i have been looking for a bungalow plot for a while in Baner but had not found anything i liked.

this morning i have been shown a plot which:


    is between 20,000 to 25,000 sq feet (exact area to be confirmed shortly, owner will only charge for total area minus road reservations)
    NA, FSI 0.9
    in a very quiet, prime area of baner (near petrol pump, less than 700 feet from main Baner road)
    ideal for a bungalow society
    clean and clear in all respects


    since the size is a little big and price is firm at 4000 rs per sqft, i am wondering if there may be others who might be interested in buying a piece on the following terms:



      min size per person 3000 sq ft. so min price is 1.2 cr + govt fees + legal fees + brokerage. these costs can go up depending on a lot of post-sale factors: will we have our society, common amenities, internal road paving etc etc so count in some buffer as well.
      some area my be lost to internal roads. we can divide the FSI proportionately.
      agree to be bound to build only residential bungalows with a maximum 30m height G+2 structure
      loans will be possible upto 80% of the agreement value
      plot choice on first come first served basis
      conduct independent due diligence and be convinced that the price is fair for the area since there is no room for negotiation.
      lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.lets discuss this idea in public for a few days to sort out all aspects threadbare by july 25th. if things seem feasible, i'd like to get a lock on the transaction by that date at the latest.

      please also contribute even if you are not interested in this particular plot but may know about other plots in the area or have tips on what to do/not do or anything else.

      i am intimately familiar with the area and am convinced that 4000 is a fair price to pay but please feel free to discuss that aspect as well - just not on this thread, PLEASE.
Read more
Reply
56 Replies
Sort by :Filter by :
  • 4000 Rs Per Square Feet for land? Or you have included construction cost as well?
    CommentQuote
  • 4000 psf....for open NA land...that too in baner...are u joking man... rate is something around 2200-2500 in that area
    CommentQuote
  • 4000 psf is the price of the land. does not include construction. plot owners will construct at their own cost/pace.

    so if you want to compare with a flat:

    plot:
    land cost for 3000 sq feet: 1.2 cr
    construction cost for 2700 carpet at 1500 psf= 40.5 lakhs
    total cost for 2700 carpet = 1.65 cr

    flat:
    carpet 2700, saleable 3510 at 5500 (which is the rate at regency cosmos, 2 km further down on baner road) = 1.93 cr

    stamp duty etc. may work out to be same more or less. you wont pay extra for parking or be overcharged for legal/MSEB.

    also maximum height is 30 feet (not 30 m).
    CommentQuote
  • Originally Posted by aedhole
    4000 psf....for open NA land...that too in baner...are u joking man... rate is something around 2200-2500 in that area


    this is precisely the sort of discussion i'd rather not get into. long story short, if you find something in baner before food bazaar at anything around your price: buy it yesterday.
    CommentQuote
  • Uncletom,

    I think you have forgotten that flat gets loan if you have 15 % cash, but for plot, you have to have complete cash or loan with very huge intereste rate

    Consider that too in this comparison :)
    CommentQuote
  • other questions

    some questions recd:

    ownership: up in the air. we can have individual CTS/7-12 ownership or society owned/alloted or leasehold. the only thing that i think might be desirable is to have some way of making sure someone with say a 5000 sf plot, does not construct an apt building/commercial office next door.

    exact location: site visit with the entire group once we meet in person

    constructon assistance: i am not in construction and will look for a contractor to build my house. everyone is free to build however/whenever they want. but we would prefer people who want to build right away.

    maximum plot size: not decided. but i dont want someone to come in and monopolise the colony. so, am leaning towards 6000 sf.

    mode of payment: down payment.
    CommentQuote
  • Originally Posted by UncleTom
    4000 psf is the price of the land. does not include construction. plot owners will construct at their own cost/pace.

    so if you want to compare with a flat:

    plot:
    land cost for 3000 sq feet: 1.2 cr
    construction cost for 2700 carpet at 1500 psf= 40.5 lakhs
    total cost for 2700 carpet = 1.65 cr

    flat:
    carpet 2700, saleable 3510 at 5500 (which is the rate at regency cosmos, 2 km further down on baner road) = 1.93 cr

    stamp duty etc. may work out to be same more or less. you wont pay extra for parking or be overcharged for legal/MSEB.

    also maximum height is 30 feet (not 30 m).


    I have been saying this repeatedly (to everyone who can afford to buy property which costs 1-2 Cr Rs ), that why don't you go to any developed country and get settled there with that much money. Two days ago my friend was telling me that his best friend has bought one bungalow in US for 1.5 Cr Rs (obviously he has to take loan for that because unfortunately US citizens are not as rich as people in Pune). And people in Pune are buying 4BHK duplex in Wakad (in Pride Purple Group) for 2.5 Cr Rs. Pune is much richer city that any city of America.
    CommentQuote
  • Originally Posted by BlotJab
    I have been saying this repeatedly (to everyone who can afford to buy property which costs 1-2 Cr Rs ), that why don't you go to any developed country and get settled there with that much money. Two days ago my friend was telling me that his best friend has bought one bungalow in US for 1.5 Cr Rs (obviously he has to take loan for that because unfortunately US citizens are not as rich as people in Pune). And people in Pune are buying 4BHK duplex in Wakad (in Pride Purple Group) for 2.5 Cr Rs. Pune is much richer city that any city of America.


    i believe there is already another thread discussing cost vs std of living in the major indian cities compared to some western economies. that might be the right place to discuss your views on the matter. which i, incidentally, sympathise with.

    pls don't hijack this thread - it is meant to discuss the baner bungalow plots proposal exclusively
    CommentQuote
  • Originally Posted by UncleTom
    i believe there is already another thread discussing cost vs std of living in the major indian cities compared to some western economies. that might be the right place to discuss your views on the matter. which i, incidentally, sympathise with.

    pls don't hijack this thread - it is meant to discuss the baner bungalow plots proposal exclusively


    I apologize if I hurt you, however I just wanted to say my opinion. Why one should pay 100 Rs for the thing which worth 10 Rs.
    CommentQuote
  • Originally Posted by BlotJab
    I have been saying this repeatedly (to everyone who can afford to buy property which costs 1-2 Cr Rs ), that why don't you go to any developed country and get settled there with that much money. Two days ago my friend was telling me that his best friend has bought one bungalow in US for 1.5 Cr Rs (obviously he has to take loan for that because unfortunately US citizens are not as rich as people in Pune). And people in Pune are buying 4BHK duplex in Wakad (in Pride Purple Group) for 2.5 Cr Rs. Pune is much richer city that any city of America.


    You think everyone has charm of leaving India and settle down in developed countries. Will one be able to get equivalent/better job there easily? Will a businessman be able to start business there easily?
    CommentQuote
  • Originally Posted by UncleScrooge
    You think everyone has charm of leaving India and settle down in developed countries. Will one be able to get equivalent/better job there easily? Will a businessman be able to start business there easily?

    Even when they have option to live abroad they could choose to live in India.
    CommentQuote
  • Originally Posted by UncleScrooge
    You think everyone has charm of leaving India and settle down in developed countries. Will one be able to get equivalent/better job there easily? Will a businessman be able to start business there easily?


    What do you want? do you want to earn more and more money and don't want to enjoy life? I said that people who are rich ( having more than 2 Cr Rs) should live their life like people do in developed country. Today in Pune, you don't how many things are adulterate/ duplicate (from milk to medicine). Common man like me (and their children) use these things and we live like people are supposed to live in developing economy. I am just suggesting to the rich people if you can afford to buy 2 Crs flat/plot then why don't you go to developed country and enjoy your file there with your children, why you are here and making things complex.

    By the way, starting new business (if you have money and idea) is much much easier in developed country then in India. And as far as job is concerned, mere bhai if anyone is doing job in India and earning enough money to buy 2 Crs plot/flat then it means he has enough capabilities to get the job in developed country.
    CommentQuote
  • Originally Posted by BlotJab
    I apologize if I hurt you, however I just wanted to say my opinion. Why one should pay 100 Rs for the thing which worth 10 Rs.


    as someone said please don't use this thread for emotive discussions....there are plenty other places on this forum to discuss those.....this is a good thread with objective factual information.....
    CommentQuote
  • Originally Posted by realbee
    Even when they have option to live abroad they could choose to live in India.


    Yes it is true, but the reasons will definitely be very strong (personal or social) so that you have agreed to compromise on other things
    CommentQuote
  • Great area. But isn't there a flooding problem there? Lat year I remember there was a flood that submerged some houses and flats. Is it on high land? Pallod farms?

    People will pay a premium for this location but psf I can't imagine the premium being > Rs. 500. A fair price in the area for clear land is Rs.3000. Even with my premium call it cannot be Rs.4000psf + registration + cost of internal roads + brokerage. A good quality construction will cost somewhere in the vicinity of Rs. 2000psf. Still a great deal if a 4000sft plot can be bought for a total 1.3~1.4 Cr.
    CommentQuote