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Please guide a newcomer to Pune...I thought this forum was full of helpful folks..guys please adviseCommentQuote0Flag
- Originally Posted by prop_newbieHi All,
Please guide a newcomer to Pune...I thought this forum was full of helpful folks..guys please advise
Looking at your constraints (budget and ready for possession), you may go for resale properties (10+ year old) in areas like Pimple Saudagar. You may get rent upto 8K (depending upon the location, but definitely above 6K).
However if you take my suggestion, don't invest your 20-25L in RE at present.CommentQuote0Flag
- Originally Posted by prop_newbie:bab (6): Hi Guys,
I am new to Pune & want to invest around 20-22 lacs. I guess I can only manage 1 BHK in this. Could you please suggest best location & project for future appreciation & present rent? Also I am looking for ready for possession options only.
is this for self use? if not then RE returns are not guaranteed....anyway with that budget you need to go far on the outskirt of Pune even for 1 BHK.
many here believe that there will be severe RE correction in coming months. So you may want to wait for that event to occur.
I've been waiting for that event for past 2 years to deploy my cash. So feel free to join the club.CommentQuote0Flag
- If you can stretch your budget to 25 lacs you can buy resale 1 bhk in most of areas of pune. I ran a search on 99acres found 2 properties in AUNDH listed at that price.CommentQuote0Flag
- Originally Posted by anildcIf you can stretch your budget to 25 lacs you can buy resale 1 bhk in most of areas of pune. I ran a search on 99acres found 2 properties in AUNDH listed at that price.
be careful...these may be too old properties or a trap from agents to get you talking to them....or it may be 400 sq ft rat hole....CommentQuote0Flag
- Sitting on cash strategy
I was in Delhi earlier & starting 2008 there were indications of property correction in NCR. In my observation, the correction was not more than 10% in good locations, the rates did stagnate for a while though & started going northward in 2010. They did not look back since then. I am not sure whether the same thing will happen in Pune or not. but everyone is talking about an impending correction in Pune RE market. Steep correction, I doubt at least in places like Baner, Wakad, PS, Hinjewadi Ph-1 & Hadapsar, unless there is a severe economic turmoil, but stagnation is possible. What do you guys feel?
Are there any ready possession options in the areas I mentioned within my budget?
- You can only look for resale flats in this budget and area.. You can try Hinjewadi/Hadapsar though for a new flat..But in other places it wont be less than 30L...CommentQuote0Flag