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Aashna Gill
posted on 12 MayPune first-time buyers: What did you wish you knew?
Since last Diwali, I've been seriously looking for a flat in Pune, and honestly, bahut confusion hai. Initially, I was only looking at new launches, like some Ram India Group projects near Wakadkar Wasti. But ab resale options bhi dekh raha hoon. Builders don't really talk about the extra costs beyond the flat price, na? Like stamp duty, registration, interiors, wiring... kitna extra pakad ke chalna chahiye for a 2BHK around ₹75-80L? Is resale safer for a first-timer or new launch with potential delays? Any advice on budgeting for these hidden costs?
#first-time-buyer#hidden-costs#pune-real-estate#resale-vs-new-launch#budgeting
Comments
I was told by a broker that some projects in Amanora Park Town have very high maintenance charges. Does that apply to all new townships? Aur kya koi builder EMI options bhi deta hai for these extra costs beyond the flat price?
My two cents: don't rush. I almost bought a flat near Sinhagad Road purely based on builder promises. Luckily, a friend who's a lawyer advised me to check all documents thoroughly, especially the occupancy certificate and completion certificate for resale, or commencement certificate and RERA status for new. Saved me a lot of potential headaches. What happened with your Wakadkar Wasti search, OP? Any good finds there?
Exactly. Builders sometimes offer subvention schemes or payment plans, but that's for the property cost, not the 'hidden' ones. Those 10-15% extra are out-of-pocket, which is why budget planning is SO critical. Don't stretch your loan limit to the max, keep a buffer of at least 15-20% of the flat price. This market is tricky, especially with interest rates fluctuating and construction costs rising.
Amanora does have higher maintenance due to the premium amenities and integrated township concept. It's common for such large projects. For EMI on extra costs, usually no, banks only finance the property value. You have to arrange for stamp duty, registration, and interiors yourself, often from your own savings.
What about the quality difference between new vs. resale? And is it true that builders quote a much lower carpet area than what's advertised for new projects? Like, if I'm looking for a 2BHK in Ambegaon, what should be a realistic carpet area for 75-80L?
Exactly! Super built-up is a scam for first-timers. It's so misleading.
Yes, carpet area is a big one! Always ask for the RERA carpet area. Builders often market 'super built-up' which includes common spaces like lobbies and stairs. For 75-80L in Ambegaon, a decent 2BHK should give you at least 650-700 sq ft RERA carpet area. Below that, bargain hard or look elsewhere. Resale often gives better carpet area for the price, but you need to factor in potential repair costs.
Meri personal experience mein, resale is generally safer for first-timers, especially if you're budget-conscious. New launches ke delays ka koi bharosa nahi hota. My friend booked in a project near Akurdi, promised possession in 2022, abhi tak sirf structure khada hai. RERA complaint file karni padi. At least resale mein you know what you're getting, though older properties might need some renovation which also costs.
Sahi kaha, bhai. For a 75-80L flat, you can easily add another 10-12% for stamp duty, registration, and basic interiors. Plus, don't forget the GST on amenities if it's a new launch. That extra amount can easily cross 8-10 lakhs.
Haan, itna toh pakad ke chalo. People often forget about property tax for the first year, maintenance deposit (usually 1-2 years advance), society charges, legal fees for loan processing... the list just goes on and on. Always keep a buffer.
10-12%? That's huge! My budget will go haywire then. I thought 5-7% max, this is so disheartening.
Totally relate yaar! I'm also looking for a flat in Pune, and the hidden costs are a nightmare. Builders only show the base price and then poof! So many extra charges. It's like a trap for first-timers.