7 Things To Know Before Buying A Property in Pune

by Kasturi Pillay Developer

Before you buy a property, it is important to do research and understand a different point of view. Choosing the right property for your investment is very important because it is going to be your future home.

Today we are going to list a few things you must consider before you buy flats in Pune.

1. Location

Living in a good location is significant irrespective of the city you are looking for. Pune is a modern city and most of the areas here have reached essential things n a few minute's distances. Investing in locations like Baner, Magarpatta, Kharadi is very good as all of them are developed areas equipped with superstores, malls, hospitals, and a lot more.

2. Builder’s reputation

It is important to research your builders. It is always better to play safe. Often some builders are not reliable enough and promise you a lot of things but don't give you any after the building is ready. When you buy flats in Pune, make sure to check all these factors and you can check the builder’s reviews both online and offline.

3. The carpet area of the flat

Before buying any flat, you must understand what is carpet area of the flat and is it sufficient for your family?

If you are buying flats in Pune just for investment purposes then the carpet area doesn’t matter until and unless you have a tight budget. If it is otherwise then a decent carpet area becomes very important.

In Pune, the prices of 1BHK, 2BHK is affordable for developing areas and moderately expensive in posh locations of Pune.

4. Legal checking of the flat

Make sure that the flat you are about to buy is clear on the paper. Check all the legal standing of the plot of land as well. The real estate manager must show the letters of approval and NOC (no-objection certificates) from various government bodies and boards like PMC and PCMC. If you are buying a flat in Pune via a bank loan, then the bank does this job of legal checking for you.

5. Additional and Hidden charges

Read every clause of the property documents. You must understand all the details written on it. You can also hire a property lawyer to guide you through the specifics. Make sure to take a look at what additional payments you are paying, some of them are stamp duty, home loan fee, GST, etc. If you think you are paying more than required then consult a professional.

6. Possession of the apartment

At Pune, the trend of delayed possession of residence is not too high. But you must have a clear idea about the timeline. If the real estate developer asks for a grace period of six months or more, seek an explanation.

7. Land records

On what does the building stands on, make sure to do thorough research about the topography and soil quality of that area. Also, there must be no pending dues of the plot of land and the registration is clear.

So, here are a few things that you must keep in mind before you buy a flat!