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I recently received a flyer for an upcoming project at Megapolis - Sunway , Hinjewadi Phase III, Pune, possession by March 2013. The rate p sq ft being quoted is approx btw 2800-2900. Needed an opinion on the proposal from an investment perspective
Appreciate a quick turnaround on this one? Regards Arun kotwani |
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I will try to answer a few questions as per my knowledge:
It is quite far from Pune city, with University being close to 12-15kms at least. Within Hinjewadi itself from phase I you have to travel like 2-3 Kms inside.
I haven't heard of any other residential developments in phase3, although there are good many IT companies starting operations there (like tech Mahindra, etc.) and surely there will be a few commercial establishments that will come up in due time.
Right now there are no provisions (due to lack of residential place) as far as I know but I am sure with the possession of the flats water and electricity will be provided but backup is a must.
In a 5 Year terms, definitely the price is likely to appreciate by 30 to 40%
As there are many IT companies there and thousands of employees wanting a place to live near by it should be easy to rent it out and possibly a 2 BHK could fetch close to 8 to 10K |
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