Reasonable rateWhen i asked you to guess, even I did not know the property rate of Queenstown.
I know the real estate rates in almost all locations of Pune. If you are reading my Pune real estate market news blog regularly, you know Amit's Bloomfield at Ambegaon on new Mumbai Bangalore bypass is asking Rs.3,800 and Rs.4,000 per sq.ft. Property rate of Amannora Township on Hadapsar Kharadi bypass is Rs.3,500 and Rs.4,000. At Balewadi and Bavdhan Koolhomes's property rate is Rs.4,000. Midori Towers of Pimple Nilakh, was launched at special rate of Rs.3,000 per sq.ft.
But all these projects were in undeveloped areas. In last couple of years, not a single township was launched in the developed area of Pune and Pimpri Chinchwad. Why? How can you have a township in the city if the big plots are not available?
Where as, Queenstown is a township of more than 25 acres and Queenstown is in the heart of Chinchwad. Now, tell me, how can i guess the property rate, when i know how impossible it is to find a plot of that size and if you did find, how expensive it would be!
When i visited the well done sample flat, everybody received and explained to me the project in detail but nobody talked about the property rate till i sat with the real estate salesman.
When salesman said property rate is Rs.3,200 per sq.ft. i did not believe what i was hearing. So i asked him again and again. Yes, up to 5th floor, the property rate is only Rs.3,200 per sq.ft. Floor rise is conventional Rs.25 per floor. For 10th and 11th floor floor rise is 75 Rs. and for 12th floor Rs.100 because of the higher construction cost. Including all floor rises, property rate of my 12th floor flat is Rs.3,800 per sq.ft.
Value for money:After the multimedia presentation and visit to the sample flat, if you ask me, it is not at all difficult to feel that you are getting your money's worth. Even for you, who has not seen the multimedia presentation and not visited the sample flat, it is easy to find the rates and other charges, standard and normal. Because, they are at par with the projects on the out skirts. For example -
Club and infrastructure charges of Queenstown are Rs.1,54,000.
Corpus fund is Rs.1,25,000.
MSEB charges are Rs.90,000.
Oh! you have to pay Rs.12,500 for the piped gas and Rs.10,000 as legal charges.
What i do not like is car parking charges - Rs.1,25,000. No amount is OK. But the amount is for the open car parking! I find it difficult to believe that covered car parking is not available on the next day of the launch of the project. True, in my tower most of the flats are already gone. I expect, good projects should have 2 car parkings per flat. Shouldn't they?
What is your take on property rates in the Pune real estate market?Some of us were hoping for the slow down in Pune real estate market. Most of us were sure that real estate prices would not rise anymore. We all wanted property rates to come down. 'Is this rate justified at that location?' was the most frequently asked question. But did you ever think that a luxurious township of 658 flats would be launched in the heart of the city at a reasonable rate? Do you think you are getting value for your money in Pune real estate market? Please, express your views in the comments!
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