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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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  • #11

    #11

    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

    • #12

      #12

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

      Half of what you think

      Originally posted by anilsrikanti View Post
      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)..!!!!!!!!
      Just the construction cost could be anything between 700 to 1000/sqft.
      Builders leverage economies of scale so their costing is quite cheap.

      So about 7Lacs to 10Lacs for construction of a 1000sqft flat.

      Comment

      • #13

        #13

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

        So if..we form a team of five and apoint a construction work team .....we can construct a building ..suppose of 5 flats in less than 1 crore (i.e 20 lacs per head inclusive of land cost )...considering only 5 flats and parking on the base ment if we keep that free...Rite..?/

        Then why do people go for builders..Is it that much inmpossible to form a group and constructing a budgeted building in PUNE just like what we do in small towns and villages??

        Comment

        • #14

          #14

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

          Originally posted by anilsrikanti View Post
          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)..!!!!!!!!
          pure construction cost for a 1000 sqft flat is not more than 10L (1000 psf). Add the costs for land, marketing, interest on loan and builder profit and you get the final figure - which sadly is 4-5 times as much!

          Comment

          • #15

            #15

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

            Then why dont 5 people form a grup and construct a house..why that doesnt happen..??

            If that is possible..all the discussion abt builder and reading baout inflation/RBI lrates..blah blah wont happen rite..?!!

            what do u say

            Comment

            • #16

              #16

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

              Land cost (N.A.) if you are buying within the city, say Kharadi for individual or group of users would be approx. 2000 psft, which is the major cost. However a builder buys the agricultural land and gets it converted into commercial (here is where they have to pay to Scorpio chaps). They get land at 200-500 sqft and make margin.

              However to say that builder has 50% margin is a myth, nobody makes more than 15%-20% after all the costs (incl. bribes) and in the recent tough times it may be even negative.

              Comment

              • #17

                #17

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

                Getting the land and the proper approvals are the toughest job..thats the reason people go to the builders i guess..

                Comment

                • #18

                  #18

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

                  I agree with Kamles , but you can still try , these kind of
                  groupings is gearing up in other cities

                  Gulmohar in Kharadi charging 4000/- Per SFT last week, they can come upto 3800/- , its a good location if you are thinking from an end user perspective, remember there is no transport facility till EON , you need to Pay for Autowallahs!!!

                  coming to OP (original Post)

                  As the interest rates are increased , the builders may look to get down the prices, so i would suggest you to wait for few more months before buying until unless the deal is really good.

                  Comment

                  • #19

                    #19

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

                    Why not build their own house rather than constructing flats?

                    Infact, My question is why one we all take leave from office for 6 months and build our own house and plan the house and put in physical labour.

                    That way, we dont have worry about labour cost and other related problem also. How about that?


                    Bhai.. jiska kaam hai joh kare toh achcha hai.

                    I was with my parents when constructing our house is native place.. I know how difficult it is. There are so many problems in building a house. Its 100% labour intese work also getting govt work done is surely a big deal in India.

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                    • #20

                      #20

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

                      OK..got it bhaiii

                      Comment

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