The problems for home loan buyers are increasing day by day. The calls that the rates can be tapered down has met a contrary result. The home loan rates have been revised higher, thanks to the adjustments in the repo window of the RBI. Lenders have no choice but to make alteration in the loan rates. Meanwhile, home loan seekers have issues with financial affordability. The loans of some banks have crossed double figures and inching up to 11 per cent. There are smart measures that can be taken at this time rather than shunning off the idea completely. These measures are as follows:
1. Search for the right option 2. Home Loan Interest Table 3. Keep floating rate as an option 4. You can check transfer of loan as an alternative 5. Option to adjust the EMI
Hi Vitor, I think there are several verifying factors that will ensure your property qualifies as a safe investment. Make sure to prepare a checklist before finalising your buying decision:
1. Property tax challan receipt
2. Sale Deed
3. Parent Document
4. Khata
5. Building Approval Plan
Thanks David for sharing your viewpoints, I would like to say few more checklist that is also important while finalizing properties:
1. Encumbrance Certificate (EC)
2. Completion Certificate (CC) and Occupation Certificate (OC)
3. Layout plan
4. Registered society
5. Power of Attorney (POA) if you are NRI or not staying in that city.
Builder background check is one of the most important thing a property buyer should research, check his track records and reputation on the basis of his previous track record.While investing you should also check on the resale value, materials used while construction and also cross check that the developers give you all the titles and that only have the right to sell the property in future.