Akshaya Tritiya is believed to be one of the most auspicious days of the Hindu calendar for beginning a new venture, making a new purchase and invest in assets like gold and property. Since property buying involves huge investment and is an emotional decision among the family, many potential investors finalize their deals during this festival. Connecting with the sentiment of the potential buyers, the real estate developers also offer effective financial solutions during this season.
It is a perfect time for the investors and purchasers to put resources into the developing land market of Pune. Brotin Banerjee, overseeing executive and CEO, Tata Housing Development Company, says, “The consistent growth saw in IT, vehicle, building and assembling ventures alongside the relentless rate of thankfulness, is making Pune a quick rising land goal for both the new home purchasers and financial specialists. The nearness to a metro like Mumbai likewise makes Pune a perfect goal for putting resources into a moment home; near a business city however at an open to driving separation to a quiet and serene home far from home. The city is likewise home to a portion of the greatest corporates, instructive establishments, and a lively start-up eco-system in this manner making it an independent monetary powerhouse in all regards.” In Pune, the activity creation potential has expanded complex in the current years. The city offers world-class instruction and human services offices and these signify make Pune an alluring goal for the home-purchasers and speculators.
Pune: A new luxurious destination
Experts pointed out that the selection of Pune in a list of Smart Cities and the proposed new international airport will not only increase Pune’s viability as a business destination but will also boost the demand for the residential real estate in the city.
Real estate is the only asset class which one can buy at today’s prices taking a loan and get a 20 to 30 years repayment plan. This way, as the value of the property increases and purchaser, end up paying the original purchase price over a period of time. For all other asset categories, the investor pays the price as applicable on the date of purchase.
Pune is on the way to be a Smart City hence experts believe that buying a home in Pune can be the game changer. Pune is a leading job-center in the western part of the country and this adds the value of property in Pune.
Tips while investing during the festive time
Experts suggest the following tips for investors looking to invest during the Akshaya Tritiya:
Possession: It is very vital and in the interest of the buyer that the purchase agreement includes a clause which mentions the date on or before which the developer will hand over the possession of his property.
Approval: Buyer must check the terms and conditions before entering into an agreement or contract.
ROI: Considering the quantum of finances associated with purchasing a home, it definitely occupies a significant part of the financial planning process. Hence a strategically chosen property is likely to deliver better returns in the future; not only in the form of capital growth but also in the form of rental returns.
Specifications and amenities: Always verify the amenities and facilities before finalizing the deal. Investors should ascertain all the recurring expenses associated with the property in advance.
Pune has undergone a massive infrastructure development in recent years and several new projects are currently being undertaken with several more planned over the next few years. These infrastructure development initiatives are aimed at catapulting Pune into a world-class destination, both for residential and business purposes.
Knock your happiness on the auspicious day of Akshaya Tritiya with us.