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Is it good to buy 2 Bhk in Wakad for 53 lackhs

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Is it good to buy 2 Bhk in Wakad for 53 lackhs

Last updated: December 16 2012
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  • Is it good to buy 2 Bhk in Wakad for 53 lackhs

    Hi i am working in Kharadi and i want to buy house in wakad.
    i have seen projects in wakad near datta mandir and near palash project which is costing 53 lackhs
    is it good place to leave and invest.
    its far from my office in kharadi but since recent studies shows that wakad rates will become double by 2017. Is it really true or just gimmick to boost the rates which is seen slow down
    Please help me as i will be taking home loan + gold loan and investing savings of parents also
  • #2

    #2

    Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

    Originally posted by rpawaskar2 View Post
    recent studies shows that wakad rates will become double by 2017.
    Which recent study? Can you share the link or provide details?

    BTW some recent study had also shown that in 10-20 yrs, bombay will become shanghai. Believe it if you want to.

    No one on this forum can reliably tell you what will happen in future. If you "need" a house for living, just see your budget and go for it. No use waiting for prices to fall. If you just want to invest, why are you taking a loan, gold loan and putting your parents savings? Investment is done by putting in your own money and not by taking loans and introducing liabilities.

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    • #3

      #3

      Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

      Originally posted by lazybone007 View Post
      Which recent study? Can you share the link or provide details?

      BTW some recent study had also shown that in 10-20 yrs, bombay will become shanghai. Believe it if you want to.

      No one on this forum can reliably tell you what will happen in future. If you "need" a house for living, just see your budget and go for it. No use waiting for prices to fall. If you just want to invest, why are you taking a loan, gold loan and putting your parents savings? Investment is done by putting in your own money and not by taking loans and introducing liabilities.
      He should be talking about the Knight frank research report.

      If you are planning to stay Wakad then purchase it going by the merits - Is it making you life comfortable, etc,.

      Whatever these reports say do your own research.

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      • #4

        #4

        Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

        If you are purchasing this property for living, don't worry about the appreciation. It will happen sooner or later.

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        • #5

          #5

          Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

          Originally posted by rpawaskar2 View Post
          Hi i am working in Kharadi and i want to buy house in wakad.
          i have seen projects in wakad near datta mandir and near palash project which is costing 53 lackhs
          is it good place to leave and invest.
          its far from my office in kharadi but since recent studies shows that wakad rates will become double by 2017. Is it really true or just gimmick to boost the rates which is seen slow down
          Please help me as i will be taking home loan + gold loan and investing savings of parents also
          Hi Pawaskar...
          I Noted your points...
          My Views;
          1] If you are planning to settle in WAKAD area, and your budget suites you this much money to buy house then you should go for it.
          2] Please take consideration of travel from WAKAD to KHARADi,and wear & tear of your health, finance, and travel time and all.
          3] If in due course of time if you can get job in WAKAD then its ideal to buy house.
          4] Another suggestion is if you can afford to buy 2 houses ,then you should put money & divide in to two houses with 2 loans, one in constructed property ,and one under construction property...
          The constructed property loan u can avail as Housing loan....and repay from your SALARY...
          The one which u can book in kharadi area can be as unreconstructed propety...
          I would suggest you to look property near keshavnagar, manjari,and also good property near EON.... whcih can fetch you good rental income in case u settle in wakad.... forever.....

          I think this suffice u.
          savvy_v

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          • #6

            #6

            Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

            Originally posted by rpawaskar2 View Post
            Hi i am working in Kharadi and i want to buy house in wakad.
            i have seen projects in wakad near datta mandir and near palash project which is costing 53 lackhs
            is it good place to leave and invest.
            its far from my office in kharadi but since recent studies shows that wakad rates will become double by 2017. Is it really true or just gimmick to boost the rates which is seen slow down
            Please help me as i will be taking home loan + gold loan and investing savings of parents also
            Firstly, the so called studies were done by 'Knight Frank India' who is a RE agent wanting to sell projects in Wakad, Hinjewadi and hence he has vested interest.

            Secondly, you will be taking loan on gold it means you don't have enough cash to give minimum required down payment. You are betting on the fact that price will double in 5 yr and that will compensate for higher interest you have to pay for loan on gold.

            Thirdly, you work in Kharadi but are ready to travel 30km sacrificing your comfort.

            Based on these you can take your own call.

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            • #7

              #7

              Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

              Hey,
              If you are working in Kharadi, then there is no point in buying home in Wakad.
              No one can tell wheather the prices will shoot up or go down.

              Also if you are planning the take gold loan and invest parent's saving for downpayment, I think you are taking unnecessary risk of putting everything in buying house and not keeping anything for unknown problems in life.

              There are multiple projects in Wagholi/Kharadi area which would cost much less than 52 lacs. I think you should go for it and keep some money aside for unknown/sudden problems in life.

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              • #8

                #8

                Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

                disappoting to see how mango people get swayed by such trash reports...

                point is not whether wakad rates will double in next 5 years...it may or may not happen

                but its sad that some1 staying in Kharadi just trying ot buy in wakad basis a sponsored ( issuer paid) report

                Mr. Katju is right on 90% remarks on Indians

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                • #9

                  #9

                  Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

                  [QUOTE=rpawaskar2;654724]Hi i am working in Kharadi and i want to buy house in wakad.
                  i have seen projects in wakad near datta mandir and near palash project which is costing 53 lackhs
                  is it good place to leave and invest.
                  Yes, it is good place to leave

                  Comment

                  • #10

                    #10

                    Re : Is it good to buy 2 Bhk in Wakad for 53 lackhs

                    About my studies i went in almost every corner of Pune and seen lots of project. from last 1 year i waited prices to fall but it has not happened it has gone out of hand i have seen bombay where prices was same as pune few years back now its just impossible. Kharadi is to much expansive it costs something 60 lakhs and wagholi doesn't have basic infrastructure to live (in future it will have but i will take time)

                    and was thinking to buy house in wakad because
                    1) may be i could get job in Hinjewadi and my wife is also in IT currently in Kothroud.
                    2) i am from bombay and wakad is near to bombay (my travailing is mostly by train)
                    3) i may settle in PUNE or bombay (note sure depends on job and more jobs are in pune)
                    4) if in future if i want to get settle in other parts on pune so i can sell that flat and buy in that area, so looking for appreciation.
                    5) i am planing to buy in project where possession will be 1 to 1.5 years so i will have some time to pay gold loans.

                    so i was thinking of this risk so please advice on this basis.

                    Comment

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