Buying a property for investment, and renting it out is one of the safest ways of creating future wealth. However, choosing the right property is quite challenging. Going through multiple brochures, scanning various neighbourhoods, and comparing different projects is mentally and physically exhausting.
Also, it is essential to know that the property in question is going to make money by fulfilling both the short and the long-term objectives.
Always remember that buying any property, for whatever reason, should not be a rushed decision. Numerous factors need to be considered before finalising a home for living or investment. Whether it is a commercial or residential property, several essential considerations need to be taken into account before buying.
Those who are looking for a property and want to invest in the buy-to-let market, especially in Kharadi, this blog is for you. This blog answers- how to choose best investment property? Which are the best residential projects in kharadi Pune? And which are the best type of property investments? And a lot more. Continue reading and find out how you can guarantee a good income for years to come.
1. Know The Area
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Kharadi is one of the fastest-growing suburbs in eastern Pune with Pune airport in the north, Wadgaon Sheri in the west, Awhalwadi in east and Mundhwa in the south; This is one of the most preferred residential destinations for people working in IT sector in Pune mainly because of EON IT Park, Magarpatta and Hadapsar.
Kharadi has good connectivity with the rest of the city. Pune Railway Station is located 11 km away caters to the area. The proposed Ramwadi Metro Station on Line 2 (PCMC to Swargate) is tentatively scheduled to open in 2023 and will improve further connectivity.
Some of the popular areas in the locality are Ashok Nagar, Yashwant Nagar, Shetkari Nagar and Thite Nagar. And some well known real estate projects in the area are Zen Estate, Spectrum Towers, Godrej Infinity, Alcon Ritazza, Tuscan Parkland etc.
2. Choose The Right Neighbourhood
Kharadi is big enough to be explored ina day, that’s why choosing the right area in Kharadi is essential. A property that is situated close to educational institutes, offices, hospitals, convenience stores, banks and public transport will always be in high demand. So finding the right place which has enormous potential to become the next hotspot is the key to invest wisely. Also, look for properties which are little far from direct traffic to give you peaceful environs, and less noise and air pollution.
3. Invest In Property Near A School
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Investing in a property near a school has always been regarded as a wise decision. A school nearby provides security in the area. Plus, the development also takes place rapidly. Most families prefer security over everything; you might be able to generate adequate cash flow from other regions but getting a good return when the property is eventually sold becomes a concern then.
4. Stay Close To Other Amenities Too
Public transportation isn’t the only thing to keep in mind when you’re narrowing down your list of potential properties. Easy access to shops, civic amenities, public offices, restaurants, gyms, grocery stores, and other amenities can also make a property more desirable to potential buyers and tenants. These factors should be weighed carefully against the general location and access to public transportation to get a big-picture of how different properties compare.
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5. Check Out The Competition
Kharadi has registered the presence of almost all big real estate developers- Kolte Patil, Mahalaxmi, Godrej and many others have their projects in the area and are searching for open spaces to build more complexes. Go for under-construction properties of well-known developers. These properties are affordable and come with generous offers to not stress your budget.
Do your research on other listings in the area from real estate aggregator websites like housing.com, 99acres.com, magicbricks.com, etc. If there are an unusually high number of rental properties available, this could well mean that demand in the area is low. Vice versa, full occupancy means high growth potential and high prices.
6. Choose low-maintenance properties
Remember that houses with pools and gardens require a lot of care and time, so opt for apartments and avoid independent homes. In large complexes, maintenance and security are taken care of by society, and you are free to enjoy the home as it is.
7. Research Rates In The Area
Check all the areas for actual flat rates as well as rental rates. Knowing the qualities of studio apartments to spacious 4 BHKs will give you a lot of clarity and understanding of the area wise prices. Make a list of everything and compare all based on your requirement and budget.
8. Speak to the locals
If possible, ask people who live in the area. Tenants and natives tend to be far more honest about the negative aspects of a place as they have no monetary interest and therefore, nothing to lose by telling it as it is. So ask in other apartments and from strangers in the same building.
Remember, buying the right property takes a great deal of time, effort, and money. So it is wise to keep expectations realistic and to ensure that all financial affairs are healthy enough to sustain the burden of extra requirements.
In case, you are looking for investment-worthy homes in Kharadi, Pune, then do not look further than Zen Estate by Mahalaxmi Group; This is a residential complex of the year 2020 and also a winner of the ‘Best Project In Kharadi’ award.
Come to Zen for premium riverside 2 and 3 BHK flats in kharadi and get a peaceful life forever.