Top 5 Pros And Cons of Buying A Flat In Pune

by Goel Ganga Developments Real Estate Developers Pune

While thinking about buying a property in Pune, you may be perplexed by the endless available options. Nowadays, in this ultra-fast world, most of us are suffering from scarcity of time. People prefer to finalize everything in a short span of time; it includes searching top builders in Pune and purchasing a new home as well.

Here, in this article, we are discussing the pros and cons of buying residential projects in Pune. Hope it would be profoundly helpful in taking the right decision.

Let’s begin with the Pros:-

1. Convenience – This city brings plenty of advantages when it comes to making a living city. It has a pleasant climate, scenic spots, educational institutes, IT hubs, and tourist destinations that are attracting the customers on a big scale. All these factors make it a convenient city to lead a happy life with family.

2. Affordable EMI – The first thing to assess is whether you can afford the EMI of home loan you are intending to take. There are various investors, banks and various real estate companies in Pune from whom affordable EMI options can be availed.

3. No burden of Tax – With the recent update on the GST, on a ready to move property you need not pay any Tax. It will help in saving a lot of money on the new purchase.

4. Legal status – Nowadays, it is easy to check the legal status of a property. You can quickly obtain an occupancy certificate, without any delays.

5. Internet is a reliable source – As a buyer, you can check the present situation of your property on the government and commercial websites simultaneously. Moreover, buyers can easily compare different projects online.

It also comes with certain Cons:

1. Risks – Although investments in property is a simple and transparent process, there is always a risk of government acquisitions. The property could involve buyers in prolonged legal battles. Customers need to check if there is any trespass on the property.

2. Finance – Investment in property demands huge capital requirement. Banks are offering easy schemes of loans on commercial and residential properties. But at times, they do not prefer to finance unless it is purchased from a reputed government authority like MHDA (Maharashtra Housing and Area development authority).

3. Outstanding dues – Though a bank will recover its dues fully from the bid amount. The buyer has to bear all the related liabilities on the property like pending society dues, electricity bills, etc.

4. Physical condition – Even before the property is auctioned or available to pay a visit the owner might stop maintaining it. You need to visit the house to assess its present condition.

5. Tenants in the house – Freeing a house from its tenants are difficult in India. So it is better to avoid a house which is already occupied.

With the above-mentioned pros and cons of buying a residential property, it would be easier to choose a reputed builder in Pune and finalize everything.