A house is considered much more than just a dwelling to many. Owning it provides a sense of security and assurance, especially to the people with relatively lower income. However, the dilemma occurs when you try to find a perfect house in a good location. There are many things that are considerable or many things you should consider before investing in a property. For instance, the property should bear clear titles and financial approval by banks, should be located in a nice location, and the builder should have a trustable reputation etc. Below is a list of mandatory checklist that we have created especially for you if you are planning to invest in a property in near future.
- Legal status: A property’s legal authorization is mandatory to construct a house or apartment over it. You must ensure that your developer has approvals from the chief authorities and NOCs from area development authorities, water supply, sewage boards, Municipal Corporation and electricity boards.
- Financial Assistance: Many times, banks do not provide financial assistance for certain buildings, owning to the bad reputation of the builder. Therefore, it is vital to check if the bank is willing to provide a loan for the property that you are planning to invest in.
- Property Value: The rate of returns determines the worth of an investment. It is vital to look out for the property value and its rate of return after certain years. Compare the price of the property with potential investments in the surrounding areas. A good comparison will bring you the genuine quotations, which will further help in deciding before you make the final investment.
- Check the carpet area: Usually, an apartment’s super built-up area is listed when the property is offered for sale. The super built-up area includes shafts, elevator space, stairs, thickness of the walls and other common areas of the apartment. These areas sum up to 30% of the super built-up area, which means your carpet area will be about 70% of the super built-up area mentioned. You should check the carpet area before investing in an apartment.
- Check additional charges: There are many additional charges along with the property investment, such as home loan processing fee, GST, stamp duty, registration charges, etc. You should consider these charges before deploying money on any piece of land or flat.
- Land record:Ensure the land you are about to invest in has clear records. You must verify its title deed which gives details on rights, ownership and obligation towards the property. Further, you should invest in a property that has clear titles.
- Surroundings of the property:Location plays a huge role in deciding a house or flat. You should check the surroundings of the property before investing in it. Some of the key factors that you can consider in the surroundings include schools, hospitals, colleges, restaurants, parks, and other social infrastructure.
SwarnaGriha, an initiative by Felicity Adobe and Hebron Properties, offers homes with clear titles at Tumakuru. These 1 & 2 BHKs are available under PMAY scheme and accommodate financial assistance from all banks. The SwarnaGriha team supports all its customers with the loan procedure and buying process.
SwarnaGriha homes are equipped with all modern amenities and tight-knit security for the residents.If you want to buy affordable apartments in Tumakuru, you must check SwarnaGriha homes.