Hello Guys,
I am silent reader of this forum from long time, but now wanted to share my thoughts.
I am one of the so called "LOOSER", who has the missed the bus /train in the slowdown of 2009. Since then, I was in search of property value for money.. :D which eventually made me "LOOSER" :(
Nevertheless, I am still in search for a house for my living. I work in Magarpatta and wife works in Hinjewadi. With all the exorbitant prices of Pune, I do not feel to buy, but to rent and live easy life than EMI.
Instead, I am getting motivated to Invest in city like Bangalore.
Guys, just shared my thoughts. Is it worth to buy in Pune ?? (considering an average earning <14 L) OR better to invest in city like Bangalore where I can get good apartment in < 50 Lacs.

Thanks...
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  • If you are going to be in Pune for longer period of time,It is better to buy aflat for self stay.
    All depends on your future plans.
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  • Yes brother. I am from Maharashtra and planning to stay in Pune...
    But, buying a good decent 2 BHK flat in decent locality is not less than 60 L. Hence I am thinking to rent and invest in other city. At least there, cost to rent ratio is better than Pune. So, I can recover my rent here in Pune with less EMI...
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  • Not a bad idea.But you must take into account the practical problems of looking after a flat in different city.Dont get into mental framework of the kind of terms-LOOSER.More chances will come your way and when one opportunity is lost,others come up.
    NO worries,keep sharp eye out for good properties-due diligence,RTM flat/resale flat.
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  • Better investment plan is to buy what comes into your budget now, use it for sometime, save on rent, build some cash by time, sell current one and buy next one. Bigger things come by time and in steps. just my POV.
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  • Not buying in 2009 shouldn't make anybody a loser. In 2009, I have seen flats quoted at Rs 3200 sqft. Now, similar flats (not the same, of course, but similar...PS of 2009 = Hinjewadi of 2014) are probably 5400. Mere rise of 11% per year...comparable to most asset classes.

    Even if you had kept money in fixed deposits, you would have come ahead than owning a real estate...factor in savings made on bank interest due to renting and saved property taxes, I think you shouldn't call yourself a loser.

    Now it is true that the piece of RE that you were eyeing in 2009 could have gone up by 100% - 200% in last 6 years, but its still not that bad. Take your time, enjoy the discounted living at the cost of 'investors' and start looking.
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  • Originally Posted by NG2012
    Not buying in 2009 shouldn't make anybody a loser. In 2009, I have seen flats quoted at Rs 3200 sqft. Now, similar flats (not the same, of course, but similar...PS of 2009 = Hinjewadi of 2014) are probably 5400. Mere rise of 11% per year...comparable to most asset classes.

    Even if you had kept money in fixed deposits, you would have come ahead than owning a real estate...factor in savings made on bank interest due to renting and saved property taxes, I think you shouldn't call yourself a loser.

    Now it is true that the piece of RE that you were eyeing in 2009 could have gone up by 100% - 200% in last 6 years, but its still not that bad. Take your time, enjoy the discounted living at the cost of 'investors' and start looking.

    Thank you all friends. It feels better with mental support from a group like this. :)
    It is just that social and peer pressure, that haunts me again n again... :bab (45):
    but, yes I will not stretch myself unnecessarily. I will think well before investing in such big amount. Thanks again brother...
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  • ITSAMB,

    Who defines a looser ? Is it the builder or your peers ? First get this point straight.
    If you feel that its you who should decide who you are, think about this :-

    > Things which you did due to amount saved in EMIs,
    > The savings & corpus fund you got,
    > The mental peace of mind,
    > Less to bother about of hike in interest rates & inflation,
    > Quality of life which you are enjoying now........& the list can go on.

    Man, even putting money in FD would have fetched better returns than RE, not to forget the 20-30% capital gains tax in RE + the taxes you pay at the time of registration. Real returns in RE in past couple of years have been negative.

    I am staying on rent despite the fact that I can buy the same flat at current market rates & no it doesn't feel bad at all to rent. Infact, I am enjoying hyped up RE at fraction of cost of ownership.

    And no matter what, be it RE or non-RE issue, never be driven by what your peers say.
    Understand that no matter what you do, you will find people who will try to show how you are a looser.

    Eg. My friend purchased VW Vento with 100% down-payment. His friends called him idiot because according to them, he should have taken loan & should have purchased Skoda Laura or Hyundai Elantra, but my friend is happy with Vento & is not bothered about car loan EMIs either & in my case, some call me looser as I don't have a gf.

    Hope this makes you feel better about yourself. :)
    Cheers.

    Originally Posted by NG2012
    Not buying in 2009 shouldn't make anybody a loser. In 2009, I have seen flats quoted at Rs 3200 sqft. Now, similar flats (not the same, of course, but similar...PS of 2009 = Hinjewadi of 2014) are probably 5400. Mere rise of 11% per year...comparable to most asset classes.

    Even if you had kept money in fixed deposits, you would have come ahead than owning a real estate...factor in savings made on bank interest due to renting and saved property taxes, I think you shouldn't call yourself a loser.
    Take your time, enjoy the discounted living at the cost of 'investors' and start looking.

    +1. Good post NG2012.
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  • Real acres,
    The term looser which is going around is actually a misnomer.
    It builds pressure on people to take gambles on u/c property- I have my investment in X property-you are wasting your money-Come on rush,stand in queue and pay booking amount today or you will loose 100 per sq ft.benefit which is only for today.
    Dont rush into deals like this
    Secondly live within your means.
    I used to own a Maruti van which was 10+ years old -but no emi.I use a 8 year old scooter but some of my neighbours use Skoda but on EMI.
    You decide your life style not your buddies or neighbours:D But I disagree about flat ownership and living on rent.Pleasure of ownership is entirely different.
    Real acres, Not having Gf,I want you to read Kartik pais thread-one person offered him a flat with benefits-flat with wife.:D
    :D
    Worldly Possessions and bank balance should not define your personality.
    Your knowledge,ability to do things and personal helpfulness is the essence of a human being.
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  • Hi,
    Definitely pune is worth for investing, because Pune is very fast growing city with all the needs. In future if you need to sell that property you will get good amount.
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  • Originally Posted by Dimpisharma
    Hi,
    Definitely pune is worth for investing, because Pune is very fast growing city with all the needs. In future if you need to sell that property you will get good amount.

    Given the condition that the city has currently, it looks as a waste of money. If I stay near hinjewadi, I get killed everyday in traffic to reach office to other side. Same other way. :bab (59):
    I do not feel value for money and quality and standard given compared to the money I have to pay. No wonder many here are ready to compromise on that.
    May be you are true on the return in future.. :bab (38):
    but its good for people who are looking for investing, with lot of money and no where to park.
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