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We all know that Real Estate in Indiais one of the fastest growing and assures evaluating multiple deals. Being one of the exciting fields, where you have to prefer deals that interests you and keeps your investment safe. For which, you require to stay acknowledged beforehand about the things and facts to finalize any property deal. This will make your property decisions estimable and hassle-free.
10things you Must Check Before Buying a Property
1. Authenticity, approvals, and licenses:Builder’s paperwork from commencement certificate for the work, environmental clearance, and an approved building plans will help in getting the status of the builder. Get the details of the builder whether he is the owner of the site or have only the development rights.
List of documents must be crosschecked
a. Title Deed: During the time of buying a plot see, a title deed of land that has any sort of right over the property to confirm the builder’s right. Take a help from a lawyer.
b. Release Certificate: Check for the release certificate if you are buying it in a resale whether the loan if taken was repaid. Also, check the Encumbrance certificate that the plot is free from any sorts of legal dues.
c. Verify the use of land: Get the plan from the local body to understand the city master plan to verify the use of land as per the city master.
d. Approvals via local body: Get it approved by the development corporation along with the local body of the city.
e. Property Tax Receipts: Ask for previous property tax receipts whether there are no pending bills.
2. Name of the banks financing the project: Find some banks that can offer you loans at lower rates once you finalize the property.
3. Calculation of the total cost: Always ask for the final cost of the property including the amenities being provided. property rates in India needs an estimation of all the costs included.
4. Verify the builder: Find the authenticity of the builder; get the verification done through online forums or other people.
5. Buy or rent: The property remains vacant unless you find a tenant, think for some other sources as well for the repayment of your dues.
6. Choose the right payment plan: With the introduction of various plans, you can get any sort of plans from the property search sites in India.
7. Area of the apartment: Space of the apartment and other facilities such as parking, clubhouse, playground etc must be checked.
8. Check on to the neighbourhood surroundings: Surroundings are secured and have no pollutant areas nearby.
9. Go for the site visit: Check on to the plot or site visits.
10. Get your property registered: Registration is the last and required a step in the end.
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