Following are the documents required to buy a property in residential projects in Pune:
Note- This is a general list of documents required, which may differ from one buyer to another. It is best to consult the real estate developer you are buying with for the exact list.
Here’s what you should do:
To ensure a hassle-free buying experience, you must get complete clarity about:
Note- If you are looking for residential projects in Pune or luxury villas for sale in Pune, you can directly get in touch with the sales executives of Vaarivana, a project by Pharande Spaces. Rest assured, we will offer complete support at each step.
Vaarivana is where you will find a villa for sale in Pune, and probably one of the best in the city. Here are some highlights of the project-
You can the other wonderful offerings of the project on our website- http://vaarivana.com/
If you need assistance for investing in plots, we at Vaarivana would be glad to help you. Just to give you an idea, Vaarivana is a 247-acre beautiful gated community offering 3 & 4 BHK villa plots. You can take a look at the project and get in touch with us.
For your general understanding, here are some things to look for before investing in a land:
If you’re investing in land, here are the points to keep in mind:
If you’re considering investing in land plots, Vaarivana by Pharande Spaces is the ideal choice for you. Located just 30 minutes from Baner and 20 minutes from Lonavala, the integrated self-sustained township is surrounded by abundant nature and is Pune’s largest golf villa community.
Closing costs are the fees paid while closing any real estate transaction, and are incurred either by the buyer or the seller. If you’re buying a residential property in Pune, here’s a list of typical closing costs that may have to be cleared once the title of the property is transferred to you by the seller.
Buying and owning real estate is one of the best investments you can make as it is an imperishable asset with high financial returns, ever-appreciating value and solid security. Here are 5 ways you can earn lucrative profits from investing in real estate:
If you’re looking to invest in residential property, you can check out Vaarivana, a golf villa community offering luxury villas near Mumbai.
Property tax is levied on all owned real estate. The rate of property tax is based on the property value which is determined by the local municipal authorities. Paying property tax is compulsory and enforceable by law as the revenue generated is used to maintain and provide civic amenities such as road repairs, sewer system, lighting, maintenance of common civic areas and more. If you’re looking to purchase property, you can check out Vaarivana by Pharande Spaces.
The real estate market in Pune is quite saturated and prices are sky-rocketing. Residential projects in Pune closer to the outskirts are more affordable and hold a scope for future price appreciation with development. If you’re looking to buy a bungalow or villa in Pune, you can take a look at Vaarivana. It’s a residential community of golf villas and it’s located at Urse Central, near the Pune-Mumbai Expressway. It’s been developed by Pharande Spaces. The villa community is 30 minutes from prime areas in Pune, namely Baner, Hinjawadi & Wakad. It’s also 20 minutes away from Lonavala and around the same altitude, with amazing weather and stunning hill-views year-round. The development is spread across 247 acres and features a 6-hole private golf course, nature trails, butterfly parks and beautiful landscapes. The locality promises great investment potential.
Only Indian citizens can buy or invest in properties in India. If you are on a visa in India, it is not legal to buy property. It is also not possible for an Indian resident to jointly purchase with someone who is a non-resident. A foreign national complete a 183-day residency within a financial year to be able to purchase and own property in India. Once you become a resident in India, you have the same rights as someone who has been born and raised in India. However, this citizenship is restricted for citizens of Pakistan, Sri Lanka, Bangladesh, Afghanistan, Iran, China, Bhutan, and Nepal. If you’re a resident Indian and are looking to invest in residential property, you can check out Vaarivana by Pharande Spaces, offering some of the best villas near Mumbai.
Stamp duty is collected on the basis of property value at the time of registration. Stamp duty’s amount varies from state to state and also property type—old or new. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state to state. It is usually paid by the buyer with regardless to agreement and in case of property exchange, both seller and the buyer has to share the stamp duty equally.
The final process of buying of a new home is to document and register it in the name of the buyer. The registration of a property is done in a sub-registrar's office along with the payment of stamp duty and registration charges. It authorizes the legal transfer of ownership.
|Stamp duty and registration charges in Pune|
|Gender||Stamp Duty rates from April 1, 2020||Registration Charges|
|Male, Female or Joint||6% (Stamp duty 4% + Local Body Tax (LBT) 1% + Transport Surcharge 1%)||For properties above Rs 30 lakh - Rs 30,000.
For properties below Rs 30 lakh - 1% of the property value.
Here is a list of crucial documents that must be verified while purchasing a ready-to-move property:
The property tax is a percentage of the actual value of the property which is based on the ready reckoner that is used to calculate stamp duty by the revenue department.
Property tax = Tax rate * Capital Value
Capital Value = Base value * built up area * usage * building type * age factor * floor factor
PMC allows its users to calculate property tax online by entering locality, area, usage, type, total plinth area and age of the property.
The basic procedure to sell a property legally in India are as follows:
NRIs or Person of Indian Origin (PIO) resident outside India are allowed to contribute to the capital of a partnership firm or sole proprietary concern without prior approval, provided:
In the following cases, investors may apply for prior permission of RBI and Government of India, provided the last two conditions mentioned above are adhered to:
The decision for the same will be taken by RBI and Government of India on case-by-case basis.
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