Announcement

Collapse
No announcement yet.

Kolte Patil Nora Plots in Hinjewadi, Pune

Collapse
X
Collapse

Kolte Patil Nora Plots in Hinjewadi, Pune

Last updated: 18 hours ago
22 | Posts
1684 | Views
  • Time
  • Show
Clear All
new posts

  • Kolte Patil Nora Plots in Hinjewadi, Pune

    Hi Punekars,

    Recently I have visited the Kolte Patil Life Republic to check their plotting scheme called Nora following are the details.

    1. They are leasing the plots for 999 years

    2. Rates are 4150 psf ( inc. clubhouse, gym play area etc.); FSI is 1 ( G. floor +2)

    3. Possision is in 18 months from now

    4. Near newly launched Arezo



    Overall I am in positive side although scope of negotion in rate is there. Would like experts' views on following:

    1. is the price justified?

    2. Investing in plot within gated community like life republic is safer as compare to investing in plot

    3. how much would it cost typically to build 1500 Sf. building (G+1) . I can rent out the first floor and stay in ground floor



    Please share your valuable views as I am seeking your opinion and advice

    Last edited October 24 2019, 02:52 PM.
  • #2

    #2

    Re : Kolte Patil Nora Plots in Hinjewadi, Pune

    Did they give you price list according to their plot size? Can you please share.

    Comment

    • #3

      #3

      Re : Kolte Patil Nora Plots in Hinjewadi, Pune

      Price shows as 70l starting f0r 1600 sqft plot. Not sure if the high price is justified.

      Comment

      • #4

        #4

        Re : Kolte Patil Nora Plots in Hinjewadi, Pune

        When it was in prelaunch, i visited the site. They quoted me 53 Lacs probable price. There was nothing at that time. No RERA, no map, no plotting and nothing at site.

        Then One day they prepared Map, and sent me. Price went up to 57 Lacs. note that it is not in RERA Yet.

        On Launch Day, 2-3 people from KP called me and asked to visit. All were quoting different price. Ranging from 65 Lacs to 89 Lacs.

        and this helped me made my decision to stay away as it is nothing but foolishness to go for such high price when the area will itself take atleast 5 yrs to come up.



        And all of the above events happened within the span of 10 days.

        Last edited October 25 2019, 10:20 AM.

        Comment


        • kumarpraveen
          kumarpraveen commented
          Editing a comment
          Agree...apart from the price..there is a huge over supply of flats in and around Hinjewadi. Price appreciation is highly unlikely.

        • Rashmi_mavlankar
          Rashmi_mavlankar commented
          Editing a comment
          Thanks Buddy....Just to continue discussion, I have checked the RERA site and now Nora has completely registered under RERA. As far as cost is conceren, I am thinking in little different way.
          If I buy 3 BHK 1250 sqf flat in Punewale it is going to cost me nearly 80Lakh to 1 cr. where as in this project if i buy 1800 sqf plot in nearly 80 Lakhs and buid the G+2 building in another 30-35 Lakhs I can stay in G+1 and give 2nd floor on rent.
          Would like to know from seniors like you that what is flaw in my hypothesis....Please share your views
      • #5

        #5

        Re : Kolte Patil Nora Plots in Hinjewadi, Pune

        Thanks Buddy....Just to continue discussion, I have checked the RERA site and now Nora has completely registered under RERA. As far as cost is conceren, I am thinking in little different way.
        If I buy 3 BHK 1250 sqf flat in Punewale it is going to cost me nearly 80Lakh to 1 cr. where as in this project if i buy 1800 sqf plot in nearly 80 Lakhs and buid the G+2 building in another 30-35 Lakhs I can stay in G+1 and give 2nd floor on rent.
        Would like to know from seniors like you that what is flaw in my hypothesis....Please share your views

        Comment


        • maddy_117
          maddy_117 commented
          Editing a comment
          Theoritically its a nice plan. But i consider that you plan to build and live there. You need to see surrounding localities and is it in liveable condition now. Whereas 3 BHk you are talking about is in good locality.

          In my view price is very high considering the location of the plots and current state of site. It will take atleast 5-7 years for the area to come up. I had visited LR township in 2011 and its been 8 years since then i dont see the kind of growth and price appreciation which was shown at that time. We haven so many examples here in this forum where people have invested for years and things didnt go as planned.

          if you are willing to spend 1-1.5 Cr then i believe you can easily get good row houses in established area's like Wakad, Pimple Saudagar and other PCMC area's. Rest is your call depending on various factors.

          Note: I consider that you have done site visit and then doing comparision.
      • #6

        #6

        Re : Kolte Patil Nora Plots in Hinjewadi, Pune

        Anyone invested here? If yes, what rate can we expect and what are the pros cons? I am considering this but concerned about garbage depot and security issues.
        Last edited November 11 2019, 07:32 AM.

        Comment

        • #7

          #7

          Re : Kolte Patil Nora Plots in Hinjewadi, Pune

          Not sure why sales team is giving different info to different people. I had visited yesterday (10/Nov) and they told me that possesion will be given in 7 months from the date of booking and price starts from 85 Lacs !! and construction must be done within 2 years from possession date. Price seems very high.

          maddy_117 could you please tell us when was this launched ? 2010 ?

          Anyone booked already ? Could you share more info ?

          This area is going to take another 15 years to completely develop.

          Biggest concern I have is looks like this plot site is VERY close to proposed garbage depo. Anyone noticed this ?

          Last edited November 11 2019, 11:49 AM.

          Comment


          • maddy_117
            maddy_117 commented
            Editing a comment
            Although LR township is launched somewhere in 2010-2011. but this NORA NA plots are launched 1-2 months back only.

            Not sure about other aspects such as Garbage depot. but it seems one more user pointed this out so should be a valid concern. may be you can check with Sales team directly.

            Could you please tell me what is the plot area for which they are quoting 85 lacs?

          • mgkuber
            mgkuber commented
            Editing a comment
            Based on the master layout plan that I saw there It appears that Garbage Depot will be just 5-10 mins walk from this site. Request other interested people to validate and confirm this. I can't see myself living in a beautiful bungalow and getting suffocated due to bad smell all day and night. Looks like Kolte Patil sales team gets incentives based on amount per deal they close thats why they quote different price to different customers. they quoted 85 lacs for the smallest unit 165 sq. meter.

          • Rashmi_mavlankar
            Rashmi_mavlankar commented
            Editing a comment
            1. I have checked the RERA site and per RERA and their date of possesion in Mar 2021 although Sales person is claming the possession by Diwali 2020. For safer side, I am assuming that possiesion is Mar2021 only.

            2. In the base price they are adding the 5Lakh ( One time Township Devlopment Charges) and 2 Lakhs ( for 2 Year Maintenance). When i visited last time 2 weeks back they were ready to come down by 81 Laks ( Inc. both the maintenance)
            3. I checked the Garbage depot issue as well...now I am thinking in two way i.e. By looking the peoples living there and devlopment happened in that area, at first place there are very less chances that garbage depot will come there. In fact from last 3-4 years there is not even a single news that depot is going to be there. On second term, if lets assume that garbage depot is going to be there, it is not going to be open garbage dumping area. It will be STP only I dont think that issue will be there for the peoples will be living in the KP Life republic

            Views and opinion from Expert and Experienced People as I am very junior in this field.
        • #8

          #8

          Re : Kolte Patil Nora Plots in Hinjewadi, Pune

          Area 1776 sq ft

          price 76 including taxes

          township maintenance 5 lacs onetime which is applicable to everyone including flat. flat will have less onetime township maintenance. Maybe around 2-3 lacs.

          Plot sector maintenance 2 lacs for 2 year

          total 83 lacs.

          price sounds tooo high for that area.

          if we consider prices of flats around that area like 80 lacs for 3bhk in puneville, siddhasheela eela etc then plot price sounds high instead of too high.

          Comment

          • #9

            #9

            Re : Kolte Patil Nora Plots in Hinjewadi, Pune

            I went to punavale to see current status. Looking at the development there, it seems difficult for PCMC to set up a Garbage Depot Now. but since pcmc has already paid for that land i just hope they dont insist on using for GD.


            want to rectify one myth though. Even though it's sanctioned as a Solid Waste management project, it eventually gets used for dumping.
            Fursungi GD was also initially sanctioned as SWMP with huge facility for swmp. and it eventually ended up as dumping ground.

            for reference - https://youtu.be/6EfXR1sVWQM




            Rashmi_mavlankar Did you book? Pros - cons that made you book or not book? at what rate?

            Comment

            • #10

              #10

              Re : Kolte Patil Nora Plots in Hinjewadi, Pune

              Is it good for investment (horizon 5-7 years) or for end use (similar time span)?

              Price quoted- 4300psf.

              Please share your views / advicee

              Comment

              Tags: None
              Have any questions or thoughts about this?
              Working...
              X