Before investing in a Property or Project of your choice, you must also look into the availability of the basic amenities such as connectivity of the place, power, water, sewerage, etc. It is crucial to look into 360-degree aspects around the property. The overall infrastructure, scalability of the project, Hospitals and School nearby. The buyer should also meticulously check the builder's credibility, goodwill, years of experience, number of projects completed and delivered, associated banking partners and the loan flexibility involved.
Over the last 10+ years, there has been a sea change in the overall development of Tier-II cities. Cities like Bhubaneswar, Indore, etc. have been significantly transformed over this period. With developments in the technology sector, Tourism, Healthcare, Education, etc., economic growth has been very prominent. It is for this reason that there are many opportunities to come up in these areas. It is always a visible option to have investments made in these cities considering the property appreciation value in the coming times.
Property investment is the most risk-related investment as there are many agencies who are fraud and uninformed. With low-cost solutions and very personalized service, these fake agents get the attention of the property buyers but eventually, they mislead the buyers. Therefore, it is always to opt for developers who have more than 25+ years of industry experience. With a greater network base, market credibility and real-time information, with RERA registered trusted developers, buying property become a great experience.
The essential parameters for Property buying are:
- Property Developer's years of experience and market reputation?
- In the case of new and ongoing projects, whether the project has obtained RERA registration?
- Whether all the required approvals are in place?
- Whether the project is an under-construction or a ready possession Project?
- Whether there is any encumbrances/ litigation with respect to the land on which the Project is being constructed?
Documentation is most important in the home buying process. It is advisable to get professional legal help to help you verify the validity of the documents. Once you have confirmed and agreed on the home of your choice, it is necessary to check up on some important documents closely before proceeding further. Check out the approved layout plan, the building plan, ownership documents, etc.