real-estate-investment

Top areas to invest in property- Pune

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When you think about investing in property the first thing that comes to your mind is “Location”. Why is Pune the preffered location according to us? The city is the most prefferd investment destination according to the Pune real estate market as there was a “seven percent” growth observed in the last quater of 2014.

Buying a house whether for living or for investment, will be one of your biggest purchases of your life so every step should be taken with extreme precision. According to the survey conducted and due to several big development projects like metro rail project and proposed international airport plan on the run, Pune in the coming years will see a tremendous boost in the real estate market.

If someone is searching for a property to live, the main city areas are completely saturated. It is extremely difficult to purchase a flat in areas like Swargate or Deccan, while finding one that fits your choice and budget is more likely in areas like Koregaon Park and Model Colony. However, if buying property is as an investment, we would always advise them to do so in the suburbs, where there are higher chances of property rate appreciation within the next two or three years.The information technology sector has proved to have a very high influence on the real estate market in India’s cities.

In Pune, there are nine such localities which are the rulers of limelight of the market in this phase. One of the top localities is Kalyani Nagar. It is the most prominent and well established localities on the Eastern Corridor of Pune. It’s basically the center to most of the prominent localities like Koregaon Park, Viman Nagar, Kharadi, Hadapsar and also it lies in the close proximity to railway station and the airport.

The next most desirable location in Pune is Aundh. Aundh has maintained it’s position in both the residential and commercial markets for quite a long time now. After the start of Hinjewadi IT park Aundh was the first to get benefited from it. Aundh enjoys a location which has demand from central Pune as well as localities near Hinjewadi.

After a while when the requirement in Aundh grew so high that its development potential diminished rapidly under the onslaught of a relentless spate of projects. With reduced development, price appreciation also reached a certain level of stagnation in this market. Soon, the limelight shifted and Wakad became the next investment junction for low income housing on the city’s Western Corridor.

The next in line is Baner. It emerged as the prices in Central Pune were on a new high. This is when Baner provided investors an affordable option without compromising on the overall connectivity. Baner due to its location is closely located to Pune-Mumbai Expressway and IT hub at Hinjewadi and also Central Pune.

Wagholi is also not much trailing in the race. Located in the Eastern periphery of the city, it has evolved into one of the city’s most important suburbs. According to its location, it provides a good access to existing and upcoming establishments in Kharadi, Hadapsar and Bund Garden. Its proximity to Pune Airport and Eastern IT hubs of Magarpatta and Kharadi and also to Shikrapur-Chakan industrial belt increases it’s demand.

Charholi is another emerging location which is present in the northern part of Pune. With the increase in demand for mid-income housing in the city, developers are exploring new regions to cater to the demand of affordable, yet stratergically located homes in Northern region of Pune.Charoli is attractively placed to catch the overabundance demand emerging from Vishrantwadi as well as the mid-budget homes close to Yerwada, Viman Nagar and Kalyani Nagar.

Pimple Nilakh, situated in the western part of Pune, is a suburb of the Pimpri Chinchwad Municipal Corporation and is basically a growing residential hub. It has marked it’s position among the fastest-growing areas neighbouring the Hinjewadi IT hub. Pimple Nilakh has witnessed a lofty increase in property rates on account of the dominant IT culture. It is witnessing vey high demand from investors. It also recieves deluge demand from Aundh, Baner, Pimpri-Chinchwad and also some Industry-Driven Demand flowing from Talegaon.

Pimple Saudagar, located in Western Periphery of Pune, it enjoys all market drivers that lend buoyancy to entire western region of Pune. It is currently indulged mainly by end users and is beginning to draw grave attention from investors. This region presents good opportunity for home buyers who are also centered on healthy investment growth.

TDS_real_estate

TDS Deduction on Investment in Property

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TDS stands for Tax Deducted at Source, as the term implies it aims at collection of revenue at the very source of income. The Central Board of Direct Taxes(CBDT) and a part of Indian Revenue Services(IRS) is responsible for collecting Tax which is charged on the buyer of an immovable property, valuing Rs. 50 Lakh or more. Any kind of payment covered under these provisions shall be paid after deducting some prescribed percentage. The main objective is track the unregistered high value real estate transactions. Earlier, there was no such deduction in case of immovable properties as it is in the case of rent, interest, salary etc.

Rate of Tax Deduction-

The rate of Tax Deduction depends on the seller. If he Provides a valid PAN the rate is 1% and if a valid PAN is not provided it may go as high as 20%.

Obtaining TAN and total Tax Calculation-

For the purchaser or the buyer there is no such need of procuring a TAN, whereas in every other case wherever a person deducts tax, TAN generation is mandatory. The calculation of Tax is done on an amount of 50 Lakh or more. Consider our Amount as 80 Lakh so the tax being calculated will not be on 30 Lakh but it will be calculated on the total 80 Lakh.

Payments of TDS-

The tax shall be deducted at the time of payment or at the time of giving advance to the seller. It should also be deducted during making payment of installments. The tax being deducted is to be paid to the credit of Central Government within a tenure of seven days from the end of month of deductions.

When property is shared between partners(Buyers/Sellers)-

As we know the threshold limit is 50Lakh, the number of buyers or sellers does not matter in this case. Consider there are 3 buyers X, Y and Z. X paid an amount of 25 Lakh, Y paid an amount of 35 Lakh and Z paid an amount of 40 Lakh. As we can see that all the three buyers are below our threshold limit, but we see that the sum of these three buyers is above our limit so they would be entitled for Tax Payment to the Central Government. If the transfer of property being done is without any payment or it’s a gift, then this section will not apply.

Payment made to Non Resident Indian(NRI)-

in this case TDS deduction procedure is different as our limit of 50 Lakh is not valid and also percentage deduction of tax is 20% + EC & SHEC on sale consideration. Also surcharge of 10% will be applicable for amount paid above 1 Crore.

Non Compliance-

In case of failure to consent with the provisions, penalties in the form of interests will be imposed on the buyer. Interest as penalty will be charged @ 1% per month or part of the month for failing to deduct tax or short deduction of tax from the date the tax was deductible till the date the tax is deducted. Interest as penalty will be charged @ 1.5% per month or part of the month for tax deducted but not paid to the government from the date of deduction till the date of actual payment.

Property Prices

Average Residential Apartment Prices – Pune

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Prices and Rates of Flats and Apartments in Pune & PCMC

Pune Property Prices

 

Disclaimer : Pune Properties cannot be held responsible for the accuracy of data displayed on the site. The information has been compiled from the asking price of the database of properties listed on the site for the period. Pune Properties is a medium to refine the data and take it to the customers but its not the actual transaction and it should be verified independently.

buy-apartment

“Buying a new flat or apartment” Be Alert

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Recently the PCMC decided to raze down illegal constructions and buildings which cannot be regularized.

As an home buyer, you have to show extreme caution when you are buying a new apartment or flat.

Here are few important points you should take care of when buying a new property in Pune/PCMC :

  • Ask the developers about clearances. Only invest or buy a property which has all approvals in place.
  • Large projects of more than 2Lacs+ sqft mandatory need environment clearances. If it is not there just move out of such projects.
  • Ask for bank loans and which banks have approved the said project. Generally if a project is approved by SBI for home loan it does mean that it has obtained all the approvals.
  • Unauthorized constructions carry a risk of demolish, the municipal corporations may even ask for higher amount of property taxes.
  • Outskirt areas of Pune and PCMC have seen great influx of illegal properties especially Narhe,ambegaon,Dighi,Moshi etc. Do not go for projects which are not approved by relevant authorities beyond municipal corporation limits.
  • Do not invest in prelaunches. Most of the prelaunches deceive you as the timelines are just never defined. In fact in lot of cases the developers have even increased the prices on launching the projects thereby giving strains to property buyers.
  • Ask for proper receipts,allotment letters and insist on entering into the agreement for sale as soon as possible once you buy a property and make down payments.
  • Read agreement before finalizing. Insist for penalty clauses in case of delays in handover of possession of flats and apartments.

grexit-would-not-be-such-a-catastrophe-some-believe

Will the Greece crisis hit Indian Property Market ?

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As you are all aware Greece voted on the bailout referendum on Sunday,5th July 2015 and the bailout conditions were loudly rejected by 61% voters.

How will this impact India and especial Pune Property and Real Estate Markets as most of our readers are based in Pune (www.puneproperties.com has highest number of visitors who are interested to buy Flats and apartments in Pune)

To analyse the impact of this on India/ Pune property markets, let us first study following possiblities :

  • Greece exits the Eurozone completely.
  • Greece defaults on the payments but still decided to continue with Eurozone as a result of direct recapitalisation of Greek Banks by the Eurozone Coalition partners.
  • Creditors reconsider offering softer bailout conditions to Greece which probably may be acceptable to Leaders of Greece.

Now whatever happens of above, the impact of this shakeout on Indian economy is expected to be almost nothing which is in turn also implies that property markets in Pune/India may not be affected. There may be some marginal impact on Indian Rupee but which may hardly affect. RBI Governer has already ruled out any impact because of solid foreign exchange reserves that we have.

Equity markets may be volatile in short term but that would hardly have any kind of impact on Indian Real Estate Market. Flats and apartments buyer in Pune need not to worry as any which ways the Real estate sector funding is hardly dependant on foreign funding etc.

 

Flats in Moshi - Great Location Advantage.

Is Moshi in PCMC a smart location to buy 1 or 2BHK Flats ?

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Recently, we have all heard a lot about Moshi in PCMC especially when it comes to new property or residential project launches. Moshi has indeed now seen a great amount of supply of 1 or 2BHK Flats and apartments especially catering to mid-budget segment. To find properties,flats and apartments in Moshi PCMC visit at http://www.puneproperties.com/pcmc-real-estate/flats-apartments-moshi.html

IS MOSHI REALLY A SMART LOCATION TO BUY PROPERTY IN PUNE,PCMC ?

Key points highlight Advantage Moshi as a property location or place to stay.

  • Moshi is just very close to Nashik road/Highway. Thus all the properties in Moshi have easy connectivity and access to the main road which is very well done up.
  • Nashik Phata is just 18-20 minutes of drive wherein you connect to Hinjewadi,Aundh,Baner etc using the flyover or Shivajinagar and Pimpri is easily accessible.
  • Talawade IT Park is just 10 minutes drive from Moshi, thus making it very convenient place to own a home especially for people who work in companies like Cap Gemini, Syntel and other IT Companies based in Talawade IT Park.
  • Chakan is hardly 20 minutes drive. Chakan is one of the larget industrial hub and has a huge employment opportunities with top MNC’s having there production facilities.
  • Marriot Courtyard at Chakan is a easy drive and so are other locations of fun,leisure and sports activity.
  • Bhosari industrial area which has companies like TATA Motors,Bajaj etc are all within 10-20 minutes of drive.
  • Alandi and DY Patil college is hardly 5-10 minutes drive.
  • Price advantage as compared to other micro markets of similar sizes.

Some of the prominet property projects in MOSHI PCMC are :

  • Saheel Fortune Park by Kohinoor Group – 1 & 2 BHK Flats in Moshi. Visit website
  • Mantra Moments – 1,2 & 3 BHK Flats and Apartments in Moshi PCMC Pune.
  • Ela – 1BHK Flats and property in Moshi by Anshul Group.
  • River Residency – 1,2 & 3BHK Flats and Apartments in Moshi PCMC.
lalani-builders-kohinoor-grandeur-elevation-655221

Is PCMC a better property destination than Pune?

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Buying or Investing in a flat or apartment in Pune/PCMC.

Confused on destination ?

Most of the property buyers have this confusion. Pune or PCMC? While buying your dream home is a very very emotional and stress making decision, one has to ensure what is really the destination of your lifetime stay.

Infrastructure :

PCMC is better connected on Road and Rail network as compared to Pune.  The municipal corporation of PCMC has undisputedly taken great efforts to give its citizens congestion free roads and therefore score one point above Pune City’s infrastructure which is most of the times overload. PCMC also has a good local train network as compared to Pune which stands a good advantage.

Property Prices in PCMC v/s Pune :

Prices of flats and apartments in PCMC are reasonably lesser as compared to Pune. When you compare these prices to infra available v/s property offered, one would always feel that PCMC is reasonable.

For e.g. 2 or 3BHK Flats or apartments in Ravet at Kohinoor Grandeur which is an entry point from Mumbai, would come in a bracket of INR 55 Lacs to 1 Crore depending upon type of apartment but similarly property in Hadapsar which is an entry point from Solapur is 50% more expensive than Ravet.

Alternately, 2BHK Flats or apartments in Pimpri Central at Mahindra Antheia (a very prime location) will come in a price bracket of 70 Lacs plus taxes but similarly Prime Central location of Pune like Shivajinagar will cost you nothing less than 1.50 Crores.

Work and Industries :

PCMC is one of Asia’s largest Industrial and automobile hub. Pune is a mix of everything but most of the IT companies form base in Pune.

 

Fun and Leisure :

Pune has better leisure and fun destinations as compared to PCMC. For ones who love night life, PCMC does not have much to offer. For the ones who party not so regular travel to hotspot destinations is easier from PCMC than from far off areas of Pune. PCMC has some very great parks maintained extremely good.

Educational Facilities :

Both PCMC and Pune have ample of schools, colleges, private coaching etc although Pune may have an edge over it.

Finally when it is really the time to decide between PCMC or Pune, it also matters to consider the distance from work to your home. If it falls well within 8-12 kms range, PCMC will always be a better choice.

Find your dream home or property in PCMC at http://www.puneproperties.com/pcmc-real-estate.html

Property buying is once in a lifetime decision so go smart and steady.

 

 

 

 

falcon

KOHINOOR FALCON 2 BHK And 3 BHK FLATS IN SUS ROAD, PUNE BY KOHINOOR GROUP

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Kohinoor Group is one of the topmost real estate property builders. In the last 3 decades, they have developed and promoted more than 4 million square feet projects in the residential and commercial divisions across vital locations especially in the PCMC area in Maharashtra. The well known builders are constructing a new marvel of nature named as “KOHINOOR FALCON”, 2 and 3BHK flats and apartments at Sus Road, Pune.

If we go for the location of the Kohinoor Falcon, Sus Road is a newly and highly develop location in Pune. Real estate market in this area has increased decagonal in the past few years in respect of meeting the growing demands of residents. Sus Road contributes the climate of Pune city, with mild summers, pleasant rainfall and balanced winters. Due to growth in Population many good schools and colleges has been established in Sus Road.

In Sus Road, Falcon is the tallest apartments with 20 floors. It is an instant constructive contentment. The main amenities of Kohinoor Falcon are:-

  • Open Space with designer theme landscape
  • Fully-functional Mini-Gym and Indoor Games
  • Multi-purpose Play Court
  • Landscaped Gardens
  • Nature Walk / Jogging Track
  • Party Lawn
  • Designed Entry Lobby with Waiting lounge
  • Well-Distributed Seating for Elderly
  • Children’s play area
  • Sky Lounge (Party Area) on 20th floor
  • Multi-Purpose Community Hall – Club House

The exciting view of hills from your window will make your frame of mind exalted and fresh. You could enjoy the morning walk on the nature trail here. The facility of 24*7 CCTV surveillance is an additional advantage for your security point of view.

For further details and booking information visit at :

http://www.puneproperties.com/kohinoor-falcon-flats-apartments-pashan-sus.html

Pune Properties

REAL ESTATE MARKET – PUNE

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If you are looking for a hint that the power performance of the real estate market of the city, look for consistency. View market data for the past few months and see if it is shifted to a consistent rate. Above all, the market is the flexibility. When the economic climate has not been favourable, is not strong enough to collapse. When you consider such factors carefully, you’ll find that the real-estate market has shown signs of topping Pune.

Pune has therefore gathered a reputation as India real estate market. In Pune large number of Real estate developers and end users to invest in this trend is a very popular way among. Although central Pune are saturated because of the chaos that comes with all the benefits of the city when empty, the periphery of Pune offers excellent living options. For this reason Talegaon, Wagholi, Urulikanchan demand for residential and commercial project and is also more growth. The new government’s agenda is also likely to improve the housing real estate market is positive. Mostly affordable apartment in Pune are driven his value proposition or are likely to get a boost.

There are many reasons why Pune is a promising real-estate market. Because the steady growth of the Information Technology sector has created a lot of jobs, making it a shelter for young professionals. Then organised retail sector has also grown tremendously especially in Hadapsar area like Amanora mall. Then the demographics of the city have changed extraordinary. Today, Builders have to keep a very different set of demographics in mind. Pune is home to a large population of young professionals and students.

All these elements come together Pune real estate market has given its flexibility and strength. Top Builders, Developers and Promoters in Pune, the situation in the next few years and have found favourable planned luxury projects, Row houses and affordable homes segments. One thing is for sure will continue the success of Pune real estate market for years to come.