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2 BHK 5055 Lacs wakad PS Balewadi suggestions

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2 BHK 5055 Lacs wakad PS Balewadi suggestions

Last updated: April 13 2012
26 | Posts
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  • #11

    #11

    Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

    My experience: 3 years back we formed a group of 5 and went to negotiate with Dewdale and Sonigara Kesar wakad. Initial price qouted by builder was 2650 and 2700 psf. We managed to bring them down to 2400 and 2500 psf, but none of us could book the flat.
    Reason: Disagreement on Flat selection. Everyone wanted best flat in building as per vastu and with garden view, no one was ready to compromise. And then group broke to 3 people but later builder refused to give negotiated price.

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    • #12

      #12

      Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

      Originally posted by erabhijeet View Post
      Thanks RealAcres,

      Puser : we have to increase our budget or need to wait for a good correction to get a house in mentioned area with the budget of 2009.
      I have been trying to understand how people are looking to do "jugaad" for one of very important proejcts of their life - buying a home for self use at currently asked price levels. Hope to get some responses that are representative of current thinking like people from group of 30 or whatever you have mentioned.

      Without revealing personal details, can you give rough break up of where 50 Lac will come from? Answers for each item can be Current Saving, breaking current investments, loan amount (and tenure), % of in hand salary that will go out for EMI etc. so we understand the source of budget.

      - What is your current age range or since how many years you have been earning (avoid huge diff like 25 to 35 as it means a lot of difference in financial condition of person)

      - What carpet area and terrace areas you are thinking you may be able to buy with above budget (min i.e. as per builder asking price, better with your hope to get some discount)

      - How you plan to pay booking amount? (what is current range - 1 to 3 lacs? or more?)

      - How you plan to pay amount needed for builder to go ahead with agreement? (Upto 15 % to 20% of all-inclusive cost minus booking ?). Banks are now not allowed to include Registration/Stamp Duty/ST/VAT while considering total price on which they will calculate 80 % or 85% or whatever they agree to give loan for.

      - How you plan to pay installments for next 12 to 18 months (assuming that is the max. possession horizon).

      - What assumptions you are making about acceleration in your earning as you repay EMIs (salary revisions/saving by going abroad) etc. And if those do not happen, then what scenario do you see?

      - What savings do you expect to have in hand other than the house at the end when you have paid off entire loan.

      Essentially, I am looking to understand what are the key factors or ace cards (if any) that will back you when you are required to go with such a high budget and sustain for at least 15 years, if not 20 (or may be it is 20, lets find out).

      Really appreciate people giving genuine responses (as some real estate ads say, brokers excuse )

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      • #13

        #13

        Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

        Please add me to the group buy as well. Interested in apartments in Wakad and Balewadi.

        thanks
        Ram

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        • #14

          #14

          Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

          Originally posted by StillSearching View Post
          My experience: 3 years back we formed a group of 5 and went to negotiate with Dewdale and Sonigara Kesar wakad. Initial price qouted by builder was 2650 and 2700 psf. We managed to bring them down to 2400 and 2500 psf, but none of us could book the flat.
          Reason: Disagreement on Flat selection. Everyone wanted best flat in building as per vastu and with garden view, no one was ready to compromise. And then group broke to 3 people but later builder refused to give negotiated price.
          LOL
          First you want in discount at group byuing and then be choosy over the flat.
          To deal with this, message of "beggars are not choosers" should be ingrained during group formation.
          Lets start.
          ramgopr. how flexible are you with the vastu etc :-)

          Anyway "Still Searching" seems to be a good movie title for the curret RE scenario.
          Similar hindi movie was made 3 decades back "Shahar aur Sapna".
          In one instance they show 22 people were sharing the same house and in contrast one seth had 11 houses , each one having 22 rooms in them.
          Last edited March 13 2012, 10:51 AM.

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          • #15

            #15

            Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

            Hi Compuwala,

            I really have to stretch my budget to find a decent house in 45 - 50 L range, thats why we have formed a group so that we can bring down builder in this range.

            Regarding budget and arrangements, i will be able to manage this but i know that wakad is not worth more then 40L for 2 BHK but i guess if i have to buy i have overpay or wait, we cant say how much we have to wait for prices to correct by 20 % - not looks in near future.




            So please suggest me some good project 2 BHK - 40 Lacs, or tell me should i wait or buy ??

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            • #16

              #16

              Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

              buying 50 lakh in good area with no issue of accessibility/conveyance + water + neighborhood is good as long as it is ready possession. i can pay 40 lakh (although preferably 35) for 2 bhk in a relatively distant area but with no issue of water and good neighborhood for ready possession only.

              Guys, if you're all planning for underconstruction purchase with 50 lakhs sum, note that underconstruction property has lot of variables. in fact if you're first time buyers and buying for self occupation, please go for ready possession only! even i have joined a group of ra.one but i plan to resume house hunt post april.

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              • #17

                #17

                Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

                Originally posted by erabhijeet View Post
                Hi Compuwala,

                I really have to stretch my budget to find a decent house in 45 - 50 L range, thats why we have formed a group so that we can bring down builder in this range.
                I have nothing against that. What I was trying to say is to choosing the members who are really serious about it. You cannot have your cake and eat it too. Just falling out of group since some bedroom was 15 degree off the north east compound wall of neighbour ... the group is going nowhere.

                Originally posted by erabhijeet View Post
                So please suggest me some good project 2 BHK - 40 Lacs, or tell me should i wait or buy ??
                Its your personal choice you have to make. Noone can advice you on that. But basic guideline (which has worked well so far), if you have capacity and means, buy it. Do not bother whether prices move up or down. Its after all your basic need. Price going up or down is botheration for people for whom the budget of out of reach or are investors (second/third time home buyers) or who are equally happy to stay in rental house (which is always a good thing in India as rental are affordable than EMI though not over long term so you have to bite the bullet sooner or later). On the other hand if the house has less meaning for you, but buying at some price target gives you more satisfaction, then its waiting game in front of you and for growing economy like India, have real good patience . Learn from few bears who have been hanging around here since 2007 with single Mantra. Even a broken clock is more accurate than their prediction (as its right at least twice a day).

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                • #18

                  #18

                  Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

                  Originally posted by erabhijeet View Post
                  Hi All,

                  We are a group of people looking for 2 BHK in Wakad, PS, Balewadi.

                  our requirement is -

                  1. Area ~ 1100 sq ft
                  2. Amenities - Premium
                  3. Possession - No late then 1.5 yrs from now
                  4. Price - 50-55 L (All inclusive)

                  I know there are other threads also but not specific to this budget range. Please share you inputs, as this is a requirement for the group not for individual.
                  In case you are interested in resale, you may want to have a look at Kirti Elegant 2 which is besides the Balewadi Stadium. (If coming from Baner towards the Mumbai highway keep on going straight instead of taking a right turn next to Sadanand Hotel. It will be on your left about 100 meters or so from the highway.) The society is premium and construction quality is quite good. You may find a 1050 Sq feet 2 BHK for about 45 Lakhs.

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                  • #19

                    #19

                    Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

                    Dear members,

                    I was reading the blogs on this forum and got to know many good things. If some of you guys are going for "group booking" (for 2BHK, 850+ carpet area and budget under 50L) in wakad, balewadi etc, please add me and 2 of my close friends also in the list.

                    I can be reached at manaschy@gmail.com

                    Warm Regards,

                    Manas

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                    • #20

                      #20

                      Re : 2 BHK 5055 Lacs wakad PS Balewadi suggestions

                      how about park street?

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