Pune city is a growing IT hub, making it an attractive location for both investment and residential goals. Buying a new property in Pune is a critical decision for you and a wrong investment can affect years of planning. So, ensuring that you take care of every minute detail before buying a home is a must. Hence, we have curated a checklist of essential parameters which will help you make the right decision when looking for new projects in Pune.
Price
Before buying a new home it is wise to fix a budget and start sorting listings that fall under your budget bracket. After you have a price in mind, compare the properties from different developers in the same range and seek honest quotations in similar locations for different real estate projects.
Carpet Area
You must have come across several projects where the built-up area seems decent at first but after construction, you feel like there was a mismatch from your initial judgment. As per real estate experts, always note the carpet area of your property or flat. If visiting a 2bhk apartment in Pune, ask for carpet area details if not mentioned.
Legal & Written Documents
From sale deed, builder-buyer agreement, tripartite contract to approvals and NOCs from government authorities for land, water, electricity, sewage and Municipal corporation; each of these legalities need to be checked before investing in any new projects in Pune.
Basic Amenities
Ensure the new property you are looking for has sources for your daily needs in the vicinity. Like, dairy, grocery, local transport – taxi/bus stands, community park etc. Also, check for proper water supply in the area and for frequent power cuts. Make sure parking facilities are designated and society is secured with the latest digital measures.
Builder’s Reputation
The best way to verify your builder or developer’s brand value and reputation is to visit some old property of the same name. Speak to the residents and owners of those properties about promises being kept and overall services provided by the builder.
Location
When buying a new property in Pune, while comparing beautiful interiors, society views and surroundings’ maintenance; don’t miss out on location advantages and disadvantages. As per your living choices or investment priorities, make a decision on how a location will turn out in the coming years and whether there’s scope for growth and surge of prices for the area.
Neighborhood
If it’s a ready-to-move property and you are excited about shifting to your new home, do a brief check on your neighborhood and next-door occupants. As long as you know the people you are going to be around, your moving in will be smooth and comfortable. Avoid surprises in this aspect as much as possible.
Financing options
While buying a new property and looking for a bank loan, explore all the options of financing available in the market for real estate. Compare the EMIs, terms, tenure, and credibility of your finance options before deciding on anything. A lot of ease and buyer-friendly reforms are introduced by the government, which you should go through before applying for a home loan with any bank or NBFC.
Hidden costs
Lastly, look beyond the base price of your new home. The base prices offered don’t include the registration charges, GST, society maintenance deposits, penalties, and additional clauses. So, read carefully and take some expert legal advice on these terms to avoid paying a hefty final cost.
Buying a property is an important life decision, make your checklist carefully and wisely to enjoy a hiccup-free new home.