I saw saarthi shilp near ekalavya college today. All flats are almost sold out. I did not kine the ready flats and found them to be too small. And rumors say that the front of the complex is a pat of a slum redevelopment programme. Could anybody throw more light on this project?
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  • confused

    Realacres what you make out of this... i am looking to buy flat to live in.. not for investment. I lived in kothrud for last 4 years and i like the area. Plus I am IT guy so wakad, pimple saudgar and baner .. i can choose but personally i do not like any of those areas may be can give a chance to baner but problem is in all three areas also some in decent scheme flats will cost around 33 lakhs t 40 lakhs thats why I am looking to get anything around 40 in kothrud. Personally i do not see buying flat at these rates in pune make any financial sense. Thats why I am confused... what do u say is it good to invest such big amount to buy flat to live in? (I do not see rates in kothrud moving more 4-5% in next 3-4 years)
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  • Originally Posted by rameshbende
    Realacres what you make out of this... i am looking to buy flat to live in.. not for investment. I lived in kothrud for last 4 years and i like the area. Plus I am IT guy so wakad, pimple saudgar and baner .. i can choose but personally i do not like any of those areas may be can give a chance to baner but problem is in all three areas also some in decent scheme flats will cost around 33 lakhs t 40 lakhs thats why I am looking to get anything around 40 in kothrud. Personally i do not see buying flat at these rates in pune make any financial sense. Thats why I am confused... what do u say is it good to invest such big amount to buy flat to live in? (I do not see rates in kothrud moving more 4-5% in next 3-4 years)


    It is not investment if you are going to buy it for your own purpose. It is your spending on yourself or family. Check Bavdhan, many of my friends from Kothrud moved to Bavdhan.:)
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  • Originally Posted by rameshbende
    Realacres what you make out of this... i am looking to buy flat to live in.. not for investment. I lived in kothrud for last 4 years and i like the area. Plus I am IT guy so wakad, pimple saudgar and baner .. i can choose but personally i do not like any of those areas may be can give a chance to baner but problem is in all three areas also some in decent scheme flats will cost around 33 lakhs t 40 lakhs thats why I am looking to get anything around 40 in kothrud. Personally i do not see buying flat at these rates in pune make any financial sense. Thats why I am confused... what do u say is it good to invest such big amount to buy flat to live in? (I do not see rates in kothrud moving more 4-5% in next 3-4 years)


    Ramesh..u could get good resale flat in Kothrud...try woodland and societies near by..resale rate would be in the range 4000-5000....
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  • Details Required

    Originally Posted by rameshbende
    Realacres what you make out of this... i am looking to buy flat to live in.. not for investment. I lived in kothrud for last 4 years and i like the area. Plus I am IT guy so wakad, pimple saudgar and baner .. i can choose but personally i do not like any of those areas may be can give a chance to baner but problem is in all three areas also some in decent scheme flats will cost around 33 lakhs t 40 lakhs thats why I am looking to get anything around 40 in kothrud. Personally i do not see buying flat at these rates in pune make any financial sense. Thats why I am confused... what do u say is it good to invest such big amount to buy flat to live in? (I do not see rates in kothrud moving more 4-5% in next 3-4 years)

    OK, most of the primary clarifications are there.....now here are some details required from your end:-

    1. 40L is your budget, but what will be the mode of payment? Loan:downpayment ratio, duration of loan, if any.

    2. Single/Married? Taking loan on your own income or double income. The %age of salary going into servicing EMIs (home) & the total savings after servicing all types of EMIs i.e. car, credit card etc. You need not give amount but simply define the total %age.

    3. You being an ITG, are you sure that you won't shift out of Pune or are you ready to shift outside Pune even if you get better offers elsewhere, say Bangalore?

    4. Any chances of you going abroad for work/on-site within an year? If yes, the duration of stay.

    5. Have you liked any property immensely till date?

    6. Current investments, if any like stocks, MF, etc.

    Please answer these questions so that we can answer precisely.

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  • Details here

    Hi realacres,
    Details here

    1. I will be making around 40-45% of downpayment and rest will be from loan.loan duration 20 years.I am 26 now
    2. I am single. I belive i wont marry at least for another year (lot of wait haa :D). House loan emi would be around 45% of my salary. I do not have any other loan.
    3. I wont move out of pune not 100% sure but at least 99%.Even if i go out it wont be more than year or two.
    4. Regarding onsite to be honest i do not have idea about near future. But if i get good opportunity will definately go for that then I will rent the property in that case
    5. Well regarding liking any property to be honest i have not seen much. I saw some of the 3-4 startup schemes in wakad, couple in pimple saudagar and some couple of resell flats in kothrud.
    6. Regarding cash.. i have most of cash is now liquid because i am planning to buy house .. but other than this i have some cash invested in lic in last 5 years which i would not be using anyway for flat.

    Now you may curse me because i have not been to many schemes and i am about to make decision. But point is i am having more of location prefrences than the schemes. Kothrud is pretty much on top on my radar ... because i guess i lived here for last 4 years (bit biased :D). When i thought about buying flat at end of the last year.. i thought about buying in wakad or pimple saudagar.. so i went to live in wakad just to get the idea about the areas around and i did not like my stay there so came back after 2 months. Below are points based on which i am preferring kothrud over others

    1. I lived here for last 4 years and l like area.
    2. It is very devloped comapred to like of wakad, pimple saudagr.. but they will in next 4-5 years.
    3. Kothrud is at central location from 3 IT areas 16-18 km from hinjewadi, kalayani nagar and magarpatta. Now wakad is more of targetting hinje .. pimple is at center but area is not devloped .. so no ..
    4. Decent 2bhk in wakad would be around 33-35 in pimple 35-38.. so it would be better to get it around 40 in kothrud
    5. Propsed metro project in future.. pontential price appreciation in future and better commuting

    When i decided to buy flat .. i was very sure that i am buying to live in not for investment hence i am pushing my budget little towards the edge.

    Now what i am more worried about is potential double dip recession. Now US is lossing job pretty much for last 3 years and pace has increased in last few months .. GDP growth is going down every quarter. Europe is pretty much down other than germany may be ..china is slowing and japan is pretty much in recession for last decade i guess :D. So world economy is slowing and IT is pretty much export so potential danger for job or less salary.If this happens so then there could be real estate slow down and prices will go down and do not want to be receving end again .. i invested just before stock market crash in 2008 :o.Plus there is price/rent raio indicating presense of bubble in real estate. Well then why I am not waiting .. well as you see i will be getting married in year or two .. so it would be nice to have you own house and it may give chances of getting good bride in market . secondly there is decoupling theory tauted by many pandits saying india will grow irrespective of world and if US economy just hangs in there that might give decent growth in IT. So in that case it might put flat in kothrud out of my pocket. Thats is why i am confused.
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  • Details

    Hi realacres,
    Details here

    1. I will be making around 40-45% of downpayment and rest will be from loan.loan duration 20 years.I am 26 now
    2. I am single. I belive i wont marry at least for another year (lot of wait haa :D). House loan emi would be around 45% of my salary. I do not have any other loan.
    3. I wont move out of pune not 100% sure but at least 99%.Even if i go out it wont be more than year or two.
    4. Regarding onsite to be honest i do not have idea about near future. But if i get good opportunity will definately go for that then I will rent the property in that case
    5. Well regarding liking any property to be honest i have not seen much. I saw some of the 3-4 startup schemes in wakad, couple in pimple saudagar and some couple of resell flats in kothrud.
    6. Regarding cash.. i have most of cash is now liquid because i am planning to buy house .. but other than this i have some cash invested in lic in last 5 years which i would not be using anyway for flat.

    Now you may curse me because i have not been to many schemes and i am about to make decision. But point is i am having more of location prefrences than the schemes. Kothrud is pretty much on top on my radar ... because i guess i lived here for last 4 years (bit biased :D). When i thought about buying flat at end of the last year.. i thought about buying in wakad or pimple saudagar.. so i went to live in wakad just to get the idea about the areas around and i did not like my stay there so came back after 2 months. Below are points based on which i am preferring kothrud over others

    1. I lived here for last 4 years and l like area.
    2. It is very devloped comapred to like of wakad, pimple saudagr.. but they will in next 4-5 years.
    3. Kothrud is at central location from 3 IT areas 16-18 km from hinjewadi, kalayani nagar and magarpatta. Now wakad is more of targetting hinje .. pimple is at center but area is not devloped .. so no ..
    4. Decent 2bhk in wakad would be around 33-35 in pimple 35-38.. so it would be better to get it around 40 in kothrud
    5. Propsed metro project in future.. pontential price appreciation in future and better commuting

    When i decided to buy flat .. i was very sure that i am buying to live in not for investment hence i am pushing my budget little towards the edge.

    Now what i am more worried about is potential double dip recession. Now US is lossing job pretty much for last 3 years and pace has increased in last few months .. GDP growth is going down every quarter. Europe is pretty much down other than germany may be ..china is slowing and japan is pretty much in recession for last decade i guess :D. So world economy is slowing and IT is pretty much export so potential danger for job or less salary.If this happens so then there could be real estate slow down and prices will go down and do not want to be receving end again .. i invested just before stock market crash in 2008 :o.Plus there is price/rent raio indicating presense of bubble in real estate. Well then why I am not waiting .. well as you see i will be getting married in year or two .. so it would be nice to have you own house and it may give chances of getting good bride in market . secondly there is decoupling theory tauted by many pandits saying india will grow irrespective of world and if US economy just hangs in there that might give decent growth in IT. So in that case it might put flat in kothrud out of my pocket. Thats is why i am confused.
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  • Reply

    Any Replies guys...
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  • Can see a pattern here. Am picking up points from your description which seem relevant to your decision, please find comments inline:
    Flat cost is 40L (assumed)

    1. I will be making around 40-45% of downpayment and rest will be from loan.loan duration 20 years.I am 26 now

    This means downpayment of 16 - 18 lacs. You are 26, means this is not your savings, it is your parents.

    2. House loan emi would be around 45% of my salary. I do not have any other loan.

    Loan will be 22 - 24 L, EMI will be 24k per month (or more), since interest rates are going up. So your net take home is approx 50k per month. You dont have any other loan right now.
    So you have 26k per month for daily living. Add car loan approx 8k per month, household expenses 20k per month including petrol, vacations, etc, after you get married.
    Net savings per month - zero. So you are expecting a 20% pay hike next appraisal? Seems unlikely. Else your wife will also be earning, in which case you can manage.

    3. Well regarding liking any property to be honest i have not seen much.

    Have you checked out resale 2 BHKs in Kothrud? Search a little bit, you will be amazed at what you can get for 40L.

    4. so it would be nice to have you own house and it may give chances of getting good bride in market

    This has been a major reason for many people I know, but it is not very sensible. You are taking a major financial decision for an emotional benefit. There are other non financial ways of getting a good bride (a bunch of roses might do the trick too).

    I know it is important in an arranged marriage to look well settled, but hey, you are 26, going to be married at 27. You are young, have a great future to be well settled in later.

    Do not stress your parents savings for a shaky financial investment.

    My suggestion: Get a decent 1 BHK on rent in Kothrud, about 8k per month. Get married, save your own downpayment, get EMI down to 30% of joint net take home. By that time you will be on the wrong side of 30. Then buy a flat.

    Else if your parents are really insisting, take a look at good resales in better neighbourhoods of Kothrud. Eklavya College is a far tip of Kothrud.
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  • gr8 analysis Abeer

    \just to add to that, I also assume that your parents are not in Pune. Then why not buy a flat where your home is (probably Nashik / nagpur / a'bad ?)

    Or, if you are so desperate, buy a flat in hyd / blore,. You get both EMI tax adv. as well as rent tax advantage.

    HTH
    ~D
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  • Most of the times..u will get negative feedbacks on this forum.....but I am really surprised to see that from Abeer who has invested in property :)

    At the age of 26 ,you are earning 50K that itself indicates yr financial positions and u r looking for flat for living....so I don't see any benefit in waiting for few more years....And this is the age to take risk...

    U can also think about purchasing 1 BHK if u r not sure about yr future...u can sell the same and upgrade to 2 BHK afterwards...(who knows if yr wife is working u can afford 2 BHK without selling this.)

    Abeer is saying u cannot save anything...but u can definitely save the Car EMI and expense related to it couple of years by postponing yr decision to purchase car...and then u can expect hike of atleast 10K in next couple of years that will be yr saving. And I think if u start now with 8-10K saving that will be sufficient for yr retirement.

    (But keep in mind that yr parents should have sufficient saving after they sponser u...)
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  • Ramesh, don't take EMI more than 1/3rd of your take home income; thats only advice I can give as you're buying for your own sake - don't worry about price corrections; its about having right home at right time; and you decide what is right.
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  • Most of the times..u will get negative feedbacks on this forum.....but I am really surprised to see that from Abeer who has invested in property :)
    Many of the people on this forum do have properties, myself included, and are also looking for more opportunities, that's why on these forums. But the times we bought properties, the reasons; and the reasons / places / prices / where we are looking for properties is different and so are each individuals financials.

    Abeer has given ramesh an analysis of his situation, and it makes a lot of sense.
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  • Originally Posted by abeerbagul
    Can see a pattern here. Am picking up points from your description which seem relevant to your decision, please find comments inline:
    Flat cost is 40L (assumed)

    1. I will be making around 40-45% of downpayment and rest will be from loan.loan duration 20 years.I am 26 now

    This means downpayment of 16 - 18 lacs. You are 26, means this is not your savings, it is your parents.

    2. House loan emi would be around 45% of my salary. I do not have any other loan.

    Loan will be 22 - 24 L, EMI will be 24k per month (or more), since interest rates are going up. So your net take home is approx 50k per month. You dont have any other loan right now.
    So you have 26k per month for daily living. Add car loan approx 8k per month, household expenses 20k per month including petrol, vacations, etc, after you get married.
    Net savings per month - zero. So you are expecting a 20% pay hike next appraisal? Seems unlikely. Else your wife will also be earning, in which case you can manage.

    3. Well regarding liking any property to be honest i have not seen much.

    Have you checked out resale 2 BHKs in Kothrud? Search a little bit, you will be amazed at what you can get for 40L.

    4. so it would be nice to have you own house and it may give chances of getting good bride in market

    This has been a major reason for many people I know, but it is not very sensible. You are taking a major financial decision for an emotional benefit. There are other non financial ways of getting a good bride (a bunch of roses might do the trick too).

    I know it is important in an arranged marriage to look well settled, but hey, you are 26, going to be married at 27. You are young, have a great future to be well settled in later.

    Do not stress your parents savings for a shaky financial investment.

    My suggestion: Get a decent 1 BHK on rent in Kothrud, about 8k per month. Get married, save your own downpayment, get EMI down to 30% of joint net take home. By that time you will be on the wrong side of 30. Then buy a flat.

    Else if your parents are really insisting, take a look at good resales in better neighbourhoods of Kothrud. Eklavya College is a far tip of Kothrud.


    Hi Abeer,
    Thanks for your responses.To answer ur some of queries I would not be going for car in at least in year or two .. if at all i go it will be for second hand small car not costing more than 1.5 lakh and that too if i have almost all of that as cash... secondly as far as savings goes once i finish deal of flat i will try for switch right away .. giving me room to save... well i am more worried about price change after buy due to recession if any. If price goes down after my purchase then i will be kicking myself also if i decide to wait for say 6 months and prices continue to go up then again .. so its bit of dilema .. i am sitting on cash for last 3-4 months waiting for RE crash :) and prices have gone upwards only ..

    well I have question what do you guys think price psf should be to close deal here? shoor whatever price you think based on ur expericne
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  • Go ahead and buy if you are ONLY concerned about price fall - it wont happen -- for more than 10-20%, HOWEVER THE PRICES WILL REMAIN MORE O LESS THE SAME FOR THE NEXT 3-5 YEARS, and inflation adjusted -- if your property value today is 50 lacs, after 5 years,its 50 lacs, -- you have ;lost a cool 15 lacs approxx.

    Now, if you are taking a loan - you lose much more - maybe 20-25 lacs...hence the property would actually cost you 75 lacs-1 crore -- while price then would still be 50 lacs.
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  • Marriage with Ramesh or his Self-owned Flat?

    Hi Ramesh,

    Please don't get me wrong, I don't mean to offend you. However are you looking for a Bride who wants to marry you for who you are or for what you own. You very well meet most of the expected criteria for a Decent Groom in an Arranged Marriage set-up.

    I am very much against the Bride being interested to know what my take home is, my net worth and so on and so forth. She has to first like me as a Human Being - Character, Values, Education, etc in that order. Well these are my personal opinions and am happy that I married this Girl(Arranged Marriage) who never asked me anything about these things that I despise. I just told her to believe in me and at that time I didn't have anything to call of my own. All that she told me after marriage a couple of times is that we should have a house of our own, thats all. Four years down and my net worth today stands at 75 Lacs+ including a beautiful house...

    She is still the same and so am I and it makes me Happy. Happiness is all that matters Dear Ramesh. Am sure you want to marry because you have chosen to and feel that it will make you happier.......

    Cheers,

    NT
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