Things to take care before booking your Apartment
Buying a property or own home is everybody’s dream. If you are buying a property for first time you may have number of doubts and confusions. Before you go ahead and book your apartment in a new or upcoming project, do take care of these things:
Developer’s reputation
Reputation of builder plays a vital role in the quality and durability of building. Ensure you buy property from certified and known builders. This helps to avoid problems or risks in future.
Possession date
Buy property which is ready for possession. Remember later the possession date is costlier the property costs. You can get property at cheaper rate comparing to property which date of possession is one or more years. If there is any delay, you can ask for registration agreement and get them verified by experts or lawyers.
Super built up area
Super built up area, built up area and carpet area are important terms used by developers. These terms often get confused by a buyer. When buying a property know the terms used by developers.
1. Carpet area is area within four walls of your home or property.
2. Built up area is area including carpet area and area occupied by walls of your building.
3. Super built up area is total area including carpet area, built up area and proportionate areas of common areas.
Certificates and approvals
Buyer can get legal documents and copies of certificates to ensure the building is constructed according to plan approved by the authorities. Ensure your property gets NOC certificate from respective authorities.
Before buying a property, discuss with experts and real estate agents in your neighborhood. Buy the property only when you feel that it suits you the best. Visit as many as property as you can and select the best one from them.
Ensure you get all the documents of property and property is debt free. If you are investing on your second property, remember you have to pay income tax and wealth tax for the property that is not self occupied home. If you are buying property for renting, it is recommended to consider area and location of property. These simple precautions help you to buy your dream home or property.
Also see the check list before buying a property
