Pune is the cultural capital of Maharashtra. The city has been an educational center, a hotbed for Marathi culture and tradition, and the birthplace of many famous personalities. It is now also the IT capital of the state with a young and growing population. Its proximity to Mumbai and recognition for being the second-best city to live in India, make it a major contender for investment.
Let us look at some considerations before investing in Pune:
Location
Location is a major factor when making the decision of investing in a property. A location that has all the facilities like schools, hospitals, markets, shopping areas, and recreational spots will ease everyday life considerably. Such properties also see a steady appreciation in value as most buyers look for these facilities. The property should also be easily accessible by local transport.
Research
General research is important to understand the parameters that impact the property market. These are different for different cities. Analyzing property prices, rental yields, appreciation trends, and demand-supply metrics is a good exercise for investors. For example – the township in Pune is preferred by home buyers.
Developer’s Reputation
Research the reputation, track record, and quality of previous projects of the builders in Pune before short-listing them. A lot of the information can be found online. Word of mouth is the most reliable of all reviews. This will give you an idea of the reliability and credibility of the builder.
Amenities and Facilities
The amenities and facilities of the projects can be compared to get a better understanding. Basic facilities like car parking, water management, and security are mandatory. Most projects offer amenities like a swimming pool, clubhouse, and children’s play park. The more amenities, the higher could be the price. The amenities also attract recurring maintenance and membership charges, especially in 2 and 3 BHK flats in Pune.
Legal Due Diligence
Ensure that the property titles and ownership documents are legitimate. The property should not have any pending legal encumbrances. The developer should have attained all the necessary permissions and approvals from the regulators and local authorities. This exercise will avoid legal complications in the future. The plans of your chosen property, dimensions, interior specifications, and other details should be cross-checked and verified.
Future Growth
From an investment perspective, localities that are upcoming or promise future growth get priority. Choose an area where major infrastructure development like new roads, metro railways, commercial centers, or industrial hubs are coming up. These factors appreciate the property value over time and give a regular rental yield.
With these considerations, you can rest assured of your investment to be safe and appreciated over time.