Dear Friends....

Pl express ur veiws about this project-
THE PALLADIUM by by Guardian Corporation & Gokhale Constructions.
Location- Opp City Pride & Big Bazzar, Kothrud, Pune (W).

Was considering buying a flat in this area, but seriously i dint think the prices would be so high... They are quoting 12000-14000 per/sft with a Rs.250 floor rise from the 9th floor...

I personally think the price of 6000-8000 is alright for this location... but still am very confused as the location is just spot-on for me n my family.

The questions before finalizing are-
1. Is it worth that amount ??? any potential appreciation in the coming years say 3-5 yrs???
2. The reputation of the builder Guardian Developers & Gokhale Const ???
3. Any other projects in the vicinity ???

Pl help me as i am considering this project seriously... but am scared hearing the rates, also an expected slowdown in the Real Estate prices and the reputation & quality of the builders of this project( have never heard about them much )...

Highly obliged for ur replies.....
Thanking You,
WINNRAAJ
Read more
Reply
30 Replies
Sort by :Filter by :
  • People who have 2.5 crore+ budget, do not come and discuss on this forum. neither they worry much about appreciation. If you are lucky to afford that much and blessed to find happiness in it - just do it.

    Originally Posted by WINNRAAJ
    Dear Friends....

    Pl express ur veiws about this project-
    THE PALLADIUM by by Guardian Corporation & Gokhale Constructions.
    Location- Opp City Pride & Big Bazzar, Kothrud, Pune (W).

    Was considering buying a flat in this area, but seriously i dint think the prices would be so high... They are quoting 12000-14000 per/sft with a Rs.250 floor rise from the 9th floor...

    I personally think the price of 6000-8000 is alright for this location... but still am very confused as the location is just spot-on for me n my family.

    The questions before finalizing are-
    1. Is it worth that amount ??? any potential appreciation in the coming years say 3-5 yrs???
    2. The reputation of the builder Guardian Developers & Gokhale Const ???
    3. Any other projects in the vicinity ???

    Pl help me as i am considering this project seriously... but am scared hearing the rates, also an expected slowdown in the Real Estate prices and the reputation & quality of the builders of this project( have never heard about them much )...

    Highly obliged for ur replies.....
    Thanking You,
    WINNRAAJ
    CommentQuote
  • Dear,

    may i know y do u think so????
    dont we have to struggle for money ????
    if i am investing somewhere say Rs.10 or Rs.10cr, ofcourse i am going to think about all these factors...
    i dont also think anywhere in the forum rules it is mentioned that the forum is only for a certain class of RE or flats....
    ultimately a buyer is a buyer.... n this forum is for RE buyers.... y r u separating and creating groups in this friend???
    pls dont misunderstand me...
    i am genuinely interested in the project n i will think of all the factors mentioned above n then only finalize... till then if u want to give a genuine reply give or keep thinking the way u do....
    Thanks & Regards,
    WINNRAAJ
    CommentQuote
  • Originally Posted by WINNRAAJ
    Dear Friends....

    Pl express ur veiws about this project-
    THE PALLADIUM by by Guardian Corporation & Gokhale Constructions.
    Location- Opp City Pride & Big Bazzar, Kothrud, Pune (W).

    Was considering buying a flat in this area, but seriously i dint think the prices would be so high... They are quoting 12000-14000 per/sft with a Rs.250 floor rise from the 9th floor...

    I personally think the price of 6000-8000 is alright for this location... but still am very confused as the location is just spot-on for me n my family.

    The questions before finalizing are-
    1. Is it worth that amount ??? any potential appreciation in the coming years say 3-5 yrs???
    2. The reputation of the builder Guardian Developers & Gokhale Const ???
    3. Any other projects in the vicinity ???

    Pl help me as i am considering this project seriously... but am scared hearing the rates, also an expected slowdown in the Real Estate prices and the reputation & quality of the builders of this project( have never heard about them much )...

    Highly obliged for ur replies.....
    Thanking You,
    WINNRAAJ

    if you have the money, go for it. you do not need to think of anything else except for the location which is super good.
    CommentQuote
  • I have seen a few single building constructions from the Gokhale guy in the Karvenagar area. They look decently built from outside. Not been inside so cant comment. This seems to be his first 'big' construction effort...
    CommentQuote
  • Originally Posted by WINNRAAJ
    Dear Friends....

    Pl express ur veiws about this project-
    THE PALLADIUM by by Guardian Corporation & Gokhale Constructions.
    Location- Opp City Pride & Big Bazzar, Kothrud, Pune (W).

    The questions before finalizing are-
    1. Is it worth that amount ??? any potential appreciation in the coming years say 3-5 yrs???
    2. The reputation of the builder Guardian Developers & Gokhale Const ???
    3. Any other projects in the vicinity ???
    WINNRAAJ


    Answers:
    1. Yes. It will appreciate by min 30% in the next 5 years.
    2. Reputation I dont know
    3. No new projects.

    P.S. - I am looking for a rental flat, 3 BHK, can afford 15,000 per month as rent. After you invest, can rent it out to me?
    CommentQuote
  • Originally Posted by abeerbagul
    Answers:
    1. Yes. It will appreciate by min 30% in the next 5 years.
    2. Reputation I dont know
    3. No new projects.

    P.S. - I am looking for a rental flat, 3 BHK, can afford 15,000 per month as rent. After you invest, can rent it out to me?


    So dear after 5 years it will be like 18,000 psft in kothrud??
    CommentQuote
  • Suppose he buys today at 15k per sq ft, and it appreciates to 19.5k per sq ft after 5 years, has he made a profit?
    Two scenarios:
    1. Full downpayment - he "invests" 3 crores in a flat and it becomes 3.9 crores in 5 years. If he had put it in fixed deposit at 9%, he would have earned 4.6 crores.
    2. Full loan - 20% downpayment works out to loan of 2.3 crores, on which he will pay interest in 5 years approx 1 crore, minus income tax benefit 1.5 lakhs, i.e. 98.5 lakhs.
    He sells the flat for 3.9 crores, gets in hand return of 3.9 crores - 98.5 lakhs, i.e. 3 crores, which is repaid to bank.

    So a 30% return in 5 years is a losing proposition. He will benefit only if he has a return of 70% or more in 5 years.
    CommentQuote
  • All this doesn't matter, if he has black money to invest, coz in that case, easy come, easy go.
    CommentQuote
  • I met one person on a flight (working in Gulf) who purchased an apartment in Mumbai Bandra and rate is 30K psft.

    His word of wisdom to me was - "Do not underestimate Pune". Treat Pune as a mumbai 10 years back. No wonder he was on his flight to Pune to enjoy his stay in West In and then meet some high-end brokers. He said, he does not consider anything for which psft is in 4 digits in Pune.

    So it is very likely - you never know. One Kumar project near market yard and one on balaji nagar circle are quoting 9000 psft currently. Price starts from 1.95 crore both areas are not good but bookings are going on. Sales team will identify by looking at a person if they should entertain him or not. For me they clearly said budget flats are not available. I did not dare asking them what is their defination of budget flat.

    Originally Posted by puser
    So dear after 5 years it will be like 18,000 psft in kothrud??
    CommentQuote
  • A poor cousin will always be treated like a poor cousin, even if he accompanies his rich brother everywhere.
    Pune is a poor cousin of Mumbai and will never equal Mumbai in economic power.

    Look at New Jersey, even being in commuting distance of the world's most expensive real estate, where 4 bhk flats sell for 50 crore, New Jersey does not command the prices of New York. This is after decades of being the most developed area in the world.

    And anyways, I am not interested in 1 crore plus flats, because the price is high due to speculation, not because people dont have places to stay.
    If the demand was for staying rents for a 1 crore plus 3 bhk would be 40k per month.

    How many societies in Pune can you count where a 3 bhk flat rents for 40k, vs sells for 1.5 crores?

    In NY, 1 BHK sells for 2.5 crores, because people buy it to stay there.
    CommentQuote
  • 10 years back if someone would have said that apartments would be sold for 2.5+ crore in Pune, I would have made fun of him - same way you are showing your disagreement. If Mumbai prices can be justified - pune can very well be justified also. Pune is currently highlight for people all over india.

    Originally Posted by abeerbagul
    A poor cousin will always be treated like a poor cousin, even if he accompanies his rich brother everywhere.
    Pune is a poor cousin of Mumbai and will never equal Mumbai in economic power.

    Look at New Jersey, even being in commuting distance of the world's most expensive real estate, where 4 bhk flats sell for 50 crore, New Jersey does not command the prices of New York. This is after decades of being the most developed area in the world.

    And anyways, I am not interested in 1 crore plus flats, because the price is high due to speculation, not because people dont have places to stay.
    If the demand was for staying rents for a 1 crore plus 3 bhk would be 40k per month.

    How many societies in Pune can you count where a 3 bhk flat rents for 40k, vs sells for 1.5 crores?

    In NY, 1 BHK sells for 2.5 crores, because people buy it to stay there.
    CommentQuote
  • Originally Posted by tushart
    10 years back if someone would have said that apartments would be sold for 2.5+ crore in Pune, I would have made fun of him - same way you are showing your disagreement. If Mumbai prices can be justified - pune can very well be justified also. Pune is currently highlight for people all over india.

    First, who is saying that Mumbai prices are justified ?? There is already correction in Mumbai from Panvel to BKC between 15-20%. Check my previous threads.

    And man, Pune is not even 10% of what Mumbai is.
    Eg. I love writing instruments of Cross & Mont Blanc, & I order it with personalised signature. And where does it come from ? Mumbai.
    My friend's dad owns a Porsche Cayanne car, & it goes to servicing to Mumbai.
    And if I have to fly to even some aadivasi area, I need to catch a flight from Mumbai. :D And forget RE, the vibrancy & the life of Mumbai is far different than Pune. You name anything & the service is provided at your door-step in Mumbai. I wanted to order a cell phone (getting a bang for the buck deal) on HomeShop18 last month & I was informed that it can't be shipped to Pune, so you can give your friend's address in Mumbai.

    Anyways, if Pune & Mumbai is the case, then Satara is near to Pune than Mumbai, hence, the prices of Satara should be minimum of 3500-4500/sq ft then. :D
    CommentQuote
  • Amazed....

    Amazed by
    "The Palladium"



    's cost



    Well , looking at luxury project etc, I was expecting it to be around 1.5 Cr+, but starting price is like 2.7+ Cr.. whew that was way out of budget of many ppl.

    I think who every wants to invest in this project must be business man, who already have few places like this..so they will not be thinking of investing 2.5+ Cr to 6.7 Cr(duplex villa 5 BHK wow).



    And we are leading away from topic..

    topic is not Mumbai Vs Pune , it is about "The Palladium" : Is it that worth?


    My answer is : NO


    Thanks,
    Tarzen
    CommentQuote
  • Originally Posted by tarzenbond
    Amazed by
    "The Palladium"



    's cost



    Well , looking at luxury project etc, I was expecting it to be around 1.5 Cr+, but starting price is like 2.7+ Cr.. whew that was way out of budget of many ppl.

    I think who every wants to invest in this project must be business man, who already have few places like this..so they will not be thinking of investing 2.5+ Cr to 6.7 Cr(duplex villa 5 BHK wow).



    And we are leading away from topic..

    topic is not Mumbai Vs Pune , it is about "The Palladium" : Is it that worth?


    My answer is : NO


    Thanks,
    Tarzen

    One can get 10% YoY with ease. If 2.7 Cr is the price, the annual rent should be atleast 19-21L to make it worth buying. Sometimes it makes me feel that even Donald Trump will faint after hearing Pune prices. :D

    Very soon, Mumbai prices will be driven by Pune's. :D
    CommentQuote
  • Originally Posted by tarzenbond
    Amazed by
    "The Palladium"



    's cost



    Well , looking at luxury project etc, I was expecting it to be around 1.5 Cr+, but starting price is like 2.7+ Cr.. whew that was way out of budget of many ppl.

    I think who every wants to invest in this project must be business man, who already have few places like this..so they will not be thinking of investing 2.5+ Cr to 6.7 Cr(duplex villa 5 BHK wow).



    And we are leading away from topic..

    topic is not Mumbai Vs Pune , it is about "The Palladium" : Is it that worth?


    My answer is : NO


    Thanks,
    Tarzen


    Palladium is in Kothrud. The supposed social infra is excellent in Kothrud. This justifies the prices (at least for the people who link the price of a property based on the supposed social infra outside the society gates)..
    CommentQuote