Property rates update Pune

Area	Rate	Updated on
Akurdi	3683 - 5554	Aug-13
Alandi	3419 - 3526	Aug-13
B.T. Kawade road	5464 - 6146	Aug-13
Balewadi	5517 - 6280	Aug-13
Baner Road	5500 - 6796	Aug-13
Baramati	2000 - 2000	Aug-13
Bavdhan	5500 - 6517	Aug-13
Bhavdhan Khurd	7112 - 7133	Aug-13
Bhandarkar Road	10300 - 14000	Aug-13
Bharti Vidyapeeth	3704 - 4734	Aug-13
Bhawani Peth	6289 - 6289	Aug-13
Bhosale Nagar	9787 - 12667	Aug-13
Bhosari	4407 - 6519	Aug-13
Bibwewadi	5791 - 7391	Aug-13
Bopodi	5155 - 5862	Aug-13
Bund Garden	9583 - 9861	Aug-13
Camp Area	7581 - 9763	Aug-13
Cantonment	3500 - 8000	Aug-13
Chakan	2510 - 2886	Aug-13
Chinchwad 33	4696 - 5304	Aug-13
Dange chowk	4673 - 5239	Aug-13
Dapadi	4509 - 5311	Aug-13
Dattawadi	3429 - 3429	Aug-13
Deccan gymkhana	13765 - 13765	Aug-13
Dehu road	3169 - 3415	Aug-13
Dhankawadi	3023 - 4404	Aug-13
Dhanori	4097 - 5027	Aug-13
Dhayari	4026 - 4549	Aug-13
Dhole Patil Road	7682 - 9047	Aug-13
Dighi	3500 - 4700	Aug-13
Erandwane	7839 - 10729	Aug-13
F.C. Road	11874 - 20170	Aug-13
Ghorpadi	3379 - 5296	Aug-13
Ghuruwar Peth	4587 - 6075	Aug-13
Hadapasar 22	3431 - 4282	Aug-13
Hadapasar 28	3928 - 5726	Aug-13
Hadapsar	3929 - 5281	Aug-13
Handewadi	3729 - 4338	Aug-13
Hinjewadi	3950 - 5077	Aug-13
Kalewadi	3934 - 5049	Aug-13
Karve Nagar	6052 - 7496	Aug-13
Karve Road	9492 - 10455	Aug-13
Kasarwadi	4848 - 5452	Aug-13
Kataraj	3528 - 4350	Aug-13
Khadki Bazaar	3378 - 3378	Aug-13
Khed Shivapur	2450 - 2450	Aug-13
Kondhwa	4271 - 5061	Aug-13
Koregaon Park	7385 - 11000	Aug-13
Kothrud	6657 - 8889	Aug-13
Kotrud 38	6750 - 7955	Aug-13
Law college road	12281 - 15000	Aug-13
Lohegaon	3788 - 3800	Aug-13
Loni road	2735 - 2735	Aug-13
Lulla Nagar	7233 - 7866	Aug-13
Magarpatta	5965 - 7097	Aug-13
Mahalunge	3600 - 3800	Aug-13
Manchar	2058 - 2284	Aug-13
Mangaldas road	9796 - 10058	Aug-13
Mahatre Bridge	9434 - 9434	Aug-13
Model colony	10965 - 14568	Aug-13
Mohemedwadi	4074 - 4815	Aug-13
Morewadi	4566 - 4566	Aug-13
Moshi	3873 - 5039	Aug-13
Mundhwa	4200 - 5770	Aug-13
Munjaba Basti	5000 - 5000	Aug-13
Munwa	7692 - 7692	Aug-13
Nagar Road	4102 - 5406	Aug-13
Nana peth	5455 - 5455	Aug-13
Narayan Peth	8720 - 9157	Aug-13
Narhe	3894 - 4507	Aug-13
Navsaiyadari	16667 - 16667	Aug-13
NIBM road	3584 - 5270	Aug-13
Nigdi	4457 - 5643	Aug-13
Panchavati	5886 - 6326	Aug-13
Panchagani	9615 - 9615	Aug-13
Panmala	7541 - 7541	Aug-13
Pashan	5516 - 6250	Aug-13
Paud road	6885 - 8778	Aug-13
PC Pimpri	3174 - 4186	Aug-13
Phursungi	3654 - 3800	Aug-13
Pimple Gurav	4490 - 5232	Aug-13
Pimple Gurav	4652 - 5608	Aug-13
Pimple saudagar	5097 - 5790	Aug-13
Pimpri Chinchwad general	4296 - 5338	Aug-13
Pirangut	3100 - 3333	Aug-13
Pisoli	4137 - 4137	Aug-13
Prabhat road	12965 - 15387	Aug-13
Pune Airport	4179 - 5728	Aug-13
Pune camp area	3607 - 6667	Aug-13
Pune sholapur road	1918 - 3382	Aug-13
Pune station	4398 - 6323	Aug-13
Pune University	5357 - 10262	Aug-13
Rahatani	4153 - 4937	Aug-13
Ranjangaon	1944 - 1944	Aug-13
Rasta peth	7438 - 8545	Aug-13
Ravet	4333 - 7159	Aug-13
Sadhashiv Peth	6975 - 9098	Aug-13
Sadhu vashwani chowk	14607 - 14607	Aug-13
Sahakar Nagar 1	5436 - 9275	Aug-13
Sahakar Nagar 2	9854 - 11379	Aug-13
Salisbury Park	11211 - 11211	Aug-13
Salunke Vihar	4643 - 5670	Aug-13
Sanaswadi	2407 - 2407	Aug-13
Sanghvi	4378 - 4927	Aug-13
Sasane Nagar	3158 - 4085	Aug-13
Saswad road	3172 - 3231	Aug-13
satara road	5556 - 5556	Aug-13
Senapati Bapat road	7205 - 10870	Aug-13
Shankar Seth road	8545 - 8545	Aug-13
Shivane	3305 - 3881	Aug-13
Sholapur	4095 - 4095	Aug-13
Sinhagad road	3923 - 6150	Aug-13
Somatane	3100 - 3101	Aug-13
sopan baug	7527 - 9976	Aug-13
Sopanbaugh	7117 - 7117	Aug-13
Sukh Sagar Nagar	4158 - 4597	Aug-13
Sus road	5756 - 6228	Aug-13
Tadiwala road	4301 - 7000	Aug-13
Talawade	3622 - 4292	Aug-13
Talegaon	2892 - 3558	Aug-13
Tingre Nagar	4392 - 5287	Aug-13
Udai baug	6193 - 6729	Aug-13
Undri	3943 - 4762	Aug-13
Urli Kanchan	2576 - 3128	Aug-13
Vadgaon BK	3818 - 4667	Aug-13
Viman Nagar	5934 - 7000	Aug-13
VL Vishrantivadi	4587 - 5496	Aug-13
Wadgaon BK	4697 - 5491	Aug-13
Wadgaon sheri	4772 - 6049	Aug-13
Wagholi	3400 - 4091	Aug-13
Wanawadi	5163 - 6623	Aug-13
Wanowrie	4737 - 6923	Aug-13
Waraje	5000 - 5867	Aug-13
Yerwada	4485 - 6500	Aug-13

Rates by Sulekha Property

ICICI Bank hikes base rate by 25 bps to 10%

Today ICICI Bank, the country's largest private sector lender, has increased its base rate or minimum lending rate by 25 basis points to 10%. The rate hike is effective from August 23, 2013.

The rate revision will make all loans and advances offered by the bank on floating interest rate from July, 2010 expensive. The bank had decided to determine the interest rates on new loans and advances, including consumer loans, with reference to its base rate with effect from July 1, 2010.

"ICICI Bank has also announced an increase of 0.25% in its benchmark prime lending rate and in its floating reference rate for consumer loans (including home loans) with effect from August 23, 2013. The above benchmark rates are used for determining interest rates on loans and advances sanctioned up to June 30, 2010," the bank said in a statement today.
The bank's fixed rate customers will not be impacted by the revision in lending rates and their contracted rates will remain unchanged.

ICICI Bank India

In the last few weeks, several private sector banks have raised lending rates as their cost of funds turned expensive. HDFC Bank increased its base rate by 20 basis points to 9.8%, Axis Bank by 25 basis points to 10.25%, and YES Bank by 25 basis points to 10.75%.

The private lenders had also raised their deposit rates before lending rate hikes. ICICI Bank had increased its deposit rates by 50-75 basis points, while HDFC Bank had revised it upwards by 100 basis points. Axis Bank and YES Bank had hiked deposit rates by 25-225 basis points.

So far, most government owned banks, including the country's largest lender State Bank of India (SBI), have not revised their lending rates.

While RBI had kept the policy rate unchanged in its first quarter monetary policy review, its liquidity tightening measures in the past few weeks have impacted short-term rates. On July 15, 2013 the central bank capped banks' borrowings under the liquidity adjustment facility (LAF) and increased the marginal standing facility (MSF) rate by 200 basis points to 10.25%.
The measures led to tightness in liquidity. Bankers had predicted if the steps were not rolled back soon short-term deposit rates would rise followed by increase in lending rates.

About ICICI Bank Ltd.
ICICI Bank is India's second-largest bank with total assets of Rs. 4736.47 billion at March 31,2012 and profit after tax Rs. 64.65 billion for the year ended March 31,2012. The Bank has a network of 3121 branches and 10486 ATMs in India,and has a presence in 19 countries, including India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking,life and non-life insurance,venture capital and asset management. 

DLF sales bookings jumps to Rs 2,430 crore in April-June

Realty major DLF's sales by way of bookings in the housing segment almost doubled to Rs 2,430 crore in the April-June period from the previous quarter on strong response for its Gurgaon projects.

DLF sold 1.81 million square feet of space for Rs 2,430 crore in the first quarter of this fiscal against 2 million square feet sold for Rs 1,240 crore in the January-March period, DLF said in an analyst presentation.

The company achieved gross sales bookings of Rs 2,430 crore during Q1 against Rs 3,800 crore for FY13, it added. Of the total bookings in April-June, Gurgaon phase 5 contributed the maximum at Rs 1,990 crore.

The company launched "The Crest," a luxury home project, in Gurgaon phase 5 to an extremely strong response and the test marketing of "The Camellias" met with an encouraging response, according to the presentation.

It sold more than 60 percent of the stock in the "MyPad" project at Lucknow at launch.

In the rental business, DLF leased 0.39 million square feet of commercial space in Q1 compared with 0.18 million square feet in the previous quarter. Rental income was Rs 435 crore out of Rs 480 crore of annuity income, it said.

DLF said gross annuity income would grow to Rs 2,000 crore by the end of FY14 from about Rs 1,850 crore in the previous financial year.

The Mall of India project in Noida with 1.8 million square feet of leasable area is in the final stage of completion and is expected to open by the end of FY14, the company said.

DLF said it continues to maintain a comfortable liquidity position with Rs 3,175 crore of cash on its books.

"With the uptick in sales bookings, which was very evident from the Q1 sales, the cash position is likely to improve substantially," the company said.

DLF has a land bank of 320 million square feet. It had 52 million square feet of projects under construction at the end of the June quarter.

HDIL Q1 net profit down by 85% to Rs 16.25 crore

Realty firm Housing Development and Infrastructure Ltd (HDIL) on  reported 85 per cent fall in consolidated net profit at Rs 16.25 crore for the quarter ended June 30 on lower sales and higher finance cost.

Profit stood at Rs 105.38 crore in the year-ago period.

Total revenue fell by 25 per cent to Rs 150.66 crore in the first quarter of this fiscal from Rs 201.16 crore in the corresponding period of last fiscal, Mumbai-based HDIL said in a filing to the BSE.

The finance cost has increased to Rs 169.34 crore from Rs 154.08 crore during the period under review.

HDIL said the company had issued 25,675 non-convertible debentures of Rs 10 lakh each aggregating to Rs 2567.70 crore, of which non-convertible debentures aggregating to Rs 1311.22 crore has been redeemed.

The board has accepted resignation of RC Kapoor as a Director of the company with immediate effect. Kapoor has resigned due to personal reasons, the filing said.

Shares of HDIL were at Rs 33.20 apiece on BSE in late afternoon trade, up 1.68 per cent from yesterday closing.

Farallon Capital exits from Indiabulls realty JVs for Rs1172 crore

Gurgaon based real estate company Indiabulls Real Estate said it has bought back 49 percent stake each held by US-based private equity firm Farallon Capital Management in its seven realty projects for Rs 1,172 crore.

Farallon had invested Rs 847.48 crore in seven projects of Indiabulls during 2006-08 and has exited at 38 percent higher price.

In a filing to the BSE, Mumbai-based Indiabulls Real Estate said "the company has purchased the entire stake of FIM Ltd and its affiliates in its seven project subsidiaries for a total consideration of Rs. 1172.16 crore".

FIM Ltd, which is managed by Farallon Capital Management LLC, held 49 percent equity stake in these JVs and had invested Rs 847.48 crore in 2006 to 2008.

With the purchase of FIM's entire stake, Indiabulls said these project subsidiaries will now be 100 percent owned by the company.

Of the seven projects, five are in Gurgaon and one each at Chennai and Sonepat.

Indiabulls Real Estate shares were trading at Rs 58.40 a piece on BSE, up by 2.37 percent in afternoon trade.

Pune's first international residential project in Kalyani Nagar.

Pune’s  real  estate market will get an international touch from Trump Organization tying up with developer Panchshil  for their first project in India.

Trump’s entry into the Indian market was announced by Trump, chairman and president of Trump Organization on his micro-blogging site Twitter that said, “Trump Organization’s first project in India, Trump towers Pune, will epitomize inspired living and timeless elegance.”

Trump is keen to launch a project in India and was looking for a right partner. We finalized on building a project in India,Trump Towers Pune, will epitomize inspired living and timeless elegance.”

The project is in Kalyaninagar will be launched for the buyers nearby October 2013.

Trump-branded residences, he says, are famous for their opulence and luxury and have dominated skylines across the world and with Trump Tower Pune launching in the city, the legacy is now incorporating itself into the fabric of urban India.

Chordia said the Trump Towers Pune will be a blend of modern architecture, cultural richness and an elite comfort,23 storeys each with 46 luxurious and meticulously planned 6100 sqft approximately.

The interiors of the project will be designed by the well known interior designer Matteo Nunziati .

Real Estate Bill Impact on property rates in India.

Will this bill change the Real Estate industry in India ? or there will be any impact on property buyers ?

Overall ,what is in store for stakeholders once the Bill takes effect ?

Indian government should ensure that the sprit of Bill is maintained and the regulator should think about the benefits of the property buyers and it does not become another department giving space for increased corruptions.

In some cities of India it is found that some developers launched projects with out all the necessary approvals.  Even some of the small developers launch their projects they collect the money from the property buyers and then they buy the land. 

I met to some property buyers they told me that at the time of booking developers shows rosy pictures in advertisement but when the project get completed the actual picture is something else. It will increase the transparency and also confidence of the buyers.

In India We have regulating body for banks, insurance, telecom, equity market but for real estate there is no regulation for real estate. Soon our parliament going to pass the Real Estate (Regulation and Development) Bill 2013.

Will this bill change the Real Estate industry in India ? or there will be any impact on property buyers ?

Overall ,what is in store for stakeholders once the Bill takes effect ?

Buyers have many reasons to cheer the real estate regulatory Bill as it includes many key provisions that are beneficial to them.The time frame for implementation of the Bill is envisaged beyond 2013 and impact of the Bill will be seen  later 2013.

After this Bill the cost for developers will increase. so can we say that that it will make any impact on property rates.

After this Bill takes place we may see a slowdown in launches of new projects, because the getting all the permissions in place is a long process. Listed real estate developers may face some concerns after the Bill is enforced.There can be also an upward pressure on prices as the builders has to wait to launch their projects with all the due approvals. However over the medium to long term, builders may see improvement in funding.

As the real estate sector is viewed as less risky, they may be able to access lower cost funding for their cash flow needs, boosting profitability. Over the next two to three decades, a cleaner and transparent real estate market, akin to the stock market, could be expected, Pointing to the complaints addressing mechanism, he was optimistic that similar to companies stating the number of pending shareholder issues, project brochures of property developers in the future may need to list outstanding complaints.

There is concern among small developers that the increased disclosure requirements may add to their costs.This Bill does not address concerns faced by property developers in obtaining permits and approvals.

. “The Government needs to ensure that the spirit of the Bill is maintained and the regulator does not become just another department giving room for increased corruption and delays,” Pai added.

Small and medium developers may face higher costs due to the vastly increased disclosures mandated by the Bill. This could also help bring in more credibility, and help attract investments from domestic and international funds.

PE investments in real estate have been decreasing in number and value this year, that offers PE funds in real estate, said this regulation would weed out short-term focused developers who entered the market for quick profit.

“The Bill may increase cost for developers but will mitigate a lot of risk in investment as there is higher transparency with the developer taking up ownership for disclosures. The uniformity of regulation and specifications across the country are positives for PE investors” said Mahipal Deora managing director BlueGate Properties.

There are, however, some concerns about property prices increasing as a result of the provisions.

Developers indicated that if the Bill increases the costs for them, it will likely be passed on to the buyer, but the timely delivery of projects may offset this cost increase.

The Bill imposes strict guidelines on advertisement and prospectus from builders and also has provisions for claiming compensation for loss caused by misleading statements.

This, along with selling based on carpet area, should deter misleading advertising and lofty promises. Buyers have had limited bargaining power and no easy recourse when the builder reneges on promises.

The provision in the Bill to set up an appellate panel to take up disputes between buyers and builders will help in the speedy resolution of issues such as delays, change in specifications, and so on that are typically faced by buyers.

Luxury destination in Pune

Earlier It was assumed Pune’s biggest advantage was the climate,culture  and connectivity from Mumbai city. Now a days pune is changing its identity It has become a destination of investment  in real estate. Pune is growing from all the corner. Now this city has become an education and information technology hub. Presence of the all top notch IT companies in pune  makes it a hot property investment destination.

The concept of luxurious flat is mushrooming across the pune city.

 Koregaon park is the place which firstly built by british. Now it has become with one of the happing area. This place is very close to boat club and race course. It also enjoys connectivity to other major area of city like Dhole Patil Road,Swargate,Camp,M.G. Road, Deccan etc. Railway station and airport are also close to Koregaon park.At Koregaon Park we find finest of cuisine restaurants,pubs,shops,fashion, brand wear etc.

Near by areas like Kalyani Nagar has become one of the most preferred location  for living. This area is very well connected from Viman Nagar, Shastri Nagar, Koregaon park, boat club road, bund garden etc. Kalyani Nagar is well equipped with all the basic amenities. All kind of fast food like McDonald’s, D-mart shopping mall, KFC etc. Some of the prominent schools like Bishop’s school, Nagarwala High School are already there.

Other side of NIBM,  Undri is developing from a small villege to developing residential hub with all kind of world class infrastructure amenities. This area also enjoys good connectivity from the place like NIBM,Wanowarie. There are many premium housing projects  which provide luxury amenities. Infrastructure is being developed . PMC is putting focus on the growing areas in Pune. Undri is also close to Magarpatta and Hadapsar which are emerging IT hub. Also the connectivity is better.

Viman Nagar is also a popular destination in Pune. In Viman Nagar also you will find IT Parks, big hotels, educational institute. This place enjoys the connectivity from Airport and other important area of Pune like Kalyani Nagar, Koregaon Park. Viman Nagar is an idyllic place for residential projects. This area is a mix of residential and commercial place.

Baner is the place which enjoys connectivity from Pune city ,Mumbai Pune High way and also Hinjewadi IT Park. Infrastructure is good, roads are wider, Hotels, restaurant,  IT companies food bazaar,de-mart  etc. attract to peole to invest in real estate in these area. Working people in Hinjewadi  IT Park finds this place suitable for stay because of the connectivity from Pune city and Hinjewadi IT park. Because of the connectivity from Mumbai Pune highway Baner also attracts Mumbai’s real estate investor's

Many factor play role in developing a luxury destination. Pune is a hub of IT techies and they are paid hefty by the IT giants. So ultimately money is coming in the pocket of the people and they need some place to invest or spend. From since last decade real estate is giving better return to investors compare to any other assets.

Difference between Resale Property and new developers projects.

It is not all about that buyers go for resale property because the buyer wants a ready possession property. There are many reasons  the buyer prefer to buy a resale property. When any buyer is going to buy an under construction property he buy that property just upon the keeping a picture in mind which a developers shows.

In Wakad (Pune) or nearby area you will find many brand new property  available for sale.But here I would like to clear one thing that a buyer get the same thing in resale property which he gets  from the builder. Still there is a huge difference in buying a property from builder and resale property.

 In resale property or ready possession property you get the flat as it is as it is visible or you can have a fair idea about flat,direction, ventilation, leakage in flat,sunlight, exact view  moreover when I can get the possession of the flat. There are many example where builder shows  the rosy picture and they provide something else. It happens with even reputed developers.

The biggest difference while purchasing a new property and resale is, in resale you have to pay all the amount in single shot so you have to be ready with the bucks before going for a deal. Some might avail the loaning facility provided by banks but for that also there is some criteria for eligibility for availing the benefits. Those who are salaried person can get it without much hurdle but those who did not have a regular income have left only option that is book the house from builder. In resale you might get property at cheaper rate but also you might miss the feeling of being first owner / occupants or fragrance of being the first opener.

Price Advantage.

 In a resale deal a buyer have an opportunity that he or she can get a property at better price compare to market price. Generally a buyer can expect  5% to 18% lesser price to developer’s price.

“Now a days buyers purchase the ready possession flat or resale flat just because they want ready to move flat but also investors are preferring to invest in resale property.Generally investor sale their property when they feel that property prices already picked or almost on saturation.For booking the profit from  the property investment they sale it lesser price compare to market price” said Mahipal Deora Managing Director Bluegate property management Pune.

Average Property Rates
City	Resale	New
Mumbai	12320	12410
Pune	6428	6495
Delhi	5995	6087
Banglore	5455	5528
Kolkata	5107	5191
source online property search portal

Transfer Fee

While purchasing a resale flat transfer fee has to pay to the developers. It is an expenses which take place to the developers to transfer ownership, and other expenses  like administrative and other documentation work related.

Transfer fee very developer to  developer .  Transfer fee very between 100 Rs per sqft to 400 Rs per sqft.

Feel Free to ask about resale and new property and real estate market Pune