Key-Points to Check before Investing in Real Estate

Key-Points to Check before Investing in Real Estate

KPDK Buildtech Associated with Bikanervala Sweets
January 19, 2018
Are Registration Fee and Stamp Duty Mandatory on Property Resale
January 30, 2018
Show all

Key-Points to Check before Investing in Real Estate

Compared to other investment options, real estate is conventionally considered as good finance possibility. With some simple key points in mind, you can easily decide where to make investment in Gurgaon for better profit. Let’s take a look on some significant checks.

Key-Points to Check before Investing in Real Estate

Government Policy, Sanctions and Approvals: Before putting money in the builder’s pocket, one should check the government registration of the project. After the implementation of RERA, builders are unable to play with your money by channelizing it in other projects and it also ensures timely delivery of projects. Side by side you can also run a check on the government approvals and permissions granted to the builder. This will be beneficial when applying for loans as well.

Differentiate Super Area and Actual Cover Area: Prior to the investment, you should know how much area is covered under super area, which includes common conveniences (Stairway, Elevators, Foyer, and Passageway). On the other hand also ask for the cover area, which actually includes walls and your luggage compartment. Builders try to attract you mentioning high coverage area and separate common facility areas. You should always check the space first, and then take the decision whether it will suit you or not.

Cost of Giveaways: In today’s busy and fast life everyone is ready to pay any amount for facilities. In the same way builders also influence their projects by mentioning free woodwork, white goods and appliances. You can be easily lured with the offers, but remember nothing comes free in the real world. It might be interesting to check, if these giveaways are included in your property agreement or you have to pay a separate amount for them.

Builder History and Detailed Project Report: Being a responsible person, it is always advisable to investigate on both builder rapport and project details. Your advance homework can help you to save from becoming a victim. To overcome demonetization, several builders promise buyback of the same property at 30 – 35% premium after completion of around 18-36 months. It is good to check the connectivity of the projects from your workplace, shopping center, airports, metro and entertainment locations. Look out for the hidden terms and conditions along with possession time and disaster safety measures.

On an ending note, once you are agreeing to all terms and find the property in Gurgaon as per your desire, check your financial position. You can’t ignore the other charges like property tax, maintenance and other miscellaneous things. An out of budget property will force you to rethink on future goals (child’s education, marriage or retirement) and could hit your savings too. You can contact one of the top New Real Estate Destination in Pataudi Road.

Leave a Reply

Your email address will not be published. Required fields are marked *