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...
Read more
Reply
50 Replies
Sort by :Filter by :
  • Getting the land and the proper approvals are the toughest job..thats the reason people go to the builders i guess..
    CommentQuote
  • 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.
    CommentQuote
  • 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.
    CommentQuote
  • OK..got it bhaiii:bab (4)::bab (4):
    CommentQuote
  • wait for 6 months

    what i feel is that,currently the cost of flat is too much. just think that paying a 15-20% down payment which is 10 Lakh for a flat costing 40 lac.
    and also for the rest of the amount we have to pay the emi for 20 years.
    Personally I Feel that once you bought the flat,employeed people like are not able to do anything more than flat in their life.
    CommentQuote
  • Originally Posted by neerajbans
    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.

    There are cases where builders have even made over 100-150% profits especially for the projects they started in 2005 & sold in 2007-08.

    The margin is no less than 50%. Had that been the case, how can builder buy fleet of Mercs & BMWs ??

    Man, I know a person who is constructing a 5 BR bungalow on 4000+ sq ft plot for price less than Nandan Prospera's 3 BR flat in the same area with direct access to Baner road (no DP stuff). And yes, he has purchased the land few months ago & the specs & quality are 10 times better than Nandan.
    CommentQuote
  • Originally Posted by anilsrikanti
    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)..!!!!!!!!

    The constro cost 700-900/sq ft for the builder. Also remember that you pay builder based on SALABLE AREA which includes terraces & not CARPET AREA.

    Hence, comparing 4000 sq ft bungalow with 4000 sq ft flat is wrong.
    CommentQuote
  • Right time to sell

    Answering the original question,

    This article says that it is right time to sell.
    Is this a good time to sell your house? - The Times of India
    CommentQuote
  • Hi

    Originally Posted by aditi sharma
    Answering the original question,

    This article says that it is right time to sell.
    Is this a good time to sell your house? - The Times of India


    Hi aditi,
    Thanks for the article.
    I have read most of your posts and really admire your views.

    But i have few doubts.

    But do you think that the property prices will correct in Pune?

    What i think is if someone is looking for Flat for Staying (Not Investment), he/she should look for ready possession flat (Possession in 2-3 months).
    That way they will not suffer by delays due to market slowdown/material availability etc etc.

    Whats your say on this.

    Also most of the people comments about the projects + and - points abt it.
    But then there are very few builders who are genuine in there quality and big number of takers.

    Regards,
    Mahesh
    CommentQuote
  • Originally Posted by maheshnale


    Originally Posted by maheshnale
    But do you think that the property prices will correct in Pune?


    Well, who can predict ? But seeing at current scenario, it is too hard to buy for almost everyone. If there are no takers, there will be correction. But my take on buying is on affordability and market sentiment. Right now, everything is negative about buying.

    Originally Posted by maheshnale
    What i think is if someone is looking for Flat for Staying (Not Investment), he/she should look for ready possession flat (Possession in 2-3 months).
    That way they will not suffer by delays due to market slowdown/material availability etc etc.


    Agreed 100%. Always buy ready possession, its not worth to get few hundreds of discount (it makes a few lakhs in the total) to wait for 3-5 years for possession, keep on paying EMI+rent, and wait for the unexpected things to happen. Ready possession is 'what you see is what you get'.


    Originally Posted by maheshnale
    Also most of the people comments about the projects + and - points abt it.
    But then there are very few builders who are genuine in there quality and big number of takers.


    Yes, there are many factors to consider. All reputed builders in pune are crap. Also there is no consistency you can expect. If a builder delivers a good project, There is no guarantee that the next project of the builder will be good. He may still screw you up. See mittal builder in sinhagarh road.
    Price is not the first thing to consider if the project is good or bad. First thing is all legal aspect of projects like approvals / any land issues etc. Then look for the location/construction quality, and of course affordability.
    My funda for affordability is simple. If I can finance 50% of total cost, and rest 50% of loan such that EMI does not exceed 40% of my salary, then its affordable. I wont buy untill I can't finance atleast half of my home. Any flat bought at 80% loan is just flat owned by bank and rented to you at 3x rent for next 20 years.

    Yes, there are many factors to consider. All reputed builders in pune are crap. Also there is no consistency you can expect. If a builder delivers a good project, There is no guarantee that the next project of the builder will be good. He may still screw you up. See mittal builder in sinhagarh road.
    Price is not the first thing to consider if the project is good or bad. First thing is all legal aspect of projects like approvals / any land issues etc. Then look for the location/construction quality, and of course affordability.
    My funda for affordability is simple. If I can finance 50% of total cost, and rest 50% of loan such that EMI does not exceed 40% of my salary, then its affordable. I wont buy untill I can't finance atleast half of my home. Any flat bought at 80% loan is just flat owned by bank and rented to you at 3x rent for next 20 years.
    CommentQuote
  • the cost is too much , shall be avoided buying at current levels.

    but in india there is always inclination to put money in gold and real estate

    so most of the times builders found one person or the other who is willing to pay
    CommentQuote
  • Originally Posted by maheshnale
    ...
    But do you think that the property prices will correct in Pune?
    ....


    I am not saying this scene will be every where in Pune, but in my society, i had seen (with my own eyes... :o) SQFT Rate printout as '4,400 / SQFT' on sales office wall...

    Couple of days back (on Sunday, to be precise), one of my friend made an inquiry for 3BHK and sales chap told him rate as 4,200 / SQFT.

    Project is Zinnea, near chandani chowk...
    CommentQuote
  • hi frends..

    followed all ur comments ..rearding..correct time to buy house & concluded to fact that..wait for some more time.

    why so...?

    do we really need to wait..as its been said..price may hike again by next month..wot say All.

    regards
    mintee.
    CommentQuote
  • Prices will only reduce if:
    1. There are very few buyers in market compared to properties on sale.
    2. There is a slow down in economy coming or in in place.

    Now the economy does not look like tanking in near future but if does then no will buy even you.

    The end users are although finding it difficult to buy these days but i have seen so many people putting at stake everything to buy a house.

    At these prices only long term investors(parking black money) will enter the RE.

    Builders will try their best to use these two types of buyers to sell some inventory and then try to hold and not negotiate or increase the price.

    Anyone who can afford to buy the house without taking too much loan, without degrading the living standard and still able to save something for retirement, should go ahead and buy otherwise just rent and thank all those who bought these apartments for you to stay.
    CommentQuote
  • Originally Posted by anilsrikanti
    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...


    Hi Friend,

    I think you should first get yourself that how long will it take to get completed and search online for the price quote.
    CommentQuote