Things to check before buying a property

Indian Real Estate Industry has an extremely distinctive picture. The metropolitan communities of India are well known to run for their cash. Some properties in Indian city cost more than even New York and Washington. Thane is among the most well-known location in Mumbai. Rising population is increasing the interest for private property. At this moment Thane is expanding, and all barren lands are changed over into townships. Business and residential properties are drawing in the attention of genuine buyers and investors.

The decline in the genuine business had brought affordability and availability of residential properties in regions that were previously distant for middle-class buyers. At this moment Thane’s real estate market is buzzing and the city is stretching out its outskirts to suit new residential, business and industrial needs. Mumbai, Financial Capital of India is seeing a steady rise in new business like the It, BPO sector, and ITES industry.

Putting resources into a property is a big decision. It takes a lot of research and a lot of money. A buyer must guarantee he does his research completely before he signs the property contract.

Here a list of 5 things to check before buying a property:

  1. Check the approval and licenses:

After you settle on the property you should check if the developer has all his paperwork set up including the work commencement certificate, approved building plans, environmental clearance and so forth. Request and ensure the land title status and check whether the land has been purchased by the builder or if they have only the developmental right.

Let’s assume you are investing in a residential project in Lodha Amara Thane; you should check documents such as

  • Title deed
  • Release certificate
  • Encumbrance certificate
  • Certificates verifying land use
  • Approvals by local body
  • Property tax receipts
  1. Check the banks financing the project:

Since buying a home is a costly business, developers are commonly tied up with many banks. E.g. in Thane, there are renowned builders like Neelkanth Group, Godrej Constructions, Piramal Group, Lodha Amara and so on. Most manufacturers can direct you with your bank loan. You can pick a bank that offers the most minimal financing costs and matches your EMI spending plan.

  1. Check the plans for infrastructure:

Picking a builder plan with great foundation and urban amenities is an easy win as they can immensely support you and gain a better return on investment. A residential project with great schools, hospital facilities, shopping amenities and entertainment centers is the perfect choice.

  1. Verify the builder:

Look into the reputation of the developer. You should check if the land on which your apartment is being constructed is or isn’t under any litigation. You can get an idea about the developer’s reputation based upon their past and current projects.

  1. Consider the apartment size:

Before you set out to buy a residential property, consider the requirement based upon the family size, future plans, locality and so on. It makes sense to buy the apartment after seeing the sample flat.

Property developers are coming up with offers to draw in customers. They are putting forth deals to customers on buying properties in Thane. The city will stay in the growing phase in the coming years. Also, in this way, the point of property developers is on improvement of its infrastructure, for example, development of new road, expanding of existing road, development of flyovers and subways. So they can reduce traffic jams and make the general population transportation more efficient. With these facilities, Thane will continue to develop and prosper.

With the affordability and availability of residential properties emerging in the Indian real-estate market, authentic real-estate investors are putting resources into residential properties in Thane. Owning a flat or land with the goal that we can build a dream house is a fantasy for many among us. However the rise in prices is inevitable, buyers with a need will buy the property.

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