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New Residential Project in Pune – Things to Look For

by kulpune

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A number of property experts opine that purchasing a new residential project in Pune is a wiser decision than purchasing ready/used homes. This especially holds true when you need to arrange for finance options from banks or other financial institutions.

Alternatively, if you are not in a hurry to take possession of your property, you could also consider the option of pre-launch offers. However, when it comes to a pre-launch offering, it is extremely important to go with a reputable builder. Failing this, you might subject yourself to financial losses if the project fails to take off.

This article elucidates some basic steps to follow when you are on the lookout for residential flats in Pune.

East Pune or West Pune?

When you decide to purchase a residential property, you would need to take into account other important locations such as: your office, your kids’ schools/college, your spouse’s work place, proximity to other important landmarks or medical centers, and so on. The eastern side of Pune mainly comprises locations such as Mundhwa, Kalyani Nagar, Vimannagar, and the western side of Pune features fast-developing locations such as Baner, Baner Annex, Aundh, Wakad, and Hinjewadi.

Specifications of the property

This stage would require you to decide whether you need a 1BHK, 2BHK, 3BHK or an independent row house. There is no dearth of new residential project in Pune provided you have your priorities set right. If you need projects with specific amenities such as a swimming pool, a health club, or a temple, you would need to factor in these aspects during this particular stage. Also, if you have a requirement for other add-ons such as a dry kitchen or an extra balcony, these factors would determine your property search.

Financing options

It could take anywhere between a few weeks to a few months to get the property of your choice. But once you have found it, you would need to get your finances together to make down payments and book your property. If you find that you are short of finances, there is also an option of taking a bank loan. A bank loan from a reputable financial institution will help you realize your dream home. Banks customarily have certain pre-approved developers whose background has been checked and found to be satisfactory. Experts opine that financing your residential flats in Pune becomes easier when you choose a reputable real estate developer.

Gathering and scrutinizing important documents

Property purchase is governed by several important legal documents. These include no-objection certificates from various departments of your local municipal corporation, title deeds, development permissions, permission to sell the development property and so on. In case of an under-construction property, the sale agreement and development agreement are very important.

Finally, you would need to also verify if important dues such as water tax, electricity bills, costs pertaining to society formation, etc have been cleared till the current date. Of course, once you take possession of your new residential project in Pune, all of these expenses become your direct liability.

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