Are you looking for a flat in Pune? But are you overwhelmed with all the research to find your perfect apartment? Don’t worry! We are here to help you. Pune is a highly desired city in India, as it is the second-largest IT hub in the country and the top FDI destination.
The incoming professionals in Pune expect a life of luxury and a comfortable standard of living. The demand for flats for sale in Pune is rising. The need for a luxurious lifestyle has already caught up with supply, putting pressure on the developer community to move away from outdated standards and create new ones to satisfy the demand.
In prime areas like Baner, Anudh, Hinjewadi, Balewadi, and Bavdhan, Pune is now a perfect model neighborhood for sustainability and livability that meets international standards.
Most of us consider buying a home a significant and emotional decision. We ask questions when we decide to buy a home. When you live in a city like Pune, where the cost of living is very high, it is difficult to make this decision.
Advantages of buying ready-possession flats in Pune
Every buyer of a home must choose between a unit that is ready for possession and one that is still underway. It is a significant decision that demands serious consideration. Even though buying ready-possession apartments requires having a lump sum of cash on hand, it also has its own set of benefits.
Ready-possession apartments are great because you can move in and save money on rent. The builder may also agree to a price reduction and waive the floor rise. Thus, you get a much better deal.
For under-construction homes, buyers have to wait to get their dream home in hand. It induces a sense of uncertainty and the fear that the money may get stuck if the builder faces any problems. With ready-possession flats, the process is smoother-complete the required paperwork, pay the amount, get possession, and move in whenever you want. There is no fear of delayed delivery.
You get to see the finished product when you purchase ready-possession apartments. Before choosing an option, you can examine the construction quality, space allocation, required amenities, and other details. There are no concerns about overstated features, layouts, or amenities.
Immediate ROI (return on investment)
If you purchased it as an investment and choose not to live there, you can sell it as soon as it suits you. Families, young professionals, and students are keen on ready-possession apartments. Your rental income thus begins. It is a great help if you are paying the EMIs on the loan.
The disadvantages of purchasing a ready-possession flat in Pune
Payment schedules are rigid
Unlike projects still in the planning stages, the payment schedules for ready-to-move properties are stout. All payments, including the down payment, stamp duty, registration fees, maintenance fees, etc., must be made in one go.
More legal work and documentation:
When buying a property already ready to move into, much more legal work and paperwork are required than when purchasing a property under construction.
Fewer customization options
When the apartment builds, it’s possible to fully customize the rooms and home to suit your needs and preferences. But this option isn’t available if you purchase a ready-to-move property. You have to buy and stay in a home that is already complete.
Compared to projects still in the planning stages, ready-to-move-in units are expensive from a price perspective.
Why invest in ready-possession flats in Pune?
All under-construction property is hard to sell, especially if its delivery is postponed or embroiled in litigation. Most of the time, real estate developers don’t sell apartments until the entire project is done, and even then, they’ll charge you a hefty premium. You can avoid this risk by purchasing a ready-to-possess flat in Pune.
Save on rentals.
For ready-possession homes in Pune, you immediately start getting rent if you are not planning to move into your new home. Many homeowners prefer renting their homes if they invest in other cities. Each location typically has a fixed rent structure based on the amenities it offers and how recently it was built.
No down payment
The main advantage of a ready-possession flat is that the buyer only needs to pay the home loan’s EMIs before they can move in. Since the EMI won’t begin until the home loan and the rates may change, the homebuyer may be required to pay a higher interest rate for an under-construction property if the developer experiences any delays. The buyer might experience financial hardship and decide to back out of the deal to buy the property.
Documents to verify when purchasing ready-possession flats in Pune
Do you have any plans to move into a ready-possession flat in Pune? Have you located your ideal home? Furthermore, we understand that the ease of moving in as soon as possible may be the most essential aspect of it all, but research is necessary to make the process easier for you and your loved ones. It’s always the best choice to be aware of the essential documents you’ll need and to confirm them before moving to make the experience convenient.
The buyer verifies with the appropriate groups that the seller has settled all outstanding debts. Buyers should always request the seller’s original, most recent tax-paid receipts. The payment date, taxpayer name, and owner name must all be confirmed. However, every buyer should always verify that all documents and bills, including the water and electricity bills, are current and include names and area codes. You are making this property your own, so you must attend to every last detail.
The most important document on the checklist is a sale deed because it’s evidence of the sale and the transfer of the property’s title from the seller to the buyer. Before signing the contract, it is advisable to read the fine print and confirm that all terms and conditions are accurate and appropriate.
When a builder requests this certificate, the authorities inspect the requirements. The builder can obtain the certificate once it has received official approval. This certificate, a witness to the project’s readiness for occupancy, is essential for the buyer when purchasing a property or applying for a mortgage.
The municipal government issued this certificate. It demonstrates the completion of the project and that all requirements were satisfied. This document is essential when looking for a mortgage and buying real estate. Additionally, this certificate certifies that the property is fit for habitation when constructed following approved codes and other laws.
Locations in Pune to buy ready-possession flats
The Kondhwa is among the most notable locations in the southeast. Along with residential developments, this includes industrial entities. The distance from important city destinations and information technology hubs increases its value. Mohammedwadi, Undri, and Wanowrie are places that surround Kondhwa. Kondhwa is the renowned National Institute of Bank Management (NIBM). A wide range of contemporary civic amenities, including schools, colleges, hospitals, clinics, superstores, and other necessities, are also present in the Kondhwa area.
Thanks to the creation of corporate offices by foreign companies at Infosys, Wipro, Cognizant, etc., Hinjewadi is Pune’s largest IT hub. The presence of these MNCs in the area has benefited a variety of factors, including employment, real estate, connectivity, and social infrastructure and amenities.
The neighborhood of Tathawade, which is close to Hinjewadi, is a top location for investment and daily life. Tathawade is for homebuyers because of its luxuriant green surroundings, social infrastructure, and other features. Unique projects are being built in this suburb daily to provide upscale urban living. Hinjewadi, Pimpri-Chinchwad, Pimple-Saudagar, Wakad, and Ravet are nearby. Tathawade enjoys unrivaled capital appreciation as a result of its exceptional locational advantages.
On the outside of the city, in Pune’s northwest, is a neighborhood known as Balewadi. It houses the Shiv Chhatrapati Sports Complex, popularly known as the Balewadi Sports Complex. Balewadi enjoys proximity to Baner, Aundh, and the Mumbai – Expressway. Pearly White Dental Clinic, Apex Eye Care Clinic, and Life Line Hospital are the major hospitals in Balewadi. Balewadi High Street is famous for its bars, restaurants, and nightlife. Plus, it’s easy to find plenty of greenery in the surrounding area.
Know your neighborhood.
You can learn everything in advance when you reserve ready possession flats in Pune, including the layout, designs, and the neighbors you will have. It’s important because you would be surrounded by them every day. Other aspects of the house are subject to your control or modification, but you can’t alter the neighbors nearby.
A ready possession enables you to speak with potential neighbors and learn more about them and their way of life. You can also discuss the local schools and the caliber of the education with the parents who reside there. Verify that the parks and other amenities look satisfactory to you by inspecting them. You can plan your children’s commute to school or university, the best shopping malls’ accessibility, etc.