Published On: Sat, Jul 4th, 2015

Guidelines for Buying Flats in Pune

If you are tired looking at flats in Mumbai, and are overwhelmed by the steep property prices, you should look at some other places. Satellite cities such as Navi Mumbai and Pune are considered to be very good options these days considering the low property rates as compared to Mumbai. If you have been staying for several years in Mumbai, you will feel emotionally attached to the commercial capital of India. The world does not end in Mumbai, you need to move on and discover new avenues for investment as well as stay. Staying in Pune is considered to be less expensive as compared to Mumbai and Navi Mumbai.

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The first step of buying any property is to identify the budget for the home. This is very important because you don’t want to be left behind because of budgetary constraints. Once you have set a budget, you will have to search for the property that falls within your budget. If you have a low budget and you don’t want immediate possession of the flat or flats in Pune, you can opt for an under-construction building. For under-construction buildings, you don’t need to make a full payment in one go. You have the freedom of making part payments, but in accordance to the terms and conditions of the developer. If you are taking a housing loan, then you will have to get the loan sanctioned first. Depending on your income, you will be granted certain amount of loan. There are some very important calculations that you need to do when you are buying a flat in Pune. If you will be buying the property on loan, then you will have to check out the EMIs or equated monthly installments for that loan.

When you are searching for a good property in Pune, you will come across several builders and their respective projects. Most of them may be genuine, but there may be some fake ones as well. Hence, you will have to be very careful when you are making any token payments. These payments are generally given to the buyer, giving him/her and assurance that you are genuinely interested in the property that he/she is selling. The token amount can be a few thousand rupees, for which the buyer will give you a proper receipt. You will have to deduct this amount from the finalized amount during the actual sale of the property. In some instances, the token amount is also called as an advanced payment.

Here are some areas/localities that you can consider when you are buying a flat in Pune. In the Ambegaon area, you can look at projects such as Astonia Royale, Bloomfield and MSR Olive. In the Baner area, you have plenty of choices such as Rohan Leher II, Rachana Bella Casa II, Solitare SEVEN, Park Grandeur, Park Valencia, Amit’s Sereno, EWA, Aldea Espanola, The legacy, Elysian, and Caroline.

Another interesting area is Hingewadi. Here you will find three very good projects – Kul Ecoloch, Air Castles and Surya Skies.