Pune, a dynamic blend of blooming modernity and historical charm, is home to countless individuals seeking a foothold in its vibrant real estate market. Whether you’re a young professional, a growing family, or an investor, learning about apartments in this diverse area requires a knowledgeable guide.
This is where your real estate agent in Pune steps in – but how do you ensure they’re steering you in the right direction? The answer lies in asking the right questions.
25 Questions For Real Estate Agents In Pune
When you are planning to buy a property in Pune and get a real estate agent, the first thing you should do is get answers to a set of questions we have curated for you; these questions help you understand the property well and make better decisions while buying.
Here’s our list of 25 questions to equip you with crucial answers from your Pune real estate agent:
1. What’s the current market condition (buyer’s/seller’s)?
Knowing the market power dynamics helps with pricing strategies.
2. What’s the average price per sq. ft for properties in this area?
This will help you understand the property price of that particular area, compare it with other similar offers and plan for your finances.
3. Can I get all the requirements I desire within my budget?
This ensures realistic expectations and efficient property searches.
4. What are the typical closing costs associated with properties here?
Factor these into your overall budget.
5. Is this project registered under MahaRERA? If so, could you share the registration number?
MahaRERA registration ensures project transparency and legal compliance. The number helps verify the registration and project documentation.
6. Are there any litigations on the project?
Unresolved disputes can delay possession or ownership rights.
7. What legalities are associated with this property (clear title, approvals)?
This ensures a smooth transaction free from disputes.
8. Are there any upcoming infrastructural developments planned for this area?
These constructions or expansions could impact value and noise levels.
9. What are the safety and security standards in this neighbourhood?
This is a crucial factor, especially for families.
10. What are the schools, hospitals, and shopping options nearby?
The proximity to amenities is a major consideration.
11. How is the public transport connectivity in this area?
This is important for those who rely on buses or trains.
12. What are this area’s noise levels and air quality like?
This affects quality of life significantly.
13. When is this project’s estimated completion date or possession date, as per MahaRERA registration??
Knowing the official timeline helps with financial planning and moving arrangements.
14. What is your commission structure, and how are you compensated?
This transparency builds trust.
15. Based on the market trends, what is your negotiation strategy for this property?
An experienced agent can advise on effective negotiation tactics.
16. Are there any senior citizen amenities or medical emergency facilities available?
These are crucial factors for those needing such support.
17. What are the typical property taxes and maintenance costs for this property type?
This will help you factor in ongoing expenses.
18. Can you elaborate on the payment plan options for this project?
Understanding payment options helps with budgeting and financial planning for the purchase.
19. Are you familiar with the RERA legalities involved in buying?
An agent well-versed in legalities protects your interests.
20. How will you keep me informed throughout the process?
Clear communication is key to a smooth transaction.
21. What happens if I am unsatisfied with a property you show me?
This ensures the agent is responsive to your needs.
22. Do you have experience working with buyers in my situation (first-time buyer, foreign investor)?
Having an agent with experience in similar situations is an advantage.
23. What’s the reputation of the developer behind this project?
A developer’s track record reflects project quality and timely delivery.
24. Does the project have pet amenities, and is the locality pet-friendly?
This is a crucial factor for pet owners.
25. What is the average turnaround time for loan approvals in this area?
This helps with budgeting and timelines.
These 25 questions will help you outline the property’s costs, timelines, surroundings, etc. Feel free to add more questions to this list whenever you’re curious or in doubt.
The Right Questions For Your Real Estate Agent
There are no right or wrong questions when purchasing a property. You should ask any and all questions that you feel like asking. Keep the following pointers in mind while asking and getting your answers from your real estate agent in Pune:
- Don’t be afraid to ask follow-up questions. There are no silly questions when it comes to such a significant investment.
- Get everything in writing. Once you’ve shortlisted a property, ensure all agreements, payment terms and negotiations are documented clearly.
- Consider seeking legal advice, especially for complex transactions.
With the right questions, a reliable agent, and a proactive approach, your Pune property hunt can be a successful and rewarding experience.
Know Your Real Estate Agent
Since you’ll be working closely with your agent for a long period of time, it’s better to know his/her credentials well before proceeding. Check if your real estate agent is RERA certified and registered.
MahaRERA has strict policies and guidelines for anyone operating in the primary sales market. Every real estate agent needs to have a valid RERA licence and a certificate of competency to consult the clients or transact with the developers.
FAQs
1. Is it a buyer’s or seller’s market in Pune right now?
The Pune real estate market can fluctuate, but generally it leans towards a balanced market. This means a healthy supply of properties is available, with neither buyers nor sellers holding complete dominance. However, specific areas or property types might experience temporary buyer or seller advantages. Discussing current market trends with your real estate agent is essential to understanding your negotiation leverage.
2. What are some up-and-coming areas in Pune with high investment potential?
When it comes to high-potential investment areas, the Pune Metropolitan Region (PMR), with its developing infrastructure, IT hubs like Hinjewadi and Kharadi offering good ROI, and Baner, Balewadi and Wakad, with their planned infrastructure and connectivity, are all worth considering.
3. What are the typical hidden costs of buying property in Pune?
While the base sale price is crucial, factor in additional costs such as registration charges (typically 1-6% of property value capped at Rs. 30,000), stamp duty (5-7% based on property value), GST (typically between 5 -12 % depending on the property type), society maintenance fees (monthly charges for common area upkeep), and parking charges (if applicable).
4. What are some important documents to look for when buying an under-construction property in Pune?
Review the MahaRERA registration number, MahaRERA-registered project documents, and the Title Search report for buying an under-construction property. Additionally, verify the clear property title.
