Buying your own new house is a dream every Indian individual develops in his or her mind since childhood. A big amount of investment goes into buying a house or a flat, which makes the decision even more important. We have tried to make it easier for you by taking it down to the several most essential points to remember before buying a new house or a flat.
The procedure for your own new house should start with collecting the information regarding the price of the targeted property. That will help you to get the idea, whether your budget and your choice of the flat go hand in hand. Getting quotations of various similar flats from different builders will provide the comparative ground to your research.
Carpet Area of the flat:
There are some different terminologies used in the real estate sector. This makes it important for the buyer to Know how exactly are built-up and super built-up areas defined. Super built-up area includes stairs, elevators, shafts, etc, which can be 30 % more than the actual area you get to use within the walls.
You are needed to check the land of your building to make sure that it is not problematic in the Times of natural calamities, eg. Flood. Nevertheless, analyze the verification of the title deed in detail as it provides the specifics on the authorities, ownership, and accountabilities towards the flat.
Legal Check of the flat:
You are required to keep a check on some of the most important legal documents which make the property authorized. Eg, NOCs from area development authorities, water supply, electricity and sewage boards, and municipal corporations. Also, taking a home loan is the safest option as the concerned bank validates all the property documents before sanctioning the loan.
Possession of the flat:
The real estate sector has witnessed the tendency of delaying the possession of the property by many builders. However, it takes a major toll on the common buyer whose life investments are at stake. That’s why we insist to ensure the possession span which may vary till six months, however more than that should necessarily be questioned.
Loan approval and banks:
The real estate sector has seen some unacceptable working trends of some builders due to which some banks have the criteria regarding funding the property projects. You need to get confirmation before finalizing the flat of a certain builder, that the property will get the approval for the home loan.
After finalizing the flat to be bought, you need to insist on creating the sale agreement to the builder of the flat. This sale agreement is a legal promise from the owner that after paying the whole amount, the owner is entitled to sell that flat to you exclusively and not anybody else, which helps to lessen the frauds that happen into this. Not to forget to read and understand the sale agreement thoroughly including all the clauses.
While making the sale agreement, it should be mentioned clearly in it who is going to pay for the legal documentation process. Many times, people are not aware of hidden charges like GST, stamp duty, registration charges, etc. which later becomes difficult.
Last, but not least, flat location. You need to have a clear idea of the location of the new house. Where you want your flat, which amenities you need are some of the key points you need to consider before buying your new flat.
Rachayati, being the best builder in Amravati, offers luxurious flats in Amravati embeded with all the latest technologies and facilities in apt locations in Amravati, right in your budget. To book your own luxurious flat, contact us today!
Locations offered: Rajkamal Chowk, Rajapeth, Gandhi Gate, Ambadevi, Tulja Bhavani Mandir, Sainagar, Shegaon Rahatgaon Road, Ram Nagar, Amravati MIDC, Chandur Bazar Road, Kathora Road, Gadge Nagar, Maltekdi, Arhad, Guruchhaya Colony, Kewal Colony, Motha, Achalpur, Ajni, Adgaon, LIC Colony