WHAT'S
ON YOUR MIND?

Here's what you should do:

1. Check if the location, amenities and other offerings of the project meet your expectations.
2. Hire a lawyer to verify all the documents of the property you wish to buy.
3. Get a clear idea of the total cost of ownership, including parking charges, stamp duty and registration fees among others, as they contribute to at least 5% of the base cost of the property.
4. In case you are buying an under-construction property, get a clear idea of the final usable area, or carpet area.
5. Get an idea of the overheads you will have to pay like taxes and maintenance charges.
6. If you are going to live in the home, see what kind of people have already bought a home there, which would give you an idea of the community. It is advisable to live in a like-minded community
7. If you are buying for investment, see if the project has potential for returns. For example, Vaarivana is one of the promising residential projects in Pune, which offers premium properties in a 247-acre gated community that will have a golf-course, 70% open green spaces, nature parks and play parks. It will also offer connectivity to prime places like the Hinjewadi IT Park. Owing to these factors, the project has good prospects for returns.

To ensure a hassle-free buying experience, you must get complete clarity about:

1. All property related documents
2. Date of completion of the project
3. Facilities/amenities/specifications of the project
4. Mode of payment and how will you pay (for the project as well as commission)
5. Registration of the agent with competent authorities
6. Registration of the project with competent authorities and sale license of the developer

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-

1. 3 & 4 BHK villas in a 247-acre gated community
2. Grand welcome zone of around 78,000 sq. ft.
3. 80,000 sq. ft. clubhouse with a 6-hole golf course
4. Pocket gardens across 80,000 sq. ft.
5. Nature parks with native woodlands, nature trail, pond and more
6. Multiple play parks covering around 1,10,000 sq. ft.

You can the other wonderful offerings of the project on our website- https://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:

1. Property zone
2. Demand for the property
3. Current value or potential future value of the property
4. Property taxes
5. Amenities and facilities provided, if any
 

If you’re investing in land, here are the points to keep in mind:

1. Ensure all legal approvals and licenses are in place
2. Focus on a location with growth potential
3. Assess the connectivity and basic infrastructure
4. Survey the land, climate and soil conditions properly
5. Inspect all provisions for drainage, water and electricity

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.

1. Attorney Fees
2. Title Service Costs
3. Document or Transaction Stamps or Taxes
4. Survey Fee
5. Brokerage Commission
6. Appraisal Fees
7. Inspection Fees
8. Pro-rata Property Taxes
9. Pro-rata Inter

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:

1. Own a residential or commercial property
2. Become a landlord by investing in a rental property
3. Buy undervalued real estate, fix it up, and resell for a profit
4. Use an online real estate investing platform
5. Earn high dividends from buying real estate investment funds

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.

Here is a list of crucial documents that must be verified while purchasing a ready-to-move property:

1. Sale deed: It is the core legal registered document, which acts as a proof of sale and transfer of the property.
2. Completion/Occupancy Certificate: A Completion Certificate (CC) is issued by the municipal authorities on the completion of the project.
3. Building plan: Building plan will contain a blueprint of the project, equipment layout, and utilities.
4. Encumbrance certificate: An encumbrance certificate provides evidence that your property has no monetary and legal liabilities.
5. Mutation certificate: This document identifies the owner of the property in government records and establishes their tax liabilities.

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:

1. Proper valuation: A seller can either self-assess his property or resort to an external source such as a real estate agent, to determine the market value of the property in question.
2. Self-selling versus hiring an agent: The seller has the option to either sell the property by himself, or to hire a real estate agent.
3. Advertising: The seller can advertise his property on various mediums such as internet, classifieds, pamphlets, word-of-mouth or through a broker.
4. Obtaining permissions: The seller must obtain No Objection Certificates (NOCs) from various authorities as required. These authorities maybe;
   
   • Society
   • Income tax authority
   • Municipal Corporation
   • The competent authority under the Urban Land Ceiling and Regulation Act
   • Any other authority

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:

1. The contribution is on non-repatriation basis
2. Investment is done as an inward remittance, or out of NRE/FCNR (B)/NRO account maintained with AD Category-1 Bank.
3. The Indian firm or proprietary concern should not be engaged in agricultural, print media or real estate business.

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:

1. Where investment is preferred to be repatriable by NRIs/PIO.
2. For investors other than NRIs/PIO.

The decision for the same will be taken by RBI and Government of India on case-by-case basis.