year...otherwise after few years you'll be shocked somebody else has built up a house there :)


    :D:D:D I would suggest tell me the location and forget :D
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  • Dear’s , Thank you for interesting replies.
    Hitmady – Yes Developing This plot gradually was one of idea in my mind. Because we don’t need a big house as of now for family of three. And rent in this area is 4K for 1 BHK . So building for renting is not a good option as of Now.
    Nitesh321 – Yes Security is major concern . This is well plotted society with internal roads around 50 plots of 3 guntha . But there is NO wire compound. There are 8-9 houses already built in society. And they are “planning’ to make a compound. May be 1 more year after.
    Aedhole – I like your advice most. As most of mfg is towards chakan and pimpri chinchwad and new MIDC around talegaon. I think Bulding 1 BHK on ground in Majari and buying low budget 1 BHK in PCMC would be a good bet. In this case I can rent out one of the house and would have liberty to choose job in any direction of pune. Saving travelling time is priority in this case.

    Kingmanish – Yes , having a independent house than a intricate flat is what I always wish , So I never want to sell this plot despite offers. And with DSK multimedia school near , and DY patil media university coming there I ‘hope’ manjari will develop.
    Pusher – Doing business is better than working in mfg industry for 6L/A. But this society peoples have made rules so that we cant do noisy business there. May be a trading office on ground floor and residence on first floor would ‘click’
    Suryawork –thanks for very important point. As I am working out of pune , I should send someone to check frequently if somebody have done encroachment.
    Thank you sanjay.
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  • CooZip,
    Remember one thing -
    When you do the RCC structure, make a design of the full FSI capacity and do the RCC for full G+1 floor.
    As your plot size is small (1.5 gunths), you can't do a tall tower, so presuming G+1.
    RCC is the most painful job in a existing structure and ends up with lot of structural leakage issues...

    So, do the RCC for the entire bunglow and finish only G floor and enjoy your stay...
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