Real estate is always a great investment option. While you may have heard stories of quick resales that fetched a much higher price and made it into the news, rental income forms the core of real estate investment value. That’s because historically there has been very little real home price appreciation. The rent generates a steady monthly income, like a classic utility stock that pays dividends. If the value of your property increases, then that should only be seen as an added bonus to your steady stream of income. But making a real estate investment in a residential or commercial property is not the equivalent of a low-cost index fund. Carpet area: most projects only declare the overbuilt area, which means that you will be charged for a square meter that you never use including wall thickness and certain common areas. The area of the rug is the actual area you will be living in, so it is important to understand how much the area of the rug is for the space. Under RERA, builders can no longer charge you a fee per square foot based on overbuilt area. They should charge you only according to the area of the rug, so it is important that you have a clear idea about it.
Construction Quality – If the builder has previous projects that were completed, ask previous buyers about the quality of the construction. You should also check the quality of the tiles and the brand of the bathroom accessories that they will use for your project. If you are using third-party contractors for construction, then you should check the market reputation of these contractors for quality of construction.
Other Costs: Price is generally quoted as a per square foot rate and this does not include GST, registration fees, clubhouse registration and any other fees not included in the builder’s quoted price. GST has affected the cost of projects, so it is best to check the final price that includes all these charges before making a decision.
Check Certificates of Completion or Occupancy: If you are purchasing an entire project, ask to see the certificate of completion before making your purchase. You can also check if all the permits have been obtained from the municipal authorities.
Litigation Issues – If you are buying sole proprietorship or resale property, check to see if there are any litigation or disputes about the property. Even a builder should be able to provide you with the agreements with the land owners and clear documents showing that there is no pending litigation on the property.
Lastly, each builder has a separate payment plan. To plan your payments and if you need enough time to apply for a loan, be sure to get a detailed payment plan from the builder so you can manage your finances wisely. http://blog.pinclick.com/tag/house-for-sale/, http://blog.pinclick.com/tag/real-estate-india/ty-guide/