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16 March, 2016
Looking to buy your dream house? If yes then just prepare yourself with the real estate information you need. Many a time you will get stuck with too many questions, but you need to focus on your exact requirement. Here are few important questions that you should ask before buying a home.
1. What is the current status and future prospect of the property in the realty market?
Whether you are first time home buyer or a seasonal investor, you should know where you are investing. For this, you need to do thorough research work and price comparison of similar as well as all nearby properties that have been recently sold. You also need to check out, both high and low range property options in the area for better understanding the current status of the realty market. This is because it is not the property but the land underneath which makes the real asset and has greater appreciation potential.
2. Has the project all construction permission from the concerned government agencies?
This is obviously the most important thing you should enquire before investing in any residential venture. Many a time, projects have been stopped midway due to lack of necessary approvals. Even many completed projects have been bulldozed for the same reason. Therefore, to be on the safer side, check if the property has all legal approvals from the concerning government and private agencies or not at the builder's office.
3. How safe and efficient the building has been built?
It is important to know what home automation systems like 24 hour CCTV surveillance with manned security, video door phone system, wi-fi zones, automatic lighting in the bed room and touch switch lighting controlled via smart phones, tablets etc. have been used in the building to provide you fully automated homes that you can control with a touch.
4. How Is the Payment plan?
Construction Linked Plan (CLP), Time Bound Plan and Down Payment Plan are three main types of payment plans that are popularly used in India during the purchase of a home. The selection of payment plan depends upon individual’s urgency to buy a home as well as his/her financial condition.
5. How good is the connectivity?
Accessibility and connectivity matters a lot when you look for residences. In the fast hectic life, it is difficult to take out time for yourself and your loved ones. So, try to save time living close to our work place. Projects that are well located and well connected to major transport hubs like bus terminus, metro stations are highly preferred by home buyers. Also, it is seen that people prefer places which have necessary life's amenities like good roads, schools, colleges, hospitals, banks, shopping centres etc located at close proximity.
6. Is the house built in accordance with the green building norms?
A high performance Eco-friendly home lessens overall impact to the built-up and to the environment. Green roof, drainage system, ASTM standard PVC pipe usage, provision for common lights etc provided in the building ensure that it is sustainable and suitable for green healthy living.
7. What are the project amenities?
Different projects come with different amenities which may include crèche- day facility, separate swimming pool for kids, senior citizen corner, yoga/meditation center, gym, spa, library, guest apartment, ATMs and even convenience shops to meet your everyday needs at affordable prices. Many latest projects include bus terminus cab service to facilitate commuters to travel to their respective destinations everyday conveniently. Modern day families look for these amenities. If you are seeking these facilities then do look for them before finally saying yes to any project.
8. What are the monthly utility (Maintenance) costs?
Do check the bills for home utilities like piped gas, electricity, water and other services charged every month. Apart from basic necessities of life, Maintenance charges taken per annum should also be known by the customer in the area.
9. Is the house Vastu compliant?
Conformity to vastu, which is ancient Hindu architectural system, intends to integrate architecture with nature. This is done to make design flexible with regards to space, light ventilation and functionality.
10. Is the residential building earthquake resistant?
Although most of the building currently have Seismic zone III compliant RCC framed structures, but you need to confirm about it from the agent. Taking insurance coverage for your home will help you refrain from potential losses (minor or major) to the property caused by these natural calamities.
Uttar Pradesh RERA: UPRERAAGT10868
Maharashtra RERA: A51900000246
Goa RERA: AGGO07180190
Haryana RERA: HRERA(REG.) 59 OF 2017
Bihar RERA: BRERAA00637/26/A- 50/2018
Punjab RERA: PBRERA-CHD04-REA0102
Karnataka RERA: PRM/KA/RERA/1251/310/AG/171113/000598
Gujarat RERA: AG/GJ/AHMEDABAD/AHMEDABAD CITY/AUDA/AA00607/230723R1
New Delhi : DLRERA2019A0057