Your Easy Guide to Buying Real Estate in Pune

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hardik, April 10, 2019

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Pune is slowly becoming a sought-after residential destination, attracting people from all over India because of its ample job opportunities and education options.

Also, it is witnessing rapid real estate growth owing to the increase in IT jobs in the city. As a result, Pune real estate offers options that suit different tastes.

That said, with so many choices before you, it may be tricky for you to select the right one. From 1 BHK and 2 BHK flats in Pune to luxury houses, based on your family’s requirements you can look for the perfect space to call home.

While planning to invest in a property in Pune, a number of concerns related to specifications, locality, and amenities may pop-up in your mind.

Here is the list of questions that you need to address before buying a property in Pune, to ensure that your investment is a sound one.

What is your purpose of buying a house?

First, understand the purpose for which you are buying the house or how you will use it. This is important because you may purchase a different kind of home if you’re looking to rent it out, versus if you were to stay in it yourself.

If you choose the latter, it’s also important to have a hold over your and your family’s requirements. Keeping this primary factor in mind you can move on to step 2, which is deciding whether you want to buy a ready-to-move-in house or an under-construction property.

By ensuring clarity at this stage, you can simplify the home-buying process.

Additional Read: Top 3 Localities to Get an Affordable 1 BHK Flat in Pune

What does Pune’s real estate market offer?

Pune’s real estate market has a wide variety of properties to choose from. So, with a defined purpose in mind, you can choose to invest in a flat, a villa, or a bungalow as per your preferences and budget.

According to the 2018 market trends, you can buy an apartment in Pune between Rs.34 lakh and Rs.71 lakh, which is a competitive price compared to apartments in other cities.

On the other hand, you can also buy a villa in Pune if your budget permits, as they start at Rs.9 lakh and go up to Rs.25 crore.

Which is the best location to buy a house?

With a purpose and budget in mind, decide the area in which you want to buy a property. Here too the purpose for investment will be the key factor.

This is because if you want to invest keeping resale value and rent rates in mind then you should choose areas like Wakad, Wagholi, Talegaon, Bavdhan, and Sinhgad Road.

All these areas are good from an investment point of view as they have high potential for capital appreciation and will offer you good rental income too.

On the other hand, rely on areas like Koregaon Park, Kharadi, Viman Nagar, Magarpatta, Aundh, Hadapsar, and Hinjewadi if you want to self-occupy the property as they are prime residential localities and offer all the creature comforts you may desire.

Well-developed infrastructure, be it hospitals, schools or entertainment centres, is within easy reach.

How much can you afford to invest?

This is one of the most important questions that you need to ask yourself before buying a property in Pune. Consider your existing debts and monthly expenses to know how much you can afford to invest in a property at this juncture.

This will help you learn how much you need to borrow as well as how much you can comfortably repay.

What are the best options available?

Once you are done with all the research, look for different projects by trusted developers and zero in on a property. There are a host of residential opportunities in projects such as Kolte Patil Life Republic or DS Park Royale Apartment available at affordable prices.

Other reputed builders include Godrej Properties, Tata Value Homes, Kalpataru Group and Oxford Properties. Doing your due diligence about the property and the developer will help you invest smartly.

This real estate guide will help you get the right home as per your requirements. When you decide to buy a property in Pune, you can also consider home loans of up to Rs.3.5 crore from Bajaj Finserv Homes & Loans.

Apart from the high loan amount, Bajaj Finserv Homes & Loans also offers added benefits like a property dossier, in-person site assistance, documentation support, a competitive interest rate, and nil prepayment charges. To access these benefits in no time at all, all you have to do is check your pre-approved offer and apply.