Buying a property means investing one’s savings of lifetime. A lot of a times, even the value of the residential property is so high that you’ll not be able to rally with the price after counting all the money you have saved for years and you may end up taking home loans from banks & financial organizations. It would take many of time and money in the figure of monthly EMIs when you pay back the home loan, so it is a reasonable idea to invest wisely and securely so that you get what you are investing for.
Given below are few vital points that you can take as reference while Buying a flat:-
Look Weather The Plan is Construction Linked Plan
Most of the real estate developers go for CLP(construction linked plans), which puts heavy burden on the purchasers. Under construction linked plans, the bank pays installments to the real estate developer on the behalf of the purchaser on completion of certain construction-related milestones. The bank pay outs a convinced amount on the pre-determined slabs laid by the builders and most of the amount is composed by the builders till the conclusion of the property’s building. eBook your own home this quarantine at the lowest price 3 bhk flats in jagatpura jaipur.
The last 5% of the total cost of the property has to be paid by the purchaser after the real estate developer offers property’s possession. The purchaser’s loan repayment starts after s/he gets the possession of the property. However, the purchaser is paying much more than the actual cost of the property. She/he is paying the EMI, the interest on the EMI and an amount as Pre-EMI.
There’s a risk for the purchaser where the seller or developer delays handover of the property over the agreed period. As a purchaser, you can check the past records of the developer before investing there for the property and if possible, avoid construction linked plans, planned real estate projects.
Check Whether The Plan is Sanctioned
The next tip is that you should look for is that whether the map is authorized or not. A authorized property plan means if the builder has proper authorized rights to build the residential property on that particular piece of land or not. The proprietor of the land have to have all the credentials that show his/her ownership towards the land. The credentials include transference deed, change certificate and civic tax credentials. The property proprietor must have all dues cleared and municipal taxes remunerated in order to pertain for plan authorizing. So if you are looking for ready to move apartments, make sure to seem for the properties that are with authorization and the building plans are authorized so that you do not have to face any officially problem in getting loans, pledge the property or selling it. “May be permitted projects even consequently be condemned for new clients if there is a substantial delay or building is not in line with authorized plans or a stern court case is filed,”.
Check Whether The Developer Has A Superior History Background Of Completing Projects
You may be looking for the planned location of the flats, total urbanized area and facilities offered by the builder while looking for an apartment society, but did you ever ensure whether the real estate builder has a good reputation for timely handovers or not? Well, there are a lot of real-estate builders who start with large concepts and show their superior than life picture that lures the prospective customers, but investing in those properties give the purchasers nothing more than disappointment.
- It is, then, suggested that one have to research well on the builder’s background and check whether she/he has been able to finish any project, and even if he has completed a only some projects, how early she/he was able to complete it.
- Financial position of the developer matters so much when one is looking for a residential investment. If the builder has debts on him/her, it would be not possible for him/her to comprehensive the project, even when she/he gets financial shore up from the bank.
- So, if you are bearing in mind the above mentioned tips while buying in a residential property, you will get a property that is value your investments, as one smart choice can help you get the most excellent property in budgeted value. If you are on the lookout for spacious 3 or 2 bhk flats in jagatpura jaipur or even luxurious 4 BHK apartments in Jagatpura.