Things to Consider When Buying Your Dream Home
April 18, 2024 in Property GuideHome and Lifestyle
Buying a house is an emotional experience – mentally, physically and financially. It involves careful deliberation and a thorough understanding of what purpose the property will be fulfilling. There is also always, a fear of what might happen if the project gets cancelled, delayed, or runs into any other complication. At Adani Realty, we too notice the trend of our completed projects like The Meadows (Shantigram), or Western Heights getting far more bookings and enquiries than our under construction projects. This stems from a natural anxiety present in the consumer’s mind because after all, investing in a home is no small thing!
Background research is essential to a smooth purchase experience. Here are some of the more important things to consider before buying a house.
Construction permits / Approval from authorities
Make sure the builders are the rightful owners of the land and that they have taken all necessary approvals from the respective municipal and /or other bodies required, for construction on the plot. Any discrepancy here can result in litigation and endless delays in completion of the project.
Check the builder's track record
Check the previous track record of the builder, to see if their previous projects have been completed on time. Many builders make a habit out of pushing their delivery schedules endlessly. Of course such a risk is not implied when you purchase an existing property, but completed properties are also a lot more expensive, so if you’re on a budget, then an under construction property is a better option for you.
Cross-checking all documents
Before signing any deal and taking possession, it's important to check the serial number of the flat, the floor, carpet area, purchase consideration, delivery date, penalties for late delivery, and payment plans that have been mutually agreed with the developer.
The sale amount should be clearly mentioned along with a duly stamped and signed agreement.
Stamp duty and registration
The stamp duty is payable on the agreement pertaining to the value of the property or the market value. This has to be registered with the sub-registrar at the Indian Registration Act. Make sure that this is registered within 4 months from the date of purchase of your apartment.
Locality
What is the point of owning a luxurious apartment that is totally isolated and has no proximity to the facilities you will regularly require? Always take note of everything around a property when inspecting it. Are there schools and hospitals nearby? What about grocers, restaurants and transit points like stations and bus stops?
In-house Amenities offered
When you are spending so much money on a new home, it may as well offer you more than four walls and a ceiling. Opt for projects that have at least some lifestyle amenities that will make your life happier and healthier. Playgrounds, Sports and Fitness facilities, Swimming Pools and Spa Houses are just a few of the add-on amenities that builders are offering nowadays.
Quality of construction
Do the walls leak during the monsoon? Is the wiring in the house jarringly visible? Are the surfaces chipped or dull? Is the flooring uneven? Always inspect potential apartments for these things.
At Adani Realty, our properties are carefully crafted keeping the variety of amenities in mind, designed with quality construction and the proximity to the facilities you require. Now, one can opt for projects that have immense lifestyle experience filled with serenity amidst surroundings.
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