Benefits of Buying an Apartment in Under-Construction Projects in Pune
Choosing between an under-construction project or a ready-to-move-in project can be a challenging task for home-buyers because both have their benefits. Earlier, homebuyers used to choose ready-to-move-in properties over under-construction properties to avoid possession delays. However, with the arrival of RERA, homebuyers can freely choose an under-construction property, if it has a valid RERA number and is a project by a reputed real-estate developer.
However, if you know about the pros and cons of buying an apartment in one of the best Under-Construction Projects in Pune or a ready-to-move-in project then it can ease your process of choosing the right home for you. Let’s check out the key differences between the under-construction projects and a ready-to-move project.
Comparison: Pros and Cons of Under-Construction & Ready-to-move-in Projects
| Factors | Under-Construction Projects | Ready-to-move-in Projects |
|---|---|---|
| Cost | Generally Lower Cost, Scope for Early Investment at Lower Costs | Higher Cost as it includes Completed Infrastructure and Amenities |
| Customization | You have several options for Customizations in Layout and Interiors | There is no or very limited Customizations Available |
| Possession | Longer Possession Time, Potential Delays may also Occur | The Homebuyers can have Immediate Possession |
| Payment Flexibility | These Properties Generally have a Phased Payment Structure based on the Construction Timeline | Full Payment Required Upfront, or Payment could be done as per the Loan Terms |
| Legal Risks | It Needs Careful Due Diligence for Legal Clearances | There are Lower Legal Risks as most Approvals are already obtained |
| Appreciation Potential | Higher Appreciation Potential During the Construction Phase | Lower Appreciation Rate as most value is already realized |
| Maintenance Cost | Lower Initial Maintenance Costs | Regular Maintenance Required |
| Market Risks | Vulnerable to Market Risks during the Construction Phase | Less impacted by Short-term Market Fluctuations |
| Transparency | Governed by RERA for more Transparency | Already Transparent in Terms of What is being Offered |
The Benefits of Under-Construction Projects in Pune
Investing in an under-construction property in Pune offers many benefits to the home-buyers which make them an appealing choice for both homebuyers and investors. Some of the benefits, under-construction projects offer are as follows –
1. Lower Price & Better Returns:The under-construction properties have lower entry prices as compared to ready-to-move homes which is the major advantage of buying a home in under-construction projects in Pune. Hence, the early buyers generally benefit from price appreciation because the project leads to higher capital gains near completion.
2. Flexible Payment Plans:When you go for an under-construction project, then you can opt for flexible payment plans. These plans are usually structured based on the construction timeline. Such a phased payment plan significantly reduces the immediate financial burden and makes it easier for you to manage EMI payments and plan your finances effectively.
3. Customization Options:One of the major advantages of buying a home in an under-construction property is greater flexibility in terms of layouts and interiors. This provides the home-seekers with opportunities for customization to their home as per their preferences.
4. Newer Infrastructure & Modern Amenities:The under-construction projects are comparatively newer as they’re recently launched, which means they usually come equipped with the latest amenities to enhance the overall living experience.
5. Higher Appreciation Potential:The under-construction properties have high appreciation potential as compared to ready-to-move projects and this is especially true in the case of rapidly developing areas. Hence, under-construction projects are a great option for property investment as they yield better returns over time.
6. Lower Maintenance Costs:The under-construction properties have lower maintenance costs as these properties are brand new and the maintenance cost will be minimal during the initial years which can eventually reduce your overall expenses.
7. RERA Protection:The Real Estate Regulatory Authority (RERA) mandates compliance from developers by ensuring transparency and safeguarding the buyers’ interests. This saves the buyers from issues like false promises or fraudulent activities eventually making the purchase of under-construction projects more secure.
Top 10 Under-Construction Projects in Pune
We talked about the benefits of buying an apartment through under-construction projects. However, here we will discuss the top under-construction projects in Pune.
1. Birla Bund Garden:The residential enclave of Birla Bund Garden has been designed thoughtfully in a prime locality of Pune, Birla Wellesley Road, near Bund Garden. The project is spread over a total land area of 5.76 acres with 4 towers having a G+49 floor structure. These towers are the tallest in the vicinity. The apartment configurations offered in Birla Bund Garden are 2 BHK, 3 BHK, and 4 BHK apartments and the sizes of the apartments vary from 1215 sq. ft. to 2565 sq. ft.
2. Kohinoor Central Park:Kohinoor Central Park is one of the thoughtfully designed residential complexes that is planned to be developed in a prime locality of Pune. This residential enclave is spread over a total land area of 13.5 acres. There are 8 towers with 22 floors in each tower. The apartment configurations in this residential complex are 2 BHK and 3 BHK apartments. The sizes of the apartments with different configurations vary from 725 sq. ft. to 1087 sq. ft. The project was launched in May 2024 and the possession is expected to begin in December 2028.
3. Godrej Evergreen Square:Godrej Evergreen Square is Pune’s one of the most sought-after projects developed in a prime locality of Pune, Hinjawadi, Megapolis Circle. The project is spread over a total land area of 11 Acres and there are a total of 8 towers with a 32-floor structure. The apartment configurations offered in this residential enclave are 1 BHK Pune, 2 BHK Pune, and 3 BHK Pune apartments. The sizes of the apartments in Godrej Evergreen Square vary from 470 sq. ft. to 920 sq. ft.
4. VTP Monarque:VTP Monarque is an amazingly crafted residential project in Pune. The total project area covered to develop this project is 10 Acres. There are a total of 2200 flats in this residential enclave and the possession of this project is expected to begin in December 2027. There are a total of 7 towers with a 35-floor structure in each tower. The apartment configurations offered in this residential enclave are 2 BHK and 3 BHK apartments. There are also 4.5 BHK duplexes in VTP Monarque. The sizes of the apartments in VTP Monarque vary from 805 sq. ft. to 1490 sq. ft.
5. Lodha Bella Vita:Lodha Bella Vita in NIBM Pune is being designed meticulously and the project is spread over a total land area of 13 acres and the builders are going to provide 400 units in this new residential development in Pune. The project was launched in August 2021 and the possession is expected to begin in December 2024. There are a total of 10 towers with 27 floors in each tower. The apartment configurations available in Lodha Bella Vita are 2 BHK, 3 BHK, 4 BHK, and 5 BHK apartments. The apartment size varies from 805 sq. ft. to 2300 sq. ft.
6. Kasturi the Balmoral Hillside:Kasturi the Balmoral Hillside has been designed in a prime locality of Baner Pune. The project is spread across a vast land area of 5 acres. There are 2 towers in this residential development with a 2B+G+P+38 floor structure. The project of Kasturi the Balmoral Hillside was launched in July 2022 and the possession of this project is expected to start in December 2027. The apartment configurations offered here are 4.5 BHK & 5.5 BHK residences. The size of the residences in Kasturi the Balmoral Hillside vary from 2153 sq. ft. to 5740 sq. ft.
7. Godrej Woodsville:Godrej Woodsville is a new-launch project in Hinjawadi, Pune. The project is spread over a total land area of 4.94 acres. A total of 992 apartment units are being developed in Godrej Woodsville. There are 4 towers in Godrej Woodsville and the apartment configurations offered in Godrej Woodsville are 1 BHK, 2 BHK, and 3 BHK apartments. The sizes of the apartments in Godrej Woodsville vary from 508 sq. ft. to 973 sq. ft. The project of Godrej Woodsville, Hinjewadi, Pune was launched in September 2022 and the possession will start in November 2026.
8. VTP Earth One:VTP Earth One is being developed in Mahalunge, Pune. The project is spread over 10 acres with 7 towers & 35 floors in each tower. The project was launched in May 2023 and the possession of this project is expected in December 2028. The apartment configurations offered in this residential complex are 2 BHK, 3 BHK, 4 BHK apartments, simplexes, and duplexes. However, the sizes of these apartments vary from 673 sq. ft. to 2892 sq. ft.
9. Godrej River Greens:The site of the residential project of Godrej Boulevard in River Greens in Manjari Pune has been designed majestically. It is part of a 100-acre township called Godrej River Greens and this particular project is spread over a total land area of around 5.48 acres. The project was launched in February 2020 and it is expected to be ready for possession in March 2025. There are 7 towers with G+22 Floors structure where the builders will be offering a total of 766 apartment units in 2 different configurations including 2 BHKs and 3 BHKs. The sizes of the apartments in Godrej Boulevard vary from 691 sq. ft. to 951 sq. ft.
10. Majestique the Ornate:Majestique the Ornate is developed in a prime locality of Pune, Baner. This residential complex is spread over a total land area of 3.25 acres. There are 2 towers with more than 300 flats. The apartment configurations offered in the Majestique Ornate are 3 BHK and 4 BHK apartments and the sizes of the apartments in Majestique the Ornate vary from 1141 sq. ft. to 1680 sq. ft. This residential project was launched in August 2022 and the possession of this elegant project is expected to begin in December 2026.
The Final Words
Buying an apartment in one of the under-construction projects in Pune is a rewarding investment, however, you need to do it with strategic planning. However, certain advantages of under-construction properties include lower costs, lower maintenance costs, higher capital gains, and customization options. These advantages attract both end-users and investors. If you’re planning to buy a home in an under-construction project in Pune, then check out the above-mentioned projects and secure your dream home in Pune. You can also read about the Posh Area in Pune to live.
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