Thursday, February 4, 2016

Home Buyer's, "Achhe Din" Are Here!

"There is nothing like staying at home for real comfort”…
Jane Austen.

Sure there must have been thousands of definitions of home but this one I felt like sharing here as this is why one should have his or her own home! Unlike any product we buy, a home is most unique as this is the only product which don’t come to us  across the counter but we go to it & for most of us its one time buy! That makes home most precious buy we ever does & each of us should give it a try for two reasons; one here is where you can have your very own private moments & they can be of joy or sorrow & second at the end of the day we all need to have a place which will welcome us with the people along which we call a family & what better place than a home can play that role!

As what we call home isn’t just four walls giving us safety & shelter but it’s the environment within these walls which makes those four walls a home or else even a jail too has walls & safety! And for having that environment which we call feel of the place we need a home of our own; yes we can buy the area with four walls & decorate them with plush interior but to make that place a home is in our hands only! And for that one needs to choose with open eyes as what makes a best home is a question I ask to myself often? It’s a perfect blend of planning, workmanship, location, relations & yes lastly the budget! Also a lot depends up on the entire process i.e. how the deal for the home is done. One more aspect is there, something I never like to mention yet it’s a fact is investment value of a home as by me home is not a investment because just the way I can’t call my own kids as investment, I refuse to consider a home as investment. It’s a feeling, an experience & we don’t count feelings in terms of appreciation! Why  a person should buy a home is a question that can be answered individually but by me nothing wrong in staying rental home yet can we really call rental home as our home, is a question I always have failed to understand. Though I myself have been lived major part of my life in hostel & rental room sharing basis in my college days as well in bachelor days & still feel nice whenever I travel from the road on which my hostel lies. Yet the rental homes lack that belongingness or feel of ownership is a fact as somewhere in the back of our mind we always know that one day we will not be returning to these four walls which we are living in when it’s a rental home! Though till the time we haven’t finalized our own home as well not decided where we will be working, till then rental home is definitely a good option.

Though we call real estate as industry & that makes a home as a product but this product always amazes me as it’s not comparable to any product. Most of the people buys home once in their life time & it has most sentimental value which makes a home a very special product unlike any other commodity! But at the same time people are very much confused about what will make their dream home as it has lots of parameters, right from its location to amenities to  convenience for work place to kids education & then finally budget as well which builder to choose; so many aspects are there. But good thing is no more it’s a seller’s market but of late real estate has become buyers market & that makes this as best time to buy a home & I am not saying this as a builder by myself, but look around with open eyes & you will see the options & offers in real estate which never has been there is a fact!

And when its home buying then first you have to understand the city & its development which we call growth of the city & then start looking for your home as that will avoid lots of confusion in choosing location. Pune has been now divided majorly in west & east side’s type classification when its real estate. Since long the cultural drift was there with eastern part more cosmopolitan & business class peoples delight where as western side was & is more jobs oriented & preferred by locals. In one writeup it’s difficult to cover the entire city, as no more it’s laid back pensioners delight but a Metro City in making so will analyze west part of the city first. Here I will share a quote by a renowned urban planner, Herb Cain, it will help us in understanding our city, “A city is not gauged by its length and width, but by the broadness of its vision and the height of its dreams”...

Agreed a man is natural wanderer but eventually every wanderer has to settle down some where & a settlement where you feel most to yourself is the best city; I think it’s the simplest definition of a city! I myself have been to many cities & feel lucky about it as unless you see numbers of places you can’t have your own scale to compare them. How you define a good city, is it the roads, townships or malls or the industries which makes a city great? I feel it’s the people who make a city great & on that account Pune beats many of even cities the Metros in the country! And now we are officially ranked as number two city on smartness index in the entire country. This will ensure many good things which will be in benefit of the city growth, one of them will be new employment coming here in the form of starts up companies.

The most important backbone of the city is culture it carries & it comes only with the education base the city provides; proudly called as Oxford of the East, here are countless educational institutes grooming future of our society & obviously it does make a good impact on entire city’s culture! And it’s at education, west part of Pune is at its best i.e. if we look at west side of the city then in the stretch of some 20 km i.e. from chandani chowk to kiwle, along the entire Bangluru-Mubai bypass there must be more than seventy education institutes & some of them are Symbiosis, Indira, DY Patil, JSPMS Engg & many such! After all any industry needs skill man power to grow & Pune has it maximum in the country.  This very same locality is famous for IT hub with Hinjawadi IT Prk which nests some of the biggest IT companies in country & nearly three lacs people work in the same! And then the Pimpri Chinchwad Industrial estate as well Talegaon & Chakan belt which has some of the world level industries like Mercedes & Ford are in the closes vicinity! And then in this stretch of highway only every automobile brand’s service station as well show rooms are located, again making west as most sought after locality. Real estate of Pune always has been dependent on either IT industry or Auto sector & of late Education also has been a prominent factor making Pune as real estate delight & west of Pune is lucky to have all of these three segments prominent presence. Another significant yet hidden aspect of west side is minimum percentage of slums or say illegal structures & availability of lots of green & open spaces which helps in keeping clean environment! And then west side’s connectivity to Mumbai plays vital role in the growth of this locality! Rather by expressway New Mumbai is hardly one & half hour’s drive from many of the western suburbs i.e. baner or wakad, which is very much time saving may it be reaching to job or attending a business meet & coming back to your home here.

I think outcome of all these facts is now even many real estate exhibitions also are organized focusing west part only, so the buyers can choose from options available in west side of the city. Its start of New Year & first month is already over. Last year was very much shaky for real estate; not just for builders but for home buyers too, as nobody was sure whether to buy or not, will the prices further fall & if you get a good deal the whether the possession is assured & many such! This year everyone related to the real estate is hoping for more steady waters & it’s not just about prices stabilizing but policies related to real estate, infrastructure as well main thing i.e. job security around seems to be in place.  

Yes there are many lucrative offers on the homes but it’s always better to stick to basics; buy with open eyes, compare the market rates around, look for hidden details such as carpet salable ration & then compare rates. Remember location & rate of a home is important but equally important is assurance of timely delivery & after sales service & so its wisdom to deal with a name which has a track record & people who are available to you all the time! Check finally at what amount you are buying a home, may it be down payment or loan or no EMI or take possession now & pay in eight years types schemes; one thing is sure no developer is in business for charity & should not be! Market conditions are best & like automobile market is back on track of gaining momentum so is real estate. Personally I don’t like ever increasing property rates at high speed as it don’t last long, instead a steady & slow pace is always better which can be felt now in real estate. Remember one thing, land is limited & population is ever increasing, that does makes real estate or home making whatever we call it, always in demand industry. Finally it’s up to us only when  & where to conclude that own home of ours, so go ahead & make out best of the good times in real estate which are in favor of the buyer, a rare phenomenon indeed!

Sanjay Deshpande

Sanjeevani Dev.

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