Hi Everyone,

From everything I've read, it looks like Hinjewadi has a lot of scope for appreciation and so considering a real estate investment in this area. Budget within 1-1.1 CR. Based on my research and properties seen, 2 that stand out:
Megapolis - launching Mystic premium building soon quoting 5075 per sq ft (works out to 73L for 2 bhik, 85L for 2.5, 1 for 3). Delivery 2016.
Kasturi EON - quoting 5450 per sq ft - Delivery similar cycle.

Few questions:
- Would you recommend a 2/2.5/3 bhk for investment in this area?
- Your recommendations

I'm not from Pune - so trying to get more inputs from locals before making a decision.

Thanks!
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  • From everything I've read, it looks like Hinjewadi has a lot of scope for appreciation and so considering a real estate investment in this area"
    Read the pros and cons of the area before deciding.
    Visit the place yourself and then see how it feels and looks like.
    Those who post the views may not be locals.
    If your budget is 1crore+,why only Hinjewadi area,there are other areas of Pune which are better.

    My suggestion is to do far more home work before zeroing on Hinjewadi.
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  • Hi Vaibhav,

    Thanks for your input. I did read the pros and cons based on which I shortlisted that area as potential. Had visited the area on Sunday and seen the properties mentioned above. I liked the infrastructure in the area, water supply taken care of etc. Given the SEZ and the companies in that area with the plans to expand Hinjewadi into more phases, closeness to Mumbai side, this looked like a very good option.

    In case there are any other areas you'd recommend, do let me know and I'll factor them into the research.

    Thanks.
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  • Viman nagar,Aundh,Baner etc may be considered.
    Read all the negatives of Hinjewadi also and factor them in.
    Crime rate is one negative. Travel from City to Hinjewadi is one hell of an exercise.
    My point is when your budget is 1crore +,think even of hiring a good broker to search for properties.
    But one larger question you need to ponder is this the time for an RE investment?
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  • That area is still way out of the city with nothing around except IT company campuses. On the other side of the road is a dried jungle.
    After crossing the Tech M building, there is nothing on the road, it has a deserted feel after evening.

    Regarding both these schemes, note that both of them are under leasehold land. Do go through dedicated threads of these two on this forum. I am not sure how they are taking care of water supply though. Both these schemes come under gram panchayat, that is another negative..

    Regarding investment, I think it is overpriced. I have heard news of resale flats in Megapolis smart homes but no buyers even at 60L. To the prices you have quoted, add 10% -12% for myriad taxes and maintenance charges etc. You will not be at a loss but your returns will be lower because you entered at a higher cost. Go for it if you think you have capacity to hold for longer period.

    If your choice is limited to only these two, I would go for EON homes - better construction quality and better floor plans.
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  • Check out Kharadi which in my personal opinion is better than Hinjewadi. Better roads since its built by private players. Large work force due to EON, Viman Nagar and Yerwada in proximity. It has great malls/star hotels in close vicinity.
    Water is an issue but not in all projects. You can pick ones which dont have water issues. This area is also close to posh locations like Kalyani Nagar and Koregaon Park + Airport.
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  • Originally Posted by Sat234
    That area is still way out of the city with nothing around except IT company campuses. On the other side of the road is a dried jungle.
    After crossing the Tech M building, there is nothing on the road, it has a deserted feel after evening.

    Regarding both these schemes, note that both of them are under leasehold land. Do go through dedicated threads of these two on this forum.

    If your choice is limited to only these two, I would go for EON homes - better construction quality and better floor plans.

    Regarding investment, I think it is overpriced. I have heard news of resale flats in Megapolis smart homes but no buyers even at 60L. To the prices you have quoted, add 10% -12% for myriad taxes and maintenance charges etc. You will not be at a loss when you buy but your returns will be lower because you entered at a higher cost. Go for it if you think you have capacity to hold for longer period. Again, i would prefer EON homes.


    I do not completely agree with your view of Hinjewadi being completely out of the city.

    I stayed in Pune for a couple of years next to Hinjewadi. And although the public transport system of Pune is nothing much to write home about the place is not badly connected if you own a vehicle. It takes at most 25-30 minutes to reach the hep places like Koregaon Park and 10-15 mins from University Road and FC Road. There is also not much of a traffic problem in Pune, unless you are visiting some of the interiors Someone also mentioned Baner - and that is only 5-8 mins away from Hinjewadi. I wouldn't discount this area based solely on it being in Hinjewadi - and it also has its advantages like many IT companies, etc having offices there.

    I would advise the original poster to check with friends and family in Pune to know more about the exact location and its advantages/disadvantages.
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  • Blueorigin,
    That is what is being advised by members.
    Visit consult,discuss before investment is to get better info for decsion making which should be your onw .
    Input from many but decsion by self after all it is your money.
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  • Thanks everyone. In terms of right time to invest, always have someone saying not the right time. Deciding to go for it provided the investment option makes sense and I see scope for appreciation over a 5 year horizon.

    While I agree hinjewadi is out of city center boundaries right now, the fact is with so many companies coming up, I don't expect development in terms of commercial malls/theaters etc to be far behind. Water supply for the project was from a dam closeby (they mentioned the pipeline has been laid 6 months back).

    Kharadi - do you think there is still scope for future appreciation in prices given the benefits mentioned above are already built into the prices?

    I had spoken to a developer friend in Pune and he recommended Hinjewadi. Trying to get more opinions before I make a decision.
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  • Originally Posted by vaibav123
    Blueorigin,
    That is what is being advised by members.
    Visit consult,discuss before investment is to get better info for decsion making which should be your onw .
    Input from many but decsion by self after all it is your money.


    Dear Vaibhav,

    Agreed. :)

    I was just trying to put in my 2 cents with regards to Hinjewadi because to somebody unaware of Pune these comments about Hinjewadi being right next to the jungle might dissuade him from making a potentially worthwhile investment. I know of people who have recently bought 2BHK homes in places like Balewadi at 76L etc. And while the market might be down ('no buyers even at 60L') - wouldn't conventional wisdom suggest that it would be the best time to buy if you can afford it?

    I agree with all points of opinion and feel that having resided in Pune for a while I would also give mine. I think getting all kinds information - both negative and positive - from like-minded people in this forum would only help a potential investor. This community has helped me immensely already.

    Hope the OP finds what he is looking for. :)

    Blue
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  • Originally Posted by MovetoPune
    Thanks everyone. In terms of right time to invest, always have someone saying not the right time. Deciding to go for it provided the investment option makes sense and I see scope for appreciation over a 5 year horizon.


    I am in the same situation with regards to you about investing in Mumbai. When the market was booming I was asked to hold back till it settled down and declined, and now that it is in a downturn there are recommendations for us to wait while it settles. I understand all of these point of views but someone suggested something here which struck a chord with me.

    I am also a first time buyer, so please take this with a pinch of salt, but conventional wisdom would suggest that you should buy while the market is in the downturn to get maximum returns when it finally starts booming. Economies of all countries seem to follow a cycle and there should be an incline in the somewhat-near future. Now to maximise your return you would have to invest when the economy is in the nadir of its depths but that would require a lot of analysis and a lot of luck. So basically if you think you can afford it and the potential return outweigh the potential risks, you should go for it instead of waiting to perfectly time the market.

    Also, the people here are very knowledgeable and obviously very helpful (which is why I am here) and have been/are in the same boat as us - so take a call on your personal situation and the advice from here and you should be in relatively good stead.

    Hope you find what you are looking for.

    Blue
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  • Originally Posted by BlueOrigins
    I do not completely agree with your view of Hinjewadi being completely out of the city.

    I stayed in Pune for a couple of years next to Hinjewadi. And although the public transport system of Pune is nothing much to write home about the place is not badly connected if you own a vehicle. It takes at most 25-30 minutes to reach the hep places like Koregaon Park and 10-15 mins from University Road and FC Road. There is also not much of a traffic problem in Pune, unless you are visiting some of the interiors Someone also mentioned Baner - and that is only 5-8 mins away from Hinjewadi. I wouldn't discount this area based solely on it being in Hinjewadi - and it also has its advantages like many IT companies, etc having offices there.

    I would advise the original poster to check with friends and family in Pune to know more about the exact location and its advantages/disadvantages.


    >> It takes at most 25-30 minutes to reach the hep places like Koregaon Park and 10-15 mins from University Road and FC Road.

    Really? 30 minutes to Koregaon Park from Hinjewadi? Only on a Sunday afternoon probably.

    Do check out the future of Hinjewadi thread if you want more info.. During peak office hours, you cannot even reach the hinjewadi flyover in half an hour !!
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  • Originally Posted by BlueOrigins
    Dear Vaibhav,

    Agreed. :)

    I was just trying to put in my 2 cents with regards to Hinjewadi because to somebody unaware of Pune these comments about Hinjewadi being right next to the jungle might dissuade him from making a potentially worthwhile investment. I know of people who have recently bought 2BHK homes in places like Balewadi at 76L etc. And while the market might be down ('no buyers even at 60L') - wouldn't conventional wisdom suggest that it would be the best time to buy if you can afford it?

    I agree with all points of opinion and feel that having resided in Pune for a while I would also give mine. I think getting all kinds information - both negative and positive - from like-minded people in this forum would only help a potential investor. This community has helped me immensely already.

    Hope the OP finds what he is looking for. :)

    Blue


    Megapolis is cramped like anything. It looks like police barracks to me from my office window. Beyond phase 3, there is nothing but barren empty hills (which are green only for a few months in monsoons), it is a jungle really. So called Phase 4 is going to be between phase 1 and 3, so phase 3 can be considered the western edge of hinjewadi.

    For investment, if you are calculate purely from expected returns from investment perspective, then probably Punawale or Wagholi (like Mithunsainan said) are better deals.

    >>> And while the market might be down ('no buyers even at 60L') - wouldn't conventional wisdom suggest that it would be the best time to buy if you can afford it?

    My take is that there is lot of inventory available at lower prices. If purpose is investment, it will take quite some time to appreciate. Already builders are fleecing investors (increasing the cost of entry by promising huge and almost assured returns) in Hinjewadi. Selling it in five years (as OP said that was his time frame) might be difficult, and may not give you 10% yoy returns.

    Already Blue Ridge in Hinjewadi is charging 1.3 Cr + all incl for 3bhk. I still keep getting calls from them. Better to buy for 80L in Wakad and save 40L!! Appreciate to dono honge. It is about entry cost and rate of returns. Just calculate, dont just rely on vague predictions.

    >>> conventional wisdom would suggest that you should buy while the market is in the downturn to get maximum returns when it finally starts booming.

    Then why dont we see people rushing to invest in real estate! And you dont know when it will start booming. so what is your rate of return in that scenario if prices dont rise much for 1 year? 2 years?

    Anyway, I gave the option.. if you wish to invest in Hinjewadi, EON is better. has better plans and constro quality.
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  • Originally Posted by Sat234

    >>> conventional wisdom would suggest that you should buy while the market is in the downturn to get maximum returns when it finally starts booming.

    Then why dont we see people rushing to invest in real estate!



    wisdom by construct is not available to masses ...thats why it works
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  • Originally Posted by Sat234
    Megapolis is cramped like anything. It looks like police barracks to me from my office window.


    Can you highlight which project at that cost looks more elegant ?

    don't rant for the sake of it...people spend their lifetime savings to buy a home and naysayers call it piegonhole...then why do you waste your time in Pune ? Move to Amravati and live in spacious Villa @80 lakhs
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  • Originally Posted by Baruch
    wisdom by construct is not available to masses ...thats why it works


    Not sure what you meant. What I meant was that there are other uncertainties. You cannot predict prices. What if I think prices are low so I rush for investment. But prices slide further and it barely breaks even in five years.

    Any axiom like - buy when prices are low - does not mean it is always right. Just predicting by guessing wont work. Analysis of what is going on is important. See the number of unsold inventory. Current price trend. Delivery quality. Etc. Just following a friend who made a killing in RE might not work.
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