Which one should I choose, cause I want to buy a house in one of these townships?
    What’s the current rate at the table?

    Appreciate the help!!

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  • Originally Posted by get2sharad

    If you can spend around 40Lacs, dont even look towards Hinjewadi, go for Pimple saudagar or Viman nagar.



    why not Baner then ?

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  • I was just joking :P. builders will never buy in the outskirts and if IT ppl dont have money the the only ppl left with money are the builders themselves so they would have to buy it. catch -22
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  • Originally Posted by vastumitra
    I don't feel comfortable with townships for residential purpose for the following reasons:
    1) Lack of empirical data on success of this model: We haven't seen townships like BR, MP, Magarpatta go through their lifecycle to know if it makes sense to buy there. Things like what would be the state of these townships few years down the road after they are functional? Will the maintenance charge more than what is being quoted because of unforeseen expenses? is developer aware all costs now? Will the developer be as much responsible once all flats are sold? Will they take flat owners for ride with respect to basic services delivered within four walls of the townships (e.g. internet, s, school fees, insurance, medical care, news paper, milk, laundry, car wash, repairs and maintenance, cooking gas, and so on), will they force flat owners to buy these from those who give them 'cut'. Will politicians be motivated to help flat owners because there is no vote bank when it comes to municipal elections. My guess is the total cost of ownership will be significantly higher because of all these. Township to me sound like cow that developer can milk forever.
    2) Long gestation period: Small projects take 2-3 years, townships of these size would take at least 10 years to be functional at acceptable levels.
    3) Walk to work may not work: unless you stick to jobs available within the township.
    4) Resale might be difficult: Because townships form a narrow part of the overall residential RE market, it might be difficult to find buyer..more so if points mentioned in (1) above go against you.
    5) Township schools can accept outsiders: Township schools are not required to limit or give preference to township residents, so you will have to compete with outsiders to the extent outsiders want send their kids to township (I won't send mine, can't speak for others)
    6) Double taxation: By virtue of living in townships, you will be paying for basic infrastructure that would otherwise be available by virtue of not being in township. For example, if I live outside township don't have to pay for roads, transformers and so on. It is covered in taxes we already pay. There is no discount/rebate in taxes when you live in a township. Staying in township to that extent is paying tax twice.

    It might make more sense to invest in commercial side of the townships (e.g. shops) because once township is occupied it will create readymade market, still it will take good years to get full potential.


    Nice post. Townships will be run like a company and for profit maling. Small societies actually represent democrosy model.
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  • Originally Posted by get2sharad
    Megapolis smart homes are good option if you have a budget of 30L only for 2 BHK.
    If you can spend around 40Lacs, dont even look towards Hinjewadi, go for Pimple saudagar or Viman nagar.


    Viman nagar is costlier than Hinjewadi. Rates are over 4000 psf. Even PS rates are over 3200.
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  • Wtf

    Megapolis Smart Homes2 - Agreement value is approx. 90% of the total cost. WTF... :bab (45):
    Builder certainly wants lock in the clients and make cancellations difficult.

    In Phase-I also they were cutting lot of amount if anyone wanted to cancel.
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  • Originally Posted by sno247
    Megapolis Smart Homes2 - Agreement value is approx. 90% of the total cost. WTF... :bab (45):
    Builder certainly wants lock in the clients and make cancellations difficult.

    In Phase-I also they were cutting lot of amount if anyone wanted to cancel.

    It is really waste in investing in underconstruction property.I would say it is like gamble.
    Pros:
    (1) Rates appriciate when u actually take posession of the property

    Cons:
    (1) u need to pay rent as well as EMI which put heavy burden on your pocket.
    (2) u never know if construction halts/delayed by builder for some reason(like recession, less bookings).
    (3) u can not point out much on quality of work, since u have already given money to builder
    (4) if u cancel booking, u may loose your money
    (5) u never know that area will develop, as u expected while booking.
    (6) tension due to point 1 to 5 :D

    So if it a reputed and good builder(track history) then only better to invest in underconstruction property else try for ready posession.
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  • Originally Posted by m_square
    why not Baner then ?



    Baner area with good amenities around is going more than 40L. That's what I saw generally, individuals need to explore more.
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  • 2 bhk flat Sangria vs blue ridge

    Hi Friends,

    I am looking to purchase a resale 2 BHK flat in either Megapolis Sangria towers or in Blue Ridge. BR is almost 15 Lakhs more expensive but have better sized apartments (1335 Sq feet) compared to 1124 Sq feet of Megapolis. Also the maintenenace cost is also double in Blue ridge.

    My plan is to purchase a property now and rent it out for 2/3 years and later shift in this flat OR if I move out of Pune, I should be able to sell the flat after 3 years at good appreciation.

    Which of them would be better investements. Please suggest.

    Thanks!!
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  • 2BHK in sangria ~ 60-70 L i guess and rent you would get would be max 10k per month so that makes approx 2/3 lakhs for 2/3 yrs.

    I dont think you would get good appreciation in three yrs , if you had invested as under construction around 2010 then you might have realized real capital gains . But i really doubt anybody would be ready to purchase at such exorbitant price 3 yrs down the line in phase 3 which is still nascent in terms of development . Also too much availability of 2bhk down the line if you consider sparklet,sunway,splendour etc.
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  • Originally Posted by smartAqua05
    Hi Friends,

    I am looking to purchase a resale 2 BHK flat in either Megapolis Sangria towers or in Blue Ridge. BR is almost 15 Lakhs more expensive but have better sized apartments (1335 Sq feet) compared to 1124 Sq feet of Megapolis. Also the maintenenace cost is also double in Blue ridge.

    My plan is to purchase a property now and rent it out for 2/3 years and later shift in this flat OR if I move out of Pune, I should be able to sell the flat after 3 years at good appreciation.

    Which of them would be better investements. Please suggest.

    Thanks!!


    Wow, you only talk about 'good' appreciation after 3 years! Quite an optimistic attitude i must say! Here are my 2 cents:
    1. Have you considered 'other' units coming in market over these 3 years. 'other' units comprise of flats from same projects (many other under construction buildings) & other projects (BR/LR to name a few big ones and countless smaller ones - ashok meadows , sarathi and what not). Are you sure you will make a profit (even if not good) after 3 years, considering opportunity/interest cost? What if you just get 5% YoY appreciation in 3 years? That would mean a loss, considering you could have invested your money in 9% tax free bonds.

    2. Hinjewadi is going to get more people working here..so it will develop but its nearby areas will develop at even rapid pace. If in 3 years, property price in hinjeadi is 7500 sq ft, will not people shift to marunji village or any new destination? (similar people who shifted to hinjewadi to avoid paying higher prices in wakad/balewadi/baner areas)

    3.Bonus cent - This is more of a behavioral point - if you 'feel' or 'think' that there is a scope of extra ordinary returns, dont you think the other people must have got the same idea? So dont get misguided by the greed...think of a longer term perspective...

    All the best!
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  • As of now premium apt in BR are 6000sqft+ and in MP its 5500sqft+. Both of the projects are not complete and I am sure builders will keep rising price as and when he builds new blocks. But the question is no matter how high price inflate, will there be a similar resale value?
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