Are you thinking about buying a 1 bhk flat for sale in Noida or flats in Pune for sale? You may also be considering flats for sale in Pune. Both are excellent options when it comes to building your home. Metropolitan areas with access to various amenities you need to survive, moving to Pune or Noida can be ideal.
However, there are certain factors that you should take into consideration before deciding to move to either city. This especially applies to the kind of property you will purchase, and where you’ll purchase it from.
What should you look for when buying a 1bhk for sale in Noida?
Here are four things you should keep in mind when choosing your 1bh for sale in Noida:
Selecting the Right Developer
Keep in mind that should a project be developed by a builder that is unknown, or a builder working on their first project, then the chances of delays goes up. Such flats may be cheaper compared to other flats, but ultimately, you may not be able to move into them.
That is why even if you have to pay a slight premium, opt for buildings constructed by a developer that is reputed. This will help ensure that the project is executed, and you’re able to move into your new property.
Specifications of the Project
Just because a flat is small, that doesn’t mean it can accommodate you as well
Buildings are becoming taller and taller, and the need for green open spaces is increasing. Consider looking for a project that has a park next to it. A building next to other public areas may be ideal as well.
There may be a small premium associated with such 1bhk flats for sale in Noida. This can be between twenty five to fifty acre to begin with. However, you’ll be getting better amenities access to more resources, so the premium you need to pay is something you should take into consideration.
Absorption Rates
Absorption can slow down in certain areas in Noida, that currently have large inventories. Absorption in places like the Noida Extension and Yamuna Expressway could continue to decrease. If an area has a lower absorption rate, then buying properties in such areas could be more expensive.
Such properties are better suited for investors investing over the long term. They should ideally have a timeframe that falls between five to ten years. Consider buying such 1bhk flats for sale in Noida only if you intend to use the property over the long term.
Geography
Both Noida as well as Greater Noida have a water table that is high. This different from Gurgaon, which has a paucity of ground water. You can also access Delhi from Noida better than you can from Gurgaon. Keep in mind that Noida and Gurgaon both lie on a seismic zone 4, so the possibility of earthquakes is something you’ll need to live with.
Buying a 1bhk flat for sale in Noida
Noida is increasingly becoming a much sought after destination for people looking to buy properties. Areas which offer affordable 1bhk flats for sale in Noida include the Noida Extension, Greater Noida, the Yamuna Expressway, as well as Noida proper.
Noida has also posited itself as a more attractive place to live than Gurgaon. One way Noida has achieved this is by bringing down the cost of buying property, when compared to Gurgaon. You’ll need to pay nearly twice as much to buy the same property in Gurgaon.
Here is what the average price is, per square feet, in different areas of Noida:
- Noida Expressway: Rs. 5450/sq ft
- Noida Extension: Rs. 3118/ sq ft
- Noida to Greater Noida Expressway: Rs. 4800/ sq ft
- Sector 44: Rs. 12,000/sq ft
- Sector 1: Rs. 3100/sq ft
- Sector 143A: Rs. 5315/sq ft
Keep in mind these prices when looking for a 1bh flat for sale in Noida.
Your Guide to Buying Flats for sale in Pune
Pune is a city in Maharashtra that is currently attracting people from across the country. People are considering moving to Pune both to work there, as well as for education. When it comes to buying flats for sale in Pune, the people coming into the city have some very specific requirements. These requirements are often different from what people who were born and brought up in the city have.
Pune is also witnessing a growth when it comes to real estate, and demand is especially high when it comes to the IT hubs.
What can you find in the Real Estate Market in Pune?
There are flats available in various price ranges, from Rs. 35 lacs all the ways to Rs. 10 crores. Your spending capacity will play a role in determining the flats for sale in Pune that you choose.
There has also been a considerable demand when it comes to the real estate sector from non residential Indians. They find that their returns on investment from buying properties in Pune are high. They can also provide their homes for rent when they live abroad.
Even though real estate markets in other major cities has continued to slow down, the market in Pune has stayed resilient. This is due to the high demand provided by IT/ITeS sectors.
What are the micro-markets that you should know about in Pune?
Consider buying flats for sale in Pune in localities like Koregaon Park, or Bibvewadi, or even Central Park. Such areas are great for newcomers to the city to buy properties in. The infrastructure in these areas is well developed. You can find hospitals, schools, as well as entertainment centers in these areas.
You can also look for a place to sta in Hinjewadi or Magarpatta. These are closer to the IT hubs as well as businesses and companies, resulting in affordable prices.
There are places you can consider on the outskirts of the city as well. These include Wagholi, Undri, Ravet, Wakad, as well as Talegaon. Flats for sale in Pune in these areas are great for families as well as those living by themselves. Another great location for flats for sale in Pune is Hadaspar. These areas are also great for capital appreciation, and should you want to make money through rent.
Investing in the Real Estate Market in Pune
Here are some things to consider when investing in property in Pune:
- Why are you buying flats for sale in Pune? Do you intend to use it yourself, rent it out, sell it to another buyer, or something else?
- In case you want to move into your flats for sale in Pune, then consider how soon you want to move in.
- Should you later want to move out, then remember to check the rental market first.
- If you want to live in your property, then check to ensure where the physical as well as social infrastructure in the area meets your needs.
- Before making your downpaynent, consider checking what your loan eligibility is with banks.
- Consider consulting a property expert to know more about the different localities in Pune.
Conclusion
Buying a 1bhk flat for sale in Noida or flats for sale in Pune can both be excellent options whether you want to move in, or use your property for something else. You can find affordable housing in well developed areas in both these cities, and you are certain to find the amenities you are looking for.
Consider getting in touch with a property expert to learn more about 1bhk flat for sale in Noida or flats for sale in Pune.
