Pune has been repeatedly ranked as one of the most liveable cities in India. In 2018, the Ministry of Housing and Urban Affairs (MoHUA) placed Pune at the top of the list among 100-plus cities in terms of livability. In 2023, again, Pune grabbed the second-highest position in the Quality of Living Index released by Mercer.
Hence, it’s no wonder this metropolitan region is experiencing a rising demand for new homes. Thousands of families aspire to own an apartment in Pune. While several others want to purchase one for investment purposes.
Irrespective of the motive, there are certain things you cannot miss while buying a flat in Pune. This concise apartment buying guide will help you choose the best apartment in Pune that is suited to your needs.
Things to Look For When Buying a New Apartment in Pune
We have curated a list of steps to follow when buying a new apartment in Pune. By following these comprehensive steps, you’ll be well on your way to finding your perfect flat in Pune – a place that reflects your lifestyle and provides a secure and comfortable haven for you and your loved ones.
1. Choosing Your Ideal Location
Pune’s diverse neighbourhoods each boast their own unique character. Do you crave the energy of the city centre, or yearn for a peaceful, family-oriented environment? Consider your commute – how close do you want to be to your workplace? Are there good schools in the area for your children?
Easy access to hospitals, shopping centres, and public transportation are all important factors. Safety, of course, is paramount. For example, places like Baner, Hinjewadi, Wakad, and Kharadi are gaining popularity these days on the real estate market of Pune, owing to their amenities, new developments and influx of opportunities. By prioritising your needs and lifestyle preferences, you can narrow down your search to the perfect flat area in Pune.
2. Partnering with a Reputable Builder
Selecting a trustworthy builder is crucial for a successful flat purchase in Pune. Don’t just take their word for it – investigate their past projects. Look for online reviews and testimonials from past clients to gain valuable insights into the quality of construction and overall customer satisfaction. Word-of-mouth recommendations from friends or family who have recently bought flats in Pune can be especially helpful.
3. Ensuring a Smooth Legal Process
Before you finalise the deal, it’s vital to ensure everything is legally sound as per MahaRERA. Verify that the builder has obtained all necessary approvals and permissions from local authorities like building approval, sale deed, encumbrance certificate etc. Be on the lookout for any potential legal disputes or ongoing litigation associated with the property. A builder’s track record for timely project completion is also important. You want to avoid delays and ensure a smooth handover process.
4. Understanding the Financial Scope
Transparency in finances is key. Ask about the down payment amount and establish a clear payment plan for the remaining balance. Don’t forget to inquire about any additional costs that may arise, such as parking charges or ongoing maintenance fees. Having a comprehensive financial picture empowers you to make informed decisions and avoid unexpected expenses.
5. Exploring the Amenities
Many flats come with enticing amenities that can enhance your lifestyle. Do you dream of relaxing by a swimming pool, getting fit at a gym, or having a playground for the kids? Prioritise features that align with your needs and those of your family. Remember to factor in the maintenance charges associated with these amenities to ensure they fit comfortably within your budget.
6. Negotiating for the Best Deal
The real estate market in Pune is dynamic, and builders may be receptive to negotiation. Don’t be afraid to discuss the price! Do your research beforehand and approach the process with realistic expectations. You might be surprised by what you can achieve through a well-informed negotiation.
7. Think About The Resale Value
While you’re excited about your new place, it’s also smart to consider the future. If you imagine selling your flat someday, research the current market value of similar properties in the area. This knowledge will give you an idea of how much your flat might be worth down the line, allowing you to make a sound investment decision.
Keep these pointers in mind while looking for your next property investment in Pune. They will help you find your dream apartment in Pune, while making a wise financial decision as well.
Buying Your Next Apartment in Pune
Now you know all the crucial points to consider before buying an apartment in Pune. Ultimately, everything comes down to your priorities, personal taste, and the lifestyle you desire. The above points will help you finalise the best apartment in Pune and also help you avoid any kind of future difficulties in your newly purchased flat.
You can also check out our blog “Questions to Ask Your Real Estate Agent in Pune”. Here, you’ll find a list of questions to ask your real estate agent when you find a suitable apartment for your needs. These questions will help you understand the property better and make a better decision.
FAQs
1. How can I buy a flat in Pune?
Once you find a suitable flat in Pune, check all the legal aspects of the property. If they are satisfactory, negotiate and finalise the deal with the seller. Discuss the payment terms and arrange for the finances. Next, register the apartment in your name. To do this, pay the required stamp duty and registration fees and then visit the sub-registrar’s office.
2. Which documents should be checked while buying a flat in Pune?
You must check the following documents when buying a flat in Pune: title deed, building approval, Builder Buyer agreement, and RERA registration.
3. Which are the best areas to live in Pune?
If you are a working professional, consider purchasing an apartment in localities like Baner-Balewadi, Sus, Wakad, Mahalunge, which are close to major IT hubs.
