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quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

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quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

Last updated: January 24 2011
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  • #11

    #11

    Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

    Originally posted by ash7979 View Post
    i think otherwise...greed make them to do so....

    And we all know more more gain...no risk no gain...but you should know where to take risk...taking risk with builders (in under-construction projects) is like throwing your money in the ditch...indian builders (specially pune's local builders) are not unreliable creature on earth & i dont know how one can trust them at all

    And taking home loan is the best thing & you should not buy a house even if you can afford that without home loan.

    1.taking home loan (specially from psu bank) then they will check all the papers on your behalf, as their money is also on stake.
    2.home loan are the cheapest loan available in the market & if you can get it from some psu bank at good rate then you can earn better return from your money...(say you can get home loan less than 10% & you can get around 15% return from any good mf & that also tax free if you hold for them for more than 1 years).
    3. Home loan gives you a good amount of tax benefit.
    4. With home loan you can stretch yourself a bit to buy a better home (that you may not able to buy with the money you have at that point of time).

    And there a lots of other good points are there related to home loan..so i would always prefer minimum down payment at the time of booking & then pay with my bank as construction proceed, this way you can also minimize your risk to stuck with a builder who is building your house at slow pace & you are losing interest on your already paid money.
    agreed! :d

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    • #12

      #12

      Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

      Ashish,

      Well said. But in case of ready possession, personally I would go for max downpayment.

      No risk, no gain? True but then risk has to be calculated risk & not like jumping from plane without parachute thinking you will land in pile of hay. As you rightly said, current breed of Pune builders is full of crooks & only if we, the buyers become more aware, they will loose the RE market.

      One thinks so much while buying a car, cell fone or ladies while buying a dress, jewelry but hardly anyone cares to check the papers & cross verifies what the builder says due to which they are taken for ride.

      Like Razer said:- Promises & surprises. Sad but true.
      If you are happy, you are successful.

      Comment

      • #13

        #13

        Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

        Hey Pramod;

        Can u pass on ur number or mail id?.. would like to stay in touch to stay updated on the progress at Umang homes.

        Comment

        • #14

          #14

          Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

          Ideb springdale -wagholi

          Hey Guys;

          Does anybody know if this project is still on or has it been called off?

          Comment

          • #15

            #15

            Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

            Originally posted by realestate diva View Post
            Hey Guys;

            Does anybody know if this project is still on or has it been called off?
            This (IDEB Springdale Wagholi) project is bust. Not a stone was ever lifted here for the past two years.

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            • #16

              #16

              Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

              IDEB Sprindale Wagholi

              Enough has been written about it before...

              http://www.indianrealestateforum.com...holi-7505.html

              This one's down and out.

              I wouldn't buy in Wagholi even if someone gave me 80% discount.

              Comment

              • #17

                #17

                Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

                Hey Guys,

                Any Updates or new info about Kolte patil "Umang Homes"??

                Comment

                • #18

                  #18

                  Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

                  Umanh homes- Wagholi

                  Guys;

                  Any update on the commencement of construction? Have they started construction...any news..pls let me know

                  Comment

                  • #19

                    #19

                    Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

                    Info about Wagholi real estate future

                    http://myvishwa.com/PublicBlogs/Publ...37356331351081

                    REAL ESTATE INVESTMENT AT WAGHOLI OR KHARADI :THE NEXT VIMAN NAGAR OF PUNE (Part one)


                    Pl do not get surprised by the statement. If you evaluate this area on the basics of real estate investment you will be also in the agreement with my statement.

                    Real estate investment is always based on two basic criteria.

                    1) Appreciation of asset

                    2) Return on investment.

                    When you consider appreciation of asset; one normally thinks of annual growth of 18 to 35%

                    This growth always depends on certain growth busters for that area. The period expected to complete the development or to en cash the growth buster also plays important role.

                    Return on investment is broadly observed in terms of rentals.

                    Now if we start analyzing the growth of Wagholi & kharadi on abovementioned basis, one can easily conclude that these are very much in line with the reasons for the growth of Viman Nagar. The transformation period of Viman nagar was from 2003 to 2007.

                    During this period Viman Nagar took a jump from Rs 900/ sq. ft To Rs 5000/ sq. ft.(Residential properties)

                    Growth Busters For Wagholi & Kharadi.

                    1) Employment / Job Opportunity.

                    Eon IT Park (around 4 million sq. Ft.) Till last year occupancy level of EON IT park was poor but Since Jan 2010 companies has already started flowing in to EON.
                    Magarpatta city IT Companies
                    Ranjangaon MIDC- Approx 700 acre +
                    Sanaswadi MIDC 200 Acres +
                    In any IT company the workplace per employee is approx 100 sq. ft. But his residential requirement is in the range of 1000 to 1500 sq. ft.( i.e. ten to fifteen times of his workplace)

                    So for example for 10000 IT employees the residential requirement is in the tune of 10000 x 1000 sq. ft (min flat area). This totals to 250 Acres (10000 x1000/40000)

                    In case of Industrial area work place per employee is approx. 30 to 40 sq. ft. but residential requirement per person is Approx. 500 to 800 sq. ft

                    So now you can easily imagine the residential requirement of Wagholi & Kharadi.

                    It totals down to approx min. 4000 to 6000 Acres.

                    Considering this requirement one can easily imagine returns in a tune of 20 to 30 % per annum for next three years.

                    2) Closeness To Airport.

                    The new proposed road which starts from Shi Waghereshwar temple to Lohgaon Airport concludes with a distance of 10 Kms. The road work is already in process. Closeness to airport has played major role in Viman nagar development.

                    3) Infrastructure: Road, Ring Road, Metro, Water

                    Six lane (3+3) highway is already there

                    There is a proposed ring road

                    Metro is also proposed till Wagholi

                    Now a days no Corporation can guarantee the 24 hrs water supply but in this area Jeevan Pradhikaran is already functional and utilizing world banks aid for resolving the water problem.

                    4) Educational Institutes :

                    Lexicon and Jyotirmay international schools. Bishops is also there.

                    5) Lifestyle & Entertainment:

                    Various levels of restaurants and star hotels. ad Lab at Kalyaninagar and E Square at Kharadi. The approximate distance from Wagholi to KalyaniNagar is 8 kms.

                    6) Health :

                    No. of good multispecialty hospitals and a driving distance of 20 min from Ruby and Jahangir Hospital.

                    7) Driving distance and time from industrial area to current residence of Buyer

                    This directly affects or force buyer to change his current address to Wagholi & Kharadi.

                    For example consider case of somebody working in Ranjan gaon MIDC and currently staying at shivajinagar or Karve road area.

                    His daily travel time of one side

                    Karve Road to Wagholi- Distance 25 Km- Time required is min 60 to 80 min.

                    From Wagholi to Ranjangaon- distance 35 to 40 km Time required is 45 to 50 min.

                    So if he is going to change his address from Karve Road to Wagholi or Kharadi he is going to save 120 to 160 min per day; which he can spend with his family.

                    Considering all seven factors, I strongly believe Wagholi and Kharadi are going to become next Viman Nagar. So I will recommend this as new investment destination in Pune. One should not be surprised if per sq. ft rate for residential property at Wagholi and Kharadi, crosses a mark of Rs 4000/ sq.to Rs 4500/sq. ft in a span of 14 to 18 months.

                    Comment

                    • #20

                      #20

                      Re : quotUmangquot Project in KoltePatil townshipSplash County at wagholi is delayed

                      Toooooo much optimistic view.... I think Rohit is holding some land in Wagholi area....good try buddy...but it will take atleast 10-15 years of time to change the Wagholi

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