What you need to know before buying a property

Q: Prospective buyers always queue up for suggestions from those who have recently bought a property. Which are the key points one should look for?

biman roy, Kolkata

17th March 2015

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Replies (6)

I read all your posts and am grateful to you for your answers, Being a Woman I would like to know what should I keep in mind before buying an apartment?

Poonam, Kolkata

3rd August 2015

Comment

Hi Poonam, Buying a home today takes a lot of research.I think women need to check certain extra factors before making the purchase like
1. Connectivity and transport:
2. safety
3. benefits that only women can avail etc..

Priya Gupta, Kolkata

3rd August 2015

Yes priya, I think you are right, choose a property means which offers easy connectivity and frequent mode of transport at any time of the day.There should enough transportation facilities available from buses, taxis to auto within your easy reach. This will help at times when you get late from your work or there is an emergency.

Kaustav Paul, Kolkata

3rd August 2015

Being a woman property buyer would expect a lot of benefits. Special concession with reference to registration of the property in the Office of the Sub-Registrar. The stamp duty payment in many states of India is lower for the woman tax payer.

debabrata sarkar, Kolkata

3rd August 2015

Well Rakhi,
What i think if you don't have sufficient knowledge, you may come across someone who has faced a similar situation and is now out of it. You can also ask a question and get speedy replies.

prithiraj Chakraborty, Kolkata

20th March 2015

Comment

It is always better to search property online. News, forums, real estate portals, reviews, suggestions and discussions that is found on the internet can be a good source of information. These are very useful methods to know whether there have been issues, complaints about infrastructure, developments in the area and future prospects. Both positive or negative news will help you balance your decision and will help you know whether you are making the right investment.

Rakhi Bansal, Delhi

18th March 2015

Comment

Right Rakhi,
You don't need to go too far to find a property of your choice. Real estate portals give you information about localities where there is housing supply. You can key in your budget, location preference, property preference. This could be a time-saving way to shortlist.

Mahendra, Mumbai

18th March 2015

Comment

is it true that before investing in real estate market it necessary to have a locality in mind?

chandramohan das, Kolkata

17th March 2015

Comment

Very true Chandramohan,
it is always better to know a locality better. It gives you first hand information about how a particular locality has been faring. If you are an investor, you would like to invest in an area where there are chances of capital appreciation, rental returns, ease of access, infrastructural development and buyer's interest.

Sajal Das, Kolkata

17th March 2015

Well Sajal,
At the same time this would also ensure that in case you want to exit the market at one point of time, the locality is easily saleable. If you buy in the peripheries, chances are that there may or may not be demand for the locality in future and your investment may suffer.

chandramohan das, Kolkata

17th March 2015

Hi Biman,
Here are the few basic areas where one should must look before entering into property market. These are - 1) Know your budget, 2) Research online, 3) Use formal indices, 4) Ask experts, experienced person.

Your circle of friends and family who have bought property could also help you out. Don't hesitate to listen to advices from multiple sources. But always be sure that an expert may be able to guide you better.

Sajal Das, Kolkata

17th March 2015

Comment

Hi Sanjal,
Mu question is how much is the EMI of my monthly income? Should i exceeds beyond my limit or not? Kindly suggest.

chandramohan das, Kolkata

17th March 2015

Hi,
Since you are in charge of your finances, decide how much you can pay per month for your dream home. Experts advice that if you are taking a home loan, your EMI should not exceed 30% of your monthly income. If you are clear that your budget cannot exceed Rs 50 lakh, stick to options available within this price range. This would help you shortlist with a clearer perspective.

Sajal Das, Kolkata

17th March 2015