Does anyone feel the same?
The Thought of R2I - Oh Great thought ! Should we do it ?
Deciding R2I - Finally, lets share container, buy things EXCITEMENT
Spouse R2I - You go and settle things and I will join . LOTS of EXCITEMENT
Ok, we are also coming - Container Shipping and all - EXTREME EXCITEMENT
In India - Yeah ! We made it, we could do it - BLAST EXCITEMENT
3 months in India - Which car to buy, house, area, schools, settling in, family, relatives, neigbors, food, restaurants, outings - OH MY GOD - This is GREAT !! I love India !
6 months in India - What do we do of the boxes, space issues, baby school, my career, lights, water cuts, hot, humid, traffic woes - OH MY GOD !! What were we thinking?
9 months in India - Look for a house - Decent locality - 4 BR - 1Cr OMG !!
12 Months in India - We miss the house back in US, We miss the comfort, We miss the neighborhood
OMG - Should we think of going back? Cant afford the 1 Cr houses, Dont want to live on mortgages. Kya karen??
Anyone?
Post R2I Blues
Post R2I Blues
PD_P;28785312 Months in India - We miss the house back in US, We miss the comfort, We miss the neighborhood
OMG - Should we think of going back? Cant afford the 1 Cr houses, Dont want to live on mortgages. Kya karen??
You are scaring the hell out of me.
So let me hijack the thread.
You are in Pune (as per your profile). Are you talking about 4 BR apartment (flat) or a 4 BR independent house/bungalow/row house for 1 crore?
Post R2I Blues
I presume he is taking about 1 crore apartment with 4 bedrooms since he is looking for a 'decent' location. Houses in decent locations can go > 2 crores. Its a sticker shock for most people who don't follow Pune real estate closely. I know someone who bought a apt just 8 months ago in Pune and apartments in the same building are now selling for > 20L more. The recession is over for builders as far as Pune real estate is concerned. How long this craziness will last is anybody's guess.
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returning_indian
- Posts: 2322
- Joined: Thu May 06, 2010 12:56 am
Post R2I Blues
sftrade;287860I presume he is taking about 1 crore apartment with 4 bedrooms since he is looking for a 'decent' location. Houses in decent locations can go > 2 crores
Housing is on extra dose of steroids in India and people are on illegal dose of drugs. Amazing indeed.
Post R2I Blues
PD_P;287853
9 months in India - Look for a house - Decent locality - 4 BR - 1Cr OMG !!
OMG - Should we think of going back? Cant afford the 1 Cr houses, Dont want to live on mortgages. Kya karen??
Anyone?
where is this decent locality which is sending you back to USA...i know that few areas are really expensive..1Cr to 2Cr..but there are still mid-range areas..right???Please say YES!!! are you trying the famous Pune humour here...or are you serious... This is seriously unfunny.
By the way which areas could be classified decent in pune nowadays???
Post R2I Blues
OP's observations are correct if the primary motive of R2I is career or comforts or financial well being.
No kidding folks. India can't match US when it's comes to career or comforts or financial well being.
Most, including myself, are considering are R2I from the family perspective. We're hopeful ourselves and our Children would get to spend quality time with our aging Parents while they're healthy as we are all worried that we might never get to do that unless we R2I ASAP.
In that context it's a trade off in regards to standard of living when compared to US. I myself started to convince myself I'd move to India with a open thought that I'd be willing to come back to US at a later time if the situation calls for it.
No kidding folks. India can't match US when it's comes to career or comforts or financial well being.
Most, including myself, are considering are R2I from the family perspective. We're hopeful ourselves and our Children would get to spend quality time with our aging Parents while they're healthy as we are all worried that we might never get to do that unless we R2I ASAP.
In that context it's a trade off in regards to standard of living when compared to US. I myself started to convince myself I'd move to India with a open thought that I'd be willing to come back to US at a later time if the situation calls for it.
Post R2I Blues
mn_op, maya1,
Yup, Pune housing prices are crazy. You can look at Magicbricks website to get a decent idea. Note that everyone quotes saleable area - carpet area is usually ~20% less (some resale ads quote carpet but its rare).
The problem for most NRIs is that we get used to a lot of space in the US. Unfortunately, space is a luxury in urban India so if you want a 1800+ sqft carpet area flat, they'll promptly call it "premium" and also charge a higher per-sqft rate (usually with gym, pool, marble floors). In Kalyani Nagar, rates are 5-6k / sqft for average layouts/builders and 7-9k for "premium" stuff (more spacious, good finish, etc). Magarpatta/Amanora charge 4000-5000/sqft for their more spacious complexes (they have many complexes in one township). There are 3bhk flats asking ~2500-3500/sqft nearby but they will have 1200-1400 carpet area and/or be on poor roads, no metro water, etc. Kondhwa/NIBM area seems to be similar - except that they have more villa communities so maybe you can get a house for 1-1.5C instead of flat. Most houses I've seen in this range are built close together with the tiniest garden so don't get your hopes up by the term "villa". You can buy for less in further outskirts but they aren't good to live in immediately.
Basically, you can assume at least 4-5000/sqft for options that typically appeal to NRIs who have lived in spacious houses in nice suburbs and then if you want 2000 sqft, there you go....80L - 1 Cr + regn/duties + interiors.
To OP's situation, my sympathies and hopefully you will be able to get enough enjoyment from family, belonging, etc to offset the lower std of living. In a weird way we have benefited from living in Boston (another crazy RE mkt) - had to settle for condo for ease of commute so no sfh/backyard to miss!
Yup, Pune housing prices are crazy. You can look at Magicbricks website to get a decent idea. Note that everyone quotes saleable area - carpet area is usually ~20% less (some resale ads quote carpet but its rare).
The problem for most NRIs is that we get used to a lot of space in the US. Unfortunately, space is a luxury in urban India so if you want a 1800+ sqft carpet area flat, they'll promptly call it "premium" and also charge a higher per-sqft rate (usually with gym, pool, marble floors). In Kalyani Nagar, rates are 5-6k / sqft for average layouts/builders and 7-9k for "premium" stuff (more spacious, good finish, etc). Magarpatta/Amanora charge 4000-5000/sqft for their more spacious complexes (they have many complexes in one township). There are 3bhk flats asking ~2500-3500/sqft nearby but they will have 1200-1400 carpet area and/or be on poor roads, no metro water, etc. Kondhwa/NIBM area seems to be similar - except that they have more villa communities so maybe you can get a house for 1-1.5C instead of flat. Most houses I've seen in this range are built close together with the tiniest garden so don't get your hopes up by the term "villa". You can buy for less in further outskirts but they aren't good to live in immediately.
Basically, you can assume at least 4-5000/sqft for options that typically appeal to NRIs who have lived in spacious houses in nice suburbs and then if you want 2000 sqft, there you go....80L - 1 Cr + regn/duties + interiors.
To OP's situation, my sympathies and hopefully you will be able to get enough enjoyment from family, belonging, etc to offset the lower std of living. In a weird way we have benefited from living in Boston (another crazy RE mkt) - had to settle for condo for ease of commute so no sfh/backyard to miss!
Post R2I Blues
offwego
It seems to me you are well verse with Pune..which area would you suggest as mid-range area..i don't want to invest lot in pune property but something decent in the range of 60L- 70L ..what areas should i aim at..daughter school is in nibm..i am willing commute for 30mins for school.any suggestions??
PD_P
I totally get your point of view..i think most of the people i have known who have gone back to India..has summarized their feeling in the same fashion..i think they are just blues..This too shall pass!!! chin up!!
It seems to me you are well verse with Pune..which area would you suggest as mid-range area..i don't want to invest lot in pune property but something decent in the range of 60L- 70L ..what areas should i aim at..daughter school is in nibm..i am willing commute for 30mins for school.any suggestions??
PD_P
I totally get your point of view..i think most of the people i have known who have gone back to India..has summarized their feeling in the same fashion..i think they are just blues..This too shall pass!!! chin up!!
Post R2I Blues
Thanks all: Maya1, OffWeGo, Hope4Best, returningIndian, sftrade, mn_op:
Honestly, I do not mean to scare anyone. But that is the reality. I and hubby attend most of the real estate events and something decent (atleast a 4bedroom, terraces, decent living area - not equivalent ot the US style, but with extra space (to put up all that we have accumulated and brought back) costs a lot in Pune. RE market - Uff, dont even go there ! There are some great projects and likes, but they are expensive people ! Even going till areas like kharadi and likes, which I call remote, but thats where some of the newer constructions are coming up), the places are really expensive. We all (most of us) have spent around 8+ years in the US, and in the last 6-7 years we have all (most of us) got used to a specific lifestyle (Walk-in-closets, extra linen closets, a garage space or a basement, some decent backyard etc..
Though, we all have primarily the same reasons to be back - kids spending time with aging parents, we and kids enjoying the life that we have gone through (spending time with families, small train journeys and likes. But, seriously not all of us have accumulations of 2-3 cr before retuning home.
Salaries are great back home, affordability is easy (a decent Toyota Innova costs around 10L), and then you can have 2-3 bai's for all your work, cars get cleaned every day - inside out, newspapers, ironing, even veggies delivered etc (everything is easy and much better life) but still to be able to afford a decent living, it is insane.
This forum is a great help because there are spreadsheets with actual living calculations and all to prepare for R2I, but it is different when you are here. We forget that we left 9 yrs back, when things were different at our ends too, ........... may be I am just blabbering !!! It is probably the blues !!! Kya karein - I dont think we are ever going to go back to the US, but REALITY does Strike :) My grandpa on my mom's side always used to say - PIPO - Poor Indian Pull On :)
Honestly, I do not mean to scare anyone. But that is the reality. I and hubby attend most of the real estate events and something decent (atleast a 4bedroom, terraces, decent living area - not equivalent ot the US style, but with extra space (to put up all that we have accumulated and brought back) costs a lot in Pune. RE market - Uff, dont even go there ! There are some great projects and likes, but they are expensive people ! Even going till areas like kharadi and likes, which I call remote, but thats where some of the newer constructions are coming up), the places are really expensive. We all (most of us) have spent around 8+ years in the US, and in the last 6-7 years we have all (most of us) got used to a specific lifestyle (Walk-in-closets, extra linen closets, a garage space or a basement, some decent backyard etc..
Though, we all have primarily the same reasons to be back - kids spending time with aging parents, we and kids enjoying the life that we have gone through (spending time with families, small train journeys and likes. But, seriously not all of us have accumulations of 2-3 cr before retuning home.
Salaries are great back home, affordability is easy (a decent Toyota Innova costs around 10L), and then you can have 2-3 bai's for all your work, cars get cleaned every day - inside out, newspapers, ironing, even veggies delivered etc (everything is easy and much better life) but still to be able to afford a decent living, it is insane.
This forum is a great help because there are spreadsheets with actual living calculations and all to prepare for R2I, but it is different when you are here. We forget that we left 9 yrs back, when things were different at our ends too, ........... may be I am just blabbering !!! It is probably the blues !!! Kya karein - I dont think we are ever going to go back to the US, but REALITY does Strike :) My grandpa on my mom's side always used to say - PIPO - Poor Indian Pull On :)