Investing in Pune is a smart decision as the city has witnessed high appreciation in property prices in recent years. Investing in real estate at best locations, with good connectivity, convenience, social infrastructure, and growth potential will give the best returns in the long run.
The following tips will come in handy while investing in Pune properties:
Location
There are different vibes and specialties within the many locations of Pune that one can consider. Some locations offer a cosmopolitan and busy vibe with many pubs, restaurants, and cafes for an active social life. There are regions in Pune that are tranquil, away from the hustle and bustle of the urban areas. Projects that 1 BHK flats in Kothrud offer a quiet and relaxed life amidst lush greenery.
Property Type
Pune offers a range of property types to suit the buyer’s needs. Flats, villas, apartments, and bungalows are some of the options to choose from. Each type of property comes with its advantages and disadvantages. Investing in residential projects in Pune results in savings and getting lucrative offers.
Budget
Knowing your budget is one of the first steps in buying a property. It’s only then can the properties be shortlisted from various options available. The buying process also involves other significant costs. Registration fees, stamp duty, legal expenses, and maintenance charges should be factored in during budgeting. The property should be evaluated for its long-term returns considering all factors involved.
Infrastructure and Facilities
The social infrastructure and facilities should be evaluated by visiting the location. The locality should be well-connected to educational institutes, markets, hospitals, and recreational places. The location should be well connected to other areas by road or rail with good frequency of public transport. It should be close to the workplace and everyday necessities.
Legal and Regulatory Compliance
The property should have clear titles. It should have all the required permits and clearances from the relevant authorities. A legal expert can be hired to help through the process to make sure that there are no inconsistencies in the paperwork. The papers should be checked for authenticity to avoid difficulties later. Check for the project listing on RERA and the if the details there match those provided by the real estate builders and developers in Pune.
Investing in Pune is a good option and like for any location the necessary research and due diligence should be carried out before signing the papers. Following the above steps will help getting regular rental income and appreciation in property value with time.