Top 5 Pros And Cons of Buying A Flat In 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.
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