Hi All,

In the same spirit in which Amitabh Bachchan buys a building for his mother in the epic movie "Deewar", I am all set to buy a new apartment for my family; albeit "Vijay" in Deewar used black money and purchased the entire building, however I with white money can only buy an apartment but for some strange reason it feels the same!

"First Home" is a very romantic dream that every middle-class family has close to their hearts. Riding our way thru tough times, we have finally arrived to a position where we can make our dream "first home" come true. We solicit your advise (offcourse free :D) to help us make an informed and judicious decision at this extremly important milestone.

So without further ado, lets get into some details. Basic principles in our "first home" search:

1) Within 3-5 Kms of reputed schools such as Bishops, Abhinav etc. i.e. Viman Nagar, Karve Nagar and thereabouts
2) Ample play area for kids enabling them to enjoy outdoor sports.
3) Convenient access to downtown Pune i.e. suitably close to major relatively less congested roads
4) Decent neighbourhood areas

Specific criterion:
a) 2-3 Bedroom apartment with at least 2 balconies
b) 1000-1200 sq. ft. carpet area
c) Reasonably priced WITHOUT compromising QUALITY.

We appreciate your valuable advise!

Best Regards,
The good "Vijay"
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  • Hi IREF RE Experts,

    Requesting your suggestions on buying a decent 2-3 BHK apartment at reasonable price. As I've mentioned in my last post, we are looking to buy an apartment near any reputed school such as Bishops, Anubhav, Vincents or the likes...so I am inclined towards projects within 3-5 kms of Kalyani Nagar, Camp, etc.

    Our expectation is:
    1000-1200 Sq. ft. at less than 3300 PSF

    In some of the exisiting posts on this forum, I've realized that some technical aspects in real estate need to be reviewed before buying. I am also confused between buying an under-construction apartment, ready possession or resale - I would anyways need possession around 2010 end or later.

    Therefore, my request is twofold. a) Is there any review checklist before buying an apartment b) your recommendations of any projects that suit my requirements
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  • Originally Posted by Revolutionary_2009
    Hi All,

    In the same spirit in which Amitabh Bachchan buys a building for his mother in the epic movie "Deewar", I am all set to buy a new apartment for my family; albeit "Vijay" in Deewar used black money and purchased the entire building, however I with white money can only buy an apartment but for some strange reason it feels the same!

    "First Home" is a very romantic dream that every middle-class family has close to their hearts. Riding our way thru tough times, we have finally arrived to a position where we can make our dream "first home" come true. We solicit your advise (offcourse free :D) to help us make an informed and judicious decision at this extremly important milestone.

    So without further ado, lets get into some details. Basic principles in our "first home" search:

    1) Within 3-5 Kms of reputed schools such as Bishops, Abhinav etc. i.e. Viman Nagar, Karve Nagar and thereabouts
    2) Ample play area for kids enabling them to enjoy outdoor sports.
    3) Convenient access to downtown Pune i.e. suitably close to major relatively less congested roads
    4) Decent neighbourhood areas

    Specific criterion:
    a) 2-3 Bedroom apartment with at least 2 balconies
    b) 1000-1200 sq. ft. carpet area
    c) Reasonably priced WITHOUT compromising QUALITY.

    We appreciate your valuable advise!

    Best Regards,
    The good "Vijay"


    mere paas maa hai...tere paas kya hai...!!!
    good blog, I liked it. Good luck.
    Unfortunately I can't give you free or paid advise because I don't know anything about Viman Nagar or Karve Nagar , but surely other members will give you good advise :)
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  • Personally I like Kothrud, but if you have budget constraint then go for Bavdhan area and search different schemes in progress there or use search feature for bavdhan forum discussions.
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  • For 3 to 5 km around bishops-camp you can check out Wanowrie. Its a good residential area and about 3.5 to 4 km from the camp school. Some new projects we checked out there -

    Ganga Sampatti - We liked the sample flat and location. Rate is 3950 psf. Some people in this forum does not think highly of Atul ganga from goel ganga group(But this project is from Ganga developments, a separate group). But I'm not comfortable with the wooden flooring they have in the bedroom. Cleaning will be a problem and we have to specifically use only the vaccum cleaner in those rooms(Something I dont like using). And for Indian weather which will never go below 0 degree celsius unless in himachal pradesh or kashmir, this is just another builder gimmick of american lifestyle flats for indians.

    Raheja gardens - Very good location. rate quoted is 4500 psf. Different rates for garden and back facing flats. We did not like the flats. Though the flats are of ~1100 sqft, but somehow lacked the spaciousness. The dry balcony was useless, with so less space that we have to stand there on tip toes). Also the complex was overcrowded. Also no covered car parking, shocking!! for such a high price apartment.

    Ravi park - Location is in the heart of Wanowrie which is good, but the approach road is not that good with some very old constructions. The rate quoted was about 43 ls for 2 bhk. I did not like the flats though. They were spacious, but they had a dull feel to it. Also right bang behind the construction is a temple, something I'm not comfortable with since I'm not comfortable with any relegious place located that close to the residential.

    Siddharth heights - Location is not good, nearly on hill, far end of wanowrie, lonely. Since it is on a hill, need to check if there are water problems. Flats are spacious and if you like getaways with view of forest, then you will like the flats. But I dont think its good to stay with family in a lonely location. rate quoted was 3300 psf.

    * This is my personal opinion. You may like these flats, so please check them out anyway. Else if you dont mind resales, you can check out Parmar park, Parmar garden, Sacred heart town, Flower valley , Clover village. Oxford village also has budget flats, if you have a low budget*

    If you want a residence near Bishops , Kalyaninagar, then viman nagar is a good option. I personally like the mystique moods project at viman nagar. Else there are also resales at Lunkad Amazon, Lunkad Gold coast, Konark campus. Rohan mithila is also a new project in viman nagar. They are coming up with variety of apartment sizes, with different rates for floors, amneties facing, non amenites facing, rowhouses, 3 bhk, 4 bhk and what not. But I did not like their sample flat much. The bath room doors were too narrow that while i carried my son through them his head bumped into it. The kitchen is also bang in the front hall, another american style gimmick. Plus personally I do not like Rohan builders, just too arrogant.. But their rooms gave an airy appearance and enough light which gives some cheerfullness to the apartment. Many in the forum were critizing the noise from the air crafts from the airport that is bang next to the project site. But I personally do not mind the noise of the aero planes flying around.

    I am not looking around Karve nagar. So I would not be able to give you feedback on that. But Bhujbal and Kumar builders have got new projects in Karvenagar and Kothrud(There may be others too). You can check out their websites. Else you can check out resales in Swapna shilp. This project in an extremely good residential location(our landlord stays there). I havent been inside the complex, but this place is famous with Maharashtrians.
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  • Hi Navina,

    Thanks for your thoughtful advise, I appreciate your detailed analysis & recommendations.

    My budget is 35-42 lacs for 1000-1200 sq.ft. apartment.

    I thought that since the economy and other factors are in recession, RE market would be pricing down property rates. As I've mentioned in my previous posts, I can wait for possession till 2010 end or early 2011. I am really confused now...some people say this is the rockbottom of RE and prices will only go up and other say wait and watch prices will fall, the worst of RE is yet to come.

    Please advise.
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  • Originally Posted by Revolutionary_2009

    I thought that since the economy and other factors are in recession, RE market would be pricing down property rates. As I've mentioned in my previous posts, I can wait for possession till 2010 end or early 2011. I am really confused now...some people say this is the rockbottom of RE and prices will only go up and other say wait and watch prices will fall, the worst of RE is yet to come.

    Please advise.

    2010/2011? Man, why buy now? Buy later from investor & keep hunting in resale market too. Whenever you buy, wherever you buy go for ready to move in only. RE is yet to hit the bottom. I can't predict the rock bottom rates, but they will definately fall from current prices for sure.
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  • rightly said realacres.

    we need to wait further. correction is there. ready possession is next best option. It is better to purchase what is ready rather than to what will be ready after 2 years.
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  • Why are the rates increasing from past 2-3 months?
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  • Thanks for your suggestions RealAcres and RamKumar. I would certainly look for ready possession or resale flats. What would you say about projects inflight (i.e. unsold apartments in a project about to complete, 2nd phases, etc) that would be ready by end of this year?

    Coming back to my specific requirements, do you think I'd be able to get a decent 2BHK apartment within 3-5 kms of reputed schools (Bishops, Abhinav English, St. Vincents) in the range of 35-40 Lacs?

    Leveraging your expertise and experience, would you please suggest any projects that might suffice my requirements?

    Appreciate your help :)
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  • Originally Posted by shirishtiwari01
    Why are the rates increasing from past 2-3 months?


    Builders are united and discuss marketing strategy often.
    Rates are rising for the below reason:
    1) To Simulate a Bottom in RE prices is already over.
    2) To keep the buyers who bought in the last one year feel good about their investment and spread the word by mouth.
    3) To trap the buyers who are waiting for price correction feel that its over and prices will rise hereafter and These buyers dont want to miss the bus this time :)

    Rent of the property is the best indicator of demand. So may TOI articles write that there is shortage of millions of Sq feet, so demand is high, if that was the case, then rent would have been very high and would have been very difficult to find one at first place.

    On the same lines Companies hiring is the best indicator of health of the company/Economy. TOI/Obama etc keep saying that Ecomony is improving for monetry/political reasons. Do the check yourself, apply for new job and see how long it takes to find one and kind of salary offered.

    I wish all the best to all the RE bulls. Happy buying.
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  • Originally Posted by realacres
    2010/2011? Man, why buy now? Buy later from investor & keep hunting in resale market too. Whenever you buy, wherever you buy go for ready to move in only. RE is yet to hit the bottom. I can't predict the rock bottom rates, but they will definately fall from current prices for sure.


    I'd really like to believe you.

    But here's the trouble: for the past two months I have only seen the rates firming up. Prices are not running away, but most certainly the builders have got some of their swagger back. I can't for the life of me figure out how registrations in the month of August are up over last year. And now the media has started playing pied piper, too.

    I really like Viman Nagar, and I'd take any of those resales that Navina mentioned over new construction. Lunkad Amazon/Gold coast would top my list in your budget. Both have very good layouts, and their location is very good within Viman Nagar. If you get any resale at around 3500/sq ft in these two complexes, then give them a good second look.

    Happy house hunting!
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  • Originally Posted by Revolutionary_2009
    Coming back to my specific requirements, do you think I'd be able to get a decent 2BHK apartment within 3-5 kms of reputed schools (Bishops, Abhinav English, St. Vincents) in the range of 35-40 Lacs?


    In first post u written Abhinav, in second post Anubhav and third Abhinav English

    Man Abhinav Eng, Abhinav Marathi and Shi-shu vihar are in same place.....that is Erandwane.....

    Have u heared name Apate ?? Most of times and numbers of student crack SSC board.......

    It is better u suggest some project and then we will discuss abt it..........u r specifying u r specifications and area ............here no builder or broker present ............ to direct SPOON FEEDING to u..................so every person in forum specify his budget, school or office name, and tell FIND MY SUITABLE PROJECT................that is not gud rite...............move u r a s s and visit some project and then we will discuss
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  • Is there any review checklist before buying an apartment.

    Reading exisiting posts on this forum, I've realized that some technical aspects in real estate need to be reviewed before buying. After discussing with my friends who have recently purchased an apartment, I realized that the information that needs to be reviewed and analyzed before buying can be overwhelming if not studied in an organized manner.

    I reckon we can categorize the information in 3 groups:

    a) Project Analysis & Comparisons
    b) Home Loan Analysis & Documentation
    c) General Information

    Elaborating:
    a) Project Analysis & Comparisons - we need to analyze below parameters for all projects under consideration i.e. create columns for each project Mystique Moods, Lunkad Gold Coast, Luxuria, etc.

    Project LocationCarpet AreaRate per Sq. Ft.Bed RoomsBath RoomsKms from reputed schoolsKms from downtown PuneKms from major road/highwayPlayground and recreational spaceNeighbouring localitiesUnderconstruction/ Ready/ ResalePossession Date/ Month

    IREF Experts, please help adding more decisive yet detailed parameters to be considered before buying a property. This will certainly help me and I'm hoping it will help others too.
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  • Originally Posted by Revolutionary_2009
    Hi Navina,

    Thanks for your thoughtful advise, I appreciate your detailed analysis & recommendations.

    My budget is 35-42 lacs for 1000-1200 sq.ft. apartment.

    I thought that since the economy and other factors are in recession, RE market would be pricing down property rates. As I've mentioned in my previous posts, I can wait for possession till 2010 end or early 2011. I am really confused now...some people say this is the rockbottom of RE and prices will only go up and other say wait and watch prices will fall, the worst of RE is yet to come.

    Please advise.


    My requirement is also similar to yours. I am not primarily looking for a house for investment purpose. So when I find that I like the flat, the neighbourhood and it fits in my budget I will buy. I personally prefer UC projects with wait time of 6 months to a year since it will give me some breathing time to arrange for the money, but the projects should be from a reputed builder who has good completed projects to his credit and who does not have earlier controversies.

    I have also now widened my search to include Sus Pashan road. We surfed around this location last week and I liked the location. It is also well connected to camp area, the distance being about the same or even slightly lesser than from vimanagar to camp. Also there are very good schools, equally famous as the ones in camp, near this area like the Loyola (for boys), St Josephs(for girls) and DAV(CBSE board , coed),I hope you are not that particular about the board as you mentioned Abhinav vidyalaya which is state board. Even hutchings high school(ICSE board, at Phayre road) which is very famous in pune appears to be about 4.5 to 5 km from Sus Pashan road. I suggest you also go around this location to see if you like it. We are planning to visit some sites there this Sunday.
    DSK Vidyanagari - The area is 988 sqft, need to compensate a bit on the area not being 1000 sqft. Rate is 3200 psf and total comes upto ~36 ls. It has all the ammeties except swimming pool. The sales person is friendly here, need to check out if we can negotiate and the complete list of amneties,possession date etc when we visit the site. Location is behind Pashankar auto showroom.
    Nirman Eternity - These are ready possession flats. Rate is 3125 psf and max area is 1080 sqft and total is coming upto ~39 ls. This also has all the amneties except swimming pool. We also need to find out more when we visit the site. The location is opposite to Reliance fresh.

    Otherwise we have also shortlisted Mystique moods at vimannagar. The sales girl is very friendly and will negotiate. The flats are spacious. All the amenities are available. The neighbourhood is posh, good roads and i feel there is more scope for improvement here. 2bhk is from 1119 to ~1200 sqft and will work out to your budget after negotiations. The possession date is Mar 10 for 2 bhk and Sep 10 for 3 bhk.
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  • Originally Posted by razer
    I'd really like to believe you.

    But here's the trouble: for the past two months I have only seen the rates firming up. Prices are not running away, but most certainly the builders have got some of their swagger back. I can't for the life of me figure out how registrations in the month of August are up over last year. And now the media has started playing pied piper, too.

    The sole reason for prices going up:- Just to ad fear to buyers mind & then taste the waters whether the rates are sustainable or not.

    The purchases taking place are in so called affordable housing under INR 20L. Had purchases been everywhere, there would not have been ads from builders like Paranjape, Amit, Vascon, Rohan etc.

    Let the builders hike the prices by 10000%, fact remains whether the buyers & importantly the economy is ready for it.
    Coming quarter, the inflation would be 7% for WPI & over 13% for CPI. Expect an interest rate hike of 125 basis points by Feb-Mar 2010.

    Btw, the RE (Time Property, Express Estates etc) supplement with newspapers etc. has dropped significantly. It is now not more than 3-4 pages unlike 8-12 earlier. What may be the reason?
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