Affordable housing projects come in the outskirts of the cities and generally these are large in number which is new to indian urban living itself.we share many things like common area,lifts, parks and etc.One more imortant thing is that many of the projects don't have sewage connections because of faroff distance from the cities.Builders will build these and maintain for an year(maximum) and pass it on to owners association.This is where real problem starts and residents see association as foreign body and don't cooperate well.residents don't keep common areas clean,no proper closing of lift doors and many other things which are required for community living.So finally these projects become middle class slums.We indians are new to community living and going by history we are not good learners in the civic sense point of view and god only knows what happens to affordable housing colonies or for that matter any large apartment complexes.
Leave the metro cities and work two tier three tier cities. You will not face cost problems. Why everybody wants to live in BIg cities having costly life?
At small cities you get house with less cost and Lavishing facilities. Why to invst in ciment and concrete blocks our hard earned money ?
Re: Why to invst in ciment and concrete blocks our hard earned mo
by suhas joshi on Jul 24, 2010 03:56 PM
BREAD (NOT BUTTER) IS IN BIG CITIES. PEOPLE FORCEBLY HAVE TO MOVE TO BIG CITIES. THEY ARE HELPLESS. YR SUGGESTION IS GOOD BUT NOT PRACTICABLE.
Re: Re: Why to invst in ciment and concrete blocks our hard earne
by mahibhushan jauhari on Jul 24, 2010 04:09 PM
yes i think that is the answer.After working in cities please move back to your own village/hometown where cost of living is still pretty reasonable and people are frendlier.
Be carefull when you buy property from CIDCO, CIDCO has a habit of cheating/playing fraud on buyers by manipulating the area. For example a 1000 sq feet carpet Module will be sold as 2000 sq feet in 1998 and as 1300 sq feet in 2004 all on the whims and fancies of the CIDCO.
Govt. of Maharashtra has floated CIDCO (City Industrial Development Corporation) A State Govt. undertaking which is the most Corrupt undertaking of the Govt.of Maharashtra. Instead of being a agency for providing housing to the middle and lower class at reasonable rates it encourages price escalation for the benefit of few builders and Bureaucrats.
Some of the Shady Deals of CIDCO include
Allotment of land under the 12.5% scheme to fictitious Companies,polictians.
Change of reservation of plots for commercial use
Systematic Destruction Of mangroves and reclaiming land and blatant violation of CRZ Rules.
Railway Station Complex Scam The station complex Built By CIDCO at Nerul , Vashi, CBD. The commercial areas was sold in the open market as Built up arae=carpet area ( 95-150 ) % loading in 96-98 at higher rates. In the year 2004 The same commercial premises were sold as built up raea=carpet area 30% Loading to friends and relatives and front men Mktg dept of CIDCO at a discounted price. Imagine built up area of two adjacent offices of same area are different.
Extra FSI to CIDCO directors Housing Society Prathamesh society where the Directors of CIDCO was allotted
Lets define affordability more rationally. Its better to use the term reasonable housing than affordable. 1)The total cost approximately 3 years salary of the household. 2) Place of work / major establishments in less than one hour ( note: bad infra will ensure even 10 kms take 1hr on other hand express highways even 25-30 kms point to point can be reached in 1 hr) 3) Schools/hospitals/essential services etc within 3-5 kms 4)Has basic amenities like water, electricity, sewage systems 5)Construction quality that can stand for 40 years atleast 6)A family of 4-5 can stay .
So not just affordability. One can afford even an bunglow in no mans land 50 kms from city with no facility of connectivity thats not big deal .
i would say go for house if one can afford 50% downpayment otherwise backout as simple as that taking 80-90% loan on long term with above 10% interest rate is foolishness , When i adviced same thing to my firends they dont mind 90% loan due to saving in tax but the tax amount is peanuts compared to Interset you will be endup paying. Appreciation should not considered if its just owning a house if one is thinking of making money out of it then they should not conisdered themself in aam admin category.
Second option is go for the new launched flats where u have enuff time to breath and arrange the 50% amount and balance can be taken loan.
If you cant make 50% downpayment then better upgrade the skills and change the carrer , if you can't do any of the above then face the music all the life , always think to help yourself what you can acheive every year ...good luck
My budget is around 35 lacs . I am looking for a 2BHK in Parle(E) . Currently I spend 90 minutes just commuting . Can anyone point me to some builder ?
Re: Re: 2BHK Parle(East)
by ilovebuns s on Jul 21, 2010 02:14 PM
35 lacs is not a small amount . I will have to go for a maximum amount of 20 lac Bank Loan
Re: 2BHK Parle(East)
by commonsense on Jul 21, 2010 02:16 PM
Ha ha ha! you want 2 BHK in Parle (E) for Rs 35 lakhs? you must be joking, the rates in Vile Parle are hovering around Rs 10000 per sq ft. Even a 800 sq ft flat (resale - more than 20 years old) will cost Rs 80 to 90 lakhs.
