Discover Quality Resale Flats in Pune: Your Key to Affordable Housing

It’s not easy to purchase a flat for the first time in Pune, especially on your own. Several factors should be considered, such as price, location, EMI burden, neighborhood, amenities, distance from the office, etc. It can be challenging to foresee how a place will change. Their objective is to make us believe that every neighborhood has a lot of potential, that there will soon be six new schools and a dozen new tech parks nearby, and that investing in a home in what they’re suggesting will have virtually no downside! 

Uncertainty, however, is the issue for a home buyer. Often, infrastructure projects are delayed, new tech parks are not built, and the roads are frequently flooded, defeating the whole purpose of investing in an “up and coming” area. 

This is when purchasing a flat off-market makes sense. A resale property is one where the seller is a homeowner rather than a builder; the seller has already lived in or rented out the property and is considering selling it. Many people are wary of purchasing a resale flat in Pune because they believe it might be full of issues. While there are workarounds for this, let’s examine the benefits and drawbacks of purchasing a resale flat in Pune. 

Benefits of purchasing a resale flat in Pune 

When it comes to purchasing a home that is ready to move into, resale properties are considered more financially viable due to several factors, including the property’s age, the asset’s final cost, depreciation over time, the need for renovations, etc. There are numerous advantages to purchasing a resale apartment, including the following, regardless of what motivates you.      

Save on tax 

You will pay less tax if you purchase a resale flat in Pune. You are eligible for a tax exemption of up to Rs. 1 lakh under the Income Tax Act (Section 80C of the Income Tax Act allows for on-principal EMI). A tax deduction of up to Rs. 5 lakh is also available for home loan interest under Section 24B.   

Moving in ready 

You don’t need to wait for the building to be finished or stress about connecting your internet, cable, gas, etc. These facilities will all be available. The previous owners likely already have almost everything in a house that you’ll need to install and make functional. 


These older homes may be found in the city’s older neighborhoods. On the outskirts of cities, as well as in newer or developing areas, are new apartments. These areas are thoughtfully designed and already have everything you could want nearby. 

Drawbacks of purchasing a resale flat in Pune

The limited appreciation of resale apartments is a big issue. Compared to resale apartments, new apartments increase in value much faster in the first few years. When purchasing a resale flat in Pune, you pay the increased value! However, moving in and starting to live in the apartment is your main priority. 

The limited appreciation of resale apartments is a big issue. Compared to resale apartments, new apartments increase in value much faster in the first few years. When purchasing a resale flat in Pune, you pay the increased value! However, moving in and starting to live in the apartment is your main priority. 

Factors to consider before purchasing a resale flat in Pune 

When purchasing a resale apartment, there are many things to watch out for. Among them are: 

Rules and regulations

There is always an association that controls what happens in society if you purchase a flat there. The type of modifications that can be made to the house you are buying has to be confirmed with them. Some societies will have regulations governing the kinds of renovations permitted, the times that may be done, etc. Check with the building association for permission before searching for a home that needs significant renovations. 

Down payment and homeowners insurance 

When purchasing a resale flat in Pune, you should be aware that the insurance payout will be less than it might be if you had to buy a brand-new residence. For a resale flat, you must put down a minimum of 20%, higher than the down payment required for brand-new homes. 

Pending dues 

An essential thing to look for is all unpaid debts that the home’s owners are still paying. Late utility bills, such as those for water or maintenance, may be considered a debt. In some cases, the owner might not be willing to provide this information. 

When was the property built?

The question is: how old is too old? It is best to avoid any land at least 40-50 years old. At this point, you might have noticed significant structural damage to the home and building. You need to spend more money than planned because of the necessary remodeling and the additional repairs. 

Essential documents to see before purchasing a resale flat in Pune 

A house, apartment, flat, villa, or other resale property can’t be purchased without property documentation. When buying a resale flat, the following documents are required for resale flat registration:

  1. The primary legal document is the sales deed.
  2. The building plan will tell you if the structure has been sanctioned and approved.
  3. The occupancy certificate certifies that the building is fit for human habitation.
  4. Certificate of Encumbrance: the house has no liabilities.
  5. Tax Receipts: There are no outstanding tax payments, and everything is current.
  6. Access to all previously registered agreements under the Mutation Deed
  7. NOC: Certificate of No Objection
  8. Possession Certificate: from the builder to the owner and finally to you.

What are the charges for purchasing a resale flat in Pune? 

The bank does not typically factor in stamp duty and registration fees when you purchase a resale apartment. Stamp duty on a resale flat typically ranges between 5% of the gross transaction value with a registration fee of  Rs. 30,000/-

Hiring the right team to assist you may appear to be a waste of money, but when these fundamentals are not in order, you may cause far less.

Affordable Flat Prices for Burj Khalifa in Indian Rupees

.Everyone has heard about the Burj Khalifa’s stunning and captivating architecture. If you’re looking to buy a flat in Burj Khalifa then you’re at the right place. 

With a height of 2716.5 feet, or 828 meters in Dubai, the Burj Khalifa is the highest structure in the entire world. 

The Burj Khalifa is not only the tallest freestanding skyscraper in the world but also holds records for the most storied buildings, highest inhabited floor, huge outdoor observation deck, lengthy traveling lift, and the tallest service lift. 

Most people have heard of it more than the Eiffel Tower. It is a 200-plus-story multi-story building with 163 habitable levels.

In cooperation with Samsung C&T Corporation, Adrian Smith, and the architectural firm Skidmore, Owings & Merrill created the Burj Khalifa. 

Celebrities from Bollywood and Hollywood and several well-known figures have flats in Burj khalifa. The majority of the more than 900 apartments owned by the Indian house buyers in the Burj Khalifa, according to reports, are occupied by Indians.

An Overview of the Flats in the Burj Khalifa In Indian Rupees 

The Burj Khalifa, the highest structure in the world, has apartments. 900 homes are currently housed in the residential wing of the tower, which is located on levels 19 to 1-108. Apartments with 1, 2, 3, and 4 bedrooms are among the different types of real estate.

The Burj Khalifa’s levels 9 to 16 are home to the Armani Residence, which offers studio and two-bedroom apartments. The 144 suites highlight Armani’s modern yet underappreciated design. A 1-bedroom apartment in Armani Residence rents for about rs. 33,51,159/- while 2-bedroom apartments cost about rs. 67,02,318/-. Each apartment has Armani/Casa furniture. There are still several freehold alternatives available to real estate buyers: prices for 1-bedroom apartments start at rs. 4.5 crores to 11 crores. 

Similarly, apartments with 3 rooms of 4 rooms will cost above 216 Crores approximately.

Check out the pricing range in Indian rupees if you’re interested in purchasing a flat in Dubai, particularly in Burj Khalifa.

Types of Flats in The Burj Khalifa 

1-BHK Flat in Burj Khalifa 

The preferred option for the business class who frequently travels to Dubai for work is a 1-BHK in the Burj Khalifa. One air-conditioned room, a chic bathroom with additional hallway space, and a kitchen with real decor are all included in these apartments. Also, these apartments include Wi-Fi access and opulent extras like a restaurant and an outdoor pool.

It will cost you roughly AED 1,600,000 to own a 1-bedroom property in the Burj Khalifa. Check out the current pricing listed below in INR if you’re an Indian looking to purchase property in Burj Khalifa. Although many Indians invest in Dubai and frequently visit this paradise, choosing a Burj Khalifa 1-BHK flat at the current rate of Rs. 34748957.07/- in rupees will be your finest option if you’re there on business.

2-BHK Flat In Burj Khalifa 

The best choice for a nuclear family would be a two-bedroom home. The Burj Khalifa’s apartments typically come fully furnished. It provides you with a lot of luxury all at once. You will have access to a balcony from which you can in a bird’s -eye view of the city, two bedrooms, two bathrooms, and a fully equipped kitchen and dining area. Get a 2-bedroom apartment at this famous tower for about AED 2,500,000.

Hence, a 2-bedroom apartment flat in the Burj Khalifa will cost you up to Rs. 54295245.43/- in Indian currency. If you are Indian and Looking for a little additional space and choose to buy a different type. Experience more luxury space in this spectacular location of the highest skyscraper in the world, which allows you to reveal opulence on a new level.

3-BHK Flat In Burj Khalifa

Burj Khalifa’s 3-bedroom apartments are the most spacious and cost AED 6,000,000. It provides you with the best lifestyle possible amidst a wealth of cutting-edge conveniences. In addition to the standard 3-bed typology, it provides you with fully furnished fitness centers, a business lounge, a meeting room, additional recreation rooms, Wi-Fi services, and much more.

Parking spots, the greatest outdoor facilities, and many more added bonuses are included with a Burj Khalifa apartment. A fantastic balcony view is a delightful treat at the Burj Khalifa apartments, where you can take in some breathtaking views of Dubai. 

The Burj Khalifa 3 BHK flat in Indian rupees would thus cost you up to Rs. 130308589.02/- loaded with extra room, whether you are an Indian or not and purchasing a place in this most sought-after address in the globe. 

Things To Consider 

When Buying an apartment in the Burj Khalifa, everything is ideal and advantageous, from the neighborhood to society to your children’s education, but the Burj Khalifa is one of the most well-known towers in the entire world and the best tourist destination nearby for people who visit Dubai for their vacation. In the busy season, it might be crowded. The Burj Khalifa is the best place to consider having your own home, despite the higher prices of the nearby properties. 

Things you should know about GST in Real Estate

Centre's FY22 GST compensation amount should be higher than projected Rs  1.58 lakh crore: Opp-ruled states - The Economic Times


In 2000, the late Atal Bihari Vajpayee, the then prime minister of India, initiate a committee to draft new indirect tax law and i.e. GST which stands for Goods and Services Tax. It was launched to replace multiple indirect taxes in India. Such as excise duty, value-added tax (VAT), services tax, purchase tax, octroi, entry tax, luxury tax, and so on. Here, propertywala brings every fact and figure that you should know about GST in real estate.


The Goods and Service Tax Act was driven in Parliament on 29th March 2017 but it came into effect on 1st July 2017. It is the only tax that applies all over India and imposes on the supply of certain goods and services. However, GST does not replace customs duty, which is still required on imported goods and services. Different categories of products and services attract different tax rates under GST.

Now, we will go ahead with the GST regime which is given by our Honorable Prime Minister Shri Narendra Modi, In his words, the Goods and Services Tax (GST) is “a path-breaking legislation for New India”. Then, GST is not just a tax reform but a milestone in realizing Sardar Vallabhbhai Patel’s dream of building ‘Ek Bharat – Shrestha Bharat’.


1. It is applicable to under-constructed flats only.
2. It is because the GST does not cover the real estate sector under its range. Therefore, the tax rate applicable on a property is charged under ‘work contracts.

1. GST does not apply to ready-to-move-in flats, plots, and lands.
2. Upon completion and receiving the occupancy certificate i.e.(OC), the property is categorized as ready to move in. That is why a developer cannot charge GST on selling ready-to-move-in homes.


Everyone has a dream of a house. Well! It is fine if you are planning to buy a property. Because buying the right property is one of the biggest achievements in life. So, home buyers in India have to pay GST on the purchase of under-construction properties such as flats, apartments, and bungalows. Before hurrying on to the process, the foremost thing you must ask yourself is, “what is the GST rate on real estate?

Affordable housing1% without ITC (Input Tax Credit)
Non-affordable housing5% without ITC
According to the table, if the property is affordable,  the GST rate from April  2019 is only 1% without ITC. Also, for non-affordable housing, the GST rate is 5% without ITC.


Input Tax Credit refers to the tax already paid by a person on any purchase of goods and/or services that are used or may use for business. Therefore, it is available as a deduction from tax payable.


According to government norms, housing units worth up to Rs 45 lakhs are referred to as affordable housing in metro cities in which carpet area measures up to 60 sq. meters. The Delhi-National Capital Region, Bengaluru, Chennai, Hyderabad, the Mumbai-Kolkata are categorized as metropolitan regions. A housing unit in non-metro cities barring to be an affordable house, if it costs up to Rs 45 lakhs and has a carpet area of up to 90 square meters as mentioned in the given table.

METROSup to  Rs. 45 lakhs60 sq./m
NON- METROSbelow Rs.4590 sq./m


  1. It does not subsume the stamp duty and registration charges, which you still have to pay.
  2. Seller increases the cost of ready-to-move-in properties to factor in the GST cost. So, overall the under-constructed properties are still cheaper than ready-to-move-in properties. 

That’s all you need to know about GST when it comes to real estate.

How the dream of “Affordable Homes” turned into a nightmare!


New Delhi: When the National Consumer Dispute Redressal Commission (NCDRC) made a unique decision sentencing the CEO and directors of Parsvnath Developers to three years in prison for ignoring his 2019 reimbursement order. To home buyers, it looked like the end of a long, dark tunnel. Dozens of middle-class families have been in trouble since 2007.

Refund amount is to be made with an interest rate of 12% per year from the date of payment, which is equivalent to Rs 1.55 crore rupees per buyer. However, the company appealed to the Supreme Court, which upheld the NCDRC’s decision and gave a 3 months of relaxation, starting from 9th February. 

The apartments in Parsvnath Privilege, a residential group with a proximity to the future Jewar International Airport, were booked by buyers between 2007 and 2009 at a price of 50 to 65 lakh. Today, 12 years after the last reservation, there are only 3 of the 20 residential towers. Of the promised 958 flats, around 126 have been completed and ready for handover. The company is completely silent about the remaining 832 unfinished apartments.

More than 1 lakh apartments are still pending!

The Greater Noida Industrial Development Authority (GNIDA) identified more than 100 builders who have been classified as “defaulters”. Together they owe about Rs 6,000 crore to the authority.

The list of defaulters is big and consists names of well known developers like Amrapali, which owes GNIDA more than Rs 2,700 crore. Unitech owes about Rs 410 crore and Parsvnath owes about Rs 113 crores. The names of other big developers like Panchsheel and Supertech are also in the list.

In 2019, Indian Express reported that the promised 1.06 lakh apartments in Noida and Greater Noida are still pending, and haven’t been transferred to the owners. Around 1.03 lakh apartments in the Greater Noida area didn’t get the completion certificates. 

Jaypee Infratech Limited (JIL) has several pending projects and is yet to deliver about 17,756 of 30,000 apartments in the Wish Town project. Recently, several dissatisfied home buyers gathered in Jantar Mantar, New Delhi, to ask Prime Minister Narendra Modi to intervene in the JIL case in order to find a sensible solution.

According to some well-known real estate agents, in today’s scenario, builders don’t have enough capital to complete their projects. 

A report from property consultant JLL India 

In January 2020 JLL India in a report stated, in Delhi-NCR, Mumbai, Chennai, Kolkata, Benagluru, Hyderabad and Pune, around 2,18,257 residential units worth Rs 1,55,803 crore were delayed in different phases of construction. The Delhi-NCR had the largest insolvent companies or defaulters, accounting for about 70 percent in terms of volume and about 55 percent in terms of value. 

Meanwhile, Parsvnath has been undergoing losses since 2016-17. According to one disappointed home buyer, the company does not seem in a hurry to give the compensation money in order to fulfill NCDRC order.

Rakesh Dhir, a retired army officer, who was one of the six petitioners said. “All my savings have been finished and the company has to pay the compensation till 9 May”. Rakesh Dhir paid EMI for an apartment that he should have owned ten years ago.

Families that have taken possession also suffer different problems. A year ago 12 families had shifted in Parsvnath tower and the developer had given them unfurnished apartments. The buyers not only completed the tiling work on their own cost, but also paid an additional Rs 10 lakh for organizing security and maintenance. 

NCDRC strict order to Parsvnath!

Sukham Ahluwalia, homebuyer representative at the NCDRC, was pleased with the petitioner’s progress. He said- “It’s the first time that NCDRC has issued a strict order to Parsvnath.” The NCDRC had been trying to settle the case patiently. But the company denies to accept any terms and conditions. This forced the commission to issue a strict order.

In defense of the company, Manoranjan Sharma, Parsvnath’s lawyer said:- “The 3 month period or deadline has not completed yet.” When asked if the remaining apartments will be completed in the next few months, Sharma said, “This is not the subject the Supreme Court is considering. The company will give the compensation or return the money within the time limit issued by the court.”

It is clear that Parsvnath will comply with the NCDRC’s compensation order upheld by the Supreme Court.

John Lang LaSalle (JLL) in a report states that in the first quarter of 2021, home sales in seven cities, including Delhi-NCR, recovered by about 90% from pre-COVID levels. Out of the seven cities, Mumbai shows the highest sales figure, around 23% of new real estate sales in the first quarter of 2021, Delhi-NCR accounted for 21%. However, it is expected that figures may change till the second quarter of 2021.

Samantak Das, chief economist and head of research at JLL said.  “The strong sales growth shows clear signs of demand and renewed consumer confidence in the market.”

Why Greater Noida have more number of defaulters?

So, what is the actual reason behind these pending projects and why there are so many defaulters in the NCR region, especially in Greater Noida? Some local real estate agents and brokers have explained the cause behind this. Most of them believe that builders are spending beyond their capacity. 


Satyapal Verma, an expert in the Greater Noida real estate market, said, “The main issue is that one can easily lease a land in Noida-Greater Noida by paying just 10 percent of the whole land value. Further rest of the money can be paid through EMI. Therefore, builders here started investing too much and also launched so many projects at the same period of time. Soon they were unable to pay their EMI on time and ran out of working capital. 

Using bank money to buy more lands-

Another real estate expert said, “When Greater Noida came up, housing projects were advertised as ‘affordable’. At Rs 4,000 to 5,000 per sqft (range was actually “affordable” given the prices prevailing in the overheated Delhi NCR market). In general, these companies easily obtained construction loans from banks on favorable terms and without much difficulty. 

If they were careful with their finances, developers can easily benefit from the cost arbitrage and sell homes at the advertised affordable prices.

In this case, the cost arbitrage arises due to the enormous price advantage that the Greater Noida real estate market offers over rest of the NCR region. It didn’t work because a lot of these developers used the bank’s money to buy more new lands without completing the projects they had taken originally.

Soon developers faced liquidity crunch and the overheated market began to cool. Ultimately results in lower property prices and lower builder’s profits. As a result the trend of delayed possession continued to grow and the home buyers did not get their promised dream homes or apartments.

According to people’s opinions, only a government-sponsored rescue package can make Greater Noida’s ongoing projects work. Also Parsvnath’s decision showed that the country’s courts in no mood to tolerate uncooperative developers.

Also read:-

Noida Police attaches 56 illegally constructed flats in Shahberi

Best area to buy flat in Noida 2021?

Truth behind ‘Affordable Homes’

More affordable homes
Affordable home
April 21, 2010

A really interesting question rising up these days is that is affordable housing taken seriously by our policy planners and key stakeholders? Now-a-days, talking and discussing affordable homes has become a fashion, including those who were not as such associated with realty sector.

But when enters the term ‘affordable homes’, one must put up a question that affordable for whom?  Around 44% of our population comprises of people earning Rs 8,500 to Rs 40,000 as their monthly income and fall both in the formal and the informal sectors.  Are these flats for these 44% people?  Also, the banks are now backing out from providing home loans. Arun Mohan, a senior advocate and writer answered all these questions in his latest offering “Affordable Housing: How Law and Policy can make it possible” .

According to Arun Mohan, there are three areas that need urgent attention to provide affordable homes: One, availability of flats which are affordable; two, availability of bank finance; and, three, availability of land for housing. Also, crisis of confidence is one of the major problem due to which prices are so high and the market is restricted. He gave answers to these questions too.  After a keen analysis, he came to the conclusion that “certifying-cum-performance guaranteeing company” [or a regulator] is required, which would control the builders and issues a “wideguarantee certificate” to the flat buyer in order to ensure him that he will be delivered the flat he pays for. This guarantee will prove beneficial since both the flat buyer will be willing to part with his money and bank will also be willing to finance it.