Home Buyers Speak: Padma Jain On Buying A Bungalow In A Residential Project
Padma Jain, School Principal, Rajkot
Padma Jain studied electronics and communication engineering in college, and now works as a school principal in Rajkot, Gujarat. Recently, she bought a bungalow on the outskirts of Ahmedabad. Her bungalow is on the ground floor of a residential project. In an interview with PropGuide, Jain says that she bought her new home because it is a bungalow that offers all the facilities of a flat. Edited excerpts:
Q: You live in Rajkot. Why did you decide to buy property in Ahmedabad?
Jain: My husband and son procure raw cotton. Our yarn businesses are in the north of Ahmedabad. So, my son had to quickly relocate to Ahmedabad. But, rental rates are very high in that city. So, we decided that it is better to invest in property instead of renting. We have family and friends in Ahmedabad. I studied to be an engineer, but to take care of my son, I have been teaching in a school in Rajkot. But, I would soon be relocating to Ahmedabad.
Q: Please tell us more about your home.
Jain: We booked an apartment in Ahmedabad. But, it is not really an apartment. It is an independent bungalow in the ground floor of a 12-storey residential building. It is a bungalow, which offers all the advantages of living in an apartment. We were always living in a bungalow. So, we knew that we would not be comfortable living in an apartment. We have a dog. We wanted our dog to roam around freely. In an apartment, our dog will feel restricted. There is much open space around this bungalow.
Q: Is it more expensive than a regular apartment?
Jain: It is far more expensive than a regular apartment. An apartment in this project costs Rs 2,500 per sq ft. This bungalow cost us Rs 3,500 per sq ft.
Q: Why did this bungalow appeal to you?
Jain: When we decided to buy a new home, we chose the safest location we could find. We needed a home near the highway so that we could avoid traffic congestion. Rash driving is very common in Ahmedabad. Air pollution is high, too. To avoid these problems, we decided to buy a home in the outskirts. Since we live in Rajkot, we also wanted to live close to the Rajkot-Ahmedabad highway. We liked the place geographically, too. This area is not very sensitive, like other parts of Ahmedabad.
Q: What is it like to buy a property in Ahmedabad?
Jain: In , brokers, developers and investors are very active. Investors have too much money in their hands. They buy and hold on to under-construction properties in Ahmedabad. When the construction is completed and done, home buyers would buy apartments from them. They do not have to wait. Of course, investors do this to earn profits. Unsold inventory is very high in Ahmedabad. Many flats are with investors and too many flats in the city lie vacant. As rents are very high in the city, I hear that apartments are rented to companies. As hotel rooms are very expensive, they buy service apartments for their employees, who stay in the city. It is a big business in this city.
Q: Did construction of your bungalow take too long?
Jain: In three months, our bungalow will be ready to move in. Construction of flats may be delayed for long, but it depends on the developer. We researched the location and the developer well. So, we do not have many regrets.