Hunting high & low for properties in Baner?

Baner, one of the most preferred locations in Pune for housing and home buying.

Do you Agree?

Well! We do. Here is why you too might agree.

 Baner, as a location happens to be close to Hinjewadi area as well the Pune central region. It turns out to be the ideal location that people who are working in the IT Park in Hinjewadi look for while buying a home. Ideal location because of having office just a half an hour drive away and the frequent ply of buses and other transportation facilities.  Pune central region also located in close vicinity ensures casual hangouts in evening during free time with family and friends for some quality time.

With the advent of more real estate projects in the Baner location, it is grabbing attention of more and more investors and potential home buyers. The real estate market of Pune shall soon approach saturation, while locations like Baner are already flooded with many of the new residential as well as commercial projects and ventures by the top builders & developers of the city, the location still remains people’s favorite for a home and has the potential to still provide quality homes for home buyers.

Are you too hunting high & low for properties in Baner?

Well! As we mentioned in our previous posts as well, you can grab yourself a new property from the diverse range of residential projects that are at the ongoing stage or you may look forward to the attractive upcoming projects that many builders such as Naiknavare Developers Pvt. Ltd. which are planning to launch new ventures in the location. Thanks to the Real Estate Bill.

So, without further ado, you can get all set to buy a new home and have the keys to your dream home in time. 

Amendments in Real Estate Bill to benefit home buyers

Are you aware of the amendments proposed in the Real Estate Bill?

What is exactly the Real Estate bill?

For your knowledge, the Real Estate Bill is a bill that was proposed to bring in more transparency in the transactions taking place in the real estate industry. The features of the bill speak of having a regulatory authority to take control and monitor the development of projects, the details set out  by the builder and developers, the pricing of the projects, etc.

The Real Estate bill that was applicable to only the residential real estate is now made applicable for both, the residential and the commercial real estate. This will enable complete procurement of information and details about the real estate projects in both, the residential and the commercial real estate.

With the amendments proposed in the real estate bill, the home buyers can look forward to take possession of the new flats/properties on time. With the acceptance by the housing ministry of the parliamentary panel’s recommendation on the real estate bill that bars the developers to extend or rather divert more than 50% of the amount received from the buyers towards other new projects.

Initially, according to the original bill, the state governments were allowed to lower the limit while now, post approval of the amendments, the ministry has agreed to the panel’s recommendation to empower the state government to make strict provisions and raise the 50% threshold but not lower it.

So, if you have already invested or bought a flat in a location like Baner (this region is expected to give the home buyers variety of options of properties to choose from in coming time) and have not yet got the possession of the flat, then this bill will help you get your property on time.

For those of  you who are searching for fabulous residential properties in Baner with a fine-tooth comb, this bill will ensure you get your home keys in hand on time without any delays as been happening over the years. 

Understanding EMI calculations

Have a property in mind and have planned to opt for a home loan for the same?

As spoken in our previous blog, Equated Monthly Installment is more about Evaluation, Management and Implementation of the research you carry out before opting for a home loan. Post the research having a complete understanding about the calculation of EMI is important.  To begin with, let us understand what EMI stands for.

EMI or Equated Monthly Installment is described by the Investopedia as “ a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both the interest and the principal each month, so that over a specified number of years, the loan is paid off in full.”

Surely, this definition is self explanatory, however, we shall have an in depth understanding about EMI with the help of an example in the latter part of the blog.

From the definition we can arrive at an understanding that when a borrower borrows money, he is entitled to make a certain fixed amount of payment to the lender periodically for several years so as to complete he loan repayment. This loan repayment can differ from one payment scheme to another, depending on the comfort of the borrower to repay the loan over a certain period of time which may be short or long term. 

One of the main benefits of paying EMI for the borrower is that he is well informed about the amount he needs to pay to the lender every month, making his budgeting process easier.

The formula for EMI (in arrears) is:

or, equivalently,

Where: 

• P is the principal amount borrowed, 

• A is the periodic amortization payment, 

• r is the periodic interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and

• n is the total number of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360).

Consider an example, a person takes a loan of 20,00,000 units of currency from the bank at 10.5% annual interest of 10 years (120 months), then the EMI can be calculated equating the mentioned details in the equation stated above in the following way:

EMI = 

Units of currency 20,00,000 * 0.00875 * (1 + 0.00875)^120 / ((1 + 0.00875)^120 – 1)= Units of currency 26,987.00

Hence, the person will be paying 26,987.00 units of currency for 120 months to completely repay the loan taken from the bank. The total amount that he would be paying will sum up to 26,987*120= 32,38,440.00 units of currency. This includes 12,38,440 units of currency as the interest paid towards the loan.

Industries Spur New Ideas and Projects in Chakan

Any person familiar with the Pune of old will tell you that once the only two things associated with Chakan were Onion market and edible oil, but not anymore. This quite little suburb to Pune is fast becoming its manufacturing hub.

Maharashtra Industrial Development Corporation (MIDC) started this spurt in the growth of Chakan by setting up a Special Economic Zone there. Before anyone realised, household names in manufacturing, big international players all had registered presence there; Volkswagen Group, Daimler-Benz, Mahindra & Mahindra, Bharat Forge, Bajaj Auto to name a few. Other than these biggies there are over 750 large and small companies, including a number of automobile component manufacturers based in this area.

An area that attracts such big names and such a plethora of medium and small firms, automatically barges into the consciousness of every kind of service provider. How then can the construction industry, always known for spotting trends early on, be left behind?

The last few years have seen a big spurt in residential projects in Chakan of all types and sizes. These projects are trying to cater to the imaginations and aspirations of the upwardly mobile and ambitious youth who are actively spurring on growth in this industrial belt.

Flats in Chakan at Dwarka

One very interesting project that has come up here is 'Dwarka' by Naiknavare Developers. The most fascinating thing about this project is that it takes inspiration to be ideal and futuristic from our mythology. It has been designed inspired by the ideal city of Dwarka, built by Lord Krishna for his subjects. Spread over 130 acres, this township has different neighbourhoods and share common amenities. It has been built on the Bharat Pattern of urban planning.

This project is a must explore for anyone who wishes to see the richness of our mythology turn into a practical modern day township.

Eagle’s Nest - The Crowning Jewel of Talegaon Properties in Pune

The Pune property market has seen a sudden surge in growth in the recent past. There were some areas that encountered a massive boost, like Talegaon because of real estate growth in Pune. Young home buyers are now thinking of making investments in outskirts like Talegaon. With projects like Eagle’s Nest, by Naiknavare Developers Pvt. Ltd. Talegaon has become even more desirable.

Eagle's Nest, one of the premium projects by Naiknavare Developers Pvt. Ltd, is located on the hill slopes with the caressing winds of Indrayani River valley. It’s an aesthetic project encompassed by the most desired attributes like hills, waterfalls, and fully grown forest area. The landmark project is well connected to Pune. It is just 35-40 Km away from the main city of Pune. The area is well connected to Old Pune-Mumbai Highway and Expressway.

Eagle's Nest, Talegaon

Apart from the above mentioned attributes, the property benefits thanks to a proposed 40 M wide road that runs parallel to the National Highway and connects Talegaon to the Express highway. A visit to the location will bring the sense of fulfillment and also an end to search for a perfect destination. Of all the Talegaon properties, Eagle’s Nest is the most sought after.

The property in Talegaon has perfectly built flats in Talegaon. It offers Town houses, Row Houses, Duplex apartments, 2 & 3 BHK flats that are built with style and class. Eagle’s Nest gives you all that you desire in a flat in Talegaon. With each type of residence strategically placed at different level to capture the aesthetic beauty of the landscape, this is one of those matchless Talegaon properties.  Eagle’s Nest is a landscape covered with natural surroundings and that makes it a priced possession.

Reasons Why Builders & Buyers in Pune are Hopping Mad Over Locations

We all know that builders in Pune are going that extra mile (literally) to ensure best locations for their residential projects. The fringe areas of Pune are a testimony to the fact that builders are looking for unconventional locations which have the potential to develop into mainstream neighbourhoods. Likewise skyrocketing prices of the saturated main areas in the city like Kothrud, Camp, Prabhat Road, etc prove how important the location is. The prices of properties are determined by locations. Well, that was one reason why location is so important! Here a low down on a few other reasons.

Tells you about the People 

The name of the location itself gives you an idea about what kind of a neighborhood it is going to be – upper class, middle class, lower economic class etc. This is a huge factor when it comes to developer wanting to attract people and people looking for apartments in Pune.  

Safety 

Location is important for builders in Pune alike and buyers alike from the perspective of safety. The location of the project tells you how safe that area is going to be.

Connectivity 

Location is a crucial aspect for first time home buyer from the point of view of connectivity with major areas in the city. That is especially when the property in Pune is in the outskirts of the city. Additionally, things required daily or in emergency situations like medical care have to be within walking distance. If that is not the case, the property may not be bought. So builders in Pune would not generally take a risk in an absolutely non-descript location! 

Resale and Appreciation

It may not very well happen that you would stay in a single place for your lifetime. You would most probably change your place. If it is a well developed location or developing location, the property will definitely fetch a good resale value and appreciation. 

Taking care of all these aspects while conceiving a real estate project is Naiknavare Developers Pvt. Ltd. (www.naiknavare.com) with almost 3 decades of experience in real estate, this ranks among the most well known and trusted real estate builders in Pune.

Real Estate Developers in Pune

We know you might not be interested even wee bit in reading about Pune properties and blah, real estate developers in Pune. But then, hey, we have to show our clients that we work! (Okay, by now, we hope that you understood that we are obviously kidding!) So we would like to start over again.

Over the past few years, builders/real estate developers in Pune have been making merry, creating Pune properties in greener pastures on the outskirts of Pune. Gradually, however, in that department too, developers are running out of gas (read space). You would not need an Einstein to observe and understand the fact that some of the reputed real estate developers are already looking out of Pune to expand their business.

The easiest and most viable options out of Maharashtra for real estate developers in Pune seem to be Goa, Bengaluru and perhaps Hyderabad. With developers looking to tap these exciting emerging markets, it is adding to their repertoire. As a result, an enhanced brand value and presence is created for the developer. On the flip side, the prospective buyers get the benefit of increased choice of properties. For instance, a home buyer is looking for properties in Goa. He cannot zero in on a property, as the developer that buyer wants to be associated with does not have a presence in Goa.

In this scenario, if the particular developer the buyer favours has a presence in Goa, the buyer is most likely to consider that. Further, venturing in another state gives the developer the chance to create contacts and grow their business. The same applies to developers from other areas planning to develop properties in Pune. Primarily, the whole point of writing this blog was to say that whether it is the most renowned developer with the best of Pune properties or properties in Goa, getting out of comfort zone is the key to success. We say adieu till next time!