Announcement

Collapse
No announcement yet.

Dilemma Pune

Collapse
X
Collapse

Dilemma Pune

Last updated: December 3 2012
2 | Posts
728 | Views
  • Time
  • Show
Clear All
new posts

  • Dilemma Pune

    I am looking for purchasing an apartment not from an investment perspective but for my family. I work at SB Road and Hinjewadi. I have been looking out for apartments in and around Kalewadi, Rahtani, Pimpri, Kasarwadi where prices are averaging around 4200 – better compared to Pimple Saudagar and Wakad areas where it has already crossed 4500

    Can anyone suggest good projects in the above mentioned areas which you feel would also be an investment in the long term? I am not a localite and plan to sell the apartment maybe 8-10 years down the lane when I know where I am going to settle down (If its not Pune!! )

    (Sometimes I wonder how more would the prices in Pune escalate to. GDP of Pune is about $48 billion whereas for Mumbai its about $220 billion plus. So cant do a comparison with Mumbai on these grounds!! )
  • #2

    #2

    Re : Dilemma Pune

    Why to buy if you are not tryign to cover the risk that buying tomorrow may be too expensive. Unless you are trying to cover risk that rentals may shoot up in coming time.

    I can see ony one reason is that you are plannig ot buy RE in your hometown 10 years down the line and if overall prices go up in 10 years time, you are covered by the proportionate appreciation in Pune prop.

    Comment

    • #3

      #3

      Re : Dilemma Pune

      Originally posted by compuwalah View Post
      Why to buy if you are not tryign to cover the risk that buying tomorrow may be too expensive. Unless you are trying to cover risk that rentals may shoot up in coming time.

      I can see ony one reason is that you are plannig ot buy RE in your hometown 10 years down the line and if overall prices go up in 10 years time, you are covered by the proportionate appreciation in Pune prop.
      Hi compuwalah. Not sure where i am going to settle down since IT companies are spread out across many metros. However going by the current trend where pune seems to be fast expanding and the unit i am in there is a reasonably good chance that it will be pune for quite some time. Hence this search to buy a house and stop paying rentals

      As per my excel calculations it still pays in 20 years to buy a house in the areas (and pay EMI) that i am considering rather than pay rent for the next 20 years

      As far as my hometown is considered its Hyderabad where real estate prices are still at sensible levels. For 50 - 65L you get a row house in a decent locality and rates are affected by economy ups and downs. I have seen rentals going up and down and not like Pune where it just seems to go up, up and up. So if i exit Pune whenever i still would be on a +ve compared to Pune
      Last edited December 4 2012, 11:13 AM. Reason: More updates was needed

      Comment

      Have any questions or thoughts about this?
      Working...
      X