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If you want to buy a house then buy at the time of low interest rates, developers will give you a large list of houses with discounts, because of Real estate Regulatory Authority (RERA) many projects which are stopped in the middle are now getting finished in 6 months under the man appointed by RERA, these are the things related to buyers and before buying they should remember few tips.
History of Developer
The first thing a buyer should do is to login to RERA page in website, then select the region now you can every detail of developer, the projects undertaken by developers, how many projects completed and delivered also can be known, if the project is finished which you are buying then you first see he is registered in RERA authority.
Many projects has been reserved or under RERA, these projects are given RERA seal which staes has permission of RERA, in RERA post developers website anybody buying can login to websites can see the plans of project, no. Of towers, building estimations and few other things about project can be known.
If you have still doesn’t trust in RERA website the Revenue department, development authority will give details of land title, sometimes developer’s start projects on lands which are not theirs will make us fear to believe it is not a mistake because sometimes they will not make farming lands into housing lands and start projects.
The buyers should see whether the project in which you want to buy is near to markets, schools, shops and most important is it is near to working place or not.
Floor Area Ratio (FAR)
FAR can be bought some amount high by developers before the start of project which staes they want to extend the project and should deliver in time and should state to buyer in the first.
Certification of Completion
Before buying a already constructed property you should take a certification of Completion which is the only document which states developers taken all required documents and construction is done conditions of RERA.
Which is better to buy already constructed or going to be constructed house
However, since you can not rent both EMI and EMI, the deferment related to the underlying asset will be reduced. But is not it expensive? There is a huge list of available and not more than the market, and if you do a good job, you get the right deals. Moreover, if more money is invested in the market, it helps to consider prices.
RERA is a good way to ensure that you for the safety in buying property from developers, many projects lost their investments due to delays, but RERA asks for a certain time for the delivery or completion of project.
Direct Purchase or Buy back
you should make sure that you have legal documents in the right place, whether the EMI is paid at the time of the seller, whether the bank has any credit to the property, whether seller has any payments towards builder or operations office.
Improvement in Investment
House is a long term plan, there will be a market for the house in future or not, it is not a investor market to get profits, it is a dream of many middle class people so take a good decision and spend a happy life in own home.