5 Quick Tips On Investing in Pune’s Dynamic Realty Market
Mumbai has always been a fascinating city for real estate investors and potential home buyers. The popularity of the city is not about the ease of living but with its flourishing economy. Despite the fact that Mumbai is for the richest people still people have been flocking to the city owing to the quality of life and availability of jobs. However, the perception is changing and there are other cities in close proximity that are gaining popularity amongst people who are keen to invest, buy homes or come and live here. One such city is Pune. Barely 200 Kms away from Mumbai, this city has gained acclaimed on the real estate centre stage. The success saga started with the construction of the Mumbai-Pune expressway that lessened the distance between the two cities. The current scenario sees a good number of people working in Mumbai and living in Pune and in few cases, vice-versa. Pune has surpassed all the hurdles and managed to leave behind the likes of Mumbai. Here are 5 special yet quick tips on On Investing in Pune’s Dynamic Realty Market:
- The Location:
Pune is a big city and has a number of localities that differ in terms of infrastructure and living standards. After carefully examining your savings and addressing your requirement carefully, you can choose from the options available. Location has an important role to play as this one aspect will decide many other pointers like travelling time, safety and commutation. You will have to check certain pointers here; firstly, whether the chosen locality is centrally located or the residential project that you are eyeing upon is free from pending litigations. Then there are other things that relates to Location like buying price, development statistics and many more.
- Check For a Trusted Broker:
No matter how much technology has gained importance in the past, it is still impossible to ignore the worth of real estate agents. These people understand the business very well and have been into each and every project in-person. These agents have changed the way they operate in the industry and have taken up technology to boost the process. These people deal better and can actually help you nail a good deal in the real estate market of Pune. The key is to not stick with one and contacting multiple agents to have a variety in hand. There are many agents; some of them are registered and rest not. Be sure to check the details before contacting any one of them.
- Real Estate Portals:
Following the advice listed at number 2, you can further enhance your property search by using popular Indian real estate portals. If you surf through the net, you can have a good number of websites that can help you in finding best real estate projects in your chosen locality. Apart from a list of potential home or commercial projects, you can even get the price range, contact of the owner/broker managing the project and even the details of the interiors in some cases. These websites can actually act as a virtual information reservoir at times when you can’t physically access the brokers.
- Check For Banks & Loan Options:
Pune is a city for expatriates and affordable housing deals. This makes applying for loans for buying a home or an office space extremely easy and accessible. Since, after Mumbai, it is Pune that is standing proudly on its real estate prowess thus, there are a lot of monetary benefits that you can ask for here. Reputed financial institutions, such as State Bank of India, HDFC and LIC have collaborated with many residential projects stationed in different parts of India and Pune is also a part of the same story. You can now check out the projects and also see the linked banks so that finance is not an issue.
- Special Attention For Under-Construction:
Things look easy for ready-to-move and new launches as the project is complete and assessing information related to the same is easy and visible. However, situation is different when it comes to investing in under-construction property. The residential segment in Pune is an amalgamation of all sorts of projects and you must see to the following pointers here for under-construction:
Get the technical specification of the projects like floorings, safety, expected amenities checked before giving away the booking amount
- The construction risks should be assessed
- The track record of the developer should be checked
- Repositioning potential
- Refinancing potential and Refurbishment potential
These tips are quick, important and should be checked at the forefront. The real estate industry running in Pune is huge and has a lot of potential. Be a pro and keep these tips in mind while making an investment. Rest remember that practical experience is also good to keep in kitty!
Vineeta Tiwari is a keen writer on Economy and real estate markets and trends. She has written articles on realty news and trends that drives the industry. Currently, she is professionally associated with popular realty portal, 99acres.com.Google+ image