Real Estate Guide For Buying Property In India

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Real Estate Guide For Buying Property In India

Investing in property is a big step in life. And one definitely needs a guide for helping with this major decision of life. This is when we turn towards the internet for help. But people are still left confused with all the rules given in articles; it is obvious as most of the real estate articles found on internet do not offer clear information. So, here is the ultimate real estate guide to help people of India in buying property.

Look for The Right Agent

Finding the perfect partner for helping you out with different properties is the very first step. Go for an agent who has quite good experience and history in dealing with properties in the localities you are interested in. Before hiring a person, check if he has good enough knowledge about the area and the neighbourhood. Also, see that he is well-versed with the current market in the real estate business. A guy with good contacts and knowledge of properties along with amazing negotiation skills is the person you should always go for. So, find such an agent for you before you start with the property hunting.

Identify Properties

Once you hire the agent, he will help you from the very start of finding the right property for you. So, before you start with your search, tell the agent about your requirements regarding the real estate you are interested in. This will increase the pace of your search. When you are clear about the property, start looking for similar projects in the localities of your preference. Make sure that you check the amenities and facilities right at the begin, especially the ones that matter the most to you. Figure out other parameters and specifications about each property you come across. Once you shortlist, start taking a visit to properties and strike out the ones that do not fulfil your key parameters. Always make a list of all the things you liked and you did not like in a property. This habit will make the property hunting process easy for you.

Understand Your Budget

One most important factor while investing in real estate is the price of the property. Understand your budget and how much you are willing to invest. Always remember that apart from the cost, there are few other overhead charges too that are normally not included in the total pricing. Some of the overhead costs are stamp duty, property tax, brokerage fees, legal fees, etc.

Keeping all these factors in mind, again check the shortlisted properties and see which of them fall in your range. The best way to find a property that fits in your budget is by looking at real estate projects those are for sale like NBR meadows plots for sale in Hosur. Once you find a property, check for the bank from where you can take a home loan.

Run Background Checks

When you are buying a property, let it be a primary one or the secondary, always make sure that it is registered on the name of the seller or the developer. This gives them the right to sell the property. If the property you are interested in is in the housing society, then check if it has all the occupancy and safety certificates. Also, it is recommended that you get the agreement checked by a legal expert to find any loopholes or susceptible conditions in the contract. It is best that you check properties that are pre-approved like the DTCP approved plots in Hosur. This will avoid any legal trouble in the future.

Now, that you have done all your checks and found the right property for you, you can finalize the deal. However, before you do that, here are some important points to take a look at-

  • Check and confirm the sanction plan and development is legally approved.
  • Be sure that the building or the plot is legal and there are no violations of rules involved.
  • Do not forget the NOC (no objection certificate) from the electricity, water, and land ceiling authorities.
  • Have an idea about the payment method and the procedure.
  • Get all property related documents to get your home loan.
  • Get your allotment letter once you pay the booking fees with all the details of the property.
  • Sign a sale agreement.
  • Lastly, get the possession of the property and register in the local municipality about the property.

This is all you should know before buying a property of your own. For checking out more such real estate projects without any legal hassles, take a look at some of the popular sites in Hosur Bagalur road.

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