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Mantra Monarch in Balewadi, Pune

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Mantra Monarch in Balewadi, Pune

Last updated: 2 days ago
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  • Mantra Monarch in Balewadi, Pune

    Hi Guys,

    I am thinking to buy 2 bhk in Mantra Monarch Properties, Balewadi. 789 Sq Ft carpet. Possession will be in Dec 2023.

    The pros is the location i.e Balewadi and also the carpet is good.

    Mula-Mutha River flows from behind the property. Sales team said distance from river is 400m. Looking at 2019 pune floods, should i be concerned about this?

    Also should i go for under construction property and wait till 2023 ?

    Please suggest should i go for this project ?
    Last edited August 7 2020, 04:04 PM.
  • #2

    #2

    Re : Mantra Monarch in Balewadi, Pune

    Why do you want to buy a property whose possession date is after 3 years. On rera it is Sept 2025. What happens if builder decides to delay possession after delivers in 2025. So for 5 years you will pay PEMI (I am assuming you will take loan)

    Dont get fooled with there offer wherein they will pay you 8% for 2 years on your EMI. 2 years they will take for only plinth. Its a gimmick. As the builder has to pay from his own pocket a couple of thousands bucks the payments schedule will be very less intially and then more at later stages. Meaning he will charge 10-15% max for 2 years and then he will demands more amount at later stages wherein he will not pay the interest.

    Its a big risk man. Assuming you book flat for 70L. By the time you will get possession you will pay 10-15L extra only in interest. Instead you wait for 3 years, save money and buy ready possession or near possession(6-12 months left) it makes sense. Even if you buy a property of 80-85L that time it still makes sense as you would have accumulated that amount.

    Sales guys wont give a damn to you once you book flat. Trust me. I have experienced this 2 times. Very Very rarely builders stick to there word.
    Sales guy will be different in 6 months. For any issue you will have to follow up.

    Check mantra track record on this forum. Its a risk. DONT take it.

    Last edited August 7 2020, 07:22 PM.

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    • #3

      #3

      Re : Mantra Monarch in Balewadi, Pune

      In current situation, you are thinking of buying property whose possession is 3 years away is simply amazing. I am sure there are good number of apartments available with ready possession and you still want to buy under-construction?

      I think, you have already made your mind and asking others just for moral support. Its your money .. you decide.


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      • #4

        #4

        Re : Mantra Monarch in Balewadi, Pune

        Hi,

        ​​​​​Can you please share the price for 2bhk 789sqft? Am exploring projects in that area and would like to consider this as an option.

        Thanks

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