Fill out the form and let our team assist you with solutions tailored to your needs. Enquire now and make your aspirations a reality!
This factor plays an important role in your daily life and long-term satisfaction. When it comes to evaluating the locale of your prospective apartment, here are the key aspects to consider:
Proximity to Essential Services: Consider the convenience of having leading schools, hospitals, and shopping avenues nearby
Accessibility: Ensure easy commuting with seamless access to major roads, metro lines, public transport, and more
Future Infrastructure Developments: Conduct research on upcoming or planned metro lines, highways, and other projects that can increase the value of your property
Safety and Security: Assess the area’s safety by checking crime rates and the presence of safety measures like CCTVs, street lighting, and regular patrolling
Quality of Life and Community Atmosphere: Ensure a pleasant living experience for your family, by evaluating green spaces, noise levels, and the friendliness of the community
For example, Kothrud in Pune is a well-located neighbourhood known for its excellent infrastructure and amenities. It offers a balanced mix of residential and commercial spaces, with easy access to renowned schools, hospitals, and shopping areas. The area is well-connected by public transport, major roads, and metro line – making commuting convenient. Additionally, Kothrud is known for its safety, green spaces, and vibrant community atmosphere, making it a desirable location for potential homebuyers in Pune.
The legacy of the real estate developer – especially their track record over the years across the country – is a critical factor in ensuring successful Pune property investment. Here are the key steps to evaluate credibility:
Research the Developer’s History: Start by examining previous projects to gauge the developer’s expertise and the quality of construction. For instance, SOBHA is a reputable builder in Pune known for its world-class quality standards, timely completion, and iconic projects across multiple cities in India.
Online Reviews and Ratings: Check with past homebuyers to gain valuable insights into their satisfaction levels with the developer’s projects
Legal Issues and Disputes: It is essential to check for any legal issues involving the developer, as these could affect your investment
Adherence to Delivery Timelines and Construction Quality: Verify the developer’s track record in adhering to the promised delivery schedule and maintaining high standards of construction, to avoid delays and ensure your apartment meets the expected quality.
It is paramount to ensure all clearances are taken and the documentation is in order, when buying an apartment in Pune. Here is a checklist to help you verify essential legal documents:
Title Deed and Land Ownership: Verify the title deed to confirm the seller’s legal right to sell the property
Approvals from Local Municipal Authorities: Ensure all necessary approvals are obtained from the authorities, to avoid future complications
Encumbrance Certificate: Check the EC to confirm there are no pending legal dues on the property
RERA Registration and Compliance: To protect your investment, confirm that the apartment project is registered under MahaRERA and complies with all the required regulations
Sales Agreement and Terms of Sale: Carefully review these to fully understand your rights and obligations
Checklist for Verifying Legal Documents
The specifications of the apartment significantly impact its liveability and resale value. Evaluate the size and floor plan of the flat, to ensure it meets your space requirements and preferences. For an under-construction apartment in Pune, inspect the quality of construction materials (cement, sand, etc.) and finishes to guarantee durability and aesthetic appeal.
Verify the availability and quality of essential utilities such as water, electricity, internet connectivity, and gas, as these are crucial for daily living. Consider the apartment’s ventilation, natural light, and overall design to ensure a comfortable living environment. Additionally, you can review the floor plan and space utilisation to ensure efficient use of space and functionality.
The availability and quality of amenities and facilities in Pune can significantly enhance your living experience. Here are the key indulgences to look for:
Basic Amenities: Ensure the presence of essential facilities such as parking, elevators, and security. These should be well-designed and regularly maintained, to ensure a safe and convenient living environment for your family.
Recreational & Fitness Facilities: Amenities like clubhouse, swimming pool, gym, sports facilities, and recreational areas add value to your lifestyle by offering convenient options for fitness and socialising.
Maintenance of Common Areas: Check the upkeep of common areas and facilities to ensure they are kept in good condition. This is important for maintaining the overall appeal and functionality of the apartment complex.
Community Living Features: Parks, children’s play areas, and landscaped gardens contribute to a family-friendly environment – making your apartment more attractive for long-term living.
Unique Amenities Offered by High-End Projects in Pune
High-end projects in Pune, such as SOBHA Nesara, offer a range of exclusive amenities that set them apart. Some of these unique features include:
Jogging and Walking Tracks: Dedicated tracks for jogging and walking provide a safe and pleasant environment for outdoor exercise
Children’s Play Area: Well-designed spaces equipped with modern and safe play equipment for children of all ages
Open Air Deck: Open-air venues for entertainment and cultural events, adding a unique cultural touch to the living experience
Senior Citizens’ Area: Dedicated spaces for senior citizens to relax and socialise, promoting an inclusive community environment
Clubhouse: Multi-level hub of indulgences, with multipurpose hall, coworking space, spa, salon, jacuzzi, library, cafe, and more
Evaluating the resale value of flats in Pune and their investment potential is important for a sound property decision. Start by examining recent price trends in your preferred areas, to understand how property values have fluctuated over time. Analyse the demand-supply dynamics in Pune’s real estate market to gauge how quickly you might be able to sell the property.
Consider future growth prospects and infrastructure developments, such as upcoming metro lines or commercial hubs, that can significantly boost property values. If you plan to rent out the apartment, assess the rental yield potential to ensure a steady income stream from your Pune property investment. The average monthly rent in areas like Kothrud in Pune has shown promising trends and currently stands at ₹23,972 per month (Housing.com).
A thorough inspection and quality check are essential before buying an apartment in Pune. Here is a checklist to guide you through the process:
Apartment Inspection Checklist
1. Physical Inspection
Construction Quality: Look for any signs of wear & tear, cracks in walls, or damage that might require repairs. Examine the overall construction quality.
Flooring and Walls: Check the condition of the flooring and walls. Ensure there are no visible defects or damages.
2. Plumbing and Electrical Fittings
Plumbing: Test all taps and flushes to ensure there are no leaks or blockages. Check the water pressure and drainage systems.
Electrical Fittings: Inspect all sockets, switches, and lighting. Ensure they are in good working condition and meet safety standards.
Appliances: If the apartment comes with appliances, check their condition and functionality
3. Safety Measures
Fire Safety: Confirm the presence of adequate fire safety measures such as fire extinguishers, smoke detectors, and sprinkler systems
Emergency Exits: Ensure that emergency exits are clearly marked and accessible
4. Additional Checks
Ventilation and Natural Light: Ensure the apartment has good ventilation and adequate natural light
Noise Levels: Assess the noise levels within the flat and from the surrounding area
Structural Integrity: Look for any signs of structural issues, such as uneven floors or sagging ceilings
Guide to Conducting an Apartment Inspection
Pre-inspection Research: Gather information about the developer’s reputation, previous projects, and reviews from past homebuyers
Inspection Tools: To document key issues or observations, carry a flashlight, measuring tape, notebook, and mobile with camera
Checklists: Use the above checklist to systematically inspect the apartment
Professional Help: Consider hiring a professional inspector for a detailed assessment, especially for plumbing, electrical, and structural integrity checks
Begin by examining the demographic profile of the current residents, to ensure it aligns with your lifestyle and preferences. The social and cultural environment can significantly impact your living experience, so it is important to consider the prevailing atmosphere. Engage with residents or plan visits during community activities & events, to understand the community dynamics. Additionally, review the housing society’s rules & regulations to ensure they are conducive to your living standards and expectations.
These play a key role in the quality of life and the resale value of flats in Pune. You can ensure a healthy living environment for your family, by assessing the proximity of the area to industrial zones and the associated pollution levels. Consider the sound levels and the impact of nearby commercial activities on your peace and comfort.
Green spaces and parks are essential for recreation and relaxation, enhancing the overall appeal of the apartment complex. Finally, investigate the environmental sustainability practices of the gated community – such as waste management, water conservation, and energy efficiency – to ensure a responsible and eco-friendly living space.
Investing in property remains the most lucrative mode of investing hard-earned money to maximize returns. It is the best mode to create extra residual income, and financial security, and diversify your investment portfolio. The construction activity by the developers in Pune is going on at a frenetic pace with many opportunities to invest in the near- and medium-term periods. With a consistent rise in rental returns over the years, Pune is a major real estate investment destination. Investors can enjoy many tax incentives on all property types including flats, apartments, villas, and plots. One can save on the taxes paid towards the income earned from the property and maximize their returns.
The value of any property in Pune depreciates over time when compared to that of a newly constructed one. A depreciation allowance can be claimed on properties that are used for income-generating purposes like rentals. The real estate investor can enjoy significant tax benefits by annually deducting depreciation allowance for the wear and tear of the property.
A property investor can deduct the necessary expenses for maintaining and managing the property which includes write-offs like utility, maintenance, advertising, property tax, and repairs. This is a very advantageous benefit of investing in property and can result in savings for the investor. Also, if there are any expenses incurred by hiring property management services to carry out the day-to-day management of the property like tenant screening, rent collection, and advertising. Expenses incurred for repairs, maintenance, and improvements on the property used as investments are tax deductible.
One of the smart investment moves is to invest in a property using a loan and then use the rental income to pay for the mortgage. The interest paid on the mortgage loans is deductible. A high-value property in Pune usually needs to be financed by loans and mortgages.
The recently passed Tax Cuts and Jobs Act allows 20% of taxable income gained from profitable rental businesses for pass-through deductions. Pass-through deductions apply to passive income earned by not physically working for it. This benefit is available to only those businesses that are profitable.
Capital Gains tax is applied on the profit earned by selling property. It can be short-term or long-term capital gains tax. The tax amount is lower than income tax. Long-term capital gains apply to properties that have been held for more than a year. The tax on these properties is lower than that on short-term capital gains which is applicable in properties that have been held for less than a year. The tax write-offs that real estate investments offer can be highly profitable. The trick lies in knowing how and when to take advantage of it to increase the gains on your investments.
Understanding the economic aspects is crucial, when buying an apartment in Pune. Assess the overall cost of the apartment, including any hidden charges that might arise. Check your home loan eligibility and compare interest rates & terms from different lenders, to secure a good financial agreement. Be aware of the down payment requirements and the payment schedule, to plan your finances effectively.
Monthly maintenance fees and other recurring charges should be considered while evaluating or formulating your budget. Finally, evaluate the potential for property appreciation and return on investment (ROI) to ensure your Pune property investment is financially sound and beneficial in the long term.
Fill out the form and let our team assist you with solutions tailored to your needs. Enquire now and make your aspirations a reality!
