Things to be considered before opting for an attractive real estate package
Are you lured by the assured returns and buy back offers by renowned developers? Are you looking to opt for various beneficial investment options in the real estate which will fetch you large amount of ROI? Perhaps, stop for a minute and think again before getting lured by these offers. A home buyer should always keep in mind that the absence of a centralized regulatory body that compiles any price related information or information regarding upcoming or existing projects cannot be relied upon solely when it comes to opting for the developers luring schemes.
There are various property investors who opt for these packages by just glancing through the internet and interacting with the property dealers without knowing the complete details. A home buyer should remember that an attractive package with luring offers will involve high risks which are disguised as attractive package offers. These attractive schemes are offered to the public in order to make easy money and raise the funds.
There are various instances wherein the customers are shocked to receive bounce checks and are given fake promises by the developers in order to lure them to invest in the property. A home buyer should be very careful before investing in any property. Today, there are more and more buyers who are falling prey to such schemes.
Here are a few pointers which should be considered;
Be wary of the assured returns:
There are many such offers which are widely prevalent and are in small size apartments. Such schemes offer a guaranteed return of about 13-14 per cent or more until the buyer takes possession of it. From then onwards the assured returns are ceased and the owner should pay the maintenance charges.
Be wary of the economical residential plots:
There are various developers who offer cheap and low cost residential plots in the suburbs of tier 2-3 cities with an investment of about 2-3lakhs. Such offers are catered to the public in order to attract the retail investors whose stocks have collapsed. However the developers also ask for an advance payment of about 95-100 per cent under the buyback scheme by offering the buyers a return of about 15-20 per cent with the lock in period of about 2-3 years.
Be wary of the risks involved:
The investors should realise that there will be many such risks involved at the time of investing their hard earned money on the property. It is very important that a person has to analyse the returns of others by investing under the same scheme in the same area. Owing to a major collapse in the real estate sector, the realty agents are trying every possible way to attract their consumers and keep their market going. In such cases, the investors can consult legal experts who can guide them on various schemes.
