Hello,

I am planning to buy 2 bhk flat in Supreme Palms at Baner Balewadi Road.
I am totally new to this area and would appreciate feedback (positive as well as negative) from anybody who has either invested in this property or studied investing in this property.

Thanks
Makarand
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  • Refer to RBI report

    Refer to RBI Macroeconomic Report,

    Home loan disbursements are down by 40 % compared to previous years.

    In 2006-2007 Banks disbursed Home loans worth 46000 crs.

    In 2007-2008 Banks disbursed home loans worth 26000 crs only.
    This market may be crashed in near point.

    Hence if you do not want to get fooled then stay away from market.

    Regards
    Sandeep
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  • Supreme Palms Phase 2

    Supreme Palms has launched Phase 2 (i.e. building F), but the asking rate is 6000 psf. I think this is too much a price for balewadi, even for supreme's projects.

    Any opinion/views?
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  • This is current rate is balewadi..surprising supreme is asking the same rate...other builders are also asking for the same price which cant match supreme quality...
    Originally Posted by mittalmk
    Supreme Palms has launched Phase 2 (i.e. building F), but the asking rate is 6000 psf. I think this is too much a price for balewadi, even for supreme's projects.

    Any opinion/views?
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  • @manu - maybe Supreme is seeing the writing on the wall....
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  • Balewadi prices

    @manu: I don't think the current rates in balewadi are to the tune of 6K. I have visited several projects in Balewadi over the last two months and the prices quoted are as follows:
    Vatika: 4800
    Orvi: 4785
    Gini Viviana: 5100 (from 25th March)
    KSquare: 5500
    Golden Trellis: 5250
    Vasudha Parnika: 5500
    Palladion: 5400

    All these are quoted prices by the builder. Needless to say, all or most of them have shown willingness to negotiate on these prices, on providing the slightest hint of being a potential buyer. Apart from 43 privet drive (and now Supreme Palms), I don't think any other project in balewadi is asking for 6K.
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  • I had visited balewadi projects in March end and what I found was all builders were ready to negotiate.I agree Supreme is asking too much...
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  • Resale apartments in this area are all selling for more than 6000, in some cases 6500. So I don't see why the rates for new bookings won't reach 6000. Just a matter of time.
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  • Originally Posted by pnq2012
    Resale apartments in this area are all selling for more than 6000, in some cases 6500. So I don't see why the rates for new bookings won't reach 6000. Just a matter of time.

    If thats the case, why are builders doing charity by selling at below market rates ?? Till date, I haven't come across any project in Balewadi (including Willows) which sold at such high rate.

    And as PMC has said that it won't provide water here i.e. Baner, Balewadi; it is absolutely useless to buy one here.
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  • Originally Posted by mittalmk
    Supreme Palms has launched Phase 2 (i.e. building F), but the asking rate is 6000 psf. I think this is too much a price for balewadi, even for supreme's projects.

    Any opinion/views?

    I was quoted 6500 baserate and 50 floor rise from 2nd floor. Rate went up in 2 weeks or what?
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  • Originally Posted by Muddat75
    I was quoted 6500 baserate and 50 floor rise from 2nd floor. Rate went up in 2 weeks or what?


    Its one of the premium projects in the area....no surprise
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  • Originally Posted by RP Pune
    Its one of the premium projects in the area....no surprise


    lol
    Premium Project.. i have seen so called premium projects like Supreme Palms, Vascon Willows..in that Area...
    they are rip off...essentially this are a construction sites and they keep dragging projects for the greed..

    if you have money to buy in this premium project..i will say please dont..instead go for ready to possession flats in decent society..which is completed not like under construction ..
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  • Does anyone know how is it for buying used property? What is the best way to calculate the price - is it by carpet area or built-up area?

    When new builders are charging 6000+, I'm assuming that it is on the carpet area. Does the same rate apply when buying used property? Or is it typically lower?
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  • Originally Posted by realacres
    If thats the case, why are builders doing charity by selling at below market rates ?? Till date, I haven't come across any project in Balewadi (including Willows) which sold at such high rate.

    And as PMC has said that it won't provide water here i.e. Baner, Balewadi; it is absolutely useless to buy one here.


    Supreme palms already have 5 building in that compound. You are saying they do not get PMC water as of now. I am bit confused at this point. I stay in Baner and have been regularly receiving PMC water without any issue and i was under the assumption that same is the case with Balewadi specially when the society is established way back.
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  • Originally Posted by pnq2012
    Does anyone know how is it for buying used property? What is the best way to calculate the price - is it by carpet area or built-up area?

    When new builders are charging 6000+, I'm assuming that it is on the carpet area. Does the same rate apply when buying used property? Or is it typically lower?


    All the charges any builder mentioned is as per Saleable area and not carpet area. Saleable also include Terrace area which is consider 100 % now a days only with no loading. Even 6000+ amount are on saleable only.
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  • Originally Posted by pnq2012
    Does anyone know how is it for buying used property? What is the best way to calculate the price - is it by carpet area or built-up area?

    It goes by carpet area or the area which is mentioned in the agreement.

    When new builders are charging 6000+, I'm assuming that it is on the carpet area. Does the same rate apply when buying used property? Or is it typically lower?

    Builders charge on salable or super-built up area. The rate/sq ft on carpet is will be atleast 30-40% more.


    Originally Posted by sweetu9
    Supreme palms already have 5 building in that compound. You are saying they do not get PMC water as of now. I am bit confused at this point. I stay in Baner and have been regularly receiving PMC water without any issue and i was under the assumption that same is the case with Balewadi specially when the society is established way back.

    Last heard, they were in process of getting pipeline, don't know about current details. Having said that, even if they have PMC water pipeline, as this is outskirt of PMC, PMC will be providing not more than 40l/day/person & rest of water needs to be arranged by residents (bore/tanker). It is therefore best to avoid areas which is already water deficient. Balewadi is one of them.
    It is better if you can rather shift to PS coz PCMC has better infra in place there.
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