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Hi Fishes,
I have cleared all rounds of interview for Lead Software Engineer at Principal Global Service and am now waiting for an offer. How's the work culture in Pune office? And how much compensation should I ask?
YOE- 6.75 years
Tech- Java, AWS, DevOps
Current CTC- 17.5lpa
Thanks in advance.
Principal Global Services
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Hi there, probably I could provide some guidance as I recently bought a second flat and this time kept on searching for a flat for nearly 6 months or more.
1. The minimum amount that you would need would be at least 10 percent of what the builder has quoted. So let's just just for a 90l flat you would need atleast 9 lacs in hand (it's always better to assume this part without considering you would be doing any negotiations). However, it doesn't end there, there is 5.5 percent (please check what is the current rate) of stamp duty and 1% of Registration amount that you would need to pay upfront.
Also, in case the property is under construction, you Will need to pay the GST for all the cash payments that you make to the builder.
2. So while buying a property from any builder, the sales guy usually have a script based on which they would negotiate with you only upto a certain limit. However, I would recommend do not close the deal in just 2 or 3 sittings. Keep visiting them and tell them you would need to meet the main boss and like to negotiate some more. Always calculate price in per square feet of 'Carpet area' and not the saleable area. I bought my flat in Godrej Pune, however initially they were very stubborn and didn't negotiate at all, but later once I stopped visiting with 2 weeks I started getting multiple calls per day. So have patience, they usually would try to trick you to buy at the earliest showing less inventory / price hikes etc.
3. I would definitely recommend to clear off any personal or vehicle loan before buying a home. The reason being - your credit limit is significantly reduced if you have a personal loan and it would get pretty heavy on your personal front to pay home loan and a personal loan emi together.
Hope this is of some help. All the best for your house hunting!
One point I forgot to clarify, the 10 percent contribution is based on assumption that the bank is proving you the funding of 90%. Now, the bank funding is not just based on your salary but on multiple factors. For eg. Since, my wife and I were buying the property together, our eligibility was showing to be 2 cr plus, however, we got a finance eligibility of 85L on a properly of 91L (Excluding stamp duty and registration).
Do you think purchasing apartment is good idea or buying an individual house? Which is having a better resell value? Asking these questions because I am also in same boat and doing hunt for my first property. Thanks in advance.
But individual house is too costly even though it's good