Buying your first home is a significant milestone, but it can also be overwhelming—especially in a dynamic real estate market like Pune. Whether you’re looking for a budget-friendly apartment in Hinjewadi, a luxury flat in Koregaon Park, or a spacious home in Wagholi, you need to be well-prepared.
This detailed checklist will guide first-time buyers in Pune through every essential step, ensuring a smooth and informed purchase.
1. Define Your Requirements
Before diving into the property search, you should have a clear understanding of your needs. Ask yourself:
✔ What type of property do you need? (Apartment, Villa, Row House, Studio, etc.)
✔ Preferred location? (Close to work, schools, hospitals, metro stations, etc.)
✔ Configuration? (1 BHK, 2 BHK, 3 BHK, or larger)
✔ Amenities required? (Swimming pool, clubhouse, security, gym, etc.)
✔ Ready-to-move vs. under-construction?
Example:
A young IT professional working in Hinjewadi IT Park may prefer a 2 BHK in Wakad or Baner for easy commuting and access to nightlife. On the other hand, a family might look for a 3 BHK in Kharadi or Wagholi for spacious living and better schools.
2. Set a Budget and Check Affordability
Once your requirements are clear, set a realistic budget and check your affordability based on:
✔ Current savings (For down payment, registration, and initial expenses)
✔ Home loan eligibility (Based on income, CIBIL score, and financial obligations)
✔ Hidden costs (Stamp duty, GST, registration fees, maintenance charges, etc.)
Example:
If your budget is ₹80 lakhs, you might need around ₹10–15 lakhs as an upfront payment for a 2 BHK in Kharadi after including stamp duty, registration, and initial maintenance.
3. Choose the Right Location in Pune
Pune has diverse localities suited for different needs:
| Category | Top Locations | Best For | Price Range (₹ per sq. ft.) |
|---|---|---|---|
| Affordable Housing | Wagholi, Talegaon, Undri, Katraj | Budget buyers, first-time buyers | ₹4,500 – ₹6,500 |
| Mid-Segment Areas | Wakad, Hinjewadi, Kharadi, Baner | IT professionals, investors | ₹7,500 – ₹12,000 |
| Luxury Locations | Koregaon Park, Boat Club Road, Kalyani Nagar | High-net-worth individuals | ₹15,000 – ₹25,000 |
| Upcoming Investment Hotspots | Mahalunge, Moshi, Ravet, Tathawade | Future growth, appreciation potential | ₹5,500 – ₹9,500 |
Example:
If you are an IT professional working in EON IT Park, Kharadi, choosing a 2 BHK in Wagholi may be a cost-effective alternative to buying in Viman Nagar or Kalyani Nagar, where property rates are higher.
4. Check Builder Reputation and Project Legality
Before finalizing a project, research:
✔ Builder’s track record – Previous projects, delivery timelines, customer reviews
✔ RERA Registration – Verify the project on MahaRERA (https://maharera.mahaonline.gov.in)
✔ Legal clearances – Land ownership, environmental clearance, building approvals
Example:
A buyer interested in a pre-launch project in Wakad must check its RERA registration status to avoid risks of project delays or fraud.
5. Compare Home Loan Options
Most first-time buyers rely on home loans, so comparing different banks and NBFCs is crucial.
✔ Compare interest rates (HDFC, SBI, ICICI, Kotak, etc.)
✔ Check loan tenure and EMI affordability
✔ Look for special schemes (PMAY for first-time buyers)
Example:
For a ₹60 lakh loan, a 20-year tenure at 8.5% interest would result in an EMI of around ₹51,700 per month.
6. Understand Stamp Duty and Registration Charges
In Pune, buyers must pay stamp duty and registration fees on property purchases.
✔ Stamp Duty in Pune – 6% (5% government + 1% local body tax)
✔ Registration Charges – 1% of property value
Example:
For a ₹1 Cr property in Baner, stamp duty + registration charges would be around ₹7 lakh.
7. Verify Amenities and Future Development Plans
Check if the project offers:
✔ Essential amenities (Power backup, security, parking)
✔ Lifestyle amenities (Clubhouse, gym, swimming pool)
✔ Nearby infrastructure developments (Metro stations, highways, schools, hospitals)
Example:
A new metro line is expected to boost property prices in Hinjewadi. Investing in Maan or Mahalunge now could offer great appreciation in 5–7 years.
8. Negotiate and Finalize the Deal
Once satisfied, negotiate the final price and payment terms. Look for:
✔ Pre-launch discounts
✔ Flexible payment plans (10:90, subvention schemes)
✔ Additional offers (Free parking, modular kitchen, etc.)
Example:
A 3 BHK pre-launch flat in Wakad might offer an EOI (Expression of Interest) discount, allowing early buyers to save ₹5–10 lakh before official launch prices go up.
Final Thoughts: Buying Smart in Pune
Buying your first home in Pune requires careful research, financial planning, and due diligence. Here’s a quick summary of key steps:
✅ Define needs – Location, property type, budget
✅ Check affordability – Down payment, home loan eligibility
✅ Choose the right location – Based on lifestyle, budget, and work proximity
✅ Verify builder reputation & legal status – MahaRERA check
✅ Compare home loans – Interest rates, EMI, tenure
✅ Know the costs – Stamp duty, registration, maintenance fees
✅ Check future development – Metro, highways, IT parks
✅ Negotiate and finalize – Pre-launch offers, payment schemes
Want expert guidance on buying your first home in Pune?
Contact Kiaan Properties for the best deals, property insights, and financing solutions!
📞 Call/WhatsApp: +91 77966 55556
🌐 Visit Our Website: kiaanproperties.in
