H
Harleen Kaur
posted on 9 MayHow to even start shortlisting a first home in Pune?
How do you even start shortlisting properties in Pune when everything feels so overwhelming? I'm a first-time buyer, looking at areas like Shankar Kalat Nagar. Shree Krishna Associates has a project there, but it's under construction. My parents keep saying new projects have too many hidden costs beyond the base price – stamp duty, registration, interiors, GST. Honestly, I had no idea it adds up so much. Is it worth the risk with under-construction for the potential appreciation, or should I stick to ready ones? What extra budget should I plan for all these hidden charges?
#first-time-buyer#pune#shankar-kalat-nagar#under-construction#hidden-costs
Comments
The Pune real estate market is definitely seeing some movement, especially in areas with good connectivity and infrastructure development, like the ones near Hinjewadi or the new ring road projects. Shankar Kalat Nagar fits that bill. While under-construction offers potential gains, the current market also has some good ready-to-move options where you can negotiate better and avoid the uncertainty. Always cross-check the builder's RERA compliance and project history online. Many builders have pending cases or delayed projects that are publicly visible.
My advice, as someone who went through this in Anand Nagar, is to always factor in at least 15-20% over the base price for all the additional charges – stamp duty, registration, GST, legal fees, society charges, and a small buffer for unexpected things. For interiors, keep a separate budget based on your preferences; it can range from 5-15 lakhs for a 2BHK. Also, ask for a detailed cost sheet upfront, including all possible charges, and get it in writing. Don't rely on verbal assurances. It's your hard-earned money, be thorough!
That 15-20% is typically on the base price for the statutory and builder-specific charges, U10. Interiors are extra. So, if your base price is 60 Lakhs, expect to shell out another 9-12 Lakhs minimum for these. Then add interiors on top. It's a significant amount, so proper planning is crucial.
15-20% seems like a good ballpark. Is that for base price or total cost?
Dekho, hidden costs toh har jagah hain, ready-to-move mein bhi brokerage aur transfer charges lagte hain. But under-construction mein appreciation ka potential bahut high hota hai. Specially in an upcoming area like Shankar Kalat Nagar, by the time it's ready, prices would have definitely gone up. Just make sure the builder is reputed and RERA registered. Long-term investment ke liye, under-construction is better.
Agreed, quality can be an issue. But what's the current per sqft rate in Shankar Kalat Nagar for under-construction vs ready-to-move? That comparison might help decide if the premium for ready-to-move is too high.
True that! Builder ne phir se date extend kar diya lol. My current project in Akurdi is 6 months behind schedule.
While appreciation is a factor, the mental peace of a ready-to-move property is priceless. I booked a flat in Sinhagad Road, under-construction, and the quality of construction was compromised due to cost-cutting. Plus, the amenities promised were either scaled down or never delivered. So, the 'potential appreciation' might not always offset the headaches and compromises. Always inspect thoroughly before finalising anything, even if it's under construction.
Totally relate yaar! Shankar Kalat Nagar is good, but under-construction projects always give me jitters. My uncle booked a flat in Amanora Park Town a few years back, under construction, and the possession got delayed by almost 2 years! Plus, the final cost was easily 15-20% higher than what was initially quoted due to various 'development charges' and GST changes. So, your parents are not wrong at all. Be very careful with the fine print.
That's a huge jump! For Shree Krishna Associates, have you checked their RERA status and previous project delivery timelines? Sometimes, a builder's track record speaks volumes. Is this their first project in Shankar Kalat Nagar?
Exactly! My friend bought a 2BHK in Ambegaon, under construction. The base price was 50 Lakhs, but by the time he got possession, stamp duty (7%), registration (1%), GST (5%), society formation charges, electrical meter, water connection, and then interiors (another 8-10 Lakhs) made it cross 65 Lakhs easily. So yeah, 25-30% extra is a safe buffer to keep for all these. Don't forget bank processing fees too!
Haan bhai, same experience. Builders ka toh alag hi math hai. Hidden costs toh pakka hote hain.