Do you work in the booming IT sector of Pune? Are you seeking to move into a new home in Pune with your family? If so, then now is the right time to hunt for a flat in Pune. Pune is no stranger to fantastic real estate growth, and thus, finding apartments in Pune that is luxurious and affordable is super easy. Explore the sector of real estate in Pune and take your time to choose a flat for your family. Here are five most essential factors to consider before buying a flat in Pune.
Verification of the property price
Consider your situation of income and expenditure and fix the budget accordingly. The cost of the flat depends upon its location and proximity to physical infrastructure and amenities. Consult with the developer for price quotes and then compare the price with other properties and apartments in the neighborhood.
You can also get information on the costs of properties from newspapers, property portal listings, and the brokers in that region. If you are seeking an apartment near the IT hubs of Pune, then you need a bigger budget, as these apartments are in the prime locations of Magarpatta and other IT parks of Pune.
2. Possession of the flat in Pune
Reports say that a large number of real estate projects are facing a significant delay in giving them ownership of apartments to the buyer. And so, a prospective buyer of apartments in Pune has to make a realistic assessment of the possession timeline of the real estate project. The delivery of the apartment relies on several factors. These include sales of the real estate project, the availability of sufficient funds with the builder, the supply of raw materials to the developer etc.
Besides, if the construction is going on during the monsoon season, then it will be slow automatically due to erratic weather. Most of the developers request for a grace period of six months for the delivery of possession of the apartment. So,prefer the ones who have a a good history of on time delivery of projects or go through the contract to ensure the time limit of the grace period and elicit a valid explanation of the same.
3. Additional and hidden charges
The price of a flat in Pune includes quite a few extra costs like parking area, club memberships, a fee for the preferred location, power back-up, development charges, and so forth. The payment schedule generally enlists the additional charges, and the developer collects them at regular intervals. There are registration charges and stamp duty, too, during the time of registration. However, make sure that there are no hidden charges. Pay every amount upfront and collect the receipts for every payment.
4. Location and neighboring infrastructure
Analysis of the location of the apartment is of utmost importance. The buyer needs to check every factor like surrounding amenities, infrastructure, connectivity by road transport, accessibility to the neighboring regions, and so on. If there are ready amenities nearby, then you will be able to settle down quickly without any hassle.
5. The agreement between the builder and buyer
The buyer receives an allotment letter upon booking the flat by the payment of the token amount. After this payment, the buyer has to enter into a tripartite agreement with the bank and the builder. Sign the agreement between the builder and the buyer now. Hire an attorney to read and understand the clauses of the contract before buying the flat.
Conclusion
The regions of Pune like Hinjewadi, Talegaon, Khed Shivapur, Sinhagad road, Dabhade, Tathawade, Rahtani, and more are the most popular and fabulous locations for residence in Pune. There is a well-developed infrastructure, excellent schools, several super-specialty hospitals, entertainment hubs, IT parks, and excellent availability of civic amenities and facilities. Move into a flat in Pune immediately and live the best life.
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