Pune, Paradise for weekend home for Mumbaikar.

Are you a Mumbaikar ?

Looking for a weekend home or second home ?

Then right place is Pune, Now you must be having so many questions in your mind. First why Pune  not Lonavala or any other hill station ?
In some last few years Pune has become an attractive location for second home buyers or we can say weekend home buyers. There are many reasons home buyers are preferring Pune. Proximity from Mumbai City and the growth of city, presence of many MNC IT companies in Pune, comparatively  and the most important whether of city attracts Mumbaikar to invest in second home in Pune.

Higher rental incomes and lower prices are also one of the factor makes it attractive. Distance between Panvel and wakad is only 90 minutes travel from Mumbai Pune express way. Wakad, Hinjewadi are attractive location in Pune for Mumbaikars, Infosys, wipro, IBM, TCS, cognizant etc. are few names of IT companies located at Hinjewadi IT park. In western Pune area most of the home buyers are from Mumbai.
They gives the flat on rent or they use it for weekend visit.

There are many townships of reputed developers in Hinjewadi like Blue ridge from Paranjape developer, Life republic from Kolte patil developer and Megapolis from Kumar builders are few names of the township which are developing in more than 100 acres area.

PCMC's biggest property Exhibition On 8th & 9th Nov. 2014

The Times of India presents Times Property Showcase 2014.

PCMC's Property Exhibition 2014

 Presented by Times property.

Timing:
10:30 AM -7:30 PM


Venue Adress:
Near Empire Estate,
Chinchwad,
Entry next to Demart

Why developers do not prefer to construct small homes?

Are you planning to buy one bhk home in Pune ?
Are you trying hard to find one bhk home ?
What are the reasons why it has become difficult to get one bhk home in Pune. There is a demand of one bhk still why developer have focus on bigger homes (two and three bhk) ?

These all question will be in your mind if you are a home buyer and searching for one bhk in Pune.

I met to Mr. Ravikant who is searching one bhk home at Pimple saudagar and Wakad area since last more than six months.

"Why it has become difficult to buy one bhk home" ? I asked to Mr. Ravikant.

" I am working with TCS Hinjewadi and I stay at Kharadi which is a bit far from Hinjewadi and It is not easy for me to travel from Kharadi to Hinjewadi so I decided to buy one small apartment near to Hinjewadi." He said.

" I have visited to so many developer but still not getting" He said.

"If you are not getting from developer than why don't you try for a resale home." I said.

"You know one bhk is selling like a hot cake. It is not easy to get one bhk resale or ready possession home in this locality still most of the developer are offering two and three bhk homes." He said.

"Most of the developer construct two and three bhk.May be these houses are more beneficial for developer." He said.

"Even I have seen some developer offers one two and three bhk all three options but for one bhk they charge higher comparatively to two and three bhk." He said.

Hinjewadi or Wakad, Where to Invest ?

 Why should I invest at Hinjewadi?
 How much return will I get over a period of time?
 How much is the rental income I can get from my property investment?
 Confused between Hinjewadi and Wakad?

 If you have these all questions in your mind than this blog can help you out to know in and out of Hinjewadi.

Hinjewadi a well known location for property investors in Maharashtra. Hinjewadi is located near to Mumbai Pune express way . Hinjewadi is the biggest information technology hub of Maharashtra . Many reputed IT companies like Infosys, Wipro, TCS, Tech Mahindra,Accenture etc. have their presence there.More than 60000 thousand people are working there. 

 This place is 90 minutes from Panvel Mumbai, travelling distance through highway. Hinjewadi does not come under PMC or PCMC it comes under Gram Panchayat Hinjewadi. 

Because of this development and employment in this vicinity there are  many residential and commercial projects are constructing across the area.

Three big residential townships with more than 100 acres area  are developing by various developers in Hinjewadi.
  Pranjpe’s Blueridge,  Kumar developer’s Megapolis and Kolte Patil’s Life Republic are some of the names of big township which are developing in various areas of Hinjewadi. Hinjewadi is one of the area which is developing very rapidly. 
Most of the area of Hinjewadi IT park comes under MIDC.  

In a survey by a newspaper shows that in next five year Hinjewadi would be in the list of top five property  appreciating area.

Well known  location in Hinjewadi
Phase 1
Phase 2
Phase 3
Hinjewadi Chowk
Blueridge township
Megapolis township
Life Republic township
Marunji road

Wakad is also very close location from Mumbai Pune express way. It is very well connected to Hinjewadi information technology park. Recently PCMC has taken this area under their wings. 
 Well known location in Wakad
Wakad chowk
Bhumkar chowk
Dangi chowk
Kalewadi phata
Kaspate vasti
Datta mandir lane
park street township

Wakad is located very close to Mumbai Pune express highway. 


Earlier Wakad  was known as a village but after taking this area under PCMC it is developing like anything. Wakad is one of the fastest growing area.
 PCMC has developed roads, flyover, water supply, street light. It is a suitable place for working people in Hinjewadi. Dutta Mandir lane,Kaspate vasti,bhumkar chowk, Dangi chowk,kalewadi phata are some of the well known name of location  which are located in Wakad.

Wakad has changed in last five years because of PCMC's fast decision taking ability. PCMC is way ahead from PMC in implementing development projects. 

Wakad is the most preferred area for property buyers who works in Hinjewadi IT park. I met to many property buyers who were searching their dream home in Wakad. Just two days back i met to Mr. Vishwas who works with Wipro IT company in Hinjewadi.

 I asked him " Why did you choose Wakad location for your home ?"

"Wakad is very close to my office which is in Hinjewadi, I am basically  from Mumbai and on every weekend i have to go to Mumbai. So Wakad would be the best location for my home and also it would be more convenient for me to travel to my office and Mumbai. " Mr. Vishwas property buyer replied. 

"Is location very important factor while deciding to purchase a house ?" I asked.

"I can not  say that location is everything for any property buyer. It depends on many things  because for me i don't know for how long i would stay here. I am working with Wipro an IT company and company can change my work location at  any time. So i am buying a house not for only my residence but it would be a good investment too because if i don't stay here i can rent out my home and even there is a enough demand for rental accommodation." He replied.


Other blogs of Vikram Ranawat:

Why developer do not prefer to construct small homes:


Green Valley Project Wakad Review:

Green Valley Project Wakad Project Review.

2,2.5,3 BHK Flat in Green Valley Project

Green Valley Project (www.aswaniassociates.com)  is located at kaspate vasti area near to mankar chowk waked Pune. This project is located at distance of 400 meter from mankar chowk. Green Valley Project  is developing by Aswani’s developer. Project offers 2,2.5 and 3 bhk flats.

I planned to visit this project I entered into sales office of green valley project and met to a sales person Tripti. 

“What is your requirement 2,2.5 or 3 bhk”.  She asked.

“I am not a buyer I am a blog writer just want to know some information about this project. Will you help me for this ?” I replied.

“Sure ! why not” She said.

“I have some questions about this project. “ I said.

“OK !  So what you want to know ?” Sales person Tripti said.

She took out a brochure and put it on table. She started to explain me about this project. She also shown me the layout of the flat. There were 8 different type of layout of 2bhk flat with different different salable area. 

“What is difference about these all layout plan of 2 bhk flats ?”  I asked.

“Layout of all 2 bhk flat are same but the difference is only in size of terrace.” She replied.

 I came to know 2bhk flat with salable area of 1014 sqft will cost to a buyer 61.96 lakhs rupees and 2bhk with salable area of 1124 sqft flat will cost 68.14 lakhs Rupees. So 110 sqft terrace will cost to a buyer around 6.18 lakh rupees. 

For just spacious terrace if a buyer will have to pay around 6 lakh rupees more . “Will it be a wise decision to buy 1124 sqft(spacious) flat ?” I asked to myself.

Here  I am sharing you the cost details of various types of 2 bhk flat.

C & D wing	C wing	C wing	C wing	D wing	D wing	D wing
	Odd flr	Odd flr	Even flr	Odd flr	Even flr	Even flr
Area	1014	1030	1060	1026	1113	1124
Rate	5100	5100	5100	5100	5100	5100
MSEB	90000	90000	90000	90000	90000	90000
Club house	75000	75000	75000	75000	75000	75000
Misc. exp	15000	15000	15000	15000	15000	15000
Others	200000	200000	200000	200000	200000	200000
Stamp duty	333100	338000	347200	336800	363400	366750
Registration	30000	30000	30000	30000	30000	30000
Service tax	171550	174100	178800	173450	187150	188900
VAT	55550	56350	57900	56150	60600	61150
Maintance	45000	45000	45000	45000	45000	45000
Legal	10000	10000	10000	10000	10000	10000
Total	6196600	6286450	6454900	6264000	6752450	6814200

Sales Office and entrance gate of Green Valley

 

Actual Construction site of Green Valley of Wakad

Construction Site of Green Valley Wakad

Individual Bungalow in center of Green Valley Project

Construction Site of Green Valley

Mankar Chowk Wakad

Kaspate Vasti Area Wakad

2 BHK layout of Green Valley Project Wakad

2.5 BHK flat layout of Green Valley Project Wakad

Layout Plan of Green Valley Project Wakad

Amenities Area  of Green Valley Project Wakad

Floor rise charges.

From 5^th to 7^th floor developer is charging 100 Rs. Sq. ft. extra and from 8^th to 10^th floor Rs. 150 sq. ft. I never understand why any developer charge floor rise.

I wanted to see sample flat but it was not ready. Then I aked to sales girl to show me the construction site. We both together visited construction site. There I found an individual bungalow.

“What is this ? Individual bungalow just in the center of project.” I asked.

“This bungalow belongs to the land owner Mr. Mankar” She replied.

“Will you keep this bungalow as it is or will you demolish it ?” I asked.

“We are planning to demolish it and will reconstruct it.” She replied.

I have shared some photographs of this bungalow in this blog. I wanted to know about the developer’s previous project work. I asked to the sales person about previous project in near by area. 

“We have successfully constructed ‘Greenlands’ and ‘Divya Height’ project in Pimple saudagar these project are located hardly 3 k.m. far from this area.” She said.

“Thanks for giving me all the information about this project. I would like to visit your’s previous project ‘Greenlands’ Pimple saudagar.”  I said.

“Sure” She said.

Immediately I went to’ Greenlands’ project. There I found one old person was walking with a kid. 

“Are you flat owner or did you buy any flat in this project ?” I asked to the old person.

“No I don’t stay here I came here for vacation my son stay here and he bought flat one year back” old person said.

“How is your experience with this project or what is your feedback about developer ?” I asked.

“We are not happy with the quality of construction of this project windows and doors are also cheap quality. There are many pitty issue which is discussed by the flat owners with the developers many times.” He replied.

“This developers delayed the possession ?” I asked.

“Possession was given on the time it was not delayed.” He replied.

“Thanks for giving me the information” I said and returned back to my place. 

  Review of Green Valley  Project

Positive Points of Green Valley Project

1) Location Advantage

2) Suitable for Working people in Hinjewadi

3) Project having all the basic amenities in the premises

4) All kind of market,shops,ATM's etc at  walk-in distance.

 

Negative Points of Green Valley Project

1) Possession is too late( Dec. 2015 as per the developer)

2) There is an individual property(Bungalow) in the center of this project

3) Water problem in nearby visinity

4) Area is not well developed

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