Decision of buying a house depend on a number of parameters. One alternative could be economical ( price competitive )and the other could be  luxurious flat with a better lifestyle ( value for money ). Here  are a few guidelines, which will help you make the right choice. This checklist is divided into 3 sections. The 1^st Section relates to the location of the project, 2nd emphasizes on the Developer’s creditability & track record and 3rd section describes the amenities and specification of the project.

Section - 1

:

Distance from the railway station, Bus Stop & High way

Accessibility

:

To schools, hospitals, shops, restaurant, place of worship etc.

Surrounding

:

Whether it is situated in close proximity to any industries, Slums, thickly populated area or in a peaceful and pollution free environment.

Infrastructure

:

Availability of water supply, regular power supply, sanitation & drainage arrangement, surrounding roads etc.

Section - 2

Creditability of the developer

:

1) Find out since how long has the Developer establishment himself in the Construction business.

2) Check the track record of previously completed projects in terms of timely completion and quality work.

3) Verify the marketable title of the project.

4) Enquire about the after sales service offered by the Developer.
 

Resale Value

:

Future value of your asset in terms of quality and environment of the project Also obtain reference of the Developer form :
a) Existing customers.
b) Brokers.
c) Finance Institution.
d) Friend & relatives.

Section - 3

Amenities / Specification

:

Find out quality of material and finish of flats offered  by the Developer, As certain importance of features like good flooring,  plumbing fittings, type of windows, electrical wring etc.
 

Planning

:

check ventilation in a flat placement of various rooms, provision of lifts, servant toilets etc. Check the lays out of all building incase of a big complex.
 

Layout

:

Swimming Pool, Health Club, Garden, Sport Facilities, Essential shopping & Security with in the complex.
 

Visit to Project

:

It is important to visit the project and find out details about the customer who have already booked the flats to ascetain quality of people and cultural appropriateness Which has to match your requirement.
 

Few Tips

Buying property is no child’s play. It is serious business. More often than not, many people do not know how to go about it and face many difficulties. Here are A FEW tips:

Check on the developer. Not all developers are good. These are quite a few who invariably cheat people by selling plots of land without procuring the necessary ‘sanctions’. They are called ‘unauthorized colonies’ Phone a friend and verify.

All colonies / buildings are to be developed as per the rules and regulations laid out by the ‘Competent authorities‘. These could be the Municipal Corporation, the Development Authority, the Regional Planning Authority or the Town Planning Development. Check with all of them.

The subject land needs to be checked for its ownership. This is called ‘title check'. Take photocopies of the relevant papers and ask your advocate to do a title clearance from your advocate.

Take a copy of the ‘agreement to sell’ (before signing it) and get the opinion of your before entering into a deal.

Never sign on any paper without consulting your advocate.

Make all payments only by cheque.

Never make any payments before consulting your chartered accountant. He will explain to you the tax implications an how best to go about it.

Always see the property before deciding on buying it. Most brochures are misleading.

Marketing talk is marketing talk. Take it with a pinch of salt. Always verify

Whether the promises are going to be made in writing or not.

It makes sense to take a loan to buy a property.

Never be in a hurry to buy property. You will repent when it is too late. There are always many good options.

Read all the papers at least twice before signing.

Seek the advice of a good broker. Take the help of Indiapoeprtyzone.com.

Back