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Is it the right time to buy a house?

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Is it the right time to buy a house?

Last updated: June 30 2011
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  • Is it the right time to buy a house?

    Hello Frends..

    Please suggest me as iam in a big diellemaa to buy a house or not...(PUNE)..

    I have finalised a flat in kharadi for 42 lcs...(1250sqf)

    KOlte patil--hinjwadi-2800per squarefeet..

    Please guide whether to go ahead or wait for the correction...
  • #2

    #2

    Re : Is it the right time to buy a house?

    Originally posted by anilsrikanti View Post
    Hello Frends..

    Please suggest me as iam in a big diellemaa to buy a house or not...(PUNE)..

    I have finalised a flat in kharadi for 42 lcs...(1250sqf)

    KOlte patil--hinjwadi-2800per squarefeet..

    Please guide whether to go ahead or wait for the correction...
    Is this Kolte Patil project behind Persistent one!!. If yes man just ask ppl who are working in the vicinity of that project for how long construction on that project is going on? That should help you make your decision.

    Comment

    • #3

      #3

      Re : Is it the right time to buy a house?

      Originally posted by anilsrikanti View Post
      Hello Frends..

      Please suggest me as iam in a big diellemaa to buy a house or not...(PUNE)..

      I have finalised a flat in kharadi for 42 lcs...(1250sqf)

      KOlte patil--hinjwadi-2800per squarefeet..

      Please guide whether to go ahead or wait for the correction...
      I guess its a typo....should be 52 and not 42....... or may be its wagoli n not kharadi....

      which project is offering 1250 sqft for 42 lacs in kharadi??????
      to reach at a figure of 42 lacs for 1250...the rates must be below 3000......
      1250*3000 = 37,50,000 + 2L parking + mainte + nonsense charges.....

      even resales are asking for near about 3300-3500 rates....

      Comment

      • #4

        #4

        Re : Is it the right time to buy a house?

        yar..

        Kharadi--is a resale Flat..the owner is desperate to to sell.so i bargained..its in Gera emerald..

        The kolte patil is ---at Marunje Village...i think everybody is aware of it...
        But iam asking why the rates are touching the skies in PUNE..

        Is there really any demand...??

        Or we can wait for 5 or 6 months?

        Comment

        • #5

          #5

          Re : Is it the right time to buy a house?

          worst time to buy........

          definitely a wait for few months is recommended....

          but buy if you are getting a good bargain and VFM

          Comment

          • #6

            #6

            Re : Is it the right time to buy a house?

            What is VFM???

            Comment

            • #7

              #7

              Re : Is it the right time to buy a house?

              Originally posted by anilsrikanti View Post
              What is VFM???
              Value For Money...
              BTW if you are getting a good deal in a good location you should go for it..

              Comment

              • #8

                #8

                Re : Is it the right time to buy a house?

                I have been living in Magarpatta City and have been looking for apartment in Kharadi and Wadgaon Sheri region for last 3 months. In march, i met few property dealers and looked at few apartments in Kharadi (Kumar Primevera, Mount & Glory and some more). The prices ranged from 40 to 46 lakhs package. Gera Emarald, Kumar Primrose, Dev Exotica were ignored because the quoted price was upwards of 50 lakhs.

                Then i checked in Magarpatta City and package for Iris(940 Sq Ft) was 47.5 Lakh including dealer commision (i was about to give the booking check). But then when i sat down to think about buying, one thing really puzzled me was why a well established township (with markets, doctors, schools, IT offices, upcoming shopping Mall) is selling at such low prices. I decided to wait for 6 months and started to follow the newspaper listing on daily basis and online also.

                Now in the month of June, the prices in Magarpatta are same. The Gera Emerald property is being listed for 42 and 45 Lakhs in Newspapers for last one month. Sometime back Gulmohar City 2 bhk(1050 Sq ft) was quoted at 38 Lakhs package in news papers. Amanora is now selling with 7.77% interest rate.

                The Gulmohar Queenstown and Ritz in Kharadi have advertising for last 3 months.

                My understanding of situation is that there is some pressure on property prices, at these rates there are very few investors and end users are finding it difficult to cough up upwards of 40 Lakhs for 2 bhk.

                The job market will remain stable for next few years but there won't be any boom. IT job offering are mostly in below 10 lakh package and onsites are reducing beacuse of pricing pressure.

                If you are an investor then make sure that your Home Loan segment should be as small as possible. Expect not a great deal of appreciation but surely prices will increase.

                If you are end user then Gera emarald deal looks ok if you are not taking too much home loan.

                At this point of time don't buy any under construction property having total cost upwards of 35 lakhs.

                Comment

                • #9

                  #9

                  Re : Is it the right time to buy a house?

                  All Senior Guys,,,,

                  THis is a general question...

                  Forgetting about the area and the value..How much a 1000sqft flat costs in construction for a builder including all coatings..tiles and other amenities that they offer??

                  if a flat price is 40L...i Wonder whether a flat atleast constitute 15 lacs..?? (considering total cost/1 flat cost)..!!!!!!!!

                  Comment

                  • #10

                    #10

                    Re : Is it the right time to buy a house?

                    Originally posted by Manish76 View Post
                    I have been living in Magarpatta City and have been looking for apartment in Kharadi and Wadgaon Sheri region for last 3 months. In march, i met few property dealers and looked at few apartments in Kharadi (Kumar Primevera, Mount & Glory and some more). The prices ranged from 40 to 46 lakhs package. Gera Emarald, Kumar Primrose, Dev Exotica were ignored because the quoted price was upwards of 50 lakhs.

                    Then i checked in Magarpatta City and package for Iris(940 Sq Ft) was 47.5 Lakh including dealer commision (i was about to give the booking check). But then when i sat down to think about buying, one thing really puzzled me was why a well established township (with markets, doctors, schools, IT offices, upcoming shopping Mall) is selling at such low prices. I decided to wait for 6 months and started to follow the newspaper listing on daily basis and online also.

                    Now in the month of June, the prices in Magarpatta are same. The Gera Emerald property is being listed for 42 and 45 Lakhs in Newspapers for last one month. Sometime back Gulmohar City 2 bhk(1050 Sq ft) was quoted at 38 Lakhs package in news papers. Amanora is now selling with 7.77% interest rate.

                    The Gulmohar Queenstown and Ritz in Kharadi have advertising for last 3 months.

                    My understanding of situation is that there is some pressure on property prices, at these rates there are very few investors and end users are finding it difficult to cough up upwards of 40 Lakhs for 2 bhk.

                    The job market will remain stable for next few years but there won't be any boom. IT job offering are mostly in below 10 lakh package and onsites are reducing beacuse of pricing pressure.

                    If you are an investor then make sure that your Home Loan segment should be as small as possible. Expect not a great deal of appreciation but surely prices will increase.

                    If you are end user then Gera emarald deal looks ok if you are not taking too much home loan.

                    At this point of time don't buy any under construction property having total cost upwards of 35 lakhs.





                    Thanks Manish..For your valued input

                    Comment

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