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Key Factors to Consider Before Buying an Under-Construction Property in 2025

Things to keep in mind while buying under construction property in India - 2025

Purchasing a project under construction can be the best investment you’ve ever made, provided you do it with caution. With Pune’s housing market on fire and best builders in Pune coming out with promising upcoming projects, 2025 holds great promise for shrewd homebuyers. But the stakes are high, and a wrong move may cost you big time. SK Fortune Group, being one of the top real estate developers in Pune, has been shaping the city’s skyline with its high-end developments such as Fortune Prospero and Fortune Prima. Relying on experience of decades in the delivery of good quality homes, here is your ultimate guide to make the right choice while investing in under-construction property.

1. Developer’s Track Record – Your Safety Net

Your builder’s reputation is literally the foundation your new home stands on. Investigate their previous projects, delivery schedule, and customer satisfaction rates. Fortune Developers has time and again completed projects such as Chintamani, Himgauri, and Sterling within time, generating trust among Pune homebuyers.

What to inspect

  • Completion rates of previous projects

  • Construction quality in completed projects

  • Customer testimonials and feedback

  • Company financial stability

2. Legal Documentation – Your Safeguard Against Future Issues

Never settle for anything less than legal authentication. See that the developer has all the requisite approvals of municipal corporations, environmental, and RERA registration. Pune redevelopment builders such as SK Fortune developers keep all documentation transparent, assuring buyers of peace of mind.

Must-check documents

  • RERA registration certificate

  • Sanctioned building plans

  • Land title papers

  • Environmental clearances

  • Occupancy certificates of past projects

3. Location Analysis – The Golden Rule of Real Estate

Location decides everything from your daily commute to your property appreciation potential. New developments in Erandwane, projects under construction in Shivaji Nagar, and residential projects in Model Colony are well connected and provide lifestyle amenities.

Location factors to consider

  • Schools, hospitals, and shopping centers proximity

  • Connectivity through transportation

  • Infrastructure development plans for the future

  • Safety and environment of the neighborhood

4. Financial Planning – More than the Booking Price

Properties under construction need to be paid for in installments, and financial planning is, therefore, essential. Determine the total cost with registration, stamp duty, and other charges. Most upcoming residential projects in Pune have flexible payment schemes that minimize the financial load.

Financial factors to consider

  • Alignment of the payment schedule with your income

  • Pre-approved home loan status

  • Underlying charges and extra payments

  • Potential for price appreciation

5. Quality of Construction and Specifications

Don’t get carried away with glossy brochures, look deeper into building specifications. Luxury residential complexes in Pune such as Prashanti and PS Tower by SK Fortune Group employ top-notch materials and latest construction methods, withstanding the test of time and ensuring safety.

  • Quality check points

  • Design of foundation and structure

  • Specification of materials

  • Safety aspects and compliance

  • Energy-saving systems

6. Timeline Reliability – When Will You Get Your Keys?

Delayed possession can upset your whole life plan. Select developers who have a good track record of timely delivery. Fortune SK has always delivered projects such as Yashodhan and Sargam within committed time schedules.

7. Redevelopment Projects – Special Considerations

Redevelopment projects in Pune offer unique advantages but require additional scrutiny. Projects like redevelopment in Pune locations such as Prabhat Road and SB Road can offer premium locations at competitive prices.

  • Redevelopment-specific factors

  • Consent from all existing members

  • Temporary accommodation arrangements

  • Timeline for completion

  • Area calculation accuracy

8. Future Growth Potential

Consider the area’s development trajectory over the next 5-10 years. New upcoming projects in Pune in emerging areas often offer better appreciation potential than established locations.

  • Post-Purchase Tips – Stay Involved After You Book

Booking an under-construction property is just the beginning of your homeownership journey. To make sure everything stays on track, it’s important to stay engaged even after the paperwork is done.

  • Visit the Site Regularly

Make it a habit to visit the construction site every few months. Seeing the progress with your own eyes not only gives peace of mind but also keeps you updated on timelines and quality.

  • Keep in Touch with the Builder’s CRM Team

Maintain regular communication with the builder’s customer relationship team. They can provide key updates on construction milestones, delays (if any), and any approvals or changes that might affect your unit.

  • Join Community Groups

Look for WhatsApp or Telegram groups created for buyers in your project. These platforms often become a valuable space to exchange updates, share concerns, and stay informed with real-time feedback from fellow homeowners.

By staying involved, you ensure better transparency and can catch potential issues early, making your property journey smoother and stress-free.

Making the Right Choice with SK Fortune Group

When you invest in experienced developers like SK Fortune Developers, you’re not only purchasing a property, you’re placing your faith in a legacy of quality and trust. With hits like Garud House, Fortune Perfect, and current developments in various prime Pune locations, SK Fortune Group continues to raise the bar in the real estate market.

Don’t forget, purchasing an under-construction property is a marathon, not a sprint. Be patient, do your research well, and opt for a developer who shares your dreams with as much passion as you do. With proper planning and the right partner, your dream home is here to stay in Pune’s burgeoning real estate market.

Ready to view luxurious under-construction properties? Get in touch with SK Fortune Group today and learn why we’re the leading builder in Pune.

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Top 5 Locations to Invest in Luxury Residential Projects in Pune 2025

Top 5 Locations For Luxury Residential Projects in Pune 2025

In the dynamic environment of Pune’s realty market, it is crucial to find the best location to invest in luxury residences to maximize your returns and quality of life. At SK Fortune Group, we take pride in providing luxury living experiences with carefully crafted spaces that marry luxury with practicality. Let’s analyze the best five locations in Pune with great investment prospects for luxury residential projects in Pune in 2025.

1. Erandwane – The Epitome of Elegant Living

Erandwane has always been one of Pune’s most elite residential locales, and for good reason. This area provides the ideal blend of peace and accessibility, which makes new developments in Erandwane extremely desirable to discerning homebuyers.

Why Erandwane stands out:

  • Well-established neighborhood with tree-lined roads

  • Close proximity to educational institutions such as Fergusson College and Law College

  • Great connectivity to Deccan Gymkhana and other inner areas

  • High-end social infrastructure such as upscale restaurants and cafes

The high-end residential segment here is still valued with redevelopment offering new possibilities for contemporary living while maintaining the area’s historic character.

2. Nal Stop – Where Heritage Meets Modern Luxury

The locale around Nal Stop is experiencing a renaissance as innovative new projects shape the skyline. This traditional junction is becoming a luxury residential centre while holding on to its cultural heritage.

Why Nal Stop new projects should be on your radar:

  • Conveniently located linking Karve Road and Fergusson College Road

  • Walking distance to upscale shopping areas

  • Harmonious blend of commercial and residential properties

  • Sound appreciation potential owing to continuous infrastructural development

The attractiveness of this neighborhood resides in the fact that it can provide a high-end way of life with the comfort of having everything at one’s doorstep.

3. Prabhat Road – Luxury Living Redefined

Prabhat Road is the epitome of high-end living in Pune. With one of the city’s most sought-after addresses, the area is undergoing tremendous change under redevelopment efforts.

Why redevelopment builders in Prabhat Road Pune excel:

  • Ultra-premium neighborhood with exclusive residential enclaves

  • Lush green surroundings providing a peaceful living environment

  • Highly sought after with limited availability to provide a high-value proposition

  • Immediate proximity to Deccan Gymkhana and other high-end neighborhoods

The trend in redevelopment here is that of boutique luxury projects that provide as-of-yet unseen living experiences while still respecting the neighborhood’s heritage of exclusivity.

4. Shivaji Nagar – The Central Hub of Luxury

Shivaji Nagar remains the pulsating heart of Pune, with Shivaji Nagar under construction properties providing investors with a chance to become a part of this bustling ecosystem.

Why Shivaji Nagar stands out:

  • Strategic location allowing easy connectivity to any area of the city

  • Houses key government offices and corporate entities

  • Steady rental returns due to regular demand

  • Lively culture with theaters and cultural centers

Redevelopment schemes in Shivaji Nagar, Pune are very appealing since they offer the prime location benefits combined with contemporary comforts and design themes.

5. Model Colony – A Perfect Mix of Luxury and Ease

Model Colony has emerged as a high-end residential colony which provides a perfect mix of luxury and convenience. The demand for 3 BHK apartments in Model Colony Pune remains on an upward trend with families and investors.

Why Model Colony is unique:

  • Thoughtfully laid out with high-density residential plots

  • Its proximity to Fergusson College and other institutes of learning

  • Fine social infrastructure such as parks and sporting facilities

  • Strong community sentiment with a mix of local traditional and cosmopolitan inhabitants

The location provides high standards of living with the promise of great long-term appreciation.

The SK Fortune Advantage

At SK Fortune Group, we know that investing in luxury real estate is more than just a financial decision… It’s about selecting a lifestyle that defines your aspirations and success. Our developments at these high-end places are created to provide unparalleled quality, eternal style, and well-considered amenities that enhance day-to-day living.

Whether you seek new residential properties in established areas or redevelopment opportunities that redefine city living, our portfolio presents thoughtfully selected options that guarantee instant gratification as well as future appreciation in value.

Speak to our experienced advisors now and learn how our top-tier offerings in these prime locations can be aligned with your investment aspirations and lifestyle desires.

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Legal and Financial Checklist for Society Redevelopment in Pune

Legal and Financial Checklist for Society Redevelopment in Pune

Redevelopment is a game-changer for old housing societies in Pune. With limited space and old infrastructure, redevelopment not only gives a new face but the chance to elevate lifestyles, enhance security, and add value to homes. But before your society makes the transition, having a clear legal and financial checklist isn’t only prudent… It’s mandatory.

Whether you are a managing committee member or a society member, knowing what to prepare, what to check for a builder, and what legal safeguards to take can make or break your redevelopment journey.

Let us deconstruct the Checklist for Housing Society Redevelopment in Pune, legally and financially.

1. Society Readiness: Begin with Internal Clarity

Before any legal process starts, society needs to be on the same page in vision. Redevelopment should not only be a builders’ proposal… Rather, it should be residents’ need-based and aspiration. Hold a general body meeting (GBM), take minutes of the same, and pass a resolution authorising the decision for redevelopment. Normally, a 51% consensus of society members is required according to Maharashtra Cooperative Society Act standards, though 70% is generally considered advisable.

Checklist

  • General Body Resolution

  • Member Consent Forms (signed, unit numbers, etc.)

  • Updated list of society members

2. Legal Documentation: Lay the Right Foundation

Strong legal documentation is the foundation of every successful redevelopment. Pune’s real estate scenario has changed with RERA regulations, and transparency is no longer a choice.

Must-have Legal Documents

  • Society Registration Certificate

  • Title Documents of Land (Original Sale Deed, Conveyance Deed, Property Card)

  • Development Agreement with Builder

  • Power of Attorney (POA)

  • Approved Plans & Commencement Certificate

  • Occupation Certificate (Post Completion)

  • Resolution Copies with Notarization

  • RERA Registration of the Redevelopment Project

You should also make sure that the builder acquires a No Objection Certificate (NOC) from concerned authorities, such as the fire department, environment authorities (where necessary), and municipal corporations.

3. Financial Audit: Check Your Society’s Current Status

Before leaping into any deal, carry out a professional financial audit of the finances of the society. This encompasses maintenance funds, pending member dues, and liabilities. A clear financial record enhances your negotiating capacity with builders.

Checklist

  • Financial statements of past 3 years

  • Auditor’s report

  • Breakup of the sinking and repair funds of the society

  • Member-wise outstanding dues

4. Builder Selection: Go Beyond the Gloss

Selecting the correct redevelopment partner is paramount. Seek Pune redevelopment builders who have a successful track record, RERA-approved projects, and a healthy balance sheet.

Don’t be afraid to ask hard questions…

  • How many redevelopment projects have they successfully completed?

  • What is their financial strength?

  • Will they offer temporary accommodation or rent during construction?

  • What amenities and carpet area will members get after redevelopment?

Pro Tip: An honest and transparent developer, such as SK Fortune Group, will be upfront in providing documents, timelines, and project designs, providing your society with confidence and peace of mind.

5. Financial Agreement & Compensation Clarity

The Development Agreement should clearly mention all financial terms. These are:

  • Corpus amount per member (if any)

  • Rent or cost of alternative accommodation

  • Shifting and relocation fees

  • Escalation clause (in case of delay in the project)

  • Payment schedules

Your society must also hire a legal advisor and architect to review the agreement and oversee progress.

6. RERA and Regulatory Compliance

Pune redevelopment projects need to be registered with MahaRERA. Verify that the chosen builder has completed this step and that the society’s project is registered with a unique RERA number. This adds legal transparency and offers protection to the homeowners under the RERA Act.

Quick Legal Checklist

  • Member Approval: Obtain a majority vote for redevelopment in a Special General Body Meeting.

  • Development Agreement: Prepare and sign a detailed agreement with the builder, project timelines, compensation to members, and builder requirements.

  • Legal Guidance: Hire legal and project management consultants to steer the process.

  • Tender Documents: Finalize and prepare tender documents, feasibility reports.

  • Permits and Approvals: Get required permits and approvals from the concerned authorities.

  • Power of Attorney: Complete and obtain a Power of Attorney from society to builder.

  • Registration: Register Power of Attorney and Development Agreement.

  • Section 79A: Comply with Section 79A of Maharashtra Cooperative Societies Act, which safeguards rights of society members.

Quick Financial Checklist

  • Feasibility Study: Demand a proper feasibility study to evaluate the cost of the project, the benefits, and possible risks.

  • Funding: Raise funds for the project through contributions from developers, society funds, or taking loans.

  • Security Deposit: Make the builder deposit a security deposit in the name of the society.

  • Financial Transparency: Keep clear financial accounts and see that all transactions are reported.

  • Compensation: Decide and settle reasonable compensation to society members, such as construction period rent and corpus.

  • Budgeting: Prepare a detailed project budget, such as construction expense, material expense, and administrative cost.

  • Payment Schedule: Make a payment schedule with the builder and pay in time.

  • Record Keeping: Keep proper records of all financial dealings, such as receipts, bills, and bank statements.

  • Auditing: Consider engaging an auditor to review the project’s finances.

Final Thoughts: Why This Checklist Matters

Society redevelopment is a one-time opportunity… Get it right, and you’ll transform your community for generations to come. At SK Fortune Group, we’ve helped numerous Pune societies navigate this transition smoothly with end-to-end support, be it documentation, design, execution, or post-completion services.

Remember, the strength of your redevelopment lies in your preparation. The more organised and informed your society is, the better your outcome will be…

Let’s build your society’s future, today.

If your society is planning redevelopment in Pune and you’re looking for the best redevelopment builder in Pune, connect with SK Fortune Group for a consultation that’s transparent, expert-led, and designed for you.

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Step-by-Step Guide for Redevelopment Of Your Society in Pune

Step-by-Step Guide to Redeveloping Your Society in Pune

Is your housing society on its way to aging? More than just eyesores, cracked walls, leaking pipes and other outdated amenities are signals that redevelopment may be near. However, as Pune progresses toward becoming an urban centre, many older societies are turning towards redevelopment as a means to bring in the modern way of living. Below is your step-by-step guide for the exciting but complex journey of society redevelopment in Pune.

Understanding the Need: Is It Time?

Before spending your time on paperwork, ask yourself: Do you really need to redevelop your society? Look around – are repair costs mounting? Is structural safety an issue? Are you envious of the amenities of newer buildings? At this point, it’s probably time to speak.

Redevelopment is not just about getting a new shiny apartment. It’s about adding value to your property, increasing its value, and making sure you have a safe structure for decades to come.

Building Consensus: Your First Community Meeting

Change begins with conversation. Make a call to all society members to meet in a primary meeting and see if there is any interest. So here are some things to make it productive.

  • You have clear evidence of why redevelopment is necessary
  • Encourage experienced societies that have been redeveloped to share their journey
  • A dedicated committee should be created to drive the process
  • Everyone’s voice matters (address concerns openly)

Transparency is your best ally from the moment one – you’ll never get 70% consent to go forward officially for society redevelopment.

The Most Critical Decision: Selecting the Right Developer

The developer you choose to build your redevelopment dream will make it or break it. When you are evaluating a potential partner like SK Fortune Group, you should:

  • Completed projects in Pune on the track record
  • Financial stability and construction quality
  • Transparency in communication and documentation
  • Previous society redevelopment experience
  • Proposed terms and benefits to society members

Don’t rush this decision. Before proceeding, visit their completed projects, speak with previous clients, and scrutinize their financial health.

Crossing Your T’s and Dotting Your I’s: Redevelopment Legal Framework

Pune redevelopment requires dealing with a number of legal formalities so redevelopment becomes ‘red tape’.

  1. Update your society registration and title documents
  2. Go to the city survey office to verify land ownership records.
  3. Get a structural audit report from licensed engineers
  4. Write of a development agreement with the developer you have chosen
  5. Secure necessary permissions from PMC (Pune Municipal Corporation)

It would be wise to consider putting in place a legal advisor in redevelopment to help guide your society through these critical steps.

The Transition Phase: Temporary Housing Arrangements

The transition period is probably the most disruptive part of redevelopment. Quality developers will arrange for:

  • Rent compensation during construction
  • Assistance with moving logistics
  • Regular construction updates
  • Clear timelines for project completion

This is a time when you can create a communication channel between residents and developers to deal with issues as quickly as possible.

Beyond Construction: The Road to New Beginnings

The next chapter is drawing near, as construction continues to complete.

  • Conduct regular quality inspection.
  • Review promised amenities and specifications
  • The moving in process can be planned systematically
  • Revise society laws to reflect your new infrastructure
  • Set up maintenance protocols for new facilities

The SK Fortune Difference

A lot of developers promise redevelopment expertise, but SK Fortune Group is Pune specific and community oriented in all that it does. Through our transparent redevelopment process, societies no longer get new buildings, they get revitalized communities of modern living that respect the neighborhood values.

Redevelopment isn’t just about tearing down old buildings and building new ones; it’s about reinventing how people live together in the community. When done right, it is more than a building, it’s a change in the quality of life for everyone.

Are you ready for redevelopment for your society? Contact SK Fortune Group to discuss a preliminary consultation that puts your community’s needs first.

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