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Prime Locations to Buy Property Within Rs. 50 Lakhs in Pune

Recently, Pune has been climbing the ladder of success in the list of preferred investment destinations. But still, you would find an affordable property in Pune easily. Pune is often known as the IT hub and a pensioner’s paradise which has gained a lot of attention from the Pune real estate investors and buyers. Mumbai has contributed a lot to the development of Pune’s real estate business. But the primary reason for its gaining popularity is due to its rapidly developing infrastructure.

Top 5 Localities to Invest in Pune within Rs 50 Lakhs

Wakad: It is located at the entrance of Pune, which is the closest locality to the Hinjewadi IT hub. This place has eventually improved itself in terms of infrastructure and facilities which has tempted many investors to buy property in this area. Since this place is basically known for its property to be having the highest rental so people who invest, here are usually those who want to earn a good amount monthly through giving lease. Here, investors earn up to 25000 per month by giving their property on lease. A 2 BHK flat in Wakad of 700-900 square feet is within 50 lakhs.

Wagholi: This locality is under the Gram Panchayat for which this is a site for the investors to start new housing projects which do not come with heavy taxes and they do not need approvals from other authorities. Another reason for its popularity is because the area is located near the Pune airport, attracting many NRIs to invest in property. A 2BHK flat of 800-1000 square feet is easily found here within 50 lakhs.

Hadapsar: This locality is near Magarpatta city which is another IT hub of Pune. The most attractive fact about this locality is that it provides the same locational advantages and facilities as Magarpatta city at a cheaper rate and has a variety of options for buyers. A 2BHK flat of 800-1000 square feet is easily found here within 50 lakhs.

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NIBM Road: This is a neighbor friendly suburb that is making waves in the Pune real estate sector. The area has several restaurants, shopping complexes and schools. This locality is an investor’s paradise and 2 BHK flats of approximately 800 sq. ft. each can be easily found in this locality.

Undri: In this locality, you can afford a 2BHK flat of 900 square feet within the budget of 50 lakhs. This locality is fully surrounded by greenery and it’s also close to the Pune Camp region. It is one of the localities which are connected with all the major highways of Pune.

Today, some of the well-known builders have their property in Pune. They sell properties for the middle class and also to high end property buyers. Pune is one of the most popular realty destinations in the country but you can still find properties priced within Rs. 50 lakhs if you choose wisely.   

Additional Reads:

Buyers looking for affordable homes

Proposed Pune Airport drives major investment in city

Valuable tips for landlords to earn safe and healthy tips

Best Areas to invest in Bangalore

 

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Aamby Valley Auction Slated For June 2017, Value Pegged at Rs 43,000 Crore

It was not that long ago when Sahara India Pariwar was one of the most trusted corporate pariwar of India, but things have changed drastically over the course of last few years. As a result of the same, the customers have lost their trust in Sahara India Pariwar as well as all the products from the group. As per SEBI, Sahara India Pariwar owes Rs. 37, 000 crores to its investors and its founder Sri Subrata Roy Sahara has been in custody since 4 March 2014. Sahara India Pariwar has failed on many occasions to repay the debt, and hence the company is at its all time low.

To recover this huge amount the company has been given many chances and it has failed almost on every single occasion. All the credit for the same goes to SEBI only.  According to sources now Sahara’s Aamby Valley is all set to be auctioned June which is estimated to be a worth of Rs 43,000 crore. The Honorable Supreme Court of India has earlier ordered to auction Aamby Valley after Mr. Roy failed to deposit the sum of Rs 5092.64 crore with SEBI.

Aamby Valley is one of the most gorgeous places developed by Sahara Group.

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The Supreme Court has ordered to auction the Aamby Valley in order to recover the money of its investors, and the official liquidator of Sahara Group’s Aamby Valley is all set to be auctioned in June.

There are Two Claimants of the Fund

  1. The Securities and Exchange Board of India and
  2. The Income-tax department of India.

However, the Sahara group has claimed that this auction can’t be carried out because they have already submitted a post-dated cheque of Rs 1500 crore on demand of Honorable Supreme Court.

The SEBI has already received the report on Aamby Valley through the liquidator of Bombay High Court. The value assigned to this property is 43, 000 crore but the market value of the property is estimated much more than the value assigned. With all these ongoing hassles between SEBI and Sahara Group, the route for the auction seems far-fetched, and without the intervention of Supreme Court, it is unlikely to be carried out. A clear picture would only come out after next Supreme Court hearing which is scheduled to be on June 19th.

According to an email of Sahara’s official spokesperson, The Honorable Supreme Court has ordered against the auction of Aamby Valley. It was because Sahara was able to produce a Post dated cheque of Rs 1500 crore to the Supreme Court, and any decision will be taken after Honorable Court’s next hearing, but SEBI has not yet responded to this email. As a result, this whole auction thing is in a state of confusion.

Read More: Why PMAY failed in Maharashtra

Sahara India Pariwar anyhow has to repay the money of investors in order to bail them out of this huge money debt otherwise this Aamby Valley is most likely to be set on auction after next Supreme Court’s hearing.