R
Rajeev Khanna
My 3rd property, and Millenium One is a head-scratcher
Two years ago I'd have laughed at these prices. I'm looking at Millenium One for investment, but honestly, the ₹2.07 Cr tag feels steep. Everyone talks about appreciation in Pune but the actual rental yield here... I'm seeing barely 2.5-3% gross. From my experience, that's not sustainable for a decent ROI. Is it just me, or is the investor-to-end-user ratio too high, making rental yields artificially low? Change my mind.
#millenium-one#pune-real-estate#rental-yield#roi#investor-ratio
Comments
Change your mind? Honestly, with those numbers, I can't. Especially as a first-time buyer, I'd be looking for something with a better balance of appreciation potential AND immediate utility, like a decent rental yield if I ever need to move out. Millenium One sounds like it's priced for a very specific, cash-rich investor who doesn't mind the low yield for long-term capital gains. But even then, 2.07 Cr is a huge amount to lock up for such a small return. Are you sure about this, OP?
My uncle bought a place in Akurdi a few years ago, similar situation. High price, very niche project. He's struggling to find good tenants who pay on time and agree to the rent he expects. The property value has gone up a bit, but the actual cash flow from rent is negligible after maintenance and taxes. So, your concern about ROI is very valid. 2.5-3% gross is almost a negative ROI after expenses.
Hmm, 2.07 Cr for just 9 units, and possession was way back in 2018. If it's still available, that itself raises a red flag for me. Why hasn't it sold out if it's such a great investment? Or is it just one unit that's available? As a first-time buyer, I'm always wary of properties that sit on the market for too long, especially completed ones. Kya koi hidden issues ho sakte hain?
Could be that the developer is holding out for a premium, or maybe the initial buyers backed out. But for a completed project from 2018, it's definitely something to investigate. If it's a resale, then the current owner might be trying to make a quick buck with the 'Pune appreciation' story. But appreciation doesn't always translate to good rental income, as you said.
U5, good point about the availability. Often, if only one unit is left, it's either the most expensive or has some Vastu issue, or maybe just a specific layout that's harder to sell. For a project with only 9 units, it should have been snapped up quickly post-2018. This makes me nervous. Maybe the price is genuinely too high even for investors?
Investor-to-end-user ratio is a real issue. I faced this in a project near Sinhagad Road. Builder promised great rentals but most buyers were investors, so when it came to renting out, everyone was undercutting each other. It crashed the rental market there. 2.5-3% is honestly very low for an investment property, especially if you're taking a loan. The EMI itself will eat that up.
Bhai, you're looking at your 3rd property? Hum toh pehle ke liye hi itna nervous hain! But yeah, 2.07 Cr for a completed project, that too with only 9 units. It does sound like a niche market. The rental yield numbers are scary, seriously. I'm also looking in Pune, maybe around Ambegaon, and even there, the prices feel inflated for what you get. Is this a common trend for completed projects now?
Totally agree with U1. Pehla ghar lena hai aur ye prices dekh ke darr lagta hai. Millenium One ka toh RERA number P52100001444 hai, maine check kiya tha. Completed project hai 2018 se. Iska matlab hai ki builder ne already apna profit margin set kar liya hoga. The low unit count makes it feel like a luxury segment, which usually has lower rental yields anyway. Pune mein abhi market thoda correction mode mein hai, right?