real estate developers in pune

buyers guide

Relevant features:

  • Choose the right project that fits your needs –
    Elaborate with right to- school location of your kids, office/work place for the couples, daily needs shops (convenience shopping), malls, entertainment, good neighbourhood, hospitals, easy connectivity, flat carpet area.
  • Avail home loan to cut tax-
    Section 80C: Tax benefit on Home Loan (Principal Amount)- The amount paid as Repayment of Principal Amount of Home Loan by an Individual/HUF is allowed as tax deduction under Section 80C of the Income Tax Act. The maximum tax deduction allowed under Section 80C is Rs. 1,50,000. (as per budget 2016-2017)
    Section 24: Income Tax Benefit on Interest on Home Loan- Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24 of the Income Tax Act. As per Section 24, the Income from House Property shall be reduced by the amount of Interest paid on Home Loan where the loan has been taken for the purpose of Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property. The maximum tax deduction allowed under Section 24 of a self-occupied property is subject to a maximum limit of Rs. 2 Lakhs (as per budget 2016-2017).
  • If possible try to convert indirect discounts into cash discounts to save on Stamp duty, Registration, VAT & S.Tax
  • Invest the amount thus saved into long term tax free bonds and mutual funds to maximize profits.

Things to look for while purchasing new house/ property

  • Check whether the builder has received all the approvals from the corporation/govt/departments
    Major approvals which includes
    a) Environment clearance
    b) Sanctioned layout/plan
    c) Work commencement certificate/ NOC
    d) Title documents
  • Survey the area thoroughly
    a) Check for approach roads
    b) Adequate Water/electric supply
    c) Transport facility, hospitals, educational institutes, other facilities etc
  • Have a clear idea about your needs.
  • Study the floor plan and amenity utility keeping into consideration future maintenance costs.

How do you know that a project has legal approvals from authorities?

The best way is to check if the banks are funding the project. Generally, banks approve projects and start disbursement only after all the approvals are in place.

  • Ensure that the documents of Title of the property you intend to purchase are clear. A defective Title will create problems.
  • Ensure that the building has been constructed as per the sanctioned plan and deviation, if any, is in the allowed limits. It should not be in a low-lying area or in a filled-up water body.
  • Ensure that the developer has clearance certificates from the Electricity Board, Water and Sewage Board and other concerned departments.
  • Commencement Certificate and Occupancy Certificate are other important documents that are necessary while buying property. Check out the genuineness of the documents with the concerned authorities.
  • Ensure Agreement for Sale and Sale Deed, duly stamped, executed and registered have your flat and parking clearly earmarked. Besides these, the document should also have 7/12 extract, commencement certificate and title search as a part of the registered document.

Why is it necessary to own property?

"In a country like India, where there is no social security, a house means a shelter from all sorts of storms. Beyond the comfort and security that owing a home offers, it has more tangible benefits too.

It forms an asset that is likely to bring in return on"

Steps to Book Home:

  • The bankers can help you in calculating your budget and the amount sanctioned. You will know how and what you can afford
  • Study various schemes offered and negotiate for better deals
  • Study the floor plan- its benefits.
  • Look for amenities which are useful and which does not increase maintenance unnecessarily
  • Read the agreement carefully.