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Kolte Patil Nora Plots in Hinjewadi, Pune

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Kolte Patil Nora Plots in Hinjewadi, Pune

Last updated: 3 days ago
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  • #11

    #11

    Re : Kolte Patil Nora Plots in Hinjewadi, Pune

    Although it sounds promising from future perspective, after a lot of deliberation we decided to skip it.

    1. We went to PCMC office to check GD status. Currently there is nothing happening on Punawale Garbage Depot front, but its not yet officially cancelled. If it comes up, everyone around is screwed big time. These plots are just next to planned GD in front of GK Rose Aster.

    2. The builder has a lot of his own rules regarding construction, like it should be done in certai time frame, should be certified by their architects, etc.

    3. Price is high. Similarly priced NA plots in properly developed Bavdhan make sense instead of underdeveloped Punawale.

    4. Security is a concern at the moment and will remain so, at least for 5 years. At night go to the plot location. You feel peacefull but scared. Or you can even go to their existig Bungalows. It feels secluded. LR township overall doesn't feel safe at night if you have a family.

    5. In last 4-5 years, prices haven't appreciated in Life Republic flats and neither in ther bungalows.

    If the GD doesn't come up then 4-5 years down the lane, the appreciation, benefits will be high. But at the moment its a big risk for a very big investment.


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    • #12

      #12

      Re : Kolte Patil Nora Plots in Hinjewadi, Pune

      Hi All - Did anyone booked a plot in Life Republic R17B sector? Please suggest if it is a good option for first time home buyer.

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      • #13

        #13

        Re : Kolte Patil Nora Plots in Hinjewadi, Pune

        Originally posted by Rashmi_mavlankar View Post
        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
        Hi All - Did anyone booked a plot in Life Republic R17B sector? Please suggest if it is a good option for first time home buyer.

        Comment

        • #14

          #14

          Re : Kolte Patil Nora Plots in Hinjewadi, Pune

          Buying plots is always risky. High gestation, high risk and high returns. In this case , it looks like the returns for the next 5 years are baked in the selling price.

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          • Sachin142
            Sachin142 commented
            Editing a comment
            Agree but there is no supply of plots in the area. This one is from a reputed builder without any legal complications that make me think to buy it. Anyone out there who bought the plot in LR Township?
        • #15

          #15

          Re : Kolte Patil Nora Plots in Hinjewadi, Pune

          You are very true. Flats cannot be sold straight away due to slow down in demand/pandemic. That is why Kolte Patil is going for plot schemes, it appears to be. as selling the plot is much easier than selling flats due to numbers.

          Comment


          • kumarpraveen
            kumarpraveen commented
            Editing a comment
            LR itself is flop project. I remember way back in 2011, they quoted 60 lacs for 2bhk all incl. Its still the same or even less in some cases. So people who have invested, its a dead investment. Had the same money kept even in FD, would have fetched far superior returns. I still wonder how people are thinking that they can expect returns?
        • #16

          #16

          Re : Kolte Patil Nora Plots in Hinjewadi, Pune

          Investing in Hinjewadi in PCMC boundary limits is not a great Idea. People may live due to their preferences. Somehow PCMC is not good in developing the city. It was developing the city like a village earlier in 1980s and still after 40 years, the development standard is not that significant.

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          • #17

            #17

            Re : Kolte Patil Nora Plots in Hinjewadi, Pune

            Does someone know what is Perpetual Lease on plots? Is it advisable to buy plots on this kind of Lease? Sorry for my ignorance, but wanted to get things clear. I am not an expert in real estate.

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            • #18

              #18

              Re : Kolte Patil Nora Plots in Hinjewadi, Pune

              Do you see any potential for any appreciation in the prices? Prices in Hinjewadi as a whole is been in stagnation for almost 10years now. Can you name any 1 property which has appreciated at reasonable levels in Hinjewadi Phase 1/2/3 ? Even in terms of rental, due to oversupply the rents are very less as compared to other parts.

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              • #19

                #19

                Re : Kolte Patil Nora Plots in Hinjewadi, Pune

                Also plot value will appreciate only when the area is developed or if there is cope for development. When there are so many flats unsold, why would plot value increase? In terms of infra development, i am working in Hinjewadi for the past 15+ years and i dont see any change what so ever. Flats in Phase 1 itself are lying unsold. We are taking about plots which are almost 5+ kms from Phase 1.

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