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...
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  • snchika..
    i dint get ur point..pl. elaborate lil more.

    thanx
    mintee
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  • All the Experts here,

    First of all Sorry for this long post.

    My cousin is based out of US (Calif), and he was planning to buy a house there. But looking at the current housing market scenario in US, he decided not to go ahead with that. Now he is thinking to invest it in Indian real estate market (Pune). He did inquire abt few Projects in Kharadi (Marvel, Vason, Kolte Patil etc) and for 3 BHK these guys are quoting around 85-90L. He can put more than 50% as down payment and go for small amount of loan.

    So here are the questions:

    1. Is this a good Time to invest in Indian (Pune) real estate market?
    2. Is Kharadi area worth of investing close to 90L?
    3. He is not sure what is the best way to invest money he has. Every traditional investment instruments looks risky and already reached to new highs.
    (Equities/RE/Gold/Silver).
    4. Any other idea of investing around 50-60 L are welcome.

    Thanks
    CommentQuote
  • Originally Posted by ashm03
    All the Experts here,

    First of all Sorry for this long post.

    My cousin is based out of US (Calif), and he was planning to buy a house there. But looking at the current housing market scenario in US, he decided not to go ahead with that. Now he is thinking to invest it in Indian real estate market (Pune). He did inquire abt few Projects in Kharadi (Marvel, Vason, Kolte Patil etc) and for 3 BHK these guys are quoting around 85-90L. He can put more than 50% as down payment and go for small amount of loan.

    So here are the questions:

    1. Is this a good Time to invest in Indian (Pune) real estate market?
    2. Is Kharadi area worth of investing close to 90L?
    3. He is not sure what is the best way to invest money he has. Every traditional investment instruments looks risky and already reached to new highs.
    (Equities/RE/Gold/Silver).
    4. Any other idea of investing around 50-60 L are welcome.

    Thanks

    If your cousin is looking for 5 yrs holding time then go ahead and buy ready to move in apartment in kharadi, Magarpatta City and Hinjewadi (all near by areas) area.

    Don't buy these high end apartments as these are not easy to sell. Since he can afford around 50 lakhs down payment then buy any ready to move in close to EON IT park.Also he can buy a ready to move in Row House.

    My favorite would be Magarpatta City. It is a functional township, lot of new inventory is coming up even the Magarpatta city is selling the new 3 and 4 bhk apartments.
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  • Originally Posted by mintee
    snchika..
    i dint get ur point..pl. elaborate lil more.

    thanx
    mintee


    Hi Mintee,

    I just want to convey that before finalizing any deal,its essential to check the details present online. Almost every information is available on real estate property.
    CommentQuote
  • ashm03, please check your PM
    CommentQuote
  • Originally Posted by ashm03
    All the Experts here,

    First of all Sorry for this long post.

    My cousin is based out of US (Calif), and he was planning to buy a house there. But looking at the current housing market scenario in US, he decided not to go ahead with that. Now he is thinking to invest it in Indian real estate market (Pune). He did inquire abt few Projects in Kharadi (Marvel, Vason, Kolte Patil etc) and for 3 BHK these guys are quoting around 85-90L. He can put more than 50% as down payment and go for small amount of loan.

    So here are the questions:

    1. Is this a good Time to invest in Indian (Pune) real estate market?
    2. Is Kharadi area worth of investing close to 90L?
    3. He is not sure what is the best way to invest money he has. Every traditional investment instruments looks risky and already reached to new highs.
    (Equities/RE/Gold/Silver).
    4. Any other idea of investing around 50-60 L are welcome.

    Thanks

    If it is for investment, then avoid Pune, Mumbai & NCR.
    Better to look at H'bad, Chennai.
    CommentQuote
  • Do you think Hyd with Telengana agitation will go up in the years though Chennai is definitely a good bet versus Pune if the investor has roots and local connections. I have friends who own apartments in Dallas and live in other locations and it is a pain to manage it sitting remotely
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  • Thnx so much guys .

    Manish76, are you aware of any good ready to move-in apartments in Kharadi area? Kharadi seems to be best option available in Eastern side of Pune. Magarpatta all new Apatrments are in the range of 1 Cr +. Kharadi seems to have more appreciation potential than Magarpatta (I may be wrong here).

    realacres, you are right. Pune/Mum/NCR are definitely over-valued. Only problem here is, his objective of both Investment (for next 5-6 years) and then if required to use for self. So Pune is the only option he has.
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  • Gera Emarald, Kumar Primerose and Ganga Constella are ready to move in and very close to EON IT Park. I guess these are good for investment and end use if working in EON.

    There is not a great difference in rates of Kharadi and Magarpatta. Gera Emarald(2 bhk 1250 sq ft) Costs 45 lakhs(base price) and Magarpatta IRIS (2bhk 940sq ft) costs 44 lakhs (base price).

    Off course, if you look only at the apartment but then Gera is better and bigger but the all those facilities not amenities which Magarpatta provides like Markets, Schools, Restaurants, Parks, Doctors, Banks, Travel Agents, well maintained roads and landscaped pavements, play ground for kids, IT Companies, high rental (Gera is 10k, i am paying 13 k) and upcoming Mall and Movie Theater in township, make Magarpatta a better bet than kharadi. But no one can predict the RE prices in India.

    Reason is that the Builder lobby via property dealers and News paper articles are advertising Kharadi beacuse of large number of projects going on there.

    I visited Everglade in Kharadi and was quoted Rs 3500/Sq Ft in March 2011. Now this weekend's Times Property is listing the Base price in Kharadi to be Rs 3850/Sq ft. Everglade is still not sold out and i bet they will quote 3850 if you go now. All the projects advertising in Kharadi in Larch are still looking for buyers but these builders and property dealers will give you impression that there is a huge demand and if you don't buy today you might not get the apartment tommorow.
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  • Thanks Manish for your input..by the way you said you are paying 13k...which area u r paying in?
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  • Originally Posted by Manish76
    Gera Emarald, Kumar Primerose and Ganga Constella are ready to move in and very close to EON IT Park. I guess these are good for investment and end use if working in EON.

    There is not a great difference in rates of Kharadi and Magarpatta. Gera Emarald(2 bhk 1250 sq ft) Costs 45 lakhs(base price) and Magarpatta IRIS (2bhk 940sq ft) costs 44 lakhs (base price).

    Off course, if you look only at the apartment but then Gera is better and bigger but the all those facilities not amenities which Magarpatta provides like Markets, Schools, Restaurants, Parks, Doctors, Banks, Travel Agents, well maintained roads and landscaped pavements, play ground for kids, IT Companies, high rental (Gera is 10k, i am paying 13 k) and upcoming Mall and Movie Theater in township, make Magarpatta a better bet than kharadi. But no one can predict the RE prices in India.

    Reason is that the Builder lobby via property dealers and News paper articles are advertising Kharadi beacuse of large number of projects going on there.

    I visited Everglade in Kharadi and was quoted Rs 3500/Sq Ft in March 2011. Now this weekend's Times Property is listing the Base price in Kharadi to be Rs 3850/Sq ft. Everglade is still not sold out and i bet they will quote 3850 if you go now. All the projects advertising in Kharadi in Larch are still looking for buyers but these builders and property dealers will give you impression that there is a huge demand and if you don't buy today you might not get the apartment tommorow.


    Hi just a different query, is there 1 BHK's in Magarpatta. if you what is the cost or rent for it.
    your information would be really helpful for me.
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  • stay on rent

    My honest advice to you, stay on rent. These are ridiculous rates for areas like kharadi and magarpatta!! Please do not get fooled by the tree lined avenues and the greenery. Have you thought about how much to pay for a maid in magarpatta? do you know how much a doc in magarpatta will charge? rent pe raho, tension free. In magarpatta you have no say over maint, you bang into a pole for no fault of yours, you will pay, make no mistake of it. there will be people who tell you buy now, you will not get these rates tomorrow. Do not get misled. there are properties which might not be exactly what you wanted in your dreams, might be a 10 minute more driving distance but a darn sight cheaper and more value for money. Finally your call!!
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  • Buy a Home and not house.

    Middle age parents who have owned a home understand its true value. A home has always been a good long term financial investment. However, homeownership also has many other benefits.

    The study broke up the answers into financial and non-financial reasons. The top four reasons and six of the top ten reasons were NON-FINANCIAL. The top four are below:

      It means having a good place to raise children and provide a good education. Means every other year they dont have to change the school and thier friends.
      You have a physical structure where you and your family feel safe.
      It allows you to have more space for your family.
      It gives you control over what you do with your living space (renovations & updates).
      Should this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to comeShould this surprise us? Aren’t these the same reasons our parents bought their home? Aren’t these the same reasons we purchased our home?
      These are the same reasons parents have suggested their children buy a home. They want the same things for their grandchildren that they believed to be important for their children

      When analyzing individuals who invested in a home versus those continuing to rent, there is a notable difference in their net worth long term. Each mortgage payment you make invests in your financial future, whereas each rent payment you make is someone else’s financial gain.

      Buying a home is about more than just having a place to live; it’s about having a long-term financial investment that will work for you in years to come
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  • See this link and do the math

    Pls do the math by yourself.

    Renting vs buying a house | Case Study on Personal Finance in India
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  • That Rent vs own calculation has some fundamental flaws

    1) It assumes a rent of 25000K for a property worth 70L. Ground reality, in Pune, a property costing 70L would fetch 15K rent at max.
    2) There is no separate calculation of the appreciation on money saved by renting. A good debt fund or Fixed instrument will fetch close to 8% PA. Equity will fetch more.
    3) Property appreciation assumed at 4%, this may or may not be true at all.
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