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Where to buy a plot -- Marunji OR Maan, Pune

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Where to buy a plot -- Marunji OR Maan, Pune

Last updated: October 26 2018
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  • Where to buy a plot -- Marunji OR Maan, Pune

    Team,

    I'm planning to buy plot (2000 sq.ft) for an investment purpose, where I can construct 2 to 3 floor building and give it on rent. And for that I would like to have suggestions from the experts-

    I have below 2 options:

    A. Maan Goan-

    1. I'm planning to buy NON NA plot (Agriculture/ Sheti Na Vikas zone) in Maan goan (approx. 2 kms from Hinjawadi Phase 1).

    2. Developer quoted me around 13 Lacks per guntha.

    3. This plot is within 5 km radius of PCMC boundry and already have survey no. for it, hence I can get individual 7/12 as well as individual sale deed on my name.

    4. Also, PMRDA has decided to construct ring road as well TP road (Maan- Mhalunge) near PMRDA's first town planning skim. This plot is exactly in between PMRDA's TP road (or say PMRDA boundary- within 200 meter)and ring road (within 500 meter).

    5. This place is defiantly going to be R zone in future as its very close to PMRDA's residential zone (200 meter only).

    6. But there isn't any development yet and PMRDA is currently working on the road construction, which may take approx. 1 -2 year for completion.

    7. Currently its near phase 1, but in future phase 2-3, balewadi will get connected easily via ring road.

    8. Investment & returns are less. But down the line 3-4 years there are high chances of becoming R zone and having good neighborhood (PMRDA'a first TP skim - within 2 kms)



    B. Marunji Goan-

    1. Another option I have is to buy plot near Laxmi chowk (within 3 km radius from Laxmi chowk)

    2. Developer quoted me around 20 Lacks per guntha.

    3. This plot is already in Mid-Developed area where Main road is within 500 meters of plot. Connectivity is much more easier (Towards Wakad, Hinjewadi phase 2 as well as Somatne Phata).

    4. This area is already having so many unauthorized constructions of hostels and owners are getting high returns.

    5. Feels more risky but also having high chances that it will get regularized once Marunji will be part of PCMC.

    6. Investment is high but returns are much better as compare to first option.

    Please share your inputs which option is more better between A (Maan) & B (Marunji).


    PS-

    - I already know bank won't give loan for Non NA plot.

    - Legally I can construct only 4% of the plot as its agriculture land but practically we can build (G+2 or 3) floor building.

    - Developer already have all the required documentations clear.

    - There will be internal road of 20 ft. Each plot owner has to give 10 ft. space and another 10 fat will be given by developer or opposite plot owner. For e.g., plot size if 50(H)x40(L) then I will give 40x10=400 sq.ft. for road. Thus, I will get 1600 sq. ft. After leaving space (3 ft. each side) from all the sides, I can build approx. 1100 sq.ft

    Thank you !!
    Last edited October 23 2018, 09:19 PM.
  • #2

    #2

    Re : Where to buy a plot -- Marunji OR Maan, Pune

    Generally you have to be very very cautious in land deals especially non NA plots. But if you have weighed the risks and checked legal documents and are satisfied, Mann plot looks better poised right now.. marginally though.

    Comment

    • #3

      #3

      Re : Where to buy a plot -- Marunji OR Maan, Pune

      Both proposals are risky from more than one perspective.

      1. if buying a plot, constructing illegally on it, and renting it out, were that lucrative - all IT folks from Hinjewadi would have left their jobs and done that.

      2. PMRDA demolishment drive is in full swing. Don't assume that you will be spared (unless you have political connections).

      3. As per new process, even if illegal construction is not demolished, a criminal case is lodged against you. That will spoil your record and you may face difficulty in getting passport and visa (if you are an IT guy).

      4. There are enough goons operating in both these areas. When (and if) your plot makes blockbuster appreciation, you can expect the goons to grab it.

      5. don't take decision based on random people posting on blogs. Consult a legal advisor, and also people who operate in RE in that area (like architects and contractors). Afterall, its your money and your life.

      Comment

      • #4

        #4

        Re : Where to buy a plot -- Marunji OR Maan, Pune

        And legally, the 4% rule is for total carpet area. It does not mean you can construct any number of floors on 4% of the land.

        Comment

        • #5

          #5

          Re : Where to buy a plot -- Marunji OR Maan, Pune

          Having lived 5 years N. of Pirangut and 4 years in Hijawadi, traversing that road everyday, and familiar with both villages, I'd go with Maan based purely on location. It is closer to the river (think water) and will offer better access to Balewadi/Baner once roads/bridges are complete (think appreciation). It is agricultural, so if you get a collector NA and PMRDA approvals for construction, that will cost an additional 5-7 lakhs. Also, check with PMRDA for setback rules if you go ahead with the NA, 3 ft doesn't sound correct. But then, if you are planing to go the illegal route, then it doesn't much matter. Higher risk, but also higher returns...imho not worth the risk. Lastly, you and the opposite plot owner each contributing 10ft for an internal road makes this developer sound shady. The effective price jumps to 16.25 lakhs.gunta for the final plot, which is way too much. A 1600sf plot is tiny. Is he including a light connection? Water connection? Fencing? All in all, I'd say keep looking, maybe try some some commercial spaces coming up, which are available for ~30L. Good Luck!

          Comment

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