Buy Residential Projects in Pune and Ensure Maximum ROI

   

It is an evident fact that real estate projects in Pune in the past few years have gripped the attention and interest of a host of investors from different parts of the country to invest in the venture with the view to earning maximum returns on their investment. Pune is located at an affordable distance from Mumbai, the capital of Maharashtra city, and is today the hub of several IT industries and various other types of commercial companies. Now with the increase in population in Pune because of fast developing industrialization, the city really offers a prodigious opportunity for investors to invest into Pune residential projects and commercial projects. 

It is high time for Pune city to experience remarkable development in the area of IT companies, education institutes and Multi National Companies. Additionally, the new residential projects in Pune, commenced by various builder and developers are also thriving plentifully as more and more people from not only Pune and other parts of India but NRI’s are also desperately looking for houses in the city. Considering the increasing demand in the housing projects in Pune, builders and developers vie in mutual for offering second to none facilities and services. At the same time, when it comes to commercial properties. Pune real estate builders and developers offer second-to-none amenities in the housing projects to win the confidence and trust of the potential property seekers and investors easily. 

Some of the most popular areas in Pune where Pune new residential projects are underway include Mundhwa, Magarpatta, Viman Nagar, Koregaon Park, Kalyani Nagar, Baner, Kharadi, NIMB, Wakad, and so on. 

In today’s time, people go through very hectic and fast-paced life and with this in mind, it is essential that when they return to their homes after working throughout a day, they can get the full convenience and comforts. Considering the fact, the real estate developers in Pune has turned over a new leaf in the way of their construction and they now follow state-of-the-art style by developing customized luxury apartment in Magarpatta, Mundhwa, Koregaon park and other areas of Pune. 

The new housing projects in Pune are becoming the thing of attraction for home-seekers in the city because of the nice weather all the year around and the scenery of mind-boggling landscapes and vegetation. Additionally, a wide spectrum of educational institutions is also sparking the interest of students from all over India who are looking for higher standard of education and hostels. Summing up the factors end to end contribute to the escalation of the price rates as well as demand in Pune property. 

Residential Projects in Pune: An Upward Trend

Because Pune is looked upon one of the most developed cities in India, without a doubt, it has become a hub of a variety of industries thus making the city overpopulated bit by bit with the passage of time. Apart from being a hub of Information Technology industry and high standard education center, the city has also become a playground for a host of real estate developers in Pune. 

The nuts and bolts of new residential projects in Pune can be resolved by reading and browsing through the forthcoming and continuing real estate properties. The highlight of these projects in the city is that they are tremendously branched out and sumptuous, which means they will be able to satiate the needs of property seekers without any consideration. Another salient factor about Pune residential projects is that they are available in a range of types to fit the needs, preferences and budget of every property seeker. Pune boasts of a variety of residential townships, which are generally referred to as small cities, whereas, from the perspective of a residential apartment, they city has been constantly in demand of reasonably priced houses with a configuration of 1 bhk or 2 bhk flats.

However, the intent and purport to meet the accommodation needs of evolving customers and residents in the city still go forward. New housing projects in Pune are building up ground-breaking ideas to build reasonable and offer value for money residential projects in Pune. This market in Pune is flourishing strongly with remarkable developments in the residential sector. Some of the popular residential areas for new commercial projects in Pune city include Mundhwa, Magarpatta, Kharadi, Hadapsar, Baner, Koregaon Park, NIBM and Wakad. Based on your preferences and budget, you can choose to buy a real estate property in Pune and ensure good ROI.

New launch projects inPune related to real estate are fast growing vigorously in the city. Apart from the residents of India, NRI's are also very interested in investing their money in such real estate projects. In general, a variety of sumptuous housing options such as bungalows, villas, luxury apartments and deluxe apartments are 

Why investing in Pune Real Estate Projects is a Wise Decision?

Pune being the hub of Information Technology industries, education, manufacturing and automobile industries have been the magnet of people from every walk of life. With supreme back-to-back advancement being made in virtually every domain, Pune is strongly looked upon as one of India's leading IT hubs.

Under the fast growing phase of technology and advancements in wide-ranging sectors has also resulted in giving a remarkable step-up to the real estate projects in Pune.

Today, Pune is clogged for space due to being overpopulated. Wherever you go in the downtown Pune, you can easily witness an inflation in the price rates of real estates. The nearby areas of the city such as Keshav Nagar, Mundhwa, Kharadi, Magarpatta, Koregaon Park, Hadapsar have experienced tremendous growth over the past few years and are in huge demand among the property seekers there. Concerning existing price rates for the real estate properties around the IT park for land is around 1000Rs per sq feet. The price rates have sharply grown since it was only 700Rs, a few months ago. Pune is evolving fast from every direction and is becoming increasingly overpopulated as time passes.

When it comes to the price rates for flat for sales in Pune range, they are maybe not for the faint of the heart. In general, if you are looking to buy a flat in the downtown area or the centre of the city, be prepared to pay heavy price rates for the same. In fact, Price rates have risen to the sky over the last 2 years yet both Pune residential projects as well as commercial properties for sale in Pune are a rage among the property seekers. A major reason to the growing market of real estate in Pune is again because of the continuous advancement in technology and companies which keep to thriving in the city.

Pune ongoing residential projects are the center of attention for a lot of NRIs as well as leading investors of the city today. Also Pune's propinquity to Mumbai also gives expression to the fact that a multitude of wealthy property seekers from Mumbai take special interest in investing the money into real estate properties in Pune. Incidentally, comparatively to too exorbitant price rates of properties in other Indian cities such as Noida and Bangalore, prices in Pune are a bit affordable, with that said it is understandable that the city is just the ticket for investment in real estate.

BUDGET GIVES TAX RELIEF TO FIRST TIME BUYERS OF HOMES COSTING LESS THAN INR 50 LAKHS

In the 2016-17 budget, the government has provided tax relief to first time buyers of economy homes whose total cost is less than INR 50 lakhs and the home loan is less than INR 35 lakhs. This has been done to give a fillip to the real estate industry and reduce the financial burden of the lower and lower middle class who genuinely need to buy a home. The limitation clauses of the provision will prevent the well-off who invest in multiple homes and or big ticket size home to avail this benefit.

Earlier the cap on the tax deductible interest was INR 2 lakhs per annum and it continues to remain the same for home buys beyond the first one and also for homes costing more than INR 50 lakhs.

The budget provision of 2016-17 now allows an additional INR 50.000/- per annum on interests incurred on home loan towards deduction for calculation of taxable income provided the following three conditions are met – 1) the person should be buying a home for the first time; 2) the total cost of the home should not be over INR 50 lakhs and 3) the loan on this purchase must be limited to INR 35 lakhs. Under these conditions a sum of INR 2.5 lakhs per annum of home loan interest becomes eligible for deduction for calculation of taxable income. The incremental benefit can be best understood with an example.

Let us consider a home loan of INR 35 lakhs with tenure of 20 years without any moratorium. Let us assume the interest to be 10 percent, which is the average prevailing rate. The repayment commences immediately with 12 monthly payments every year for a period of 20 years. For this scenario the EMI will be INR 33,775. At the end of 20 years period the total repayment will add up to INR 81 lakhs and the interest component will be INR 46 lakhs. One can use a mortgage calculator to find these.

The mortgage calculator will reveal that the interest component is INR is 3.47 lakhs in the first year and finally reduces to INR 21,126/- in the last year. It may be noted that for the first 10 years the interest amount is more than the INR 2.5 lakhs per annum and from 11 to 13 years it is between INR 2.5 to 2.0 lakhs per annum. Thereafter it reduces and finally becomes INR 21,126/- in the last year. Thus a borrower stands to get incremental tax savings for 13 years due to the new budget provision.

Let us assume the borrower to be in the 30 % income tax bracket. The tax implications then work out to the following. As per the earlier provision of up to 2 lakhs of interest eligibility for deduction, the total tax savings over the period of 20 years was INR 10.21 lakhs. With new provision of 2.5 lakhs of interest deduction, the revised tax savings work out to INR 11.99 lakhs. Thus this budget gives an incremental benefit of INR 1.78 lakhs which is quite a tidy sum.

The calculation is indicative and provides order of magnitude of savings. Interest exemption is permissible only after taking possession of the house. Projects will require some construction time and interest paid during that period can only be availed in 5 equal installments in the next 5 years. Thus it may not be possible to utilize all the interests paid during the construction period for availing tax benefit. Further, if the home loan rate is higher the savings will be greater. Likewise the tax savings will be lower if the interest rate is lower. Hence it is always ideal to go for projects nearing completion to avail maximum tax benefit. Besides, this gives the buyer a chance to see what he is buying. Of course, this will entail bigger and more conceated payment of own margin money.

It is evident that the developers in Pune and the builders around Pune will suitably modify their projects to bring the entire cost within 50 lakhs to take advantage of the new budget provision. Builders in high cost areas of Pune will shift towards compact 2BHK homes, while the low cost areas will continue to feature regular 2BHK projects. Pune will witness a shift from 3BHK to 2BHK homes. Areas in the neighborhood of Pune which are low in cost are able to offer regular 2BHK and 3 BHK houses within 50 lakhs will see a greater spurt in demand.

Rapidly Developing Market of Residential Projects in Pune

Needless to say, Pune real estate projects are increasingly becoming the centerpieces of a host of India-based as well as NRI’s property seekers. After all, Pune is reckoned to be one of the leading metro cities in India where development in virtually every domain is taking place by leaps and bounds. Whichever sector you take in, the level of development is par excellence. Take for example, apart from being an established hub of IT, real estate projects in Pune are increasingly towering. Whether they are commercial shops for sale in Pune, flats for sale in Pune, or new housing projects in Pune, the city has been consistently witnessing a  gigantic surge in the development of real estate market.  With this in mind, it is easy to guess that real estate market in Pune will continue to step up increasingly as time passes.

Residential Projects in Pune:

According to a reliable report, more than a thousand new launch residential projects in Pune are turning up. The nuts and bolts of these new launch projects in Pune can be had by researching online on some reputable websites. The highlight of the underway Pune residential projects is that they are all the way through sumptuous and are designed according to up-to-the-minute trends. That means, your satisfaction on buying a real estate property in Pune is going to be fulfilled at every cost. The residential projects in Pune are of wide range of types. Pune boasts of prodigious residential townships typically termed as small cities, albeit with the perspective of a residential apartment, Pune has been consistently in demand for low-cost houses with a configuration of 1 bhk or 2 bhk flats.

As Pune continues to be populated with more and more new residents, the accommodation needs of new and evolving customers in the city are being fulfilled in that accordance. Pune new real estate projects are although a bit costly yet are worthy of investment because of the hopeful lineaments the city boasts of.

Wherever you place your view on in Pune, you will find that gigantic development in the residential sector is taking place at a terrific rate. A few hottest destinations in the Pune city where the real estate property is at the helm of popularity and demand include Magarpatta,  Mundhwa, Hadapsar, Kharadi, Baner, Koregaon Park, So, if you plan to purchase residential projects in Pune sooner or later, the aforesaid localities will turn out well in giving you best Returns Over Investment (or ROI).

Rapidly Developing Market of Residential Projects 

The Fast Growing new Real Estate Projects in Pune

 Pune, being one of the most popular metropolitan cities of India, has been the dream destination of a host of native real estate investors from several parts of India as well as the NRIs for a long time. As a matter of fact, real estates builders Pune encourages the investors to invest in the real estate properties as a result of a wide range of exceptional features the city has to offer. These include constant Return on Investment over the past and next few years, enhanced job opportunities, revised physical and social framework, low-priced residential living accommodations, ultimate knowledge hub etc. With that being said, it is a bitter fact that the city center is now out and out clogged for space. That is why all upcoming residential projects in Pune have started to take place on the outskirts of the city. A multitude of construction projects is fast taking place in the suburban areas of the city to suffice the needs of the upmarket consumers.

 Practically because of having no additional space available in the downtown Pune, all new upscale potential homeowners are fast tending to settle down in Pune's suburbs to enjoy a serene lifestyle. Although Kharadi, Koregaon Park, Magarpatta, Keshav Nagar etc. are deemed the principal sites in the downtown Pune for real estate investment but due to the lack of space and exorbitant price rates, suburban sites such as Kothrud, Aundh, Baner, Kondhwa and Viman Nagar have become  a rage for real estate development company in pune as well as investors.

The highlight of these new residentialareas in Pune is that potential real estate owners not only get sumptuous apartments at lower costs but they are also a bit far from the hue and cry of the downtown city. Certain new property projects in Pune are targeted at the investors instead of the purchasers. In particular, the new launching projects rapidly turning up on the outskirts of the city are considered as a down-to-earth investment option for Non-Resident Indians (NRIs), upscale buyers and local investors.

 Pune's residential projects are believed to offer attractive Return on Investment (RoI). Moreover, real estate price rates on the fringes of the city are relatively more affordable than the suburban rentals in other leading Indian metro cities such as Mumbai, Chennai, Calcutta, Delhi and Bangalore. However, the high spot about Pune apartments is that they typically have very high rental rates, which is a boon for the investors. Whatever it is, Pune is increasingly becoming a prime preference for the most number of interested home-seekers, real estate investors and dealers.

A VALUE FOR MONEY LOCATION FOR BUYING A HOME OR COMMERCIAL PROPERTY IN PUNE

Pune, the erstwhile “Pensioners Paradise” has now become the hottest destination for the young, educated and aspiring professionals. Demand for commercials also multiply as more people opt for Pune as their city for professional growth and permanent residence.

Pune boasts of a good climate. Being in close proximity to Mumbai (just three hours drive), it is naturally the first destination to develop as its satellite. Consequently the government has developed it as an industrial and economic hub. MIDC has developed industrial hubs on either side of the city – Pimpri, Bhosari, Chakan and Talegaon in the western side and Ranjangaon in the eastern side. Likewise, IT hubs have been developed at Hinjawadi in the eastern flank and Magarpatta and Kharadi in the eastern flank. Thus Pune is fast emerging as one of the leading Metros in India for high quality professional opportunities. It is attracting young professional in droves. To cater to their needs the social infrastructure like good quality roads, schools, colleges, hospitals, clubs, malls and entertainment destinations have also grown in leaps and bounds. As Pune lie in the Western Ghats, there a lot of weekend holiday destinations in and around it offering opportunities to rejuvenate after a week of work. In monsoons, Pune and its vicinity is nothing but an undulating green carpet. Pune’s attractiveness has also gone up by several notches as it has been selected to be developed as a smart city. Thus Pune is a great city where one can pursue a challenging career and at the same time enjoy a leisurely lifestyle during non-working hours and weekends. In fact young people are opting for Pune as the city of career destination.

In recent times, many suburbs in Pune have become favored residential destinations. One of them is Keshav Nagar in the eastern flank of the city. It is just half a kilometer away from the Magarpatta IT SEZ and a couple of kilometers away from the EON IT SEZ at Kharadi. Keshav Nagar is already connected to Magarpatta and EON, but is now getting connected to EON and Pune Ahmednagar highway by a network of new broad roads bypassing the present roads. Besides, Keshav Nagar is very close to the city centers like Koregaon Park, MG Road, railway station, airport, malls, hospitals and schools. Within two years Keshav Nagar and Kharadi will seamlessly become one.

Keshav Nagar being the first cousin of Kharadi is missing all the attention which goes to Kharadi. As a result, while the prices in Kharadi are hovering between INR 5500 – 6500 per square feet, in Keshav Nagar it is between INR 5000 – 5500. A wise person who wishes to enjoy all the location advantage of Kharadi and save nearly 20 % in investment should look at residential projects in Keshav Nagar. There is no difference in the quality of homes in offer at both the locations. Why pay more just to be a kilometer closer to EON? Mind you Keshav Nagar is much closer to residential projects near Magarpatta City than Kharadi.      

Thus Keshav Nagar will give you an opportunity to own a quality residential property in Pune a cosmopolitan neighborhood and in close proximity to Pune’s two IT Hubs at a price 20 % lower than its immediate celebrated neighborhood. “Valora” is one of the good projects in this area offering both 2 and 3 BHK Residential property in Pune options.

Move early to cash on the price differentials. Why pay more when less is available?