Tips to follow when buying a property in Pune

In recent years, the real-estate sector has grown well in Pune, as a number of developers have built homes in this beautiful city to meet the high demand. With people from across India migrating here and buying property in Pune, this city has become the focus of leading builders. Homebuyers can now pick from a wide variety of projects launched by various developers, where it becomes important to know which factors one should check when buying his/her dream home.

  • Total cost: It is recommended not to blindly follow the costs told to you by the brokers. They often deceive buyers by telling them only the base price. You should yourself check out all the additional costs such as service tax, development frees, charges for the clubhouse, parking, preferential locations, etc. Make your purchase only after you know the total cost of the home.
  • Check the locality: You must study the infrastructure around the home, if possible, by visiting the place yourself. The property must be close and well-connected to schools, hospitals, banks, and other social amenities. The public transport in the region should be well-developed. Also, check out the environment to make sure it is clean and without any polluting industry nearby.
  • Verify the developer: Spend some time on checking the developer’s track record. You wouldn’t want to buy a property developed by a builder who doesn’t deliver projects timely, maintain standards or doesn’t even have proper permissions. The builder must have the proper rights over the property and the necessary licenses. In case if you are purchasing a resale property, ask for tax receipts from the previous owner to make sure that there are no pending taxes.
  • Verify the site: The land on which the property is being developed should not be disputed or under litigation. If possible, ask around in the neighborhood for information regarding land disputes.
  • Check apartment size: Developers often present the super built-up size in the brochures. This includes common areas too, which you can’t use personally. So it is highly recommended to check the floor area you would actually receive. Also, make sure you know your requirements and how much space should be sufficient. 
  • Banks which would finance: With the real-estate industry facing a slump and the unsold inventory growing, banks are hesitating to fund projects. Certain developers don’t have any banks to finance the project at all. You must check out the banks which would fund this property in Pune for sale and then pick the one which offers loans at the lowest rate. 
  • Register the plot: Once you have picked your dream home, make sure to register the plot to become its lawful owner. This way you would gain the rights over the property. 
  • Rent: One should not rely on rental income to pay the EMI or repay home loans. Sometimes rental income is only 2 to 3 percent, and it may take you months to find a tenant. Make sure you have other means at your disposal to pay for the home. 

Following these tips should help you get your dream Property at Hinjewadi Pune without any hassle. 

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