Hello Forum members,

Can anyone shed the latest rate in this area quoted by builders/re-sale. OI have an apartment here which I would like to sell. Also what is the multiplier to get the saleable area these days ?

Thx
Read more
Reply
60 Replies
Sort by :Filter by :
  • Originally Posted by GlobeSon
    This is a good analysis (/ compilation). While the stated reasons for people to choose locality are well justified, I do not quite understand why IT people prefer IT majority residential localities.

    Whenever a co-worker distributes sweets for buying new house, I ask them why they preferred to buy in a particular society/location/suburb. Most of the times the answer has 'crowd is mostly IT' as a primary reason. (complemented by reasons such as large malls/shopping complexes, multiplex theaters).


    Well there is a reason to buy flat in an area which has a more cosmopolitan outlook than local dominance especially for non marathi speaking people.

    Where most IT people live means they are from all over the country rather than mostly local.
    Home is not just about society but when you step out of it as well. There are local dominating areas where people try to bully non xxx speaking crowd and are ready to pick a fight at the drop of a hat.
    CommentQuote
  • Originally Posted by kingmanish
    There are local dominating areas where people try to bully non marathi speaking crowd and are ready to pick a fight at the drop of a hat.


    The #1 example of that being the Aundh-Baner-Balewadi belt.
    CommentQuote
  • Originally Posted by ashwinrath
    The #1 example of that being the Aundh-Baner-Balewadi belt.


    And Baner pashan link road locality fits to the hilt ! Most schemes on that road are Paranjape, and they have a defined set of customers. It is not a locality for IT walas (local or outsider).
    Walk down the road and observe. More greenery than other parts of Baner, but still gives me a very mayoos impression. I dont see many smiling faces.
    CommentQuote
  • Originally Posted by BaagadBilla
    And Baner pashan link road locality fits to the hilt ! Most schemes on that road are Paranjape, and they have a defined set of customers. It is not a locality for IT walas (local or outsider).
    Walk down the road and observe. More greenery than other parts of Baner, but still gives me a very mayoos impression. I dont see many smiling faces.


    Thats probably because they have exhausted their savings on buying property in this inflated area and finally realized that its actually worth nothing :-)
    CommentQuote
  • i hear you. Being a local, probably never thought on those lines.

    Not sure how security/safety concerns are addressed by flocking with other ITians though. If you get into odds with some local goondas, your IT brothers won't even stand with you. Moreover, that is true even for local/marathi guys without a goonda connection.

    Apart from a cosmopolitan culture, I feel that a society should have people from all professions. Even people working with government agencies turn out to be quite effective in solving society issues such as water problems and dealings with PMC stuff. Lawyers, doctors, engineers, etc. can be very useful. A civil engineer in my society supervised all the civil maintenance work for free and helped pick the best contractor.
    Of course, you don't want your kids to believe that IT is the only profession in the world, and onsite is the only place to go.

    Based on what you have stated, I now understand why RE sales persons never forget to mention-'oh, lots of IT guys have booked in Phase 1'. (...and now that becomes their main selling point!- That's short of saying, 'if IT people have booked houses here, it ought to be good', and if you ask any more questions or raise doubts, you will sound like an ignorant fool)

    Originally Posted by kingmanish
    Well there is a reason to buy flat in an area which has a more cosmopolitan outlook than local dominance especially for non marathi speaking people.

    Where most IT people live means they are from all over the country rather than mostly local.
    Home is not just about society but when you step out of it as well. There are local dominating areas where people try to bully non xxx speaking crowd and are ready to pick a fight at the drop of a hat.
    CommentQuote
  • @ashwinrath
    or maybe they keep wondering if the guy coming their way is normal or bully type :), so smiling is last emo on their mind.

    B'billa. thx for info on Calsoft/Symantec. No plans to join but always wondered how come these companies are in midst of a residential zone ? actually its better to have such a setup as it reduces traffic on the road and save travelling time for emps (should ideally reflect in higher productivity, not sure if its true in reality).

    reason to prefer buying house in IT crowd (some items can be extended to renting)
    1. More unlikely construction will stop due to one or more not paying installment
    2. Higher chance of appreciation as it will attract more IT during resale
    3. Overall getup will be posh as money is not that big a problem
    4. People work in IT means basic etiquettes assured (company spend money in recruitment/training)
    5. Non IT people know that a person having some political backing/scorpions won't join IT so more likely of peaceful neighbourhood
    6. Higher chance that it will be self occupied and of not it most probably will be rented to some IT guy from his circle (who then later would like to buy at same place/locality)

    Factor (2) and (6) are self feedback loop :)
    CommentQuote
  • Originally Posted by compuwalah
    @ashwinrath
    or maybe they keep wondering if the guy coming their way is normal or bully type :), so smiling is last emo on their mind.

    B'billa. thx for info on Calsoft/Symantec. No plans to join but always wondered how come these companies are in midst of a residential zone ? actually its better to have such a setup as it reduces traffic on the road and save travelling time for emps (should ideally reflect in higher productivity, not sure if its true in reality).

    reason to prefer buying house in IT crowd (some items can be extended to renting)
    1. More unlikely construction will stop due to one or more not paying installment
    2. Higher chance of appreciation as it will attract more IT during resale
    3. Overall getup will be posh as money is not that big a problem
    4. People work in IT means basic etiquettes assured (company spend money in recruitment/training)
    5. Non IT people know that a person having some political backing/scorpions won't join IT so more likely of peaceful neighbourhood
    6. Higher chance that it will be self occupied and of not it most probably will be rented to some IT guy from his circle (who then later would like to buy at same place/locality)

    Factor (2) and (6) are self feedback loop :)


    good analysis. But we are talking about a house that is expected to last for 50 years (IS:456 - Design period for RCC structure). And none of the above are guaranteed for any amount of time.

    e.g.objectives 1,2,3,5 could be hit if one industry (IT) gets into trouble.
    CommentQuote
  • Originally Posted by compuwalah

    3. Overall getup will be posh as money is not that big a problem


    The greatest misconception is that IT is high on cash and money is not a big problem. I can tell you one thing right now and that is IT is already running dry. It is absolutely impossible for most double income IT families with as high as 10 years of exp each to buy a decent property in Pune without the constant worry of losing their job, losing sleep and losing out on life.

    Let this be a message to all in this forum who think IT is minting money : IT IS NOT. It probably was back in 1995 to 2000 but not any more.
    CommentQuote
  • Originally Posted by ashwinrath
    The greatest misconception is that IT is high on cash and money is not a big problem. I can tell you one thing right now and that is IT is already running dry. It is absolutely impossible for most double income IT families with as high as 10 years of exp each to buy a decent property in Pune without the constant worry of losing their job, losing sleep and losing out on life.

    Let this be a message to all in this forum who think IT is minting money : IT IS NOT. It probably was back in 1995 to 2000 but not any more.


    well, I guess, its not the case that IT people are loaded with cash and have no place to keep it. But they have been the single largest class of buyers.

    The fact remains that IT class constitutes majority of buyers for the last decade, especially when it comes to areas like Pimple Saudagar, Baner, Wakad, Hinjewadi,....

    All IT couples that I know, own at least 2 flats purchased over the last 10 years.
    Things may not be very easy going in the future, at the current rates.

    In no other industry I see people buying house at 27-30 yrs age.

    If builders are targeting IT buyers, that's not without good reason.
    CommentQuote
  • Originally Posted by GlobeSon
    well, I guess, its not the case that IT people are loaded with cash and have no place to keep it. But they have been the single largest class of buyers.

    The fact remains that IT class constitutes majority of buyers for the last decade, especially when it comes to areas like Pimple Saudagar, Baner, Wakad, Hinjewadi,....

    All IT couples that I know, own at least 2 flats purchased over the last 10 years.
    Things may not be very easy going in the future, at the current rates.

    In no other industry I see people buying house at 27-30 yrs age.

    If builders are targeting IT buyers, that's not without good reason.


    @globeson, @ashwinrath,

    I would say that IT is still lucrative, but not as much as it was before 2010.

    >>> The fact remains that IT class constitutes majority of buyers for the last decade, especially when it comes to areas like Pimple Saudagar, Baner, Wakad, Hinjewadi,....

    These days even this IT class is not buying.

    >>> All IT couples that I know, own at least 2 flats purchased over the last 10 years.

    But let me know how many 5 year exp IT guys are buying these days. Soon, IT couples with 10 year exp will also not be able to buy.

    >>> In no other industry I see people buying house at 27-30 yrs age.

    These days ?? They must have bought when they were 27-30 before 2008. I dont think IT couples below 30 will be able to buy these days .
    CommentQuote
  • Crystal Tower

    What do experts feel about Crystal Towers project by Paranjape schemes which is located on BPLR? This new scheme is sharing amenities with Crsystal Garden and is quoted at 1CR+ for a 2BHK.

    Can any resident of Crystal Garden share experience about their stay? Amenities, quality of construction and most importantly water supply?
    CommentQuote
  • Crystal Towers

    Any feedback on Crystal Towers by Paranjape schemes?
    CommentQuote
  • Originally Posted by sqaurefoot

    Can any resident of Crystal Garden share experience about their stay? Amenities, quality of construction and most importantly water supply?


    Don't know about Crystal Garden but newer societies have water problems.

    Water shortage: Baner-Pashan Link Road residents allege foul play - The Times of India

    That entire belt has ton of issues. Because of that, the Baner Pashan Link Road Vikas Samiti was formed to tackle issues like water, garbage, street lights, stray dogs, traffic accidents etc. This Samiti is made up of some 53 housing societies. Sorry state of affairs where in the end, residents have to take charge as PMC cannot provide the promised facilities.

    If you are serious about living in this area, then contact the Samiti.

    A friend of mine living in one of the Mont Vert societies, pays around 1,500 to 2,000 per month for water tanker charges. They go up in summer.
    CommentQuote
  • Originally Posted by pnq2012
    Don't know about Crystal Garden but newer societies have water problems.

    Water shortage: Baner-Pashan Link Road residents allege foul play - The Times of India

    That entire belt has ton of issues. Because of that, the Baner Pashan Link Road Vikas Samiti was formed to tackle issues like water, garbage, street lights, stray dogs, traffic accidents etc. This Samiti is made up of some 53 housing societies. Sorry state of affairs where in the end, residents have to take charge as PMC cannot provide the promised facilities.

    If you are serious about living in this area, then contact the Samiti.

    A friend of mine living in one of the Mont Vert societies, pays around 1,500 to 2,000 per month for water tanker charges. They go up in summer.


    And this is a supposedly premium area !
    Always found it overhyped. And rightly so.
    CommentQuote
  • pnq2012.

    The problem you mentioned are issues in many other places. However people here are wise enough to form Samiti so as to systematically work towards solving them in Baner Pashan Link Road area. Similar samiti also exist in Aundh region and they have been successful in solving many problem over the years. This rather is a very positive thing about this area. Otherwise IT folks are all in high air and rarely form any groups or come together for a common cause. (IT bashing quota for today done :))
    CommentQuote