1. Permission for the project.
One has to check the legal status of the property in terms of permission approved for the project before buying.The project should have a project initiation certicate from the local bodies or concerned authorities before starting of the project.
After the completion of the project the builder has to get a project completion certificate from the responsible authorities.The above mentioned certificates ensure that the project has been approved by the local authorities and electricity and water facilities are also available.
2. Reputation of the builder in the current real estate market.
This is one of the most formidable thing one has to take into account before buying a flat or apartment.Always go for a reputed builder, otherwise you will be facing a big risk with your investment.Cross check the history of the builders alog with the general feedback,specifications of the building and quality of the building promised by the builder.
3. Building ownership.
Verify that the builder has the right to sell the property to you. Examine that the the agreement between the land owner and builder is valid or not. A simple way to check the validity is that to examine whether reputed banks have cleared the property. If there is no problem with the bank clearance then the ownership of the property is flawless and you will not face any problems later.
4. Number of projects reviewed.
This is about the number of projects one should consider before finalising into a particular project.you have to consider atleat 75-100 projects and give an intrest to 10 - 15 projects. Out of these offers only few may have the chance to get accepted from which you can opt for one.After continous research settle for your dream project.
5. Discussion of the price.
It is better to have someone who is experienced during the time of the discussion of the price of the property. This will be very helpful as an experienced professional will have knowledge about the current real estate market trends.
Discussion is not just about settling for a lower price.This is also about bringing important details applicable to the buyer.
6. Position /location of the project.
Take some time to examine the exact location of your flat/apartment in the overall project layout.Just visit the website one last time before finalising your flat/apartment in the overall project.
7. Different stages of the project.
The 4 stageswhere you can buy a property are the following:
a. Before launch
This is the stage before starting of the project.This is the stage in which your propety is actualy in visualisation process and you are actually funding the builder.In this stage buyer is not giving huge amount of money tp builder. This stage involves some element of risk.
But risk will be low in case of a reputed builder. Its best to go with the pre launch offer.
b. During launch
In this stage the project has already started and the basic structure of the project is coming up.In this stage price of the property will be higher than that of the prelaunch.You can get a full idea of how building will look after the completion.
c. Completed stage.
In this stage the project is fully completed.The risk is too low in this stage.The price will be very higher during this stage comparing other stages.
d. Transportation Stage
This stage involves the shifting of people to the apartments or flats.
One will get a good idea about how the property is being maintained how trustful the builder is.
One has to check the legal status of the property in terms of permission approved for the project before buying.The project should have a project initiation certicate from the local bodies or concerned authorities before starting of the project.
After the completion of the project the builder has to get a project completion certificate from the responsible authorities.The above mentioned certificates ensure that the project has been approved by the local authorities and electricity and water facilities are also available.
2. Reputation of the builder in the current real estate market.
This is one of the most formidable thing one has to take into account before buying a flat or apartment.Always go for a reputed builder, otherwise you will be facing a big risk with your investment.Cross check the history of the builders alog with the general feedback,specifications of the building and quality of the building promised by the builder.
3. Building ownership.
Verify that the builder has the right to sell the property to you. Examine that the the agreement between the land owner and builder is valid or not. A simple way to check the validity is that to examine whether reputed banks have cleared the property. If there is no problem with the bank clearance then the ownership of the property is flawless and you will not face any problems later.
4. Number of projects reviewed.
This is about the number of projects one should consider before finalising into a particular project.you have to consider atleat 75-100 projects and give an intrest to 10 - 15 projects. Out of these offers only few may have the chance to get accepted from which you can opt for one.After continous research settle for your dream project.
5. Discussion of the price.
It is better to have someone who is experienced during the time of the discussion of the price of the property. This will be very helpful as an experienced professional will have knowledge about the current real estate market trends.
Discussion is not just about settling for a lower price.This is also about bringing important details applicable to the buyer.
6. Position /location of the project.
Take some time to examine the exact location of your flat/apartment in the overall project layout.Just visit the website one last time before finalising your flat/apartment in the overall project.
7. Different stages of the project.
The 4 stageswhere you can buy a property are the following:
a. Before launch
This is the stage before starting of the project.This is the stage in which your propety is actualy in visualisation process and you are actually funding the builder.In this stage buyer is not giving huge amount of money tp builder. This stage involves some element of risk.
But risk will be low in case of a reputed builder. Its best to go with the pre launch offer.
b. During launch
In this stage the project has already started and the basic structure of the project is coming up.In this stage price of the property will be higher than that of the prelaunch.You can get a full idea of how building will look after the completion.
c. Completed stage.
In this stage the project is fully completed.The risk is too low in this stage.The price will be very higher during this stage comparing other stages.
d. Transportation Stage
This stage involves the shifting of people to the apartments or flats.
One will get a good idea about how the property is being maintained how trustful the builder is.
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