[blorebuddy]

Originally Posted by Spitfire

Are you a lawyer?

No Sir. If I am a lawyer I would have asked my lawyer friends

[Spitfire]

Originally Posted by blorebuddy

No Sir. If I am a lawyer I would have asked my lawyer friends

Then thats what you should be doing. Asking the questions and reviewing the papers from a qualified lawyer. Trust me today there is so much of fraud going around. That the line between the legal and illegal is very thin.

[Spitfire]

Guys, I have a strong hunch. 2012 is going to be a good year for buyers. Start saving for that dream home now. Things are not looking too good in the realty business. And the dip is somewhere around 2012.

i.e Unless the Mayan Calender gets us by then.

[benbsb29]

Originally Posted by BaCkSeAtDrIVeR

Part 2 - the dramatis personae

Verify if builder's financing burdens will not cause a domino effect on the building / flat you are purchasing. This requires a bit of explanation. Builder can, and will raise money, and may create a charge on his assets, in favour of their bankers / financiers. No prizes for guessing what happens if you end up buying a part of property so pledged to a bank and builder defaults in his loans after taking the full payment from you.

Very true. In the case of my apartment, the builder had taken a loan against the project from SBI bank. When HDFC was processing my home loan, they made sure the builder got an NOC from SBI against the particular apartment, before they approved the loan.

[mjothi]

Originally Posted by Spitfire

Guys, I have a strong hunch. 2012 is going to be a good year for buyers. Start saving for that dream home now. Things are not looking too good in the realty business. And the dip is somewhere around 2012.

i.e Unless the Mayan Calender gets us by then.

Reasonable, yes.

Gonna correct? No.

The buying power of people in the range above 60-70Laks have almost come to end.

This is clearly seen as many big time builders are targeting the low / middle range of 25-40Lacs budget.

In other words, the demand for houses in this range will never reduce. May be a small zig-zag pattern, but the overall picture is a rising line.

[mkh]

Originally Posted by mjothi

Reasonable, yes.

Gonna correct? No.

The buying power of people in the range above 60-70Laks have almost come to end.

This is clearly seen as many big time builders are targeting the low / middle range of 25-40Lacs budget.

In other words, the demand for houses in this range will never reduce. May be a small zig-zag pattern, but the overall picture is a rising line.

Any reason that you say "The buying power of people in the range above 60-70Laks have almost come to end."
Considering the high end projects that are launching and the land rates around the city, i don't think so. What builders have realized is that there is also a big segment for lower end, which may have more growth %.
Just to name a couple Salarpuria and Prestige have launched 1 crore + segment projects, the latter has also launched a lower end one recently.
I agree with you, prices will not fall, only new launches will slow down maybe and prices may stagnate, no falls.

[download2live]

Real estate prices will never come down as long as there are people with black money stashed away. A little hiccup maybe. But a big US style crash of prices. A STRICT NO.

So people already having good properties(all EMI paid off) keep grinning.
People paying EMI, keep bleeding.
And rest of us, Keep looking.

[Spitfire]

Originally Posted by mjothi

Gonna correct? No.

YES!! It will. Not huge percentages but it will.

Originally Posted by mkh

I agree with you, prices will not fall, only new launches will slow down maybe and prices may stagnate, no falls.

Stagnating == falling. Negative growth.

Originally Posted by download2live

A STRICT NO.

Never say never. Like I said I reckon this will happen there are some signs out there. We will wait to see this in news and other items.

Until then get those savings going.

[Amazing]

** I am not able to locate any dedicated thread on real estate situations in PUNE.

Regarding this real estate thread,I am referring to Pune, PCMC and its surrounding area in this context. It would be good if the BHPians share the availability , need of any specific areas and others can directly feed the response. I am sure that this will provide us better information than brokers and the recommendations by fellow BHPians are definitely valued with a premium by others.
We can directly mention the availability ,builder names,psf rates of flats, houses etc of any areas of your interest in Pune/PCMC region which can be extremely useful for others while making a crucial purchase decision.
Also, we can look at the ways rents are going in any areas, or how one can use his (un)furnished flat for corporate leasing also.

I am sure this thread will be extremely useful for all Pune BHPians.

MODs:- If you find this thread a duplicate/repetative, pls delete it without hesitation.

[condor]

@Spitfire / anyone else:
what is the typical UDS % that you see ? What is the high /low values ?

One apt I saw showed UDS at 0.81%. Feels low. But is it too low ?

[Spitfire]

Originally Posted by condor

what is the typical UDS % that you see ? What is the high /low values ?

That means the undivided share for each apartment (considering each apartment has equal superbuilt up area) is .81% of the total land area. That's way low.

But the calculations done here hide a lot. And some don't really understand Undivided Share technically. Superbuilt up area is a big issue here.

Whats the land area, number of flats (the superbuilt up area of each flat, again all equal sized, if not individual flats with superbuilt up area).

The calculation is quite simple.

UDS = Each Individual Apartments superbuilt up area
-------------------------------------------- x Total Land area
Sum of all Apartments superbuilt up area

Another bigger scam that you need to watch out is undivided share and common area are terms that are played with my the builders.

Mantri builders says common area is their property. So ideally you just buy a part of the building. LOL!! The scam in this is your building depreciates the land does not. Guess who wins when the building comes down after 2 decades.

EDIT: The post is messing the equation above. Hope you guys get it though. If not I will paste an image instead.

[condor]

@Spitfire, the formula is available. The figure I quoted sure is low, but how do others fare ?

There are 98 flats in the building. Does it not sound logical if 100/98 = 1.02 (assuming equal SBA of all flats ? With some being 4BHK, the % will be a lil higher than the avg (1.02%).

Since this is calculate as a %, 0.81 should still be fine ? Or am I missing something ?

eg:
60 x 2bhk = 30 x 1200 = 36000
34 x 3 bhk = 34 x 1600 = 54400
4 x 4 bhk = 4 x 2000 = 8000

total sba = 98400

UDS per 2bhk = (1200/98400) x 100 = 1.2%

if I include club house etc, say - 10000 sq ft
then total sba = 108400
& hence UDS per 2bhk = (1200/108400) x 100 = 1.1%

In the particular figure I quoted, the apt is a smaller one (other 2bhk's are bigger). The UDS would then be lower than the avg UDS of the 2bhk's.



Wonder how does Mantri say that the common area is their property ? Dont they hand over the entire property to the society ? What is the UDS of a typical Mantri apt ?

[download2live]

Anyone going for Prestige Tranquility. Seems decently priced. Actually too decently priced for the builder of repute. Any catch?
Is the location bad?
Or some land issues? Water Issues?

[lambuhere1]

Originally Posted by download2live

Anyone going for Prestige Tranquility. Seems decently priced. Actually too decently priced for the builder of repute. Any catch?
Is the location bad?
Or some land issues? Water Issues?

You might as well be interested to look at Prestige Parkview, near Hope Farm circle, ITPL, Whitefield. Have a look. Googling might be a bit help in here.

[Spitfire]

Originally Posted by condor

@Spitfire, the formula is available. The figure I quoted sure is low, but how do others fare ?

And that's the issue with UDS and the associated scam that goes with it. The formula gives the right figure but what happens is the actual measurements don't add up.

Any figure would add up. Problem is how do we make out it is the right numbers being given.

As an aside. I used to have a infrared hand-held device to check the accuracy of the area quoted. 8 out of 10 times it used to not add up.

Originally Posted by download2live

Any catch?Is the location bad?Or some land issues? Water Issues?

Sign of times.